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Crypto Mining Company Core Scientific to Go Public on Nasdaq With a $4.3B Valuation

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Core Scientific, a digital asset mining firm, aims to be the next company from the crypto space in line to become publicly traded at a $4.3 billion evaluation. Instead of an IPO, Core will merge with a SPAC called Power & Digital Infrastructure Acquisition Corp.

  • As reported on July 21st, Core Scientific, a crypto miner with operations in several US states, plans to go public on Nasdaq through a merger with Power & Digital Infrastructure Acquisition Corp – a special purpose acquisition company (SPAC).
  • After the deal, both parties’ estimated valuation should skyrocket to just over $4 billion.
  • However, the company has failed to provide more details about when precisely it aims to become public or what would be the ticker.
  • According to Darin Feinstein, co-founder and co-chairman of Core, the company’s “blockchain infrastructure business is unparalleled, backed by more than 70 blockchain and infrastructure-related patents and applications.”
  • Core’s CEO, Mike Levitt, indicated that his firm had mined more than 3,000 bitcoins so far this year. Additionally, he outlined significant demand for its products as the capacity is “basically sold out through 2022.”
  • Should Core indeed become a publicly traded company, it will join a growing number of digital asset representatives available for trading on giant exchanges.
  • Perhaps the biggest name to do so earlier this year was Coinbase. The largest US crypto trading venue went public on Nasdaq with a valuation of $100 billion.
  • As Coinbase was preparing for the move, other crypto-affiliated firms like Bakkt, eToro, and Kraken highlighted similar plans.
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Source: https://cryptopotato.com/crypto-mining-company-core-scientific-to-go-public-on-nasdaq-with-a-4-3b-valuation/

Blockchain

Binance Teams up with Russian Museum to Tokenize Da Vinci and Van Gogh Masterpieces

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Binance NFT marketplace and the Saint Petersburg-based State Hermitage Museum joined forces to create and release a limited edition of non-fungible tokens with digital copies of world-known masterpieces. The collection will consist of works by Vincent van Gogh, Leonardo da Vinci and many more.

NFT Copies of Renown Paintings

The cryptocurrency exchange Binance announced that it would partner up with one of the largest Russian museums – the State Hermitage Museum – to issue NFTs of respected work of arts such as Lilac Bush (Vincent van Gogh), Madonna Litta (Leonardo da Vinci), Corner of the Garden at Montgeron (Claude Monet), and Composition VI (Wassily Kandinsky).

Binance will launch the auction at the end of August 2021. Each artwork will consist of two NFT copies: the first will be stored in the Saint-Petersburg Museum, while the second will be sold on the Binance NFT marketplace. As part of the collaboration, the Hermitage will collect all the earnings from the project.

Mikhail Piotrovsky – the director of the museum – will personally sign each copy providing the limited series of work with authenticity and uniqueness. The project would aim to outline the democratic nature of the State Hermitage and show that digitalization would inevitably be the next step in the world of collecting artworks.

Mikhail Piotrovsky
Mikhail Piotrovsky, Source: Wikipedia

“New technologies, in particular blockchain, have opened a new chapter in the development of the art market, led by the ownership and the guarantee of this ownership… This is an important stage in the development of the relationship between person and money, person and thing,” added Piotrovsky.

In her turn, Helen Hai – Head of Binance NFT – commented on the mutual partnership:


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“Recognition of blockchain technology and NFTs by one of the largest museums in the world is another step towards global digitalization. We highly appreciate the opportunity to cooperate with The State Hermitage; together we are making history.”

According to the announcement, any user of the platform can participate in the auction. Binance’s NFT marketplace will employ the same account network as Binance.com, so new customers will need to register with the exchange first.

Golden Tickets for A Celebrity Poker Tournament: NFT Trend Continues

As CryptoPotato reported last week, the world’s first fully licensed blockchain-based peer-to-peer poker platform – Virtue Poker – teamed up with Binance NFT marketplace to offer a one-of-a-kind non-fungible token.

The partnership, named “The Phil Ivey Golden Ticket NFT,” will feature the first and only Phil Ivey Binance Smart Chain based NFT and will grant an entry into a Celebrity Poker Tournament that includes NBA Hall of Fame player Paul Pierce, Ethereum Co-Founder Joe Lubin, Hollywood actor Vince Vaughn, and YouTube star Mr. Beast.

As announced, anyone who wants to win a seat at the poker table can participate in the auction today, July 27th, starting at 12 pm UTC.

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Source: https://cryptopotato.com/binance-teams-up-with-russian-museum-to-tokenize-da-vinci-and-van-gogh-masterpieces/

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Blockchain

Goldman Sachs Files for “DeFi” ETF to Track Tech Giants

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The banking giant filed an application with the U.S. Securities and Exchange Commission (SEC) on July 26 for a DeFi ETF that would offer exposure to public companies.

According to the filing, the proposed fund called the “Goldman Sachs Innovate DeFi and Blockchain Equity ETF”, seeks to provide investment results that closely correspond to the performance of the Solactive DeFi and Blockchain Index from the German indices provider.

The details were thin on the ground but the fund will invest at least 80% of its assets into securities, stocks, and fintech firms featured in the index.

DeFi Fund Without The DeFi

It appears that Goldman may be a little confused over the definition of “DeFi”. A closer look at the Solactive Index reveals that it is largely comprised of U.S. tech giants and international telecoms companies.

Of the top twenty components in its July 23 report, not one of them could be described as a DeFi or blockchain project or organization. The top three were Nokia, Facebook, and Google’s Alphabet.


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Also in the list of stocks tracked were payments giants Visa, Mastercard, and PayPal, tech giants Microsoft, IBM, and Intel, and Chinese e-commerce and telecoms monopolies Baidu, Alibaba, and Tencent.

Hardly what anyone would describe as “decentralized finance”.

It is not the first time Goldman Sachs has got its wires twisted over the crypto industry.

Confusion Reigns at Goldman

In a June 14 report, titled “Digital Assets: Beauty Is Not in the Eye of the Beholder”, the bank concluded that Bitcoin is not “a long-term store of value or an investable asset class”.

They contradicted a May 21 report titled “Crypto: A New Asset Class?” which was largely positive about them with the global head of digital assets at Goldman, saying “Bitcoin is now considered an investable asset”.

Earlier this month, analysts at the investment bank outlined their reasoning behind the claim that Ethereum will eventually become a better store of value than Bitcoin. It also reported that 45% of the ultra-rich are interested in crypto.

In April, Goldman added Bitcoin to its year-to-date returns report, and in March, the bank filed for a Bitcoin ETF with the SEC according to crypto custody firm New York Digital Investment Group (NYDIG).

Now it seems that Goldman has equated DeFi with the likes of Facebook, Google, and Microsoft!

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Source: https://cryptopotato.com/goldman-sachs-files-for-defi-etf-to-track-tech-giants/

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Blockchain

Goldman Sachs Files for “DeFi” ETF to Track Tech Giants

Published

on

The banking giant filed an application with the U.S. Securities and Exchange Commission (SEC) on July 26 for a DeFi ETF that would offer exposure to public companies.

According to the filing, the proposed fund called the “Goldman Sachs Innovate DeFi and Blockchain Equity ETF”, seeks to provide investment results that closely correspond to the performance of the Solactive DeFi and Blockchain Index from the German indices provider.

The details were thin on the ground but the fund will invest at least 80% of its assets into securities, stocks, and fintech firms featured in the index.

DeFi Fund Without The DeFi

It appears that Goldman may be a little confused over the definition of “DeFi”. A closer look at the Solactive Index reveals that it is largely comprised of U.S. tech giants and international telecoms companies.

Of the top twenty components in its July 23 report, not one of them could be described as a DeFi or blockchain project or organization. The top three were Nokia, Facebook, and Google’s Alphabet.


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Also in the list of stocks tracked were payments giants Visa, Mastercard, and PayPal, tech giants Microsoft, IBM, and Intel, and Chinese e-commerce and telecoms monopolies Baidu, Alibaba, and Tencent.

Hardly what anyone would describe as “decentralized finance”.

It is not the first time Goldman Sachs has got its wires twisted over the crypto industry.

Confusion Reigns at Goldman

In a June 14 report, titled “Digital Assets: Beauty Is Not in the Eye of the Beholder”, the bank concluded that Bitcoin is not “a long-term store of value or an investable asset class”.

They contradicted a May 21 report titled “Crypto: A New Asset Class?” which was largely positive about them with the global head of digital assets at Goldman, saying “Bitcoin is now considered an investable asset”.

Earlier this month, analysts at the investment bank outlined their reasoning behind the claim that Ethereum will eventually become a better store of value than Bitcoin. It also reported that 45% of the ultra-rich are interested in crypto.

In April, Goldman added Bitcoin to its year-to-date returns report, and in March, the bank filed for a Bitcoin ETF with the SEC according to crypto custody firm New York Digital Investment Group (NYDIG).

Now it seems that Goldman has equated DeFi with the likes of Facebook, Google, and Microsoft!

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Source: https://cryptopotato.com/goldman-sachs-files-for-defi-etf-to-track-tech-giants/

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