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Showing posts from May 18, 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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Crypto Meets Chess in Coinbase Sponsored Cryptochamps Tournament

Chess.com, one of the most popular chess internet sites, has announced it will host a contest called “Cryptochamps,” a crypto-themed chess tournament. The event, which will be sponsored by Coinbase, will feature several important cryptocurrency personalities and will offer prizes that will be donated to charity next month. Crypto Meets Chess at Cryptochamps Chess.com , the largest chess-playing site on the internet, just announced it will host a new cryptocurrency-themed tournament called Cryptochamps. Powered by Coinbase, the online event will pit important crypto influencers and other characters against each other starting June 12. Some of the participants of the tournament include known Bitcoin influencer Anthony “Pomp” Pompliano, founder and CEO Of Optimism Jing Wang, co-founder of Paradigm Matt Huang, Coinshares CSO Meltem Demirors, Civic CEO Vinny Lingham, and the crypto podcaster Peter McCormack. The influencers will compete for a total prize of $25,000 that will be donated...
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Nifty News: Earn NFTs watching TV, DAO pays $1M for Aoki and 3LAU track ... and more

Jenny DAO paid Aoki and 3LAU $1 million to create an NFT, as comedy icon Steve Harvey drops NFTs for charity. Blockchain-based streaming service Sator has developed a decentralized app that will enable users to earn NFTs, tokens and “other rewards” by watching TV and playing games. While details are sparse on the exact amount of rewards users can receive, according to the website , NFTs awarded will be directly tied to amount of shows watched, and time spent engaging with puzzles and TV trivia on the app. Sator CEO Isla Perfito said the firm has created: “An easy and powerful solution for TV producers to turnkey deliver a unique NFT experience of their shows while viewers are tuned in.” He added that, “NFTs will bring lots of activity to the platform, a fantastic jumping off point for a user looking to dive in to blockchain technology.”  While it hasn’t been revealed what TV show rights the app is planning to acquire, the company did announced that it recently closed a $2 mil...
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The TCOIN Token to Chart a New Course in the Tourism Industry

PRESS RELEASE. Blockchain-backed ecosystem, the Travel Coin Project, set to challenge the status quo by leveraging the ever-growing technology. The Travel Coin project is looking like a gamechanger in the tourism industry as the blockchain-backed solution is looking to bring freedom to different stakeholders in the market. The ecosystem includes the Travel Coin token, otherwise known as TCOIN, the Travel Coin Mobile App, and the all-inclusive Travel Coin Dashboard. The comprehensiveness of the project and its versatility, especially as it allows everyone and anyone to leverage decentralization in the tourism industry, are some of the unique features of the Travel Coin project. The popularity and acceptance of blockchain technology have continued to increase over the years, as more businesses across different industries look to harness its features and benefits. The multi-billion-dollar tourism industry has also embraced the technology, with the emergence of a wide range of solutions...
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Indian government is rethinking crypto ban: The Economic Times

A new panel will be formed to address "outdated" recommendations on crypto trading. Reports are emerging that India’s government may be reconsidering its stance on cryptocurrencies with the formation of a new regulatory panel. A May 19 report in the Economic Times , cited three sources privy to discussion on the formation of a fresh panel of experts with a view to regulating cryptocurrency trading in India. The move comes amid increasing support for overturning recommendations made by a committee led by former finance secretary Subhash Garg in 2019 for a blanket ban on crypto assets on the grounds they have become outdated. The report quoted an unnamed official with knowledge of the matter who stated: “There is a view within the government that the recommendations made by the Subhash Garg are dated and a fresh look is needed at use of cryptos rather than a total ban,” The new panel may be used to investigate the use of blockchain for technological enhancement and sugge...
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BTC sinks below $40K, Bitcoin inflows to centralized exchanges surge

High Bitcoin inflows to centralized exchanges have prompted predictions of further bearish momentum on social media. Bitcoin inflows to centralized exchanges have surged, prompting bearish speculation the crypto markets could be building up to a violent wash-out. Lex Moskovoski, CIO at Moskovoski Capital, shared data showing that 22,917 BTC was transferred onto centralized exchanges in a single hour on May 18. Moskovoski noted the hourly inflow was the largest since the March 2020 “ Black Thursday ” crash. 22,917 #Bitcoin in a single hour were deposited to exchanges yesterday. This hourly inflow is rivaled only by the March, 2020 crash. People are scared. pic.twitter.com/uH4lBL6Onk — Lex Moskovski (@mskvsk) May 18, 2021 With outflows from exchanges typically being inferred as indicating crypto assets are being moved into cold storage for security or DeFi protocols for yield generation, inflows are interpreted as assets being moved onto centralized platforms to be sold. D...
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There’s Close to 300,000 Bitcoin-Pegged Tokens Hosted on ETH and BSC, Value Exceeds $12 Billion

For quite some time now cryptocurrency traders have been leveraging bitcoin-based assets tethered to alternative blockchains. Mid-May statistics show there’s more than 299,000 bitcoin, worth over $12.8 billion today, tied to wrapped or synthetic bitcoin projects hosted on Ethereum or the Binance Smart Chain. Layer 2 and Sidechain Competitors Command $251 Million in Bitcoin Value Collateralized crypto tokens with underlying assets like fiat currencies or stocks, bonds, and commodities have been around for years now. In fact, with just fiat currencies alone, the stablecoin market valuation today is around $97.5 billion . During the last two years, bitcoin-pegged tokens have been all the rage, and a significant number of collateralized BTC is tied to alternative chains today. Bitcoin-pegged tokens are hosted on a variety of blockchains and bitcoins are also utilized in the layer 2 solution called the Lightning Network (LN) as well. The LN total-valued locked (TVL) statistics for Tues...
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Nervos and CMB International launch $50M blockchain, DeFi and NFT fund

China’s leading blockchain network to fund startups willing to develop on it. The Nervos Foundation has announced the launch of a fund in collaboration with CMB International, a wholly-owned subsidiary of China Merchants Bank. The $50 million fund named “InNervation” will be used to make early investments in startups that are building blockchain-based user-centric products. Decentralized finance (DeFi) protocols, dApps, and nonfungible token (NFT) marketplaces will be a particular focus of the investments. Nervos is a Chinese blockchain project based on a Layer 1, Proof of Work, public permissionless blockchain protocol. It claims to allow any crypto asset to be stored with the same security and immutability as Bitcoin but also enables smart contracts and layer-two scaling. Nervos launched its Common Knowledge Base (CKB) blockchain network in 2019 with a focus on scalability. The project sought to target DeFi and launched a $5 million fund of its own in February . According to th...
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Patched vulnerability could’ve crippled ETH over the past 2 years: Ethereum Foundation

The Ethereum Foundation has come clean about a security vulnerability first spotted in 2019 that could have brought the mainnet to a halt until the Berlin upgrade last month. The Ethereum Foundation has published a blog post outlining a potentially catastrophic vulnerability that could have resulted in the mainnet being brought down at a cost of less than five-figures up until the execution of the Berlin hardfork last month. A May 18 blog post describes the vulnerability as having posed “a severe threat against the Ethereum platform” until April’s upgrades allowed it to dodge the bullet. The report describes the threat as having been an “open secret,” noting it was once publicly disclosed by mistake. Following the implementation of the Berlin hard fork, the foundation estimates the threat is low enough to warrant full disclosure at this time, stating: “It’s important that the community is given a chance to understand the reasoning behind changes that negatively affect the user e...
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Nebraska bill to allow banks to offer crypto services passes to final round

Nebraska could follow Wyoming and open its first crypto bank should the bill pass the final round. Lawmakers in the U.S. state of Nebraska have taken another step towards passing a bill that will allow state banks to offer cryptocurrency services. According to a May 19 tweet from Senator Julie Slama, the legislature called LB 649 has just passed to the final round of debate. She added that the bill establishes a statewide framework for cryptocurrency and digital asset banks in Nebraska: “Excited for Nebraska to be a national leader in crypto!” As reported by Cointelegraph earlier this month, the legislature was introduced by Republican Mike Flood in January. The bill aims to adopt the Nebraska Financial Innovation Act and create crypto asset depository institutions, in addition to providing for charter, operation, supervision, and regulation of these institutions. According to the official timeline of events , the bill was advanced for enrollment and review on May 10, and it ha...
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Asset Managers UBS, Pimco, T. Rowe Price Caution of Cryptocurrency Investing, Expect Strict Regulations

A number of asset managers have cautioned about investing in cryptocurrencies, including UBS Wealth Management, Pimco, T. Rowe Price, and Glenmede Investment Management. “We expect more stringent policy and regulatory controls ahead for crypto as it becomes more mainstream,” said UBS. Asset Managers Caution of Crypto Investing A number of asset managers have expressed caution on cryptocurrency after the recent price swings, including UBS Wealth Management, Pimco, T. Rowe Price, and Glenmede Investment Management, the Financial Times reported Monday. UBS Wealth Management explained that the price volatility that followed the Tesla bitcoin announcement “highlights risks companies face if they take on crypto balance sheet exposure.” The bank added: We expect more stringent policy and regulatory controls ahead for crypto as it becomes more mainstream. Last week, Bitcoin News reported that UBS, the largest bank in Switzerland, was exploring offering cryptocurrency services to its ...
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Ark Investment tips $20M into Grayscale Ethereum Trust

Ark’s Q1 SEC report revealed holdings of 639,069 shares in Grayscale's Ethereum Trust, worth more than $20 million. Cathie Wood's Ark Investment has reported holdings of 639,069 shares in Grayscale's Ethereum Trust for Q1 — currently worth around $20.9 million at today’s prices. ARK Investment has bought 639,069 shares of the Grayscale Ethereum Trust. pic.twitter.com/ofXD5F7QpA — Documenting Ethereum (@DocumentEther) May 18, 2021 The news of Ark’s major investment into Ethereum was seen as a bullish sign by Ethereum and DeFi proponents. Mythos Capital founder and Bankless author Ryan Adams emphasized how significant he saw the development: “Remember when you told you the institutions would never buy ETH? They keep underestimating this asset. ETH IS MONEY.” Ether bulls have been growing noticeably more confident recently, with the co-founder of venture capital firm Framework Ventures, Vance Spencer tweeting earlier today: “There were many times when crypto would ...
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Bank of America Survey: ‘Long Bitcoin’ Is Most Crowded Trade, 75% of Fund Managers See BTC as Bubble

The most recent Bank of America Fund Manager Survey finds that the most crowded trade is “long bitcoin.” Nonetheless, 75% of fund managers say the cryptocurrency is in a bubble zone. Fund Managers Say Long Bitcoin Is Most Crowded Trade but Most See Bubble The Bank of America (BoA) Fund Manager Survey for May, published Tuesday, shows that “long bitcoin” is currently the most crowded trade in the world. Last month, long bitcoin was the second-most crowded trade, with the most crowded trade being “long tech.” Bank of America surveyed 216 fund managers with $625 billion in total assets under management (AUM) between May 7 and May 13. According to the results, fund managers say “long bitcoin” is the most crowded trade at 43%. The survey notes that being identified as crowded has historically been associated with tops. This was not the first time bitcoin topped the list as the most crowded trade in a Bank of America Fund Manager Survey. It was also the most crowded trade in Ja...
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Swiss Sygnum bank to offer custody for Internet Computer token

Major Swiss crypto bank Sygnum is planning to launch options trading for the ICP token at a later date. Switzerland-based cryptocurrency bank Sygnum is launching custody and banking services for Internet Computer (ICP) utility tokens. Sygnum announced Tuesday that ICP holders will be able to deposit their tokens with the bank’s institutional-grade segregated wallets. The firm said that it is the first bank to offer storage for ICP utility tokens, which debuted trading on May 11. In a second phase of rolling out ICP support, Sygnum plans to launch a suite of banking services for the token, including spot trading as well as options trading at a later date. The bank also expects to offer Sygnum Lombard loans for ICP in the future, allowing clients to access liquidity against ICP token holdings. Apart from providing custody and trading services for the ICP token, Sygnum is also a member of the Internet Computer Association, a Geneva-based independent member organization that advocat...
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Cardano ERC-20 converter nears testnet phase

Cardano’s ERC-20 converter tool with built-in two-way convertibility will soon be open for beta testing. Decentralized finance on the Cardano blockchain is drawing closer to becoming a reality, with a token migration bridge soon to enter the testing phase. According to Francisco Landino, project manager at Input Output Hong Kong, or IOHK — the research and development arm responsible for Cardano — the platform’s ERC-20 migration tool is nearing testnet deployment. In a blog post published on Monday, Landino said that the ERC-20 converter tool will allow the migration of Ethereum-based tokens to the Cardano chain. The planned ERC-20 converter bridge will follow Cardano’s highly anticipated Alonzo hard fork , which is touted to bring smart contract functionality to the network. Arguing for the necessity of the ERC-20 conversion tool, Landino wrote: “Once deployed, users of supported Ethereum tokens will be able to bring them over from Ethereum’s congested network and take adv...
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Bitcoin’s drop from $64K comparable to Black Thursday, but Coinbase outflows hint at accumulation

The ongoing Bitcoin price correction draws a comparison with the March 2020 crash — with one big difference. Elon Musk and COVID-19 have something in common: They have both panicked investors — at least once — into dumping their Bitcoin ( BTC ) holdings. The similarities notched up higher in the previous six days as Musk doubled down on his chaos-inducing perspective toward Bitcoin. The billionaire entrepreneur engaged in a Twitter spat with top cryptocurrency advocates over the weekend, including podcaster Peter McCormick, as he projected his favorite token, Dogecoin ( DOGE ), as superior to Bitcoin. Obnoxious threads like this make me want to go all in on Doge — Elon Musk (@elonmusk) May 16, 2021 At one point in time, Musk almost admitted that he would have Tesla unload the $1.5 billion investment that it had made in Bitcoin in February. Meanwhile, the bids for the flagship cryptocurrency kept on declining with each of Musk’s tweets. First, they went to $50,000, then sub-$45,...
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United States, Germany, Turkey lead search interest in Ethereum

Ether search interest is higher than ever, and is attracting interest from around the globe, a new report reveals. The United States is the country most interested in Ether ( ETH ), followed by Germany and Turkey, an analysis of search data has revealed. A report by Invezz.com, as reported by Finbold, showed 1,116,000 searches per month for the term ‘Ether’ emanating from the United States. Excluding searches by budding chemists, that’s the equivalent of around 36,000 internet searches per day for the world’s number-two cryptocurrency by market capitalization. Germany and Turkey followed close behind with 736,300 and 408,500 searches per month respectively. Among the top three, Germany contained the most Ether searches per capita, with 9.46 searches per 1,000 internet users, compared to 3.57 in the U.S. Switzerland, which came 12th on the list, showed the highest concentration of search interest, with 11.79 searches per 1,000 internet users. The United Kingdom came 6th on the lis...
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Bitcoin price could hit $29K next, warns CNBC ‘Chartmaster’

A simple look back at past BTC price dips means that a 55% correction from all-time highs is on the table, says Carter Worth. Bitcoin ( BTC ) could drop to $29,000 and still be testing current support in line with past dips, claims CNBC’s “Chartmaster.” In an appearance on the network’s Fast Money segment on Monday, Carter Worth, chief market technician of Cornerstone Macro, warned that the BTC bottom may be far from in. Pick your average for a Bitcoin price floor Analyzing recent price activity and comparing it to past Bitcoin bottoms, Worth said that current levels at around $45,000 represent the top of a support zone. “Were we to go down 55%, we’d be in the lower end of support,” he summarized. “I think we’re in support — it’s fighting, but my hunch is it goes lower.” A 55% drop from current all-time highs would mean BTC/USD bottoms out at just above $29,000. For Worth, this is a useful reference point, as 55% marks the average of every major price dip of 30% or more sinc...
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Six People Connected to a $36M Crypto Scam Arrested, Scheme Operated From Multiple Locations in Europe

Authorities in Germany launched a massive operation that cracked down on a sophisticated crypto scam, resulting in the arrest of six people in different European countries. Initial reports state that such a fraudulent scheme stole over $36.2 million worth in virtual currencies from individuals across Europe. Raids Conducted in Poland, North Macedonia, and Sweden According to The National News , the investigation from the German police was initiated after locals accused a gang of stealing over 7 million euros ($8.5 million) in the country through bogus online trading platforms, which promoted high yield returns from investing in cryptocurrencies. Five of the six people were taken into custody by the authorities in Bulgaria, and one in Israel, stated the media outlet, in collaboration with Europol. Raids were also done in Poland, North Macedonia, and Sweden as part of the investigation. Europol issued a statement about how the millionaire digital asset scam operated: The criminal ...
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