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Showing posts from January 26, 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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Wall Street “Perma Bear” Predicts Stock Market Crash: Says Bitcoin Cannot Be Ignored as He Touts Gold

Long term Wall Street bear and bitcoin holder, David Tice predicts that the stock market will crash fall by 30% in a retreat that will persist for two years. Although the veteran investor is not giving the specific commencement date for this downturn, he warns that when it breaks, “it’s likely to break hard and cause investors to suffer for a long time.” Biden Administration Policies In remarks made during an interview , Tice, who claims to be a “believer in the Austrian School of Economics”, points to the “business-unfriendly policies from Washington” as one of the key reasons for his pessimism. Specifically, the veteran investor attacks some of the Biden administration’s early decisions saying: We now have a Biden administration that has a Senate and a House. They’re likely to enact very much more anti-capitalist policies. They have already raised the minimum wage. That’s going to hurt earnings on the cost side. Tice also says that “easy monetary and fiscal policies that suppo...
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Mining City: A New Opportunity for the New Year

Mining City’s growth throughout 2020 has been significant. With an easy-to-use website, thousands of community members active all over the world and regular promotions, now is a great time to begin reaping the possibilities that Mining City ( www.miningcity.com ) has to offer in 2021. What Is Mining City? Mining City is an initiative that unites people through mining cryptocurrency. Using a “mining plan” structure it gives its users the opportunity to obtain hash power needed for mining. This hash power entitles them to a portion of the total mining reward. Put simply, once users get their mining plan, they’ll start receiving cryptocurrency. Hash power provided by Mining City is generated by the highly reliable data centers. Minebest is one of the strategic partners of Mining City whose core business entails building data center facilities tailored for providing professional hosting services of mining equipment. These farms have mining machines running at optimal standards and eff...
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Bernie Sanders mitten memes immortalized in new NFT collection

He may not be President, but Bernie Sanders will live on as long as blockchain exists, thanks to a series of NFTs celebrating his mittens. Topps Digital released their latest line of NFT collectibles today, featuring Senator Bernie Sanders and his winter mittens as the subject of the promotional series.  The collectibles , dubbed “GPK Bernventures,” are digital packs containing two non-fungible tokens issued on the WAX blockchain. The card drawings are in the style of Topps’ long-running Garbage Pail Kids series, which was originally launched in 1985. The series features 18 unique depictions of Senator Sanders’ now-famous Inauguration Day pose — masked up and bundled in winter weather apparel — capturing the meme for all eternity through the immutability of blockchain technology. In the series, Sanders is cast in pose through a number of comical situations , such as living underwater, or surviving a Martian invasion. 2021's MEGA-meme machine hits the blockchain! Travel the...
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Bahrain Central Bank Issues License to Shariah-Compliant Crypto Exchange

Middle Eastern crypto exchange Coinmena said this week that it had obtained a crypto assets services company license from the Central Bank of Bahrain (CBB) ahead of its planned launch. In receiving the license, the exchange, which has been certified by the Shariyah Review Bureau, said it had met several technical, operational, and security requirements from the CBB. Coinmena added that the license allows it to operate as a regulated and onshore platform, becoming one of only a few fully licensed and operating crypto exchanges in the Middle East and North Africa (Mena) region, At launch, Coinmena plans to offer spot trading in five major crypto assets – bitcoin ( BTC ), ethereum ( ETH ), ripple ( XRP ), bitcoin cash ( BCH ), and litecoin ( LTC ) to both retail and institutional investors. It will also host an over-the-counter (OTC) desk for larger transactions. The exchange did not provide a date for its planned launch. Its services will be available to investors in Bahrain, the Un...
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Solana targets growth in Southeast Asia with a $5M grants scheme

The $5 million fund only allows projects with a physical presence in Southeast Asia to apply for the program which provides up to $100,000 plus technical and community support. Solana has turned its focus towards decentralized finance in Southeast Asia with a new $5 million development fund . The Solana Foundation created the fund in partnership with Vietnam-based investment firm Coin98 Ventures, enabling regional startups building on Solana to receive technical, marketing, and community support, as well as up to $100,000 in funding. The fund will run for the next three years with a specific focus on projects within the DeFi and Web3 spaces, including marketplaces, exchanges, and other DApps or tooling. This is one of the first grants specifying a core region of interest, with a particular focus on Vietnam. Solana Foundation Executive Director Eric Williams: "Our goal is to create the optimal conditions for developers in Southeast Asia to build amazing things on Solana."...
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Philippine Central Bank Widens Cryptocurrency Regulation — Sees ‘Accelerated Growth’ in Crypto Activity

The Philippines’ central bank, the Bangko Sentral ng Pilipinas (BSP), has expanded the country’s cryptocurrency regulation after seeing “accelerated growth” in the use of crypto exchanges. The new regulatory framework is in line with the guidelines recommended by the Financial Action Task Force (FATF), according to the central bank. Philippine Central Bank Introduces New Rules for Crypto Service Providers The Bangko Sentral ng Pilipinas (BSP), the Philippines’ central bank, announced Tuesday that it has established new guidelines on virtual asset service providers. “​The Monetary Board (MB) approved the guidelines on virtual asset service providers (VASP), or entities that facilitate financial services through the conduct of virtual asset (VA) activities, to cover new business models and activities,” the central bank explained. BSP Governor Benjamin E. Diokno commented: We have seen accelerated growth in the use VCEs in the past three (3) years and it is high time that we broade...
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Bitcoin billionaire set to run for California governor

Early Bitcoin investor Chamath Palihapitiya is eying running for governor of California. Early Bitcoin investor and industry proponent Chamath Palihapitiya has signaled a potential run for the position of California governor. The CEO of venture capital firm Social Capital, Chamath Palihapitiya , appeared to announce his intentions in a Tweet on January 26. The post linked to his new website with a number of promises for the U.S. state including massive tax cuts, an increase for teacher’s salaries, the end of student loans, and a handout for new births. Palihapitiya appears to be gearing up for the 2022 Gubernatorial race or potentially for a special election, though no specifics were provided beyond his intentions to get involved politically. The billionaire businessman has also joined efforts to force a recall vote for the current California governor Gavin Newsom which would lead to a special election later in 2021 according to reports . A growing number of Californians have bee...
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Ethereum’s realized cap spikes to record highs as capital floods in: Report

Ethereum’s realized cap has surged into new all-time highs this month, indicating that new money is rushing to accumulate ETH. Ethereum’s realized capitalization has increased by nearly 50% in January so far to tag new all-time highs above $70 billion, according to CoinMetrics. The data shows that Ethereum’s realized cap has more than tripled since dropping below $25 billion in during March 2020’s “Black Thursday” crash.. Ethereum’s realized cap: CoinMetrics The realized capitalization metric calculates the value of a crypto asset’s supply according to when each unit last moved on-chain. The indicator seeks to estimate the price actually paid for each ETH in circulation — rather than simply multiply the current price by the total supply as market cap does. However, realized cap cannot account for coins that are only traded on centralized exchanges and do not move on-chain. The indicator is designed to offer a way to compensate for lost or unclaimed coins by ignoring their app...
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Circle enables seamless USDC-USD transfers, providing a bridge from banks to DeFi

The result of developments in both crypto technology and regulation, Circle’s new USDC API provides a bridge between crypto and traditional finance. Circle, the company behind the second most popular stablecoin USD Coin, has rolled out a new API that will allow for the seamless transfer of USDC to USD via automated clearinghouse (ACH) systems.  The first exchange to adopt the new API will be derivatives and futures specialist FTX, looking to speed up USD settlement processes on behalf of their customers. In a blog entry, project manager Gee Chuang described how Circle’s ACH API improves connections between the fiat world and the digital world by introducing interoperability among payment rails, such as card, wire and blockchain transfers. Using the API, USD funds can be transferred easily between banks and blockchains with processing traditionally done manually, now automatic. “Circle APIs give us a fast, reliable and trusted infrastructure for connecting bank transfers to o...
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Bank of England Governor Warns Cryptocurrencies Won’t Last

The governor of the Bank of England, Andrew Bailey, believes that no existing cryptocurrencies will last. Talking about the design, governance, and arrangements of “a lasting digital currency,” the head of England’s central bank said, “I don’t think cryptocurrencies as originally formulated are it.” Bank of England Chief Andrew Bailey Doubts Any Existing Cryptocurrencies Will Last Bank of England (BOE) Governor Andrew Bailey talked about cryptocurrency at the World Economic Forum’s online Davos Agenda Monday. Speaking on a panel entitled “Resetting Digital Currencies,” he said that digital innovation in payments was “here to stay.” However, as for cryptocurrencies, the head of England’s central bank said: Have we landed on what I would call the design, governance and arrangements for what I might call a lasting digital currency? No, I don’t think we’re there yet, honestly. I don’t think cryptocurrencies as originally formulated are it. The Bank of England governor added: “The w...
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Indian Central Bank Sees Cryptocurrencies Gaining Popularity, Exploring Digital Rupee

India’s central bank, the Reserve Bank of India (RBI), has published a booklet with a section about cryptocurrency and the digital rupee. The central bank acknowledged that cryptocurrencies have gained popularity in recent years and confirmed that it is exploring the need for a central bank digital currency. RBI Says Crypto Has Gained Popularity, Exploring Digital Rupee India’s central bank published a “Booklet on Payment Systems” on Monday with a section on central bank digital currencies (CBDCs). The document covers “the journey of payment and settlement systems in India during the second decade of the millennium, viz., from the beginning of 2010 till the end of 2020,” the RBI described. A section of the booklet reads: Private digital currencies (PDCs) / virtual currencies (VCs) / cryptocurrencies (CCs) have gained popularity in recent years. In India, the regulators and governments have been sceptical about these currencies and are apprehensive about the associated risks. Ho...
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Two things may result in a Bitcoin blow-off top, says on-chain analyst

Prominent Bitcoin analyst, David Puell, says there are two things that could cause Bitcoin to top out in the future. David Puell, an on-chain analyst and the creator of the Puell Multiple, believes two things could cause Bitcoin ( BTC ) to see a temporary top this cycle. The analyst pinpointed the U.S. government potentially taxing unrealized gains and the possible approval of a Bitcoin exchange-traded fund (ETF) could cause BTC’s momentum to slow down. Why would an ETF have a negative impact on the short-term Bitcoin price cycle? The potential impact of the U.S. government imposing taxes on unrealized gains on the price of Bitcoin is quite clear. At the end of each taxation cycle, Bitcoin could see a heightened level of selling pressure, pushing its momentum down. But the prospect of a Bitcoin ETF potentially having a negative effect on the price of Bitcoin is a relatively new concept. Puell explains that the arbitrage play of taking advantage of the premium of the Grayscale ...
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Bitcoin made up 97% of total crypto inflows in 2021

Bitcoin trading volumes surged significantly this year, jumping from an average of $2 billion in 2020 to $12 billion. Bitcoin ( BTC ), the world’s largest cryptocurrency by market capitalization, remains the most preferred digital currency for investors, according to a new report. Bitcoin inflows accounted for 97% of total crypto inflows so far in 2021, according to a Jan. 25 report by digital asset investing company CoinShares. Bitcoin comprises 83% of digital asset investment products under management, while BTC investment products represent just 6.5% of total Bitcoin trading turnover. Amid a major cryptocurrency bull run in January, daily BTC trading volumes have massively surged so far this year, increasing from an average of $2.2 billion in 2020 to $12.3 billion this year. Crypto investment product inflows hit a record of $1.3 billion over the past week following a period of minor outflows, CoinShares noted. “We believe investors have been very price conscious this year due...
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Ideaology Launches IEO Public Sale Today on Bitcoin.com Exchange

PRESS RELEASE. January 26, 2020 – Bitcoin.com Exchange , one of the leading authorities in the cryptocurrency exchanges market, announces the launch of the Ideaology token (IDEA) public sale today at 10:00 UTC . Ideaology consists of a freelance platform which will accommodate most of the personnel needed to develop projects. The platform’s mission is to provide a host of freelancers and entrepreneurs with job options, a digital marketplace allowing platform users to sell or buy digital assets and services, as well as: Share materials and experiences. An Idea launchpad. A collection of innovative and inventive individuals, to establish a creative colony for introducing and launching revolutionary ideas. A funding base of individuals and enterprises interested in supporting new projects, whether through direct partnerships, or through crowdfunding options available on the platform. Ideaology is creating a unique collaborative digital community and a fertile environment for...
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These 5 charts show why Bitcoin price failed to break $35K

Selling and frantic trading continue while exchanges see more BTC enter than leave. Bitcoin ( BTC ) fell towards $30,000 on Jan. 26 after higher levels evaporated and fresh miner outflows appeared to suppress price action. BTC price rally turns sour Data from Cointelegraph Markets and Tradingview  showed the largest cryptocurrency abruptly U-turn as it neared $35,000 in early week trading.  At the time of writing, BTC/USD was lingering closer to $31,000, marking 24-hour losses in excess of 5%. A combination of factors, all of which suggest a short-term profit-taking mission among market participants, entered the scene on Monday to keep bulls from taking prices higher.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Miners likely still selling Data shows that miner outflows — funds leaving mining pools — continued to spike this week. As Cointelegraph reported , last week's price dive came as largest pool F2Pool saw several days of major outflows. T...
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Philippines' central bank to license crypto trading and custody firms

The Bangko Sentral ng Pilipinas has expanded its regulatory remit of the crypto space to include all cryptocurrency financial service providers. In keeping with the emergence of clear-cut crypto regulations across Southeast Asia, Philippines’ central bank, BSP, has enacted a broader licensing regime for digital asset firms in the country. According to the Philippine Daily Inquirer, all crypto financial service firms in the country must now be licensed by the BSP. Thus, exchanges dealing in crypto-to-crypto trading pairs and custody platforms must now obtain approval from the central bank. The expanded regulatory regime also covers cryptocurrency derivatives platforms. All crypto firms in the country will also have to comply with global financial best practices including Anti-Money Laundering and Countering the Financing of Terrorism. As a result, cryptocurrency transfers above a certain threshold will require identifying information for both the originator and beneficiary parties...
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Tor Project’s crypto donations increased 23% in 2020

Bitcoin remained the most popular cryptocurrency for the Tor Project’s donors in 2020, followed by altcoins like Ether, Monero and Zcash. The cryptocurrency community has been doubling down on its support to privacy-centric applications like Tor Browser in 2020, according to new data. The Tor Project, a non-profit organization behind the anonymous Tor Browser, saw a 23% increase in cryptocurrency donations in 2020. A spokesperson at the Tor Project told Cointelegraph that crypto-powered donations surged from $189,637 in 2019 to $233,019 in 2020. According to a Jan. 25 announcement by the project, crypto donations made up nearly 26% of total individual donations, which amounted to $913,110. According to a Tor Project representative, Bitcoin ( BTC ) was the most popular cryptocurrency for their donors in 2020, followed by Ether ( ETH ) and privacy-focused altcoins like Monero ( XMR ): “We have seen that Bitcoin remains the most popular cryptocurrency for our donors, followed by Eth...
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Dutch crypto exchange users bemoan additional KYC requirements

Bitstamp traders based in the Netherlands now have even more regulatory hoops to scale before being able to withdraw their funds. Crypto exchange platform Bitstamp is reportedly demanding additional Know Your Customer compliance steps for Dutch-based users. According to a notice sent to Twitter user “Bitcoin Marcus,” — a Bitstamp user — the platform says account holders in the Netherlands have until the end of January to provide additional verification documents or risk their accounts being suspended. Today @Bitstamp has gone even further than the law requires. They now want me to: - show them how much I earn - show them where I got my #bitcoin from - proof of funds Seriously!! WTF!! And I can’t withdraw and leave so must comply.. pic.twitter.com/ze4ixNJJyd — Bitcoin Marcus ☣️⚡️ (@plan_marcus) January 25, 2021 As part of the additional KYC protocols, users must provide information about their net worth, nationality and proof of residence. Other documents demanded by Bit...
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