Bitcoin and other cryptocurrencies enjoyed an 8 percent jump in value Wednesday following President Joe Biden’s signing of a six-part executive order designed to protect U.S. consumers, investors and businesses, foster global financial stability and mitigate the national security risks presented by the illicit use of digital assets. The Executive Order also seeks to reinforce U.S. leadership in the global financial system, promote a more equitable financial system and encourage technological development and responsible use of digital assets. Perhaps most surprisingly, the order also prioritizes exploring a U.S. Central Bank Digital Currency (CBDC). Continue reading Biden Orders Roadmap for Responsible Crypto Development

“Preparing for the Multiverse” was the subject of ETC@USC’s latest virtual Digital Town Square event. As the culture, art and commerce spaces rebalance to incorporate blended physical and virtual options, it is clearly important that we understand early on how changes will impact our business and creative endeavors. Our speakers spend their days thinking about how the emerging metaverses will impact creativity, business development and the fabric of society. We chose the word “multiverse” because we expect many metaverses to develop and compete — some designed top-down by multinational corporations and others developed bottom-up by DAO communities. Continue reading ETC Examines Realities of Multiverse at Digital Town Square

The Decentralized Autonomous Organization raised $160 million in Ether, a virtual currency that is an alternative to Bitcoin. The experimental project was hailed as the most successful crowdfunding effort ever, until last Friday when a hacker made away with more than $50 million. Although the hack was frozen and the project’s computer scientists plan to rewrite Ether’s code to recover the money, the project most likely will end, leaving in its wake a bigger debate than ever about the viability of virtual currency. Continue reading Blockchain: More Than $50 Million in Virtual Currency Hacked