Wednesday 28 September 2022
Home / food

food

Chipotle takes ‘buy the dip’ literally with new $200K crypto giveaway

United States-based fast casual restaurant chain Chipotle has started an online game which will give customers the chance to win more than $200,000 in crypto. In a Monday announcement, Chipotle said that through July 31 fans would be able to play its "Buy The Dip" — and “eat the dip” — game using their rewards accounts. The company will give away $45,000 in Bitcoin (BTC), $10,000 in Ether (ETH), $13,750 in Solana (SOL), $14,250 in Avalanche (AVAX), and $14,250 in Dogecoin (DOGE) through the game. "We want to build the next generation of Chipotle fandom by connecting with the Web3 community," said Chipotle chief marketing officer Chris Brandt. The restaurant chain gave away $100,000 in BTC in April 2021 as part of a promotion around National Burrito Day. In June, Chipotle announced its roughly 3,000 restaurants in the United States would accept 98 cryptocurrencies as payment through digital payment provider Flexa. Other major fast food chains in the U.S. have organized similar crypto ..

Read More »

CFTC will remodel LabCFTC, education office to increase regulatory efficiency

The United States Commodity Futures Trading Commission (CFTC), the regulatory agency that shares the main crypto regulatory responsibility with the Securities Exchange Commission, will undergo restructuring to become more proactive and comprehensive, CFTC chair Rostin Behnam announced July 25. LabCFTC, which was described as “the focal point for the CFTC's efforts to promote responsible fintech innovation,” will become the Office of Technology Innovation (OTI) and report directly to the chairman’s office. “We are now engaged in a more proactive and comprehensive effort across the agency to regulate these markets with the tools currently available to us,” Behnam said at a Brookings Institute webinar, adding, “Our core policy divisions are now directly addressing how the CFTC can leverage our existing authority to bring important regulatory protections to this market.” Related: Gensler appeals for ‘one rule book’ in negotiations with CFTC over crypto regulation In addition, the comm..

Read More »

Bill addressing stablecoins risks in US likely delayed until September: Report

Lawmakers in the United States House of Representatives have reportedly pushed back the timeline for considering a bill addressing the potential risks of stablecoins. According to a Monday report from the Wall Street Journal, people familiar with the matter said House members will likely delay voting on a stablecoin bill until September after being unable to complete a draft in time for a Wednesday committee meeting. The unresolved issues in the bill reportedly included provisions on custodial wallets from the Treasury Department and concerns from the Securities and Exchange Commission. Treasury Secretary Janet Yellen reportedly wanted to coordinate with the Biden administration for her response to the bill. Neither has publicly weighed in on the proposed legislation, but Yellen previously called for regulatory clarity in the crypto space around stablecoins, citing concerns around TerraUSD (formerly UST) depegging from the U.S. dollar. President Joe Biden’s executive order from March ..

Read More »

The lasting agony of 3AC: Law Decoded, July 18-25

The late spring and summer months of 2022 would be remembered not only for their extreme temperatures across the globe but also for a crushing streak of large crypto companies falling apart. Terra Lab in May, Celsius in June and now, the lasting agony of a Singapore-based crypto hedge fund Three Arrows Capital (3AC). Technically, 3AC was ordered for liquidation by a court in the British Virgin Islands on June 27, but it was last week, which has seen some further developments around the firm. The liquidators of 3AC are brutally demanding access to the company’s Singapore headquarters due to the “virtual radio silence from the management/directors of the Company.” They believe the office may contain cold wallets or information on how to access 3AC trading accounts, which the liquidators want to access before any of them is removed or destroyed. This desire is perfectly understandable, given the sums that had been loaned to 3AC by the creditors — they appeared to be far greater than in e..

Read More »

Fed policy and crumbling market sentiment could send the total crypto market cap back under $1T

The total crypto market capitalization broke above $1 trillion on July 18 after an agonizing thirty-five-day stint below the key psychological level. Over the next seven days, Bitcoin (BTC) traded flat near $22,400 and Ether (ETH) faced a 0.5% correction to $1,560. Total crypto market cap, USD billion. Source: TradingViewThe total crypto capitalization closed July 24 at $1.03 trillion, a modest 0.5% negative seven-day movement. The apparent stability is biased toward the flat performance of BTC and Ether and the $150 billion value of stablecoins. The broader data hides the fact that seven out of the top-80 coins dropped 9% or more in the period. Even though the chart shows support at the $1 trillion level, it will take some time until investors regain confidence to invest in cryptocurrencies and actions from the United States Federal Reserve could have the largest impact on price action. Furthermore, the sit and wait mentality could be a reflection of important macroeconomic events sch..

Read More »

Price analysis 7/25: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, AVAX

Bitcoin (BTC) and most major altcoins are witnessing profit-booking on July 25 as the bulls scale back their positions before the Federal Open Market Committee meeting on July 26 through July 27. This indicates that the sentiment remains fragile and that bulls are not confident about carrying long positions into the event. Several analysts have retained their bearish view after Bitcoin failed to sustain above the 200-week moving average at $22,780. CryptoQuant contributor Venturefounder expects the selling to resume and Bitcoin to fall as low as $14,000 before a macro bottom is confirmed. Daily cryptocurrency market performance. Source: Coin360The institutional investors seem to be absent from the markets and the recovery is being driven by the retail investors. Data from on-chain analytics firm Glassnode showed that investors holding one Bitcoin or less have been accumulating aggressively “more now than ever.” Could retail investors continue their frantic pace of purchasing and put a..

Read More »

Over a quarter of Asian Pacific ‘emerging giant’ startups tied to blockchain: Report

The Asia Pacific region is seeing a major business shift with increasing numbers of new technology startups appearing, even as venture capital investment is decreasing compared to last year. A report from Big Four accountant KPMG and international banking company HSBC based on a survey of 6,472 Asian Pacific startups found that over a quarter of them are blockchain related. Nonfungible tokens, or NFTs, led the way among sectors where Asian Pacific “emerging giants” were active, followed directly by decentralized finance, also known as DeFi. Electric vehicle charging infrastructure, quantum computing and robotic processing automation rounded out the top five sectors. Blockchain real estate and decentralized autonomous organizations (DAOs) ranked 14th and 15th, respectively, on the same list. Despite their strong collective presence, blockchain-related companies were most common in the lower ranks. Among the top 100 emerging giants, only five were blockchain-related, and only one, Hong..

Read More »

Tesla reports $64M profit from Bitcoin sale

Tesla’s decision to offload most of its Bitcoin (BTC) treasuries netted the company a hefty profit in the second quarter, even as crypto prices plunged into a bear market. In the first six months of 2022, Tesla recorded $170 million of impairment losses “resulting from changes to the carrying value” of its Bitcoin holdings, according to an official Form 10-Q filing with the United States Securities and Exchange Commission, or SEC. After selling 75% of its BTC stash for dollars in the second quarter, the company netted a realized gain of $64 million. In finance, an impairment loss occurs when the fair value of an asset held by a company falls below the carrying value of the investment. Tesla recorded per-share earnings of $2.27 in the second quarter on revenues of $16.93 billion. Although profitability was down compared with the first quarter, it was up over the levels of a year ago. However, company profitability was impacted by rising inflation and growing competition for battery ce..

Read More »

Crypto user who lost $163M in Bitcoin wants to deploy robot search party — Report

James Howells, a British man who mistakenly discarded a hard drive containing roughly 7,500 Bitcoin (BTC) in 2013, has reportedly started looking at having robots and humans work together to retrieve his crypto from a local landfill. According to a Sunday report from Business Insider, Howells has pitched an $11-million idea to locate and recover the lost hard drive, which may be surrounded by up to roughly 110,000 tons of garbage. Backed by a few venture capitalists, the proposal involved people, robot dogs and other machines picking up and sorting through the landfill’s trash for up to three years until the lost Bitcoin is found, while another version of Howells’ plan would cost $6 million and take 18 months. Many crypto users recognize Howells’ actions as a telltale story of the importance of keeping track of one’s coins, whether by securely storing private keys or a physical hardware wallet. The Brit threw away the hard drive containing the Bitcoin in 2013 thinking it was blank, onl..

Read More »

What is dollar-cost averaging (DCA) and how does it work?

Many crypto enthusiasts just start investing in cryptocurrencies without a strategy behind it. However, they should be aware that an investment plan is essential when you begin investing in crypto. By sticking to a strategy, you will have a clear overview and become less susceptible to the substantial price fluctuations in the crypto market. Related: A beginner’s guide to cryptocurrency trading strategies For each investor, this investment strategy can be different. After all, you invest in a way that suits your financial goals and that you feel comfortable with. For many people, the dollar cost average method (DCA) is the way to invest their wealth. This is because through this investment method, you make clear agreements that feel manageable for many people. In addition, you can adapt the DCA method to your needs. DCA has some main features but also has room for your own interpretation. So in this article, we’ll cover the different ways DCA can work for you, what the benefits of this..

Read More »