Skip to main content

Posts

Showing posts from December 30, 2020

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Post a Comment
Read more

Ripple Assails the SEC, Claims the $1.3 billion Lawsuit is an ‘Attack on the Entire Crypto Industry Here in the United States’

Ripple has hit back at the U.S. Securities and Exchange Commission (SEC), accusing it of creating more uncertainty and failing in its duty to protect the crypto community. In panning the SEC’s decision to designate its XRP token as a security, the company claims the regulator’s lawsuit against it amounts to an attack on the entire crypto market in the US. XRP Token Holders Affected The latest comments by the Ripple team follow reports of the delisting of the XRP token by Coinbase. In a short statement released on December 29, the firm, which is promising another “response in a few weeks to address these unproven allegations against Ripple”, starts by claiming that the public and the media are currently only aware of the SEC’s narrative. The Ripple team then assails the SEC’s $1.3 billion lawsuit against the company arguing that it has affected “innocent XRP retail holders.” Since the announcement of the lawsuit, the XRP token has now lost more than 50% of its value and the ...
Post a Comment
Read more

Elon Musk Endorses Cryptocurrency for Martian Economy

Spacex and Tesla CEO Elon Musk, widely believed to be the man taking humanity to Mars and building a permanent settlement there, tweeted his approval of the idea that Mars’ economy will run on cryptocurrency. Elon Musk Envisions Mars’ Economy Run on Cryptocurrency Elon Musk believes that Mars’ economy will be run on cryptocurrency. He said early this month that he is “highly confident” that his company Spacex will land humans on Mars “about six years from now.” He further noted that it could even come as early as 2024 “if we get lucky.” Musk previously said that his aim is to set up a “self-sustaining city on Mars as soon as possible.” The subject of cryptocurrency running Mars’ economy briefly came up on Twitter last week. AI researcher Lex Fridman tweeted, “Mars economy will run on crypto.” In response, Twitter handle Elon’s World suggested, “Marscoin.” Musk himself replied with just a “Yes.” It is not clear if Musk was referring to the cryptocurrency called “marscoin” that wa...
Post a Comment
Read more

US Treasury Warns of Increasing Ransomware Campaigns Against Coronavirus Vaccine Research Institutions

The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued a warning that alerts financial institutions in the United States about increasing ransomware attacks against coronavirus vaccine research organizations. US Treasury Warns of Ransomware Attacks, Phishing Schemes Targeting Covid-19 Vaccine Research Institutions According to the alert , FinCEN says that fraud, ransomware attacks, and “similar types of criminal activity” target the distribution of Covid-19 vaccines, which could affect their supply chains if proper actions are not taken on time. The alert reads as follow in regards to ransomware campaigns: Cybercriminals, including ransomware operators, will continue to exploit the Covid-19 pandemic alongside legitimate efforts to develop, distribute, and administer vaccines. FinCEN is aware of ransomware directly targeting vaccine research, and FinCEN asks financial institutions to stay alert to ransomware targeting vaccine delivery operations as wel...
Post a Comment
Read more

XRP the 'third largest collapse of all time' says The TIE’s Josh Frank

The token has lost more value than former commodities trading giant Enron. The XRP token’s market capitalization has fallen almost $130 billion since its all-time high in 2018, making the cryptocurrency project’s decline comparable to the collapse of major financial institutions. According to Josh Frank of crypto-focused research company The TIE, the project is experiencing a collapse similar to some of the biggest corporate scandals and catastrophes in recent history. XRP's market cap has fallen by 93% from $137B to under $10B. That makes the value of the XRP collapse bigger than Enron and Worldcom. While not a bankruptcy, XRP is effectively the third largest collapse of all time behind Lehman Brothers and Washington Mutual. — Joshua Frank (@Joshua_Frank_) December 30, 2020 At its peak, XRP’s market capitalization was roughly $140 billion in January 2018. It has recently slipped under $10 billion, an estimated loss of $130 billion in under three years. This effectively ...
Post a Comment
Read more

4 reasons why Ethereum options traders expect ETH price to reach $880

Ethereum options data show traders anticipate a continued surge to $880 over the next four weeks. Ether ( ETH ) price has gained 88% since November, astonishing even the most bullish investors as the top altcoin secured a 2020 high at $750. Aside from the upcoming CME ETH futures launch scheduled for Feb. 8, the phenomenal growth of the total value locked (TVL) in Decentralized Finance protocols also played a major part. Total Value Locked, USD. Source: DeFi Pulse As the above data indicates, investors are even more confident that Eth2 has been a success, despite the real potential of delays and implementation hurdles. Another possible bullish factor in the background is the recent 2 year low in ETH miner balances. This certainly eases potential sell pressure and opens room for further bullish continuation. Over the past three months, the open interest on Ether options grew by 150% to a total of $880 million. This incredible build-up occurred as the cryptocurrency broke the...
Post a Comment
Read more

Bitcoin Price Touches $28,600, Crypto Asset’s Value Gains Over 288% in 2020

The price of bitcoin touched an all-time high at 3:12 a.m. (EST) during the early morning trading sessions reaching $28,600. The crypto asset’s market valuation is over $519 billion on Wednesday, as bitcoin markets command over 14 billion dollars in global trade volume. Bitcoin (BTC) markets soared again on Wednesday morning, as the price per unit jumped to an all-time high (ATH) of around $28,600. BTC ’s dominance index, in comparison to the 7,500+ crypto asset valuations in existence, is over 70% or $519 billion out of crypto economy’s $741 billion. Statistics show that BTC has gained over 20% during the last seven days, 41% over the course of the month, 162% in the last three months, and a whopping 288% for the year against the U.S. dollar. At a touch after 3 a.m. on Wednesday morning (EST), BTC /USD prices touched a high of $28,600 per unit on Bitstamp. Bitcoin has seen $19.28 billion in transaction volume during the last 24 hours. Moreover, BTC miners have captured $2.8...
Post a Comment
Read more

'Bitcoin liquidity crisis' — BTC is becoming harder to buy on exchanges, data shows

Bitcoin liquidity is declining, data from Glassnode shows, which could propel BTC price even higher. Bitcoin is becoming more difficult to buy, according to analysts at Glassnode. The amount of BTC received and spend among entities is decreasing, which means the liquidity is declining. If Bitcoin ( BTC ) liquidity is low, it means there is less BTC available to buy and sell. In the medium term, this could make BTC even more scarce. Bitcoin liquid and illiquid supply. Source: Glassnode Bitcoin on track for an explosive 2021 Throughout 2020, institutions have been increasingly accumulating Bitcoin, which has become compelling because of its fixed supply. In recent months, the concerns about inflation and rising central bank liquidity have intensified. This trend has led high-profile institutional investors, like Paul Tudor Jones, to consider Bitcoin as a potential hedge against inflation. Meanwhile, a trend that was kickstarted by MicroStrategy’s $425 million Bitcoin purc...
Post a Comment
Read more

2020 in review: Cointelegraph art team limited edition NFT drop

Crypto 20/20 hindsight: A visual review of 2020 limited to 2,020 copies... for just 0.02020 ETH When you ask someone what superpower they’d most like to have, they usually come up with the ability to fly, or to read thoughts, or maybe to see through multiple layers of clothing. This year, all we wanted was the ability to hibernate. Imagine! Going to sleep sometime around the Australian wildfires… taking a peek outside in mid-March and thinking “Ooooh, no, not sure about this at all” and cuddling up in a warm, happy bed until the U.S. election was over. But think what you would have missed in crypto! 2020 was another decade-in-a-year for the industry, packed full of characters who charmed, hackers who harmed, and degens who farmed. To celebrate a year that ended on a high note for hodlers, the Cointelegraph team of artists has created a poster-sized limited edition NFT commemorating some of the biggest stories of 2020. It’s titled “ In crypto, hindsight is 20/20 "  and is ava...
Post a Comment
Read more

Attackers Drain Millions From Cover Protocol, Token Holders Attack Compensation Plan

Decentralized finance insurance project Cover protocol briefly suffered losses when an unknown attacker minted over 40 quintillion Cover tokens. However, after successfully cashing out tokens worth about $5 million, the attacker unexpectedly returned ether tokens valued at about $3.2 million before leaving a message for the Cover team. Exploit No Longer Possible Immediately after the attack, the value of the insurance protocol’s token plummeted by over 94% to $34 at the time of writing. After the incident, t he Cover team immediately acknowledged the attack and went on to warn investors against buying the token while investigations were underway. The team also urged the attackers to return the rest of the stolen funds. However, in their statement on December 28, the team tries to reassure investors that the vulnerabilities exploited by attackers had been fixed. The team says: The exploit is no longer possible. Please do not buy Cover tokens, and remove your liquidity from the Co...
Post a Comment
Read more

SEC lawsuit against Ripple set for virtual pretrial conference in February

The SEC's case against Ripple for selling XRP as unlicensed securities will begin with a pretrial in February 2021. The U.S. District Court of the Southern District of New York has fixed Feb. 22, 2021 as the date for the pretrial of the lawsuit filed by the Securities and Exchange Commission against Ripple Labs and its principal actors. According to a court document filed on Tuesday, counsel representing all parties on the matter will hold a telephone pretrial conference. As part of preparations for the preliminary hearing, the parties in the case will submit a joint letter a week before the pretrial date addressing: “(1) a brief description of the case, including the factual and legal basis for the claim(s) and defense(s), (2) any contemplated motions and (3) the prospect for settlement.” Earlier in December, the SEC filed a lawsuit against Ripple, accusing the blockchain firm of selling XRP tokens in violation of securities law . The legal status of XRP as a commodity or a...
Post a Comment
Read more

Publicly-Listed Bitcoin Mining Operations See Shares Skyrocket, Riot Blockchain Market Cap Reaches $1B

While bitcoin’s value has captured new all-time price highs, a number of publicly listed bitcoin mining operations have seen significant profits. The U.S.-based firm Riot Blockchain’s market valuation recently obtained a $1 billion capitalization. Meanwhile, a number of other bitcoin mining business operations have seen colossal demand for company shares. Riot Blockchain, Inc. (Nasdaq: RIOT) shares have increased a great deal and the company has recently captured a $1 billion market capitalization. After trading for $3.47 per unit during the first week of November 2020, shares climbed 332% and are now trading above the $15 range on December 29. 2020 stats show Riot’s shares have jumped more than 1,200% during the course of the year. Riot has also been part of the trend of enterprise companies purchasing mass quantities of bitcoin miners in 2020. The company bought 15,000 S19 Pro and S19j Pro Antminer mining rigs from Bitmain on December 23. In fact, Riot is not the only publicl...
Post a Comment
Read more

Indian crypto bank opens physical location, eyes 100 branches by 2022

India is now home to the world’s first physical crypto bank branch despite regulatory uncertainty surrounding virtual currencies in the country. Unicas, a joint venture between Indian online crypto banking platform Cashaa and United Multistate Credit Co-op Society has launched a physical crypto bank branch in Jaipur, India. Back in October, Multistate announced plans to offer both online and physical crypto banking services across its 34 locations in northern India. Users will be able to access both fiat and crypto-asset services at the bank. Unicas will also provide instant digital loans with cryptocurrencies as collateral. According to a Cashaa blog post on Dec. 28, the physical crypto bank branch in Jaipur is part of an initial roll-out in 14 locations across three states before the end of Jan. 2021. The Unicas JV is also working towards establishing a total of 100 branches by 2022. For Unicas CEO Dinesh Kukreja, the establishment of physical crypto bank branches will allow ...
Post a Comment
Read more

Japan’s crypto market matured in 2020, but 2021 may see huge growth

2021 may be the year of natural selection for the Japanese crypto industry. In 2020, the Japanese crypto industry seems to have entered its maturation phase. With new crypto laws established in May, large exchanges have solidified their leading positions, while crypto startups and unregulated businesses have exited the market. However, it seems that a winner has not yet been declared. There are already more than 25 registered exchanges in the small nation with a population of over 100 million, but global crypto giants are just starting to enter the market. Some believe a significant industry reorganization is coming through buyouts of licensed exchanges. And with the current bull market expected to continue, we may see a further expansion of crypto companies in Japan in 2021. One question that must be asked, though, is: Does the industry actually have to show maturity now? With just 12 years having passed since Bitcoin was created, the entire crypto and blockchain industry is still ...
Post a Comment
Read more

Nomura and Ripple Partner SBI Holdings Support XRP, Reject Token’s Categorization as Security

As XRP continues to plummet in value due to Ripple’s turmoil with the U.S. Securities and Exchange Commission (SEC), the token seems to find some support in Japan, as crypto exchanges in the nation have refused to delist it. Nomura and Key Ripple Partner Keep Supporting XRP , Reject US SEC Claims Per a report published by Sadakazu Osaki, an analyst from the economic research firm Nomura Research Institute, Ripple’s token is considered in the land of the rising sun as a crypto asset, according to the Funds Settlement Act, as securities are registered with the Financial Services Agency (FSA) for “offering or sale.” That’s why XRP cannot be categorized under “securities” and in consequence, SEC’s lawsuit against the blockchain firm won’t have an impact on the status of the token in Japan whatsoever, said the researcher. Osaki also highlighted the popularity that XRP has in Japan, as the token “is widely traded in cryptocurrency exchanges in Japan”: It can be said that the inter...
Post a Comment
Read more

Bittrex joins Coinbase in delisting Ripple’s XRP following SEC lawsuit

Major exchanges scramble to disassociate themselves with XRP as Ripple tries to regain control of the narrative. Cryptocurrency exchange Bittrex announced on Dec. 29 that it will be removing all XRP markets starting from Jan. 15, 2021. Trading pairs affected are BTC /XRP, ETH /XRP, USDT /XRP and USD/XRP. The announcement comes just days after fellow exchange Coinbase said that it would suspend trading in XRP from Jan. 19. XRP’s fortunes have taken a significant downturn since the United States Securities and Exchange Commission unveiled a lawsuit against XRP issuer Ripple last week. The lawsuit alleges that Ripple, along with CEO Brad Garlinghouse and co-founder Chris Larsen, have raised more than $1.3 billion through what it claims is an unregistered, ongoing securities sale of XRP. Ripple hit back yesterday , claiming that the SEC’s “attack” on Ripple is an attempt to bring down the entire U.S. crypto industry. While denying that XRP is indeed a security as the SEC claims,...
Post a Comment
Read more