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Showing posts from February 2, 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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AdGram Helps Brands Leverage Cryptocurrencies in the Advertising Market

PRESS RELEASE. The AdGram service was founded a year ago and is currently the largest advertising exchange in Telegram. AdGram helps brands place large advertising volumes in channels and groups quickly and efficiently. Channels and groups benefit from expansion of their audience, it is easy to find advertisers and increase the earnings from advertising placements via AdGram . Over the last 12 months, the service has gained a huge experience in communications with both advertisers and administrators from different countries, which has highlighted issues with settlements in multiple currencies. After overcoming these obstacles, it was decided that cryptocurrency could be the key to solving this problem. With the termination of the Telegram team’s work on the TON project in May 2020 (the messenger lost one of its monetization methods), Free TON was launched which took over the development and popularization of TON Crystal using the open source code from the original TON. The unique...
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Crypto Firm to Launch Polkadot ETP on Swiss Exchange SIX

21Shares AG, a Zurich-based investment provider, is launching what is being dubbed as the world’s first Polkadot exchange-traded product, or ETP. The DOT ETP will be listed on the Swiss exchange SIX on Thursday, February 4, said the company in a statement on Tuesday. DOT is the native token of the Polkadot network. DOT has since been added to 21Shares’ Crypto Basket ETP (HODL), which tracks five major assets including bitcoin ( BTC ) and ethereum ( ETH ). Since its addition on Jan. 29, DOT now accounts for 27% of the product behind BTC at 50%. Hany Rashwan, chief executive officer of 21Shares, said the firm has seen “unprecedented demand” from institutional investors wanting exposure to crypto-assets. He stated that demand for its range of crypto ETPs has soared 500% since the third quarter of 2020, but there has been “a recent surge in interest” for DOT. “After investors purchase their first bitcoins through our ETPs, there is a natural transition to invest in other crypto asse...
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Eth2 becomes third-largest staking network as Ether rallies into new ATHs

With Ether continuing to push into new all-time highs above $1,500, Eth2 now ranks as the third-largest crypto asset in terms of staked assets. The price gains enjoyed by Ether as it hits record highs have propelled Eth2 to rank as the third-largest network by staked capitalization. That’s despite the fact that just 2.09% of Ethereum’s supply is locked up in Eth2 at present. Ether pushed into new record price highs above $1,480 on Feb. 2, with ETH currently testing $1,550 after gaining 12% in 24 hours. ETH/USD since December 2021, 4-hr chart: TradingView With nearly 2.5 million ETH currently locked up, Eth2's staked capitalization equals $3.6 billion. The price gains propelled Eth2 past Avalanche’s $3.4 billion in staked assets, with Avalanche’s staked capitalization representing 69.5% of the Avalanche’s supply. Polkadot is currently the largest crypto asset on the measure, with 60% of its supply locked representing $10.8 billion, followed by Cardano with 71% of its supply...
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Bitcoin price hits $36,800 shortly after Ethereum closes above $1,500

Bitcoin bulls pushed BTC price through a key resistance level just a few hours after Ethereum closed above $1,500. On Feb. 2 Ether ( ETH ) saw its price breakout to a new all-time high at $1,555 as increased activity in the derivatives market provided clear signals that traders were bullish on the long-term prospects of the largest altcoin by market capitalization . Bitcoin price also saw a bullish breakout as it finally crossed above the $35,000 resistance and currently trades for $36,700 ETH/USDT 4-hour chart. Source: TradingView Prominent business personalities like Elon Musk, Michael Saylor and Mark Cuban continued to engage the public with discussions revolving around the benefits of blockchain technology and decentralized finance. In remarks to the reddit group r/Wallstreetbets, Cuban said that "stocks will be on the blockchain in the future.” Circle’s USD Coin (USDC) has now been integrated with the Stellar blockchain , enabling the stablecoin to be transacted on ...
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Supply chain and logistics projects dominate additions to Forbes Blockchain 50

The number of major companies using blockchain for logistical purposes is on the rise. More than half of companies added to the Forbes Blockchain 50 list for the first time this year are using tblockchain to resolve logistical issues faced in their line of business.  Eleven of the 21 new entrants added to the annual tally are applying blockchain and DLT-based solutions to problems regarding supply chains, product tracking and shipping information. According to Forbes , “hundreds of sizable companies are now using Bitcoin and its underlying technology to make their operations more efficient.” “Most companies on the Blockchain 50, however, are not Bitcoin speculators but rather are looking to employ the technology underlying the cryptocurrency in innovative ways.” Some of the bigger companies in this category include Boeing, which is using a blockchain-enabled air traffic control system for drones; Oracle, which operates a maritime shipping consortium with over 300 customers; ...
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Coin Metrics co-founder takes aim at WSJ's Tether FUD

Reputable data analyst fires back at "wild theories" about Tether reported by the Wall Street Journal. The co-founder of crypto data and insights firm Coin Metrics has fired back at yet another article in mainstream media claiming that the “Bitcoin bubble” has been driven by Tether. Nic Carter, a former Fidelity crypto asset analyst and Castle Island Ventures partner, slammed the Wall Street Journal article titled “Behind the Bitcoin Bubble” by Andy Kessler, alleging that it verged on “journalistic malpractice”. “Normally, if you are a columnist writing in one of the most respected financial publications, you might try and evaluate the data behind that claim, instead of just uncritically accepting it. But Mr. Kessler did no such thing. He just blindly repeated a fanciful claim from an anonymous blogger in order to imply that Bitcoin’s price was somehow dependent on Tether.” The award-winning WSJ writer based some of his fairly extensive criticism on the work of a blogger...
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Asset Manager Values Bitcoin at $500K, Expects BTC to Be Worth More Than Gold, Sees Massive Institutional Interest

One River Asset Management’s CEO says his firm now holds bitcoin worth “well over” $1 billion. He revealed that the institutional interest in bitcoin is “astounding,” noting that almost all major institutions in the U.S. are having discussions about the cryptocurrency. He believes that bitcoin will be worth more than gold, placing its value at approximately $500K. One River Asset Management’s CEO Is a Bitcoin Bull The CEO and co-founder of One River Asset Management, Eric Peters, shared his view on bitcoin at length in an interview with Bloomberg last week. Firstly, he revealed that his asset management firm now holds bitcoin “well in excess of a billion dollars at this point.” He then discussed the case for institutional investors to own cryptocurrencies currently. “We are in a unique period right now,” Peters began. It is the period seen many times throughout history where “governments become extremely indebted, monetary policy becomes less effective, and ultimately governments ...
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1,400 sign up for MicroStrategy's corporate Bitcoin-buying bootcamp

MicroStrategy, the business intelligence firm that has enjoyed 135% gains on the $1 billion in BTC it purchased last year, is hosting a webinar on corporate Bitcoin strategy. Leading global business intelligence firm MicroStrategy is hosting an online seminar this week to explain the legal considerations for firms seeking to integrate Bitcoin into their businesses and reserves. A Feb. 3 tweet from MicroStrategy CEO, Michael Saylor, said that representatives of more than 1,400 firms have already signed up for the event — which is dubbed “Bitcoin for Corporations: Legal Considerations.” If you are interested in the legal considerations firms face while integrating #Bitcoin into their corporate strategy, you are not alone. We have professionals from more than 1400 firms joining us tomorrow for this discussion. There is still time for your legal team to attend. https://t.co/fid9nrZUfP — Michael Saylor (@michael_saylor) February 2, 2021 The seminar will take place on Feb. 3 and Feb...
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Miami mayor says city employees should be able to take their salaries in Bitcoin

Miami wants to overtake Silicon Valley as the most Bitcoin-friendly place in the U.S. Miami city employees could soon choose to get their salaries paid in Bitcoin rather than USD. In an interview with Forbes, Mayor Francis Suarez said tangible paths to expand Bitcoin's adoption throughout the city included enabling city employee salaries to be paid in BTC. Major figures in the cryptocurrency world have responded positively to the idea, with Twitter and Square CEO Jack Dorsey calling it “smart” on Twitter. Smart https://t.co/wxsQkbfPef — jack (@jack) February 2, 2021 Germini co-founder Tyler Winklevoss stated that the mayor is “leading the way for governments and Bitcoin.” Mayor Suarez told Forbes that due to the rise in crypto’s popularity among citizens, he wants to do everything he can to make Miami a Bitcoin-friendly city. Other proposals include allowing local fees and taxes to be paid in Bitcoin and certain other cryptocurrencies, as well as investing some of the ci...
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Pioneering Aussie engineer refinances home loan using DeFi in a single day

After hitting a wall with banks, a borrower has turned to DeFi to pay off his mortgage. A software engineer has taken decentralized finance to a new level of practicality, by paying off his mortgage with Commonwealth Bank of Australia and refinancing the loan through fixed-rate lending protocol Notional Finance. The move marks a major step for the fledgling DeFi sector and more fixed-rate lending protocols in DeFi may attract additional users seeking mostability in longer-term investments and loans, such as mortgages. Currently, the ecosystem is largely populated by yield farmers looking for quick gains on their crypto collateral. The DeFi engineer attempted the process through TradFi by seeking an offset loan, which directs a savings account’s interest towards paying down a mortgage. Speaking to The Defiant , however, the borrower stated that banks are very cautious about lending in times of economic uncertainty, especially to those that are self-employed. He added that he had b...
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LUNA doubles in price after $25 million investment by Galaxy Digital

The Terra Protocol is an up-and-coming crypto platform for DeFi and payment projects, spurred on by working products and a growing audience for DApps based on its technology. LUNA, the native coin of the Terra blockchain, shot up another 37% to $2.46 on heavy trading volumes today, continuing a parabolic climb that started in mid-November.  The coin is currently up 100% in price since news broke one week ago that Mike Novogratz’s Galaxy Digital made a $25 million investment in Terraform Labs, the Seoul-based company that manages development of Terra. Terra is an ambitious stablecoin project from Korea working to combine the stability of fiat currency with the non-censorable nature of cryptocurrency. Terra-based mobile payments DApp CHAI is also growing in popularity. It cuts down on fiat payment processing fees and provides near instant settlements with numerous Korean merchants. According to stats tracker dapp.com , the DApp recently surpassed 2.3 million unique users, wit...
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Bitcoin and Ethereum held on exchanges drops to a multi-year low, here’s why

Lucrative DeFi investing opportunities and increasing participation from institutional investors are driving the amount of Bitcoin and Ethereum held on exchanges to new lows. Recent global developments have put a spotlight on the cryptocurrency sector as people across the world begin to question the decision making process of governments and central banks.  Multiple metrics like the increasing amount of Ether ( ETH ) and Bitcoin (BTC) locked in DeFi, soaring transaction and on-chain activity and the plummeting BTC and Ether reserves of top exchanges show that investors are becoming increasingly interested in cryptocurrency. Data from CryptoQuant, an on-chain analytics firm, shows that as Ether ( ETH ) established a new all-time high above $1,500 on Feb. 2, the amount of Ether held on all centralized exchange’s reserves continued to drop to new lows as token holders withdrew their coins . Price vs. all ETH reserves on exchanges. Source: CryptoQuant Many analysts believe tha...
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Crypto Asset Manager Bitwise Files to Publicly Trade Bitcoin Fund

On February 2, the crypto asset manager, Bitwise Asset Management, announced it had filed a Form 211 with the U.S. Financial Industry Regulatory Authority (FINRA). If the proposal is approved Bitwise will be able to deploy its shares publicly via over-the-counter (OTC) desks and secondary markets. Bitwise Plans to Compete With Grayscale’s Bitcoin Trust The popular cryptocurrency index fund provider, Bitwise Asset Management , hopes to get regulatory approval from America’s financial regulators in order to publicly list the Bitwise Bitcoin Fund on OTC markets. The Bitwise Bitcoin Fund (BBF) if approved, will follow the public quotation of the firm’s Bitwise 10 Crypto Index Fund that recently obtained regulatory approval. The BBF will trade on OTCQX Best Market and currently Bitwise hasn’t chosen a ticker for the fund yet. Bitwise President Teddy Fusaro explained during the announcement that the fund has been managed since 2018 and the company looks forward to an OTCQX public quotat...
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Brave New Coin partnership will help Nevada crypto users reach new 'high'

Cannabis users in the state may soon be able to pay for their green without cash. Digital asset market data firm Brave New Coin may soon be helping Nevada residents buy marijuana using crypto. According to Brave New Coin, blockchain firm Multichain Ventures will be using the company’s data and pricing infrastructure to fulfill regulatory requirements for cannabis businesses in the state of Nevada. Recreational and medical marijuana has been legal in Nevada since 2016, but a bill introduced to the state’s legislature two years ago seeks for registered cannabis businesses to have a cashless payment system. The bill says this measure is intended for regulators to "monitor and facilitate the financial transactions of marijuana establishments, medical marijuana establishments, consumers and holders of registry identification cards." In addition, a cashless system would "reduce the risk to the safety and welfare of the public," according to the bill. Though the legi...
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Winklevoss’ Gemini crypto exchange launches ‘Earn’ offering

Gemini’s new interest-earning program allows customers to earn interest on more than 30 crypto assets supported by the platform. Gemini cryptocurrency exchange has launched an interest-earning program for customers in the United States. Dubbed Gemini Earn, the program lets customers earn up to 7.4% annual interest on all cryptocurrencies supported by Gemini, the firm announced Tuesday. The platform supports over 30 cryptos like Bitcoin ( BTC ), Ether ( ETH ), Litecoin ( LTC ), Bitcoin Cash ( BCH ), Zcash ( ZEC ) and others. The program is immediately available for select Gemini customers, while a full-scale rollout is scheduled for early February. Gemini chief operating officer Noah Perlman told Cointelegraph that interest rates for each cryptocurrency are based on supply and demand in the market for borrowing that crypto. Interest is compounded and paid daily, with earnings being generated in the same cryptocurrency as the deposited funds. Gemini Earn will be run as part of the G...
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Robinhood reportedly shelves IPO plans in wake of GameStop PR disaster

An IPO is reportedly off the cards for now as Robinhood continues to deal with the fallout from the GameStop saga, and the resultant plunge in public confidence. Trading app Robinhood may have put its plans for an initial public offering on hold after public opinion turned against the company in the wake of its response to the short squeeze on GameStop (GME). According to Fox Business Network’s Charles Gasparino, sources inside Robinhood say the company’s only focus is surviving the fallout from the drama it currently finds itself engulfed in, and will pause its plans for an IPO launch for now.  SCOOP: Ppl inside @RobinhoodApp tell @FoxBusiness plans for an IPO are on hold to focus on surviving the current drama over trading of stocks and settlement issues. Execs say they have access to even more capital than additional amounts raised today. More @TeamCavuto 1230pm — Charles Gasparino (@CGasparino) February 1, 2021 As reported by Techcrunch , Robinhood CEO Vlad Tenev was...
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Robinhood CEO to reportedly testify before US House committee over GameStop

Regulators want to know the details of the GameStop short squeeze. Robinhood CEO Vlad Tenev will reportedly testify before the United States House Financial Services Committee over the firm’s role in the volatile trading of GameStop and other volatile stocks. According to a report by the American political publication Politico, Tenev is expected to participate in a virtual hearing headed by Representative Maxine Waters (D-Calif.) on Feb. 18. Politico’s report cited anonymous people familiar with the matter. Waters officially announced  the Financial Services Committee’s plans to hold a GameStop-related hearing on Feb. 18. Entitled “Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide,” the hearing will focus on recent market volatility issues involving GameStop and other stocks. “I am concerned about whether or not Robinhood restricted the trading because there was collusion between Robinhood and some of the hedge funds that were inv...
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US Resident Operated Illegal Bitcoin Exchange Business – Faces 25 Years in Jail

An Ontario man based in San Bernardino County of the U.S. has agreed to plead guilty to federal charges of illegally operating a bitcoin to cash exchange business. According to the U.S. Department of Justice (DOJ), the man, Hugo Sergio Mejia, 49, operated the unregistered exchange business between May 2018 and September 2020. Accordingly, Mejia now faces “a statutory maximum sentence of 25 years in federal prison” once he pleads guilty. In a statement announcing the charges, the DOJ says Mejia had, as part of his plea agreement, admitted that he had not “registered his business with the FinCEN.” The DOJ explains in the statement that during the “nearly 2½-year period” Mejia had managed to exchange at least $13 million. However, as part of efforts to conceal his true activity, Mejia also admits that he created companies specifically for this purpose. Further, the DOJ statement adds: Mejia advertised his business online and was referred to customers by word of mouth, communicating ...
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21Shares to list Polkadot ETP on Swiss SIX exchange

21Shares’s Crypto Basket ETP has also replaced Bitcoin Cash with Polkadot. 21Shares, a major provider of cryptocurrency exchange-traded products, or ETP, is launching the world’s first Polkadot (DOT) ETP. The new product, DOT ETP, will be listed on the Swiss SIX exchange on Feb. 4, 2021, 21Shares announced Tuesday. The new ETP comes shortly after Polkadot was added to 21Shares’ major ETP product Crypto Basket ETP (HODL) on Jan. 29. Tracking five major cryptos like Bitcoin ( BTC ) and Ether ( ETH ), HODL has removed Bitcoin Cash ( BCH ) and is now listing Polkadot as the second-largest constituent after Bitcoin. According to HODL ETP data from MVIS indices , Polkadot now accounts for about 27% of the product, while Bitcoin makes up around 50% of the ETP. A spokesperson for 21Shares told Cointelegraph that the company does not make decisions on adding or deleting a certain asset from the HODL ETP. The representative stated that such decisions are up to MV Index Solutions. “As an ...
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Grayscale may jumpstart the next phase of the Bitcoin bull run tomorrow

A release of funds from lock-up traditionally heralds the start of price upside and ends consolidatory phases, data shows. Bitcoin ( BTC ) may have traded sideways for much of last month thanks to Grayscale, but the status quo will soon change. According to data from on-chain analytics resource CryptoQuant, the price premium of the Grayscale Bitcoin Trust (GBTC) just hit its lowest since April 2019. Grayscale lock-up ends Wednesday Grayscale has made the headlines frequently this year thanks to record BTC purchases and record demand, but despite the inflows, BTC/USD has not continued to gain. As February begins, the Trust’s purchase premium is at around $6.50, having previously been as high as $40 over the course of its existence. This historically coincides with meandering price direction, while large premiums equal large upside moves for Bitcoin. In late December, a dedicated article in technology magazine Hackernoon explained the phenomenon as being tied to releases of GBTC...
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