Connect with us

Cryptocurrency

Mozilla Halts Collecting Crypto Donations Following Backlash

Published

on

Tech organisation and makers of the Firefox web browser, Mozilla has announced on Thursday, that it would be pausing the ability to accept cryptocurrency donations.

The backlash against the nonprofit organization comes after Mozilla’s founder, Jamie Zawinski tweeted a scathing criticism of the company for accepting cryptocurrency donations.

Zawinski who stopped working for mozilla.org in 1999, tweeted on January 3 this year, scathing criticism to a December 31st Mozilla tweet promoting that it accepted cryptocurrency donations.

Mozilla began accepting bitcoin for donations in 2014.

Addressing the company, Zawinski wrote, “Hi, I’m sure that whoever runs this account has no idea who I am, but I founded @mozilla..

He condemned the crypto collection, saying, “Everyone involved in the project should be witheringly ashamed of this decision to partner with planet-incinerating Ponzi grifters.”

Peter Linss, who made the Gecko engine that underpins Firefox, also tweeted his disapproval to Mozilla as well.

“You were meant to be better than this,” Linss wrote.

The reason why many have berated Mozilla, Business Insider noted, is because cryptocurrencies have come under significant scrutiny for their impact on the environment and the fact that the bulk of supposed crypto wealth seems to currently be available to a limited few.

Addressing the backlash on Thursday, Mozilla in a Twitter thread said, “Last week, we tweeted a reminder that Mozilla accepts cryptocurrency donations.

“This led to an important discussion about cryptocurrency’s environmental impact.”

The company added that it will be “reviewing if and how our current policy on crypto donations fits with our climate goals,” and while that review is taking place, it will be pausing crypto donations.

Mozilla also promised that the review will be “a transparent process” and that it will “share regular updates.”

“In the spirit of open-source, this will be a transparent process and we’ll share regular updates.

“We look forward to having this conversation and appreciate our community for bringing this to our attention,” Mozilla wrote.

The software company is just the latest company to take heat for its involvement with cryptocurrency and blockchain technologies.

Electric car manufacturer, Tesla was also lambasted for its decision to accept bitcoin as payment in 2021. It however reversed the policy soon after.

Gaming companies have also not escaped being heavily criticized for their non-fungible token (NFT) efforts.

The developer of the upcoming game STALKER 2: Heart of Chernobyl, for instance, went so far as to entirely cancel its NFT plans in response to the outcry.

Nevertheless, Mozilla has not completely distanced itself from cryptocurrency, as it said that “decentralized web technology (such as cryptocurrency) continues to be an important area for us to explore.”

Continue Reading
Comments

Cryptocurrency

Cryptocurrency Crash: It’s Not All Doom and Gloom

Research into cryptocurrency capital inflows has shown that about $140 billion is sitting in four of the leading stablecoins.

Published

on

Dollar Cryptocurrency - Investors King

Despite the cryptocurrency crash and rising global uncertainty, research into cryptocurrency capital inflows has shown that about $140 billion is sitting in four of the leading stablecoins as institutional investors that have been backing the cryptocurrency space in recent months assess happenings.

Capital inflow into dollar-pegged Tether’s USDT, Circle’s USDC, Binance’s BUSD, and MarkerDAO’s DAI has risen from $7 billion in the last 2 years to $147 billion in 2022, suggesting that cryptocurrency investors are not withdrawing their funds or converting to U.S. Dollar but sitting on the sideline for possible re-entry.

“The amount of money sitting on the digital sideline has never been greater and points to an abundance of patient investors ready to pounce on discounted digital assets,” Stated Digital Asset Investment Management (DAIM) analysts. “That means the ecosystem has an additional $140 billion ready to be deployed into bitcoin and altcoins.”

According to Louis Schoeman, managing director at broker comparison site Forex Suggest, we are currently experiencing the biggest crypto crash in history, with the crypto Fear and Greed index having slipped into “extreme fear” category.

However, it’s not all doom and gloom. Coins such as Bitcoin, Ethereum and Solana gained in their prices in the last 24 hours. Equity markets, too, recorded some gains including Nasdaq, the S&P 500 and Dow Jones Industrial Average.

“It’s worth noting that various coins including Bitcoin were heavily inflated in a bubble over the last 2 years, so a crash of this enormity was bound to happen. With investors dumping assets in response to high inflation and the semi-collapse of the Celsius network driving the downward spiral, I think only the best fundamentally strong crypto projects will survive this bear market, as is proving to be.

This is a cleansing process of note as we believe between 80% – 90% of the crypto projects will not survive this period especially if Bitcoin falls below $20,000 again.

But, it also serves as a massive opportunity for many no-coiners to enter the crypto market for the 1st time ever.

Fortune favours the brave in crypto right now.”

Continue Reading

Cryptocurrency

Binance, the World’s Largest Cryptocurrency Exchange, is 5 Years Old Today

Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, is celebrating its 5th anniversary by eliminating trading fees on a wide range of bitcoin spot trading pairs.

Published

on

Binance - Investors King

Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, is celebrating its 5th anniversary by eliminating trading fees on a wide range of bitcoin spot trading pairs. While Binance has long maintained one of the lowest spot trading fees in the industry, it is establishing itself as the global leader in pricing with this latest move.

From July 8, users will be able to enjoy fee-free trading on thirteen stablecoin and fiat combinations including BTC/USDT, BTC/BUSD, BTC/USDC, BTC/EUR, BTC/TRY, and more. The new trading fees will be in effect until further notice, allowing Binance users globally to enjoy the fee-free feeling beyond the two weeks of anniversary celebrations.

Binance Founder and CEO “CZ” (Changpeng Zhao) said: “In line with our user-first philosophy, Binance has always strived to provide the most competitive fees in the industry. At its core, Binance is an inclusive platform with accessibility in mind. Eliminating the trading fees on selected BTC spot trading pairs is another move towards that direction.”

“Within the span of five years, Binance has amassed an amazing community that believes in us and supports our vision. Our growth and achievements would not have been possible without them. We hope to give back to the community by providing them with the world’s best products and services,” added CZ.

Binance launched in July 2017 as a crypto-to-crypto exchange and within six months, became the world’s largest crypto exchange. Today, Binance is a global blockchain ecosystem spanning across trading services, infrastructure solutions, educational resources, research, social good and charitable programs, investment and incubation initiatives, and more. By providing access to broad financial tools while maintaining one of the lowest fees in the business, Binance is making crypto accessible to everyone in Africa and beyond.

Continue Reading

Bitcoin

Bitcoin, Other Cryptocurrencies Rebound on Thursday

Bitcoin, the world’s most dominant cryptocurrency, appreciated by 4.53% in the last 24 hours to take its gains to 12.64% in the last 7 days.

Published

on

bitcoin 2- Investorsking

The cryptocurrency space came alive in the last 24 hours to extend its gains for the week despite growing global uncertainties amid recession fears.

Bitcoin, the world’s most dominant cryptocurrency, appreciated by 4.53% in the last 24 hours to take its gains to 12.64% in the last 7 days.

In the last 7 days, Eth, the token of the Ethereum protocol, has gained 21.36% from about $1000 a coin it traded a week ago to $1,235.67 on Thursday.

Similarly, BNB extended its gains to $242.45, an increase of 1.40% in 24 hours and 14.33% in the last 7 days to underscore a possible shift in the financial markets towards cryptocurrency, especially with global assets, both traditional haven assets like gold and even risk assets like stocks, commodities, etc, trading at a record-low.

Bitcoin and other cryptocurrencies crashed after Luna stablecoin plunged from over $40 billion market value or $90 a coin to about $800,000 in market value or $0.00004 a coin. The huge decline and the speed in which it happens, three days, sent a shocking wave to the investment world and alerted people to the danger of investing in an unproven and regulated space like cryptocurrency.

However, seasoned traders have said it is not unique and newbies would have to learn that in cryptocurrency investing, there are bearish and bullish seasons. This, they attributed to the Bitcoin Halving, a process in which Bitcoin reward for miners is halved after every 210,000 blocks or four years.

Still, experts like Changpeng Zhao, the Chief Executive Officer of Binance and the richest cryptocurrency investor alive, had called on people to only invest in cryptocurrency projects with real-world use cases.

Popularly known as CZ and estimated by Bloomberg to have a net worth of $96 billion, had repeatedly said the cryptocurrency space is here to stay and encourages inventors and innovators to focus on solving real-life problems.

Continue Reading
Advertisement




Advertisement
Advertisement
Advertisement

Trending