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Showing posts from June 25, 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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Marvel Entertainment to Launch NFTs — Fans Can Soon Hunt for Rare NFT Comic Books

Marvel Entertainment has announced the company is stepping into the realm of non-fungible tokens (NFTs). The wholly-owned subsidiary of The Walt Disney Company and the popular comic book creator explains that Marvel fans will be able to buy “official Marvel NFT digital collectibles, digital comic books and more.” Marvel to Release NFT Digital Comics and Collectibles via the Veve App The comic book and film giant Marvel Entertainment is getting into NFTs according to a press statement released on Thursday. The announcement notes that Marvel aims to launch digital collectibles, digital comics, and other NFT products. “Since the beginning, collecting has always gone hand in hand with being a Marvel fan,” Dan Buckley the president of Marvel Entertainment said in a statement. “Like us, Veve understands collecting is about the experience just as much as the product, and we look forward to extending that experience for our fans over the years to come,” Buckley added. The comics sta...
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NFT Roundup: Beeple’s We.new Platform, DeLorean DMC-12 NFTs, Jerry Garcia’s Music Art

Over the last seven days, there have been close to 18,000 non-fungible token (NFT) primary sales worth over $12.7 million. This week also saw a great number of non-fungible token (NFT) announcements surrounding big names like DeLorean Motor Company, the renowned NFT artist Beeple, the Grateful Dead’s Jerry Garcia, USA Today and more, as the NFT ecosystem continues to swell. Beeple Launches NFT Platform After making history with his $69 million non-fungible token (NFT) art auctioned at Christie’s, Mike Winkelmann, more commonly known as Beeple, revealed the launch of an NFT platform called we.new . The we.new platform is “a curator and provisioner of iconic moments as non-fungible tokens (NFTs),” according to the announcement. Beeple’s we.new project has partnered with well known companies like Wasserman, Endeavor, Universal Music Group, and Warner Music Group. By working with Endeavor’s IMG, the web portal’s first release celebrates Andy Murray’s historic victory at Wimbledon in ...
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SEC Delays Robinhood IPO Over Questions Concerning the Company’s Crypto Business: Report

Robinhood Markets Inc., the American financial services company headquartered in Menlo Park, California, has seen its initial public offering (IPO) delayed by the U.S. Securities and Exchange Commission (SEC). According to a report citing “people familiar with the matter” the SEC is questioning Robinhood’s cryptocurrency business. SEC Questions Robinhood’s Crypto Dealings, IPO Delayed Robinhood was supposed to be having an initial public offering this month but according to a report from Bloomberg, the listing has been slowed by the SEC. The report cites a few people familiar with the matter and they asked: “not to be identified because the matter is private.” However, they say that the U.S. regulator has questions concerning the cryptocurrency side of the business, as Robinhood also allows customers to purchase popular stocks. Since 2018, Robinhood has allowed customers to purchase and trade crypto assets like bitcoin ( BTC ), dogecoin (DOGE), and ethereum ( ETH ). The company c...
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First Bitcoin ETF in Latam Debuts on Brazil Stock Exchange

The first Bitcoin ETF in Latin America made its debut yesterday on the Brazil Stock Exchange. Presented by QR Capital, a Brazilian blockchain investment firm, the ETF seeks to simplify Bitcoin exposure for institutions and companies. The ETF was approved by Brazilian regulators and is currently trading with the QBTC11 ticker. Bitcoin ETF Makes It in Brazil The first Bitcoin ETF initiative in Latam is already listed on the Brazilian stock exchange. Conceived by QR Capital, a blockchain investment firm and asset manager, its objective is to simplify Bitcoin access for institutions. This Bitcoin ETF product got its approval last March from the Brazil Securities and Exchange Commission. According to QR Capital CEO Fernando Carvalho, their product is pioneering how companies approach cryptocurrency investments in Brazil. Carvalho stated: We can see the market maturing in its search for safer and simpler bitcoin exposure options. Our bitcoin ETF is a landmark for both financial and cr...
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FATF’s Annual Crypto Review Highlights ‘Continued Use of Anonymity Tactics’ and ‘Lack of Effective’ Regulation

The Financial Action Task Force (FATF) has published the organization’s 12-month review and the research highlights that only 45% of the 128 reporting jurisdictions have complied with AML/CFT policy and FATF recommendations. The annual review stresses that the “lack [of] effective” regulation makes it “challenging for competent authorities to follow the transaction trail, buying more time for criminals to move criminal proceeds.” Less Than Half of the Reporting Jurisdictions Have Met FATF’s Crypto Compliance Standards Over the last few years, the FATF intergovernmental organization has been focused on virtual assets (VA) and virtual asset service providers (VASPs). FATF is a group dedicated to combating money laundering (ML) and terrorism financing (TF) on a global scale. Bitcoin.com News recently reported on how the FATF applied the Travel Rule to stablecoins, decentralized finance (defi), and non-fungible token (NFT) assets. Further, the intergovernmental organization has been in...
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Dogecoin Sheds 67% Since Price High — Meme Token’s 12 Month Market Stats Still Outshined BTC

The notorious meme crypto asset dogecoin has seen better days, as the digital currency tapped an all-time high (ATH) two months ago at $0.737 per unit. Today, dogecoin is down 67% since the ATH and over 30% during the last three months as interest in the dog meme coin is waning. Dogecoin Interest Dives, Meme-Token’s Value Down 67% Since ATH Worldwide interest in DOGE is slipping, as the search query “dogecoin” on Google Trends (GT) has slid from an ATH in interest. Dogecoin lost 79% by scoring a 100 in the second week of May to this week’s score of 21. Google Trends (GT) data for the search query “dogecoin” on June 25, 2021. The search query for the term “DOGE” globally shows similar findings, as interest seems to be dropping across the board. Today, the most interested countries searching the term “dogecoin” on Google, according to GT data includes the U.S., Turkey, Canada, Singapore, and the Netherlands. Dogecoin’s price has dropped significantly during the last month and ...
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Altcoin Roundup: Stablecoin pools could be the next frontier for DeFi

The days of 4,000% APY on DeFi liquidity pools could soon be replaced by safer, lower-yielding stablecoin-denominated pools. In times like these, when the entire cryptocurrency market is down and there is nary a sector-wide runup to be found, traders have to dig into data to see how the market dynamics may have changed to pinpoint signs of new growth.  Stablecoins are the newest trend to emerge in the decentralized finance (DeFi) arena due to the resiliency they bring to the sector, especially since protocols that are more reliant on the dollar-pegged assets continue to offer token holders low-risk yield opportunities in turbulent market conditions. Possible evidence of stablecoins rising influence can be found in the difference between the decline in Ether’s ( ETH ) price and the total value locked in smart contracts. The price of Ether declined by 20% more from its peak than the decline in the total TVL of the DeFi sector. TVL in smart contracts vs. Ether price decline. Sou...
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Crypto traders say negative funding rates are buy signals, but are they?

Celebrity traders on Twitter frequently cite negative funding rates as a Bitcoin buy signal, but does data support this point of view? Perpetual contracts, also known as inverse swaps, have an embedded rate usually charged every eight hours. This fee ensures there are no exchange risk imbalances.  Even though buyers' and sellers' open interest is matched at all times, leverage can vary, and when buyers (longs) are demanding more leverage, the funding rate turns positive. Thus, they are the ones paying the fees to the sellers (shorts). However, the opposite situation occurs when shorts require additional leverage, and this causes the funding rate to turn negative. Bitmex BTC futures weekly funding rate, current. Source: TradingView The Bitcoin ( BTC ) futures funding rate has been negative since May 18 (37 days), and this situation indicates buyers' lack of appetite for leverage longs. Historically, this indicator shifts between 0% and 2% per week, although it might...
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SEC accuses XRP Army of issuing 'false statements' against its leadership on social media

The commission argued that Ripple’s motion, if granted, would open the floodgates for the company to request testimony from high-ranking government officials. The ongoing lawsuit between Ripple Labs and the U.S. Securities and Exchange Commission, or SEC, continues with the regulatory body claiming that XRP token holders are targeting its members on social media platforms with allegedly false statements. In a Thursday motion addressed to Judge Sarah Netburn in the Southern District of New York, the SEC has requested a conference to discuss quashing the motion from Ripple to subpoena the former director of the regulatory body’s division of corporation finance, William Hinman. The SEC argued that Ripple’s motion, if granted, would set a precedent for the company to be allowed “a parade of requests for the testimony of high-ranking government officials,” and interfere with U.S. government operations. “Allowing Defendants [Ripple] to depose Director Hinman would likely result in Direc...
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10,000 Financial Institutions Can Now Let Customers Buy, Sell, Hold Bitcoin Through Their Bank Accounts

Banks and credit unions of all sizes can now facilitate the buying, selling, and holding of bitcoin within their banking platforms thanks to a collaboration between Finserv and New York Digital Investment Group (NYDIG). Finserv currently has about 10,000 financial institution clients. All Banks Can Now Let Customers Buy, Sell, Hold Bitcoin via Bank Accounts Finserv Inc. (NASDAQ: FISV), a global leader in payments and financial technology, announced Wednesday that “Banks and credit unions of all sizes can facilitate buying, selling, and holding bitcoin within their digital banking platforms.” To enable the bitcoin option, Finserv has integrated with New York Digital Investment Group (NYDIG), a bitcoin technology and financial services subsidiary of Stone Ridge, a $10 billion alternative asset manager. Finserv has nearly 10,000 financial institution clients, almost 6 million merchant locations globally, and 100 million digital banking users, its website details. A member of the S...
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Nigerian secondary school will accept crypto payments despite regulatory uncertainty

"We believe one day digital money will gain more acceptance than paper money,” said school director Sabi’u Musa Haruna. A private secondary school based near the Nigerian city of Kano has announced it will be accepting payments for school fees in cryptocurrency amid the country’s central bank banning financial institutions providing services to crypto exchanges. According to a Thursday report from local news outlet Kano Focus, the director of the New Oxford Science Academy in the Kano suburb of Chiranchi will allow students to pay for tuition fees in crypto. Sabi’u Musa Haruna, who started working at the school in 2017, urged the Nigerian government to embrace and regulate cryptocurrency, but seemed to imply he would not wait with this latest move. “We’ve decided to accept cryptocurrency as school fees, because the world today is tilting towards the system,” said Haruna. “We believe one day digital money will gain more acceptance than paper money.” Haruna cited the examples ...
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Marvel reveals official NFTs will be available on VeVe marketplace by 2022

Some of the more well known characters from Marvel include Wolverine, Spiderman, Iron Man, and Captain America. The VeVe virtual marketplace will soon have official nonfungible tokens and digital comic books from Marvel. In a Thursday announcement, Marvel Entertainment  said it had partnered with Orbis Blockchain Technologies to release nonfungible tokens, or NFTs, and digital collectibles on the VeVe marketplace app starting later this year. According to the entertainment company, the NFTs will include digital collectibles and comic books which Marvel fans can trade as well as display in virtual showrooms. “We hope to expand the limits of what Marvel fandom can be, starting with personal and interactive digital collectibles that, through NFTs, fans can truly collect, share, and enjoy in a way that they have not been able to do before,” said Marvel’s vice president of business development and strategy Daniel Fink. All the Marvel digital collectibles will be minted on the bloc...
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