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Showing posts from March 17, 2021

Student Coin Already Raised Over $8.7M in STC Sale

PRESS RELEASE. To bring the crypto area one step forward, a dedicated team developed one of the most intriguing utility tokens that will forever change the way you see crypto – the STC token, available on its dedicated ICO since February 1st. What is an STC token? STC is the core utility token of the Student Coin blockchain project – that makes possible the creation of personalized tokens without strong technical knowledge. Having an account on the platform allows you to create: Personal tokens – unique assets tied to a single account; Startup tokens – assets that help you take a step forward to your dreams; Corporate tokens – unique assets dedicated to a single company; DeFi tokens – assets that allow you to perform various bank activities without the intervention of third parties; NFT Tokens – transferable tokens that make possible the switch between platforms. All these tokens are valued based on the STC Token, and they can be used for exchanges, trades, even crowdfunds...

World’s Fourth Oldest Auction House Sotheby’s Joins the NFT Ecosystem With a Mysterious Artist

Following the $69 million non-fungible token (NFT) digital art auction at the world-famous auction house Christie’s, the British-founded American multinational corporation Sotheby’s is joining the NFT hype. Sotheby’s is partnering with a popular digital artist dubbed “Pak” for the NFT sale as the brokerage house believes it is important to work with established NFT artists. Sotheby’s Partners With Digital Artist Pak to Introduce the Company’s First NFT Auction Sotheby’s is one of the world’s largest brokers of fine and decorative art, jewelry, and collectibles since 1744. It is also the world’s fourth oldest auction house and now the company says it is entering the non-fungible token (NFT) ecosystem. The company is likely eying the money being made after Beeple sold an NFT at the auction house Christie’s last week raking in $69 million. The Beeple sale was the fourth-largest art sale in 2021, and Sotheby’s plans to get in on the action with an anonymous NFT artist called Pak . (...

'Deflationary' Eth2 could flip Bitcoin: Messari analyst

Senior research analyst at Messari, Ryan Watkins, predicts that Ether could overtake Bitcoin as the top crypto asset once its Eth2 overhaul is complete. Ryan Watkins, a senior research analyst at crypto analysis firm Messari, has speculated that Ethereum could overtake Bitcoin as the largest crypto asset once its Eth2 and Proof-of-Stake overhaul is complete. Appearing on Youtube show 'FinTech Today' on March 18, Watkins noted that while he does not know “if or when” Ethereum will flip Bitcoin, he does believe Ether could emerge as the leading crypto asset in the future, due to Eth2, stating: “The selling point of Bitcoin over Ethereum as a store of value asset boils down its monetary policy being very predictable and the Bitcoin blockchain being very secure. I think that with the shift to Eth2 and to Proof-of-Stake, [...] Ethereum may actually potentially be more secure than Bitcoin.” Watkins also emphasized Ether’s changing underlying economics amid the Eth2 transition, ...

Going to pieces: Fractionalized NFT projects gather steam

Two new projects aim to bring NFTs to the masses by breaking them apart. Non-fungible tokens and crypto art have taken the industry by storm in 2021 and a number of projects aim to fractionalize pieces of NFTs to give collectors' partial ownership rights. Projects that break apart, or fractionalize, non-fungible tokens are gaining interest following a number of groundbreaking sales that are beyond the reach of most investors. With pieces such as Beeple’s “ Everydays: The First 5000 Days ” fetching a record-breaking $70 million , not everyone has pockets deep enough to bid on such extravagances. The buyer, known by the handle “MetaKovan”, purchased the piece for an NFT fund. Owning just a portion of a piece of digital art is an approach becoming more appealing to collectors, after a concept called Fractional Non-Fungible Tokens (F-NFTs) was originally conceived in 2018 as a way to offer shared ownership. A new decentralized project called Fractional will allow NFT owners to m...

Thailand’s central bank warns against ‘illegal’ THT stablecoin

The Baht-pegged stablecoin produced by Terra has come under fire from Thai bankers. The Bank of Thailand has issued a stern warning against a privately issued stablecoin pegged to the national currency, the Thai Baht. According to a Bangkok Post report on March 18, the central bank has told citizens that Thai Baht Digital (THT) has no legal assurances or protection and that users could be at risk of cyber theft or money laundering Citing a sixty-year-old law, the central bank's assistant governor of the legal group, Pruettipong Srimachand, stated that any activities involving the stablecoin are considered illegal: “The creation, issuance, usage or circulation of any material or token for money is a violation of Section 9 of the Currency Act 1958.” The stablecoin is issued on the Terra platform which has produced various other stablecoins including the TerraUSD, first issued in September 2020, and TerraKRW. It is also behind the Chai payments app, an e-commerce wallet powered...

Irish crypto firms will impose Anti Money Laundering ID checks from April

Irish companies operating with crypto, and the firms servicing them, will have to adhere to AML and CFT for the first time starting next month. Irish lawmakers will impose an anti money laundering regime on crypto for the first time in April The Central Bank of Ireland has extended the nation’s anti-money laundering, or AML, and countering the financing of terrorism, or CTF, guidelines to apply to Bitcoin and crypto assets from April. Starting next month, Ireland’s crypto asset service providers must comply with AML rules and other regulations for the first time. The new rules are a result of the inclusion of the latest European Union AML Directive into Irish law. Companies that operate with crypto assets, and any firms providing services to them, will be required to complete due diligence checks on their clients and account for the origin and destination of funds. Ireland’s firms will have to convince the central bank they are maintaining AML and CFT policies to the same stand...

Asia’s MicroStrategy? Meitu drops another $50M on ETH and BTC

Chinese tech company Meitu has dropped another $50 million on ETh and BTC, taking its total holdings up to $90 million. Chinese tech company Meitu has announced the investment of a further $50 million into Ether and Bitcoin, taking its net spend on crypto up to roughly $90 million this month. The Hong Kong and China listed company purchased 386.08 BTC for $21.6 million, and 16,000 ETH for around $28.4 million, on March 17. The most recent announcement follows an initial cryptocurrency investment on March 5, in which the company acquired 15,000 ETH for around $22.1 million and roughly 379 BTC for approximately $17.9 million. In the latest announcement, the company noted that while cryptocurrency is still in its formative stages, it believes that blockchain technology has the potential to be a disruptive force in existing financial and technology industries: “The Board believes that the blockchain industry is still in its early stage, analogous to the mobile internet industry in ci...

Texas Issues Orders to Stop ‘Binance Assets’ and 2 Other Fraudulent Crypto Investment Platforms

The Texas securities commissioner has entered emergency cease and desist orders to stop three cryptocurrency investment platforms from duping investors in the state. One scheme operates under the name “Binance Assets.” The regulator has found that all three platforms are fraudulent. Texas Seeks to Stop 3 Crypto Platforms Operating in the State Texas Securities Commissioner Travis J. Iles entered a pair of emergency cease and desist orders Monday targeting three unregistered online cryptocurrency investment platforms. They are Delta Crypt Ltd. (also known as Binance Assets), Fxsmart Robots, and Digitaly Invest. The latter is not the same company as Digital Invest or Digitally Invest. The commissioner’s order emphasizes that none of the platforms is registered to sell securities in Texas and their investment plans are not registered or permitted for sale in the state. The Philippine Securities and Exchange Commission previously issued a public advisory order against Delta Crypt, whi...

Bank of America analyst slams Bitcoin : Buying 1 BTC is ‘like owning 60 cars’

It looks like 2017 called and wants its Bitcoin condemnation back, with a Bank of America analyst reheating some long standing criticisms of BTC for its clients. Bank of America analyst Francisco Blanch has slammed Bitcoin as "exceptionally volatile", "impractical" and an environmentally disastrous asset that's useless as a store of wealth or an inflation hedge. For good measure Blanch also asserted the cryptocurrency is an impractical method of payment as it can only handle 1,400 transactions per hour compared to the 236 million transactions processed by Visa. The report — which echoes the hardline stance taken against crypto by traditional financial institutions in years past — is in stark contrast to other major banks such as Goldman Sachs and JPMorgan, which have since embraced Bitcoin as an asset. Contradicting the notion that Bitcoin’s fixed supply of 21 million will inevitably drive price growth over time, Blanch argues BTC’s price is driven by suppl...

Volatility derivatives project Volmex Finance attracts backing from VC giants

Volatility derivatives are coming to DeFi with backing from several VC giants. A number of venture capital giants have completed a financing round for Ethereum-based volatility and derivatives protocol Volmex Finance. According to a March 17 announcement from Volmex Labs, the financing round was contributed to by several leading decentralized finance venture capital firms including Alameda Research , Three Arrows Capital, Robot Ventures, CMS Holdings, IOSG Ventures, D64 Ventures, and Fourth Revolution Capital in addition to a number of individual angel investors including BarnBridge's Tyler Ward. The amount raised was undisclosed. 4RCapital co-founder Keegan Selby posted on Twitter: “Extremely excited to back Volmex Finance as they introduce volatility indices, a core financial primitive of the quadrillion dollar global derivatives market, to Decentralized Finance.” The project, introduced in December 2020, aims to bring volatility hedging to Ethereum which will unlock a num...

Visa Anticipates Cryptocurrency Becoming ‘Extremely Mainstream’ — Working to Allow Bitcoin Use at 70 Million Stores

Visa CEO Al Kelly anticipates that cryptocurrency could become “extremely mainstream” within five years. He is working to position Visa in the middle of it should cryptocurrency take off. He further confirmed that Visa is working to allow bitcoin purchases, in addition to enabling the cryptocurrency to be used at 70 million stores where Visa is accepted. Visa Anticipates Crypto Going ‘Extremely Mainstream’ In the Leadership Next podcast with Alan Murray and Ellen McGirt published Tuesday, Visa CEO Al Kelly talked about bitcoin and his company’s cryptocurrency strategy. Given the recent rise in the price of bitcoin, he was asked what it means for his credit card business. “I would like to divide crypto into two buckets,” Kelly began. “One is the more speculative asset” or “digital gold,” he explained, adding that he put bitcoin in this category. The CEO elaborated: In that category, we are trying to do two things. One is enable the purchase of bitcoin on Visa credentials. Second...

Everipedia (IQ) rallies 400% after an NFT collaboration with the Associated Press

Everipedia price spiked to its highest level in years following the project's pivot toward NFT art. Non-fungible tokens (NFTs) continue to take the world by storm as evidenced by the March 16 announcement that Sotheby's would be entering the NFT game by facilitating the sale of tokenized art by the anonymous artist known as "Pak." The latest cryptocurrency project to receive a boost from NFT related activities is Everipedia (IQ), a blockchain-based encyclopedia that has the vision of creating “a world where all knowledge is available to all people.” The Everipedia ecosystem also includes PredIQt, a decentralized knowledge base and DeFi platform that includes a prediction market where users can make predictions about future market events and earn cryptocurrency for successful predictions. Data from Cointelegraph Markets and TradingView shows that the price of IQ has rallied 400% in the past week from a low of $0.00781 on March 8 to a high of $0.039 on March 1...

$60K Bitcoin price back in sight after Morgan Stanley and Fed announcements

Bitcoin bulls are making a renewed push toward $60,000 after the Federal Reserve and Morgan Stanley made announcements that could bode well for BTC price. Optimism returned across the cryptocurrency market on March 17 following a brighter economic forecast from the U.S. Federal Reserve and comments which hinted at the possibility of an interest rate hike in 2022 if employment and economic indicators continue to improve. Data from Cointelegraph Markets and TradingView shows that Bitcoin struggled below the $57,000 level during early trading hours until the announcement from the U.S. Federal Reserve sparked a rally which took BTC to an intraday high of $58,243. BTC/USDT 4-hour chart. Source: TradingView Bullish momentum for the top cryptocurrency began to build after it was revealed that institutional banking giant Morgan Stanley will soon offer certain investors access to three funds that allow clients to own Bitcoin . Further validation for a continuance of ...

UK advertising watchdog cuts ‘irresponsible and misleading’ Bitcoin ad

The advert, which was alleged to have targeted retirees, was deemed to be misleading and irresponsible by a U.K. advertising authority. The United Kingdom Advertising Standards Authority has upheld a complaint lodged against cryptocurrency exchange Coinfloor for its publication of a Bitcoin ( BTC ) advertisement in a regional news outlet. The ad, published in the Northamptonshire Telegraph on Dec. 3, 2020, was deemed to have targeted retirees, according to the complainant, who claimed the ad was misleading and socially irresponsible. The ad led with the title “There is no point keeping your money in the bank…” and featured an image of a woman, aged 63, describing her decision to convert part of her pension into Bitcoin. The retiree depicted in the advert was quoted as saying: “More and more people are waking up to the savings power of Bitcoin… Today there is no point keeping it in the bank — the interest rates are insulting. […] That is why when I received my pension, I put a thi...

EU securities regulator warns about risks of ‘non-regulated’ cryptos

The ESMA analyzed the impact of COVID-19 on financial markets, highlighting the supposed risks linked to crypto investment. The European Securities and Markets Authority, the European Union's independent financial authority, has warned about the high risk of cryptocurrency investment. In its latest “Trends, Risks and Vulnerabilities” report published Wednesday, the ESMA analyzed the impact of COVID-19 on financial markets, highlighting the increased risks linked with investment in “non-regulated crypto-assets.” The authority mentioned that crypto assets saw a massive surge in value and trading volumes during the second half of 2020, with Bitcoin reaching all-time highs. The ESMA stated that the surge was driven by “positive newsflows in the crypto sector,” including PayPal’s move to roll out its crypto buy and sell option on the platform as well as the growing interest in decentralized finance , or DeFi. “It is also fuelled by strong investor demand and search for yield amid...

A Ledger Hardware Wallet Is the Best Solution to Protect and Own Your Private Keys

The crypto economy is on the cutting edge of both finance and technology, which means that you need to be ever vigilant in protecting your digital assets. A critical component of doing so is using a hardware wallet from a company you can trust, like Ledger , to securely store your private keys. Not Your Keys, Not Your Coins Anyone who has been following the cryptocurrency industry even a little bit has heard way too many stories about exchanges getting hacked, or simply disappearing overnight, leaving investors without any of the assets they thought they owned. This can happen because when you have a balance at an exchange you don’t really control the coins you think you do. Only by keeping the private keys yourself you can truly own a digital asset. Storing your private keys yourself might sound daunting to a newcomer to crypto, but luckily there are powerful yet user-friendly solutions. A hardware wallet is a physical device that stores your private keys in a secure chip. With a...

Zero to 6,000% in seven days, dormant altcoins are coming back to life

Previously dormant altcoins are suddenly erupting, and it's not very clear why. A rising tide lifts all boats — even those previously thought to be shipwrecked. At least that’s how it looked on March 17 when some previously dormant altcoins erupted back into life, experiencing spikes ranging between 3,000% and 6,500% for the week. Foremost among them was Karma (KARMA), a social media project that originally launched on the EOS blockchain in 2018. Over the past seven days the dollar value of Karma increased 6,530%, as the token climbed from a sub-cent price of $0.000464, up to $0.030767. Trade volume spiked 35,400% over the same period, but don’t assume that means liquidity is readily available. From a weekly low of $2, trade volume had risen to the heady heights of $710 by Wednesday. The token had lost more than 99% of its value between 2018 and 2020, and that’s the same year that any activity was last witnessed from the project’s Twitter account. Karma’s Telegram channel pre...

Swiss regulator 'unlikely' to approve Bitcoin Suisse's banking license

But Bitcoin Suisse still has "many options on the table," says the firm's CEO. Switzerland's Financial Market Supervisory Authority — the country's principal financial regulator — has made an "unfavorable prognosis" regarding Bitcoin Suisse's application for a banking license. According to an official announcement on March 17, Bitcoin Suisse's current application is ineligible for approval on the grounds that "various elements that are relevant under licensing law make it unlikely that a license will be granted." As such, Bitcoin Suisse has decided to withdraw its application. Speaking to Cointelegraph, Bitcoin Suisse CEO Arthur Vayloyan remained optimistic, stating that the firm still has "so many options on the table." He explained that the firm's reputation for cryptocurrency storage and trading has put it in an ideal position as institutional adoption of digital assets grows exponentially. Vayloyan explained th...

Private Messaging App Signal Now Accepts Donations in Cryptocurrencies

The nonprofit foundation behind the privacy-driven messaging app Signal is officially joining the cryptocurrency venture. In this case, the Signal Foundation announced it has started accepting crypto donations. Signal Foundation Also Takes Donations in Privacy Coins According to an announcement via Twitter, the organization encouraged people to arrange donations via cryptocurrencies, but it’s not limited to bitcoin ( BTC ) or ethereum ( ETH ). Per their landing page , the foundation also supports litecoin ( LTC ), chainlink (LINK), zcash (ZEC), amp (AMP), Basic Attention Token (BAT), dai (DAI), gemini dollar (GUSD), storj (STORJ), and 0x (ZRX). The addition of privacy coins comes in response to a number of social media users asking Signal to add such cryptos to “comply” with their privacy-driven philosophy. A tweet from Signal reads: As a nonprofit organization, we depend on your support. If you’ve been patiently waiting for Signal to accept cryptocurrency donations, you no l...

Coinbase registers 114.9 million shares ahead of direct Nasdaq listing

Coinbase listed the shares for resale in preparation for its initial public offering at the end of the month. Cryptocurrency exchange Coinbase has registered 114,850,769 shares of class A common stock for a direct listing on the Nasdaq stock exchange, as per an amended S-1 filing with the U.S Securities and Exchange Commission. Coinbase announced its intention to launch an initial public offering back in December 2020 when it first filed registration forms with the SEC. By early March, the pre-market private trading price of the shares had risen as high as $375, giving the company an estimated pre-IPO valuation of around $100 billion at the time. The updated S-1 filing suggests a volume-weighted average price per share of $343.58, based on private market transactions from the first quarter of 2021. The filing states: “Based on information available to us, the low and high sales price per share of Class A common stock and Class B common stock (on an as-converted basis) for such p...

EAEU unlikely to find common ground on crypto regulation, official says

The Eurasian Economic Union’s member states did not support an initiative to synchronize crypto regulations. Member states of the Eurasian Economic Union, or EAEU, have been struggling to come up with a shared stance regarding cryptocurrency regulations, according to an official. Iya Malkina, assistant chairman of the Eurasian Economic Commission Board, stated that EAEU member states did not support a recent initiative for a uniform cryptocurrency regulatory framework within the union. In a press briefing Wednesday, Malkina explained that the Eurasian Economic Commission received several proposals to synchronize regulations in the industry of blockchain and crypto. The EEC also recommended developing a basic uniform regulatory framework within the EAEU with a single glossary and principles. “However, this proposal did not find support,” the official said. Malkina said that the EEC has been actively analyzing the impact of cryptocurrencies on the macroeconomic stability of the EAE...

Bitcoin price dips under $55K as US bond yields touch 13-month high

Fresh difficulties for BTC price action fails to dent investor enthusiasm as the battle for $55,000 support begins. Bitcoin ( BTC ) slid under $55,000 on March 17 as United States treasury yields built on a comeback, which took them to their highest in over a year. BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview BTC price stays firmly rangebound Data from Cointelegraph Markets Pro and Tradingview showed further downward pressure for BTC/USD on Wednesday, compounding a comedown that began late on Sunday. While not plugging the week's lows at nearer $53,000, the latest dip to $54,425 on Bitstamp underscores Bitcoin's correction after hitting all-time highs of $61,700. The weakness came in tandem with strength on U.S. bond yields , a classic drain on BTC performance. On-chain metrics showed broad strength, however, while derivatives funding rates also cooled, fueling bullish sentiment beyond spot price action. "Bitcoin will continue to rise and rise in...

Arthur Hayes seeks voluntary surrender in Hawaii court with $10 million bail

Lawyers for the former CEO of crypto derivatives exchange BitMEX are proposing Hayes’ voluntary appearance on April 6, with his potential release on bail subject to a $10 million personal recognizance bond. Lawyers negotiating on behalf of Arthur Hayes, one of four BitMEX executives and co-owners accused of violating the Bank Secrecy Act by United States authorities, have finalized the terms of his proposed voluntary surrender to a Hawaii court on April 6. As a letter submitted to the Southern District Court of New York outlines, the counsel's negotiations with the government on behalf of Hayes began shortly after his indictment was unsealed in Oct. 2020. The proposed bail conditions, which are subject to the court's approval, stipulate that Hayes, who has lived in Singapore since Jan. 2020, would potentially be released on a $10 million personal recognizance bond, secured by $1 million in cash and co-signed by his mother. Further proposed conditions include Haye...