GitLab CEO Supports Universal Income Coin and BNB Boost TechRadar

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Global Income Coin, a non-profit crypto company, has secured $2 million to launch a new cryptocurrency that aims to provide a universal basic income of $1 a day to everyone in the world.

The funding comes from a personal donation from Sid Sijbrandij (pictured), co-founder and CEO of GitLab, and will be used to help fund operations, expand the team, and perform R&D.

Later this year, Global Income Coin plans to launch a new cryptocurrency, GLO, an alternative to fiat currencies such as the dollar, euro, and yen. Global Income Coin will encourage consumers and businesses to use GLO for payments. The more GLO is used as currency, the more UBI it generates.

“Global wealth levels suggest we should be able to eradicate poverty if we work together. Global Income Coin can be a major systemic part of the solution,” said CEO Jeffrey Milewski, an academic specializing in economics, finance, and blockchain.

“Blockchain technology can enable a fairer system of wealth distribution, enabling greater income equality globally. In the current monetary system, governments capture all the benefits of central bank money creation.

“We envision moving to a system where people directly reap the fruits of economic growth and regardless of their nationality.”

Sijbrandij said: “Earning opportunities are very different from one country to another, which contributes to perpetuating poverty in the world. It is a moral imperative to treat everyone well.

The non-profit organization is currently being incorporated as the Global Income Coin Foundation in Zug, Switzerland. Its operations rely entirely on philanthropic donations.

NFT SoundMint platform to “reinvent the way music is created”

A generative platform for music NFTs has raised $1.7 million in seed funding.

SoundMint claims to reinvent the process of creating a new form of art and music by bringing innovation to the way people interpret music collectibles on the Web3, where the majority of the sale goes to the artist.

His NFTs are musical compositions derived from stems, with varying acoustic properties, algorithmically combined to create a set of unique musical works of art. As a new form of generative music, NFTs are associated with visual elements, each as variable as the music itself.

By owning a SoundMint collectible, the company says fans can support artists by investing in their work today and have a voice in what’s created in the future.

Funds will be used to create an NFT marketplace that will allow artists to create their own music NFTs as well as interact with collectors and other creatives, create a dashboard for fans with NFTs to view exclusive content artists and release a token, buyout program and ecosystem fund.

SoundMint’s inaugural drop between musical artist Kloud and visual artist Hooker sold 5,000 copies worth $2.5 million.

Cryptocurrency Shorts

Data compiled by BanklessTimes shows that investments in NFT startups grew from $44 million in 2020 to $2.2 billion in 2021, an increase of more than 49 times. NFT startups saw the largest increase in venture capital funding growth among all FinTech trends, with crypto exchanges second with a 16x increase to $7.3 billion.

Messaging app Telegram now supports free crypto payments among its 550 million users through the TON Foundation’s toncoin token. You can also now buy bitcoins in the app. Telegram’s plans to launch its own token fell flat following a legal challenge from US regulator the SEC.

Cryptocurrency exchange Binance is launching a crypto debit card for the 11 million people who have been displaced by war in Ukraine. The company will offer refugees $75 a month for three months in its Binance USD stablecoin, which the card will automatically convert to local currency when making a purchase.

Starling Bank CEO Anne Boden told Financial News that “too many transactions that enter crypto exchanges are fraudulent, and until the industry puts more and more controls in place…we we must all be wary of this space”.

90% of UK financial institutions believe cryptocurrencies will be mainstream adoption in less than a decade, according to the Bitstamp Crypto Pulse report. This means that UK institutions are the most confident in crypto across Europe, ahead of countries like France and Germany.

Crypto prices

The aggregate market cap of over 19,100 coins is $1.81 trillion, up 0.4% in the past 24 hours, with Binance Coin standing out among the top coins.

Bitcoin market leader – ta original cryptocurrency created by the mysterious Satoshi Nakamoto – rose slightly for $39,450 at time of writing (7am UK). BTC is drop of 3% in one week.

Ethereum, the second most valuable crypto coin – created as an announcementdecentralized network for smart contracts on the blockchain – gained 1% to top $2,900. ETH, which is set to get a huge upgrade soon, is down 3% in a week.

Binance Coin is a cryptocurrency created by popular crypto exchange Binance to help it become the infrastructure service provider for the entire blockchain ecosystem. Its BNB token rose 4% to $405, leaving it down 2% over seven days.

Solana is a blockchain designed to make decentralized finance accessible at scale – and capable of processing 50,000 transactions per second. His SOL token has lost 1% to $97 and is down 6% from a week ago.

Ripple’s XRP token, a payment settlement asset exchange and remittance system, acts as a bridge for transfers between other currencies. XRP fell 1% to 64 cents, leaving it down 13% over seven days.

Terra, described as a programmable currency for the internet, fell 4% to less than $86. Its LUNA payment token is 9% lower than its price a week ago.

Cardano is an open-source network facilitating dApps that sees itself as an updated version of Ethereum. Its ADA token, designed to allow owners to participate in the operation of the network, remained below 84c. That’s 10% down over the course of a week.

The Meme DOGE coin was created as a satire on the hype surrounding cryptocurrencies, but is now a major player in the space. DOGE rose 1% to the top 14c, moving it above Avalanche in the market cap valuation chart and 2% in a week.

Avalanche, a lightning-fast verifiable platform for institutions, businesses and governments, came out of nowhere months ago to break into the top 10 currencies. His The AVAX token fell 3% to $67 and is down 13% in a week.

Polkadot was founded by the Swiss-based Web3 Foundation as an open-source project to develop a decentralized web. Its DOT token, which aims to securely connect blockchains, has remained around $16.88 and is 9% lower than its price a week ago.

To see how the valuations of major coins have changed lately – and for a roundup of recent developments in cryptocurrency news – click here.

For valuations of the top 250 coins by market cap, plus 24-hour price change and volume traded, see below.

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GitLab CEO Supports Universal Income Coin and BNB Boost TechRadar


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