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Showing posts from April 23, 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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Crowny Listing on AscendEX

PRESS RELEASE. AscendEX, formerly BitMax, an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the listing of the Crowny Token (CRWNY) under the pair USDT/CRWNY on Apr 21 at 1:00 p.m. UTC. Crowny has created a new platform by aligning blockchain and digital assets with the world of advertising. The platform will allow brands to develop effective campaigns to reach audiences who are enticed to listen to their messages. Users will be able to connect to their favorite brands through a smartphone application without the risk of privacy breaches. It has become a challenge for brands to reach and interact with their potential customers through digital and traditional media. The Crowny proposition brings the right tools to help advertisers reach customers with ease while rewarding the customers with tokens for engaging with ads. Rewards play a key role on the Crowny platform driving users to interact with brands. Crowny offer...
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Former Employees From Major South Korean Firms Quit Their Jobs After Pocketing Millions in Crypto Profits

South Korea’s crypto-sphere has been witnessing a volatile environment in terms of regulatory moves, as bitcoin prices and other altcoins are also having wild moves. Such a scenario hasn’t stopped the country’s middle class to profit from the crypto market, even with very successful stories. One of the Interviewees Risked His Life Savings in Cryptos According to a report published by TV network JTBC, employees from major companies such as Shinhan Card, Samsung, and LG Electronics claimed they collected enough profits to quit their jobs. Testimonies featured in the video report show that the individuals managed to collect millions of dollars worth of cryptos. One of them, a former Shinhan Card worker, told JTBC that he managed to gain almost 3 billion won ($2.7 million) but clarified that he took a high-risk move by achieving such astonishing profits. In fact, he invested his life savings and some loans onto crypto trades, and after he earned the millionaire amount in profits, he...
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Bitcoin’s Market Dominance Slides to 50%, While Ethereum’s Valuation Climbs Higher

Bitcoin dominance, the metric that measures bitcoin’s overall market capitalization against all the other crypto asset valuations has dropped considerably in recent weeks. At the end of February, bitcoin dominance levels started sliding downward from 61% to today’s 50%. Meanwhile, from the same point in time ethereum’s market capitalization has increased from 11.8% to today’s 14.5% . Bitcoin Dominance Sinks to 50% Ever since the birth of alternative crypto assets, people have used a metric called bitcoin ( BTC ) dominance, a measurement that records BTC ’s entire capitalization against all the market capitalizations held by other coins. Interestingly, minus a few small dips, BTC ’s dominance was above the 80% range from the day it was conceived to February 2017. BTC /USD hourly chart on April 23, 2021. During the first week of January 2018, BTC ’s dominance dropped to an all-time low of 33%. This year, bitcoin dominance levels have been mostly above the 60% region and in Januar...
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Bitfarms Partners With Foundry, Joins US Mining Pool, Fleet Expands by 2,465 Bitcoin Miners

On April 23, the publicly listed mining operation Bitfarms revealed a partnership with the Digital Currency Group (DCG) subsidiary Foundry Digital LLC. Bitfarms will be joining Foundry’s American mining pool and the two bitcoin mining firms have revealed the joint purchase of 2,465 Whatsminer M30S ASIC mining machines. Bitfarms Partners With Foundry’s US Operations At the end of March, the mining company Hut 8 explained that the bitcoin mining operation was joining Foundry’s U.S. mining pool. At the time, Hut 8’s CEO Jaime Leverton explained that “having a formidable bitcoin mining pool based and operated entirely in North America is important.” Now another mining operation has announced a partnership with the DCG-owned Foundry as Bitfarms (TSXV:BITF) explained on Friday it was joining the company’s U.S. operations. The two companies disclosed the joint purchase of 2,465 machines and 1,465 were previously installed in Bitfarms’ Sherbrooke facility for hosting purposes. The comp...
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Analyst enters $32.5K Bitcoin buy order as hodlers bet on $46K BTC price bottom

Peter Brandt is bracing for bigger price drops as technical indicators suggest bulls will yet be spared an apocalyptic crash. Bitcoin ( BTC ) is expected to dip as low as $32,500 in the short term after several crucial support levels faded to nothing on April 23. BTC/USD hit lows not seen since early March on Friday, as analysts line up their prognoses — and buy orders — in the latest Bitcoin price correction. Brandt plans to buy Bitcoin at $32,501 BTC pullbacks tend to frighten new investors, while old hands seem to battle each other for who can put on the coolest persona as the numbers fall. As the largest cryptocurrency fell through $53,000 and then $50,000, however, signs of bearishness for the short term began to surface. For veteran trader Peter Brandt, well known for calling various BTC price phenomena in recent years, there was still much more room left to buy the dip. So much so that he revealed he had scheduled a buy order at just $32,501. I have entered orders ov...
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Seoul government seizes $22M worth of crypto from tax evaders

The City of Seoul becomes the first city in South Korea to confiscate cryptocurrencies owned by tax delinquents. The city government of South Korea’s capital Seoul has announced the seizure of cryptocurrencies worth 25 billion won ($22 million) from individuals and company heads. According to a report by The Korea Times, the confiscated crypto came from people identified as tax delinquents by the city’s tax collection agency. As part of the investigation, the Seoul office of the National Tax Service identified 1,566 individuals and company heads with overdue taxes. The NTS office in Seoul then proceeded to seize $22 million in virtual currencies held by 676 of them in three crypto exchanges. With mandatory real-name crypto trading in South Korea , government agencies can requisition customer trading details from cryptocurrency exchanges. Businesses also have to comply with strict crypto transaction reporting requirements or see their executives face jail time. According to the ...
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Tether gets Coinbase’s seal of approval, will list on pro offering

Coinbase seems to be signaling that the Nasdaq-listed crypto exchange is not concerned about the stablecoin's regulatory issues. The United States’ largest cryptocurrency exchange, Coinbase, is listing Tether ( USDT ) on its professional trading platform. According to a Thursday announcement , Coinbase Pro has enabled USDT deposits ahead of the trading launch scheduled for April 26. The company said that trading will begin if liquidity conditions are met, stressing that Coinbase only supports ERC-20 USDT running on the Ethereum blockchain. “Once sufficient supply of USDT is established on the platform, trading on our BTC-USDT, ETH-USDT, USDT-EUR, USDT-GBP, USDT-USD and USDT-USDC, order books will launch in three phases, post-only, limit-only and full trading,” Coinbase wrote. Coinbase emphasized that USDT is not yet available on its retail trading platform Coinbase.com nor on its consumer mobile apps. “We will make a separate announcement if and when this support is added,” Co...
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Nigerians Shun Local Currency— Seek to Protect Wealth From Inflation and Currency Depreciation with Foreign Currency

Nigerians are thought to be accumulating foreign currencies which they believe will protect their wealth from the naira’s volatility as well as the surging inflation. Further, as a research paper in a journal published by the Central Bank of Nigeria (CBN) found, Nigerians’ use of dollars exceeds IMF’s 30% threshold. Exchange Rate Volatility and Currency Substitution According to a report , this preference for foreign currencies (or currency substitution as CBN economists call it) however, needs to be contained in order to maintain the effectiveness of the central bank’s monetary policy. Remarking on the importance of curbing this currency substitution phenomenon, three CBN economists said: Higher real-exchange rate volatility is associated with an increased level of currency substitution. (Therefore) there is a need to contain “exchange-rate volatility and inflation as a way of curbing the spate of currency substitution in the country. Meanwhile, the report also quotes the econo...
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New ASEAN blockchain consortium targets cross-border cooperation

The new ASEAN Blockchain Consortium aims to engage with regulators to ensure compliance and raise industry awareness. Blockchain associations from Australia and five Southeast Asian nations are joining forces to promote blockchain development and education. Blockchain organizations from Australia, Singapore, Malaysia, Thailand, Indonesia and the Philippines signed a memorandum of understanding Thursday to promote blockchain collaboration in the Asia Pacific, Business Times reports . Initiated by Blockchain Association Singapore, or BAS, the MoU aims to engage with regulators to ensure legal compliance alongside raising industry awareness and education through a new blockchain consortium called the ASEAN Blockchain Consortium, or ABC. The ABC includes BAS, Blockchain Australia, Distributed Ledger Technology Association of the Philippines, Malaysia’s Labuan International Business and Financial Center, Thailand Digital Asset Operators Trade Association, and Asosiasi Blockchain Indone...
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Bitcoin price 'relief' move to $47K pushes BTC below stock-to-flow trajectory

The creator of the stock-to-flow models, PlanB, says that Bitcoin is still acting "like clockwork" with regard to the their predictions. Bitcoin ( BTC ) may be making long traders miserable but one bullish analyst says that he is "relieved" that it has shed 22% in a week. In his latest social media update, quant analyst PlanB noted that the price dip to under $48,000 has sent BTC/USD below its target laid out by his stock-to-flow price model. "Astonishing" stock-to-flow gets it right again As such, Bitcoin is no longer "front-running" stock-to-flow, which is traditionally a highly accurate price forecasting tool. After trading above its required level, PlanB suggested that he had become concerned progress was becoming inorganic. "I am sort of relieved btc price is now under s2f model value again," he wrote in a conversation with "The Bitcoin Standard" author Saifedean Ammous, who called its predictions "astonishing...
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National Court of Spain Takes the Investigation of the Alleged Ponzi Crypto Scheme Arbistar

The investigation against an alleged major Spanish Ponzi crypto scheme will now be in charge of the National Court of Spain. A judge from the national legal instance is now taking the investigation of Arbistar after the inhibition of a judge in Tenerife. Economic Damages Could Reach Over $120 Million According to El País , judge José Luis Calama agreed to investigate Arbistar 2.0 SL, as victims of the alleged scam are almost 1,127. Still, authorities believe the number could be as high as 32,000. As a worrisome fact for the judge, said El País, the amount of money stolen on the alleged Ponzi crypto scheme could be over 100 million euros ($120 million). However, law enforcement has accounted for over 41 million euros ($49.26 million) in damages as of press time. That said, Calama pointed out that Arbistar could be the “biggest scam in Spain” related to cryptocurrencies, considering that the bogus crypto trading bots platform allegedly had victims in 30 of the 50 Spanish provinces. ...
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Turkish police detain 62 over alleged $2B Thodex crypto exchange fraud

After major Turkish crypto exchange Thodex abruptly halted trading amid fears of a possible exit scam, police have already detained 62 people across eight provinces and issued detention warrants for 16 more. Turkish police have detained 62 people as they continue to investigate an alleged exit scam potentially affecting 391,000 crypto exchange users and roughly $2 billion in investments.  Yesterday, Cointelegraph reported that the major Turkish crypto exchange Thodex had abruptly halted trading and withdrawals amid reports of police raids . Today, in addition to the 62 already detained across eight Turkish provinces, police have issued detention warrants for a further 16 people, according to the Associated Press. Istanbul's chief prosecutor’s office yesterday announced it was opening a probe into the case following complaints from Thodex users who had lost access to their assets. Rumors have since been rife that Thodex owner Faruk Fatih Ozer has fled the country with...
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Bitcoin greenwashing? Lawmakers want clearer definitions of green energy

U.K. legislators want clearer definitions applied to green energy usage to combat the rise of financial “greenwashing.” Legislators in the United Kingdom have asked for greater regulatory powers to combat the rise of financial “greenwashing” — a deceptive practice where a company overstates or fabricates the extent of its green energy usage. A report by the House of Commons cross-party Treasury Committee urges the U.K. government to sharpen its definition of environmentally conscious investments and to consult on the prospect of attaching “green labels” to financial products. The report notes that “green” claims attached to financial investments are often exaggerated, and can fail to align with customer expectations: “It is clear that in some cases the labels or descriptions of 'green' or 'climate-related' indices do not necessarily match legitimate consumer expectations of what they would commonly be understood to mean.” The rallying call by legislators came on t...
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NFT Weekly Roundup: Polygon’s Sustainable Minting, Oscars NFTs, And, Yes, Poop Emoji NFTs

As another busy week comes to an end, the NFT universe witnessed many new developments. From Polygon teaming up with leading brands to unique new collectibles up for grabs – here are the top NFT news bytes of the week. Polygon to Offer A Sustainable Way of Minting NFTs NFT creation platform Cent will integrate Polygon with its Valuables platform to offer sustainable minting solutions. The company is already using Polygon’s blockchain solutions to mint NFTs while lowering the environmental impact by 99%. As of now, NFT transactions are processed via a Proof-of-Work (PoW) consensus mechanism, requiring the consumption of enormous computational resources to mine each transaction. However, Polygon changes this by utilizing plasma with its Proof-of-Stake (POS) sidechain called Matic POS, powering much higher speed and lower cost transactions. Nomine(eth) Launches NFT For 2021 Oscar Nominees Hollywood’s biggest award show, the 2021 Oscars, is just around the corner. To celebrate th...
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