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Showing posts from March 19, 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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Atlanta-Based Bitcoin ATM Provider Launches Over 100 New Machines Across 24 States in the US

A bitcoin ATM provider has announced a deployment of new machines across several states in the U.S. Bitcoin Depot is set to launch over 100 new bitcoin ATMs in 24 states soon. Bitcoin Depot Expects to Grow by 200% in 2021 According to the company , almost 115 BTC ATMs will be installed, doubling its current count in the last six months. Globally, the ATM network has surpassed 2,000 kiosks, boosted with launching the new ATMs in the United States. Per the distribution, 14 new kiosks will be deployed by the Atlanta-based company across Alabama, 13 in Minnesota, 12 will be installed in Florida, and the last 12 across California. Brandon Mintz, Bitcoin Depot President and CEO, commented on the expansion: Cryptocurrency offers a lot of opportunities for people that don’t have access to traditional financial services, like banks. Our kiosks allow them to essentially self-bank through the digital wallet on their phone by turning their cash into cryptocurrency, which can be used to tran...
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South Koreans Are Required to Pay Taxes for Crypto Holdings in Overseas Exchanges, Authorities Warn

South Korean tax authorities are unstoppable in keeping crypto holders in their eyes and making them accountable to pay taxes. The National Tax Service (NTS) has issued a warning to the crypto traders that they have to report their earnings even from tokens held in foreign exchanges. No Details on How the Agency Will Supervise the Process According to MBC , the agency alerted that South Koreans who are using overseas exchanges are also responsible for reporting all their profits gained. By doing so, crypto holders should pay correspondent taxes on them from 2022. That year is where the government seeks to deploy the new tax laws on cryptocurrencies. As Bitcoin.com’s newsdesk recently reported , the South Korean central government is expected to introduce a 20% on crypto trading profits from domestic crypto exchanges, only if gains cross the $2,300 threshold. The NTS is concerned about crypto traders using foreign crypto exchanges to bypass their tax obligations in South Korea. St...
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Manchester City soccer club launches fan token with Socios

English Premier League soccer club Manchester City is debuting a blockchain-based fan token, promising free tokens for registered Cityzen fans. Major English football club Manchester City is the latest sports club to launch its own blockchain-based token to power new tools for digital fan engagement. According to an official announcement Friday, Manchester City has partnered with fan engagement platform Socios.com to launch the CITY fan token on the Chiliz blockchain. Similar to other European clubs like FC Barcelona and Juventus , Manchester City will now have an option to provide VIP rewards, club promotions, games, AR-enabled features and polls using its fan token. Stephan Cieplik, senior vice president of global partnerships sales at City Football Group, the parent company of Manchester City FC, said that participants of the club’s Cityzens membership will be eligible to receive a free CITY fan token. “Every existing registered Cityzen will also be eligible for a free token s...
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Robinhood targets expanded cryptocurrency trading business

The retail trading platform plans to increase its workforce while adding more cryptocurrency pairs. Robinhood CEO Vlad Tenev has said the company is working towards increasing its cryptocurrency trading service. In a fireside chat posted on the broker’s YouTube account on Thursday, Tenev discussed plans to upscale its workforce and add more crypto trading pairs. Detailing the ongoing plans, the Robinhood chief remarked: “As much as people are bugging me on that on social media, I'm bugging our crypto team and our software engineers. We're going to try and get that done as fast as possible. And we'll see. We might add some new coins along the way.” In addition to increasing its crypto trading catalog, Tenev also touched on the possibility of a Robinhood cryptocurrency wallet. However, Tenev said that the firm was proceeding with caution on that front, insisting that such a feature would need to be tested extensively before rolling it out to users. As previously report...
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Bitcoin price facing final resistance before $68K?

Bitcoin is very close to new all-time highs once again but the final hurdle may take some time to overcome. Bitcoin’s ( BTC ) price has so far failed to make new all-time highs above $60,000 this week. After the breakout above $58,000, negative news from India , as well as general macroeconomic weakness  and rebounding U.S. dollar, appear to have halted the rally.  This resulted in a pullback toward $53,000 on March 16. Such a move is normal as the bull market typically moves in waves. In other words, the market will find a new equilibrium of buyers and sellers, after which it will decide where to go next. Overall, the market has been in a significant uptrend as Bitcoin’s price has accelerated from $11,000 to $60,000 in just six months. Bitcoin fails to break $60,000 BTC/USD 4-hour chart. Source: TradingView The 4-hour chart shows apparent support at $53,000, which held once again. The subsequent continuation upward is seen on the 4-hour chart of Bitcoin. This upw...
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Supercycle may propel Bitcoin over $1 million, Kraken’s Dan Held says

Kraken's head of growth, Dan Held, thinks Bitcoin could reach $1 million within the current market cycle. According to Dan Held, growth lead at Kraken, Bitcoin is currently experiencing a supercycle that could propel it all the way to $1 million. In Held’s view, this market cycle is fundamentally different from previous ones. “This is one in a hundred year moment”, he said, mentioning the coronavirus crisis, growing distrust in financial institutions and central bank money printing as catalysts of the current crypto bull market. “People aren't just in it for a speculative run anymore. People are buying it because they see Bitcoin's value”, he explained. Held is also convinced that once Bitcoin will reach its full potential as digital gold, it will challenge governments’ monopoly over money. “Bitcoin undermines their entire power and authority by removing money from their ownership,” he said. At that point, governments will see crypto as a threat and crack down on it ...
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Bitcoin is now ‘too important to ignore’, Deutsche Bank says

Global banking giant Deutsche Bank expects governments to start regulating Bitcoin by the end of 2021. Bitcoin’s ( BTC ) market capitalization of $1 trillion and potential for continued growth have made the cryptocurrency “too important to ignore,” according to Deutsche Bank analysts. Deutsche Bank Research, the financial research subsidiary of global banking giant Deutsche Bank, issued a report devoted exclusively to Bitcoin, titled “The Future of Payments: Series 2 Part III. Bitcoins: Can the Tinkerbell Effect Become a Self-Fulfilling Prophecy?” In the 18-page study, Deutsche Bank Research describes the basic characteristics of Bitcoin and analyzes the key drivers of its historical price growth to a $1 trillion asset . Deutsche Bank analysts suggested that the Bitcoin price “could continue to rise” further as long as asset managers and companies continue to enter the market. The firm emphasized that central banks and governments now “understand that Bitcoin and other cryptocurr...
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SBI Crypto's Bitcoin mining pool goes public

The mining subsidiary of Japanese financial conglomerate SBI Holdings is opening its pool services to institutional and retail customers alike. SBI Crypto, the mining subsidiary of Japanese financial conglomerate SBI Holdings, has opened its mining pool to the general public.  As one of the fruits of a strategic partnership between SBI and the German tech firm Northern Data AG , the pool reportedly now ranks 11th globally, according to SBI's announcement on March 19. It mines three assets, Bitcoin ( BTC ), Bitcoin Cash ( BCH ) and Bitcoin SV ( BSV ), with a revenue measured in dollars per terahash per day of $0.3897, $0.3805 and $0.3519 respectively.  Prior to its partnership with Northern Data AG and the Texas-based data center operator Whinstone US back in February 2020, SBI's announcement summarizes the company's mining activities to date as follows: “SBI Crypto has been self-mining digital assets in overseas mining farms since August 2017 and...
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Fiat food? Bitcoin Big Mac Index crashes below 10,000 satoshis for the first time ever

The Big Sats Index reveals that a single McDonald's burger now costs less than 10,000 satoshis — cheaper than ever before. Gold may buy less and less Bitcoin ( BTC ) this year, but another measure of the cryptocurrency's strength has just hit a historic milestone. Data from on-chain analytics service Ecoinometrics shows that on March 17, the so-called Big Sats Index saw a United States McDonald's Big Mac cost less than 10,000 satoshis for the first time. Bitcoin vs. fiat: Hard to digest The Big Sats Index measures how much a Big Mac costs based on the famous Big Mac Index from The Economist. Born in 1986, the latter originally came about as a tool to measure the strength of different fiat currencies. The Bitcoin equivalent is something of a tongue-in-cheek commentary on both fiat and food. As Saifedean Ammous argues in "The Bitcoin Standard," both the trillion-dollar forex market and the rise of the nutritionally controversial burger are the results of t...
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NFT-Related Token Prices Soar Amid Digital Art Mania

Crypto assets that are linked with non-fungible tokens (NFTs) marketplaces have risen sharply since the mania took off a few months ago. NFTs are selling at prices that many consider ridiculous for intangible artwork. Third-Largest Art Sale by a Living Artist Was Tokenized One piece of art created by the digital artist called Beeple – a collage of the artist’s work since 2007 – recently sold for a record $69.3 million at the auction house Christie’s. The JPG file became the third-largest art sale by a living artist after Jeff Koons and David Hockney. According to the latest data from blockchain research firm Kaiko, NFT-related tokens have soared in line with the record sales in digital art. Decentraland, a virtual world where players can purchase NFTs, has seen its MANA token surge 682% since Feb. 1. The token Flow, a product of Dapper Labs (partner of NFT marketplace NBA Top Shot), climbed 216% to a high of $37.73 on Mar. 13. Rarible (RARI) rose more than 825% from $4.11 on Feb...
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Ripple appoints former Uber exec to lead Southeast Asian expansion

Ripple's expansion plans haven't been halted by an ongoing XRP securities lawsuit, as it appoints a new managing director for the Southeast Asia region. Ripple has appointed a former Uber executive to lead its expansion into the Southeast Asia region, the firm  announced on March 18. Brooks Entwistle joins Ripple after serving as Uber’s chief business officer, leading the firm’s growth and navigating regulatory issues throughout the Asia Pacific. The new managing director of Ripple’s Southeast Asia wing had previously spent two decades at Goldman Sachs, operating as partner and chairman in the same geographic region. Ripple’s determination to push ahead with its Asian expansion of RippleNet despite an ongoing lawsuit with the U.S Securities and Exchange Commission is unsurprising. Ripple Labs CEO Brad Garlinghouse claimed in early March that Ripple’s expansion into the region was ongoing and that its progress would not be affected by the XRP securities case. RippleNet i...
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Morgan Stanley rumored to be eyeing stake in top Korean exchange Bithumb

Korean media has reported that Morgan Stanley is in talks with Bident — who owns a 10% of Bithumb Korea. According to Korean media, U.S.-based multinational investment banking giant Morgan Stanley is rumored to be negotiating the acquisition of a significant share in leading Korean cryptocurrency exchange , Bithumb. The news was reported on March 18 by Aju News , with Bithumb reportedly in discussions with major Bithumb shareholder, Bident — who owns a roughly 10% stake in Bithumb Korea. A March 19 article from leading local search engine Naver  states  that Morgan Stanley is planning to invest between 300 and 500 billion Korean won ($254 million to $441 million). The report cited an anonymous senior Bithumb representative as stating, “Morgan Stanley participated in the acquisition of Bithumb.” “The reason Morgan Stanley used Bident is because it understood that Bident has the right to negotiate a preferred sale to acquire Bithumb Holdings,” said a second anonymous source...
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Lindsey Lohan Jumps Into NFT Market Auctioning Her Own Creation

The famed American actress, artist, singer, and entrepreneur is set to auction her exclusive collectibles on a Tron-based NFT auction platform, joining the chorus of celebrities promoting coins and projects in the blockchain ecosystem. Hollywood Star to Promote NFT Education & Adoption in Upcoming Clubhouse Session The recent non-fungible token (NFT) asset boom has seen no shortage of participation from both the crypto ecosystem and celebrities seeking to join the latest craze. Lindsey Lohan is the latest Hollywood personality to join the trend with her upcoming collectible sale, following several high-profile auctions which have illuminated the NFT space and its potential. With an event set for March 20th, Lohan will be auctioning her exclusive NFT on the Tron network . The move puts the spotlight on Tron’s capabilities, which is increasingly considered a viable alternative for NFT auctions given its lower transaction costs and higher performance relative to the events curren...
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