Skip to main content

Posts

Showing posts from July 31, 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

Ukrainian President Signs Law Opening Door for Digital Hryvnia, Regulatory Sandbox

President Volodymyr Zelensky has signed a law that will allow the National Bank of Ukraine to issue its own digital currency. The new legislation, which aligns Ukrainian regulations with EU rules, will also stiffen authentication requirements for clients of payment service providers. New Legislation Allows Ukrainian Central Bank to Issue Digital Currency The President of Ukraine Volodymyr Zelensky has signed the law “On Payment Services” which was adopted by the Ukrainian parliament on June 30, the president’s administration announced this week. The legislation aims to “modernize and further develop” the payment services market and promote the introduction of innovations in the financial sector, a press release explains. One of the provisions in the bill grants the National Bank of Ukraine (NBU) powers to issue its own central bank digital currency ( CBDC ). Authorities in Kyiv have been mulling over a project to create a digital hryvnia for quite a while. A recently conducted su...
Post a Comment
Read more

Antier Solutions’ Crypto Exchange Script Solutions Helping Businesses to Reduce Their Time-to-Market by 50%

PRESS RELEASE. Antier Solutions, a blockchain development company recognized for its end-to-end solutions, is offering crypto exchange script to expedite the development and deployment of crypto exchange platforms by 50%. Given the cut-throat competition to tap into the billion-dollar crypto market, Antier’s cryptocurrency exchange script solutions help start-ups and enterprises to quickly launch their exchange platforms and take the lead. “The crypto market is highly volatile; businesses need solutions that can help them quickly enter the market, especially when the market is favorable. This has catapulted the demand for cryptocurrency exchange clone or script solutions.”, said Parvinder Singh, Chief Technical Officer at Antier Solutions . The company receives several requests from start-ups and established organizations to create a clone of popular exchange platforms. “Out of all the queries we get, the majority ask for a Binance clone script . This is because they strive t...
Post a Comment
Read more

India Reportedly Investigating Binance in Chinese Money Laundering Case

Indian authorities are reportedly investigating cryptocurrency exchange Binance in connection with an ongoing Chinese money laundering case that raked in more than 10 billion rupees ($134 million). Binance’s Regulatory Troubles Continue India is reportedly investigating whether the global cryptocurrency exchange Binance had any role in a Chinese money laundering scheme involving betting apps, local media reported Friday, citing people with knowledge on the matter. The country’s Enforcement Directorate (ED), a law enforcement agency under the Ministry of Finance, has summoned Binance’s executives for questioning, according to the people who asked not to be identified as the matter is still under investigation. The case centers around betting apps run by Chinese operators. They allegedly raked in more than 10 billion rupees over the past 10 months. They were suspected of laundering part of the money through local Indian crypto exchange Wazirx , which was acquired by Binance in 2019....
Post a Comment
Read more

Shark Tank’s Kevin O’Leary Won’t Invest in Dogecoin, Says ‘I Don’t Understand Why Anybody Would’

Shark Tank star Kevin O’Leary, aka Mr. Wonderful, says he does not consider dogecoin an investment. “I don’t participate in that kind of thing. I don’t understand why anybody would,” he said. Kevin O’Leary Won’t Invest in Dogecoin Shark Tank star Kevin O’Leary talked about the meme cryptocurrency dogecoin in an interview with CNBC last week. The chairman of O’Shares ETFs said: I don’t participate in that kind of thing. I don’t understand why anybody would, but that’s their own choice. He explained that investing in dogecoin is like gambling in Las Vegas, noting that he might not even call it “investing” at all. The Shark Tank star explained that when someone invests in a stock, they are betting on the company’s ability to execute its business plan and achieve its goals. In contrast, he said that there is no informed decision making with dogecoin as buyers are simply hoping that the price of the cryptocurrency will increase. In addition, dogecoin has an unlimited supply, unlike ...
Post a Comment
Read more

3 reasons why Ethereum price might not hit $5,000 anytime soon

Ethereum price might be bullish in the short term but there are a handful of factors that could keep the price pinned in its current range. Ether ( ETH ) price has been in a downward spiral ever since the Ethereum co-founder Vitalik Buterin presented at the StartmeupHK Festival 2021. In a fireside chat session on May 27, Vitalik stated that several internal team conflicts caused the Proof-of-Stake migration to delay its launch . As reported by Cointelegraph, ‘Phase One,’ which introduces scalability through sharding, has been postponed to 2022. Furthermore, DeFi’s inherently decentralized nature might not be entirely beneficial because the sharding-style processing would need to run transactions through a relay chain. Ether price in USD at Coinbase. Source: TradingView It’s impossible to pinpoint the reason behind Ether’s sharp fall from its all-time high, but the surging gas fees certainly impacted investors’ expectations. Not only did it made evident how limited the network w...
Post a Comment
Read more

Big Investors Are Pushing up Valuations of Crypto Firms

Venture capital firms and large investors are driving up the prices of crypto startups. Boutique investment firms and family offices are being elbowed out by big venture capital firms, private equity funds, and even some pension funds. VC Firms Driving Up Prices of Crypto Startups Cryptocurrency firms are seeing high valuations due to large investors entering the space, according to Henri Arslanian, Crypto Leader at professional accounting and financial services firm PWC, also known as Pricewaterhousecooper. In an interview with Bloomberg Thursday, the executive explained that boutique investment firms and family offices are being elbowed out by big venture capitalists, private equity funds, and even some pension funds. He noted that smaller venture capital firms are unhappy about this trend. Arslanian described: Let’s say they’re looking at a deal and they believe it’s worth $10 million, and you’re seeing large VCs come in and put a bid in for a higher valuation. This is happeni...
Post a Comment
Read more

ETH Compatible BCH Sidechain Smartbch Successfully Launches Three Nodes

The day before the fourth Bitcoin Cash anniversary, the Smart Bitcoin Cash team (Smartbch), announced the project has launched three nodes as genesis validators. Smartbch disclosed that Btc.com, Viabtc, and Matrixport are participating and the project has officially started its voting period. Smartbch Fires up Smart Chain’s Genesis Validators For quite some time now, the Bitcoin Cash ( BCH ) community has been patiently waiting on the development of the Smartbch project . The reason for this is because Smartbch could unlock massive potential between Ethereum (ETH) and Bitcoin Cash. The protocol could bolster decentralized finance (defi) on Bitcoin Cash and be compatible with the second largest crypto asset in terms of market capitalization. Bitcoin.com News first reported on Smartbch during the first week of April and interviewed the project’s lead developer 15 days later. By the end of the month, Smartbch launched the testnet publicly and which gives developers and decentral...
Post a Comment
Read more

Pro traders look for this classic pattern to spot Bitcoin price reversals

Crypto and stock traders view the inverse head-and-shoulders pattern as an early signal that a bullish trend reversal is in the making. Every trader aims to buy low and sell high, but only a few are able to muster the courage to go against the herd and purchase when the downtrend reverses direction.  When prices are falling, the sentiment is negative and fear is at extreme levels, but it's at times like these that the inverse head and shoulders (IHS) pattern can appear. The (IHS) pattern is similar in construction to the regular H&S top pattern, but the formation is inverted. On completion, the (IHS) pattern signals an end of the downtrend and the start of a new uptrend. Inverse head and shoulders basics The (IHS) pattern is a reversal setup that forms after a downtrend. It has a head, a left shoulder and a right shoulder that are upside down and placed below a neckline. A breakout and close above the neckline completes the setup, indicating that the downtrend has reverse...
Post a Comment
Read more

Amazon rumored to be accepting Bitcoin, MicoStrategy pledges to buy more BTC despite losses, Bitcoin struggles at $40K: Hodler’s Digest, July 25-31

Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link. Top Stories This Week   Amazon plans to accept Bitcoin payments this year, claims insider The crypto community was going wild at the beginning of this week after rumors circulated that Amazon was planning to accept Bitcoin payments. The rumors started after Amazon posted a job opening for a digital currency and blockchain product lead on July 22. Four days later, an anonymous source within Amazon reportedly told London business newspaper City A.M. that the e-commerce giant was planning to start accepting Bitcoin ( BTC ) payments by the end of 2021. This isnt 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 futu...
Post a Comment
Read more

Kentucky Regulators Crack Down on Blockfi Interest-Bearing Accounts

The crypto lender Blockfi is now dealing with regulators from five states as Kentucky has joined the fray against the firm’s Blockfi Interest Accounts (BIAs). On July 30, Blockfi shared a statement on Twitter that explained the Kentucky Department of Financial Institutions (DFI) has sent the company an order that aims to ban new BIA accounts. Blockfi Now Has Problems With Regulators From 5 States The New York City-based cryptocurrency finance company Blockfi was founded in 2017 by co-founders Zac Prince and Lori Marquez. The firm is a cryptocurrency lending firm that offers interest-bearing accounts called “BIAs” and also provides customers with a cryptocurrency-denominated credit card. Since January 2018, the company has allowed lending services that leverage crypto collateral. Bitcoin.com News reported on Blockfi’s initial issues with New Jersey regulators which was followed by problems with Texas, Alabama , and Vermont . The regulators from all of the states take issue with th...
Post a Comment
Read more

Central Bank Governor: South Africa’s Digital Currency Study Ongoing

South African Reserve Bank (SARB) governor, Lesetja Kganyago, has once again confirmed that the central bank is presently studying the feasibility of issuing a digital currency. In his remarks at the SARB’s annual general meeting, governor Kganyago suggested his organization has embarked on this study to keep abreast with the growing trend of central banks that are studying CBDCs. Retail CBDC In the past few years, several central banks including a few in Africa have similarly announced their CBDC studies. Already, the central banks of Ghana and Nigeria have both revealed they will start piloting their respective digital currencies in the second half of 2021. However, as the recent Mybroadband report quotes Kganyago explaining, the SARB’s e-rand study will also seek to understand the feasibility of issuing the CBDC for retail purposes. Kganyago explained: The objective of the study is to investigate if it would be feasible, appropriate and desirable for the SARB to issue a CBD...
Post a Comment
Read more

German law allowing institutional funds to hold crypto comes into effect Aug. 2

As much as $415 billion worth of investments could flow into cryptocurrencies as new laws governing German Spezialfonds go into effect. Beginning on August 2, 2021, German institutional funds will be able to hold up to 20% of their assets in cryptocurrencies, possibly setting the stage for wider mainstream acceptance of Bitcoin ( BTC ) and other crypto assets by the nation’s pension funds.  As Bloomberg reports , the new law alters fixed investment rules governing Spezialfonds, also known as special funds, which are only accessible to institutional investors such as pension funds and insurers. Spezialfonds currently manage about $2.1 trillion, or 1.8 trillion euros, worth of assets. Related: Hedge funds see the crypto market decline as an investment opportunity Tim Kreutzmann, who works for German investment fund association BVI, told Bloomberg that most funds will likely stay well below the 20% mark initially, explaining: “On the one hand, institutional investors such as in...
Post a Comment
Read more

Bitcoin 'supercycle' sets up Q4 BTC price top as illiquid supply hits all-time high

Recent events mean that a Q4 "blow-off top" is now back on the menu as BTC price recovery clings to its 23% weekly gains. Bitcoin ( BTC ) is gearing up for a comeback which should lead it to repeat classic bull run years 2013 and 2017, analysts are arguing. As $42,400 local highs appeared on July 31, narratives around the market are flipping back to a bullish Bitcoin "supercycle." Bulls come out for 2021 close Bitcoin has been busy repairing the impact of the China miner rout since mid May, but last week's price advances were stronger than most anticipated Related:  Bitcoin open interest mimics Q4 2020 as new report ‘cautiously optimistic’ on BTC rally Rather than suffer a serious dip, BTC price action has held onto its gains , which at the time of writing total 23% in a week. What seemed all but impossible just seven days ago is now flavor of the month among an increasing portion of the analytical community. “History doesn’t repeat itself but it ofte...
Post a Comment
Read more

Fed Governor Lael Brainard Can’t Imagine Future Without Digital Dollar

Pointing to a number of reasons why a digital version of the U.S. dollar should be created, Federal Reserve Governor Lael Brainard insisted that not having one wouldn’t lead to a sustainable future. The central bank official believes a digital dollar will have both international and domestic applications. US Fed’s Lael Brainard Can’t Wrap Head Around Not Issuing CBDC With other nations, most notably China , moving forward with their own digital currency projects, Lael Brainard, member of the U.S. Federal Reserve Board of Governors, has highlighted the urgency around the development of a digital dollar. Speaking to the Aspen Institute Economic Strategy Group on Friday, Brainard stated: The dollar is very dominant in international payments, and if you have the other major jurisdictions in the world with a digital currency, a CBDC offering, and the U.S. doesn’t have one, I just, I can’t wrap my head around that. “That just doesn’t sound like a sustainable future to me,” Lael Braina...
Post a Comment
Read more

If you have a Bitcoin miner, turn it on

The opportunity in Bitcoin mining has never looked better, and the U.S. has the infrastructure to take the chance. In the last few weeks, the Bitcoin ( BTC ) mining market has experienced a black swan event, leading to a lot of uncertainty and confusion surrounding the future of the market. This is why I felt it was right to give the public a quick update and explain why it's a fantastic time for Bitcoin mining in the United States. Bitcoin miners are rewarded Bitcoin for securing the network and for each block they mine. As more miners participate, the difficulty rate increases and the reward for each individual miner’s security contribution decreases. And vice versa, when fewer miners are participating, the difficulty rate decreases and the reward for each miner’s contribution increases. Understanding this is key as to why this is an exciting time to get into mining. Related: A trade war misstep? China is vacating crypto battlefield to US banks Recently, we have experience...
Post a Comment
Read more

Bitcoin Price Regains Strength Above $41K, Crypto Market Cap Jumps 6% in 24 Hours

Crypto assets have climbed in value during the last 24 hours as the price of bitcoin tapped a high on Friday, reaching $42,411 per unit at 8:00 p.m. (EDT). The entire market capitalization of all 10,000+ crypto assets is $1.64 trillion on Saturday, up over 6% during the last day. Bitcoin Climbs Over 20% This Week The price of bitcoin (BTC) and a number of other digital assets have climbed higher in value during the last few days. Five days ago, a massive short squeeze propelled the price of bitcoin higher as it jumped just below the $40K handle from a low of $34,500 per unit. Bybit.com’s Liquidation Data. Similarly, there was also a large derivatives expiry on Friday ending the month of July and at around 8:00 p.m. (EDT) a swathe of short positions were liquidated. During the course of the last day, $284.7 million worth of positions were liquidated according to bybt.com’s Liquidation Data . After 8:00 p.m., the price of bitcoin (BTC) quickly spiked to $42,411 per unit and h...
Post a Comment
Read more