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Showing posts from April 22, 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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Expert panel divided over best way to achieve diversity in crypto sector

Experts are divided over ways to balance diversity in crypto, with Rupert Colchester of IBM noting that teams should be “built right” from the ground up. While almost everyone agrees the blockchain industry needs to address the under representation of women in the sector, experts remain divided on the best way to achieve it. Should we take an interventionist approach or hope that as blockchain becomes more widespread it will hold more appeal outside of its core demographics? Recent data from trading platform eToro, which has 18 million registered users, suggests women account for just 15% of Bitcoin traders, and 12% of Ether traders. Panellists at an Australian Blockchain Week event on April 21 offered a range of views on how to provide more diversity in the crypto and blockchain sectors moving forward. Rupert Colchester, the Lead Client Partner for IBM said he was amazed how many “things are built by teams that aren't diverse,” as he feels that diverse perspectives can help...
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Bitcoin tumbles 10% in 12 hours to trade below $50,000

Bitcoin is now down 23% from it's all-time high after quickly crashing below $50,000. The price of Bitcoin has fallen below $50,000 for the first time since March, with BTC shedding roughly 10% in the last 12 hours. On April 17, the $60,000 range was rejected, driving a crash in the Bitcoin price of nearly 20% in a single hour. While the markets consolidated near $55,000 for several days, bulls failed to defend the range on April 22, resulting in sustained bearish action over the past day. Yesterday, Cointelegraph reported that significant profit-taking in the Bitcoin markets may suggest an impending local top , with today’s slump appearing to confirm the hypothesis. Analysts from JP Morgan similarly warned of sustained bearish action should BTC fail to reclaim the $60,000 level. The move below the psychological $50K mark has prompted mixed reactions on Twitter, with Messari researcher Mira Christanto noting the markets have only retraced from the all-time high by 23% — sign...
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TimeCoin (TMCN) Offers New DeFi and NFT Opportunities for Content Creators and Fans

TimeCoinProtocol is a decentralized sharing economy platform for dApp developers to easily create and operate new services. It has a successful eSports dApp and the company will soon launch NFT marketplace and DeFi functionalities that offer amazing opportunities for content creators and fans. TimeCoin Raises Funds for DeFi and NFT Developments TimeCoin (TMCN) launched a Special Token Sale on February 15th, 2021. The project was initially financed by a few investors who invested around $4 million, n ow the tokens will be sold on the OTC market for the first time. The sale serves specifically to raise funds for the development and enhancement of the project, and in particular for the eSportStars dApp . The Alpha version of eSportStars was released in October, 2020, and have already acquired 10,000 users. It is available in Japanese, English, Chinese, Hindi and Portuguese, and the developers plan to expand support for more than 30 languages. The project requires further develop...
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Report: Banking Giant Natwest to Refuse Service to Businesses That Accept Cryptocurrencies

The major retail and commercial financial institution National Westminster Bank (Natwest) has categorized cryptocurrencies as “high risk” and refuses to serve business customers who accept digital assets for payments. A Natwest board member, Morten Friis, explains the bank has no appetite for dealing with these types of customers as Natwest is taking a “cautious approach” toward this technology. Natwest Will Refuse to Do Business With Companies That Accept Cryptocurrencies Reports show that the popular UK-based financial incumbent and wealth manager Natwest is refusing to serve business customers who accept cryptocurrencies. The same bank established in 1968 from a merger between Westminster Bank and National Provincial that suffered from intense scrutiny after being involved in the stock market crash of 1987. The report written by theguardian.com’s banking correspondent Kalyeena Makortoff explains that Morten Friis, a Natwest board member and head of the bank’s risk committee is ...
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Synthetic FAANG stocks are trading in DeFi — but do gas fees make them uncompetitive?

Sky high gas prices may make synths more costly than the real thing. Decentralized finance protocol Kwenta has launched a series of synthetic tokens for popular stocks — but current gas prices could make trading them more expensive than buying the real thing. In a blog post on April 23, derivatives trading protocol Kwenta —an Ethereum dApp which is powered by Synthetix — announced the listing of various synths that track the prices of stocks from the top five tech firms known by the acronym FAANG. These comprise Facebook, Apple, Amazon, Netflix, and Google. Tesla was already available and there are plans to soon add Microsoft (MSFT) and Coinbase (COIN). The Mirror Protocol on Terra blockchain has a similar setup offering a range of synthetic tokens based on tech stocks, as well as a FAANG index token . Tokenized stocks were first made available on the FTX derivatives exchange and can now be traded on other major platforms such as Binance, however synthetic tokens enable these stoc...
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YouTuber claims he'll buy 111 Tesla Model 3s... if Elon Musk accepts Bitcoin Cash

He’s committed to buying 111 Tesla Model 3s if BCH is added as a payment method. Is it a publicity stunt or something more? A Bitcoin Cash ( BCH ) YouTuber has promised to buy 111 Tesla Model 3s … but only if Tesla CEO Elon Musk agrees to accept BCH for Tesla purchases from now on. Going by the title “1stmil.com,” the Australian YouTuber explained to almost 8,000 followers over three short videos that he believes Tesla would see a boost in sales as a result as there are many Bitcoin Cash supporters who want to spend their cryptocurrency, whereas Bitcoin ( BTC ) supporters tend to want to hang on to their holdings. “You will enjoy unbelievable amount of support by people who actually want to spend the Bitcoin Cash, not the people who just want to HODL the BTC.” In late March the Bitcoin Cash community was dismayed to learn that BCH had not been added as a payment option when Elon Musk confirmed that U.S. customers could buy a Tesla using BTC. The day following this public rebuff...
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‘Bitcoin incentivizes renewable energy’ agree Elon Musk and Jack Dorsey

Square and Ark Invest argue that Bitcoin miners can bolster the efficiency of the renewable energy industry by acting as an electricity buyer of last resort. Some of Bitcoin’s most prominent backers have sought to make the case for Bitcoin’s environmental efficiency, with a collaborative paper from researchers at financial services firm Square and investment manager Ark Invest asserting that Bitcoin mining can drive increased efficiency in renewable energy production . The paper , authored by “The Bitcoin Clean Energy Initiative,” or BCEI, seeks to counter the claim that “the computation required to secure Bitcoin [...] is environmentally damaging and ruining the planet,” arguing that Bitcoin mining incentivizes the generation of electricity “from renewable carbon-free sources.” The paper has received support from top crypto luminaries including Square’s Jack Dorsey, Tesla’s Elon Musk, and Ark Invest’s Cathie Wood . True — Elon Musk (@elonmusk) April 22, 2021 In an April 22 Tw...
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Bitcoin vs Gold Debate: Frank Giustra Says BTC Not the Answer to All Problems, Crypto Proponents Exhibit Cult Behavior

The bitcoin vs. gold debate between gold financier Frank Giustra and the pro-bitcoin Microstrategy CEO Michael Saylor took place this week. In what viewers call an “epic” debate and a “historic” event, Saylor packed his arguments full of facts to convince Giustra to sell his gold and invest in bitcoin. Giustra, however, attacked how Saylor and the crypto community promote the cryptocurrency, calling it “cult behavior.” The Bitcoin vs Gold Debate Between Michael Saylor and Frank Giustra The debate between gold financier Frank Giustra and Microstrategy CEO Michael Saylor on the topic of bitcoin vs. gold premiered on Wednesday. The two-hour debate was hosted by Stansberry Research and moderated by Daniela Cambone. Giustra is CEO of the Fiore Group, a private firm managing a broad portfolio of private equity investments and companies. He also founded Lionsgate Entertainment, one of the world’s largest independent film companies. Saylor is the CEO of Microstrategy, the company which ha...
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Mastercard NFTs will help consumers offset carbon ‘down to a cup of coffee’

Mastercard is set to incorporate carbon footprint tracking into its blockchain-based solution, to help consumers offset carbon emissions through their purchases. Leading payment technology provider Mastercard will help consumers directly offset carbon emissions and choose better products for the environment via its blockchain-based Provenance Solution. The system provides such granular detail that consumers can choose a more environmentally friendly cup of coffee, or a sustainable T-shirt, by interacting with the carbon credits directly related to that item, as represented by a nonfungible token and unique marker. Speaking on April 21 as part of the Australian Blockchain Week, Ashok Venkateswaran, Mastercard’s Head of Digital Assets and Blockchain APAC, discussed how the company is working to track the carbon footprint of its partners and incorporate the data into its blockchain-based product tracking technology: “We're developing partnerships with potential companies which ...
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Another US City Aims to Become Bitcoin Hub — Exploring BTC Payroll, Mining, Holding Crypto in Balance Sheet

Another U.S. city, besides Miami, is looking to become a bitcoin hub. The mayor of the city of Jackson TN says that his city is exploring payroll conversions in crypto in addition to bitcoin mining to add the cryptocurrency to its balance sheet. Jackson TN Looking to Become a Bitcoin Hub Mayor Scott Conger of Jackson, Tennessee, has shared on Twitter his plans to make his city a bitcoin hub. “Jackson TN is in a prime position to lead the way in cryptocurrency adoption,” he said this week. “Local government will lead the way in bitcoin adoption, and along with it, usher in a new industrial revolution with sustainable economies that will help close the wealth gap,” the mayor tweeted Wednesday. “Utilizing dollar-cost averaging in appreciating assets, like cryptocurrency, is one way we bridge the wealth gap and financially empower people.” Using BTC , LTC , and ETH hashtags, Mayor Conger tweeted Tuesday: We’re exploring payroll conversions for our employees. Even more exciting – we...
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Our Man in Shanghai: DogeMania, ‘Dog-Coin’ trademark dogfight, hashrate outage, government warms up to crypto

Global BTC hashrates still down over 15% following accident, Dogecoin the subject of trademark applications, and government official mentions BTC as an investment alternative The big news this week happened on April 16th, when a major power outage in Xinjiang wreaked havoc on the BTC hash rate. According to local sources , the hash rates on Ant Mine Pool fell by 21.93%, BTC.com by 18.5%, Binance Mine Pool by 22%, and Huobi Mine Pool by 25.5%. Reports from Cointelegraph linked it with safety inspections resulting from a mine accident in the western-most province. Western China has a strong presence in the mining space due to cheap electricity and equally affordable real estate. Despite miners originally stating the impact would only last 1 to 2 days, the hash rate has yet to rebound. Currently the global rate is under 145 million TH/S , down from a peak of 172 million TH/S the day before the accident. DogeMania Dogecoin mania set in as buyers on OKEx and Huobi helped drive the pric...
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Data shows traders rushed to buy altcoins during Bitcoin’s dip to $50K

Bitcoin price may be stuck in a rut but this hasn't stopped traders from loading up on LINK, BAND and Qtum. Bitcoin’s ( BTC ) recent downturn temporarily pulled its dominance rate down to 49.5% which is the lowest level since August 2018. This has led a growing number of traders to predict that altcoins will outperform Bitcoin in the short term. Over the past few months, the price action from altcoins seems to be disengaging from Bitcoin. Take for example, Ether ( ETH ), which hit a new all-time high today even as Bitcoin price is down 20% from its all-time high. Crypto market data daily view. Source: Coin360 The major factor that could have tilted the scale in favor of altcoins is the massive rise in the popularity of the decentralized finance space. New York Stock Exchange president Thomas Farley pointed out in an interview with CNBC that “DeFi exchanges are doing as much volume if not more than Coinbase today.” Let’s look at the fundamentals and technicals of three tok...
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How to make hodling worthwhile, explained

Hodling can be a nerve-wracking experience — and if crypto is left to languish in a cold wallet for several years, it can also end up being an unrewarding one. What legal safeguards should you look for? Working with a licensed crypto company offers clients legal rights and helps ensure that they don’t run into regulatory trouble. Financial regulators and international banking bodies around the world are cracking down harder and harder on crypto companies that do not follow regulations, and it’s not just securities law violations they’re looking for anymore. Most notably, any firm dealing with crypto could face serious consequences if it doesn’t have Know Your Customer and anti-money laundering standards in place.  One of the best ways to ensure that your cryptocurrency is in the hands of a company that won’t run into legal trouble is to choose one that is licensed by an internationally respected financial regulator. In addition, entrusting your crypto to a regulated entity can...
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Online Music Store Beatport to Start Accepting Bitcoin Payments, Launches Curated NFT

A major American DJ-related online music store has joined the crypto adoption frenzy by accepting bitcoin payments. Beatport is the latest firm that adopts a crypto payment gateway after signed a partnership with crypto exchange Crypto.com. Bitcoin Payment Gateway Will Be Launched in June Per Music Week , the digital music retailer will make the adoption official in June, enabling all customers to pay their subscriptions or buy tracks via bitcoin ( BTC ), processed by the Hong Kong-based crypto exchange. Robb McDaniels, CEO of Beatport, expressed its high interest in cryptocurrencies, as well as the non-fungible tokens (NFTs), considering bitcoin payment’s adoption in Beatport as a significant step in the digital music industry: When it benefits and strengthens the artist community, there is no reason to stop innovating. (…) It’s clear that, even in the midst of a pandemic, the DJ/Producer community is willing to lead the industry towards embracing new technology and innovative m...
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Coinbase delisting averted as German stock exchange resumes trading

Coinbase averted the delisting of its shares from the German stock exchange after submitting legal documents which had originally been neglected in error. The scheduled delisting of Coinbase shares from the German Deutsche Boerse stock exchange appears to have been averted. The platform announced on Wednesday, April 21, that Coinbase would be removed from the Xetra , and Frankfurt stock exchanges this week after it was discovered the cryptocurrency exchange had not submitted proper reference data for its shares. The removal date was originally touted as Friday, April 23, at the close of the day’s trading session. The Legal Entity Identifier, or LEI, code is a prerequisite for firms conducting financial transactions within the country. The stock exchange operator did state that the mix-up came down to an administrative error, amid which Coinbase supplied the wrong reference code by accident. Deutsche Boerse announced on Thursday that Coinbase had since supplied it with an official ...
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New digital dispute rules aim to keep crypto disagreements out of court

New digital dispute rules could keep smart contract disagreements out of the courts with the help of an independent arbitration tribunal. A British government-sanctioned task force has proposed a dispute resolution framework that would keep cryptocurrency and smart contract disagreements out of the courts. A 14-page report published by LawTechUK’s “U.K. Jurisdiction Taskforce” puts forward new Digital Dispute Resolution Rules that aim to provide a standardized means of dealing with smart contract disputes. Under the remit of the new rules, crypto-based disputes could be resolved without any major intervention by courts. The laws would allow for the appointment of an independent tribunal to adjudicate on matters of dispute, and any decision reached by the tribunal would be legally binding. The rules also allow for disputes to be raised without disclosing one’s identity to anyone but the tribunal, retaining some of the anonymity afforded by blockchain technology. The document also...
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Turkish crypto exchange halts trading amid reports of police raid

Thodex has gone silent since announcing a halt in trading and withdrawals. Major Turkish cryptocurrency exchange Thodex has abruptly halted trading and withdrawals amid reports of police raids, Cointelegraph Turkey reported  on Thursday. Thodex posted an official announcement on Twitter on Thursday, informing users that it has halted transactions for a period of four to five days. According to a statement, the platform stopped trading and withdrawals due to a purported partnership with “world-renowned banks and funding companies” to improve its services. Thodex said that its clients should not be worried about their investments, stating that “users will be informed regularly” during the suspension period. The exchange had previously  announced a six-hour-long maintenance break on Tuesday. The abrupt suspension of trading and withdrawals has concerned the crypto community, as the exchange has gone radio silent since announcing the interruption. Local publications spec...
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Not so safe? SafeMoon’s parabolic rally isn’t sustainable, traders warn

Traders say the Safemoon rally is not sustainable as the token sees massive volatility. SafeMoon, the token on Binance Smart Chain widely recognized as the Tiktok meme coin, is seeing massive volatility after its massive gains in the past week. According to the data from Dex.Guru, which tracks alternative cryptocurrencies on various blockchains, the price of SafeMoon dropped by nearly 50% in the last two days from $0.0000074 to $0.0000045. Does the SafeMoon rally have any strength? SafeMoon is a cryptocurrency on Binance Smart Chain that started out at a low market cap at around $50,000. The price and market capitalization of Safemoon went parabolic after growing popularity on TikTok. On Dex.Guru, the price of SafeMoon rose from $0.00000029 to $0.0000074, by more than 2,200% in merely three weeks. Safemoon 1-day candle chart. Source: Tradingview Whether there is any substance or fundamental catalysts behind the SafeMoon rally remains to be seen. On April 22, the SafeMoon...
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