HashKey Capital forms liquid fund to bet big on altcoin

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• Jack Dorsey leads $6 million funding for Azteco

  TL;DR Breakdown Jack Dorsey leads other firms and individuals in a $6 million seed funding for crypto app, Azteco. Azteco wants to use the funds to expand into America and Europe. Jack Dorsey, former CEO of Twitter and current co-founder and CEO of Block, has taken the lead in a $6 million seed funding round for Azteco, a Bitcoin payments firm. Azteco offers a unique approach to buying Bitcoin globally, with a specific focus on making it more accessible to unbanked populations. Their model allows users to purchase Azteco vouchers online or at physical stores, which can then be redeemed for Bitcoin, similar to purchasing a gift card or a mobile phone top-up. Jack Dorsey says the funding will help Azteco By bypassing traditional exchanges and enabling users to acquire Bitcoin directly with their local currency, Azteco provides greater flexibility and convenience, earning recognition in the Bitcoin community as a project with the potential to address financial inclusion for the unbanked. The platform aims to bridge the gap for individuals who lack access to financial services, particularly in regions with…

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• CFTC warns clearing organizations of risks associated with digital assets

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• Here is how Meta is addressing UK concerns

  TL;DR Breakdown Social media conglomerate Meta has proposed to restrict its use of data from other businesses’ ads for its Facebook Marketplace services to address the UK’s Competition and Markets Authority (CMA) competitive concerns. The proposal includes an opt-out feature for advertisers, preventing their data from being used to enhance Facebook Marketplace. The CMA is considering these commitments which, at this stage, it believes will alleviate competition worries. In a move that could potentially redefine its digital commerce landscape, social media conglomerate Meta has presented proposals to the UK’s Competition and Markets Authority (CMA) aimed at mitigating competitive concerns. The proposition involves restricting the usage of data gleaned from other businesses’ advertisements for its Facebook Marketplace services. Meta’s strategy to resolve competition issues The centerpiece of Meta’s proposal is an opt-out feature, which empowers advertisers to prevent their data from being employed to improve the functionality of the Facebook Marketplace classified ads platform. The company hopes this step would help to assuage the CMA’s concerns around data misuse. Michael Grenfell, the executive director of enforcement at the CMA, has welcomed…

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• BRICS creator calls the idea of creating a common currency ‘absurd’

  TL;DR Breakdown Jim O’Neill has dismissed the idea of the emerging nations within the group establishing their currency, calling it “absurd”. O’Neill expressed his skepticism about the practicality of creating a unified currency for the five nations with vastly different economies. Description Jim O’Neill, who created the BRICS acronym as an economist at Goldman Sachs, has dismissed the idea of the emerging nations within the group establishing their currency. As Brazil, Russia, India, China, and South Africa contemplate expanding the bloc, he labeled the concept of an independent currency as “absurd.”  Looking back over the eight years … Read more Jim O’Neill, who created the BRICS acronym as an economist at Goldman Sachs, has dismissed the idea of the emerging nations within the group establishing their currency. As Brazil, Russia, India, China, and South Africa contemplate expanding the bloc, he labeled the concept of an independent currency as “absurd.”  Looking back over the eight years since he coined the term in a 2001 research note as the bank’s chief economist, O’Neill expressed his view that the BRICS coalition has yet…

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