Bitcoin Experts & Advocates Lobby Congress Over Tax Rules

Faced with new tax rules for cryptocurrencies, Ashton Kutcher, Elon Musk and Square chief executive Jack Dorsey were among those who brought the fight to Washington. They and others in the industry including lobbyists, executives and trade group officials reached out to Congress over a provision in the massive new infrastructure bill that would “expand and strengthen tax enforcement of crypto transactions.” Dorsey “brought the Twitter heat” over the issue, igniting a grass roots reaction among thousands of crypto enthusiasts. Continue reading Bitcoin Experts & Advocates Lobby Congress Over Tax Rules

Andreessen Horowitz Debuts $2.2 Billion Cryptocurrency Fund

Andreessen Horowitz launched a $2.2 billion cryptocurrency fund focused on blockchain and digital asset startups. The venture capital firm’s first crypto-focused fund was introduced three years ago, during the last bear market dubbed “crypto winter,” when cryptocurrency’s value plummeted 80 percent from a 2017 high. Andreessen Horowitz partners Katie Haun and Chris Dixon, who run the company’s cryptocurrency group, stated that they “believe that the next wave of computing innovation will be driven by crypto.” Continue reading Andreessen Horowitz Debuts $2.2 Billion Cryptocurrency Fund

Coinbase Becomes First Cryptocurrency Startup to Go Public

Startup Coinbase, a secure exchange platform that helps people purchase, sell and store cryptocurrencies, has become the first such startup to go public. Shares traded at $381 each, up 52 percent from a reference price of $250, and eventually closed at $328.28, for a company valuation of $85.7 billion, ten times higher than its last private valuation. The San Francisco-based company’s IPO is a landmark for long-time crypto advocates. In its wake, Bitcoin’s value soared to $64,829 and Ether traded at a record-high of $2,487 (which also followed news about upgrades to the Ethereum network). Continue reading Coinbase Becomes First Cryptocurrency Startup to Go Public

Silicon Valley Firms Remain Flexible with Remote Workforce

When the COVID-19 pandemic began in the U.S., companies sent their employees home to work. Since then, the return-to-work date changed from “a few weeks” to September, and then January. Now, with the virus still problematic in many parts of the country, Google became the first to tell employees they’ll be back July 2021, followed by Airbnb, Slack and Uber and, more recently, Ford Motor Company. Microsoft, Target and The New York Times also plan to return in summer 2021, while Dropbox has made remote working the default for employees. Continue reading Silicon Valley Firms Remain Flexible with Remote Workforce

Tech Firms Consider Remote Work Options After Coronavirus

Apple, Facebook, Microsoft and Twitter were among the first U.S. companies to send their employees home as the coronavirus spread. Now, as they reopen their campuses, they are also allowing some of employees to continue to work from home. If that policy becomes widespread, it will be a major change from the college-like corporate campuses the companies built to encourage creativity and spontaneous interactions. Working from home will be its own perk and allow companies to broaden their search for workers. Continue reading Tech Firms Consider Remote Work Options After Coronavirus

Cryptocurrency Industry Sets Up Washington Lobbying Group

Several cryptocurrency companies and their advocates have formed the Blockchain Association, the first-ever Washington, DC-based lobbying group to represent the fledgling industry and its investors and entrepreneurs. Among the companies behind the association are Coinbase, Circle and technology startup Protocol Labs, as well as investors Digital Currency Group and Polychain Capital. Kristin Smith, who lobbied on blockchain for Overstock.com when it began accepting bitcoin in 2014, will lead the group. Continue reading Cryptocurrency Industry Sets Up Washington Lobbying Group

Highlights From Mary Meeker’s 2018 Internet Trends Report

Noted venture capitalist and Kleiner Perkins Caufield & Byers partner Mary Meeker recently released her annual Internet Trends report at the Code Conference in Rancho Palos Verdes, California. Among the 294 slides, Meeker explained that smartphone shipments did not grow in 2017, and Internet user growth slowed to 7 percent (more than half the world is already online). However, people are spending more time online. Of the 5.9 hours per day that U.S. adults spent on digital media last year, 3.3 were spent on mobile, which is leading the charge in digital media consumption. Continue reading Highlights From Mary Meeker’s 2018 Internet Trends Report

Chat App Kik Plans Debut of Ethereum-Based Cryptocurrency

Ted Livingston, founder/chief executive of messaging app Kik, is a Bitcoin enthusiast — so much so that he plans to debut his own cryptocurrency, dubbed Kin and based on the Ethereum network, later this summer. The company plans what is called an initial coin offering (ICO), which lets startups create their own digital money, raise funds via crowdsourcing, and thus develop their own cyber economies. Livingston had previously launched another cryptocurrency, Kik Points, in 2014, which ended its run in the fall. Continue reading Chat App Kik Plans Debut of Ethereum-Based Cryptocurrency

Bitcoin Market Trending Upwards, But Ethereum On the Rise

The Bitcoin market, almost a decade old, is now skyrocketing in value. Behind Bitcoin’s rising price are investments by Japanese investors and a heightened perception of global perils. Over the weekend, according to the website CoinDesk, the price of Bitcoin reacted to a sudden spell of speculative investment, trading above $2,200 on Monday, which represents more than 15 percent from the closing price of $1,913 on Friday. Bitcoin is up 397 percent from a year ago and 130 percent this year. Continue reading Bitcoin Market Trending Upwards, But Ethereum On the Rise