Skip to main content

Posts

Showing posts from February 12, 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...
Post a Comment
Read more

Amazon Is Working on Digital Currency Solutions— Pilot Project Set to Launch in Mexico

The e-commerce giant is preparing to explore the crypto business, as a recent job listing suggests. Amazon is looking to launch a pilot project in Mexico that seeks to build a team that develops new solutions based on “digital currencies.” E-Commerce Giant Amazon Seeks to Target Customers in ‘Emerging Markets’ According to a job posting , Jeff Bezos’ multinational firm was on the hunt this week for a Software Development Manager for the division of “Digital and Emerging Payments.” The job role has been reportedly filled as the offer is no longer available as of press time. Amazon stated in the job ad that the new payment product will be deployed on an initial stage in Mexico. One part of the description reads as follow: This product will enable customers to convert their cash in to digital currency using which customers can enjoy online services including shopping for goods and/or services like Prime Video. The role requires an expert in computer science or engineering, with ex...
Post a Comment
Read more

More harm than good? Nigerian crypto users in disbelief over CBN ban

Crypto and blockchain stakeholders in Nigeria have criticized the central bank’s decision to ban banks from servicing crypto firms. The Central Bank of Nigeria has banned banks from servicing crypto exchanges in the country in a move that echoes actions taken by its Indian counterpart back in 2018. Reactions to the news among the political class have been divided among ethnic and geopolitical lines, with the more progressive elements calling for a nuanced approach by the apex bank. In November 2020, Nigeria’s gross domestic product declined for a second successive quarter, plunging the nation’s economy into another recession — the second in the space of five years. According to the Nigerian Bureau of Statistics, 26 out of the 36 Nigerian states did not receive any foreign investments in 2020. Even before the onset of the coronavirus pandemic, Nigeria’s economy had been battered under the perceived mismanagement and ineptitude of the current administration. However, the country’s c...
Post a Comment
Read more

South Korean Court Orders Bithumb to Compensate Users for an Accidental BTC Withdrawal Case in 2018

A South Korean court ordered one of the biggest domestic crypto exchanges to compensate victims of an “accidental withdrawal” incident in 2018. Bithumb has been ordered to pay customers who withdrew their bitcoin funds to an unknown wallet. Funds Ended Up in a Wallet With an Unknown Owner According to Fn News , six Bithumb customers brought the case before the 15th Division of the Civil Agreement of the Seoul Central District Court. They alleged that the exchange provided them with misinformation regarding withdrawing funds in November 2018. Due to the alleged chain of errors, users sent the bitcoin ( BTC ) to an unknown wallet. Victims wanted to transfer their cryptos from the Bithumb wallet to a third-party one through a function offered by the exchange. But per Judge Min Seong-cheol, the operation went wrong, as Bithumb’s system didn’t transfer the funds to the third-party wallet. In reality, their funds ended in a wallet whose owner’s identity is still unknown, according to th...
Post a Comment
Read more

Colombia’s Financial Superintendent Approves Nine Crypto Platforms to Work With National Banks

In Colombia, the entity managed by the Ministry of Finance and Public Credit, the Financial Superintendence of Colombia (Superfinanciera) has revealed the authorization of alliances between Colombian banks and digital currency exchanges. So far, Colombia’s financial department has approved nine partnerships between exchanges and national banks in order to make cryptocurrency operations more accessible to citizens. Colombia’s Financial Superintendent Wants to Spread Crypto Accessibility The Republic of Colombia in South America has been friendly toward crypto assets like bitcoin ( BTC ) and other digital currencies over the years. More recently, during the first week of January 2021, the Superintendence of Corporations in Colombia explained in an official circular that local firms can leverage capital to purchase bitcoin. Now the Financial Superintendence of Colombia (Superfinanciera) or FSC has revealed a trial between regulated financial institutions in the country and digital cu...
Post a Comment
Read more

Key Bitcoin price metric signals traders are positioned for $50K BTC

A key Bitcoin price metric is signaling that top traders are comfortably positioned and expect BTC to secure the $50,000 level in the short term. Bitcoin ( BTC ) price posted a 25% gain after this week’s news of Tesla’s $1.5 billion BTC investment came out. Prior to this reveal, BTC was lagging behind Ether’s ( ETH ) performance by 7.5% but the numerous bullish events of the past few days helped BTC to hit a new all-time high at $48,900. Previous to Tesla’s announcement, BTC price was trading in the $30,000 to $41,500 range for nearly 3 weeks and once the price broke out one would expect pro traders and arbitrage desks to follow the bullish trend. Rather than flipping long, many of the top traders opened short positions as BTC commenced its 25% move. This seems risky given that this week Bitcoin received praises from JPMorgan’s co-president and regulators approve a BTC ETF approval in Canada . Bitcoin and Ether USD prices at Bitstamp. Source: NYDIG Digital Assets Data Histori...
Post a Comment
Read more

2021 Crypto Market Stats Show a Number of Other Coins Gained More Than Bitcoin

During the end of 2020 and into 2021, a great number of digital assets have seen significant gains and the bearish season that followed 2017 has turned its course. Bitcoin touched an all-time price high on February 11, 2021, reaching $49k per coin and three-month stats show bitcoin is up 198%. Despite the phenomenal 90-day gains, numerous alternative crypto assets have seen much larger increases. The infamous dogecoin, for instance, has spiked 2,322% during the last three months. Crypto Asset Market Performances in 2021 Bitcoin and the crypto economy has steadily surpassed the $1 trillion valuation mark and on Friday, February 12, 2021, the crypto market capitalization of all the coins in existence is worth $1.41 trillion. The day prior, bitcoin ( BTC ) reached another all-time high (ATH) on Thursday touching approximately $49,000 per unit. BTC has seen some significant gains this year, and the crypto asset has increased 149.16% since the ATH in 2017. Bitcoin has captured 198% in ...
Post a Comment
Read more

Massive 70 MW Bitcoin Mining Rig Shipped to Russia

Big moves are happening within the bitcoin mining industry in Russia. An unnamed miner sent what seems to be the largest single batch of mining equipment to the country. Delivery Took Place at the End of 2020 According to Kommersant , the unknown miner shipped almost 20,000 devices on 14 trucks, which have a total power capacity of 70 megawatts. The media outlet’s estimations show that the hardware shipped from Asia is worth approx. between $40 million and $60 million. The Bitriver-powered data center is located in Irkutsk, the largest city of Irkutsk, in the Siberian Federal District, with over 600,000 residents. Citing Igor Runets, CEO and founder of Bitriver data center, says that the delivery took place at the end of 2020, specifically in December. Right after the shipping, the data center’s staff installed the rigs to mine bitcoin ( BTC ). Hardware From Four Major Manufacturer Brands Runets also added that they deployed a separate hangar in Bratsk, in the same region...
Post a Comment
Read more

Nigeria's SEC suspends planned crypto regulations amid central bank ban

Nigeria’s securities regulator has backed the central bank’s crypto ban by suspending its planned regulatory framework for digital assets. The Nigerian Securities and Exchange Commission has put its plans for regulating cryptocurrencies on hold following the recent ban by the central bank prohibiting financial institutions from servicing crypto exchanges. In an emailed statement quoted by the Daily Post on Friday, the SEC stated : “For the purpose of admittance into the SEC Regulatory Incubation Framework, the assessment of all persons (and products) affected by the CBN Circular of February 5, 2021, is hereby put on hold until such persons are able to operate bank accounts within the Nigerian banking system.” As previously reported by Cointelegraph, the commission  recognized digital assets back in September 2020. At the time, the SEC said it was set to create a regulatory sandbox for cryptocurrencies as part of efforts to fully regulate the market. For the SEC, its latest ...
Post a Comment
Read more

Jack Dorsey and Jay-Z to set up 500 BTC blind Bitcoin trust in India, Africa

Just hours after an anonymous source claimed India would issue a blanket ban on all cryptocurrencies, Jack Dorsey and Jay-Z announced a 500 Bitcoin development trust. Twitter CEO Jack Dorsey has announced the creation of a blind Bitcoin ( BTC ) development trust worth 500 BTC ($23.7 million), along with rapper Jay-Z, for teams working on the project in India and Africa. Dorsey revealed the creation of the trust on Feb. 12 while sending out a call for three board members to oversee the blind trust initially. JAY-Z/ @S_C_ and I are giving 500 BTC to a new endowment named ₿trust to fund #Bitcoin development, initially focused on teams in Africa & India. It‘ll be set up as a blind irrevocable trust, taking zero direction from us. We need 3 board members to start: https://t.co/L4mRBryMJe — jack (@jack) February 12, 2021 Dubbed the ₿Trust, the application form for board members reveals the mission statement, “Make Bitcoin the internet’s currency." The Twitter CEO’s tweet ...
Post a Comment
Read more

Miami council supports mayor’s move to offer city worker salaries in Bitcoin

The City Commission of Miami is now looking into the feasibility of allowing Miami residents to pay taxes and receive salaries in Bitcoin. Miami Mayor Francis Suarez has proposed an official resolution that would see Bitcoin ( BTC ) become an acceptable payment instrument in various parts of the city's administration. Announcing the news on Twitter, the Mayor said that the city commission has supported the resolution, and is now taking next steps: “I wanna thank the city of Miami commissioners for supporting my resolution, which directs a city manager after analysis to procure a vendor to be able to offer our employees to get a percentage of their salary in Bitcoin; allows our residents to pay for fees in Bitcoin.” The resolution would also put a proposition before the state legislature that, if successful, would see Bitcoin as an acceptable investment for municipal funds. Suarez said, “It’s wonderful to be a very crypto-forward city, and I wanna thank my commission colleagu...
Post a Comment
Read more

Market Cap of Exchange-Issued Tokens Surpasses $43 Billion, Binance’s BNB Token Surges 150%

Buoyed by bitcoin’s recent spike, altcoins including exchange-issued tokens recently made significant gains, while several of these crypto-assets went on to set new all-time highs (ATH). According to Messari data, Binance is leading the pack in this category, after its token went up by more than 150% from $47 on February 1 to an ATH of $148 on February 10. Nevertheless, at the time of writing, the token had retreated and was trading at $123. Centralized Exchange Tokens Lead the Way As a result of this surge, the market capitalization of the BNB token stood at just over $19 billion at the time of writing, while the crypto-asset has now moved up to number 6, as shown by Messari.io top asset rankings. Also, BNB ’s seven-day change of 116% is one of the highest by a centralized exchange. Meanwhile, also seeing similar growth action is Asian crypto platform Huobi whose token touched a new ATH of $13.95 on February 10. After starting the month at $6.54, the token was trading at $12.65...
Post a Comment
Read more