Own a Piece of Automotive History with Porsche’s First-Ever NFT Collection

• Porsche released its first non-fungible token (NFT) collection paying homage to the brand’s iconic 911 sports car.
• The collection opened for allowlist holders at 9 a.m. ET on Monday in four waves of one hour each.
• The floor price of the collection on the secondary market fell below its minting price of 0.911 ETH in the hours after it opened sales to the public.

Porsche, the iconic German carmaker, has released its first ever non-fungible token (NFT) collection, paying homage to one of the brand’s most iconic and beloved models – the 911 sports car. On Monday morning, the collection opened for allowlist holders at 9 a.m. ET in four waves of one hour each.

The collection is limited to 7,500 editions, and each edition can be customized with three “paths” to choose from. Collectors were allowed to mint up to three virtual 911 Porsches at 0.911 ETH each, roughly $1,490. Allowing for a wide range of customization options, the Porsche NFT collection is unique in its ability to give collectors a truly personalized experience.

However, it appears that the collection hasn’t been able to gain traction as quickly as some had hoped. The floor price of the collection on the secondary market fell below its minting price of 0.911 ETH in the hours after it opened sales to the public.

The collection’s creators have attributed the lackluster response to the lack of time the collection was open to allowlist holders and the fact that it was released at the same time as another prominent NFT collection, which has since sold out.

It remains to be seen if the collection will be able to gain traction in the months to come. For Porsche, the collection represents an opportunity to increase brand recognition and engagement with its customers in a new and innovative way. With the right marketing, it could become a valuable asset for the carmaker.

Meanwhile, for collectors, the collection offers an exciting opportunity to get their hands on a unique and personalized piece of automotive history. With its limited edition status, the collection is already proving to be a desirable item, and the potential for it to appreciate in value remains high.

Only time will tell whether the Porsche NFT collection will be able to gain the traction it needs to become a success. For now, the collection remains an interesting experiment in the world of NFTs, and an opportunity for collectors to own a unique piece of automotive history.

Bitcoin Surges on Inflation Slowdown, Bankman-Fried Denies Stashing Billions, Blockchain.com Restructuring

• Bitcoin had its best day in two months after the Consumer Price Index (CPI) report shows inflation slowdown.
• Sam Bankman-Fried, the disgraced former chief of FTX, denied stashing away billions of dollars and gave his take on what happened to his bankrupt crypto exchange in a lengthy new post on Substack.
• Blockchain.com has cut jobs as part of a restructuring.

Bitcoin had its best day in two months on Thursday, surging to over $19,000 following the release of the Consumer Price Index (CPI) report which showed inflation had slowed. The digital-asset rally extended into the weekend, and the cryptocurrency has now cemented itself as one of the world’s most popular investments.

The news came as Sam Bankman-Fried, the disgraced former chief of FTX, released a lengthy new post on Substack in which he denied stealing funds and stashing away billions. Bankman-Fried is currently facing numerous federal charges including conspiracy to commit fraud and is now free on bail.

In his post, Bankman-Fried alleged that the trading firm “failed to sufficiently hedge its market exposure” and said he “hasn’t run Alameda for the last few years.” He concluded the post by stating that Alameda lost money due to a market crash it was not adequately hedged for.

In addition to the Bitcoin rally and Bankman-Fried’s post, Blockchain.com has also announced that it is cutting jobs as part of a restructuring. The move is aimed at streamlining operations and improving efficiency, and the company has said it hopes to be able to rehire many of the affected staff once the restructuring is complete.

Overall, it has been a busy week in the world of cryptocurrency, with Bitcoin continuing to surge, Bankman-Fried giving his account of what happened to his bankrupt crypto exchange, and Blockchain.com announcing job cuts. It remains to be seen how these developments will affect the market in the coming weeks and months.

Securrency Hires State Street’s Digital Chief Nadine Chakar as New CEO

• Securrency, a cryptocurrency infrastructure firm, has hired Nadine Chakar, State Street’s digital chief, as its new CEO.
• Chakar replaces Securrency’s founder Dan Doney, who will remain as the company’s CTO.
• Securrency’s aim is to provide institutions with blockchain-based regulatory technology on top of existing legacy systems to enable digital asset adoption in a compliant manner.

Securrency, a cryptocurrency infrastructure firm, has announced the appointment of Nadine Chakar as its new CEO. Chakar, who was the digital chief at State Street, replaces Securrency’s founder Dan Doney, who will remain as the company’s CTO.

Chakar brings with her a wealth of knowledge in institutional-grade compliance and digital asset adoption. She was the head of global markets at State Street for over two years, and was part of a $30 million funding round for Securrency in 2021, which included U.S. Bank, Abu Dhabi, Catalyst Partners, and WisdomTree Investments.

Securrency’s mission is to provide institutions with blockchain-based regulatory technology on top of existing legacy systems to enable digital asset adoption in a compliant manner. This technology will allow companies to tokenize assets and implement decentralized finance (DeFi) protocols, in addition to providing interoperability between different blockchain and traditional finance systems.

Securrency’s CEO, Nadine Chakar, commented on her new role, saying: „I am excited to join the Securrency team and lead the company into its next stage of growth. I look forward to leveraging my experience in the institutional asset management space to build the infrastructure necessary to enable the mainstream adoption of digital assets.”

Dan Doney, Securrency’s founder and CTO, also commented on Chakar’s appointment, stating: “Nadine brings an extensive knowledge of institutional asset management, financial compliance and digital asset adoption. We are thrilled to have her on board and look forward to continuing to build the infrastructure and technology that will enable the mainstream adoption of digital assets.”

Securrency’s new CEO appointment is a sign of the company’s commitment to building the necessary infrastructure for the mainstream adoption of digital assets. With Chakar’s experience and knowledge, the company looks to continue to make strides in the industry, providing institutions with the security and compliance they need to adopt digital assets.