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Showing posts from January 24, 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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Crypto Exchange Giant Coinbase to Sell Shares Privately Ahead of Public Offering

According to a recent report, the San Francisco-based cryptocurrency exchange Coinbase is purportedly planning to sell stock on Nasdaq’s private market ahead of the initial public offering (IPO). Coinbase reportedly notified shareholders that they will receive information pertaining to the private sale this week. Reports Indicate That Coinbase May Sell Shares via the Nasdaq Private Market Ahead of the IPO Coinbase is the biggest digital currency exchange in the United States and one of the largest trading platforms worldwide. At the time of publication, between BTC and ETH deposits, Coinbase holds over $40 billion in digital assets under management (AUM) according to Bituniverse exchange balance ranks. As far as other digital assets under management the San Francisco exchange recently noted it holds $90 billion AUM in cryptocurrencies. In mid-December, Coinbase announced the confidential filing of an S-1 initial public offering with the U.S. Securities and Exchange Commission....
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Should I Buy Bitcoin? — Switzerland’s Largest Bank UBS Provides Guidance on BTC Investing

Switzerland’s largest bank, UBS, has published guidance for clients about investing in bitcoin. The bank answers some important questions, such as whether one should buy bitcoin and other cryptocurrencies and whether bitcoin can be used to diversify portfolios. ‘Should I buy’ Bitcoin? UBS Answers UBS published a detailed report about bitcoin last week. It answers some questions that the bank is currently discussing with its clients, explained the report authors, including the firm’s chief investment officer of global emerging markets, Michael Bolliger. UBS Group is currently Switzerland’s largest bank by total assets, followed by Credit Suisse Group. The first question UBS answered in its report entitled “The rise of bitcoin” was “Should I buy?” The report explains that “Many clients are asking whether they should invest in bitcoin and other cryptocurrencies,” adding: Our general guidance is this: While we wouldn’t rule out further price increases, we’re somewhat skeptical of any...
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Mad Money’s Jim Cramer Advises $731M Powerball Jackpot Winner to Put 5% in Bitcoin

Mad Money host Jim Cramer has provided some investment advice aimed at the latest Powerball jackpot winner of $731.1 million. He recommends putting 5% of the jackpot in bitcoin alongside several other investments, such as gold and real estate. Jim Cramer Says Put 5% of Powerball Jackpot in Bitcoin Someone won a Powerball jackpot worth an estimated $731.1 million last week, which was one of the largest lottery prizes in U.S. history. The winning ticket was sold at Coney Market, a convenience store in Lonaconing, a town in Maryland. The store will get a $100,000 bonus for selling the ticket. Jim Cramer, the host of Mad Money on CNBC, offered some advice to the lucky winner on Friday. The former hedge fund manager also co-founded the financial website Thestreet.com. Cramer provided a list of investments he recommends for the jackpot winner. It consists of precious metals, real estate, art, bitcoin, municipal bonds, and dividend-paying stocks. List of Jim Cramer’s recommended invest...
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Aave hits record $288 high as demand for flash loans and staking increases

Surging volume, demand for flash loans and a strong rally in DeFi tokens pushed AAVE price to a new all-time high today. Aave (AAVE) price has been on an absolute tear for weeks and today the DeFi-token rallied to a new all-time high at $288.90.  The decentralized finance protocol is one of the most popular in the market and the recent rally in the DeFi sector is one of the driving forces behind AAVE’s rally. AAVE/USDT 4-hour chart. Source: TradingView At the start of 2021, AAVE price was trading at $83 and the recent rally appears to have bolstered the protocol’s surging total value locked, increasing buy volume on spot and derivatives exchanges and the continued development of Aave’s lending platform and flash loan issuance. TVL soars to a new high Data from DeFi Pulse shows that Aave’s TVL rose from $2.03 billion on Jan. 1 and as ( BTC ) and Ether ( ETH ) price went parabolic Aave’s TVL also surged. Total value locked on AAVE. Source: DeFi Pulse Currently, Aave’...
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Top 5 cryptocurrencies to watch this week: BTC, ETH, DOT, AAVE, SNX

Select altcoins are rallying to new all-time highs while Bitcoin remains pinned below $33,000. As Bitcoin price trade sideways, traders are keeping an eye out for new purchases from institutional investors in order to gauge whether BTC 's correction is over. MicroStrategy’s recent purchase of 314 Bitcoin at an average price of $31,808 is a mild sentiment booster but it may not be enough to arrest the decline if buyers do not step in and sustain their purchases at higher levels. A recent timezone analysis by QCP Capital divided the Asia and U.S. trading sessions into a 12-hour bracket and found that since March 2020 Bitcoin price had risen during U.S. hours due to sustained buying from institutional investors. However, this buying momentum from the U.S. has shown signs of exhaustion for the first time since Bitcoin topped out about two weeks ago. Crypto market data daily view. Source: Coin360 While keeping an eye on institutional investor inflow is a good strategy, it'...
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Crypto ETF Race Heats Up in 2021- Valkyrie Bitcoin Trust Files to List Shares on NYSE

2021 has been an explosive year for bitcoin as the crypto asset has touched new all-time price highs as cryptocurrencies have seen increased demand. Meanwhile, a number of crypto proponents expect the first exchange-traded fund (ETF) to be approved this year as a number of firms are racing to launch an ETF. On Friday, the Texas-based firm Valkyrie Digital Assets filed an ETF registration proposal called the Valkyrie Bitcoin Trust with hopes to list the fund on the New York Stock Exchange (NYSE). Crypto Proponents Expect a Bitcoin Exchange-Traded Fund Approval in the US This Year This year just might be the year when U.S. regulators approve a bitcoin ( BTC )-based exchange-traded fund (ETF) that’s hosted on a major stock exchange. For instance, in December, news.Bitcoin.com reported on Vaneck’s bitcoin-based ETF filing with the U.S. Securities and Exchange Commission (SEC). This week, Vaneck also filed for another exchange-traded fund called the Digital Asset ETF, which aims to ...
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SEC vs. Kik Interactive: A status update on the Kin ecosystem and Kin tokens

A deep analysis of the actual final judgement in the U.S. Securities and Exchange Commission versus Kik Interactive case. Much has been written about the Sept. 30, 2020, decision by Judge Alvin Hellerstein of the Southern District of New York in the U.S. Securities and Exchange Commission vs. Kik Interactive .  In that order, the judge ruled in favor of the SEC’s motion for summary judgement, applying the Howey Test in the course of determining that Kik Interactive had violated the federal securities laws by selling contractual rights to acquire Kin tokens and later by issuing and selling the Kin tokens themselves. Less has been said about the actual final judgement, entered by the court on Oct. 21, 2020, pursuant to an agreed-upon settlement reached by the parties. The final order of judgement entered based on that settlement enjoins Kik and its agents and active participants in the original distribution who have actual notice of the order from various acts. First, all such ...
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Anthony Scaramucci says holding Bitcoin as safe as owning bonds and gold

Scaramucci’s SkyBridge Capital introduced a new Bitcoin fund in early January. He says that improved infrastructure and regulation have made BTC investments "as safe as owning bonds and commodities like gold." Anthony Scaramucci, the head of SkyBridge Capital and former White House communications director, believes Bitcoin’s ( BTC ) value proposition has strengthened significantly now that governments have addressed many of the risks associated with the digital asset.  In an opinion article published on CNN, Scaramucci and fellow SkyBridge executive Brett Messing argue that Bitcoin has become a viable option for long-term investors seeking refuge from inflation. The authors also claim that holding Bitcoin is far less risky today than it was a few years ago when regulations and infrastructure were still underdeveloped.  Bitcoin’s growth has “caused government and institutions to step in and address many of the risks associated with the digital currency,” the authors wrote...
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No more pushes and pushbacks: Digital ID solves the privacy dilemma

The need for secure, privacy-centric, fraud-proof digital identities that allow us to demonstrate our credentials has never been greater. A year unlike any other, when much of life went online, created a compelling case for digital identity. Talk of “ immunity passports ,” privacy-protecting contact tracing apps and even a potential move to online voting systems all speak to the need for robust digital identities. In July 2020, the World Economic Forum published a briefing paper covering the risks and opportunities around “the internet of bodies.” From wearable technology to connected medical implants, it’s evident that our future digital identities could comprise more data than we ever thought possible. But the push for digital identity is also provoking strong pushback. The idea that we should hand over even more control of our data to governments and institutions is a cause for alarm for many people. Related: Users vs. governments: The 'infinity war' for blockchain ...
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Global Chip Shortages Disrupt Bitcoin Mining Rig Production: China’s Dominant Position as Hash Rate Leader Under Threat

The ongoing global shortage of chips that are used in the production of bitcoin mining rigs is now causing manufacturing disruptions. According to one report, these disruptions are causing a shortage of rigs on the market and subsequent price increases. Already, the report suggests that the prices of new mining rigs have doubled while second-hand machines saw their prices go up by more than 50% in the past year. Chipmakers Shunning Bitcoin Rig Makers Fueled by the rising value of bitcoin, the demand for mining rigs has been rising as miners seek to maximize returns. However, as the report explains, chipmakers are making the situation worse as they now prioritize supplying other sectors. According to the report, chipmakers like Taiwan Semiconductor Manufacturing Co and Samsung Electronics Co are reportedly shunning bitcoin mining rig makers. Quoting Alex Ao vice-president of Innosilicon, the report says chipmakers are choosing to serve “sectors such as consumer electronics” because...
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The United States updates its crypto AML/CFT laws

The U.S. Anti-Money Laundering and Combating the Financing of Terrorism laws: Where will these updates lead the crypto space? Against great push back from the crypto industry and as the price of Bitcoin ( BTC ) reached new all-time highs several times during the last couple of months, the United States has updated its cryptocurrency Anti-Money Laundering/Combating the Financing of Terrorism laws. Related: COVID-19 pandemic spurs crypto law updates in J5 countries The Anti-Money Laundering Act of 2020 and the Corporate Transparency Act Last December, the Senate approved the National Defense Authorization Act and, as part of that legislation, passed the Anti-Money Laundering Act of 2020 and the Corporate Transparency Act. Related: EU amends AML laws for crypto trading as US ponders The Act’s provisions broaden and update the Bank Secrecy Act , or BSA, and the U.S. AML/CFT regime by: Codifying existing FinCEN guidance related to digital currencies by expanding and modifying se...
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Hat-trick hero: Empty stadiums get blockchain and soccer to play together

Soccer clubs are now resorting to blockchain and crypto for fan engagement, tokenization and even new signings, with the potential for many more use cases. In a first for professional soccer, Spanish team DUX Internacional de Madrid has used crypto to buy a new player. Ex-Real Madrid player David Barral is a new acquisition for the club facilitated by the cryptocurrency trading company Criptan. Although technically this is not the first recorded Bitcoin ( BTC ) transfer, amateur Turkish club Harunustaspor bought 22-year-old player Omer Faruk Kiroglu back in 2018 for 0.0524 Bitcoin and 2,500 Turkish Lira. This move was performed to gain attention for the club in international media for doing “something new” but not necessarily sparking blockchain adoption in soccer. DUX’s acquisition is indicative of the adoption of blockchain technology and crypto tokens within the soccer community and its fans. This development came soon after European soccer giant AC Milan joined the blockchain...
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