Until fairly recently, the idea of selling a tweet wouldn’t have made much sense. But last year, Twitter co-founder Jack Dorsey auctioned a nonfungible token, or NFT, of the first tweet ever sent. Dorsey’s historic message: “just setting up my twttr.” Pretty mundane for sure. Still, crypto entrepreneur Sina Estavi made the winning bid for … Read more
For investors in digital assets like cryptocurrencies and non-fungible tokens (NFTs), it’s necessary to take special estate planning considerations into account. But a recent study conducted by the Northern Trust Institute suggests some investors are slow to adopt these measures, potentially putting their investments at risk after they die. The Chicago-based wealth manager firm surveyed … Read more
A scene from Apex Legends Mobile, published by Electronic Arts. Courtesy of Electronic Arts Text size Electronic Arts shares were rising in late trading after the company revealed an array of new games it plans to release later this fiscal year. Electronic Arts (ticker: EA) reported adjusted revenue or net bookings of $1.75 billion, slightly … Read more
Unplugged. Tech stocks absorbed a long-awaited decline in April, damaging mutual funds and exchange-traded funds that had enjoyed their run-up. Some investors hope it’s just a needed pause after a strong run for stocks of software, social-media and other tech companies that sent growth-stock funds soaring. As April ended, the tech-focused Nasdaq Composite Index had … Read more
Text size Tens of billions of investors’ capital has been vaporized inside some top tech hedge funds. It could be the quickest collapse of dollar value in hedge fund history. Dreamstime Warren Buffett once said, “You don’t find out who’s been swimming naked until the tide goes out.” Well, the tide has gone out for … Read more
Text size China is sticking with its zero-Covid policy but also said it would ease off regulatory crackdowns on tech firms. Here, a subway station in Beijing. Wang Zhao / AFP via Getty Images China’s recent announcements that it will pause its long-running regulatory crackdowns on leading tech firms is drawing skepticism from analysts. And … Read more
Bored Apes may be carrying the NFT market on its shoulders. NFTs, or nonfungible tokens, are digital files that grant holders some rights to a unique digital asset – such as a video clip, image, audio file, or deed to online real estate. Most NFTs are minted and trade on the Ethereum blockchain, priced in … Read more
Text size The centralization of data in the hands of a few companies and countries is risking global trust, Susan Ariel Aaronson writes. Dreamstime About the author: Susan Ariel Aaronson is a research professor and director of the Digital Trade and Data Governance Hub at GWU as well as a senior fellow at the Center … Read more
The NFT market is collapsing. The sale of nonfungible tokens, or NFTs, fell to a daily average of about 19,000 this week, a 92% decline from a peak of about 225,000 in September, according to the data website NonFungible. The number of active wallets in the NFT market fell 88% to about 14,000 last week … Read more
WASHINGTON — The Securities and Exchange Commission will boost the size of its special unit devoted to investigating cryptocurrency fraud and other misconduct, a move that follows the agency’s aggressive push to get the unregulated industry to come under federal supervision. The SEC said it plans to add 20 investigators and litigators to its Crypto … Read more