Governments are looking into regulating the currently decentralized cryptocurrency space, and that’s a good thing for the market.
So said Fortune senior writer Jen Wieczner.
“I think it’s going to be very good for prices, because you’re going to allow for investment in big companies that have already embraced regulations,” she said in an interview with Cheddar Friday. “I think you have a lot of investors now, especially institutional investors, who are waiting on the sidelines, because they don’t want to be involved in a scam or their compliance department don’t allow them to.”
Mexico was the latest to crack down on money laundering and illegal activities in cryptocurrency. Reuters reported the proposed legislation, which is waiting for approval from President Enrique Peña Nieto, will regulate fintech and promote financial stability in cryptocurrency.
Similarly, the SEC launched a probe into the operations of American tech companies handling crypto this week. The Wall Street Journal reported that the watchdog is looking into the process of Initial Coin Offerings, trying to weigh whether firms have been violating securities laws.
Wieczner said that some companies will not stand up to the scrutiny.
“For some of them, regulation is likely going to completely knock them out,” she said.
Many restaurants across the country have lately turned off delivery and online orders during peak hours, as eateries are still struggling with labor shortages and as many are also seeing more customers return for in-person dining. Wall Street Journal reporter Heather Haddon joins Cheddar News' Closing Bell to discuss.
Hologram communication platform maker PORTL is looking to take communication to the next level. Founder and CEO David Nussbaum joined Cheddar to talk about the company's recent $12 million Series A funding round that will be used to bring the concept of holoportation to market. Nussbaum noted his hologram technology is just not comparable to augmented reality or virtual metaverses because the image projection is happening in real-time and in actual reality. "Well, unlike VR or AR, we're 'R.' We're real. You don't need a headset. You don't need wearables. You don't need to download anything. It's incredible," he said.
Wikipedia founder Jimmy Wales stopped by Cheddar's "Between Bells" to talk about his Birth of Wikipedia auction at Christie's putting two items linked to the origins of Wikipedia up for sale. On the auction block are his original strawberry iMac that was used to create the long-running online encyclopedia and what Wales described as an interactive NFT of his first Wikipedia edit rather than a static image. "Once it's been sold, the owner can turn it on, and anyone can edit the page and it will be reflected in the NFT," he said.
Local Bounti rang the opening bell December 3 in honor of its recent trading debut on the NYSE after closing a $1.1 billion SPAC deal. The company operates an indoor growing facility in Montana and aims to transform the production and delivery of local, fresh and sustainably-grown leafy greens. Craig Hurlbert, co-founder and co-CEO of Local Bounti, joined Cheddar to discuss the company's goals as a newly publicly-traded company.
Karen Worstell, Senior Cybersecurity Strategist at VMware, joins ChedHER to discuss the biggest trends and threats in cybersecurity going into 2022, and advice for women in the cybersecurity and tech industries.
It's Friday at long last. Jill and Carlo cover the latest on Omicron, including a possible superspreader event in NYC. Plus, previewing the November jobs report, a new Zoom feature no one asked for, and when it's no longer a good idea to eat Thanksgiving leftovers.
