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Showing posts from April 9, 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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British auction house Christie’s Plans to Sell 9 Rare Cryptopunk NFTs Next Month 

Next month in New York, the popular auction house Christie’s plans to auction a rare lot of Cryptopunk non-fungible token (NFT) collectibles. The sample of work sold will be approximately nine rare Punks, courtesy of the project’s creators Larva Labs. Nine Rare Cryptopunks Going to Auction On May 13, 2021, the British auction house founded in 1766 by James Christie plans to auction nine one-of-a-kind NFTs from the Cryptopunk project. Christie’s said it will be the first of a kind occasion of “groundbreaking work offered at a traditional auction house.” The single lot of nine Punks stems from the NFTs creators Larva Labs. “The Cryptopunks are the alpha and omega of the [cypto art] movement,” Noah Davis, a specialist in Post-War & Contemporary Art at Christie’s, New York said during the announcement . “This is a historic sale,” Davis added. Several Worlds Into a Single Project- Cryptopunks Inspired the NFT Space The Cryptopunks project came from the minds of Matt Hall and John ...
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South Korean Government Announces Crackdown on Illicit Crypto-Related Transactions in an ‘Overheated Market’

Adding to the South Korean cryptocurrency industry’s stricter regulations, the central government is focusing on the “crackdown” of illegal crypto transactions. A meeting over the week held with high-ranked politicians resulted in a campaign that will soon be deployed. Government Seeks International Help to Monitor International Crypto Exchanges According to Chosun , the South Korean Government met with politicians, law enforcement, and financial watchdog authorities to take down illicit transactions from what they named an “overheated market.” The meeting was led by the Second Deputy Secretary of State Moon Seung-wook, who called authorities from the Financial Services Commission, the Ministry of Strategy and Finance, the Ministry of Justice, and the National Police Agency. The purpose of the reunion was to address the “current situation of the virtual asset markets” in South Korea. They concluded that it’s a must to launch a campaign against market manipulation, money laundering...
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Online Game Operator The9 Plans to Purchase 2,000 Bitcoin Miners for Over $6 Million

The Shanghai-based online game operator, The9 Limited, has revealed the company is planning to acquire 2,000 Canaan Avalonminers for over $6 million in a stock deal. The9’s binding memorandum of understanding (MOU) explains that the new units will give the company 0.1 exahash of bitcoin hashpower. On April 9, the publicly-listed gaming and internet company The9 Limited (Nasdaq: NCTY) revealed the firm’s intentions to acquire 2,000 bitcoin ( BTC ) miners. The new miners will give the company a total hashrate of approximately 100 PH/s or 0.1 exahash (EH/s) of processing power. According to the announcement, The9 entered into a legally binding memorandum of understanding (MOU) with an “unrelated bitcoin mining machine owner.” The machines will be exchanged for Class A ordinary shares. The9 said that the firm will issue approximately 8,127,390 shares based on the share price of around $24.81. But during the next six months, the number of shares could be reassessed. But the new ...
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Enterprise-level partnerships send VeChain (VET) price to new highs

Real-world use cases and enterprise-level partnerships are just a few factors behind VeChain’s recent breakout to a new all-time high. Real-world partnerships and integrations into thriving industries are some of the best forms of validation for blockchain projects that are seeking long-term sustainability and widespread adoption. They also have the ability to spark rallies that trigger long-term price appreciation as brand awareness spreads.  Since February enterprise-level adoption and a wide array of use cases have worked in favor of VeChain (VET), a blockchain-powered supply chain platform that seeks to use distributed governance and Internet of Things (IoT) technology to optimize supply chain management systems. VET/USDT 4-hour chart. Source: TradingView Data from Cointelegraph Markets and TradingView shows that the price of VET has increased more than 400% over the past two months, climbing from a low of $0.0263 on Feb. 8 to a new record high at $0.1344 on April 9 ...
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Texas Bitcoin Mining Swells- Riot Purchases Mining Site for $650M, Blockcap Establishes HQ in Austin

The Lone Star State of Texas is solidifying its role as a bitcoin mining and blockchain hub. This week two major bitcoin mining companies established operations in Texas. The company Riot Blockchain purchased a mining site in Rockdale and the bitcoin mining firm Blockcap announced establishing headquarters in Austin. Blockcap Sets Up Headquarters in Austin, Former Texas Governor Rick Perry Welcomes the Mining Company On April 9, 2021, the firm Blockcap announced that it was establishing headquarters in Austin Texas, and the company will join a number of companies that reside in the Lone Star State. Just recently, Blockcap announced that the company raised over $75 million and revealed a number of large-scale acquisitions of BTC mining rigs. During the announcement, the former governor of Texas, Rick Perry welcomed Blockcap for bringing innovation to Texas. “The State of Texas welcomes Blockcap and its decision to establish its headquarters in our capital, which is yet more evidenc...
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Free TON DeFi Alliance to Lead the Decentralized Finance Ecosystem Growth of TON Blockchain

The Free TON DeFi Alliance creates the necessary infrastructure to attract and maintain strong teams and projects, attracts liquidity from other projects to Free TON and creates partnerships with major companies with large amounts of liquidity and/or a large number of transactions. Free TON DeFi Alliance Forms Free TON DeFi Alliance is a new organization of like-minded people and businesses who share a common goal – to create an environment for substantial and sustainable Free TON DeFi ecosystem growth. The Alliance’s declared goals and focus are centered around economical aspects of the Free TON DeFi ecosystem: liquidity accumulation, new partner businesses engagement, bringing new projects and products to be built in Free TON blockchain, marketing and promotion, and new development teams support. The Alliance, also, sets a goal to become a security and auditing center of expertise, which is very important in the DeFi field. The Alliance set up a partnership with the Free TON ...
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Why's Bitcoin stuck under $60,000? The gold market cap may hold the answer

Both Bitcoin's daily volume and the amount held by large addresses roughly match 10% of gold's. After rallying more than 100% in 2021, Bitcoin ( BTC ) seems to be struggling to turn the $60,000 level into support. After all, what is so special about this magic round number and its accompanying $1 trillion market capitalization? Gold's $11 trillion market cap might hold the answer, as Bitcoin's current trading volume and the amount held by institutional investors seem to match 10% of the precious metal's numbers. Technical indicators and derivatives data provide interesting short-term insights. But to analyze cryptocurrencies in a broader context, one should focus on market capitalization, precious metals and global wealth. More Bitcoins than in 2017 Keep in mind that the 18.67 million current BTC circulating supply is 11.2% more than existed in December 2017. Therefore, using unitary prices for longer-term comparisons can be misleading. Bitcoin market capita...
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Pakistan's central bank is ‘carefully studying’ CBDCs, says governor

State Bank of Pakistan governor Reza Baqir says the country is "waiting to burst as far as digitization is concerned." The Governor of the State Bank of Pakistan, Reza Baqir, has indicated that the institution is carefully studying the possibilities opened by central bank digital currencies, or CBDCs. In an interview with CNN reporter Julia Chatterley on April 8, Baqir noted that countries such as China are “already showing the way” when it comes to CBDC issuance, further outlining the motivations behind the central bank's interest in CBDCs: “The benefit for us is twofold: not only does [potential CBDC issuance] give another boost to our efforts for financial inclusion , but, second, if the central bank issues a digital currency it allows us to make further progress in our fight towards anti-money laundering, towards countering terrorism financing. So we are at a stage where we are studying it, we hope to be able to make an announcement on that in the coming months.”...
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Crypto wagering for online sports betting now legal in Wyoming

The bill already signed into law legalizes online sports betting in the state with bookmakers permitted to accept cryptocurrency deposits from bettors. Wyoming has passed a new law legalizing online sports betting in the state with gamblers able to fund their accounts with bookmakers using cryptocurrencies. Governor Mark Gordon signed House Bill 133 into law on Monday, with new guidelines expected to take effect from Sept. 1. The move sees Wyoming becoming the second state in the United States to permit online sports betting. As part of the bill, the state’s legislature recognized crypto as suitable means of making deposits into online sports betting accounts. According to the definitions under Article 1 of the legislation, cryptos, as well as digital and virtual currencies, qualify as cash equivalents — i.e., approved assets convertible to cash for use in online sports wagering. Apart from cryptos, bettors can also utilize travelers’ checks, cashier’s checks, money orders and c...
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Can a digital pound CBDC retake London’s financial hub status post-Brexit?

Could a digital pound accelerate Britain's growth post-Brexit and retake London's status as the European financial hub? A financial think tank has suggested that Britain should adopt a digital pound in an effort to strengthen London’s status as a global trade center in the wake of Brexit. Previously the gravitational center-point of Europe’s financial sector, London saw much of its influence lost at the end of 2020 when Britain’s exit from the European Union was finalized. The United Kingdom's Finance Ministry will now take proposals on how to make the City of London more attractive to global traders and pull activity back from Amsterdam, which emerged as the new EU trading hub post-Brexit. Euro-skeptic politicians and London finance veterans form CityUnited — a think-tank that is proposing ideas on how to foster growth in an independent Britain. CityUnited chairman Daniel Hodson  told Reuters that the Bank of England’s consideration of a central bank digital currency ...
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Swedish Central Bank Releases the First Study About Its CBDC E-Krona Pilot

The Swedish central bank keeps making steps towards modeling its e-krona pilot project by issuing a detailed report of the results of phase one for the path ahead. Riksbank is still optimistic about launching its central bank digital currency (CBDC), but there are hurdles to clear out on the road. Riksbank to Spend Another Year Exploring Solutions for the Pilot According to the report named “E-krona pilot phase 1,” the central bank highlighted that cash usage in Sweden is “declining.” That said, Riksbank sees potential problems arising from the decline in cash and is therefore running a project to investigate the possibility of producing a digital complement to cash.” However, the central bank wants to take another year to make in-depth explorations to assess how current technical solutions could suit the e-krona project. Currently, the Swedish central bank is using the R3’s Corda blockchain platform. Over the required additional year, the Riksbank wants “market actors” to be inv...
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The major Ethereum support area is $1,800 but weaker than Bitcoin‘s — analyst

The buying support for ETH/USD near its record high appears to be weaker than Bitcoin’s. The price of Ether ( ETH ) is hovering near its all-time high once again, while Bitcoin ( BTC ) is still far from surpassing its record high at $60,805. But despite ETH demonstrating strong technical momentum and entering price discovery, on-chain analysis finds that its support is "narrower" than Bitcoin. Simply put, ETH faces a bigger risk of seeing a deeper pullback than Bitcoin in the foreseeable future, if the market turns around. USD cost of Ethereum held since November 2020. Source: Chainalysis, Phillip Gradwell Why does Ethereum have a weaker support area than Bitcoin Phillip Gradwell, the chief economist at Chainalysis, said that ETH price has narrower support near its record high compared to Bitcoin. If the market corrects, the next major ETH support level, is around $1,800, Gradwell noted. Based on the accumulation trend of ETH, Gradwell explained that the strongest ...
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Ebang refutes Bitcoin ‘China Hustle’ claims as share price falls 20%

A NASDAQ traded Chinese Bitcoin mining firm has seen its shares fall 20% after a damning short report unveiled some alleged dodgy dealings. The share price of Chinese Bitcoin ( BTC ) mining company Ebang continues to fall, while the firm refutes claims made in a Hindenburg Research report which alleged it was pilfering American investors’ cash. The Hindenburg Research report , published April 6, described Ebang as “simply the latest chapter in the ‘China Hustle’ disguised as a Bitcoin mining play.” The report alleges that Ebang raised hundreds of millions of dollars through public offerings in the United States under the guise of operating as a Bitcoin mining company. The money raised in the funding rounds was reportedly funneled out of the company in “a series of opaque deals with insiders and questionable counterparties.” Ebang describes itself as a “leading Bitcoin mining machine producer,” yet according to Hindenburg’s research, the firm hasn’t released a new product since 2019...
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Sri Lanka's central bank warns public against risks of crypto investment

The central bank listed four chief concerns, including the lack of legal recourse in the event of investor disputes and possible violations of foreign exchange regulations when purchasing crypto from abroad. Sri Lanka's central bank has taken the 2021 crypto bull market as an opportune time to warn the public against the risks associated with cryptocurrency investments. In a public notice published on April 9, the Central Bank of Sri Lanka, or CBSL, flagged up three types of crypto activities: cryptocurrency mining, investment in initial coin offerings and trading via cryptocurrency exchanges. All these, CBSL warns, expose investors to significant risks. As there are no regulatory safeguards in place for crypto activities in Sri Lanka, the institution has identified four main areas of concern for retail investors getting into cryptocurrency. The first involves the lack of any specific legal or regulatory recourse for investors in the case of issues or disputes related to their...
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Paypal Cofounder Peter Thiel Thinks China Is Using Bitcoin as Financial Weapon Against the US

According to Paypal cofounder Peter Thiel, the Chinese government, which detests the U.S. dollar’s reserve currency status, could be using bitcoin as a financial weapon against the U.S. While he concedes that China has no intentions of making the yuan renminbi a reserve currency, Thiel still thinks the Asian country may have longed bitcoin because it weakens the dollar’s influence. Reserve Currencies Speaking at the recent Richard Nixon Foundation seminar , Thiel also suggested that China ideally prefers to have two reserve currencies that counter the dollar. He says the Asian country already uses the euro currency as a weapon against the dollar although he claims the “last decade hasn’t quite worked out that way.” According to Thiel, a self-professed bitcoin maximalist, bitcoin has now become the second reserve currency that China uses to fight the dollar’s influence. Consequently, Thiel thinks the U.S. government should start asking tough questions about “how this works.” ...
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'Not a cheaper Bitcoin' — Bitcoin Gold soars 173% as traders may be buying the wrong BTG

Investors could be mistakenly linking the bank with the 2017 Bitcoin hard fork, causing a spike in price and trading action. A long-forgotten Bitcoin ( BTC ) hard fork has surged almost 200% in a week — simply because traders are buying the wrong altcoin. Bitcoin Gold ( BTG ), a relic from the 2017 forking season, traded at $113 on April 9 — the highest price since February 2018 — after 30% daily gains as trading volumes topped $250 million.  Bitcoin Gold piggybacks to 173% weekly gains A curious contrast to an otherwise lackluster cryptocurrency market, Bitcoin Gold’s success appears to be not wholly genuine — but also not the fault of its holders or developers. As Cointelegraph reported  on Tuesday, a new Bitcoin fund from Brazillian investment bank BTG Pactual moved a step closer to launching this week after teaming up with the Winklevoss twins’ Gemini exchange for custody management. While having nothing to do with Bitcoin Gold, the biggest Brazilian investment bank...
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Meitu now holds $100 million in BTC and Ether after latest Bitcoin purchase

The tech company has been on a buying spree of late, racking up $100 million worth of Bitcoin and Ether. Hong-Kong tech company Meitu has taken the total value of its cryptocurrency holdings to approximately $100 million, after the firm disclosed the purchase of an additional $10 million worth of Bitcoin ( BTC ) on April 8. Meitu HK, the wholly-owned Hong-Kong subsidiary of Meitu Inc (incorporated in the Cayman Islands), acquired 175.67798279 units of Bitcoin for a combined price of $10 million, implying a purchase price of around $57,000 per coin. The purchase was reportedly made using existing cash reserves, based on spot prices on the open market. During the past month, Meitu racked up $90 million worth of cryptocurrency purchases , split between Bitcoin and Ether ( ETH ). Following Thursday’s latest acquisition, the firm has now purchased $49.5 million worth of BTC, and $50.5 million worth of Ethereum. The firm previously stated that it couldn’t have made its prior purchases...
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