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Showing posts from June 17, 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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Nifty News: Hot Wheels, NBA game ticket NFTs and Crypto.com invests in eBay for NFTs

Crypto.com has invested in a multichain NFT marketplace start-up, Hot Wheels are set to be tokenized, and you can now purchase NFT cosmetics. Crypto.com Capital has made a strategic investment into a multichain NFT marketplace aiming to be the eBay for NFTs, dubbed “Hodooi.com.” The platform is a new startup from Travala Founder Matt Luczynski and will officially launch on Binance Smart Chain (BSC) in Q3 2021, and integrate with Ethereum in the same quarter. The Crypto.org Chain recently upgraded the mainnet to offer NFT support and HoDooi.com intends to integrate it on the platform to “expand the options for creators and collectors alike.” The amount of investment wasn’t disclosed by Crypto.com . Bobby Bao of Crypto.com Capital said: “We were impressed by Matt’s track record at Travala, and jumped at the opportunity to support him in his latest venture.” Hodooi has already partnered with Gold Star Promotions and Plogix Art Group to provide licensed NFT sales depicting professi...
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MCS Launches Trading Competition With 30,000 USDT and 1M Tokens up for Grabs

PRESS RELEASE. Singapore – A fast-growing cryptocurrency trading platform, MCS ( https://mycoinstory.com ), which offers a variety of inverse and quanto perpetual contracts, has announced to launch a trading competition from June 23, 2021 to July 7, 2021 to celebrate its one year anniversary and introduction of their native token. The registration begins June 15, 2021. The ‘MCS Day! Trading Competition’ is comprised of a prize pool of 30,000 USDT and 1 million MCS tokens. The competition is applied to all inverse and quanto perpetual contracts on the MCS trading platform. The prize pool is split between traders with the highest profit rates and the highest trading volume. This competition remarks its uniqueness by airdropping the MCS token. MCS token is a CeFi & DeFi token that will be used for the upcoming DeFi services and the MCS trading platform. The stability of the MCS token has been thoroughly audited by Certik, a global blockchain and cryptocurrency security company, ...
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Co-Owner of Mirror Trading International Opposes Plans to Liquidate the Bitcoin Scam Outfit

In the latest twist to the Mirror Trading International liquidation saga, Clynton Marks, a co-owner of the bitcoin Ponzi outfit, has opposed attempts to have a court grant a final liquidation order. Marks, who reportedly owned 50% of MTI, argues that the liquidation application was “premature” and that liquidators may “not have the members’ best interests at heart.” The Argument Against Liquidation As explained in a Mybroadband report , Marks, who recently battled a team of MTI liquidators in a South African court, argues that the liquidation notification process was not properly carried out. Marks asserts that he and his wife, Cheri Marks (Head of Communications for MTI), were supposed to be served with the notice. In addition, the MTI co-founder says that the recovery of 1,200 bitcoins belonging to MTI from FX Choice nullifies the liquidators’ insolvency argument. In their statement to Mybroadband, the Markses added: MTI is a solvent company and any chance of members (however ...
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Goldman Sachs analysts divided over whether Bitcoin is an 'investable asset class'

Goldman has flip-flopped again declaring crypto assets as unworthy of investment in the same week it expands its crypto trading desk. Wall Street investment bank Goldman Sachs has made another U-turn on its stance toward Bitcoin as it struggles to define the asset’s investment status. The investment bank flip-flopped again in its approach to cryptocurrencies with a report issued earlier this week that claims  they are not a “viable investment”. The report, titled “ Digital Assets: Beauty Is Not in the Eye of the Beholder ”, concluded Bitcoin is not “a long-term store of value or an investable asset class”. This contradicts their May 21 report titled “ Crypto: A New Asset Class? ” which was largely positive about the idea and even featured Matthew McDermot, global head of digital assets at Goldman Sachs, saying: "Bitcoin is now considered an investable asset". That in turn, was a repudiation of another Goldman Sachs presentation last year where different analysts from ...
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DeFi focused: Grayscale exploring 13 more crypto assets for its trusts

Grayscale has added 13 new cryptocurrencies to its list of assets under consideration, again exhibiting significant interest in DeFi. Institutional asset manager Grayscale has announced 13 more crypto assets are currently under consideration for its suite of crypto investment trust products. Revealed on June 18, the prospective assets mainly represent the decentralized finance (DeFi) sector, including 1inch, Bancor, Curve, Kava, Kyber Network, Loopring, Polygon, Ren, Universal Market Access, and 0x. The native tokens of high-speed scalable blockchain networks Solana, Near, and Dfinity have also been added to Grayscale’s list of considered cryptocurrencies. We’re always exploring new assets that can help us grow our family of investment products. Here are 13 additional we'll explore: $1INCH $BNT $CRV $ICP $KAVA $KNC $LRC $NEAR $MATIC $REN $SOL $UMA $ZRX . Follow along to get updates as we expand this list! https://t.co/5BU92rVZOM — Grayscale (@Grayscale) June 17, 2...
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Mark Cuban calls for stablecoin regulation in wake of Iron Finance 'bank run'

After a bank run on the Iron Finance protocol cost him dearly, Mark Cuban is calling for regulation to define “what a stablecoin is and what collateralization is acceptable.” Billionaire investor and DeFi proponent Mark Cuban has called for stablecoin regulation after losing money on what he dubbed as a “rug pull” on the Iron Finance protocol. According to Iron Finance, the partially collateralized stablecoin project was the subject of a “historical bank run” that resulted in the price of the IRON stablecoin moving off peg. As a consequence, the price of Iron’s native token TITAN crashed by almost 100% over two days from its all-time high of $64.04. Speaking with Bloomberg on June 17, Cuban blamed himself for “being lazy” and not doing enough research, but also raised questions surrounding the regulation of stablecoins: “There should be regulation to define what a stablecoin is and what collateralization is acceptable. Should we require $1 in U.S. currency for every dollar, or de...
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Mark Cuban Hit by Iron Finance Token Crash, Calls for Defi Regulation

Billionaire investor and Shark Tank star Mark Cuban has called for cryptocurrency regulation focusing on decentralized finance (defi) and stablecoins after a token he invested in collapsed from $64 to near zero. Cuban Wants Defi and Stablecoin Regulation After Investing in Collapsed Token The billionaire owner of the NBA team Dallas Mavericks, Mark Cuban, invested in a token that crashed from about $64 to near zero Wednesday. Iron Finance called the collapse of its iron titanium token (TITAN) “the world’s first large-scale crypto bank run.” The price of the token is $0.000000029585 at the time of writing. Responding to a tweet asking whether he “rugged” or “got rugged” on Iron Finance’s token, Cuban wrote: “I got hit like everyone else. Crazy part is I got out, thought they were increasing their TVL [Total Value Locked] enough. Then bam.” The billionaire investor has been fascinated by defi for quite some time. He wrote a blog post on June 13 touting the potential of defi innov...
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Digital land in Decentraland sells for $913K... to a virtual property developer

A virtual real estate investment firm has a new platform record for the most expensive digital land plot in Decentraland’s metaverse after spending $913,000 on 259 parcels. A virtual plot of real estate situated within the Ethereum-based open-world game, Decentraland, has sold for more than $913,000 — valuing the intangible property on par with the average price of a real world house in Brooklyn , New York. Virtual real estate is sold in the form of nonfungible tokens (NFTs) dubbed LAND in Decentraland, with the digital plot being sold to virtual real estate-focussed investment firm, Republic Realm. The plot actually represents 259 parcels of digital land, with the transaction settling for 1,295,000 of Decentraland’s native MANA tokens — worth roughly $913,000 at the time of sale. On Twitter, the investment firm emphasized its commitment to building on the virtual real estate and adding value to Decentraland’s metaverse. Republic Realm just closed on the largest land acquisition...
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Traders search for bearish signals after Bitcoin futures enter backwardation

Analysts search for bearish signals after the June BTC futures trade below spot exchange pricing. An unusual phenomenon called 'backwardation' is taking place in Bitcoin ( BTC ) futures trading, mainly the June contract, which expires on June 25.  The fixed-month contracts usually trade at a slight premium, indicating that sellers request more money to withhold settlement longer. Futures should also trade at a 5% to 15% annualized premium on healthy markets, in line with the stablecoin lending rate. This situation is known as contango and is not exclusive to crypto markets. Whenever this indicator fades or turns negative, this is an alarming red flag. This situation is known as backwardation and indicates a bearish sentiment. FTX June BTC futures versus Coinbase USD. Source: TradingView As displayed above, a healthy 0.1% to 0.5% premium took place for most of the previous three weeks. This is equivalent to a 2% to 9% annualized rate, therefore oscillating between slight...
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FTX’s Sam Bankman-Fried: Institutions are ‘desperate’ for crypto

Is SBF going to lobby the government on behalf of crypto? How badly do institutions want in on the blockchain game? When's a moat an impediment to growth, and not a protective shield? As FTX and Alameda Research increasingly enter the public eye, one side effect is that the decabillionaire is himself a growing public figure. Especially after a significant donation to Joe Biden’s campaign for the US presidency, some observers hoped that SBF would come to serve as a kind of professional lobbyist on behalf of the crypto ecosystem.  While he says he’s open to discussing his views, he’s not trying to work the edges or sell anyone a used car: So I'm super happy to serve as a resource for anyone in government or else who wants and I think happy talk about what the industry is like [...] look, they have so many people who come to them with agendas right here. You know, to the extent I have an agenda, I just want it to flow from my actual thoughts and beliefs. So that's all I ha...
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John McAfee Says the Feds Seized All His Assets: ‘I Have No Hidden Crypto, I Have Nothing, I Regret Nothing’

Antivirus tycoon John McAfee says he has no hidden cryptocurrencies, no assets left as there were all seized by the Feds, no friends, and no regrets. He has shared his story from prison, where he says he has “never felt more free.” McAfee Says He Has No Cryptocurrencies, No Assets, No Friends but Also No Regrets John McAfee is still in a Spanish prison after he was arrested in October last year. He was charged by the U.S. Securities and Exchange Commission (SEC) with fraudulently pumping initial coin offerings (ICOs) and was indicted by the U.S. Department of Justice (DOJ) for “tax evasion and willful failure to file tax returns,” fraud, and money laundering conspiracy crimes. Early this month, the National Court of Spain suspended his extradition hearing. McAfee tweeted from prison Wednesday: The US believes I have hidden crypto. I wish I did but it has dissolved through the many hands of Team McAfee (your belief is not required), and my remaining assets are all seized. My f...
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Shanghai Man: Economist says El Salvador 'on road to death', salaries paid in e-CNY ...

Former banking heads question foreign financial policies, workers paid with digital yuan in milestone pilot and a large Series A is closed by DeFi platform SynFutures. Our Man in Shanghai has refused to let recent regulations slow down the news coming from China. Enterprise blockchain, central bank digital currencies and start up projects continue to make a positive impact in a region hoping to grow economic value through technology. Death march for El Salvador The debate around El Salvador continued this week as media and officials tried to digest the adoption of Bitcoin as a national currency. JPMorgan stated that there was little economic benefit , and John Hopkins University professor Steve Hanke warned that the move could “ completely collapse the economy ” of the small nation. The former Bank of China deputy governor Wang Yongli took a very hardline approach, by stating that volatility and a lack of regulation or controls would put the economy on a “road to death. ” This quot...
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Bitcoin retests $37K support, gold and stocks drop lower over Fed comments

Steady BTC inflows to crypto exchanges and fallout from the Federal Reserve’s plan to hike interest rates dropped Bitcoin price to the $37,000 support. Bitcoin ( BTC ) price dropped another notch to $37,365 today after a failed attempt by bulls to retake the $40,000 level. The renewed slump comes as the stock market and commodities also pulled back as a result of Federal Reserve Chair Jerome Powell’s comments related to future interest rate hikes and concerns over rising inflation which led to pdeclines for both Bitcoin and gold .  Data from Cointelegraph Markets Pro and TradingView shows that the price of BTC climbed from $38,200 in the early trading hours on Thursday to a high above $39,500 by midday before being pummeled down to a low of $37,365 as bears took control of the market. BTC/USDT 4-hour chart. Source: TradingView Inflows to spot exchanges increase One signal provided ahead of Bitcoin’s price decline on June 17 was increased inflows to spot exchanges wh...
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Neil Patrick Harris Hodls Bitcoin, Partners With Cryptocurrency ATM Operator

Actor and bitcoin investor Neil Patrick Harris has partnered with a leading cryptocurrency ATM operator to help people see “how easy and accessible it is to invest in cryptocurrency and join the future of finance.” Harris also shared how he got into bitcoin. Neil Patrick Harris Partners With Bitcoin ATM Operator Coinflip Coinflip, one of the largest cryptocurrency ATM operators, announced Tuesday a partnership with actor and long-time crypto investor Neil Patrick Harris, to launch a marketing campaign with the actor as the spokesperson. Founded in 2015, Coinflip currently operates over 2,200 cryptocurrency ATMs across 47 U.S. states supporting the buying and selling of nine cryptocurrencies with cash. Harris is best known for his TV roles in “Doogie Howser M.D.” and “How I Met Your Mother,” although he has over 100 acting credits under his belt, including movies like “Starship Troopers” and the “Harold & Kumar” franchise. Also famous for starring in 12 broadway productions, he ...
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Yield Guild Games Raises $4 Million to Power Its Play-to-Earn Proposal

Yield Guild Games, an online gaming guild, has raised $4 million to power its play-to-earn proposal in a Series A funding round. The funding round was led by Bitkraft, a venture capital company specializing in e-sports investments. Other blockchain and crypto-related companies also participated. The company plans to include more gamers in its activities with these new funds. Yield Guild Games Raises $4 Million in Series A Funding Round Yield Guild Games, an online gaming guild, has managed to raise $4 million in its series A funding round, according to a company blog post. The round was led by Bitkraft , an e-sports and interactive world venture capital fund. The funding round also saw participation from Atelier Ventures, Fabric Ventures, Greenfield One, IDEO CoLab, Mechanism Capital, ParaFi Capital, and Third Prime Capital. With these funds, Yield Guild Games plans to further deepen its sponsorship of players. This will enhance its play-to-earn proposal. Yield Guild Game’s busine...
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Decentralized Gaming Platform DeFi11 Eyes Expansion After $3.5M Raise

PRESS RELEASE. DeFi11, a decentralized gaming ecosystem, is introducing major changes to both revamp the platform and make it fairer to users as part of an expansion fuelled by recent funding. 17th June 2021, New Delhi, India – Fantasy sports have gained massive popularity in recent years. The market is expected to grow by 7% by 2024. However, a lack of regulation has allowed companies to exploit users. Many fantasy sports and virtual gaming platforms have been accused of publishing false volumes, creating fake winners, and misusing user data. DeFi11 was created to stop these unfair practices, providing a safe platform for the users. Powered by blockchain, DeFi11 eliminates centralization and maintains user privacy. In addition, DeFi11 will tokenize gaming assets using non-fungible tokens (NFTs), allowing users to access features like liquidity pools, prediction-based smart contracts, and staking. Touted as the first DeFi-powered fully decentralized gaming ecosystem in the worl...
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GOP U-turn: House Republicans begin accepting cryptocurrency donations

The GOP will accept crypto contributions through BitPay, allowing them to convert assets like Bitcoin and Ether into U.S. dollars. The National Republican Congressional Committee, or NRCC, announced Thursday that it will begin accepting campaign donations in cryptocurrency as a part of a broader effort to retake the House and stop Democrats from pursuing their policy agenda.  “The NRCC is proud to lead the charge in accepting cryptocurrency campaign contributions,” chairman Tom Emmerson said in a statement, adding: “We are focused on pursuing every avenue possible to further our mission of stopping Nancy Pelosi’s socialist agenda and retaking the House majority, and this innovative technology will help provide Republicans the resources we need to succeed.” The GOP will accept payments in Bitcoin ( BTC ) and other cryptocurrencies through BitPay, a leading digital payment processor. Cryptocurrencies received through BitPay can be liquidated immediately for dollars. Related: ...
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