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Businessweek Columnist Writes Definitive Crypto Essay
Popular Bloomberg financial columnist Matt Levine has written a crypto manifesto of sorts. The long-time finance chronicler published a 40,000-word article on all things cryptocurrency Monday in Businessweek.
Amid one of the worst downturns in the industry’s 14-year history, Levine offered praise of the good parts, critiques of the evil and dangled hope that this newfangled way of moving money and information around has staying power.
For cryptocurrency historians, or new investors looking to learn the ropes in a relatively short space of time, the all-inclusive, definitive essay provides rich background and context. The complexities of the industry are (mostly) laid out in plain English, providing the perfect on-ramp for new adopters.
Read the article here.
U.K. Votes to Regulate Crypto Assets
Lawmakers in the U.K. voted to recognize crypto assets as a regulated financial instruments and products Tuesday. The House of Commons will add crypt to the list of assets under the preview of the proposed Financial Services and Markets Bill.
The broad goal of the Bill is to design a post-Brexit economic strategy, and crypto slipped its way into the extensive document.
“The substance here is to treat them [crypto] like other forms of financial assets and not to prefer them, but also to bring them within the scope of regulation for the first time,” Andrew Griffith, the financial services and city minister, said during the parliamentary meeting before lawmakers voted largely in favor of keeping the amendment in the legislative package.
Dogechain Triples Value in a Week
The token for Dogechain, DC, has tripled in value in the last week. It’s not the first time the memecoin has shot up in value, and Dogechain community members are now voting on a “great burn” proposal, which determines whether the total supply of the token should be reduced by 80% proportionally throughout all allocations.
DC was trading at $0.0004 Friday and rocketed — in terms of percentage — to $0.0018 Sunday.
When Dogechain was created in August, it fell 90% in its first month. Now, it has rekindled much of its momentum, boasting a market cap of $46 million.
Mobile Game Lands $50 Million Investment
The web3 gaming sector is continuing to get mega-infusions. The latest is a $50 million an investment commitment to Manc from GEM Digital Limited. Manc is a mobile game development company that has already released three mobile games and reached over 3 million downloads.
The Mancium token is the utility token of Manc Games and represents a next-generation public blockchain solution. Mancium also powers the overall Manc ecosystem, with its utility spreading from the market platform for in-app purchases, special in-game events to the ability to collect supplies for Manc Academy.
In addition, Mancium will have unique uses and capabilities in the meta versions of Manc Games.