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Showing posts from January 6, 2021

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...
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Bitcoin Trader Robbed During an In-Person Transaction, Kicked Out of Car in Hong Kong

An unnamed 37-year-old man was a victim of a theft from a gang of robbers who fled with 15 bitcoin ( BTC ), worth HKD 3 million ($387,000) in cash. They agreed to meet in person for a crypto exchange transaction. Six Non-Chinese Suspects Allegedly Involved in the Theft Per the South China Morning Post , the bitcoin trader intended to meet in person in Hong Kong with the alleged buyers after an online conversation. Initially, the unnamed victim was paid the HKD 3 million in cash as agreed while in the robbers’ car, as he previously transferred 15 BTC to the buyers, outside a hotel in North Point, Hong Kong. According to markets.Bitcoin.com data, 15 BTC is worth $519,969 as of press time. However, following the transaction, the robbers kicked the victim out of the car on a hillside while counting the money, sparking a nationwide search. According to the police, such an incident happened after the robbers traveled for more than 6km and stopped on Tai Tam Road in Chai Wan. Afterwar...
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'Two cops on the beat': Regulator wants sole authority to charter fintech firms

The OCC’s acting head is pushing against the Consumer Financial Protection Bureau’s intention to charter non-depository fintech firms. Brian Brooks, the acting head of the U.S. Office of the Comptroller of the Currency and former chief legal officer to Coinbase, has warned against the Consumer Financial Protection Bureau receiving the right to grant “Fintech Charters.” Earlier this week, the CFPB’s Taskforce on Consumer Financial Law published a report featuring 102 policy recommendations intended to “improve and strengthen” financial regulations, including proposing that Congress empower the CFPB to federally charter nondepository institutions — financial firms that do not take customer deposits and collect fees for other financial services. Under Brian Brooks’ leadership, the OCC created the Special Purpose Payments Charter for FinTech in 2020, paving the way for certain crypto firms to apply for recognition as a national bank. Paxos and BitPay sought approval for chartering und...
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Kenya Expects to Earn $46 Million as New Tax Targeting Crypto Exchanges Comes Into Force

The Kenya Revenue Authority (KRA) is expecting to earn up to 5 billion Kenyan shillings ($45.5 million) during the first half of 2020 from a new tax that targets cryptocurrency exchanges and other online services, according to a top KRA official. First proposed in August 2020, the digital service tax (DST) came into force on Jan. 2 amid concerns over implementation. The tax is charged at the rate of 1.5% on gross transaction value with every crypto sale. Both local and foreign digital asset exchanges operating in the country will also pay the tax to the Kenyan government. Foreign exchanges like peer-to-peer platform Paxful and Binance will be required to pay the tax each month. However, Kenyan crypto businesses have the option of claiming back their DST at the end of each year since they are already subject to paying other local taxes. According to Rispah Simiyu, commissioner of the domestic taxes department at the Kenya Revenue Authority, the tax is an appropriate response to th...
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Ethereum bursts into list of top 100 assets in the world by market cap

Ethereum’s recent gains saw it join Bitcoin on an exclusive list among the world’s biggest movers and shakers. A 13% rise in the price of ETH over the past 24 hours has propelled Ethereum onto a list of the top 100 traded assets by market cap for the first time, as measured by CompaniesMarketCap.com.  Ethereum marched past 12 other entries on the list today and is currently positioned in the #88 spot, between Bristol-Myers Squibb at #89 and Anheuser-Busch at #87. Ethereum entered the top 100 assets by market Source: https://t.co/oDzWrvLl2b pic.twitter.com/63zrsalRfH — CompaniesMarketCap.com (@CompaniesMarke1) January 6, 2021 Up 62% in 2021 alone, the price of ETH crossed $1,200 today for the first time since Jan. 2018 and appears poised to overtake its all-time high set Jan. 13 of that year. This year’s gains translate into a $53 billion increase in Ethereum’s market cap, enough for it to overtake the market cap of several household conglomerates, including Wells Fargo...
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YouTube star Mr Beast, with 50M subscribers, becomes a verified Brave browser publisher

Mr Beast, joins almost 1 million other verified Brave publishers, potentially exposing some of his subscribers to Brave browser and its native BAT token. Jimmy Donaldson, aka “Mr Beast,” a prominent YouTuber boasting 50.2 million subscribers and 8.5 billion total views, now owns a verified Brave browser account — potentially exposing some of his enormous audience to virtual currency. Donaldson is not new to crypto and is believed to have made a considerable amount of money via cryptocurrency investments. The star previously hosted videos discussing crypto before his channel exploded in popularity and he reportedly purchased a $100,000 car using his crypto profits. However, his account was later purged of all content relating to virtual currency. Mr Beast also  spoke on KEEMSTAR’s podcast about how he almost lost his BTC due to a house break in, but managed to move the funds to a new wallet.  With Bitcoin and other cryptocurrencies surging in price, the famous YouTuber ...
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New Report Studies Satoshi Nakamoto’s Inconsistent British and American Writing Techniques

On December 31, 2020, a new report was published that studies Satoshi Nakamoto’s writing style, the creator’s use of expressions, and spelling. The new examination shows Satoshi’s spelling and American and British wording indicates it was very inconsistent and littered with misspellings as well. The research suggests the inconsistencies might have been done purposefully and were possibly part of the inventor’s operations security. A Closer Look at Satoshi Nakamoto’s Spelling and the Inventor’s American and British English Writing Techniques One of the most intriguing stories in the cryptocurrency space is the mysterious Satoshi Nakamoto , the man, woman, or group that created bitcoin. Over the last 12 years, people have dedicated lots of time toward searching for the Bitcoin inventor’s location, Satoshi’s writing patterns, and the many messages that Satoshi wrote before leaving the community. On the eve of 2021, a study published on the website ungeared.com called “ The Strange Stor...
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Researchers warn 3 apps have been stealing crypto undetected for a year

Three crypto based apps have concealed a nasty surprise for those that have downloaded them. Cyber security researchers have discovered a year-long malware operation that has targeted cryptocurrency users with the creation of a number of fake apps. Security firm Intezer Labs warned that ever increasing crypto prices have created heightened activity among hackers and malicious actors seeking financial gains. The malware has been disseminated over the past year, but was only discovered in December 2020. The new remote access trojan (RAT), dubbed ElectroRAT, has been used to empty the cryptocurrency wallets of thousands of Windows, macOS, and Linux users, the report added. Three cryptocurrency-related apps deployed in the attack — Jamm, eTrade/Kintum, and DaoPoker — were all hosted on their own websites. The first two are bogus crypto trading apps while the third is gambling based. The ElectroRAT malware hidden inside these apps is extremely intrusive according to the researchers; ...
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Bitcoiner loses almost $100K of BTC in wallet transfer bungle

The Redditor attempted to transfer a wallet to a new computer without confirming the password to the private keys was accessible. A Redditor has issued a warning to “overconfident” HODLers after losing the password to their crypto wallet by not acting cautiously enough. A Bitcoiner with the username Onnar posted they had lost access to 2.6 Bitcoin ( BTC ) — roughly $96,400 at the time of publication — while attempting to transfer a wallet to a new computer purchased over the holidays. The user claimed to have formatted the drive of their old system without double checking whether the password manager still contained the password needed to access the private keys. “I go to my password manager to grab it and... it’s not there,” said Onnar. “No mention of a BTC password anywhere to be found. I spend the next 30 mins rechecking and rechecking, but it's not there.” The Redditor admits the mistake is “100% my fault”  because they did not confirm the files could be decrypted before ...
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Bitcoin Price Touches the $37K Zone, Crypto Economy’s Market Cap Hits $1 Trillion

The price of bitcoin smashed through the last all-time high again jumping above the $37k zone to $37,400 per coin. The crypto asset’s market valuation is around $689 billion at the time of publication, as it has seen $26 billion in trade volume worldwide. Moreover, the entire crypto-economy surpassed the $1 trillion mark on Wednesday evening (EST) as well. Bitcoin ( BTC ) has jumped over the $37k handle on Wednesday surpassing the cryptocurrency’s previous all-time high (ATH). At approximately 7:04 p.m. (EST), BTC touched an ATH of around $37,400 per unit. Bitcoin is up 8.5% during the last 24 hours, 27% during the last seven days, 91% for the month, and 235% for the 90-day span. BTC is also up more than 350% against the U.S. dollar for the last 12 months. At approximately 7:04 p.m. (EST), BTC touched an ATH of around $37,400 per unit. Currently, BTC is still riding above the $37k handle. Despite BTC ’s price being so high, the Bitcoin dominance index is a tad lower. The ...
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Trump Bans Chinese Payment App Giants Alipay and Wechat- Order Could Steer Billions of Dollars Toward Bitcoin

Cryptocurrencies may see a boost between China and the U.S., as the American president Donald Trump has signed an executive order banning financial transactions with eight China-based payment applications. Following the signing of Trump’s new executive order, popular payment apps including Alipay, Wechat Pay, and Tencent’s QQ will be banned in America in 45 days. According to the latest executive order signed by U.S. President Donald Trump, Americans will be prohibited from transacting with eight different Chinese payment applications. Transactions processed with these apps will be prohibited in 45 days according to Trump’s latest edict. The applications that fall under Trump’s ban include WPS Office, QQ Wallet, Alipay, Camscanner, Shareit, Tencent QQ, Wechat Pay, and Vmate. Trump’s administration claims the prohibition has been enacted for national security reasons and it follows the executive order Trump signed to ban the China-based app Tiktok. In August, Trump signed that speci...
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ETH en route to overtake its 2018 ATH as Bitcoin breaks $37K

ETH broke above $1,200 for the first time in almost three years, extending its weekly gains to 62%. Bullish fervor surrounding Ethereum ( ETH ) intensified on Wednesday, as the second-largest cryptocurrency broke above $1,200 for the first time in three years. The gains were largely driven by a confluence of fundamental factors, including Bitcoin’s parabolic rally, the anticipation of ETH futures contracts and a surging DeFi sector.  ETH price exceeds $1,200 Ether’s value peaked at $1,223.84 on Bitstamp, its highest since Jan. 2018 just before the market topped. At press time, ETH was up 8% and trading just above $1,210. The cryptocurrency is up more than 60% over the past week, bringing its total market cap to $135 billion. ETH/USD exchange rate via TradingView At the current pace, Ethereum looks poised to smash its previous record high of $1,432.88, possibly in the next few days. Bitcoin juices up entire market As 2021 ramps up, Bitcoin’s gravitational pull on the broa...
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Cardano’s market cap flips Bitcoin Cash (BCH) after ADA rallies by 100%

In the past week, Cardano price surged by more than 100% and overtook Bitcoin Cash to become the sixth-largest cryptocurrency. The price of Cardano ( ADA ) rose more than 100% in the past week as it overtook Bitcoin Cash (BCH) to become the world’s sixth-largest cryptocurrency by market capitalization. There are two major factors behind ADA’s strong upsurge throughout the past several weeks. First, most major cryptocurrencies saw large rallies following BTC’s uptrend to $36,400 and Cardano has some important network upgrades lined up in 2021. ADA/USDT daily price chart (Binance). Source: TradingView.com Excitement builds over Cardano's smart contract deployment Cardano launched the Shelley mainnet in 2020, kickstarting the growth of Cardano as a proof-of-stake blockchain protocol. The release of Shelley was a major milestone for Cardano, which led the overall sentiment around ADA to improve throughout 2020. However, functional smart contracts are yet to be deployed on the...
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Crypto market cap breaks $1 trillion following jaw-dropping rally

The combined value of all cryptocurrencies just hit $1 trillion as Bitcoin and Ether continue to surge. The total cryptocurrency market capitalization — a major bellwether for the overall health of the digital asset class — broke $1 trillion for the first time ever at 19:00 ET on Tuesday January 6th. Bitcoin briefly topped $37,000 around the same time, marking a new record high. Measured by market cap, the crypto asset class has virtually doubled over the past month as Bitcoin ( BTC ) broke out to new all-time highs and Ether ( ETH ) cleared $1,100 for the first time in three years. Combined, both assets account for roughly two-thirds of the overall market. BTC and Ether’s gravitational pull on the market has seen dozens, if not hundreds, of cryptocurrencies, report double-digit percentage returns this past week. The trillion-dollar capitalization was reached mere days after the market exceeded the highs from the 2017-18 bull market. During the last cycle top in early 2018, the ...
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Trump Signs Order to Ban Ma’s Alipay, Other Chinese Apps

U.S. President Donald Trump signed an executive order on Tuesday banning the Alipay payment platform and seven other apps with links to the Chinese, saying the apps can access private information from their users. Separately, U.S. officials are considering banning U.S. citizens from investing in Alibaba Group, an affiliate of Alipay’s parent, and Tencent Holdings, […] https://ift.tt/3olRJqb
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As BTC price gets close to $36K, Bitcoin network hash rate hits new high

The Bitcoin network hash power is at an all-time high as the spot price looks to breach the $36,000 price mark for the first time. The Bitcoin ( BTC ) price is not the only metric seeing record numbers as the network hash rate has set a new all-time high. According to data from Blockchain.com, the estimated seven-day average Bitcoin hash rate is now at about 148 exahashes per second, or EH/s. This figure represents the amount of computing power expended by miners to secure the network every second. Bitcoin hash rate. Source: Blockchain.com  Tweeting on Jan. 1, on-chain analytics data provider Glassnode revealed that Bitcoin recorded its largest average monthly hash rate of 136 EH/s in Dec. 2020. ATH: December's hash rate (136 exahash / s) was the highest in #Bitcoin 's history so far Chart: https://t.co/M6ZrAkKGRh pic.twitter.com/QOn5CRtWAR — glassnode (@glassnode) January 1, 2021 The current hash rate growth is in keeping with the trend observed since the star...
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One Bitcoin at $34K now buys one Tesla after Elon Musk has a Dogecoin Christmas

A healthy price boost to both BTC and DOGE comes as hodlers can now afford a whole Tesla Model 3 with a single Bitcoin. Bitcoin ( BTC ) hodlers can now all own a Tesla electric car — as long as they have at least 1 BTC in their wallet. As BTC/USD crossed $34,000 at the weekend and went on to hit $35,600 on Jan. 6, the brainchild of Elon Musk became more affordable than ever. 2021 exchange rate: 1 BTC = 1 Tesla As per pricing on Tesla's official website, the company's entry-level offering, the Model 3, retails at $33,960 in the United States if no environmental fuel rewards are applied. Musk, who has long taunted Bitcoiners with tweets and comments which leave it unclear whether he supports it, continues to face pressure to accept the cryptocurrency for Tesla purchases. "A #bitcoin now buys you a Tesla. So, when will you accept it, @elonmusk ?" popular Twitter account Documenting Bitcoin wrote at the weekend. Samson Mow, CEO of Blockstream, also noted the bra...
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Ukraine Chooses Stellar Foundation to Develop Its CBDC, Regulatory Infrastructure for Stablecoins

The Ministry of Digital Transformation of Ukraine has picked the Stellar Development Foundation (SDF) to develop its central bank digital currency project (CBDC). Ukraine Picks Stellar Foundation to Develop Its Central Bank Digital Currency and National Virtual Asset Strategy According to the official announcement , both parties signed a “Memorandum of Understanding” to deploy Ukraine’s crypto strategy. The National Bank of Ukraine has been exploring CBDC’s for some time, there are reports on the matter since 2016. The agreement will also strengthen the country’s ongoing efforts to develop a legal framework for the crypto industry in the nation and build an infrastructure for such purposes. Oleksandr Bornyakov, Deputy Minister of Digital Transformation for IT Development of Ukraine, commented on the goals the government targets with the Stellar deal: Another important aspect of this cooperation is contributing to the development of the infrastructure for a Ukrainian national di...
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Italian Banking Association launches experimental digital euro project

The Italian Banking Association, ABI, is conducting digital euro tests as the European Central Bank is yet to make a clear decision on a central bank digital currency. The Italian Banking Association, or ABI, has affirmed its support for the implementation of a sovereign European digital currency by beginning pilot studies on a digital euro project. According to an announcement, the association is working with its research and development arm, ABI Lab, and commercial banks in the country to develop an experimental digital euro. The ABI’s digital euro study will reportedly focus on two major areas — technical feasibility analysis and central bank digital currency programmability to create a distinction from existing electronic payment methods. Italian enterprise network firm SIA will assist the consortium in the technical feasibility studies. SIA is also a collaborator in Project Spunta,  the ABI’s blockchain-based interbank settlement layer . While the project is focusing on...
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Kyrgyzstan's central bank opens up crypto draft laws to public discussion

The central bank of The Kyrgyz Republic has drafted regulations that recognize cryptocurrency exchanges in the country for the first time. Kyrgyzstan ’s central bank has completed the drafting of two bills designed to recognize and regulate the country’s emerging crypto sector. According to an official  announcement , the National Bank of the Kyrgyz Republic has opened up the two bills, " On the Processing of Cryptocurrencies " and " On amendments to legislative acts in the field of virtual assets ," to public discussion. Interested parties have until Feb. 21 to submit their comments and concerns regarding the legislation. The proposed legislation seeks to recognize cryptocurrency exchanges, outlining that exchanges must be operated by legal entities licensed with the country’s central bank. The bill contains reporting requirements aimed at reducing money laundering and terrorist financing risks. There are also protections for consumer rights, and provisions f...
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Dem candidate beats former Bakkt CEO Kelly Loeffler in tight senate race

Kelly Loeffler has lost the Georgia runoff election to Democratic challenger Raphael Warnock. Senator Kelly Loeffler, formerly the CEO of Bitcoin ( BTC ) futures exchange Bakkt, will not be returning to Washington, at least not as a legislator.  According to AP News on Jan. 6, Democratic candidate Raphael Warnock has won one of the tightly contested runoff elections in the Southern state of Georgia.  The runoff elections have been closely watched in the United States, as they will determine which party controls a majority in the Senate, which will set the timbre for President-elect Biden's legislative approach when he assumes office on Jan. 20.  The race is still too close to call between Republican David Perdue and Democratic challenger Jon Ossoff.  The runoff elections were necessary after no candidate received the necessary portion of votes to win in the regularly scheduled elections in November.  While AP and The Guardian have called the race for War...
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