Skip to main content

Posts

Showing posts from June 27, 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...
Post a Comment
Read more

Bank of Tanzania Hints at Possible Crypto Ban Reversal as Spokesman Confirms Bank Is ‘Working on the Directives Given’

In a hint that Tanzania might soon reverse its 2019 crypto ban, an unnamed spokesperson of the Bank of Tanzania (BOT) recently suggested the apex bank is “working on the directives given.” The remarks by the spokesperson follow Tanzanian President Samia Suluhu Hassan’s call on the country’s finance chiefs to prepare for cryptocurrencies. BOT Move Commended In a speech delivered shortly after El Salvador made bitcoin legal, President Hassan pointed to the inevitability of cryptocurrencies. However, as one report explains, the central bank spokesperson did not reveal whether or not the BOT is planning to adopt existing cryptocurrencies such as bitcoin or if it wants to issue its own digital currency. Still, even with this lack of clarity, some members of Tanzania’s blockchain and crypto community have welcomed the reports. For instance, Abdulmajid Nsekela, the chairman of the Tanzania Bankers Association commends the reports that are attributed to the BOT’s spokesperson but warn of...
Post a Comment
Read more

Billionaire vows to spearhead Mexico’s first Bitcoin-friendly bank

Ricardo Salinas Pliego wants his bank to be the first in Mexico to accept BTC. The third richest man in Mexico, Ricardo Salinas Pliego, has doubled down on his support for Bitcoin, revealing plans to open the first BTC accepting bank in the country. On June 27, the Mexican billionaire tweeted his support for the widespread adoption of BTC, noting that his bank is “working” to become the first in Mexico to accept the world’s leading digital asset. The comments follow a massive endorsement for Bitcoin by Salinas , who stated that it was “absolutely right” to think of Bitcoin as the new gold. Sure, I recommend the use of #Bitcoin , and me and my bank are working to be the first bank in Mexico to accept #Bitcoin , if you need more details or information follow me on my Twitter account . — Ricardo Salinas Pliego (@RicardoBSalinas) June 27, 2021 Salinas is the founder and chairman of Grupo Salinas, a Mexican corporate conglomerate spanning television and radio network TV Azteca, con...
Post a Comment
Read more

Index Coop to include BadgerDAO in DPI DeFi index from August

The DPI token’s price has crashed more than 64% in six weeks. BADGER, the governance token of Ethereum-powered Bitcoin yield protocol, BadgerDA O, will be included in Index Coop’s DeFiPulse Index (DPI) token from August. Index Coop announced the news on June 26, noting BADGER’s inclusion would be pushed back by one month due to prioritizing other upgrades. Slight Correction DeFi Pulse Index has added $BADGER to the methodology. However, it will not be included in this month's $DPI rebalance due to the necessity to add support for a wBTC pair to our rebalancing operations. $BADGER will be added to next month's rebalance. — Index Coop (@indexcoop) June 25, 2021 The DPI token is a market cap-weighted index spanning the 10-most popular Ethereum-based DeFi tokens listed on decentralized finance data aggregator, DeFiPulse.  The DPI index token rebalances on the first day of every month, adjusting allocations according to supply and price data provided by CoinGecko. To...
Post a Comment
Read more

Cryptowisser : Crypto Taxes Will Continue to See a Regulations Increase as Adoption Rises

PRESS RELEASE. June 2021, leading Crypto service comparison site – Cryptowisser, attempts to dissipate the cloud of confusion surrounding tax regulations on crypto currencies around the world. As the tax season comes to a close and a record amount of crypto traders are holding, how do you legally save your crypto? It is no surprise that as the recent surges and as alt coins continue flooding the market, more and more people are seeing it as a potential way of making money. And the once fabled mysterious currency, is well, becoming more regulated. Like anything else, regulatory boards are catching on and impicating tax laws. As the Cryptowisser tax essentials report states, the majority of crypto tax either comes from Income Tax or Capital Gains tax. Tax free crypto conditions still exist – The report clarifies Geo advantageous spots for crypto traders- Malaysia for example, does not tax crypto trading unless it is a registered business. Other crypto transactions such as donation...
Post a Comment
Read more

Oracle Vinny Lingham Still Envisions $100K This Year if Bitcoin ‘Continues to Hold $30K’ 

The former CEO of Gyft and the cofounder of the project Civic, Vinny Lingham has been called an ‘oracle’ at times for correctly predicting the future price of bitcoin. On various occasions all the way back to 2016, Lingham has made correct bitcoin price calls over the years. Even though bitcoin’s price has been lower in recent weeks after shedding over 40% in the last three months, Lingham has an optimistic outlook if “$30k continues to hold.” Vinny Lingham’s Recent Bitcoin Predictions Show Optimism Vinny Lingham is talking about bitcoin (BTC) price predictions again and when he does a number of people listen. Lingham has been giving price forecasts for years now, and people have referred to him as the “oracle” for guessing correctly a lot more than most people. Bitcoin ( BTC ) 1-week chart against the U.S. dollar on June 27, 2021. Bitcoin tapped a high of $64,895 on April 11, 2021, and tapped a low of $28,600 on June 22, 2021. The cofounder of the project Civic’s bitcoin pre...
Post a Comment
Read more

Despite regulatory uncertainty, Indian crypto investment surges 19,900% in one year

Unperturbed by persistent threats of a renewed crypto crackdown from lawmakers, Indian investors have piled $38.8 billion into cryptocurrency over the past year. Despite India’s uncertain regulatory climate regarding crypto assets, nationwide investments in digital assets have increased by roughly 19,900% over the past year. According to data from blockchain analytics firm Chanalysis that was reported by Bloomberg on June 28, crypto investments increased during mid-2020 before going parabolic as the markets surged into new all-time highs towards the end of the fourth quarter. Chainalysis estimates the total invested in crypto across India grew from $200 million to $40 billion over roughly the past year, with the firm estimating 15 million Indians are exposed to cryptocurrency. Monthly value of fiat invested into crypto by Indians: Chainalysis The data illustrates the positive impact of the Indian Supreme Court’s March 2020 decision to overturn the Reserve Bank of India’s ban ...
Post a Comment
Read more

French court sentences BTC-e operator Alexander Vinnik to 5 years

Vinnik’s lawyers fear Greek authorities will want him to face additional charges after the sentence. A court of appeals in Paris has upheld the five-year prison term in the case against BTC-e operator Alexander Vinnik. The court upheld a December 2020 verdict and prison sentence , finding that Vinnik/BTC-e had committed money laundering as part of an organized criminal group, and provided false information about the origin of the proceeds. The Parisian court dismissed several requests from Vinnik's defense team, including asking to examine copies of the evidence provided by the FBI. The court also exempted Vinnik from a fine of 100,000 Euros which originally accompanied the December sentence. Vinnik was originally charged with defrauding nearly 200 people using ransomware, but the court cleared him of the malware attack charges in December. The prosecution service had asked for a smaller fine, expressing doubts that he would be able to pay out the victims of his crimes, accord...
Post a Comment
Read more

Mexico’s Third Richest Man Recommends Bitcoin, His Bank Is Working to Accept BTC, Says Fiat Money Is a Fraud

Ricardo Salinas Pliego, Mexico’s third-richest man and founder of Grupo Salinas, sees bitcoin as an asset with extraordinary properties, describing the cryptocurrency as “gold for the modern world.” He recommends bitcoin, thinks that fiat money is a fraud and the idea of the U.S. dollar being a hard currency is a joke. Mexico’s Third-Richest Man Sees Bitcoin as Asset With ‘Extraordinary Properties’ Ricardo Salinas Pliego talked about bitcoin and fiat money in an interview with José Rodríguez, published last week. He explained that he considers bitcoin a financial asset so it is not important to him whether BTC is a currency or not. The billionaire pointed out that precious metals are also not currencies, noting: “You cannot go to a store with a gold coin and buy a computer. You have to exchange the gold for fiat and then you buy the computer.” Citing a number of advantages, including divisibility, ease of transfer, and the simplicity of storage without counterparty risk, the bill...
Post a Comment
Read more

John McAfee’s Hideout Was a Secret Bitcoin Mining Farm

John McAfee was reportedly hiding out in a Spanish “ghost hotel” with a bitcoin mining farm in the basement prior to his arrest. Clues from images and messages the antivirus tycoon posted on social media point to a semi-abandoned hotel owned by a Russian. ‘Ghost Hotel’ With Bitcoin Mining Farm After John McAfee was reportedly found dead in his prison cell in Spain, reports have emerged that the antivirus tycoon’s hideout place was a secret bitcoin mining farm. The place was a semi-abandoned hotel in Cambrils called Daurada Park Hotel, El Pais publication reported Friday. Cambrils is a coastal town in the province of Tarragona, Catalonia, Spain. The hotel is dubbed “a ghost hotel” by the Spanish publication El Confidencial because reservations were pretty impossible to make as no one answered the phone even when the hotel was still operational. The publication tried to contact the hotel about the McAfee story back in 2018 but to no avail. There are few reviews of the hotel on Trip...
Post a Comment
Read more

4 ways investors use support and resistance levels to make better trades

Properly identifying support and resistance levels can be the difference between a winning trade and significant losses. Trading should just be a simple process of buying low and selling high but for many investors the process is more akin to rocket science. One of the most basic and easy-to-understand strategies that can help accomplish this is to identify an asset’s support and resistance levels. Once traders can spot the support and resistance levels, they can improve their entry and exit timing in the market. Support and resistances are also helpful during bullish, bearish and range-bound markets. Let’s take a moment to understand the basics. What are supports? Support is formed at a level where the demand from the buyers absorbs the supply from sellers, preventing the price from declining further. At this level, the bullish traders are inclined to buy as they believe the price is attractive enough and may not decline further. On the other hand, the bears stop selling becaus...
Post a Comment
Read more

Crypto Industry Will Benefit From Tighter Regulation, Says Law Professor

The chairman of International Banking Law and Finance at the University of Edinburgh, professor Emilios Avgouleas, says that tighter crypto regulation will benefit the industry in the long run. He is bullish about the prospects of cryptocurrencies becoming widely used around the world. Tight Regulation Good for Crypto Industry Professor Emilios Avgouleas talked about how strict regulations are beneficial to the crypto industry in an interview with the Insider last week. The chairman of International Banking Law and Finance at the University of Edinburgh, professor Avgouleas is also a senior research fellow at crypto technology company IOHK. According to the university, he is “a leading international expert on financial reform, fintech policy and regulation, banking theory and regulation, capital markets regulation, law and finance, and global economic governance.” Professor Avgouleas described that governments’ efforts to regulate the crypto industry should make cryptocurrencies m...
Post a Comment
Read more

Boston Fed President Says the ‘Exponential Growth’ of Stablecoins Could ‘Disrupt’ Money Markets

Boston Federal Reserve president Eric Rosengren discussed stablecoins in a recent presentation on June 25. Rosengren stressed that stablecoins could be a “disruptor” to prime money market funds and the Boston Fed president remarked that the exponential growth of stablecoins is concerning. Rosengren: ‘We Should Be a Bit Concerned About Stablecoin Markets Growing Very Rapidly’ Members of the Federal Reserve are quite aware of stablecoins and the massive market these pegged-assets have created. Today statistics show there’s $111 billion in stablecoin capitalization amongst the long list of these types of tokens. Out of all that money, on Sunday, June 27, there’s $63 billion in reported stablecoin trade volume out of the $96 billion in crypto swaps recorded globally. Boston Fed president Eric Rosengren has noticed the growth and the banker thinks it could pose a problem to short-term money markets. The chart above is from a Boston Fed presentation slide show during a speech on “Fina...
Post a Comment
Read more

UK financial watchdog orders Binance to halt 'regulated activity' in the country

The cryptocurrency exchange has until Wednesday to comply with a new notice from the Financial Conduct Authority. Binance, one of the world’s largest cryptocurrency exchanges, has been ordered to cease all regulated activities in the United Kingdom following a review of its operations by the nation’s Financial Conduct Authority, or FCA.  “Binance Markets Limited is not permitted to undertake any regulated activity in the UK,” the FCA said in an announcement, adding that no other entity in the Binance Group holds any of the necessary permits to operate in the country. In delivering the rebuke, the FCA also issued a stern warning about investing with unauthorized exchanges: “Most firms advertising and selling investments in cryptoassets are not authorised by the FCA. This means that if you invest in certain cryptoassets you will not have access to the Financial Ombudsman Service or the Financial Services Compensation Scheme if things go wrong.” While the FCA doesn’t regulate c...
Post a Comment
Read more

Top 5 cryptocurrencies to watch this week: BTC, ADA, SOL, MATIC, KLAY

Bitcoin’s consolidation in the current range could create trading opportunities for ADA, SOL, MATIC and KLAY over the coming days. The U.S. core personal consumption expenditure (PCE) price index increased 0.5% in May, below market estimates of 0.6%. However, when compared year-over-year, the PCE index surged to 3.4% recording its largest gain since 1991. While the U.S. Federal Reserve expects inflation to be transitory, analysts at BofA differ in their estimation. The bank anticipates U.S. inflation to remain high, in the 2% to 4% range, for the next two to four years and believes the Fed will hike rates in the next six months, barring a financial market crash. Crypto market data daily view. Source: Coin360 If inflation remains elevated, investors are again likely to focus on Bitcoin ( BTC ) to hedge their portfolios. A CoinShares report published on June 21 said it was unsure of inflation in the next five years but believed "adding Bitcoin and other real assets as a pr...
Post a Comment
Read more

CME Group’s Micro Bitcoin Futures Reach 1 Million Contracts Traded

CME Group’s(Chicago Mercantile Exchange) micro-bitcoin futures have already traded more than one million contracts. This instrument allows institutions and retail traders to invest in the crypto asset at a lower price point of 0.1 bitcoin. The contract has only been available for seven weeks, and demand shows there is still room for new derivatives in the crypto market. CME Micro Bitcoin Futures Sell Big When the CME launched a new set of bitcoin derivatives contracts directed to smaller investors almost two months ago, it didn’t expect so much buzz around it. But, according to volume numbers, it seems to have nailed a need in the market for a more granular bitcoin exposure. Now, as more than a million micro-bitcoin futures contracts have changed hands, it’s a big milestone for a very young instrument. That’s an even bigger achievement, considering cryptocurrency is still a niche market. According to Tim McCourt , CME Group’s global head of equity index and alternative investment...
Post a Comment
Read more

Despite BTC’s Price Drop, Bitcoin Held on Exchanges Is 28% Lower Than Last Year

While the price of bitcoin is more than 40% lower than it was 90 days ago on March 29, the number of bitcoin held on exchanges has also been reduced. Last year on the same day in June, 2.79 million bitcoin was retained on crypto trading platforms and a year later roughly 28.67% of the bitcoin held left crypto exchanges. The decreasing quantity of bitcoin kept on centralized exchanges suggests the coins are being held in long-term storage rather than being prepared for trading. Data Suggests Bitcoins Are Being Removed From Exchanges and Into Noncustodial Wallets for Long Term Storage On March 29, 2021, the price was 42.93% higher but there was also 9.54% more bitcoin ( BTC ) held on centralized exchanges. Moreover, the price of BTC was $9,165 per unit, and today as BTC hovers above $33K per unit the price is 262% higher than last year. Interestingly, there was a whole lot more bitcoin on exchanges on June 26, 2020, with statistics showing 2.79 million bitcoin was held in exchange...
Post a Comment
Read more