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Showing posts from May 8, 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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Privacy-Centric Coins See Fresh Gains, Monero Captures All-Time Price High

On May 7, the privacy-centric crypto asset monero captured an all-time high at $515 per unit, as demand for confidential transactions has increased in recent times. Monero has gained more than 190% during the last three months, while a number of other privacy coins like zcash, verge, horizen, and grin have seen significant gains as well. Monero XMR Taps a New ATH Before Most Privacy Coins While cryptocurrencies have been growing wildly in value, the climate of regulation has stepped up a great deal. Governments and blockchain surveillance firms worldwide have been making themselves right at home in this industry. Interestingly, as the regulatory crackdowns increase and exchanges delist privacy coins, it has pushed demand even higher. In 2021, privacy coins have been moving northbound and on Friday, monero (XMR) touched an all-time high (ATH). Monero was conceived in 2014 and the open-source code is not a fork of bitcoin (BTC) , but a proof-of-work (PoW) digital asset based on th...
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Dogecoin dumps following mention from Elon Musk on Saturday Night Live

While the crowd seemed to enjoy his performance, DOGE traders soured on Elon Musk's shout-out. Meme cryptocurrency Dogecoin finally got its long-awaited shoutout on Saturday Night Live — but despite hodler hopes, the immediate result has been a violent dump. First teased by entrepreneur and DOGE cheerleader Elon Musk in late April, the Tesla CEO finally mentioned the digital asset on live television tonight in his opening monologue of the sketch comedy show. The reference was a throwaway line from Musk's mother, who joined him onstage and asked if her Mother's Day gift would be Dogecoin; Musk replied that it would be.  In the minutes afterwards, $DOGE dumped upwards of 25%, falling as low as $.50 from $.66 highs at the start of the show. It has since partially recovered, trading at $.52 at the time of publication. The Dogefather SNL May 8 — Elon Musk (@elonmusk) April 28, 2021 An hour before the episode began, the price of DOGE sat at $.66, down from an all-time h...
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Bitcoin Mining Operation Bitfarms to be Listed on Nasdaq Following DTC Eligibility 

The Toronto-based Bitcoin mining operation Bitfarms announced the company has been approved for a common stock listing on Nasdaq Global Market tier. The company is already listed on the Toronto Stock Exchange (TSX) and the firm’s Nasdaq listing will be listed under the ticker symbol “BITF.” Bitcoin Mining Operation Bitfarms to be Listed on Nasdaq Global Market Tier Bitfarms has announced that it will be a publicly-traded Bitcoin miner listed on Nasdaq Global Market tier. The tier platform by Nasdaq is reserved for companies who have sustainable finances and pass requirements that go above and beyond Nasdaq’s lower tiers. The company Bitfarms, which was invoked in 2017, says the Nasdaq Global Market tier acceptance “represents a powerful validation.” “The approval for listing on The Nasdaq Global Market is an incredible achievement for Bitfarms and is the fruition of multiple years of work and dedication,” Emiliano Grodzki, Bitfarms’ chief executive officer said. “Over the last fo...
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South African Regulator Apologizes to Crypto Firm After Issuing Then Withdrawing a Warning in Less Than 24 Hours

South Africa’s Financial Sector Conduct Authority (FSCA) has apologized to a Cape Town-based crypto start, Ovex, less than 24 hours after warning that the firm was operating outside the law. Ovex Does Not Require Licence From FSCA In its May 7 retraction , the financial watchdog said the findings of an investigation into Ovex, which specializes in crypto arbitrage services, suggest that the firm is operating outside the FSCA’s purview. The statement says: Based on the information provided by Ovex we are satisfied that Ovex does not currently require a licence from the FSCA, as its business activities fall outside the current jurisdiction of the FSCA. The previous media release has been retracted. Meanwhile, the FSCA’s about-face comes after its head of enforcement, Brandon Topham, was quoted in the local media defending the regulator’s initial handling of the matter. Responding to a media inquiry, Topham admitted that the issuing of the warning did not mean Ovex was “operating u...
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Citi Sees ‘Very Rapid’ Accumulation of Interest in Bitcoin — Contemplates Launching Crypto Services

Citigroup is reportedly seeing a “very rapid” accumulation of interest in bitcoin across a broad spectrum of clients, including large asset managers. The bank is now considering launching its own crypto services as a growing number of banks are offering bitcoin-related services to their clients, including Goldman Sachs and Morgan Stanley. Citigroup is reported considering launching cryptocurrency services after seeing a surge in interest from clients, the Financial Times reported Friday. While no decision has been made regarding its crypto services, the publication reported that “trading, custody, and financing are all under consideration,” citing Itay Tuchman, the bank’s global head of foreign exchange. The Citigroup executive told the publication that Citi has seen a “very rapid” accumulation of interest in bitcoin across a broad spectrum of clients, including large asset managers. The news of Citigroup considering launching crypto services came as a growing number of ma...
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Asian Auction House Phillips Will Accept Crypto at Auction for a Physical Piece of Banksy Art

The well-known Phillips Auction House has announced the company plans to accept cryptocurrency for the first time in a physical art auction set for June 7-8. Phillips will be auctioning a world-famous piece of artwork called the “Laugh Now Panel” created by the anonymous street artist Banksy. ‘Laugh Now’- Phillips to Accept Cryptocurrency at a Banksy Auction in June Whether Banksy likes it or not, his artwork has been tied to blockchain technology and sold for crypto assets in recent times. Additionally, the infamous street artist’s work was even burned after it was transferred into a non-fungible token asset. The NFT sold for more money in an auction than the physical piece itself. Phillips Auction House has decided to accept cryptocurrency for the first time during a Banksy auction on May 7-8. Phillips’ entry into the crypto space is a bit behind, in comparison to world-renowned auction houses Christie’s and Sotheby’s. In fact, Sotheby’s announced last week it was auctioning a ph...
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Dogecoin Market Cap Nears $100B, Critics Blast ‘Joke Coin,’ Community Abuzz With Rumors of DOGE Whales

The infamous meme-based cryptocurrency dogecoin is on the move again just before the upcoming Saturday Night Live episode featuring Elon Musk. While dogecoin is up 81% today a lot of cryptocurrency veterans have been warning newbies about the digital currency that was meant to be a joke. Meanwhile, others believe that dogecoin has a lot of potential, and could be a long-standing competitor in the world of crypto assets. Dogecoin Markets See a Pre-SNL Rise The cryptocurrency that literally began as a joke, dogecoin (DOGE) is nearing a $100 billion market capitalization on Saturday. DOGE is a crypto asset that was developed and launched in December 2013 by software engineers Billy Markus and Jackson Palmer. The dogecoin logo features the face of the Shiba Inu dog and the logo is popular due to the original Doge meme that went viral on the internet. Currently, the crypto asset is on a tear up 81% during the last seven days and a whopping 1,073% during the last month. DOGE/USD chart ...
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Rari Capital falls victim to $11 million exploit

Rari's RGT token is plummeting on the news. After a $11 million attack earlier today, Rari Capital is the latest decentralized finance (DeFi) protocol to fall victim to a high-priced exploit  The platform, which builds optimized yield vaults and boutique lending pools , confirmed the attack in a Tweet and said that a full postmortem is forthcoming: There has been an exploit in the Rari Capital ETH Pool related to our @AlphaFinanceLab integration. The rebalancer has removed all funds from Alpha in response. We are currently investigating the situation and a full report will be shared once everything is assessed. — Rari Capital (@RariCapital) May 8, 2021 Per whitehat hacker Emiliano Bonassi, the exploit appears to be an “evil contract” exploit, in which an attacker ‘tricks’ a contract into thinking a hostile contract should have access or permissions. Alpha Finance announced in a Tweet that the hack was related to Rari’s interest-bearing ibETH vault, but that no Alpha fu...
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Elon Musk Sees Dogecoin as ‘Stimulus for People Kicked by Pandemic’ but Says ‘Please Invest With Caution’

Spacex and Tesla CEO Elon Musk sees dogecoin as his “private stimulus for the people” that represents “legit hope for people” hit by the coronavirus pandemic. While the price of dogecoin has been pumping alongside a number of other cryptocurrencies, Musk cautioned, “Cryptocurrency is promising, but please invest with caution.” Elon Musk Sees Dogecoin as His Stimulus for the People Elon Musk has been tweeting about dogecoin and cryptocurrency investing leading up to him hosting Saturday Night Life (SNL) on May 8 with Miley Cyrus as the musical guest. Responding to a tweet on Friday suggesting that “Dogecoin was in a way Elon’s private stimulus for the people,” Musk said, “That’s how I feel about it.” The tweet includes an image of a sign that says, “Dogecoin represents legit hope for people kicked by pandemic. Change my mind.” Dogecoin’s price is currently $0.7172 at the time of writing; its market cap is $92.88 billion. The meme coin’s price has increased more than 98% this month...
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VORTECS Report: NewsQuakes boost DOGE hype, while TEL score rings a bell for traders

As the world waits for Elon Musk's Saturday Night Live appearance — and a possible nod to crypto's best friend — an exchange listing proves that real news can also propel DOGE to new heights. What can you say about Dogecoin that hasn’t been said before? How about this: Elon Musk’s tweets aren’t the only thing that let the DOGE out. This week, right in the middle of the retail trading frenzy that has turned everyone’s favorite cartoon puppy into a rabid bull-doge, Cointelegraph Markets Pro subscribers had the opportunity to chow down on a NewsQuake™ from Bitfinex, which can be seen as further exciting a rally all the way from $0.48 to $0.68. Dogecoin (DOGE) Analysis In the chart below you can see where the news was delivered to Markets Pro members via Discord and their mobile notifications (the red circle) and the immediate and dramatic price rise that followed. NewsQuakes™ are sourced from a real-time aggregation engine, collated from over a thousand primary sources eve...
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New SEC Chairman Unveils Policies for Cryptocurrencies, Calls Bitcoin ‘Scarce Store of Value’

The new chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has shared his view on how the SEC plans to regulate cryptocurrencies, particularly bitcoin. He calls bitcoin “a digital, scarce store of value” and stresses the need to put in place some investor protections for this asset class. New SEC Chairman Talks About Bitcoin, Crypto Regulation SEC Chair Gary Gensler talked about cryptocurrency policies and bitcoin in an interview with CNBC Friday. Gensler taught classes at the Massachusetts Institute of Technology (MIT) in financial technology, cryptocurrency, and blockchain technology. He was confirmed as the new SEC chairman last month. Replying to a question about how he would regulate cryptocurrencies, the chairman replied, “To the extent that something is a security, the SEC has a lot of authority.” Noting he will refer to cryptocurrencies as “crypto tokens,” the former MIT professor emphasized that “a lot of crypto tokens … are indeed securities.” ...
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Art reimagined: NFTs are changing the collectibles market

With professionals stepping into the NFT space, the market is set to mature, making digital art a part of traditional collectibles. Art has been serving as the ultimate source of inspiration to many people throughout all of history. In the era of cryptocurrencies and the digitized world, trends change faster than ever. For years, numerous artists have tried stepping into rapidly advancing playgrounds and grabbing their slice of pie, but now their time has truly come. The NFT fever has quickly taken over the industry, turning digital artists and popular meme creators into rich celebrities. It’s hard to estimate when this euphoria will run out of steam, but before the hype train stops, we’ll surely see more market records and thrilling experiments in this area. Related: NFT trading cards: A new way to own collectibles or an asset bubble? From a few pennies to a fortune The market cap of nonfungible tokens , or NFTs, shows fast-moving developments, growing nearly tenfold between 2...
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$85 million ‘Meebits’ NFT project exploited; attacker nabs $700,000 collectible

The team has paused minting, and will have to use a manual workaround to prevent further exploits. Legendary NFT developers Larva Labs were the victims of an exploit this morning, as an attacker found a way to mint a rare NFT worth over $700,000 from the “Meebits” collection.  The attacker, 0xNietzsche, teased the exploit on Twitter this morning, saying he anticipated making “$300,000 per hour” throughout the duration of the attack. He has since deleted the Tweets, saying that they came off as “douchey.” Definitely sent out some regrettable tweets in the last few hours. After coming down & processing it all they do sound VERY douchey. — 0xNietzsche (@0xNietzsche) May 8, 2021 His attack essentially centered on “rerolling” his Meebit mints until the contract gave him one he wanted. The Meebits contract includes a zipped Interplanetary File System file, one which reveals the characteristics of each Meebit’s ID. The IDs of the remaining Meebits are public knowledge, but unt...
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US Authorities Seek Court Order to Shut Down Crypto Trading Platform Allegedly Duping Thousands of Investors

New York Attorney General Letitia James is seeking a court order to immediately shut down the operations of cryptocurrency exchange Coinseed. The attorney general previously filed a lawsuit against the crypto exchange but the platform allegedly continued to operate and dupe investors. US Authorities Take Urgent Action Against Coinseed The Office of Attorney General Letitia James announced Friday that the attorney general “has taken legal action to immediately halt the continued illegal and fraudulent operations of the cryptocurrency trading platform Coinseed Inc.” A motion was filed late Thursday “asking the court for a temporary restraining order, a preliminary injunction, and the appointment of a receiver to immediately block Coinseed and its CEO from making any further unauthorized trades and safeguarding investors’ monies,” the notice reads. The receiver will “oversee all assets in an effort to safeguard investments as Attorney General James’ lawsuit proceeds.” James filed a l...
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As Bitcoin’s payment options grow, BTC true future role up for debate

Declaring BTC a store of value — e.g., gold 2.0 — but not a medium of exchange, defies logic. It must first have a use case. In an August 2020 paper “Is bitcoin money?” Peter Hazlett and William Luther wrote that there exists only “a small corner of the internet where transactions are routinely conducted with Bitcoin serving as the medium of exchange.” But that corner may be growing into a room, or even a house now.  “Demand for Bitcoin has certainly grown over the last year,” co-author Luther, assistant professor of economics at Florida Atlantic University, told Cointelegraph in a recent conversation. “As new users find themselves with Bitcoin, and existing users find themselves with more Bitcoin, it’s only natural that more people will consider using it to make payments.” Others see a recent rise in crypto payment options. “Definitely,” Joanna Wasick, a partner at law firm BakerHostetler, told Cointelegraph, adding: “More people are owning cryptocurrencies, and more companie...
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