State California Financial News

According to some United States lawmakers in the House Financial Services Committee, the lack of diversity in the financial technology space could be hurting many companies’ bottom lines.

The chief executive of California-based asset manager Research Affiliates has called cryptocurrencies a “Ponzi scheme”, claiming bitcoin and the blockchain technology underpinning the world's largest digital asset help fuel illegal activity.

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Yuga Labs is the limelight again. However, this time around the NFT giant announced that it has filed a lawsuit against old critic Ryder Ripps in a 43-page testimony in California. The founder of the famous Bored Ape Yacht Club [BAYC] claim that Ripps has been “scamming” buyers with falsely equivalent NFTs attempting to harm the standing of the apes in the NFT marketplace. Let’s see if the lawsuit affected BAYC sales and volume since the announcement.

Thieves stole around $100 million (€95 million) worth of cryptocurrency from Horizon, a blockchain bridge developed by US crypto start-up Harmony, the latest in a string of cyber heists on a sector long targeted by hackers, the company said on Friday.

Women prefer investing in a way that helps the environment and does social good, some studies have found. Such values-based investing could help raise women's general enthusiasm for investing and boost long-term wealth, according to financial experts.  

US crypto firm Harmony hit by $100 million heist

It was only a year and a half ago that there appeared to be bad feelings between Snoop Dogg and Eminem, both of whom are Dr. Dre's proteges. Now, the legendary rappers have a new music video where they are featured as Bored Apes.

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

Circle Internet Financial announced on Thursday that it plans to launch a Euro stablecoin (EUROC), by the end of the month, backed by the single European currency.

Bill Gates has slammed the digital assets class, outrightly dismissing the projects, including non-fungible tokens (NFTs). The billionaire said such assets are based on the 'greater fool theory' and that is, of course, until there are no greater fools left, he said. “The prices go up because people are able to sell overpriced items to a greater fool. Digital images of monkeys are going to improve the world,” he added in a sarcastic note.

Bill Gates dismissed cryptocurrency projects such as nonfungible tokens as shams “based on the greater-fool theory” at a climate conference Tuesday, reviving past criticisms of digital assets. “Obviously, expensive digital images of monkeys are going to improve the world immensely,” Gates said sarcastically while speaking at an event in Berkeley, California hosted by TechCrunch. He said he’s neither long nor short the asset class. Gates has criticized crypto before, sparring with Elon Musk last year over whether Bitcoin is too risky for retail investors and the environmental harm of mining coins. Speaking Tuesday as the founder of Breakthrough Energy Ventures, the climate-focused fund he began in 2015, Gates noted the difficulty of recruiting Silicon Valley engineers to work in industries like chemicals and steel production in need of lower greenhouse gas emissions.

Bill Gates blasts Crypto, NFTs as based on greater-fool theory

Researchers at the federally-funded Lawrence Livermore National Laboratory in California have combined statistical mechanics and information theory to design a stablecoin they call Electricity Stablecoin (E-Stablecoin) that would transmit energy as a form of information. Livermore’s Maxwell Murialdo and Jonathan L. Belof say their innovation would make it possible to transmit electricity without physical wires or a grid and create a fully collateralized stablecoin pegged to a physical asset – electricity – that is dependent on its utility for is value. 

Binance.US, the sister company of global cryptocurrency exchange Binance, is facing a class-action lawsuit from investors for the sale of LUNA and TerraUSD (UST).

The Republic of Palau announced Friday that it will issue identification cards to its digital residents in the form of nonfungible tokens (NFTs) on Binance’s BNB Chain blockchain. Binance founder and CEO Changpeng Zhao (CZ) was on hand in the Pacific Island nation for the unveiling of the NFTs and to meet with Palauan President Surangel S. Whipps, Jr.

PayPal said the feature will be available to select U.S. users starting on Tuesday.

Serkan Arslanalpis Deputy Division Chief in the Balance of Payments Division of the International Monetary Fund (IMF)’s Statistics Department; Barry Eichengreen, George C. Pardee and Helen N. Pardee Professor of Economics and Political Science, University of California;Chima Simpson-Bell is an Economist in the IMF’s African Department._______

The recent volatile price action in the stock market has been scary for some investors, especially younger ones just dipping their toes into putting money away for the long-term.

The latest Covid-19 case surge is expanding beyond the Northeast, with places from the Midwest to Florida and California under rising pressure.

Founder: Shivani Siroya (CEO)Launched: 2014Headquarters: Santa Monica, California Funding: $362.1 millionValuation: $800 million (PitchBook) Key technologies: Machine learning Industry: FintechPrevious appearances on Disruptor 50 List: 2 (No. 20 in 2021)