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Showing posts from April 30, 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...

DefiDollar 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 DefiDollar Token (DFD) under the pair USDT/DFD on Apr 29 at 1:00 p.m. UTC. DefiDollar is a DeFi lab that aims to bring mass adoption to DeFi with a wide-ranging product suite. The first product offering to go live will be the stablecoin index – DUSD, with ibBTC and optionCoin currently in development. DefiDollar (DUSD) aspires to be a risk-insured stablecoin layer for DeFi. It is designed to provide a safe and stable way for users to hold their assets with DUSD being optimized for peg safety, yield, and diversification. DefiDollar uses DeFi primitives to stay close to the dollar mark. DUSD provides an avenue for diversifying stablecoin holdings to hedge against an event where the underlying stablecoins like Tether or DAI deviate from their peg. DUSD is collateralized by Curve Finance LP tokens. DFD is the n...

South African Women Lose Money to Crypto Scammer Who Convinced Them That Botswana Pula Coins Are Bitcoins

A group of South African investors recently confessed to losing money to a brazen scammer after he convinced them to buy and hold nearly worthless physical coins. The coins, which are denominated in the Bostwana pula currency, were initially sold to a group of South African women back in 2019 when bitcoin was only worth $3,500. However, according to a report , this con only came to light when one member of the group, who is only known as Lizet, attempted to cash out after she lost her job. Lizet explained: I lost my job and decided to sell one bitcoin since it had doubled in price (and that is when) I found out I had bought two 5 pula coins for $6,988 (100,000 rands) and now the Nigerian man who scammed us is no where to be found. Meanwhile, Lizet adds that before the women realised they were being conned, the scammer would tell them that what they were “doing is what investors call hodl” and that “when the price is right people will be fighting to purchase the coins from us.” It...

Shark Tank’s Kevin O’Leary Says ‘Bitcoin Will Always Be the Gold,’ Citing Interest From ‘All Kinds of Institutions’

Shark Tank star Kevin O’Leary, also known as Mr. Wonderful, says “Bitcoin will always be the gold,” outperforming other cryptocurrencies, such as ethereum, in the long run. He said “there are interests being brought out of all kinds of institutions” for bitcoin. Kevin O’Leary Bullish on Bitcoin Kevin O’Leary shared his thoughts about bitcoin and ether in an interview with CNBC Wednesday. While acknowledging that ether has been performing well lately, O’Leary insisted: Bitcoin will always be the gold. The chairman of O’Shares ETFs added that “Ethereum will always be the silver,” but emphasized, “that’s not a bad thing necessarily.” He did not mention other cryptocurrencies by name. While noting that there is potential upside for Ethereum as it shifts to a new model, the Shark Tank star believes that Ethereum is primarily “going to be used as a form of tracking and payment system.” O’Leary pointed out, however, that Ethereum 2.0 has the potential to be “far more green in terms of...

Cryptocurrency Exchange Hotbit Hacked: Systems Paralyzed, 2 Million Users Affected

A cryptocurrency exchange with about 2 million users worldwide announced that it has “suffered a serious cyber attack.” A number of basic services are paralyzed and the attacker tried to access the exchange’s wallets. Consequently, the platform has shut down, stating that it needs to perform a “comprehensive inspection” which is expected to last one to two weeks. Hotbit Says It ‘Suffered a Serious Cyber Attack’ Crypto exchange Hotbit announced Friday: Hotbit just suffered a serious cyber attack starting around 08:00 PM UTC, April 29,2021, which led to the paralyzation of a number of some basic services. The announcement adds that “the attackers also tried to hack into Hotbit’s wallets,” but the exchange claims that “the attempt was identified and stopped by our risk control system.” The exchange says that it is “about to exceed 2 million registered users and has a huge service system architecture of more than 200 servers online, in order to ensure security, Hotbit team will com...

Biden’s capital gains tax plan to pull crypto down to earth from the moon?

More taxes may cause short-term volatility, “but long term, you may see more demand for DeFi applications and other collateralized use cases.” There are often multiple causes for an asset’s sharp decline, but Bitcoin’s ( BTC ) 10% “nosedive,” which took place on April 22, may be blamed on the Biden Administration’s reported plan to tax capital gains at double the current rate on America’s wealthiest.  Bitcoin is habitually volatile, so one probably shouldn’t read too much into a double-digit swoon in any given week, but this might be as good a place as any to reflect upon the possible impact of the United States capital gains taxes, and taxes in general, upon the future growth of cryptocurrencies and blockchain technology. Could it hinder long-term adoption? If so, in what ways? Will the Biden plan even reach fruition, given the vagaries of U.S. politics? How, too, does one explain the mini-market eruption in the face of the mere possibility of more taxes in a single nation? W...

Hotbit crypto exchange shuts down for maintenance after attempted hack

The Chinese crypto exchange says funds are “SAFU” and that the emergency maintenance could take up to two weeks. Cryptocurrency exchange platform Hotbit has shut down all of its services after an attempted cyberattack on Thursday. “Hotbit just suffered a serious cyber-attack starting around 08:00 PM UTC, April 29, 2021, which led to the paralyzation of a number of some basic services,” a notice on the platform’s website reads. The hackers were reportedly unsuccessful in gaining access to Hotbit’s wallets but did manage to compromise the platform’s user database. Thus, the Hotbit team has advised customers to disregard any communication from entities claiming to be representatives of the exchange. With all normal operations currently paused during the ongoing maintenance, Hotbit also revealed that pending trading orders are canceled to prevent losses. Also, the exchange promised to bear any losses stemming from exchange-traded funds listed on its platform during the duration of th...

Coinbase to acquire Skew crypto data analytics platform

Some of Skew’s institutional clients include One River Asset Management and Susquehanna International Group. United States cryptocurrency giant Coinbase has acquired  institutional-grade blockchain data analytics platform Skew. Greg Tusar, vice president of institutional products at Coinbase, announced the news Friday, stating that the new acquisition will help customers make more informed trading decisions by using real-time data analytics. “We’re excited to integrate skew’s data analytics platform with Coinbase Prime, allowing our customers to track cryptocurrency spot and derivatives markets in real-time. With skew, we’ll arm professional traders with dynamic, aggregated market data, presented in a highly actionable format, all within our market leading prime brokerage,” Tusar noted. The acquisition is part of Coinbase’s broader strategy to serve institutional clients. According to Tusar, the exchange will continue to serve Skew’s institutional customers, which include One...

NFT Roundup: Drumpfs Hit the Market, Dole Takes A Bite Out of Hunger, Digitalax Introduces Fashion Hybrids, and Burgundy Wine Collectibles Arrive

The fever surrounding non-fungible tokens continues to spread as it penetrates new areas and industries. Political memes have now entered the NFT fray, Dole is fighting food insecurity with a humorous angle, Digitalax is bridging the physical and digital fashion divide, and even acclaimed wine is getting a taste for digital collectibles. Drumpfs Mint Trump’s Tweets for Charity Capitalizing on the momentum of Meme PAC’s viral presence in the American political conversation, 18-year incoming Columbia freshman and President behind the famed youth political action committee (PAC) Jackie Ni is introducing political NFTs. Through Strategic Meme Group (SMG), where Ni serves as Chief Meme Officer, unique digital political collectibles will be minted and auctioned to monetize former President Donald Trump’s tweets for charitable purposes. The so-called “ Drumpfs ,” which mark the first undertaking of SMG, will be presented as cubes with different images affixed to each side. One side of ea...

Turkey jails 6 in probe into missing Thodex crypto exchange CEO

The arrested siblings of the missing Thodex CEO reportedly own millions of dollars worth of crypto. Turkish authorities are progressing with an investigation into local cryptocurrency exchange Thodex, which  abruptly halted trading last week. On Thursday, a Turkish court jailed six suspects pending trial, including siblings of the missing CEO and senior company employees, Reuters reported . As part of a probe, Interpol reportedly issued a red notice for Thodex CEO and founder Faruk Fatih Özer, who had reportedly flown to Albania. “When he is caught with the red notice, we have extradition agreements with a large part of these countries. God willing he will be caught and he will be returned,” Interior Minister Suleyman Soylu said. Local authorities detained over 83 individuals suspected to be involved in the case amid growing concerns that Thodex was a scam after the platform halted money withdrawals. Some suspects indicated that Özer’s siblings — Güven Özer and Serap Özer —...

New Jersey County Liquidates Bitcoin Seized in 2018, Profiting Almost 300%

Individuals and companies are not the only ones who take advantage of the significant bitcoin prices surging across the board, despite recent pullbacks. In New Jersey, United States, a county yielded profits after liquidating seized cryptocurrencies during a drug investigation. Authorities Gained Control of the Cryptos in 2019 According to NBC New York , local authorities from Monmouth County got the bitcoin ( BTC ) during a raid in the context of an illegal narcotics distribution crackdown in 2018. Investigators found that such digital assets were part of the profits gained by the criminals due to its drug sales. Approximately, the county netted 300% in profits from the liquidation when BTC was exchanging hands around the $57,000 threshold, selling it at around $198,000, said the media outlet. Per the report, in 2019, the county filed a forfeiture complaint after the suspect pleaded guilty. That said, the county gained ownership of the seized crypto. Christopher Gramiccioni, the...

Uzbek presidential agency proposes legalizing domestic crypto trading

Uzbekistan wants to lift its ban on cryptocurrency purchases after barring residents from buying crypto in 2019. A major governmental agency in Uzbekistan seems to be rethinking its stance on cryptocurrencies. The National Agency for Project Management under the President of the Republic of Uzbekistan, or NAFT, issued  an official document proposing several amendments to licensing procedures for crypto trading. NAFT proposed to officially allow local residents to conduct “all types of crypto exchange trades involving crypto assets and tokens in exchange for the national currency and the foreign currency.” The authority stressed that crypto investors would trade and invest at their own risk. The proposal also aims to establish processes for the registration, issuance and circulation of digital assets, authorizing licensed crypto companies in Uzbekistan to issue their own tokens. According to official records, the proposed amendments are open to discussion until May 14, 2021. T...

100M euro digital bond was a CBDC test, says Banque de France

European financial institutions are using pilots to make a case for the digital euro. It turns out the 100 million euro digital bond issued by the European Investment Bank earlier this week was actually a trial of a European central bank-issued digital currency, or CBDC. An April 28 announcement from France’s central bank, Banque de France, revealed the digital bond was settled using a CBDC on a blockchain. The two year-bond was issued on the Ethereum public blockchain on April 27 and settled the following day, with a maturity date of April 28, 2023. The sale was led by Goldman Sachs, Santander and Société Générale. “From a technological standpoint, the experiment required the development and deployment of smart contracts under secured conditions, so that the Banque de France could issue and control the circulation of CBDC tokens and so that CBDC transfer occurred simultaneously with the delivery of securities tokens to the investors’ portfolio,” Banque de France said. The bank...

SEC enforcement chief steps down just days after appointment

The official's conduct in past litigation was brought into question by a U.S. District court judge. The United States Securities and Exchange Commission new enforcement chief, Alex Oh, has resigned from her position with the Securities and Exchange Commission just days after taking the role. According to an official SEC announcement , Oh stepped down for personal reasons. However, in Oh’s resignation letter to Chairman Gary Gensler — as seen by Bloomberg — the former enforcement chief revealed she was stepping down to avoid becoming a distraction, as she deals with controversies arising from a case she worked in the past. Oh was previously a partner at the Paul, Weiss, Rifkind, Wharton & Garrison private law practice, where she represented, among others, oil giant Exxon Mobil Corp. The case in question reportedly relates to Oh’s defense of Exxon against allegations that the firm had supported the torture and murder of Indonesian villagers. Oh’s conduct during the litigati...

Intercontinental Exchange sells Coinbase stake for $1.2B

Intercontinental Exchange has sold its 1.4% stake in Coinbase to reduce the company’s debt. Intercontinental Exchange, the operator of the New York Stock Exchange and the owner of Bakkt digital asset platform, has sold its 1.4% stake in the newly Nasdaq-listed cryptocurrency firm Coinbase. Announcing the news Thursday on a financial results call for the first quarter of 2021, ICE chief financial officer Scott Hill said that the company sold its Coinbase stake for $1.2 billion. The executive noted that the sale generated approximately $900 million net after taxes. Hill said that the proceeds were used to reduce ICE’s debt at the end of the first quarter. He noted that the company’s pro forma leverage, or total indebtedness rate, would have been closer to 3.6x compared to 4.2x when ICE acquired mortgage-focused software company Ellie Mae in September 2020. “We are definitely a bit ahead of schedule, been paying down debt faster than we sort of expected when we started the deal. I ...

We all know the issues with DeFi — but what are the answers?

High costs and transactions prioritized by gas fees often make using DeFi protocols challenging to say the least. Does it really need to be this difficult? Decentralized exchanges have indelibly changed the way that cryptocurrencies are traded. But in the grand scheme of things, the technology that’s driving these platforms is relatively young… meaning it’s inevitable that teething problems have emerged. Some of the heavy hitters that dominate the market at present are known as non-orderbook markets. While it’s tantalizing and somewhat romantic that these platforms are controlled purely by supply and demand, it often results in some unexpected downsides. There’s one glaring disadvantage that we don’t need to mention too extensively — high swap fees. We currently live in a world where it can cost hundreds of dollars to execute a small number of seemingly straightforward transactions on the best-known decentralized finance protocols. For the DeFi sector’s true potential to shine, th...

Digital Asset Marketplace Apifiny Prime Granted FINRA Broker-Dealer License Approval

On Thursday, Apifiny, a global digital asset trading and mining network, announced the company’s subsidiary Apifiny Prime has been granted a broker-dealer license from the Financial Industry Regulatory Authority (FINRA). The firm now joins the ranks of brokerage and exchange businesses like Coinbase, Etoro, and Circle. FINRA Grants Apifiny Prime a Broker-Dealer License The leading regulator that oversees American broker-dealers, FINRA has granted a broker-dealer license to Apifiny Prime. The license allows Apifiny to make private investor placements and vend securities, cryptocurrencies, stocks, and other types of financial products. Apifiny was founded by Haohan Xu in 2018 after he saw inefficiencies across global bitcoin exchanges, and said that he “took advantage of this by buying and selling bitcoin across different exchanges.” Haohan Xu detailed in the company announcement concerning the FINRA approval, that his firm has grown significantly and saw a “4x increase in monthly ...