Edward Robinson

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Sotheby’s Ups NFT Game with Launch of Metaverse Auction Platform

Maybe it’s time to retire the tulip bubble analogies.  Anyone out there who still dismisses NFTs as nothing more than a digital fetish might want to check out the announcement from Sotheby’s today.  It’s launching a dedicated marketplace for non-fungible, tokenized art called Sotheby’s Metaverse, a nod to the virtual world where NFTs are becoming …

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Gensler Vows Action Against DeFi Platforms That Operate ‘Outside the Perimeter’

All cryptocurrencies will be regulated. Or else. That was the clear and unambiguous message Gary Gensler, the chair of the U.S. Securities and Exchange Commission, delivered Tuesday in a livestream with The Washington Post.  Gensler said there’s no question in his mind that digital tokens fit the definition of securities and are subject to federal registration …

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DeFi Market Stabilizes After White Knuckle Drops Monday

Crypto markets Tuesday morning appeared to be shaking off gut-wrenching falls in the last 24 hours. At one point Monday, At one point, ETH nosedived 2.8% in an hour. Ethereum was up 0.5% in trading at 7:15 AM, according to CoinGecko data.  Cardano increased 0.4% and Solana, Avalanche and Chainlink were flat. So, too, was …

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OpenSea Vows to Probe ‘Incredibly Disappointing’ Insider NFT Buys

OpenSea, the world’s biggest NFT marketplace with $100M in daily volume, just learned a painful lesson — inside information can lead to unscrupulous trading by employees. Devin Finzer, OpenSea’s co-founder and CEO, said in a blog post Wednesday that an employee purchased “items” ahead of their public listing on the auction site’s front page. With …

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Billionaire Steven Cohen Goes Long in $50M Funding Deal for Sports NFT Player

Steven Cohen, the billionaire hedge fund manager and onetime crypto skeptic, has jumped into the NFT market in a move that could shake up sports marketing, as well as the Metaverse.  DIGITAL, a Metaverse investment venture backed by Cohen, has led a $50M Series A fundraising round in RECUR, a tech startup that develops “on-chain …

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Hedge Fund Giant Steven Cohen Dives into Crypto with $21M Funding Round in Messari

In the latest sign that Wall Street big shots love crypto, Point72 Ventures, the early-stage investment firm founded by hedge fund billionaire Steven Cohen, has led a $21M funding round in Messari, the crypto market intelligence provider. It is Point72’s first foray into crypto.  Founded in 2018, Messari compiles and analyzes metrics on the ups …

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Crypto Tax Debate On Capitol Hill Signals Big Changes for DeFi

Taxing cryptocurrencies just picked up serious momentum, with potentially serious ramifications for DeFi.  The U.S. Senate’s $1 trillion infrastructure package now under consideration includes a provision that would tax transactions involving Bitcoin and its ilk to raise around $28 billion in funding. That means swapping Ethereum and other DeFi tokens may have to be recorded …

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Freaked Out by DeFi? Swarm Markets Gets Licensed to Win Over Wary Investors

When Philipp Pieper and Timo Lehes co-founded Swarm Markets in 2017 in California and then moved to Berlin, they did a strange thing. They knocked on the door of Germany’s financial watchdog, known as BaFin, and said, please regulate us. That’s not supposed to happen in DeFi. The whole idea is to break free from …

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Grayscale’s Most Exotic Crypto Bet is Soaring Yet Not Many are Biting

What a wild moment.  When Grayscale Investments launched its Decentraland trust back in February it was hard to believe that a Wall Street firm with $40B in assets was firing up a vehicle to invest in one of the most exotic experiments in crypto. Created on the Ethereum blockchain six years ago, Decentraland is a …

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