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Showing posts from February 18, 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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Elon Musk: 'Only a fool' wouldn't seek non-fiat investments

With real interest rates trending negative, Tesla’s CEO Elon Musk believes “only a fool” would ignore alternative investment opportunities. On Feb. 19, Musk responded to comments made by Binance CEO Changepeng Zhao to Bloomberg in which CZ expressed his surprise at the Tesla executive’s “gung-ho” pronouncements regarding Dogecoin. Tesla co-founder and hypothetical Dogecoin ( DOGE ) CEO Elon Musk has asserted that “only a fool” would not seek out alternative investments to fiat currency given current interest rates on Twitter today. During the interview, CZ implied that Tesla’s recent decision to invest $1.5 billion or 7.7% of its treasury into Bitcoin ( BTC ) likely evidenced Musk’s deep support for Bitcoin. On Twitter, Musk said , “Tesla’s action is not directly reflective of my opinion. Having some Bitcoin, which is simply a less dumb form of liquidity than cash, is adventurous enough for an S&P500 company.” Responding to the insinuation from Musk that he personally ...
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TimeCoin’s Special Token Sale

PRESS RELEASE. The Special Token Sale of TimeCoin (TMCN) will be launched on February 15th with a 93% discount on the token’s current market value. The token was launched on November 11th, 2020 on BitForex with an IEO, at an initial price of $0.7. However, already after the launch of the IEO it had risen to $11, and has since continued to rise. At the beginning of 2021, it had already risen to $22, while now it is close to $30, with a market capitalization of over $2 billion. The project, TimeCoinProtocol was initially financed by a few investors who invested around $4 million, and only a very limited number of tokens were placed on the market. Now with the Special Token Sale, the tokens will be sold on the OTC market, so as not to increase the selling pressure, after most of the tokens available on the market have been bought back by the project. They will also be made available for trading on other crypto exchanges in the future. So far, no public or private sale of TimeC...
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Gene Simmons says he’s added $300K of Cardano to his bags

Kiss bassist Gene Simmons has again taken to Twitter to shill his crypto holdings, claiming to have now invested in Cardano. The iconic bass player of rock band Kiss and recent recruit to Elon Musk’s “ Dogecoin army ,” Gene Simmons, has announced a six-figure investment into Cardano ( ADA ). On Feb. 19, Simmons revealed on Twitter that he’d bought $300,000 worth of ADA. While emphasizing that he is not a financial analyst — a helpful disclaimer — the rock star said he wanted to share projects he believes in and was definitely not suggesting anyone else should buy ADA: I just bought $300,000 of CARDANO (ADA). I’m not a Financial Analyst and I’m not telling U to buy or not to buy. Simply letting U know what I am doing and what I believe in. Why? Because I believe it’s going up..and it’s always up to you to research & decide. pic.twitter.com/UiIqowJ4pY — Gene Simmons (@genesimmons) February 19, 2021 Cardano founder and Ethereum co-founder, Charles Hoskinson, welcomed Simmons t...
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Tezos Announces Major Upgrade to Improve Network Functionality

Open-source platform Tezos has just announced Edo, its fifth and most ambitious upgrade to its blockchain to date. This upgrade will add the Sapling protocol, tickets, and a new Adoption Period to support future upgrades that improve network functionality. Sapling, Tickets, and a New Adoption Period will Bolster Future Upgrades Tezos has been ramping up development activity following the growing hype around its native token XTZ , which has risen nearly 120% year-to-date as of writing. Its last update, Delphi , was released three months ago and cut gas costs by 75%. Tezos says its new Sapling protocol will enable developers to power “new types of applications” by incorporating “voting or supporting asset transactions with selective disclosures.” One-use tickets will act as a ‘convenient mechanism’ to unlock contractual functions, according to Tezos. Besides improving developer efficiency, tickets are designed to encourage more ‘secure and composable contracts’ and issue tokens. ...
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Thailand tourism board targets wealthy Japanese crypto holders

Well-heeled Japanese crypto holders are being targeted by Thailand’s tourism industry. In its latest effort to revive the Kingdom’s pandemic-battered tourism industry, Thailand’s tourism authority is targeting cryptocurrency holders from Japan. The Tourism Authority of Thailand (TAT) wants to establish the country as the first to go out of its way to welcome cryptocurrency holders, specifically those from Japan which it views as a regional hub of crypto activity . The authority has conducted a feasibility study on implementing cryptocurrency payments at tourism destinations. Thailand has been angling for well-heeled tourists ever since the collapse of the industry in the first quarter of 2020 when Asian nations began closing their borders in the wake of the Covid-19 outbreak. According to the Bangkok Post , TAT governor Yuthasak Supasorn said that cryptocurrency could be the key to attracting the high rollers: “If we can prepare the country for the cryptocurrency market, it will ...
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99Bitcoins breathes new life into Dead Coins project

The Dead Coins project has been given new lease of life by BTC education portal 99Bitcoins. Bitcoin education portal 99Bitcoins is the newly appointed undertaker of the cryptocurrency industry. It’s taken over the Dead Coins project, which provides a burial ground for more than a thousand dead cryptocurrencies, and breathed new life into the project by ensuring the list is accurate and by removing joke burials for Bitcoin, Tron, Dogecoin and Tether. Deadcoins.com was started in 2017 to document the demise of the hundreds of altcoins that materialized off the back of the ICO boom that year. 99Bitcoins meanwhile was founded in 2013 to offer a practical and non-technical guide to those new to Bitcoin. The list of dead cryptocurrencies is a nice companion piece to 99Bitcoin’s highly-referenced ‘ Bitcoin Obituaries ’ page which records every time the mainstream media claims that Bitcoin has died. At last count, Bitcoin had died 399 times. The newly cleaned up Dead Coins page is repor...
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Poll finds four in 10 Brits believe the stock market is as risky as crypto

A new poll has found that 42% of Brits believe it is now safe to invest in cryptocurrency. A new poll carried out by Piplsay has found that 41% of Brits now believe there is an equal amount of risk to investing in cryptocurrencies as the stock market. The survey of 6,070 British residents above the age of 18 suggests that adults based in the U.K. are starting to view cryptocurrency and the stock market on equal footing. That said, 45% of respondents still see crypto as the riskier of the two. More than 40% of participants described cryptocurrency as being safe compared to 31% who did not, while the remaining 27% of respondents stated they were unsure as to the security of digital assets. Nearly 30% of respondents cited the potential for hacking or fraudulent activities as their primary concern regarding crypto, while regulatory considerations also raised concerns for 26% of participants. Surprisingly, volatility was less of an issue, with only 19% sharing this concern. Despite t...
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BitMEX’s Arthur Hayes returns with calls for a boycott of legacy finance

Former BitMEX CEO Arthur Hayes has called on all legacy traders to “opt-out” of legacy trading platforms and embrace the “Crypto Capital Markets.” BitMEX co-founder and former CEO Arthur Hayes has returned from exile with a post on the derivatives exchange’s official blog calling for a boycott of legacy platforms following the GameStop drama. Hayes said the incident, where trading on Robinhood was halted after retail traders forced a short squeeze causing hedge funds to suffer billions in losses, showed that markets are stacked against retail traders: “The game masters just didn’t like how the game was being played, so they jacked up margin to force a course correction,” he said. The former BitMEX CEO urged retail traders trader to “opt-out” of the legacy financial system in favor of “Crypto Capital Markets”: “Withdraw all your money from your broker. Stop trading. Stop paying the system that you believe treats you like a second-class citizen. That is opting out, and it is extrem...
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DeFi Money Market closure after SEC probe could set rocky precedent

What started with the unexpected closure of an investment platform may have ramifications for U.S. DeFi projects say critics. The SEC’s recent inquiry into the Tim Draper-backed DeFi Money Market platform is the most recent example in a concerning trend of increasing action by regulators against unregistered securities. As a result of regulatory inquiries, DMM is ceasing operations. mTokens can be redeemed with interest accrued to-date through the following link: https://t.co/mWB1WacKaH — DMM DAO (@DMMDAO) February 5, 2021 It joins Kik Interactive, Ripple and Coinseed as crypto projects facing the wrath of regulators under  aspects of securities law. The mystery behind DeFi Money Market’s abrupt closure on Feb. 5 was unveiled in the project’s official Telegram channel on Feb. 9, in a statement that revealed the DeFi Money Market Foundation received an investigative subpoena from the United States Securities and Exchange Commission on December 15, 2020. “We reviewed the ...
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US Authorities Take Action to Shut Down Crypto Trading Platform Allegedly Defrauding Thousands of Investors

The New York attorney general and the U.S. Securities and Exchange Commission (SEC) have filed charges against a cryptocurrency trading platform that allegedly defrauded thousands of investors out of over a million dollars. US Regulators Allege Coinseed Operates Illegal Crypto Trading Platform New York Attorney General Letitia James took legal action Wednesday to shut down the cryptocurrency trading platform owned and operated by Coinseed Inc. The lawsuit, filed in New York County State Supreme Court, alleges that Coinseed runs “an illegally operating cryptocurrency trading platform that defrauded thousands of investors across the nation out of more than $1 million.” The suit names Coinseed Inc., its founder and CEO Delgerdalai Davaasambuu, and its chief financial officer Sukhbat Lkhagvadorj as defendants. According to the announcement by the New York attorney general’s office, “Attorney General James sues to shut down” the crypto trading platform and “to recoup defrauded funds fo...
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Altcoins breakout to new highs while Bitcoin price retests a key support

Ethereum takes aim at $2,000 while Bitcoin price retraces slightly to retest underlying support. Bullishness in the cryptocurrency market continued on Feb. 18 as Bitcoin ( BTC ) trades near $51,000 and Ether ( ETH ) is within reach of the $2,000 level for the first time as retail traders remain long while pro traders are less optimistic in the short term. Data from Cointelegraph Markets and TradingView shows Bitcoin price has pulled back slightly from recent all-time highs to a current value of $51,924 while ETH price has increased 5.66% to a record high of $1,950. Investors in Canada showed their healthy appetite for access to the top cryptocurrency as the debut of the Canadian Bitcoin ETF saw nearly $100 million in volume during the first few hours of trading. Daily cryptocurrency market performance. Source: Coin360 Meanwhile, Microsoft co-founder Bill Gates indicated that he has taken a “ neutral view ” on Bitcoin and is neither short nor long on the asset, feeling that...
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Stablecoin RAI launches, a pure, decentralized alternative for DeFi

The RAI stablecoin will attempt to bring stability to DeFi markets with the long-term goal of becoming a stable global reserve asset not tied to any nation’s currency. New Ethereum-backed stablecoin RAI hopes to be the savior of the DeFi sector by providing a truly decentralized stablecoin alternative.  Developed by blockchain startup Reflexer Labs , RAI is not pegged to any fiat currency and its monetary policy is managed by an on-chain, autonomous controller. It's a fork of Maker's DAI. RAI co-founder Ameen Soleimani explained: “RAI is an asset backed only by ETH, governance-minimized, and programmed to maintain its own price stability without needing to peg to an external price reference like the USD.” Soleimani believes that RAI, which he dubbed “A Money God,” has far greate potential than simply improving the DeFi sector, adding: “Our aspirations for RAI, however, are more profound — if RAI fulfills its purpose within DeFi and starts to earn global adoption, it coul...
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US Government Expands Charges Against North Korean Hackers- Authorities Describe Them as The ‘World’s Leading Bank Robbers’

The U.S. Department of Justice (DOJ) unsealed new charges against the North Korean state-sponsored Lazarus Group. The hackers are allegedly responsible for stealing over $1.3 billion in cryptocurrencies and fiat during coordinated cyber-heists. North Korean Hackers Also Developed and Deployed Malicious Crypto Apps According to the announcement , law enforcement expanded charges to Park Jin Hyok, a North Korean military hacker, from his involvement in hacking Sony in 2018, deploying Wannacry ransomware attacks, and other financial cyber thefts. Moreover, the new indictment unsealed mentioned Jon Chang Hyo and Kim Il as part of the new measures taken by the DOJ. Authorities also said that three hackers belong to the Reconnaissance General Bureau (RGB), a North Korean military intelligence agency. Lazarus Group is the codename given by the U.S. authorities to the military hacking groups of North Korea. Per the counterintelligence findings, the RGB has participated in several crypto-...
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Venus (XVS) rallies 900%, TVL hits $3.54B after Binance Smart Chain launch

Venus protocol becomes the top-ranked DeFi platform on the Binance Smart Chain as XVS price and the total value locked in the platform reach new highs. As decentralized finance continues to increase it hold on the wider cryptocurrency market, Binance Smart Chain (BSC) is beginning to emerge as a suitable option for traders looking to escape from high transaction fees on the Ethereum ( ETH ) network.  With more attention being paid to BSC, DeFi projects operating on the chain have also seen an influx of buying activity in recent weeks as token holders rush to supply liquidity for recently launched protocols. One such project is Venus (XVS), an algorithmic money market and synthetic stablecoin protocol designed specifically for the BSC. XVS/USDT 4-hour chart. Source: TradingView Data from Cointelegraph Markets and TradingView shows that XVS price has exploded 775% from a low of $10.04 on Feb. 2 to an all-time high of $82.86 on Feb. 18 amidst an increase in activity on BSC. ...
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Bitcoin whales continue to accumulate despite BTC price holding above $50K

The number of Bitcoin whales is increasing as the price of BTC continues to rise. The number of whale addresses holding Bitcoin ( BTC ) have hit a new all-time high, the latest data shows. This can be considered bullish, particularly as the price of BTC is showing staying power above  $50,000 . The increase in the number of whales indicate that high-net-worth investors are actively accumulating Bitcoin as the bull market continues. Number of addresses holding $1m Bitcoin. Source: Glassnode Why is the rising number of whales important? During bull cycles, the price of Bitcoin could be at risk of a severe sell-off if whales begin to sell or take profit on large positions. When this happens, it creates a massive downturn because the overleveraged futures market begins to fall, seeing cascading liquidations. But when whales continue to accumulate, as the on-chain data shows, the foundation for an extended rally strengthens. Analysts at Glassnode explained that there are now ...
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Russian crypto mining firm scrambles to meet foreign demand

Russian crypto mining giant BitRiver is rushing to build two new data centers to meet increasing demand from global crypto miners. Global cryptocurrency mining operators are increasingly moving their equipment to Russia and the Commonwealth of Independent States as they chase lower energy prices. Igor Runets, founder and CEO of Russian crypto mining firm BitRiver, told local news agency Kommersant Thursday that the company is actively building up its power capacity to meet increasing demand from American and European investors. According to the executive, BitRiver has run out of spare capacity at its data centers, having fully reserved all of its power for the next 18 months. During this period, the company expects to co-locate mining equipment of total mining power estimated at 1 GWh. BitRiver, which operates the largest colocation services for Bitcoin ( BTC ) mining in Russia and the CIS region, is now building two new data centers in Russia, including an 80 MWh facility in Kra...
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Europe’s most successful soccer club just got a cryptocurrency sponsor

Rangers F.C, the most successful soccer club in Europe, has announced a partnership with a Turkish crypto and Bitcoin trading platform. The normalization of cryptocurrency advertising took another leap forward this week as Europe’s most successful soccer club announced a partnership with a Turkish Bitcoin ( BTC ) trading platform. Rangers Football Club, Europe’s most trophy-laden team with 115 competition wins to its name, will partner with Turkish cryptocurrency exchange Bitci Technology. The partnership will run until the end of the 2022–2023 season, and will see the Bitci brand appear on the club’s strip. The club will also launch its own fan token as part of the deal. The official Twitter account for the club announced the news on Feb. 17, stating : “ RangersFC are delighted to announce an exciting new Official Partnership with Bitci Technology, in a wide-ranging agreement that will see the @bitcicom brand appear on the Rangers First Team shorts, through until the end of t...
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PancakeSwap becomes the first billion-dollar project on Binance Smart Chain

PancakeSwap takes advantage of lower costs on the Binance Smart Chain to become the second-ranked DEX by volume. PancakeSwap (CAKE) has emerged as a rising star in the decentralized finance (DeFi) sector with the recent surge in price helping the food-themed token become the first billion-dollar project on the Binance Smart Chain (BSC). Data from Cointelegraph Markets and Tradingview shows that the price of CAKE has risen 520% since reaching a low of $1.89 on Feb. 3 to establish a new all-time high of $11.12 on Feb. 17. This propelled its total market cap above $1 billion for the first time. CAKE/BUSD 4-hour chart. Source: TradingView As DeFi has grown in prominence with a majority of top projects currently operating on the Ethereum network, protocols that are based on other networks such as the BSC are beginning to see an increase in active users seeking respite from high transaction costs and delayed confirmation times. The recent decision by the BSC community to lower th...
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