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Showing posts from April 29, 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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Australian senate committee calls for national blockchain land registry

Australia’s senate committee on technology and finance wants lawmakers to establish a national blockchain land registry. An Australian senate committee has published a report calling for a blockchain-based national land registry, better clarity over laws relating to smart contracts, and continued efforts to establish international standards for DLT. The Select Committee on Australia as a Technology and Financial Centre's second interim report offers 23 recommendations spanning blockchain, consumer data, and corporate taxation. Five recommendations deal specifically with blockchain and digital assets, including that the Council of Financial Regulators Cyber Working Group takes into account international data standards. The committee recommended that National Cabinet consider supporting a blockchain-powered national land registr y as a pilot project for Commonwealth-State cooperation on “RegTech’ to highlight ways to streamline administrative processes in both the public and pr...
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Metis: First Ever Community-Minted NFT Attracts Buyers With an Early Bid of 7 ETH

PRESS RELEASE. The first ever community-minted NFT launched at OpenSea this week, attracting a bid of 7 ETH for this historic event and giving 256 lucky users the opportunity to share the proceeds of the NFT auction with the artist. That large bid is the latest stage of a highly popular campaign, one that saw the opening rounds of NFT minting happen in a matter of minutes, instead of the expected span of five days. More than 12,000 clients enrolled wallets to the MetisDAO.org website as part of the NFT contest. The NFT is named “Rebuilding the Tower of Babel”, connecting the idea of the old Biblical Babylonian tower and its mission of uniting people around the world who speak different languages with the city of the future and the huge potential of blockchain technology. Bidders can bid on the NFT from now until the auction’s end Monday, May 3 at 1:53 pm UTC. Elena Sinelnikova, CEO and co-founder of Metis, said the venture shows the spirit of collaboration that a community-m...
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The Benefits of Coupling Ethereum With Bitcoin Cash: Smartbch Sidechain Testnet Is Now Public

On Thursday, the Smart Bitcoin Cash team announced the launch of the Smartbch testnet explaining that developers and decentralized app makers can now experiment and develop with the high-performance, EVM-compatible Bitcoin Cash sidechain. Further, Bitcoin.com News spoke with Wang Kui the lead developer of the Smartbch project. The Smartbch tech lead told our newsdesk about the inner workings of the sidechain that can connect with the Ethereum network. Testnet for Smart Bitcoin Cash, a Bitcoin Cash Layer-2 Project Is Live During the last few weeks, the Smartbch project has been a topical conversation within the Bitcoin Cash (BCH) community. The reason for these conversations is because the Smartbch team has revealed a project that is EVM and Web3 compatible, but far cheaper in terms of transaction fees. This is because the Smartbch project is a sidechain built on Bitcoin Cash and it leverages the BCH chain’s lower transaction fees. Bitcoin.com has reported on the project on a few...
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Bitcoin mining in China set for 'stricter supervision' due to carbon concerns

China is reportedly paying more attention to the crypto mining sector, amid concerns of its growing carbon footprint. China’s crypto mining operations may be set for stricter supervision in the future, with the Government reportedly concerned about the energy consumption of Bitcoin mining in particular. Beijing sent an “emergency notice” to conduct checks on data centres involved in Bitcoin and other cryptocurrency mining operations on April 27, which was reportedly met with some panic in China. However Chinese columnist Colin Wu or Wu Blockchain on Twitter, was quick to downplay fears of how this could impact Chinese Bitcoin miners in the short term, noting that: “This caused some panic in China. However, the Chinese government said it was only conducting an investigation. Data centers are difficult to use for Bitcoin mining, and are mainly used for ETH Filecoin.” According to Chinese state media PengPai (accessed via translation), the “emergency notice” was routine work for ...
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Fidelity launches institutional cryptocurrency analytics platform Sherlock

Sherlock will provide fundamental and technical analysis for fund managers and investors. Asset management giant Fidelity is delving deeper into the digital asset space with the announcement of an analytics platform called Sherlock. In an announcement on April 29, Fidelity Investments — which has $10 trillion assets under management — unveiled a digital assets data and analytics solution to assist institutional investors and fund managers. The platform, dubbed Sherlock, will be similar to Bloomberg’s Terminal and will collate data on fundamental and technical analysis, blockchain data, market data, social sentiment analysis, and industry news into one portal. It will include research on crypto assets from some of the leading institutional data providers, in addition to unique analytics to help investors evaluate the market, according to the announcement . The new platform will compete against existing solutions from companies such as Messari which was launched in 2018 to provide ...
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BNY Mellon fund laments: ‘We should have bought Bitcoin, not gold'

SEC filings show that America’s oldest bank has attributed the underperformance of its small-cap ETF to failing to buy MicroStrategy shares after the firm invested heavily in BTC. U.S.-based financial institution BNY Mellon, the world’s largest custodian bank and asset servicing company, states that the recent performance of one of its exchange-traded funds, or ETFs, was significantly impacted by its lack of exposure to companies investing in Bitcoin. The BNY Mellon Opportunistic Small Cap Fund (DSCVX) gained 35% from September 1, 2020, through February 28, 2021, underperforming its benchmark, the Russell 2000 Index — which produced roughly 41.7% over the same period. Filings with the U.S. Securities and Exchange Commission indicate the firm laments not purchasing shares in leading business intelligence firm MicroStrategy (MSTR) — which invested billions into Bitcoin last year, holdings that have since grown to more than $4.8 billion. The filings state: “Fund performance was hurt...
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Bitcoin vs Ethereum: Investment Bank JPMorgan Explains Why ETH Is Outperforming BTC

Investment bank JPMorgan has published a report explaining why ether is outperforming bitcoin. Citing several key reasons, the firm concluded that “there is evidence of more resilient liquidity, less reliance on derivatives markets to transfer and warehouse risk, and more durable underlying demand base – for now at least.” JPMorgan Says Ether Outperforms Bitcoin JPMorgan published a report on Tuesday entitled “Why is ETH outperforming?” The analysts with the firm’s Fixed Income Strategy for the U.S. wrote: In recent days, one of the more interesting developments in cryptocurrency markets has been the outperformance of ether ( ETH ) relative to other tokens. Noting that bitcoin is “more of a crypto commodity than currency,” JPMorgan said that “ ETH is the backbone of the crypto-native economy and therefore functions more as a medium of exchange.” The analysts then asserted that “To the extent owning a share of this potential activity is more valuable … ETH should outperform BT...
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Nvidia again limiting crypto mining on its RTX-3060 gaming graphics card

After accidentally unlocking its own hash rate limiter in a driver update, Nvidia has announced it will lock new cards again by reducing the mining capacity by 50%. Graphics card giant Nvidia is quietly reintroducing a hash rate limiter on its RTX 3060 series graphics cards in an effort to disincentivize cryptocurrency miners. On April 29 the company issued the GeForce 466.27 driver that reintroduces RTX 3060 cryptomining limiter. GeForce 466.27 driver release notes, Source: Nvidia According to sources reported by computer news site Videocardz , Nvidia will release the new ‘Lite Hash Rate’ models in mid-May which will be almost identical to previous versions of the same cards. The gaming giant had originally limited the hash on the previous models, reducing mining performance by 50%. Matt Wuebbling , head of global GeForce marketing at Nvidia, said in a blog post in February: “We designed GeForce GPUs for gamers, and gamers are clamoring for more.” Hackers first came up wi...
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$400M gaming VC fund Bitkraft teams up with Delphi on blockchain gaming

The collaboration will seek investments in the gaming and blockchain industry. Gaming-focused venture capital fund Bitkraft Ventures has partnered with crypto industry research firm Delphi Digital in order to invest in related projects. The collaboration, announced on April 29, will allow Bitkraft to increase its focus on investments in firms that use blockchain technology in addition to crypto assets and economics. Bitkraft was founded in 2015 and has more than $400 million in assets under management with more than 50 investments in companies such as Epic Games, BitFry, and Fuze TV. In August 2020, the company raised $165 million to invest in digital gaming and e-sports and it is now betting big on crypto and blockchain. Founded in 2018, Delphi Digital is an institutional-grade research firm focused exclusively on crypto and digital assets. The two companies intend to combine their collective expertise in gaming, e-sports, digital entertainment, crypto technology, and the crypt...
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Task Force Pushes Biden Administration to Tighten Cryptocurrency Regulation

A public-private task force has submitted a report to the Biden administration that includes recommendations to tighten the regulation of cryptocurrencies, including bitcoin, with the aim to combat ransomware. “The cryptocurrency sector that enables ransomware crime should be more closely regulated,” the task force wrote. White House Urged to Tighten Crypto Regulation A task force, organized by the Institute for Security and Technology, submitted a report entitled “Combating Ransomware” to the Biden administration Thursday with 48 recommendations, some of which aim at tightening crypto regulation. The recommendations were developed by the Ransomware Task Force (RTF), which the report describes as “a broad coalition of volunteer experts from industry, government, law enforcement, civil society, cybersecurity insurers, and international organizations.” Its goal is to “provide a strategic framework for a systemic, global approach to mitigating the ransomware problem.” The report clai...
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Our Man in Shanghai: Huobi looks to become Grayscale of Asia, Yao Ming’s NFT wine, and Chinese crypto investors go to the dogs

Huobi tackles the institutional market, you can now own an NFT of basketball star Yao Ming drinking red wine, and China’s digital yuan starts to target the private sector Huobi Asset Management is looking to be the Grayscale of Asia with the launch of four cryptocurrency related tracker funds . The funds include a Bitcoin Fund, an Ethereum fund, a multi-asset basket of digital currencies, and a private equity fund for mining businesses. The aim is clearly to entice major institutional investors into the space with a product that feels familiar. The fund and asset management company is set up in Hong Kong, even though Huobi maintains several offices within the mainland. Huobi is China’s most established exchange and ranks second on the global liquidity rankings behind Binance. DOGEmania continues High volumes and volatility continued on the world’s most popular memecoin. On April 28th, searches on WeChat for the Chinese version of ‘Dog-coin’ were up over 65% from the previous day. S...
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Ripple wants go public after settling SEC lawsuit, SBI CEO says

The largest outside-Ripple shareholder believes that the XRP-related firm will go public shortly after settling its lawsuit with the SEC. Major cryptocurrency company Ripple has not given up on its plans to go public despite its ongoing legal battle with United States regulators, according to SBI Group’s CEO. Yoshitaka Kitao, CEO of Japanese financial giant SBI Group, claimed that Ripple plans to become a public company after the firm settles a legal action brought against it by the United States Securities and Exchange Commission. Speaking on a Wednesday earnings presentation call, Kitao  said  that both Ripple CEO Brad Garlinghouse and executive chairman Chris Larsen are planning to take Ripple public: “After the current lawsuit, Ripple will go public. The current CEO wants to do that. Chris wants to do that.” Kitao said that SBI’s investment in Ripple would pay off following a potential public listing, noting that SBI is the largest outside shareholder of Ripple....
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DeFi hacks and exploits total $285M since 2019, Messari reports

Decentralized finance platforms on the Ethereum network have lost about $285 million to rogue actors since 2019. Decentralized finan’s rising popularity since 2019 has seen the emerging market segment become a target for hackers and opportunistic profiteers. According to a report by crypto research company Messari, DeFi protocols have lost about $284.9 million to hacks and other exploit attacks since 2019. This figure is about 0.65% of the adjusted total value locked of the Ethereum-based DeFi market, according to data from DappRadar. In February Messari calculated that over $284 million in DeFi was lost to hacks since 2019 At this point in time, the decentralized insurance industry only covers a fraction of TVL in DeFi. The need is ripe for the picking. pic.twitter.com/WkZVI0TuWb — Messari (@MessariCrypto) April 28, 2021 Almost half of the DeFi hacks covered in the Messari report were flash loan attacks, providing further evidence of it being the most popular exploit vecto...
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Swiss Stock Exchange SIX and Borse Xetra list physically backed Ether ETP

The New York-based exchange-traded product sponsor and asset manager WisdomTree has launched a physically backed Ether ETP on Borse Xetra and SIX. New York-based exchange-traded product sponsor and asset manager WisdomTree is expanding its digital assets range with the launch of a new Ether ( ETH ) exchange-traded product on two European stock exchanges. Borse Xetra and Swiss stock exchange SIX have both listed WisdomTree’s ETP, which provides investors with exposure to the native currency of the Ethereum blockchain without having to hold the asset directly nor to interact with its blockchain infrastructure at all.  WisdomTree presents the product as an offshoot of “traditional financial infrastructure and product structuring,” with the provision of institutional-grade storage solutions for investors that remove the need for dealing with custodians directly themselves. The Ether ETPs, which trades under the ticker ETHW, has a total expense ratio of 0.95% on both Borse Xet...
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Bitcoin set to close first ‘red’ April in 6 years as Ethereum keeps hitting all-time highs

BTC/USD is set to end the month around 8% down, the first such losing streak since 2015 despite an even more impressive Q1 performance. Bitcoin ( BTC ) may not be worrying analysts with its latest price dip, but it will likely close its first negative month of April in six years this week despite hitting a new all-time high two weeks ago. Data from monitoring resource Bybt shows that at -8.3%, April 2021 is Bitcoin’s worst April on record and the first since 2015 to make a loss. A Bitcoin April like few others The performance contrasts that of March, traditionally a “bad month” for Bitcoin but which this year conversely saw gains of nearly 30%. With Q1 likewise seeing three straight months of upside — something that has not happened since 2013 — 2021 continues to buck multiple BTC price trends. Bitcoin monthly returns comparison. Source: Bybt At the time of writing, with less than two days to go until May, BTC/USD traded at around $54,600, having briefly spiked to $56,200 o...
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County in New Jersey makes 250% profit from crypto seized in 2018

County authorities captured the cryptocurrency during a 2018 drug bust in Long Branch. A county in the state of New Jersey has announced the liquidation of cryptocurrency assets seized in 2018. On Monday, the prosecutor’s office in Monmouth County announced  that the confiscated crypto —initially valued at $57,000 at the time it was seized — was liquidated on Coinbase for $198,237 at a quote “profit” of $141,000. Authorities captured the cryptocurrency during a 2018 drug bust in Long Branch. The assets were frozen on a United States-based crypto exchange once officials determined them as profits secured from illegal drug sales. Monmouth County Prosecutor Christopher Gramiccioni said that the county is the first state-level agency to complete the forfeiture and liquidation of cryptocurrency assets. “This will serve as an effective template for the state law enforcement agencies in the cryptocurrency market — a place where we can expect proceeds from crimes to continue to be con...
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UK revenue authority to target cryptocurrency tax evaders

The U.K. tax authority is trying to crack down on wealth hidden in “unsanctioned” currencies. Her Majesty’s Revenue and Customs, the tax authority of the United Kingdom, will ramp up its efforts to snare cryptocurrency tax evaders in an attempt to uncover what it regards as hidden wealth, says U.K. accountancy group UHY Hacker Young. According to the group, the “statement of assets” form that is used in tax evasion investigations will now include a section focused specifically on cryptocurrencies, such as Bitcoin ( BTC ), Ether ( ETH ) and others. Along with explicit demands for information on crypto holdings, the form will also reportedly include sections dedicated to other systems of exchange, including the black market peso used by Mexican and Colombian cartels, along with similar unsanctioned currencies used in Africa, India and China. “HMRC suspects that an increasing amount of hidden wealth is slipping through its fingers thanks to the rise of cryptocurrencies and other unsa...
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Venezuelan Programmer Who Created the Petro Token Regrets Participating in the Project — Works on an Alternative Token

Venezuela’s government-backed cryptocurrency is not having the acceptance its cabinet expected, as the latest reports suggest. The petro’s creator, who now lives in exile, wants to build another crypto that gets the adoption its original creation did not in the nation. Jiménez Believed the Petro Could Have Given Venezuelans a ‘Measure of Freedom’ Per a report published by Deutsche Welle, Gabriel Jimenez, a 31-year-old-programmer, is looking to pursue a “cryptocurrency revolution” in Venezuela with Reserve, a brand-new token he created. Jimenez – now residing in the United States – is not a stranger to the crypto community, nor Nicolás Maduro’s government, as he was once commissioned to create the state-backed petro (PTR). Interestingly, he wasn’t a fan of the government, as he actively participated in the street protests against Maduro. However, Jiménez thought that creating the petro token was an excellent idea to give Venezuelans “a measure of freedom” by bypassing U.S. financi...
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Polygon’s New $100M Fund Aims to Attract Next Million Defi Participants

As part of its ongoing efforts to make the decentralized finance ecosystem more accessible through infrastructure development, this layer2 scaling solution has introduced a $100 million fund designed to lower the barriers to entry for yield farming and lending. #Defiforall to Support Development Over Next 2-3 Years Decentralized finance (defi) has emerged as one of the most explosive blockchain developments over the past year as new products and services offer a new means for token holders to monetize their crypto holdings. The push has been so extreme that the total value locked (TVL) in defi protocols has crossed back above $60 billion , trending just shy of the record amount reached mere weeks ago. Yet, defi remains one of the most complex areas of the blockchain universe for newcomers as the steep learning curve and high capital requirements push more minor participants to the fringes. Enter Polygon, an Ethereum scaling and infrastructure development solution. Formerly known a...
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Top Korean crypto exchanges reopen brick-and-mortar customer centers

Both Coinone and Bithumb have reopened their customer centers in the capital city in response to a surge in domestic interest in cryptocurrencies. Coinone, one of South Korea's top four cryptocurrency exchanges, has reopened its offline customer center in Seoul. According to a report from The Korea Herald on April 29, the center was initially opened back in September 2017 but had since been closed due to a company decision to focus on other business activities. Now, having seen new crypto exchange user registrations increase at a rate of 20 times above usual in the first quarter of this year, the exchange is resuming its offline services for customers. As of the end of this month, the Herald reports that Coinone has close to 2 million users in total.  In addition to reopening an offline center, Coinone is reportedly doubling its staff to help meet the demands for information and assistance from a swath of new customers. This trend toward resuming in-person customer services a...
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Beijing investigates crypto mining farms to improve energy efficiency

Bitcoin's electricity bill has been attracting the attention of regulators worldwide. Beijing authorities are reportedly conducting inspections of crypto mining data centers to better understand their impact on energy consumption, Reuters reports Thursday. The Beijing Municipal Bureau of Economy and Information Technology on Tuesday sent an emergency notice to the city’s data center operators asking them to report whether they are involved in mining Bitcoin ( BTC ) and other cryptocurrencies. The notice required data centers to report the amount of power consumed by crypto mining, the report notes. A bureau official said that notice recipients include China’s top-three telecom operators. He noted that he was not aware of the reason behind the initiative, or whether it is part of a nationwide campaign. The news comes amid a recovering Bitcoin hash rate, which experienced a major drop in mid-April due to massive power outages in the Chinese mining hub of Xinjiang. After tumbli...
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