New York Mayor-Elect Eric Adams appears to be doubling down on his pro-crypto stance, asserting that that schools should incorporate cryptocurrency studies into their curricula.
Speaking during a Nov. 7 interview with CNN’s State of the Union, Adams described cryptocurrency as “a new way of paying for goods and services throughout the entire globe,” urging local schools to equip students for “the new way of thinking” brought about by blockchain technology and digital assets.
"We must open our schools to teach the technology, to teach this new way of thinking.”
Adams also anecdotally noted surprisingly low awareness of crypto among his young constituents. “When I talked about blockchain and Bitcoins, young people on the street stopped and asked me, ‘What is that?’” said the 61-year-old Democrat.
He also indicated plans to encourage New York businesses to accept Bitcoin (BTC) and other cryptocurrencies as a form of payment, saying he would “tread carefully” and “get it right.” The mayor-elect added that New York must remain a “centre of innovation, no matter what that innovation is.”
Bakkt Holdings, the digital assets management arm of Intercontinental Exchange (ICE), has announced it will soon become a publicly traded company on the New York Stock Exchange, starting Oct. 18.
The public listing for Bakkt comes as a result of a merger with VPC Impact Acquisition Holdings, a Chicago-based special purpose acquisition company. According to an official statement, a shareholders meeting regarding the merger saw approximately 85.1% approval for the business combination:
“Upon closing, the combined company’s Class A common stock and warrants are expected to begin trading on the New York Stock Exchange (“NYSE”) under the ticker symbols “BKKT” and “BKKT WS” respectively.”
Additionally, the business combination resulted in gross proceeds of approximately $448 million to Bakkt, which it plans to reinvest in growing the company’s capabilities and partnerships.
Just last week, Bakkt announced a partnership with Google to allow the purchase of goods and services using Bitcoin (BTC) and other cryptocurrencies via the Google Pay platform. According to Bakkt CEO Gavin Michael, the partnership “is a testament to Bakkt’s strong position in the digital asset marketplace, to empower consumers to enjoy their digital assets in a real-time, secure, reliable manner.”
Meme tokens and dogcoins have been an integral part of the ongoing market-wide bull run in the cryptocurrency markets. Among the plethora of these tokens that have been flooding the market, two of these tokens, the longer-standing memecoin Dogecoin (DOGE) and Shiba Inu (SHIB), have gained the most traction and popularity.
Most recently, SHIB started rallying on Oct. 23 from trading $0.000028 to hitting an all-time high of $0.000086 on Oct. 28. The token has since cooled down to exchange hands at $0.000052. Despite that, the token has posted 195.5% gains in the last 30 days and an incredible 72,954,679.8% yearly gains.
This led the token to briefly be featured in the 8th place on the list of top 10 cryptocurrencies by market capitalization, but due to the price drop, the token has slipped out of the top 10 to fall to 11th place with a market cap of around $32 billion at the time of writing.
Such returns have put investments in the token in the running for the “Greatest Trade of All Time” as it is revealed that one crypto wallet address purchased SHIB tokens worth $3,500 in August 2020, which multiplied to become worth more than $1.55 billion at the market peak. Another wallet, at one point, owned more than 13% of the total supply of over 549 trillion tokens. However, this whale wallet moved $2.3 billion worth of SHIB tokens on Nov. 5 in four equal transactions to four different wallets that spooked the market and led to a significant drop in the price of the token.
This Daily Dose was brought to you by Cointelegraph.