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PayPal, the internet payments pioneer cofounded by Tesla billionaire Elon Musk, sparked a huge backlash yesterday with a shock new policy that was quickly reversed.
The company, after helping to jump-start last year's huge crypto bull run with its support for bitcoin and a handful of other cryptocurrencies, has scrapped a policy change that would have seen users fined by up to $2,500 for spreading what it called "misinformation," claiming the update had gone out "in error."
The reversal followed a flood of accusations from former management and regulators that branded the policy "insane," "Owellian" and "the best thing that has happened for the adoption" of bitcoin and crypto. Read More
Soto is among the most vocal supporters of cryptocurrency and blockchain technology working in Congress today.
A global alliance for advancing innovation and inclusion of cryptocurrency is recognizing U.S. Rep. Darren Soto of Orlando as one of nearly 30 members of Congress working to lead America into a “vibrant digital future.”
The Crypto Council for Innovation, which launched in April 2021 to advocate for crypto-inclusive policies across the globe, held its inaugural Digital Future Award event Tuesday in Washington. Read More
Inside metaverse platform Decentraland. (decentraland.org)
While metaverse platforms Decentraland and The Sandbox both have below 1,000 daily active users, they each have over $1 billion in valuation. So who's actually using the metaverse right now?
What’s going on in the metaverse these days, you might ask. Looking at two of the biggest companies with over $1 billion valuations, the answer is surprising: Not much, or at least not enough to bring users back every day. According to data from DappRadar, the Ethereum-based virtual world Decentraland had 38 active users in the past 24 hours, while competitor The Sandbox boasted 522 active users in that same time. Read More
Bitcoin fell as markets digest an increased likelihood of a 75 basis point interest rate hike. (Charl Folscher/Unsplash)
Investors are nervous about rampant inflation prompting yet another massive rate hike by the Fed, and the economic damage that might cause.
Bitcoin and ether traded down to close the week, decreasing in line with traditional risk assets, though not to the same extent.
The CoinDesk Market Index (CMI), a broad-based market index that measures the performance of a basket of cryptocurrencies, decreased -0.80%.
In traditional financial markets, the Dow Jones Industrial Average (DJIA), tech-heavy Nasdaq Composite and S&P 500, which has a strong technology component, were down 2.1%, 3.8%, and 2.8%, respectively. Read More
Analytical Data
⛏ Bitcoin’s hash rate grows 3x since China ban despite crypto winter
Despite the cryptocurrency sector still scrambling to surpass the $1 trillion market capitalization mark, the mining power of its largest asset – Bitcoin (BTC) – continues to grow and reach new highs seemingly every week. Indeed, the Bitcoin hash rate has reached a new record, climbing to three times higher than the lows it reached during the China mining ban.
The 'inflation' rate of #bitcoin
$BTC price now is close to the estimated entry price of institutional investors who have been using Coinbase services like prime brokerage, custody, etc.
With more than 2 million customers’ power now restored, Florida Power & Light has restored service to 99% of its customers affected by Hurricane Ian.
— Newest update: As of Friday, approximately 31,000 customers remained without power. The company was aggressively working to restore service to customers able to safely accept power.
Florida Politics
President Joe Biden and Gov. Ron DeSantis proved it is possible for them to work together.
As the cleanup from Hurricane Ian continues, there are the standard vows to rebuild what Mother Nature destroyed. We hear that every time one of these monster storms tosses the coastal areas like a whiffle ball in a wind tunnel.
But maybe it’s time to rethink the wisdom of setting the buildings up just to be knocked down again. I’m not talking about the wind, because improved building codes can somewhat mitigate that. Read More
Even Democrats and Biden voters backed DeSantis' Ian response.
In the wake of Hurricane Ian, two major Florida Republicans seem to have benefited in fresh national polling.
Both Gov. Ron DeSantis and his immediate predecessor, U.S. Sen. Rick Scott, have positive favorable numbers in a new Economist/YouGov poll.
DeSantis seems to have especially been buoyed, with polling specific to his hurricane response showing him above water even with Democrats. Read More
Events
Click below for events & meetups in October 2022
Florida Bitcoin & Blockchain Summit (Tampa) November 3rd & 4th
Crypto News Heard Around the State
Central Florida News
South West Florida
Miami News
Jacksonville
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Disclaimer: Crypto Flo DOES NOT provide financial advice. All content is for informational purposes only. Crypto Flo is not a registered investment, legal, or tax advisor or a broker/dealer. Trading any crypto-related asset is extremely risky and could result in significant capital losses.