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Showing posts from July 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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FTX Slashes Leverage Limit from 100x to 20x — Community Suspects Competitors Will Follow Example

FTX CEO Sam Bankman-Fried told his Twitter followers on Sunday that his crypto exchange has lowered its margin trading limit from 101x to 20x. Prior to the change, FTX supported 50x, 100x, and 101x leverage but Bankman-Fried said these high leverage positions represent “a tiny fraction of volume.” FTX CEO Announces Cutting Leverage Limits, 2x Leverage the Most Common FTX customers will have to adjust to changes as the crypto-asset exchange has dropped its max leverage rate from 101x to 20x this weekend. Of course, the formerly supported 50x, 100x, and 101x positions are considered high leverage. Bankman-Fried told his 233,000 Twitter followers the news on Sunday when he stressed that “an effective margin system is integral to an efficient economic system” and added that “there are limits to everything, though.” Bankman-Fried added : There’s been a bunch of discussion recently around high leverage (> 20x). Nearly every crypto derivatives exchange allows it, and nearly every on...
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Uniswap delists 100 tokens from interface including options and indexes

Synthetic tokens and tokenized stocks have made it onto Uniswap Labs’ black list as regulatory concerns mount. The world’s leading decentralized exchange, Uniswap, has announced the delisting of a number of tokens from its app interface. Uniswap Labs made the announcement on July 23, emphasizing that the tokens had been removed from the app interface only, and that the protocol remains immutable: “These changes pertain to the interface at app.uniswap.org — the Protocol remains entirely autonomous, immutable, and permissionless.” The company Uniswap Labs is the software developer that has built the front-end web app portal. The front-end is separate from the Uniswap protocol itself, which is autonomous code that was released as a public good. In the blog post, Uniswap Labs hinted that increased regulatory pressure may have influenced its decision, stating: “we monitor the evolving regulatory landscape.” The company also described the move as “consistent with actions taken by othe...
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Analyst Jim Cramer Calls Ethereum the ‘Pied Piper of Crypto’ but Won’t Add to His Position

CNBC’s stock analyst and crypto investor Jim Cramer says he’s still bullish on his choice to invest in ethereum after removing bitcoin from his portfolio. Three days ago, Cramer tweeted that he’s “sticking with” his ethereum position “but not adding to it.” Jim Cramer: ‘Ether Is a Pied Piper Security’ A number of CNBC broadcast hosts are proponents of cryptocurrencies and Jim Cramer , the host of the “Mad Money” show is one of these individuals. At the end of June, Bitcoin.com News reported on how Cramer moved his bitcoin position into ethereum instead and he opined that ether was “more of a currency.” A few days ago, Cramer tweeted about sticking to his ETH position but also emphasized that he wasn’t adding to it. Cramer also discussed his fondness for ethereum ( ETH ) in a recent interview with the news outlet thestreet.com. Jim Cramer who was once a bitcoin bull has now turned his attention to ethereum. In fact, in late June Cramer said he wanted BTC to get “wrenched out” w...
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FTX reduces max leverage from 101x to 20x to encourage ‘responsible trading’

Sam Bankman-Fried, the CEO of surging crypto derivatives exchange, FTX, has slashed its maximum leverage in a move to promote responsible trading practices. Crypto derivatives exchange FTX has decided to curb risky trading by limiting the leverage available to its users. The exchange, founded by crypto billionaire Sam Bankman-Fried (SBF), has reduced the maximum leverage available on the platform down to 20x, a significant reduction from its previous limit of 101x. In a July 25 tweet announcing the updated leverage limits, Bankman-Fried said that the decision was made in light of the exchange’s efforts to “encourage responsible trading.” He asserted that leveraged trading is not a significant part of the exchange’s overall volumes, estimating the average open margin position on FTX is leveraged by roughly 2x, stating: “This will hit a tiny fraction of activity on the platform, and while many users have expressed that they like having the option, very few use it.” The reaction ...
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BTC gains 15% in 3 hours amid tight squeeze

Bitcoin has quickly surged to test resistance at $40,000 for the first time this month. The price of Bitcoin has surged more than 10% over just a few hours earlier today, with prices quickly surging from roughly $35,000 to tag just shy of $40,000 on July 26. Price action shows a violent short squeeze that occurred as prices broke above $35,000, with bullish momentum suddenly accelerating as prices quickly rallied 15% from roughly $34,000 to $39,800 over the course of fewer than three hours. And folks, we have our squeeze. https://t.co/Lflcp7MZuw — Willy Woo (@woonomic) July 26, 2021 By contrast, BTC had taken the past five days to gain from roughly $30,000 to $34,000. As of this writing, Bitcoin is changing hands for roughly $38,500. According to CoinMarketCap, Bitcoin is the top gainer for the past 24 hours among the top 30 crypto assets by capitalization, posting a gain of nearly 13%. The sudden rally has seen numerous technical indicators return to offering bullish signals...
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Portfolio Strategist Expects Cardano to Become Mainstream Cryptocurrency Alongside Bitcoin and Ether

A portfolio strategist for American financial services firm Morningstar says that cardano could become a mainstream cryptocurrency alongside bitcoin and ether, forming a “big three” of mainstream cryptocurrencies. Strategist Believes Cardano, Ether, Bitcoin Could Become Mainstream Cryptocurrencies Amy Arnott, a cryptocurrency-focused portfolio strategist at Morningstar, shared her views on crypto regulation, ether, and cardano in an interview with the Insider last week. Noting that since many cryptocurrencies are not cash-generating, Arnott said it is difficult to determine a suitable price for them. However, she explained that ether has an in-built price to an extent because it is used to power decentralized finance (defi) transactions and support non-fungible tokens (NFTs). The strategist elaborated: The fact that ether is used as a utility should provide some sort of price floor, but I’m not sure what that should be. A lot of people talk about a network effect where these curr...
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43% of Singaporeans own crypto, according to Independent Reserve survey

The inaugural 2021 Independent Reserve Cryptocurrency Index, or IRCI, is based on a poll of 1,000 Singaporeans from a representative background of gender, age and location. Cryptocurrency adoption is growing in Singapore , especially among younger generations looking to capitalize on the generational wealth potential of Bitcoin ( BTC ) and other digital assets, according to a new survey conducted by Asia-Pacific cryptocurrency exchange Independent Reserve.  Forty-three percent of the polled respondents said they owned cryptocurrency, with 46% planning to buy digital assets in the next 12 months, the IRCI results showed. Two-thirds, or 66%, of respondents in the 26 to 45 age bracket said they owned cryptocurrencies. Unsurprisingly, 93% of the polled said they have heard of Bitcoin. Nearly 40% of respondents described BTC as an “investment asset” and 25% called it a “store of value” or “digital gold.” Among those aged 26 to 35, three-quarters said they believe cryptocurrencies ...
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Jack Dorsey Calls Bitcoin a ‘Big Part’ of Twitter’s Future as a Global Currency

Twitter CEO Jack Dorsey says that bitcoin will be a big part of the company’s future. “If the Internet has a native currency, a global currency, we are able to move so much faster with products such as Super Follows, Commerce, Subscriptions, Tip Jar, and we can reach every single person on the planet,” he said. Bitcoin Set to Be a Big Part of Twitter Twitter announced its quarterly earnings Thursday that beat analysts’ forecasts. During the company’s Q2 earnings call, CEO Jack Dorsey said that bitcoin would be a “big part” of the company’s future. Dorsey said during the call: “There are three trends relevant to Twitter and you, our shareholders: AI, decentralization, and the Internet finally having access to a global native currency in bitcoin. All these will help us do our jobs better, and we intend to lead the way in each.” During the Q&A part of the call, Douglass Anmuth, an analyst with JPMorgan Chase & Co., asked Dorsey about how he sees bitcoin becoming more integrat...
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US Senator Launches Investigation Into ‘How Cryptocurrencies Facilitate Cybercrimes’

A U.S. senator has launched an investigation into the rise of ransomware attacks as well as how cryptocurrencies facilitate cybercrimes. “The investigation will also look into current oversight efforts and regulations related to virtual currencies,” the senator explained. Investigation Into Crypto’s Use in Cybercrimes U.S. Senator Gary Peters announced last week a bipartisan “investigation into [the] rise of ransomware attacks and how cryptocurrencies facilitate cybercrimes.” Peters is the chairman of the Homeland Security and Governmental Affairs Committee. He has led several efforts to bolster the U.S. cybersecurity defenses. The announcement states that he “is conducting an investigation into the role cryptocurrencies continue to play in emboldening and incentivizing cybercriminals to commit ransomware attacks that pose an increasing threat to United States national security.” Senator Peters stated: The increased use of cryptocurrencies as the preferred method of payment in ...
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Number of Cryptocurrency ATM Locations Soars Past 24K Worldwide

The number of cryptocurrency ATMs has surpassed 24,000 globally. Out of 75 countries with crypto ATMs, the U.S. tops the list with the most locations. 24K+ Cryptocurrency ATMs Worldwide The number of cryptocurrency ATMs has exceeded 24,000 globally, according to the crypto ATM tracking website Coinatmradar . At the time of writing, the total number of crypto ATMs worldwide stands at 24,022 locations. The machines are located in 75 countries. The U.S. tops the list with 21,161 locations, followed by Canada with 1,698 locations and the U.K. with 174 locations. There are 42 cryptocurrency ATM manufacturers. Genesis Coin tops the list with 9,813 machines, followed by General Bytes with 5,720, Bitaccess with 2,766, and Coinsource with 1,684 machines. The largest crypto ATM operator out of 617 operators in total is Bitcoin Depot, which has 3,793 machines, followed by Coin Cloud with 2,629, and then Coinflip with 2,498 machines. Last week, a leading convenience and fuel retailer, Circ...
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Top 5 cryptocurrencies to watch this week: BTC, ETH, ICP, AAVE, LUNA

ETH, ICP, AAVE and LUNA could rally higher over the coming days if BTC funds support above the 50-day moving average. Bitcoin’s ( BTC ) recovery is facing stiff resistance near the $35,000 mark but Bloomberg Intelligence senior commodity strategist Mike McGlone remains bullish . In his latest analysis, McGlone said that the probability of Bitcoin hitting $60,000 is greater than the price dropping to $20,000. Institutional investors seem to be using the weakness in Bitcoin to build their positions. Cathie Wood's Ark Invest added more than 450,000 shares of Grayscale Bitcoin Trust in two separate buys in the past week, increasing their holdings to more than 9 million shares. In addition, Edge Wealth Management and Rothschild Investment Corp also added GBTC shares to their portfolio. Crypto market data daily view. Source: Coin360 However, not everyone is so bullish on Bitcoin. Analysts at Delphi Digital have pointed out that Bitcoin is testing the support at the 12-month mov...
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Crypto Companies Establish Presence, Hire Talent in Ireland

With a friendly attitude towards financial innovation, the Republic of Ireland has become a desired destination for fintech businesses that need unimpeded access to the common European market. Cryptocurrency companies have been opening offices in the EU member state with some well-known players now looking to hire local talent. Major Crypto Companies Set Up European Branches in Ireland, Fill New Positions California-based cryptocurrency exchange Kraken has chosen Ireland as its European base, the Irish daily Independent reported. The company, a major provider of digital asset trading services in the United States is now forming a team in Dublin to support its European operations, the newspaper revealed on Sunday. According to the publication, the crypto platform has around 2,000 employees globally. Three ads for open positions with Kraken have been published on Glassdoor in the past month or so – for software project manager, compliance risk officer, and senior site reliability en...
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Namibia Central Bank to Complete Crypto Study By April 2022 — Governor Says Current Laws Do not Permit Use of Digital Assets

The Bank of Namibia (BON) is on course to complete its study into cryptocurrencies by April 2022, the central bank governor, Johannes Gawaxab recently confirmed. The governor however reiterated that cryptocurrencies are not legal tender as there is currently no provision for digital currency use in the country’s laws. Although Gawaxab did acknowledge that cryptocurrencies “are not a bad thing,” he still argues that attempts to approve the use of cryptocurrencies in Namibia will not be easy. In a video shared by the country’s state broadcaster, the governor explains why it’s almost impossible to formally introduce cryptocurrencies in that country. He explained: As Common Monetary Area [CMA] four countries, Lesotho, Swaziland, South Africa and Namibia, we need to collectively look at the cryptocurrencies. We cannot look at [this] just as one country because this going to impact the [entire] CMA currency pool. The Governor’s Crypto Warning Namibia, as a member of CMA, is ob...
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Amazon plans to accept Bitcoin payments this year, claims insider

“It begins with Bitcoin,” an anonymous insider said in describing Amazon’s intent to enter the cryptocurrency payments arena. An anonymous source within Amazon has reportedly  told London business newspaper City A.M. that the e-commerce giant is planning to accept Bitcoin ( BTC ) payments by the end of 2021, possibly setting the stage for broader mainstream acceptance of crypto transactions.  “This isn’t just going through the motions to set up cryptocurrency payment solutions at some point in the future – this is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work,” the anonymous source told City A.M., according to a report published on Sunday Related: Bringing the crypto payments ecosystem around the world: Ray Youssef She indicated that, while Bitcoin is the first step in Amazon’s crypto ambitions, executives at the company were keen to add other established cryptocurrencies in the future. The “directive is coming from the very to...
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Coinbase, Executives, Investors Hit With Lawsuit Over Nasdaq Listing

A class-action lawsuit has been filed against cryptocurrency exchange Coinbase, its executives, and investors over the company’s direct listing on Nasdaq. “According to the complaint, the registration statement and prospectus used to effectuate the company’s offering were false and misleading,” the lawsuit alleges. Class Action Lawsuit Against Coinbase Scott+Scott Attorneys at Law LLP announced Friday that it has filed a securities class action lawsuit against Coinbase Global Inc. (NASDAQ: COIN), with Donald Ramsey as the lead plaintiff. The lawsuit also names several Coinbase directors and officers, including CEO Brian Armstrong, as defendants. Other defendants include venture capital firms and investors that benefited from Coinbase’s direct offering , including Marc Andreessen, Fred Ehrsam, Fred Wilson, AH Capital Management, Tiger Global Management, Union Square Ventures, and Viserion Investment. Coinbase is the largest cryptocurrency exchange in the U.S. According to its webs...
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Countries representing over 90% of global GDP are exploring CBDCs

Governments around the world are pouring more resources into CBDC research and exploratory use cases. Among the major economies, China appears to be pulling ahead and has plans to implement digital-yuan usage during the 2022 Winter Olympics in Beijing. The quest to understand the opportunities and challenges of a central bank digital currency, or CBDC , is underway in 81 countries, with five nations fully implementing a digital version of their currency, according to a new tracker from the Atlantic Council.  The Caribbean region is home to all five CBDCs that are currently in use, with The Bahamas , Saint Kitts and Nevis, Antigua and Barbuda, Saint Lucia and Grenada all implementing their digital cash systems. CBDCs are in their pilot stage in 14 other countries, including South Korea and Sweden, the tracker shows. Created in 1961, the Atlantic Council describes itself as a nonpartisan organization that seeks to promote U.S. leadership on various world issues. The CBDC tracke...
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81 Countries Are Now Exploring Central Bank Digital Currencies — 5 CBDCs Fully Launched

Eighty-one countries are now exploring central bank digital currencies (CBDCs), according to a new tracker. This number is 46 more countries than the number in May last year. In addition, five countries have fully launched their own digital currencies. 81 Central Banks Explore Launching Own Digital Currencies The Atlantic Council’s Geoeconomics Center unveiled a new central bank digital currency (CBDC) tracker featuring an interactive database last week. The Geoeconomics Center described itself as “a nonpartisan organization that galvanizes U.S. leadership and engagement in the world, in partnership with allies and partners, to shape solutions to global challenges,” its website states. The original version of the CBDC tracker, launched in April last year, has been used by the U.S. Federal Reserve and the Bank of International Settlements (BIS), the center claims, adding that according to the new tracker: 81 countries (representing over 90 percent of global GDP) are now explorin...
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This Year’s Gallup Poll Findings Suggest 6% of US Investors Own Bitcoin

Young U.S. investors are more interested in bitcoin investments than they were three years ago, according to a poll stemming from the Gallup Investor Optimism Index. This year’s poll surveyed 1,037 participants and findings suggest 6% of American investors own bitcoin. American Bitcoin Investors Increase by 4% in 3 Years The American survey and analytics firm Gallup has published new findings from a recent survey the company did on bitcoin investing. The firm’s survey called the Gallup Investor Optimism Index explains there is “more momentum among investors younger than 50.” Gallup poll findings on June 2021 stemming from the Gallup Investor Optimism Index. In 2018, Gallup’s last report had shown that only 2% of investors own bitcoin but in 2021, that metric has increased to 6%. The American adults that participated said they owned roughly $10K in investments like equities and bonds. Further, Gallup’s researchers say that the number of owners increases for younger generations....
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