Coinbase’s (COIN) Super Bowl was met with mixed results, a U.K. authority seized NFTs for what could be the first seizure of the digital asset in a fraud case and Intel (INTC) – Get Intel Corporation Report looked to target bitcoin mining. Watch Ross Mac of Maconomics break down the latest cryptocurrency news on TheStreet’s ‘Crypto Minute’ on Monday, February 14.
Transcript:
We had a Super Bowl crypto ad not only breaking records, but also breaking its own site while one large semiconductor company is getting into crypto mining.
It’s your boy Ross Mac and these are the biggest stories in cryptocurrency on Monday, February 15.
Crypto and metaverse ads dominated this year’s Super Bowl ads, but Coinbase had perhaps the simplest and what seemed to be one of the more brilliant ads of the night, which was a QR code that bounced off of the edges of your screen. However, as millions of Americans went to scan the QR code of the multi-million dollar commercial, the app crashed. They had over 20 million hits on its landing page in a minute…the irony is that they spent a ton to make a simple ad work, but they weren’t prepared in the end.
Intel is entering the blockchain mining market. The company announced that it will be releasing hardware that can mine bitcoin that won’t put a strain on energy supplies, or prevent customers from accessing chips, says Intel. Oh, and the company is avoiding calling it, well, mining. Instead, Intel is pushing the term blockchain accelerators. This might just help other chip companies who have had pressure on their inventories in the past due to miners.
U.K. tax authorities seized three NFTs in a case of suspected tax evasion, claiming to be the first authority to seize NFTs. HM Revenue and Customs had obtained a court order to seize crypto assets around 5,000 pounds and, of course, the NFTs. However, the NFTs have not been valued yet. The authorities said “this serves as a warning to anyone who thinks they can use crypto assets to hide money from HMRC”.
It’s your boy Ross Mac and that was the Crypto Minute on TheStreet.
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