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Showing posts from February 1, 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 Bets and Gamestop Saga to Be Made Into a Movie

The Wall Street Bets saga, an incredibly ridiculous story about a group of amateur Reddit investors who beat career Wall Street hedge funds at their own game, is to be made into a movie. According to a report by online news site Deadline on Jan. 31, Metro Goldwyn-Mayer (MGM) won the rights to produce the film in a bidding war involving major Hollywood movie houses. The movie is to be based on a book proposed by author Ben Mezrich. Mezrich’s previous work, “The Accidental Billionaires: The Founding Of Facebook, a Tale Of Sex, Money, Genius and Betrayal,” was adapted into the motion picture “The Social Network.” The title to his planned latest book offering is called “The Antisocial Network ,” said the report, quoting sources familiar with the development. The book is expected to go out to publishers later this February, it said. However, it is not yet clear what shape or structure the movie will take. MGM’s Michael DeLuca will produce the film. DeLuca also produced the Academy-Aw...
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22.3 million Bitcoin addresses were active during January

On-chain Bitcoin activity surged during January, with more than 22.3 million addresses sending or receiving BTC last month. January was a record month for Bitcoin’s price and network activity, with more than 22.3 million unique addresses actively sending or receiving BTC over 31 days. The milestone was spotted by crypto market data aggregator Glassnode, who tweeted that January had seen the highest monthly number of unique active addresses in Bitcoin’s history: #Bitcoin network activity at ATH. In January, more than 22.3 million unique addresses were active in the network sending or receiving $BTC – the highest monthly number in Bitcoin's history to date Chart: https://t.co/yPPOix0KFx pic.twitter.com/yjWwYbRC98 — glassnode (@glassnode) February 1, 2021 January’s spike in activity beats out the previous record of more than 21 million active addresses from December 2017. Since 2017, the number of unique addresses engaging with Bitcoin has not fallen below 10 million pe...
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Unlicensed crypto exchange operator faces 25 years for laundering $13m

A California resident is expected to plead guilty to charges of operating an unlicensed exchange and laundering more than $13 million. 49-year-old peer-to-peer crypto trader, Hugo Sergio Mejia, has agreed to plead guilty to charges of money laundering and operating an unlicensed money transmitting business. The U.S. Attorney’s Office accuses Mejia of using a suite of limited liability corporations to conceal the true nature of his operations while exchanging cash for Bitcoins over a period spanning more than two years. The complaint accuses Mejia of transferring funds between Bitcoin and U.S. dollars worth at least $13 million for clients from May 2018 and September 2020 using his companies Worldwide Secure Communications, World Secure Data, and The HODL Group. According to the proposed plea agreement, Mejia negotiated with a client who was cooperating with law enforcement to exchange Bitcoin for tens of thousands of dollars in cash between May 2019 and March 2020. Despite the...
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Soaring Sell Orders Contrast Sharply with Bitcoin’s Renewed Bull Run

Alongside the cryptocurrency’s meteoric climb over the back half of 2020 and early 2021, a curious phenomenon has unfolded; heightened profit-taking and conversion to fiat currencies. Data collected by Simplex, a fiat-crypto gateway, underscores this seemingly paradoxical development. A Curious Race to Convert Crypto to Fiat Has Accompanied Bitcoin’s Latest Drive Higher Sharing exclusive data with Bitcoin.com, Simplex cofounder and chief analytics officer Netanel Kabala says: While the international press coverage of Bitcoin’s rally has caused a swathe of new users to flock to the industry and buy-in, outflows have been equally significant. Of the total amount of cryptocurrency sold in the last six months, 43% was off ramped in December alone. A quick look at Google Trends for the term ‘Bitcoin’ echoes these developments, especially now that new equity instruments like Grayscale Bitcoin Trust and big-name funds like Blackrock are adding exposure and raising crypto awareness...
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SEC charges promoters of Steven Seagal-spruiked ICO from 2018

The SEC has charged three individuals for defrauding investors out of millions through the Steven Seagal-backed Bitcoiin2Gen ICO. The U.S. Securities and Exchange Commission has charged three individuals for various cryptocurrency frauds including the 2018 initial coin offering for the Steven Seagal-promoted altcoin , Bitcoiin2Gen. A Feb. 1 SEC announcement estimates that Bitcoiin Gen founder John DeMarr, Start Options founder Kristijan Krstic, and promotor Robin Enos duped investors out of more than $11 million through two fraudulent and unregistered securities offerings from December 2017 until May 2018. The SEC alleges that Krstic and DeMarr first spruiked Start Options’ purported crypto asset mining and trading platform in December 2017 and January 2017, falsely claiming it was “the largest Bitcoin exchange in euro volume and liquidity” at the time. From January until May of 2018, the trio then promoted Bitcoiin2Gen’s ICO , with the SEC accusing the individuals of knowingly d...
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USDC on exchanges doubled in January while Tether's dominance fell to new lows

USD Coin continues to capture stablecoin market share, with Tether’s stable token dominance falling below 75% for the first time ever. The sands are shifting in the stablecoin ecosystem, with Circle’s USD Coin quickly eating into the dominance of the sector’s leader, Tether. According to a Feb. 1 report from Glassnode, the amount of USDC on exchanges increased by more than 112% in January alone, growing from $431 million to over $915 million. Since the beginning of the year, roughly $1 billion worth of new USDC has been minted — of which more than 90% has been sent to centralized exchanges. With nearly half a billion worth of USDC making its way onto exchanges in a single month, Glassnode speculates that traders are planning to mobilize the tokens to buy up any forthcoming dips in the crypto markets: “This high figure should increase investors' confidence in any dips being quickly bought up, making it a bullish signal.” USDC’s January growth may have been bolstered by Circ...
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US Federal Reserve Seeking Manager to Research CBDCs and Stablecoins

The U.S. Federal Reserve (Fed) has posted a job advertisement that seeks to hire a role related to stablecoins and central bank digital currencies (CBDC). The Fed is looking for a research manager to join its team to assess the “benefits and risks” of digital assets. The Role Is Part of the Fed’s Digital Innovation Policy Per the Linkedin job posting , the Federal Reserve Board expects the selected candidate to manage the “Digital Innovation Policy Program.” The department oversees “all aspects of a program focused on emerging issues at the intersection of technology and payments.” The Fed highlights in the post, the “changing nature” of payment platforms in a digital environment. However, the role is not limited to doing in-depth research on how digital assets could benefit the economy. In fact, the U.S. Federal Reserve is aiming with the research manager of the Digital Innovation Policy Program to address “regulatory framework for emerging payments platforms” issues. The job ad...
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Senator to launch Financial Innovation Caucus to educate lawmakers on crypto

Cynthia Lummis, the first U.S. senator to own Bitcoin, will launch a Financial Innovation Caucus to educate her fellow-senators about Bitcoin and crypto assets. Senator Cynthia Lummis, the first senator in the history of the United States to own Bitcoin, has revealed plans to launch a Financial Innovation Caucus to educate her fellow senators on cryptocurrency and digital assets. Appearing on Anthony Pompliano’s podcast on Feb. 2, Lummis announced her intention to establish the caucus, stating: “We hope to use it as a springboard to educate members of the U.S. Senate and their staff about Bitcoin specifically, but about other opportunities for cryptocurrency and financial innovation and blockchain.” Lummis stated the caucus will first work to fight the false narrative about digital assets and crypto being used for money laundering, noting that research from blockchain forensics firm Chainalysis indicates “cryptocurrency-related crime is smaller than criminal activity with cash.”...
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CryptoQuant CEO says Coinbase Bitcoin outflows are a ‘bullish signal’

The CEO of CryptoQuant says a recent 15,200 BTC outflow at Coinbase is a sign that institutions are accumulating for the next Bitcoin bull break. Recent Bitcoin ( BTC ) outflows from Coinbase are reminiscent of the “ proof-of-keys ” days and could be a sign of a bullish future , according to CryptoQuant CEO Ki Young Ju. Data from the cryptocurrency analysis firm shows that more than 15,200 BTC, currently worth over $515 million, were withdrawn from Coinbase on Jan. 31. BTC outflows from Coinbase. Source: CryptoQuant According to Ki Young Ju , the withdrawal “went to custody wallets that only have in-going transactions,” and was likely an “OTC deal from institutional investors” based on several identifiers. He also pointed to the fact that the split of a 15,000 BTC wallet into wallets containing 1,000-5,000 BTC increases security costs. Furthermore, most of the internal transfers are done with round amounts, like 1,000 to 5,000 Bitcoin, while this transfer included odd groupings...
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CryptoQuant CEO says Coinbase Bitcoin outflows are a ‘bullish signal’

The CEO of CryptoQuant says a recent 15,200 BTC outflow at Coinbase is a sign that institutions are accumulating for the next Bitcoin bull break. Recent Bitcoin ( BTC ) outflows from Coinbase are reminiscent of the “ proof-of-keys ” days and could be a sign of a bullish future , according to CryptoQuant CEO Ki Young Ju. Data from the cryptocurrency analysis firm shows that more than 15,200 BTC, currently worth over $515 million, were withdrawn from Coinbase on Jan. 31. BTC outflows from Coinbase. Source: CryptoQuant According to Ki Young Ju , the withdrawal “went to custody wallets that only have in-going transactions,” and was likely an “OTC deal from institutional investors” based on several identifiers. He also pointed to the fact that the split of a 15,000 BTC wallet into wallets containing 1,000-5,000 BTC increases security costs. Furthermore, most of the internal transfers are done with round amounts, like 1,000 to 5,000 Bitcoin, while this transfer included odd groupings...
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Robinhood users are still limited to one GameStop share

As the U.S. SEC looks into how Robinhood has handled GameStop trading, the platform has narrowed its list of restricted stocks. Troubled stock trading app Robinhood has been narrowing the list of restricted stocks on its platform, but is still keeping major restrictions on shares like GameStop (GME).  According to its website , Robinhood has adjusted its list of restricted stocks to eight shares including GME, AMC, BlackBerry, Express, Genius Brands International, Koss, Naked Brand Group and Nokia. Robinhood previously restricted trading for as many as 50 shares on Jan. 29, CNBC reported . As per the new restrictions, Robinhood users can still only buy one share of GameStop alongside five options contracts. AMC trading is capped at 10 stocks and options contracts. Source: Robinhood Robinhood users who already hold a greater number of shares or contracts will have to sell their holdings in order to open more positions, the firm said: “If you already hold a greater number of...
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Digital art project sells out $10M in NFTs in four days

Early adopters have scooped up over 15,300 Hashmask NFTs as one "card" has gone on sale for 97 ETH. Hashmasks, a new non-fungible token project has raised over 7,600 ETH (about $10 million) from the sale of more than 15,300 digital collectible cards. The owner of Hashmasks #1 has sold his card named after former United States President Donald Trump for about 97 Ether (ETH ) which amounts to over $126,000 at the current Ether price. Hashmasks #1 was acquired for 0.1 ETH according to the collection timetable on the project’s website meaning that the original collector has earned a 96,900% profit on the initial investment. As of the time of writing, it now costs 1.7 ETH to buy a Hashmask with only about 730 left at that price. The last two price epochs will see the remaining NFTs be available for 3 ETH and 100 ETH respectively. The project has already raised over $10 million from the sale of more than 15,000 Hashmasks. Each Hashmask is reportedly designed to be a unique ...
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Mark Cuban thinks Wall Street stands no chance against digital natives

The entrepreneur says that old-school investors are getting their “ass kicked” by the “Store of Value Generation.” Entrepreneur and Dallas Mavericks owner Mark Cuban has weighed in on the recent clash between Wall Street and the r/Wallstreetbets Reddit community. In a Jan. 31 blog post , Cuban suggested that the old-school investment community is currently taking a kicking from what he describes as the “Store of Value Generation.” These millennials have developed a greater understanding of the value of digital assets, having been brought up in a world where music was more often shared as a digital file than a physical object. Blockchain technology, nonfungible tokens and smart contracts now allow any asset which can be represented digitally to act as a store of value, with provable scarcity and without many of the downsides of physical collectibles: “This generation knows that a smart contract and the digital good it reflects or a CryptoAsset are a better investment than old sch...
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Wallstreetbets and GameStop saga set for Hollywood treatment in new film

A major Hollywood studio has won the rights to turn the r/Wallstreetbets saga into a movie — less than a week after the GameStop short squeeze. The r/Wallstreetbets saga which saw a group of Redditors join forces to extract billions from Wall Street hedge funds is set to be turned into a movie. As reported by Deadline on Jan. 31, a newly proposed book by The Social Network author, Ben Mezrich, was subject to a bidding war between major Hollywood studios, with Metro-Goldwyn-Mayer winning out in the end. The project will reunite Mezrich with MGM producer Michael DeLuca, who also produced the Academy-Award winning film  The Social Network , which told the story of the rise of Facebook founder Mark Zuckerberg. No details have yet been released regarding the shape the film will take, but it is expected to focus on the recent “short squeeze” orchestrated by members of the r/Wallstreetbets subreddit. The film will perhaps benefit from the presence of major cryptocurrency figures, ...
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Former Bank of China exec joins BitMEX operator as non-executive board director

Once reportedly the highest-paid executive at the Bank of China, Wai Kin Chim has joined BitMEX’s parent firm as an independent non-executive board director. BitMEX’s parent company 100x Group has hired a financial veteran with a professional background including the Bank of China. According to a Feb. 1 blog post on BitMEX, 100x has appointed former Chinese banker Wai Kin Chim as its new independent non-executive board director. A non-executive board member participates in policymaking and planning decisions at a firm, as well as monitoring the executive directors and acting in the interest of shareholders. However, they are not part of the executive team.  Best known for his chief credit officer position at the state-owned commercial bank, Bank of China, Chim brings more than 30 years of financial expertise including international banking, compliance, corporate governance and risk management. The exec also held senior positions at major financial institutions like Standard ...
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XRP Displaces Polkadot Token After Price Soars 100% in 48 Hours: Token Next Pump Target for Satoshistreetbets Traders

In a surge reminiscent of dogecoin’s recent rally, the value of the XRP token soared by more than 100% in just 48 hours. After starting the day at $0.29 on January 30, data shows that the token peaking at just above $0.67. At the time of writing, XRP is trading at around $0.66   As shown on markets.Bitcoin.com , after this price surge, the market capitalization of XRP went up to almost $28 billion, a figure close to double that of Polkadot. This means XRP has now reclaimed its position for now as the fourth highest-ranked crypto. Similarly, data from messari.io shows that XRP peaked at $0.68 on February 1.   With the token issuer Ripple Labs facing legal challenges , XRP ’s unexpected price surge might lend credence to reports that an offshoot of the Wallstreetbets (WSB) is helping to pump the crypto. Already, this movement of retail traders known as Satoshistreetbets has received partial credit for dogecoin’s recent meteoric rise. Buoyed by Wallstreetbets’ Game...
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CEX.IO LOAN Experiences Massive Institutional Demand With Over $100 Million of Loan Requests

PRESS RELEASE. Crypto-backed lending service CEX.IO LOAN that launched in October 2020 in select global jurisdictions, has been experiencing major demand, receiving over $100 million worth of loan requests to date. While the service has been widely popular among retail investors, most of the platform’s loan requests came from institutional investors. According to CEX.IO LOAN, such an increase in demand can be attributed to the institutionalization of the cryptocurrency industry. Institutional investors, who have cryptocurrencies in their possession, regard it as a potential collateral for borrowing funds and actively utilise it as such. The borrowed funds are then used for further investment purposes. In addition to featuring cutting-edge security and advanced anti-fraud measures, CEX.IO Group operates a regulated service, which has been licensed as a Distributed Ledger Technology (DLT) provider by the Gibraltar Financial Service Commission (GFSC) since last year. In addition to t...
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Elon Musk, Bitcoin and the Reddit raiders: 6 things to watch for BTC price this week

A casual vote of confidence from the world's richest man excites pundits but fails to produce a BTC price pump — could that be about to change? Bitcoin ( BTC ) starts a new week with $30,000 intact and a message of support from the world’s richest man — what can we expect next? As trading resumes around the world, the largest cryptocurrency is still lacking decisive momentum up or down. Cointelegraph takes a look at five factors which could play a part in shaping Bitcoin price trajectory in the coming days. Stocks wary of "Reddit raiders" Equities began Monday with volatile behavior after seeing their worst performance since October last week. In what is likely to become a continued narrative, markets are still feeling the impact of a retail investor revolt which turned sour after regulators and trading platforms stepped in to stop them from participating . While involving United States companies, the knock-on effects have been felt around the global economy, wit...
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Kiss rocker Gene Simmons is bullish on DOGE and XRP

Kiss frontman and a known crypto fan Gene Simmons is bullish on several cryptos including Bitcoin, Ether, XRP and Dogecoin. Gene Simmons, a rock and roll legend and a known fan of cryptocurrencies like Bitcoin ( BTC ), has reaffirmed his bullish stance on crypto by purchasing several cryptos. The Kiss frontman said on Feb. 1 that he now owns several cryptocurrencies including XRP and Dogecoin ( DOGE ). Simmons did not hint at how much he invested and noted that his statement is not a recommendation.  Not recommending any of these to anyone. But yes, I also bought Dogecoin, XRP and others. Make of it what you will. — Gene Simmons (@genesimmons) February 1, 2021 Simmons claimed that he has also bought and is still planning to purchase major cryptocurrencies like Bitcoin, Ether ( ETH ) and Litecoin ( LTC ).  Simmons has emerged as a major celebrity voice supporting cryptocurrencies. In 2017, Simmons said that he was interested in Bitcoin as part of his investment str...
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Elon Musk: Bitcoin is on the verge of seeing broader acceptance by finance

Bitcoin is about to see broader adoption in the traditional finance world, says the world's richest man. Bitcoin ( BTC ) is on the verge of seeing broader acceptance, Elon Musk, the CEO of Tesla, said in a Clubhouse conversation on Feb. 1. Clubhouse is an exclusive audio chat social media platform that is invite-only. Members can join various conversations, akin to an online private conference. "I am late to the party but I am a supporter of #Bitcoin ." - Elon Musk — Dan Held (@danheld) February 1, 2021 Elon Musk publicly comments about Bitcoin During the conversation with Andressen Horowitz and other prominent investors, Musk was asked about his thoughts on Bitcoin. On Jan. 29, Musk put the word “Bitcoin” in his Twitter bio, causing the price of BTC to rally by more than 14% in 30 minutes. After the occurrence, Bitcoin investors and enthusiasts were highly anticipating positive comments about crypto, in general, from Musk. When asked about Bitcoin, Musk said...
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