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Showing posts from January 10, 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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The CFTC Asks Court to Issue Fines in Excess of $100M Against Mastermind of a Fraudulent Crypto Scheme

The Commodity Futures Trading Commission (CFTC) has filed a motion with the New York Southern District Court that seeks heavy penalties against Michael Ackerman, the mastermind of a fraudulent cryptocurrency scheme. According to the motion, the U.S. agency wants the court to order Ackerman to pay $27 million in restitution plus a civil penalty of $81 million. Additionally, the CFTC wants a default judgment issued against Ackerman after he failed to turn up for the initial motion hearing. The initial motion filing, which the agency filed together with the U.S. Securities and Exchange Commission (SEC), followed allegations that Ackerman had disappeared after raising funds from investors. According to a report that summarises the case, Ackerman, a former stockbroker, allegedly raised around $33 million from over 150 investors. Ackerman successfully convinced the investors that he would invest a significant part of their funds in the crypto market. The report adds that Ackerman also cl...
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Crypto Advocates Think Joe Biden’s $3 Trillion Stimulus Plan Will Bolster Bitcoin

According to various reports, U.S. President-elect Joe Biden is planning to create another $3 trillion for Covid-19 relief and infrastructure. The massive stimulus plan and the backers behind the Biden administration have made crypto proponents believe that bitcoin will prosper greatly. Biden Proposes to Finance Covid-19 Relief and Infrastructure With $3 Trillion Ever since the coronavirus outbreak took hold across America, politicians and members of the U.S. Federal Reserve has distributed massive amounts of dollars to special interests and Wall Street trading houses. Americans did get a stimulus check for $1,200 during the last program, and then $600 per person during the most recent stimulus plan. Reports say U.S. President-elect Joe Biden is planning to create another $3 trillion for Covid-19 relief. Trillions of U.S. dollars have already been issued for Covid-19, and it is estimated that a quarter of all the USD in existence was minted in 2020. Now reports indicate that U.S...
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Mad Money’s Jim Cramer Advises How to Invest in Bitcoin, When to Sell

Mad Money host Jim Cramer has some advice on how to invest in bitcoin and when is a good time to sell. He said, “I’m a bitcoin believer,” outlining the reasons why he is sold on the cryptocurrency and why people are buying bitcoin instead of gold. Jim Cramer’s Advice on Investing in Bitcoin Jim Cramer, the host of Mad Money on CNBC, gave some advice on investing in bitcoin on Wednesday. The former hedge fund manager is also the co-founder of Thestreet.com, a financial news and literacy website. “People don’t believe in fiat currency anymore,” Cramer began. “People believe that the United States is printing money … But bitcoin is not printing bitcoin. So that’s more valuable in the same way that gold is hard to find. And gold is growing, we find, about 1% more than we had the year before, that’s all … so it has to do with scarcity.” Emphasizing that “There’s no scarcity of dollars” while “There’s some scarcity of gold,” he contrasted: There’s total scarcity of bitcoin. When you h...
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Solana (SOL) trading volume soars as DeFi investors seek ETH alternatives

The DeFi sector is booming again and the need for fast, scalable, Ethereum alternatives has sent Solana (SOL) trading volume to record-highs. 2021 got off to a quick start and the current crypto bull market has seen assets like Bitcoin ( BTC ) and Ether ( ETH ) shoot to new all-time highs on an almost daily basis.  While new price highs are positive for investors, they do present a range of challenges relating to fees, transaction speeds and the centralization of what is meant to be a decentralized ecosystem. Since mid-2020  institutional investors have been steadily flooding into cryptocurrency  and this is exacerbating the issue of scalability, high transaction costs and lengthy confirmation times on the Bitcoin and Ethereum blockchain. Eth2 is steadily rolling out , but it could still be some time before users will benefit from its host of new features. This leaves the door open for other viable candidates to fill the void and a handful of layer 2 projects are gain...
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Crypto user recovers long-lost private keys to access $4M in Bitcoin

Even with their newfound fortune, the lucky student said they will avoid “expensive luxuries” like a new car or house. A student has claimed to have found private keys accidentally HODLed starting as early as 2011 which will unlock more than $4 million in Bitcoin. According to a throwaway account from BitcoinHolderThankU, the Reddit user was able to cash out roughly $4.2 million in Bitcoin ( BTC ) after finding the lost keys to 127 BTC on Dec. 22, when the price of the crypto asset was in the $23,000s. They later liquidated the coins in the middle of the bull run. “I spent the next week figuring out how to safely and securely liquidate such a large amount of Bitcoin for the cheapest price possible,” said the Redditor. “I went back and forth between different [over-the-counter principal desks] and ultimately ended up selling all 127 Bitcoins for a price of $33,439.02 per coin minus a 0.15% fee. The net was roughly $4.24 million.” They claim to have earned Bitcoin in 2011 or 2012 ...
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‘Wen $DIGG?’ Badger DAO preps for hotly anticipated synthetic BTC launch

Badger DAO founder Chris Spadafora on bringing a long-awaited product to market and building for the future The launch of Badger DAO’s DIGG, a synthetic rebasing asset meant to track the price of Bitcoin, is one of the most eagerly anticipated product releases in recent DeFi memory — but the person most excited to see DIGG hit the market might not be a trader, but instead Badger DAO founder Chris Spadafora himself.  According to community-minded Spadafora — who would be quick to note that he doesn’t care for the “founder” label despite its technical truth — anticipation for the launch has led to more than one ‘badgering’ inquiry directed at him on Twitter. “You’ve probably seen it… ‘When $DIGG, when $DIGG’ — it’s constant,” Spadafora sighed. For all the excitement, however, the exact date of the launch is still unknown. In an interview with Cointelegraph Tuesday, Jan. 5, Spadafora said DIGG was set for release “within a few days.” However, on a Friday community call, he pushed...
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While Bitcoin’s Price Dips in Value, Crypto Assets Like Ethereum and Bitcoin Cash Shine

The price of bitcoin has dropped on Sunday losing more than 6% during the last 24 hours, but a myriad of other coins have seen significant gains in contrast. Cryptocurrencies like bitcoin cash, ethereum, and monero have all jumped in value while bitcoin has seen a decent drop. Bitcoin ( BTC ) dropped to a low of $37,194 on Sunday, January 10, 2021, after hitting its all time high a day and half prior. Currently, BTC is down over 6.4% and is trading for $38,239 per unit during Sunday’s afternoon trading sessions (EST). On Saturday and Sunday, while BTC consolidated, ethereum ( ETH ) jumped to a 2021 price high of $1,340 per coin. ETH is still up today over 4% and is swapping for $1,285 per token on Sunday. Another cryptocurrency that has seen significant gains this weekend is bitcoin cash ( BCH ) which is up 14% today. However, yesterday BCH was up over 30% and traded at a 2021 high of $625 per unit. Bitcoin cash ( BCH ) is currently trading for $612 per coin and has a marke...
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Top 5 cryptocurrencies to watch this week: BTC, ADA, EOS, THETA, AAVE

Altcoins rallied strongly over the past week, but Bitcoin’s current consolidation could be a sign that the trend may reverse soon. During an interview with Bloomberg, Grayscale CEO Michael Sonnenshein said that in addition to hedge funds, pension funds and endowments had also started investing in the Grayscale family of products. This suggests that a broad spectrum of institutions are accumulating Bitcoin ( BTC ). As this trend gathers speed, investment banks have also decided that they do not want to be left behind. A recent filing from Morgan Stanley shows a purchase of a 10.9% stake in business intelligence firm MicroStrategy, a move that was likely made in order to gain exposure in Bitcoin. With 70,470 Bitcoin in their possession, MicroStrategy has become a proxy play on Bitcoin. Several analysts suspect that the current demand could also be coming from investors who have been closing their gold positions and buying Bitcoin. On a query about the recent underperformance of gol...
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Bar owner wants to sell two NYC watering holes for $1M in Bitcoin

"I’m hoping to catch one of these crypto dudes who always wanted to own a bar," said Patrick Hughes. New York City bar owner and crypto enthusiast Patrick Hughes is offering to sell two of his popular restaurants in the Hell's Kitchen neighborhood of Manhattan for cryptocurrency. According to a report from the New York Post, Hughes will accept crypto payments in the form of Ether ( ETH ) or Bitcoin ( BTC ) for the sale of Hellcat Annie’s and Scruffy Duffy’s located on 10th Avenue in New York City. A sign in front of the bars states that the asking price is 800 ETH or 25 BTC for both properties — roughly $1 million at the time of publication. Photo courtesy of Tamara Beckwith, NY Post “I’m hoping to catch one of these crypto dudes who always wanted to own a bar,” said Hughes, referring to crypto as decentralized, global, and a “hot currency.” The 56-year-old Queens native owner cited the shutdowns caused by the global pandemic as the one of the reasons behind th...
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Sleeping Bitcoins Worth $40 Million Move- Mystery Miner Spends Another 1,000 BTC From 2010 Block Rewards

On January 10, another strange string of 20 bitcoin block rewards from 2010 was spent after sitting idle for over ten years. The spending of 1,000 decade-old bitcoins worth over $39 million today, follows the recent string of 1,000 units transferred on the 12th anniversary of Bitcoin’s genesis block launch. Seven days ago an old-school miner spent 20 block rewards from 2010 that held approximately 1,000 decade-old bitcoins. The interesting spending took place on January 3, 2021, on the 12th anniversary of the Bitcoin network’s start. Following that string of 2010 block rewards moved, on Friday, January 8, a block created on June 21, 2010, was spent at block height 665,055 and was likely a different entity than the mysterious miner news.Bitcoin.com has been following since March 2020. However, two days later after the single block spend, it seems the mystery miner has appeared once again spending a massive 1,000 decade-old bitcoins that sat idle for ten years. Today’s 1,000 bitcoin...
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Key Bitcoin price metric signals BTC may be near a local top

Bitcoin miners are selling at a level unseen since July 2019 when BTC price topped out at $14,000. According to data from CryptoQuant, miners appear to be selling large amounts of Bitcoin ( BTC ). Historically, heightened selling pressure from miners marked a local top and led to sharp, prolonged corrections. BTC/USDT 1-hour chart. Source: TradingView.com Why are Bitcoin miners selling? In May 2020, on-chain analyst Willy Woo said that there would be two sources of unmatched selling pressure in the market after the block reward halving. Woo pinpointed Bitcoin miners and cryptocurrency exchanges selling the fees they gain in the form of crypto assets as the sources of selling pressure. He said : “There’s only two unmatched sell pressures on the market. (1) Miners who dilute the supply and sell onto the market, this is the hidden tax via monetary inflation. And (2) the exchanges who tax the traders and sell onto the market.” Hence, in the short to medium term, miners could cont...
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CoinSpot Is Ideal Starting Point for Australian Investors to add Crypto to Portfolios in 2021

PRESS RELEASE. As the most trusted platform to buy, sell and exchange Bitcoin, Ethereum, and more than 230 other cryptocurrency tokens for Australian investors, CoinSpot encourages people who have not yet explored the investment opportunities surrounding crypto to make this new year the time they get involved. Of the four largest crypto tokens, which include Ethereum and Bitcoin, three saw enormous gains during 2020, and at the start of January 2021, the market is worth over a trillion USD. CoinSpot encourages Australian investors to start expanding their portfolios into this exciting market as continued growth is expected this year. CoinSpot offers a simple and user-friendly way to purchase cryptocurrency wallets, as well as to sell and exchange them, making it easy to get started with investing in crypto. The solution is designed to streamline exchanges between different tokens by allowing traders to directly swap between over 230 tokens and use instant prices to lock in the pri...
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Daniel Larimer, CTO of EOSIO developers block.one, resigns

In a short blog post on EOS social media platform Voice, Larimer hinted at future social media development Daniel Larimer, the CTO of EOSIO developers block.one and founder of early crypto exchange Bitshares and blockchain-based social media platform Steem, announced in a short blog post today that he has resigned.  “[I] am proud of the EOSIO software I was able to create and launch with the help of an extremely talented group of engineers. Alas, all good things must come to an end. As of December 31, 2020 I have resigned my position as CTO of block.one,” the post read. While the post didn’t specify a reason for the departure, his recent social media activities may hint at the founder and technologist’s next moves. In Friday Twitter post, Larimer said that “it’s time to abandon” the social media platform, and warned of users’ “last chance” to download certain social apps — a possible response to Twitter banning president Donald Trump and multiple app stores deplatforming Parl...
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MTI Bitcoins Sent to Privacy Mixers as New Data Breach Exposes the Ponzi Scheme’s Top Earners

In another twist to the Mirror Trading International (MTI) bitcoin Ponzi scam, the blockchain intelligence firm Whitestream says bitcoins from wallets associated with the company are being sent to Wasabi privacy mixers. According to Whitestream’s update, this pivot to mixers suggests that operators of the Ponzi are trying to obfuscate the movement of the bitcoins. Conspiracy to Hide Funds The reports of MTI bitcoins going to mixers follow the recent disappearance of the company’s CEO, Johann Steynberg late last year. This also comes after a South African court granted a liquidated order against MTI. In an update on January 2, Whitestream explains that in the weeks preceding its report, about 75 BTC (or over $3 million) was sent to this address . Following that transaction, the blockchain intelligence firm claims it then observed the transfer of about 10 BTC from this address to a Wasabi Mixer. Meanwhile, Whitestream Co-Founder and CEO, Itsik Levy tells News.bitcoin.com that t...
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