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New York City is making a major move in the Bitcoin and cryptocurrency space. According to a press release, the city has created the New York City Office of Digital Assets and Blockchain to solidify its positioning as the “world’s hub for financial and technological innovation.” This resulted from Executive Order 57 — signed by New York City Mayor Eric Adams on Oct.14 — and is the first mayoral office of its kind. “From day one, our administration has kept New York City ahead of the curve because when we embrace technology, we deliver a safer, more affordable city,” said Mayor Adams in the press release. “In 2022, I became the first American mayor to convert my first three paychecks into crypto, and this past May, our administration hosted the first-ever crypto summit at Gracie Mansion. Today, with the nation’s first mayoral agency focused solely on digital assets and blockchain technology, we continue to signal the opportunities this new form of technology can bring to New York...
Kevin Durant is sitting on a lump sum of money he can’t access. With 15 All-Star appearances, the athlete has been in the NBA for 18 years and currently represents the Houston Rockets. On the court, Durant’s career earnings total to $447.9 million, notes Spotrac. He also reaps additional benefits through deals with FanDuel, Nike, and Fanatics, according to Forbes. As noted by the NBA, Durant made history as the third NBA player to sign a lifetime contract with Nike, joining Michael Jordan and LeBron James. Investments Durant also has a knack for investing and even launched Thirty Five Ventures (35V), an investment company founded alongside his agent, Rich Kleiman. Forbes notes that Durant has invested in more than 80 companies through 35V. As AFROTECH™ previously reported, 35V’s portfolio includes Goalsetter, Fractional, and Hugging Face. Bitcoin Durant has also entered the world of bitcoin, but there is a catch. At CNBC’s Game Plan 2025 event, Rich Kleiman said he encouraged Durant...
Ye, formerly known as Kanye West, has entered the crypto world. What To Know About $YZY The “Ultralight Beam” rapper launched the $YZY token on the Solana blockchain platform and announced it on X. The token’s website describes it as a “concept for a new financial system, built on crypto rails.” On X, Ye also refers to the $YZY token as “Yeezy Money.” “YEEZY MONEY IS HERE. A NEW ECONOMY, BUILT ON CHAIN,” he wrote on X. Photo Credit: X Upon its launch, the token, described by Forbes as a “memecoin,” sent people into a frenzy. Within 40 minutes, the coin reached a $3 billion market capitalization at its peak before moving to $1.1 billion, according to Forbes and information shared with AFROTECH™. It was also noted that the coin increased by nearly 1,000% upon its launch. CoinDesk reports the token’s price has now fallen below $1. Nansen, an on-chain analytics firm, said early buyers have reported millions in wins and losses within hours of trading. According to the top 500 wallets...
Odell Beckham Jr. has no regrets with going against the grain. Decision To Accept Bitcoin In 2021 As AFROTECH™ previously told you, Beckham made the decision in 2021 to accept bitcoin as the form of payment for his contract at the time with the Los Angeles Rams, in partnership with Cash App. In doing so, he followed in the footsteps of Russell Okung, who was the first player in the NFL to be paid in bitcoin. In fact, Okung reportedly agreed to receive half of his $13 million salary at the time ($6.5 million) in the form of bitcoin, which was later worth $20 million by 2024, according to Bleacher Report. As for Beckham’s investment, he reportedly received a $750,000 payout from the Rams, which was converted into bitcoin, a separate article from the Bleacher Report mentions. To commemorate the announcement, Beckham Jr. also gave money to his fans in the form of bitcoin. “It’s a NEW ERA and to kick that off I’m hyped to announce that I’m taking my new salary in Bitcoin thanks to Cash...
Snoop Dogg is on to his next venture in the NFT space. As AFROTECH™ previously reported, he agreed to be compensated in Bitcoin back in 2013 when he released his album “Reincarnated.” In a separate article, AFROTECH™ shared Snoop Dogg had been revealed as the hidden figure behind Cozomo de’ Medici, a popular non-fungible (NFT) Twitter platform, which had 175 tokens worth millions of dollars by 2021. That same year, he also released an NFT collection, titled “A Journey with the Dogg,” to pay homage to his early years as an artist. Snoop Dogg x Telegram Now in his latest move, t he “Drop It Like It’s Hot” artist has partnered with Telegram, a messaging app founded by Pavel Durov that claims to be one of the most downloaded apps with over 1 billion users, its website mentions. Snoop Dogg can be shown in an Instagram post commemorating the partnership with a theme song, titled “Gifts.” He also currently has 212,218 subscribers on the platform (at the time of this writing). View this...
The crypto market is surging following a major regulatory shift. According to CNBC, XRP jumped 10% to $2.49 after Ripple CEO Brad Garlinghouse announced that the U.S. Securities and Exchange Commission (SEC) has dropped its case against the company. This decision marks the end of a four-year legal battle that has shaped the industry’s regulatory landscape and fueled speculation about a broader shift in the SEC’s approach. Ripple’s Long-Awaited Victory Speaking at the Digital Assets Summit in New York, Garlinghouse reflected on the drawn-out legal fight, calling it a painful yet necessary battle for the industry. “It’s been almost four years and about three months since the SEC originally sued us, certainly a painful journey in lots of ways,” Garlinghouse said. “I really deeply believed that we were going to be on the right side of the law and on the right side of history.” The SEC sued Ripple in 2020, alleging that the company sold XRP as an unregistered security. Ripple scored a...
50 Cent is known for his forward-thinking, so was he ahead of the curve with Bitcoin? In 2014, it was said he was one of the first to embrace cryptocurrency in the music industry by TMZ. He agreed to accept B itcoin as payment for the album sales of “Animal Ambition,” NPR reported. He was driven by a desire to “stay with [the] times,” mentioned CNBC. At the time it was said 50 Cent had received nearly 700 bitcoins, placing its value at more than $400,000. By 2018, Bitcoin’s value had reportedly surged and the bitcoin was worth between $10,000 to $12,000 per coin. This increase brought the estimated value of 50 Cent’s 700 Bitcoin to a range between $7 million and $8.5 million. “Not Bad for a kid from South Side, I’m so proud of me,” 50 Cent wrote in a now-deleted Instagram post, according to CNBC. “I’m a keep it real. I forgot I did that sh-t.” While Bitcoin’s worth was impressive at the time, its value has grown since. Benzinga reported that bitcoin’s value soared to $68,973 by...
A cryptocurrency token tied to Ripple Labs is on the rise. What’s more, if you were compelled to invest in XRP following a private Consensus conference after-party hosted by Ripple Labs and featuring Snoop Dogg in May 2018, you’re likely on cloud nine. ICYMI: Snooperang @SnoopDogg #XRPCommunity pic.twitter.com/RWjBsKUVhI — Ripple (@Ripple) May 16, 2018 According to Forbes, the token has been fairing well, particularly after Donald Trump was elected as the 47th president of the United States. It also highlights optimism stemming from Gary Gensler’s planned departure as chair of the U.S. Securities and Exchange Commission in 2025, with anticipation for him to be replaced by a U.S. President-Elect Donald Trump appointee. The SEC sued Ripple in 2020, alleging that the company failed to register its XRP token as a security before selling it, reports Business Times. Benzinga states that XRP had seen a rise of 87% between Nov. 27 and Dec. 3, 2024. In a 24-hour period ending Dec. 3, it...
Bitcoin has surged to its highest level since April, reaching $73,544. Forbes reported that the Nov. 5 presidential election is among several market factors affecting the $1.4 trillion cryptocurrency, contributing to the 6% increase recorded around 3 p.m. EDT (7 p.m. GMT) on Tuesday, Oct. 29. The rise puts Bitcoin’s October gains at 13%, outpacing the S&P 500, which advanced 1% this month. Several other major cryptocurrencies and shares of companies involved in Bitcoin mining — the energy-intensive process of unlocking bitcoins from the digital blockchain — also saw significant gains Tuesday. Ethereum jumped 4% to reach a 10-day high of $2,637, while Binance Coin increased 2% to an eight-day high of $608. Solana climbed 2%, reaching a three-month high of $182. Prominent investors, including hedge fund billionaire Paul Tudor Jones, are promoting Bitcoin as protection against inflation, particularly as government policies from presidential candidates Kamala Harris and Donald Trump are...
50 Cent claims his social accounts fell victim to a cryptocurrency scheme. Fox News reports the rapper’s X account had been hacked to promote a cryptocurrency token called $GUNIT. The token’s name suggests his former Hip-Hop group G-Unit. On Friday, June 21, 2024, the scammer allegedly wrote on 50 Cent’s account, “$GUNIT for winners only…” Complex reports 50 Cent’s Instagram account included screenshots of the $GUNIT crypto, which showed under $1 million in market value, and that number quickly increased. The message gained popularity, accumulating 57,000 likes on June 22 and drawing hundreds of users to the comments section, with some even making purchases. Despite this, 50 Cent stated he was not associated with the venture, and his accounts were later locked, Fox News notes. 50 Cent claims the hacker made $3 million within 30 minutes from the scam. It’s not possible to verify 50 Cent’s assertions, nor is there a way to confirm if the hacker earned the alleged $3 million. “My...
Canza Finance’s co-founders are leaning into Web3 to financially empower the African continent. Pascal Ntsama IV and Oyedeji Oluwoye are looking to create “the world’s largest non-institutional-based financial system” through the creation of Canza Finance, the company website mentions. They both share distinct journeys on how they arrived to the company’s inception. For Chief Technology Officer Oluwoye — born in Nigeria, Africa, and raised in Sydney, Australia, before moving to the United States at 14 — he began taking various CompTIA Certifications, early-career data analytics certification, during his senior year of high school. After graduation, he headed to the Alabama Agricultural and Mechanical University to obtain a Bachelor of Science degree in computer science. While in college, he was able to secure a position with Adtran, a networking and telecommunications company based in the U.S., as a co-op engineer. He then transitioned to work at AT&T as a senior specialist-network...
Getting to the money is an idea that most people can get behind. From becoming a social media influencer to navigating a traditional job or even jumping into entrepreneurship, people are looking for ways to secure the bag and maximize wealth. One of the ways people are expanding their worth is through investments and alternative forms of traditional currency like cryptocurrency. And although cryptocurrency has become more and more popular, the reality of it still makes people scratch their heads a little bit. While crypto has been around since 2009, it has evolved. The digital currency market is expansive, and conversations around its use and inclusion in everyday life have become increasingly routine. And with such evolution comes questions about its usage and what it means for the future. Even the IRS requires users to claim crypto on their taxes, but it’s categorized as property. With so many uses, how can a person determine the best use of the currency? It is at this...
