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Showing posts from April 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...
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dHEDGE launches tokenized index tracking its top 10-ranked traders

Funds will be rebalanced across dHEDGE’s top-ranked fund managers monthly. Decentralized fund management platform dHEDGE has launched a tokenized index that tracks its top-ranked traders. An ERC-20 token will also be issued for the index on automated market maker DEXes  in futur. dHEDGE allows fund managers to launch actively managed investment pools powered by synthetic assets provided by Synthetix. “What dHEDGE is trying to do is crowdsource the best traders on the internet, and if you can create an index out of that, [...] I think that’s tremendously powerful,” Apollo Capital chief investment officer and dHEDGE co-founder, Henrik Anderson, told Cointelegraph. The new pool, dubbed “ dTOP ,” will rebalance funds across the platform’s top 10-ranked fund managers on a monthly basis. The bot will also cover gas fees incurred through rebalancing, with the dHEDGE DAO  paying for gas. The performance of dHEDGE’s hundreds of pool managers is scored using the Sortino Ratio . ...
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The biggest event in crypto this week ISN'T Coinbase’s IPO: Erik Voorhees

The first truly native cross-chain DEX is about to go live. ShapeShift CEO and crypto industry stalwart, Erik Voorhees, has suggested the launch of Thorchain is arguably the biggest event in crypto this week. And considering all eyes in crypto are on the direct listing of major US exchange Coinbase on the Nasdaq on Wednesday — with a potential valuation of $140 billion according to the FTX derivatives exchange — that’s a pretty big claim. Thorchain’s launch is scheduled for Tuesday, April 13, and will mark the first time that native crypto assets can be traded on a DEX across unique blockchains without bridging technology or wrapping tokens. In an April 12 tweet, Voorhees asserted that the launch of a native cross-chain decentralized exchange (DEX) will tread new ground for crypto. “Thorchain has no bridges. It has no wrapping. It is native assets, swapped across chains in a decentralized way, for the first time ever,” Voorhees exclaimed. Thorchain goes live tomorrow. Native c...
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Venezuelan Guards Seize 76 Bitcoin Mining Rigs Due to ‘Inconsistencies’ in Transport Documents

The Bolivarian National Guard of Venezuela (GNB) is known for having a tough stance against crypto mining rig counterfeits, as several operations have been assigned to combat the issues over the last few months. This time, the Venezuelan authorities seized 76 mining rigs after allegedly detecting inconsistencies in the transport documentation. Rigs Are Presumably ASIC Miners According to a press note published by the GNB, the procedure took place in a checkpoint on the Bolivar state, specifically in the Puente Angostura. An individual transported the bitcoin ( BTC ) mining equipment on a Ford vehicle Triton, and he was stopped by the military units in a routine check procedure, stated the authorities. However, the Bolivarian National Guard detected some “inconsistences in the documentation” required to transport the crypto mining rigs legally. Members of the military then proceeded to seize the 76 pieces of bitcoin mining equipment, as they suspected the documentation didn’t com...
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CoinList 'Rally': 40K investors rush to buy RLY despite price pump

Rally has generated $22 million in sales from its liquid token sale on April 4, which attracted 40,000 investors. Social token platform Rally has completed its first “liquid token sale” on crypto asset issuance platform CoinList, with 40,000 investors snapping up RLY tokens for $0.60 each between April 1 and April 4. The sale saw tokens distributed to investors at a set price despite RLY trading on exchanges since October, 2020. Token pricing was determined by a 20-day trailing average from March 11, 2021 to March 30, 2021 minus a 30% markdown to compensate for the RLY being locked up for 12-month a linear release. However, investors had the opportunity to purchase RLY for less than half the price offered by CoinList on the open markets just five weeks ago. The sale was approved through community governance in mid-March, with the 40 million RLY sodl having previously been allocated to Rally’s Community Treasury. The ballot saw 100% of the 7,400 participating token holders vot...
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Bitriver to Sell Tokens Backed by 100 Megawatts of Low-Carbon Siberian Mining Power

On April 12, the international provider of colocation services for low-carbon cryptocurrency mining Bitriver announced it is launching a pre-sale of tokens backed by 100 megawatts (MW) of mining power in Siberia. The ERC20 tokens called “bitriver token (BTR)” will represent a single watt-hour (Wh) of Bitriver’s power in Bratsk. A Low-Carbon Crypto Mining Token The blockchain and mining firm Bitriver announced the organization is launching the public sale for its new tokens called “ bitriver token (BTR) ” on April 19, 2021. Each token represents a single watt-hour (Wh) of Bitriver’s low-carbon cryptocurrency mining power and the tokens will have utility as well. According to the company’s announcement, the tokens will be able to be used to pay for Bitriver’s colocation services and “will be bought back by Bitriver at original listing price after a five-year period.” Right now BTR is available to pre-sale investors with a minimum order quantity of 100,000 BTR tokens per order. As f...
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USDT, USDC, and BUSD represent 93% of stablecoin market cap

The three largest stablecoins represent a combined capitalization of $60 billion. Research from on-chain analytics provider Glassnode has revealed that the top three stablecoins represent more than 90% of the sector’s entire market cap. Glassnode’s April 13 “Week On-chain” report found that the top three stablecoins — Tether (USDT), USD Coin (USDC), and Binance USD (BUSD) — have seen significant growth over the past six months to represent a combined capitalization of more than $60 billion, equal to 92.75% of the stablecoin market. By contrast, six months ago the combined stablecoin capitalization for those three was less than one-third of its current levels at $19.2 billion. This time last year, stablecoins were worth just $7 billion combined. The analysis compared the growth of stablecoins with Bitcoin’s market cap, identifying a clear correlation between the two. The report also found that USDT’s supply has continued to increase during recent weeks despite BTC trending sideway...
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NYSE celebrates historic 'first trades' with NFT series

The NYSE’s NFTs will celebrate the first trades made in the shares of Spotify, Unity, DoorDash, Snowflake, Roblox, and Coupang. The New York Stock Exchange, or NYSE, has jumped on the NFT bandwagon by minting nonfungible tokens celebrating the first trade made in the shares of prominent U.S. companies. In an April 13th announcement , NYSE’s president, Stacey Cunningham, described NFTs as a “new, fun way to mark the moment” of a company’s first trade on the NYSE. The first six NYSE NFTs commemorating the first trades for Spotify, Snowflake, Unity, DoorDash, Roblox, and Coupang, with Cunningham confirming “there will be many more NYSE NFTs to come.” The first  NFTs are already listed on Crypto.com’s NFT marketplace, with the tokens hosting a 10-second video clip presenting information about the company’s first trade — including its time, date, and listing price. NYSE’s First Trade NFT for Spotify: Crypto.com NYSE’s announcement received a mixed response on social media, w...
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Spanish Tax Authority Issues 14,800 Warning Letters to Cryptocurrency Holders

Spanish authorities are enforcing their tough stance on the cryptocurrency industry, and the national tax agency seems to be taking it very seriously. Now, the Hacienda issued 14,800 warning letters to Spaniards under their watch for allegedly having failed or need to declare crypto holdings. Fines Could Be ‘Over $5,900’ if a Crypto Holder Fails to Declare Mandatory Tax Filings According to Telemadrid , Spain’s tax agency was clear on making cryptos taxable, and notifications have already arrived to their correspondent receivers. Spanish crypto holders should declare their earnings in the tax filings, and if they fail to do it, Hacienda said they could incur fines of over 5,000 euros ($5,900). However, Hacienda clarified domestic crypto holders are not accountable for their crypto buying operations, but only the profitable sales. Experts quoted by the local media outlet explained that Spaniards should declare profitable sale operations “made over 2020” on this occasion: Either b...
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Bitcoin’s time has come: TIME magazine to hold BTC on balance sheet

TIME magazine has partnered up with Grayscale to drop a series of educational crypto videos, and has agreed to be paid in Bitcoin. Institutional fund manager Grayscale has partnered with acclaimed New York-based magazine TIME to produce an educational video series on the subject of crypto assets. The partnership was announced on April by Grayscale’s CEO, Michael Sonnenshein, with Sonnenshein revealing that TIME and its president, Keith Grossman , will receive payment in Bitcoin. Further, TIME does not intend to convert the Bitcoin it receives through the deal into fiat, and will hold the crypto asset on its balance sheet. No further details of the partnership have been revealed so far. Thrilled @Grayscale is partnering w/ @TIME on a new video series coming this summer explaining the #crypto space. Equally as important, @KeithGrossman & @TIME has agreed to be paid in #Bitcoin - and will hold the $BTC on their balance sheet. A first for our media partnerships! — Micha...
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5 largest regulated US digital asset managers hold over $46B of crypto

Forbes ranks the top traditional asset managers, but who ranks the top regulated digital asset managers? Cointelegraph Consulting’s 2021 ranking of the top five United States-based regulated crypto asset management firms highlights that Bitcoin’s explosive growth in price has catapulted many digital asset managers past the half-billion-dollar mark.  As more and more investors are turning to the digital asset market, these companies are on track to becoming important players in the U.S. financial industry. Grayscale Investments Grayscale is one of the largest and well-known firms in the crypto world, which was founded in 2013 by its parent organization — Digital Currency Group. Grayscale now has a total of more than $40 billion in assets under management , which consist of investments in Bitcoin ( BTC ), Ether ( ETH ), Bitcoin Cash ( BCH ), Litecoin ( LTC ), Zcash ( ZEC ), Stellar ( XLM ), Horizen (ZEN) and more. The fund offers various products to its clients, both single-asse...
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Microstrategy Will Now Pay Board of Directors in Bitcoin as Treasury Grows to Nearly 100K BTC

Nasdaq-listed Microstrategy, which has amassed nearly 100K bitcoins in its treasury, has modified its compensation agreements for the board of directors. The company will now pay non-employee directors in bitcoin, citing its commitment to the cryptocurrency “given its ability to serve as a store of value, supported by a robust and public open-source architecture, untethered to sovereign monetary policy.” Board of Directors Will Be Paid in Bitcoin Microstrategy Inc. (NASDAQ: MSTR) has filed a form with the U.S. Securities and Exchange Commission (SEC) stating that its Board of Directors has “modified the compensation arrangements for non-employee directors.” The filing explains, “Going forward, non-employee directors will receive all fees for their service on the company’s Board in bitcoin instead of cash,” adding: In approving bitcoin as a form of compensation for Board service, the Board cited its commitment to bitcoin given its ability to serve as a store of value, supported by ...
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Bitcoin is 'caged bull' ready to escape at $60K — Bloomberg Intelligence

Bitcoin is stuck in a "tame" post-halving scenario and has far to run before reaching its cycle peak, says the popular research outlet. Bitcoin ( BTC ) is a "caged bull" and the end of its current price run is nowhere near at $60,000, says Bloomberg Intelligence. In a tweet on April 12, senior commodity strategist Mike McGlone delivered his latest bullish verdict on the state of Bitcoin this month.  Analyst: 2021 bull market is "tame" According to McGlone, who eyed a declining BTC supply coupled with roaring demand from new investors, Bitcoin has far to go before it reaches a cycle top, or "plateau." "Still in Price-Discovery Mode, Bitcoin Plateau Appears Distant — Bitcoin supply is declining and demand is rising, leading us to expect continued price appreciation and the establishment of a higher plateau as the crypto matures," he commented. BTC/USD with Bollinger Bands and 30-day moving average chart. Source: Mike McGlone/ Twi...
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ConsenSys-backed poker platform secures $5M investment

The injection of additional funding will be used to facilitate Virtue Poker’s mainnet launch slated for May 2021. Ethereum infrastructure firm ConsenSys and venture capital fund Pantera Capital have led a group of investors in a $5-million funding round for Virtue Poker, according to an announcement on Monday. Other participants in the strategic investment round included blockchain investment outfit DFG and FunFair founder Jez San. Virtue Poker, an Ethereum-based decentralized poker platform, was founded back in 2016 within the ConsenSys suite of blockchain projects. Back in 2020, the company secured a B2C — Gaming Service License from the Malta Gaming Authority. The $5-million investment will be used to bootstrap the mainnet launch of the blockchain poker platform scheduled for May 2021. The mainnet launch comes after four years of development and two years of beta testing. According to Ryan Gittleson, CEO of Virtue Poker, the company’s status as a licensed operator provides a s...
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Galaxy Digital submits Bitcoin ETF application with SEC

Mike Novogratz’s Galaxy Digital is the latest Bitcoin exchange-traded fund applicant in the United States. Galaxy Digital has submitted a Bitcoin ( BTC ) exchange-traded fu filing with the United States Securities and Exchange Commission. According to the form S-1 published by the SEC on Monday, the Galaxy Bitcoin ETF — if approved — will trade on the NYSE Arca exchange, with the Bloomberg Galaxy Bitcoin index tapped as the pricing mechanism. Detailing the price mechanism for the prospective Bitcoin ETF, the filing reads: “The end-of-day Index price is calculated using the Bloomberg Crypto Price Fixings (‘CFIX’) mid-price for bitcoin. CFIX is based on pricing provided by the Bloomberg Generic Price (‘BGN’) using Bloomberg’s data, technology and distribution platforms, and is made broadly available to the investment community with the objective of providing cryptocurrency fixings that are reliable, representative, and transparent.” As previously reported by Cointelegraph, Galaxy ...
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Want to buy Coinbase stock now? Here’s how to get exposure before April 14

Other than buying Coinbase stock when it lists, retail parties can trade Coinbase stock price action on FTX, but not if they are in the United States. Crypto exchange Coinbase intends to go public via a direct listing on April 14, based on recent information . This means shares of Coinbase stock will become available for trading on the Nasdaq, bringing another part of the crypto space into mainstream finance.  Confusion can accompany activity in the traditional financial world, though. Companies, accredited investors and other entities engage with stocks and finance in various measures, but what about everyday retail participants? If a retail trader wants to buy Coinbase stock when it lists on the Nasdaq or wants to buy it before the listing day, how do they go about doing so? “With a direct listing, no retail brokerage firms have any role in that listing before it’s available on an exchange,” a spokesperson for financial service provider Fidelity told Cointelegraph. “The first...
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Why cryptocurrency is booming in India despite national ban fears

Cryptocurrency is taking off in India, despite regulatory fears which many are now dismissing as nothing but FUD. India has been the subject of intense speculation regarding the future legal status of Bitcoin ( BTC ) and other cryptocurrencies in recent months. Speculation went into overdrive in February when an anonymous Indian minister told Bloomberg that a nationwide blanket ban on cryptocurrency was imminent and that holders would be given a matter of months to dispense with their coins and tokens. Fears were then allayed somewhat when Finance Minister Nirmala Sitharaman told CNBC that reports of a blanket ban on cryptocurrencies had been overstated, adding that any pending regulation would take a much more “calibrated” approach. Perhaps it was this promise of calibration that caused a massive spike in sign-ups to one of India’s largest cryptocurrency exchanges, WazirX, during the first week of April. Head of communications at WazirX, Priyanka Sharma, told Cointelegraph that ...
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Canaan reports $33M net loss for 2020 despite bullish Bitcoin price action

The Bitcoin miner manufacturer saw its year-on-year revenue tumble amid supply chain disruptions and a global chip shortage. Bitcoin’s bullish 2020 closeout was not enough to prevent Canaan from incurring a net loss in 2020. According to the company’s unaudited financial report for Q4 2020, the Bitcoin ( BTC ) miner maker’s net loss for 2020 was about $33 million. However, Canaan’s 2020 net loss is significantly lower than the $148 million recorded in 2019 . Indeed, the reduction in net loss for Canaan was a common theme across the company’s quarterly performance in 2020. As previously reported by Cointelegraph, significant growth in gross margin on the sale of mining rigs helped the company lessen its year-on-year net loss by over 90% in Q2 2020 . As part of the report issued on Monday, Canaan revealed that its 2020 net revenue amounted to about $68.6 million — a 66% decline from the revenue figures in the 2019 financials. The marked revenue decline also meant Canaan’s year-on-...
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MicroStrategy announces Bitcoin bonuses for board of directors instead of cash

Cash is out of the board room and Bitcoin is in as MicroStrategy announces it will pay director bonuses in BTC instead of dollars. Business intelligence firm MicroStrategy announced on Sunday that its board of directors will now receive bonuses in Bitcoin ( BTC ) instead of cash. A modified 8-K form filed with the United States Securities and Exchange Commission revealed MicroStrategy’s decision to dispense with cash bonuses and instead use Bitcoin to compensate those on the company’s board. The modified filing states: “Going forward, non-employee directors will receive all fees for their service on the Company’s Board in bitcoin instead of cash.” MicroStrategy has dollar-cost averaged into Bitcoin since the end of 2020, buying small amounts here and there until it eventually accumulated a war chest of over $4 billion worth of BTC. The 8-K form stated MicroStrategy’s belief that Bitcoin could function as a reliable store of value and commended its open-source nature, which mea...
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Binance Coin reaches 37% of Ethereum’s market cap: 3 reasons why BNB is soaring

Binance Coin, the native cryptocurrency of Binance Chain, has been surging with a massive uptick in transaction volume. Binance Coin ( BNB ), the native cryptocurrency of Binance Chain and top digital asset exchange Binance, is starting to close in on Ether ( ETH ) in market capitalization.  As of Monday, BNB is valued at $87 billion at the price of just under $600. The valuation of Ether is hovering at around $246 billion, which is 2.8 times larger than that of Binance Coin. $BNB volume > $BTC volume. Congrats @Binance @cz_binance pic.twitter.com/vLkdGBnnIt — Joe Grech (@JoeBGrech) April 12, 2021 The technical momentum of BNB has been so strong that it briefly surpassed the volume of the BTC/USDT pair on Binance. This trend is significant because Tether ( USDT ) is the biggest stablecoin in the global market, and the BTC/USDT pair is one of the most liquid trading pairs in crypto. Why is Binance Coin surging so hard? Binance Coin has been rising due to the thr...
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Topps baseball card maker and MLB will issue official NFTs

A set of Topps Series 1 Baseball nonfungible token collectibles will be issued by the major card maker in partnership with Major League Baseball and MLB Players Inc. A set of nonfungible tokens will be issued by the United States’ leading trading card maker Topps in partnership with Major League Baseball and MLB Players Inc. Topps’ flagship annual baseball card collection, now to circulate in NFT form, reflects the company’s pivot toward a digital transition  and awareness of the growing and significant appeal of blockchain-based collectibles.  To help bridge between the traditional and digital worlds of collectors, artwork from the physical versions of this year’s Topps Series 1 baseball release will be reimagined and enhanced for the officially licensed Topps MLB NFT set. A range of cards of varying degrees of rarity from “common” to “legendary,” as well as limited edition and platinum anniversary cards, will be available for purchase; moreover, the company is maki...
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14 Years of Art for $500K: Youtuber Ali Spagnola Compiles All Her Free Paintings Into an NFT

In mid-January, Bitcoin.com’s newsdesk wrote about the popular artist and Youtuber, Alicia Dawn “Ali” Spagnola after she “accidentally got bitcoin rich” from her Free Paintings project. Since then, a great number of people told her to create a non-fungible token (NFT) asset with her artwork, so she decided to execute the idea after many requests. Spagnola chose to mint an NFT that stems from a combination of the 2,809 free paintings she’s created during the last 14 years. A $500K NFT After Giving Away Free Paintings for 14 Years In her recent video on Youtube, Ali Spagnola is hoping to entice elite NFT collectors ( Beeple buyers ) with all of the hard work she spent on her “ Free Paintings ” project. Spagnola is a popular musician and artist with 345,000 Youtube subscribers, a large following on Tiktok, 2.4 million followers on Twitter. While focusing on her content creation and career, Spagnola started a project 14 years ago where she’s been giving away free paintings by request....
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