Former New York City Mayor Eric Adams is facing a lot of heat today after his high-profile launch of a new cryptocurrency, dubbed the NYC Token, crashed within hours of launching. Adams launched the token on Monday, but the coin lost 80% of its value within a couple hours. 

Adams unveiled the Solana-based token at a Times Square event on Monday, promoting it as a tool to generate funding for social causes including the fight against antisemitism and “anti-Americanism,” as well as blockchain education and student scholarships.

Eric Adams told Fox Business that proceeds would support nonprofits like Combat Antisemitism and historically Black colleges and universities without…

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Hello Reader,

The shadow economy of FPC Morgantown runs on pouches of mackerel. Yes, the fish. Much like any fiat, or precious metal standard there is no intrinsic value to the currency, to the mackerel.

You might be a smart ass thinking to yourself that surely you can eat the mackerel if you wanted and there is some amount of protein that some prison economist has a model for deriving intrinsic value based on caloric density and protein richness. But alas, no.

If you have time to read this article, you have time to sign the petition to free Samourai Wallet developers Keonne Rodriguez and William Hill. Every signature counts. CLICK THE IMAGE ABOVE OR HERE.

Most of the…

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The bitcoin price briefly climbed above $92,500 today after U.S. inflation data came in line with expectations as markets assessed the Federal Reserve’s policy outlook and rising political tensions surrounding the central bank.

The consumer price index rose 2.7% year over year in December, unchanged from November and matching economists’ estimates, according to the Bureau of Labor Statistics. 

On a month-over-month basis, headline inflation increased 0.3%, also in line with forecasts.

Core CPI, which excludes food and energy, rose 2.6% from a year earlier, compared with expectations for 2.7% and a prior reading of 2.6%. Core inflation increased 0.2% month over…

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21Shares today launched its Bitcoin and gold exchange-traded product, the 21Shares Bitcoin Gold ETP (BOLD), on the London Stock Exchange, expanding the range of crypto-linked investment products available to UK retail investors.

BOLD is the fifth cryptocurrency product from 21Shares to receive prospectus approval from the UK Financial Conduct Authority. It follows the firm’s existing Bitcoin and Ethereum offerings and comes as demand grows for regulated exposure to digital assets through traditional market infrastructure.

The product trades on the LSE in pounds sterling under the ticker BOLD and carries a 0.65% annual management fee, the company said. 

It is fully…

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Some of you may remember an article I published years ago, Understanding Lightning Network Using an Abacus, which I wrote after it became clear to me that many people didn’t fully understand how Lightning works. At the time, my goal wasn’t to explain Lightning’s cryptography or implementation details, but to demystify the core idea behind payment channels. I used the analogy of the abacus to focus on the concept rather than the mechanics. It worked extremely well and people later adopted the abacus analogy to explain Lightning to noobs.

Lately, I’ve been feeling a strong sense of déjà vu.

When discussing Spark, I notice a similar pattern. Some know to say “statechain”,…

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