Autor Cointelegraph By Keira Wright

Ex-Goldman Sachs banker launches crypto app after $33M raise

Ex-Goldman Sachs banker launches crypto app after $33M raise

Uverejnil používateľ | jan 26, 2022 |

The former Head of Product for “Marcus by Goldman Sachs” has launched a crypto investing app, “Domain Ventures,” raising $33 million from investors on Jan 25. Adam Dell, brother of Dell computers tycoon Michael, assembled a team of 25 former staff members from Goldman Sachs. Other staffers are leaving their roles at Bridgewater Associates, Morgan Stanley, Coinbase Global Inc. and BlockFi. Former Goldman Sachs CTO Elisha Wiesel, and Christopher Giancarlo, thformer Chairman of the Commodities Futures Trading Commission have also been tapped to join the project. The app is targeted at retail users, who will be charged an annual management fee of 1% for actively managed and curated investment plans. The app features real-time market intelligence, live customer agents as well as social sentiment analysis. Gemini will facilitate the app’s crypto trading feature, and Apex Clearing will provide securities trading and custody. Related: Goldman Sachs to offer Bitcoin futures trading in partnership with Galaxy DigitalInvestors in the project include venture capital firm Bessemer Ventures and Marc Benioff, who is the co-founder of Salesforce.com Inc. Also Maveron, RRE Ventures, SV Angel and Joe LonsdaleWe are thrilled to announce that Domain Money has launched. With our app you can trade stocks and crypto, invest in one of our professionally managed strategies and discover serious control through Domain Signal. Now available in the Apple app store.https://t.co/WDrR4q9W9y pic.twitter.com/89kZ9pTJds— Domain Money (@domainmoney) January 25, 2022″Investors are looking for access to diverse asset classes, along with security, transparency, and the power to be in control of their finances,” said Dell in a Jan 25 announcement, adding that his mission is to grow his customers’ wealth. “We developed Domain Money to provide investors a sophisticated, intuitive, and holistic platform to invest in crypto, not as a novelty, but as a core component of their portfolios.”

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Zuckerberg's Diem reportedly weighing sale after stablecoin plans falter

Zuckerberg's Diem reportedly weighing sale after stablecoin plans falter

Uverejnil používateľ | jan 26, 2022 |

Meta-backed crypto initiative “Diem” is reportedly trying to sell its assets, seemingly calling time on Facebook founder Mark Zuckerberg’s grand ambitions for a stablecoin to act as the internet’s currency. Diem — which was previously known as Libra — is Meta Platform’s cryptocurrency initiative. According to insider sources speaking with Bloomberg, it is considering selling assets to return capital to its investors. The sources said that Diem is in discussions with investment bankers to determine the best way to sell its intellectual property and cash out on whatever value the project has maintained. It’s unclear how the company will be valued, and there is no guarantee that they will be able to find a buyer. According to the source, about a third of the venture is owned by Meta. The remainder is owned by members of the association and partners, which include Coinbase Global, Uber and Shopify. Diem has sparked no shortage of controversies in its short time of existence since launching on June 18, 2019. Libra, as it was known at the time, intended to be maintained by a Switzerland-based consortium of companies called the “Libra Association.”However, news of the project’s launch triggered immediate pushback from the U.S. government and regulators around the world, who cited concerns regarding privacy and monetary sovereignty. Both Facebook CEO Mark Zuckerberg and former Libra head David Marcus testified before the House Financial Services Committee.Related: New name, old problems? Libra’s rebrand to Diem still faces challengesAt one July hearing in 2019, Senator Sherrod Brown of Ohio asked Marcus, “do you really think people should trust Facebook with their hard-earned money?” “If our country fails to act, we could soon see a digital currency controlled by others whose values differ radically from ours,” Marcus responded. Deterred by regulatory scrutiny, many partners began to abandon the project altogether, eventually including Marcus himself. It was at this point it rebranded to Diem, hoping to shake off the mass regulatory panic that drowned out Libra’s initial announcement.

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Paris Hilton says that the Metaverse will be the ‘future of partying’

Paris Hilton says that the Metaverse will be the ‘future of partying’

Uverejnil používateľ | jan 25, 2022 |

The OG influencer Paris Hilton has continued her crusade into the Metaverse, saying that she sees it as the “future of partying, going out, interacting with people, and being social”.On Jan. 25, Hilton appeared as a guest on the ‘Tonight Show’ with Jimmy Fallon, where she spoke about her experiences in the NFT community.Hilton told Falon that she will be dropping her first NFT collection with Super Plastic on the Origin protocol “soon,” but didn’t give any further details regarding a timeframe. Super Plastic is a vinyl toy and digital collectibles company.She revealed the collection to audience members entitled “Forever Fairytale,” a collage of memories with her newly-wed husband Carter Reum. She then gifted the first NFT in the collection to Falon, and additional NFTs to each member of the audience.Always representing my fam! Love everyone in this amazing community so much & want the whole world to understand & know! https://t.co/SQXF3fsVxJ— ParisHilton.eth (@ParisHilton) January 25, 2022“I think that’s the first NFT giveaway in television history,” said Fallon. On Jan. 18, Super Plastic dropped its “Headtripz” NFT collection, featuring a collaborative piece with Hilton.Although this will be her first collection, it’s far from her first foray into the NFT space. In April 2021, Hilton sold her “Iconic Crypto Queen” NFT for $1.1 million. In a Nov. 2021 interview with The Guardian, Hilton said that she began investing in crypto during 2016 when she “became friends with the founders of Ethereum.” Since then, she’s amassed an admirable NFT collection of 141 pieces, including a Bored Ape and works by Grimes and Steve Aoki. Isn’t she gorgeous? ✨ Can’t wait for one of you to unlock her! You can now burn your pill NFTs @Superplastic #HEADTRIPZ ❤️✨ GET YOURS: https://t.co/GasQZPsf8L pic.twitter.com/W2ADi7eNTG— ParisHilton.eth (@ParisHilton) January 20, 2022

The pop culture icon has become a somewhat unexpected advocate for the Metaverse in recent times. Hilton’s “Paris World” debuted on online gaming platform Roblox during New Year’s Eve 2021, where Hilton played a DJ set to a virtual crowd. “I think it’s important for people to not only be in the physical world but also to be in the digital world,” she told Bloomberg on Jan. 21.Paris World comes complete with an amusement park, petting zoo, nightclub, and mansion where users can buy outfits from her closet or hang out on her yacht. To date, the Metaverse island has only attracted a total of around 63,900 visitors according to Roblox stats. By comparison, Roblox’s “ALDC Studio” world inspired by the American reality TV show “Dance Moms” has amassed over 30.5 million visitors. Hilton has over 55 million followers across her social media accounts on Instagram, Twitter, Facebook, Snapchat, and Youtube. Despite its underwhelming stats, Hilton says that she remains hopeful for the island’s future. “I see Paris World evolving into a destination for different events throughout the year — Valentine’s Day, Super Bowl, New York Fashion Week,” she said.”Paris World” in Roblox. Source: Paris Hilton/DXSHRelated: Paris Hilton drops surprisingly well-informed article about NFTsThe millionaire heiress rose to fame following the success of her reality TV program “The Simple Life” in 2003. She recently released a new show called “Paris in Love,” and a podcast called “This is Paris.”

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Bank of America says stablecoin adoption and CBDC is ‘inevitable’

Bank of America says stablecoin adoption and CBDC is ‘inevitable’

Uverejnil používateľ | jan 25, 2022 |

It appears that the U.S. will finally be moving forward to create its own central bank digital currency (CBDC) according to the Bank of America.Bank of America crypto strategists Andrew Moss and Alkesh Shah wrote in a Jan. 24 note that CBDCs “are an inevitable evolution of today’s electronic currencies,” according to a Bloomberg report. The analysts wrote:“We expect stablecoin adoption and use for payments to increase significantly over the next several years as financial institutions explore digital asset custody and trading solutions and as payments companies incorporate blockchain technology into their platforms.” Meanwhile, a Jan. 20 report titled “Money and Payments: The U.S. Dollar in the Age of Digital Transformation” from the Federal Reserve Bank (FRB) weighed up the benefits and disadvantages of the U.S. potentially adopting a CBDC. It considered whether a CBDC could potentially “improve the safe and effective domestic payments system” for households and businesses as “the payments system continues to evolve,” possibly resulting in “faster payment options between countries.”In the meantime, Shah and Moss stated that the use of digital currencies issued by private companies is likely to grow. Currently, the liability for existing forms of digital currency like online bank accounts or payment apps belongs to private entities, such as commercial banks. However, a CBDC would be different in this respect because it would be the liability of a central bank such as the Federal Reserve, wrote the FRB in a statement about the report. It also pointed out potential difficulties including preserving financial stability, protecting the privacy of users, and combatting illicit transactions. The Fed has opened to the floor for public comment on these issues until May 20. Related: Solana could become the ‘Visa of crypto’: Bank of AmericaA CBDC is a digital version of a country’s fiat currency, such as the U.S. dollar. They started to step into the spotlight during 2020 when The Bahamas launched the world’s first CBDC, the “Sand Dollar.” Meanwhile, China’s central bank is in the process of developing a digital yuan wallet, as it steps up its efforts to create a digital currency. In April 2021, Sweden’s central bank completed the first phase of its “e-krona” digital currency pilot.

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Meta unveils Metaverse AI supercomputer, claims it will be world’s fastest

Meta unveils Metaverse AI supercomputer, claims it will be world’s fastest

Uverejnil používateľ | jan 25, 2022 |

Facebook’s parent company Meta says that its newly-created artificial intelligence (AI) “Research SuperCluster” (RSC) will “pave the way” towards building the Metaverse.The social media giant said that it believes RSC is already one of the fastest supercomputers in the world and will snag the top spot when it’s fully operational in mid-2022, according to a Jan, 24 blog post unveiling the hardware. “Developing the next generation of advanced AI will require powerful new computers capable of quintillions of operations per second,” wrote the company. “Ultimately, the work done with RSC will pave the way toward building technologies for the next major computing platform — the metaverse, where AI-driven applications and products will play an important role.”CEO Mark Zuckerberg added in a Jan. 25 Facebook post: “The experiences we’re building for the metaverse require enormous compute power (quintillions of operations/second!) and RSC will enable new AI models that can learn from trillions of examples, understand hundreds of languages, and more.”The machine will be able to work across hundreds of different languages to develop “advanced AI” for computer vision, natural language processing, and speech recognition. “We hope RSC will help us build entirely new AI systems that can, for example, power real-time voice translations to large groups of people, each speaking a different language, so they can seamlessly collaborate on a research project or play an AR game together.”Meta didn’t disclose where the computer is located, or the costs associated with its development and creation. Decentralized finance analyst Camilla Russo compared Meta’s new machine to the Ethereum network, which is considered by some in the industry to be a global “supercomputer” of sorts already. facebook @Meta builds a supercomputer in private to better monetize users’ data in its metaverse.ethereum builds a world computer in the open that allows users to control their data in the metaverse.not the same. https://t.co/lTFIFRw840— Camila Russo (@CamiRusso) January 24, 2022Related: Nvidia CEO: We’re ‘on the cusp of’ a blockchain and NFT-enabled metaverseIn Dec. 2021, Vice President of Intel’s accelerated computing systems and graphics group, Raja Koduri, said that current computational infrastructure will need to improve a thousand-fold in order to power the Metaverse. “You need to access to petaflops [one thousand teraflops] of computing in less than a millisecond, less than ten milliseconds for real-time uses,” Koduri told Quartz at the time.Largely described as the next iteration of the internet, the Metaverse refers to a virtual space where people can work, play and socialize – often by using virtual reality (VR) and augmented reality (AR) technology. In October, Facebook rebranded as Meta to reflect its renewed focus beyond social media.

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