Crypto Currency

It’s on: The U.S. wants to ban big tech from issuing digital money

In June, weighing in on Facebook’s upcoming cryptocurrency Libra, Tendermint Labs core dev Sunny Aggarwal told me that the advent of cryptocurrencies has pushed big tech, the crypto space, and nation-state governments into a gridlock that will be the “big battle of the next decade.” Judging by a new draft proposal, currently circulating among the…


In June, weighing in on Facebook’s upcoming cryptocurrency Libra, Tendermint Labs core dev Sunny Aggarwal told me that the advent of cryptocurrencies has pushed big tech, the crypto space, and nation-state governments into a gridlock that will be the “big battle of the next decade.”

Judging by a new draft proposal, currently circulating among the Democratic majority that leads the U.S. House Financial Services Committee according to Reuters, this battle has begun. 

The bill, bluntly named “Keep Big Tech Out Of Finance Act,” aims to “prohibit large platform utilities from being a financial institution or being affiliated with a person that is a financial institution.”

Make no mistake, this is about Facebook

While the bill speaks in general terms, it’s quite clearly aimed at Facebook and Libra. The “large platform utility” is defined as a technology company with “an annual global revenue of $25,000,000,000 or more” and one that is “predominately engaged in the business of offering to the public an online marketplace, an exchange, or a platform for connecting third parties.”

If one had to define Facebook in two sentences, those two would work perfectly. Note the bit that says the “large platform utilities” can’t even be “affiliated with” a person that is a financial institution. Libra (both the blockchain and the digital coin) is governed and owned by the Switzerland-based Libra Foundation, where Facebook is just one of founding members, but this bill appears to prohibit such a venture, too. 

Furthermore, the proposal speci

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Crypto Currency

Learn how to invest in cryptocurrencies with this set of online classes

TL;DR: The Complete Cryptocurrency Investment bundle is on sale for £19.21 as of June 25, saving you 94% on list price. If we’re to believe every plot point from the movie The Social Network, Mark Zuckerberg allegedly stole the idea for Facebook from the Winklevoss twins and went on to become one of the youngest…

TL;DR: The Complete Cryptocurrency Investment bundle is on sale for £19.21 as of June 25, saving you 94% on list price.


If we’re to believe every plot point from the movie The Social Network, Mark Zuckerberg allegedly stole the idea for Facebook from the Winklevoss twins and went on to become one of the youngest billionaires ever. 

Things ended up working out for the Winklevoss brothers, though. They received a $65 million settlement and competed in the 2008 Beijing Olympics, but they still weren’t a member of the prestigious billionaire club. That changed when they finally became billionaires thanks to Bitcoin. 

For the uninitiated, Bitcoin is a digital payment system and cryptocurrency that’s not tied to any country or bank. Bitcoin sometimes gets a bad rap for being associated with criminals and the dark web, but there are many advantages to using a decentralised system.

Even if you don’t have a $65 million to invest, you can still learn how to make mone

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Crypto Currency

Forget PS5: A Fake Spoof Console is Embarrassing the Xbox Series X

KFC Gamings reveal of a new, next-generation console generates more views on social media than the Xbox Series X.The console reveal, a joke response to the PS5 reveal event, has doub…

  • KFC Gamings reveal of a new, next-generation console generates more views on social media than the Xbox Series X.
  • The console reveal, a joke response to the PS5 reveal event, has doub…
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Crypto Currency

Someone paid $2.6 million in fees to move $134 worth of crypto and oops

There are typos, and then there are typos.  Someone appears to have made a mistake this morning when transferring the cryptocurrency ether (ETH), the younger sibling to bitcoin, from one digital wallet to another. After all, when moving around $134 dollars worth of digital currency, it hardly seems like anyone would intentionally pay a $2.6…

There are typos, and then there are typos

Someone appears to have made a mistake this morning when transferring the cryptocurrency ether (ETH), the younger sibling to bitcoin, from one digital wallet to another. After all, when moving around $134 dollars worth of digital currency, it hardly seems like anyone would intentionally pay a $2.6 million fee — and yet that’s exactly what happened. 

That’s right. Someone paid 10,668.73185 ETH, worth approximately $2.6 million at the time, to move 0.55 ETH from one wallet to another. The transaction, in all its painful glory, is visible on Etherscan — a tool for viewing and searching ETH transactions. 

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Crypto Currency

Hartley Sawyer Fired For Racist Tweets – You’re Next, Ellen Degeneres

Hartley Sawyer of The Flash has just been fired after his racist, misogynistic tweets surface.Hes far from the only celebrity with racist social media posts in the past.Its …

  • Hartley Sawyer of The Flash has just been fired after his racist, misogynistic tweets surface.
  • Hes far from the only celebrity with racist social media posts in the past.
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