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Grayscale pulls ads from Fox News after US shooting controversy

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Grayscale Investments, a major crypto investment firm with $5.8 billion in assets, has pulled advertising from Tucker Carlson’s prime-time show following the host’s controversial comments about a recent shooting at a Black Lives Matter protest.

The national campaign to promote digital currencies called “The History of Money” was launched three weeks ago and has been running on CNBC, MSNBC, FOX, and FOX Business.

On August 27, Fox News host Tucker Carlson appeared to justify a shooting carried out by a 17-year-old with an automatic rifle that resulted in the death of two protesters and wounded another.

“Are we really surprised that looting and arson accelerated to murder?” Carlson said, “How shocked are we that 17-year-olds with rifles decided they had to maintain order when no one else would?”

Public outcry began to quickly stir on social media. Popular YouTuber and political host Brian Tyler Cohen called out the eight sponsors of the show including Grayscale, stating that they “all just paid for Tucker Calrson to defend a murderer on air”. Fred Guttenberg, who lost his daughter Jamie in a school shooting in 2018, tweeted:

“Tucker, you are a […] lunatic who will get people killed.  I hope advertisers drop you immediately today. You should be removed for the safety of our kids.”

Following the backlash, Grayscale put out a statement that the show is “absolutely not aligned with our values or what we stand for.”

The withdrawal of the ad in the face of public pressure was commended by some online, while others said the firm should stick to cryptocurrencies and leave politics out of it. Crypto investor Matt Messex stated that he will now close his accounts due to the political stance Grayscale has taken:

“I didn’t know Grayscale aligns with the leftists… now I am uninterested in holding my position with the trust any longer..”

Controversy isn’t new for Tucker Carlson, with the host having lost 70 advertisers since December 2018 including T-mobile, Disney, and Papa John’s Pizza. Ad revenue for the show fell to $48.3 million in April this year from almost $92.7 million in 2017. Fox News has called past boycott campaigns “agenda-driven intimidation efforts.”

Grayscale is the largest digital asset management firm in the world with $4.8 billion in Bitcoin (BTC) and $817 million in Ether (ETH) among other cryptocurrencies.





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Blockchain identity market to grow $3.58B by 2025, report claims

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A new report on the potential for blockchain identity management solutions to become integrated across sectors has forecast strong growth for its global market, at a compound annual rate of close to 71%.

The report grounds its predictions on a study broken down into segments: by sector – e.g., government, healthcare, banking, financial services and insurance (BFSI) – geography, and applications. It was published by the Lyon-headquartered market research solution provider ReportLinker. 

Drawing on an analysis of several existing blockchain identity management market vendors – Accenture, Amazon, Bitfury Group, Civic Technologies, and others – the report expects the total global market to grow by $3.58 billion between 2021 and 2025.

Related: The future of DeFi is spread across multiple blockchains

The study’s baseline assumption is that the market for blockchain identity management will continue to expand as the proliferation of online and cloud services and digitalization more broadly continue apace. As Cointelegraph has previously reported, the demand for more efficient, decentralized and privacy-respecting identity solutions has arisen in a vast array of diverse sectors, from public services to logistical and supply chain networks, and all the way down to consumer wearables and other smart devices.

With increasing digitalization, a form of secure identity verification to access basic services – both public and private – online is quickly becoming an inescapable requirement; some have gone so far as to argue that privacy-preserving digital identity needs to be recognized as a basic right for all.

In tandem, with the global user base of social media networks now exceeding the 3.8 billion mark, some advocates have argued that blockchain offers the only adequate, equitable identity solution that can protect these users from threats such as data theft and privacy abuses. 

Earlier this month, Ethereum co-founder and lead developer Vitalik Buterin pitched his vision of the future of the Ethereum network across a range of non-financial applications, singling out areas that included both decentralized social media and identity verification and attestation.