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Breaker Magazine to Cease Operation Due to Lack of Feasible Business Plan: Report

Founded in 2018 by Ben Schiller, Breakermag will reportedly cease operation due to the lack of a feasible business plan.

Breaker Magazine (Breakermag), an American online crypto publication, is reportedly shutting down, industry news outlet The Block reported on April 29.

Launched in July 2018, the publication will reportedly cease operations due to the lack of a feasible business plan, the report notes, citing anonymous sources familiar with the matter.

Created by journalist and business tech author Ben Schiller, Breakermag is an editorially independent site owned by blockchain firm SingularDTV, which rebranded to Breaker earlier this year.

Breaker Magazine is known for its specific form of long-read stories on major industry issues around blockchain, cryptocurrencies and their applications, with the editorial positioning itself as “upending whole industries, sparking radically democratic ideas, and creating a new elite.”

According to the report, one of the reasons for the alleged closure of Breakermag is high spending from the point of view of its parent company Breaker, sources said.

In October 2018, Breakermag published an investigation revealing that major crypto outlets such as NewsBTC and Bitcoinist are taking money from companies in exchange for covering stories on them.

In March, blockchain-based journalism Civil officially announced its launch. The platform is designed to support independent journalism and aims to develop an alternative model to journalism online.

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Eminem's Latest Album 'Kamikaze' Features a Bitcoin Shout-Out

Rapper and actor Eminem has given bitcoin’s public awareness another boost, giving it a mention in a song on his latest album, “Kamikaze.”

In track dubbed “Not Alike,” fellow artist Royce Da 5’9′  – who guest features on the piece – raps:

“Remember everybody used to bite Nickel, now everybody doing bitcoin.”

The album was released on midnight Thursday in a surprise announcement by Eminem, according to reports. His previous release was “Revival” in December 2017.

While the crypto citation is unlikely to bump the price of bitcoin, it comes as the latest mainstream entertainment industry reference to the top cryptocurrency by market valuation.

In one of the most memorable mentions, chat-show host Ellen DeGeneres took a humorous look at cryptocurrency in her regular show back in February. “Everybody is talking about bitcoin,” she said, but, “nobody understands it.”

She went on to say about investors in bitcoin, “You’ll either be a millionaire or you’ll be totally broke.”

A month later, John Oliver poked fun at the bitcoin community and reminded viewers to take care when investing in his “Last Week Tonight” show. Grabbing the headlines at the time, he compared bitcoin’s volatile price to a $15,000 Beanie Baby and said cryptocurrency was gambling, not investing.

The rap industry has helped raise the profile of cryptocurrency in ways other than recordings too.

Rapper 50 Cent’s move to accept bitcoin for his 2014 “Animal Ambition” album was reported in January to have made him a crypto millionaire, though he denied owning bitcoin in a bankruptcy court case a month later.

And in March, Young Dirty, the son of late Wu Tan Clan rapper Ol’ Dirty Bastard, was involved in the launch of a new cryptocurrency called Dirty Coin. The token was intended to help raise funding for an upcoming Young Dirty album, as well as a means for fans to access shows and buy merchandise.

Most recently, in May, Snoop Dogg performed at an event in New York set up to celebrate XRP, a cryptocurrency associated with blockchain payments startup Ripple.

Hat tip to Forbes

Eminem image via E.J. Hersom/Wikipedia

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