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Showing posts from August 1, 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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Kenyan Insurance Executive Calls Cryptocurrencies Ponzi Schemes, Warns Users This Will ‘End in Tears’

A Kenyan insurance executive, Julius Kipng’etich has compared cryptocurrencies like bitcoin to Ponzi schemes and has urged his countrymen not “touch this.” In addition, Kipng’etich warned those already involved in crypto trading to be prepared for the consequences as this always “ends in tears.” Bitcoin as a Medium of Exchange Interestingly, when addressing attendees of a business seminar, Kipng’etich does acknowledge that bitcoin already meets one of the conditions for it to be treated as currency. He said: Currency represents two primary things; it is a medium of exchange and a store of value. So any currency is medium, I give you so that you give something. Julius Kipng’etich. Kipng’etich’s view of cryptocurrencies appears to be consistent with that of some central banks. For instance, in its 2019 consultation paper on crypto assets, the South African Reserve Bank (SARB) similarly acknowledges that “crypto-assets have the ability to be used for payments (exchange of such...
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Nigerian crypto adoption rises despite govt crackdown

Nigerians are still hungry for crypto despite the central bank's efforts to quash it. Nigerian cryptocurrency adoption continues to rise in spite of government crackdown, with peer-to-peer (P2P) trade volume for Bitcoin posting its second strongest week on record last month. According to data from Google Trends , Nigeria still ranks number by search interest for the keyword “Bitcoin” as of this writing. P2P Bitcoin trading denominated in the Nigerian Naira has also steadily increased in 2021, with Nigeria ranking behind only the United States as the second-largest market for peer-to-peer BTC trading, according to Useful Tulips. The growing Bitcoin adoption in Nigeria has helped Sub-Saharan Africa emerge as the leading region by P2P volume, with the region posting $18.8 million in weekly volume to beat out North America’s $18 million this past week. Weekly P2P volume by region (USD equivalent): Usefultulips.org A confluence of political and economic crises has spurred local...
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Highly Anticipated Insured Launchpad, Binstarter to Open to the Public on Aug 4th

PRESS RELEASE. Binstarter Protocol; the first and only Insurance Policy Protected IDO Launchpad Protocol is proud to announce to the crypto world that their highly anticipated public sales date has been scheduled on Aug 4th. According to former data collected on the seed sales, the upcoming public sales will have the biggest number of participants. During the seed sales, upwards of 14,500 individuals participated in whitelisting and only 1000 successfully whitelisted to buy BSR tokens. With 13,500 people that did not have a chance to purchase BSR tokens, the public sales are projected to draw an even bigger base of buyers. In addition Binstarter’s initial market cap is only 350K with team tokens locked for 3 years. Binstarter already conducted 2 massive token burns, reducing the total supply by 15.2. Binstarter already conducted 2 massive token burns, reducing the total supply by 15.2%. Binstarter Protocol’s vision is to protect all small investor’s from potential financial risk from...
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Paypal Hiring Over 100 Crypto Positions as Global Cryptocurrency Adoption Rises

Payments giant Paypal is hiring more than 100 crypto-related positions as demand for cryptocurrencies grows. Paypal’s CEO recently revealed the company’s expansion plans, stating, “We continue to be really pleased with the momentum we’re seeing on crypto and we’re obviously adding incremental functionality into that.” Paypal’s Crypto-Related Job Postings Paypal is hiring more than 100 crypto-related positions as the company prepares to expand its crypto services. According to Job postings on the company’s website, there are at least 102 job openings related to cryptocurrency and blockchain technology at the time of writing. While most of the jobs are located in the U.S., there are five job postings for positions in Tel Aviv, Israel, six in Ireland, one in Singapore, one in Hong Kong, and five in Guatemala City for Paypal’s online money transfer service, Xoom. Within the U.S., 22 jobs are in California; 16 in New York; 13 in Texas; 9 in Arizona; and 8 in Illinois. A few other sta...
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DHedge scales up on Polygon, integrates with SushiSwap

dHEDGE’s “v2” Polygon deployment boasts a SushiSwap integration enabling asset managers to access Sushi’s DEX and yield farming functionality. Decentralized asset management protocol, dHEDGE, has launched its V2 deployment on Polygon. The new platform also boasts an integration with popular decentralized exchange, SushiSwap. Speaking exclusively to Cointelegraph, dHEDGE’s Henrik Andersson highlighted v2’s new Guarded Open Access Transactions (GOAT) framework — which enables v2 users to access whitelisted DeFi DApps whitelisted by the dHEDGE decentralized autonomous organization (DAO). Andersson emphasized that the GOAT framework will significantly increase the speed with which dHEDGE is able to launch new integrations with third-party protocols, stating: “It's like a general framework for us to add support for DApps. Instead of having to build specific plugins or connections to DApps, we can use this framework to whitelist DApps.” Launched in late 2020, dHEDGE’s first iterat...
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Governments Need to Stop Dismissing Crypto as Illicit Payments and Reckless Speculation, Says El-Erian

Mohamed El-Erian, an adviser to Allianz and Gramercy Funds Management, says that “The time has come for more western governments to stop dismissing the crypto revolution as some mix of illicit payments schemes and reckless financial speculation.” Western Governments Urged to Stop Ignoring Crypto Revolution Mohamed El-Erian, president of Queens College, Cambridge University, has urged the crypto world and western governments to cooperate. The Egyptian-American businessman is also chief economic adviser at Allianz, the corporate parent of PIMCO, one of the largest investment managers, where he was CEO and co-chief investment officer. Last year, he was also appointed chair of Gramercy Funds Management, a dedicated Emerging Markets investment firm. In an opinion piece which he authored in the Financial Times published Thursday, El-Erian wrote: The time has come for more western governments to stop dismissing the crypto revolution as some mix of illicit payments schemes and reckless ...
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Promoter of Crypto Scheme Touted by Steven Seagal Pleads Guilty, Faces 5 Years in Prison

A promoter of the cryptocurrency scheme previously touted by famous martial artist and actor Steven Seagal has pleaded guilty for his participation. The scheme falsely claimed that it “could generate an 8,000% return for investors within one year.” Crypto Scheme Promoter Pleads Guilty The U.S. Department of Justice (DOJ) announced Friday that John DeMarr, 55, has pleaded guilty “for his participation in a coordinated cryptocurrency and securities fraud scheme through purported digital currency platforms and foreign-based financial accounts.” DeMarr admitted to conspiring with others “to defraud investor victims by inducing them to invest in their companies, ‘Start Options’ and ‘B2G,’ based on materially false and misleading representations.” He was charged in February. The DOJ stated that both schemes were fraudulent. Start Options purported to be a cryptocurrency mining and trading platform while B2G, also known as Bitcoiin2gen, was purportedly an “ecosystem” for its native B2G ...
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Top 5 cryptocurrencies to watch this week: BTC, UNI, LINK, SOL, XMR

Bitcoin’s sharp rally brought out the bulls and if the momentum sustains UNI, LINK, SOL and XMR could move higher. Bitcoin’s ( BTC ) 43% rally from $29,482.61 on July 21 to $42,316.71 on July 30 has invigorated the bulls who had been sitting on the sideli. After the sharp rise, some analysts are debating whether Bitcoin could repeat its sharp bull run seen in 2013 and 2017. Vailshire Capital founder and CEO Jeff Ross highlighted that Bitcoin had rallied ten-fold in the second half of 2013 after facing three months of negative news. Ross said: "I still contend that 2021 will behave in similar fashion." Crypto market data daily view. Source: Coin360 PlanB, the creator of the stock-to-flow price model, said Bitcoin’s comeback in July was “like clockwork.” He said that the stock-to-flow model will remain valid if Bitcoin closes August above $47,000. Meanwhile, institutional investors continue to accumulate Bitcoin when the price is still depressed. Asset management fi...
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Bitcoin Difficulty Increases 6% — It’s Still 48% Easier to Find BTC Blocks Than It Was 30 Days Ago

As expected, Bitcoin’s mining difficulty increased this week jumping 6.03% higher on July 31. The change marks the first increase out of five difficulty adjustment changes. This was after four downward difficulty drops made it 54% easier to mine bitcoin than it was prior to mid-May. Bitcoin’s Mining Difficulty Increases 6%, Difficulty Is Expected to Increase Again in 11 Days On July 31, at block height 693,504, the Bitcoin blockchain’s difficulty adjusts itself depending on how much hashpower is dedicated to the network. The more hashrate dedicated to the BTC chain, the higher the difficulty will rise every two weeks. On the other hand, if a great number of miners go offline and dedicated hashrate drops, the difficulty will drop making it easier for mining participants to find BTC blocks. Bitcoin’s difficulty saw a change at block height 693,504 and increased 6.03% after the difficulty tumbled over 54% for eight consecutive weeks. Bitcoin’s system and how it works is mathemati...
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NFT Leaderboard Study Highlights the Crypto Industry’s Leading NFT Collectors

As the non-fungible token (NFT) space continues to grow, the blockchain analytics Nansen has published a leaderboards list of the top wallets (NFT collectors) that interact with NFTs on a regular basis. The analytics firm combed through 90 million ethereum wallets and found a number of big market players making moves in the NFT space. The NFT Ecosystem’s Most Prolific Market Collectors Non-fungible token (NFT) technology and the supporting ecosystem have grown quite mature in 2021 and it doesn’t seem like it’s slowing down anytime soon. There’s lots of NFT market data coming out too and recorded in real-time. Well known brands, celebrities, and popular organizations are jumping into the NFT fray and all of this is recorded in headlines as well. Nansen’s NFT overall profit leaderboard. Data stemming from nonfungible.com’s 30-day market history shows there were $380 million in NFT sales last month. Now the blockchain analytics provider Nansen has provided statistics on some of th...
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Bank of America outlines 4 potential benefits of El Salvador’s Bitcoin strategy

“More than 70% of the adult population of El Salvador does not have a bank account,” reads the latest Global Research report from Bank of America. “For that reason, democratizing access to electronic payments, through Bitcoin, has a progressive touch.” Bank of America, one of the nation’s largest financial institutions based on total assets, believes El Salvador could have a lot to gain with its latest foray into Bitcoin ( BTC ). In a report published last week, analysts at the bank said El Salvador’s decision to recognize BTC as legal tender could streamline remittances, promote financial digitization, provide consumers with greater choice and open up the country to American firms and digital currency miners. The bank noted that remittances account for a staggering 24% of El Salvador’s gross domestic product, but a sizable chunk of that goes toward transaction fees. “Using Bitcoin for remittances could potentially reduce transaction costs compared to traditional remittance channe...
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Analysts Discuss Bitcoin Over-the-Counter Desks Bubbling With BTC Demand

Digital currency markets have been gathering gains again moving past the lows seen a few weeks ago. This week crypto traders have been discussing over-the-counter (OTC) desks bubbling with demand for bitcoin as the co-founder of 21st Paradigm explained, “high net worth individuals [and] institutions want your bitcoin.” Analyst Says Big Market Players ‘Want Your Bitcoin’ Most traders either use decentralized exchange (dex) platforms or centralized exchange (cex) operations to acquire bitcoin ( BTC ) and a myriad of other digital currencies. However, high-net-worth individuals and institutions usually don’t leverage dex or cex applications, as they choose to trade via over-the-counter (OTC) trading desks. OTC trading or off-exchange trading is trading between two parties directly and usually with help from the OTC desk’s representative. In contrast to trades that take place on cex or dex platforms, these trades are not recorded on order books. Although, transfers from crypto OTC desks...
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PayPal reportedly assembling crypto team in Ireland as Bitcoin adoption grows

The new hires will help PayPal expand its crypto-focused business offering at a time of rapid adoption of Bitcoin and Ether. Global payments provider PayPal is in the process of recruiting for several cryptocurrency-related positions at its Ireland offices, further highlighting the company’s ambitions in the rapidly growing digital asset market.  The Dublin-based Irish Independent, one of the country’s most popular news outlets, reported Sunday that PayPal is looking to fill various crypto-focused roles in compliance, anti-money laundering and business development for its Dublin and Dundalk offices. Related: PayPal set to launch crypto trading in the UK and may embrace DeFi PayPal launched a dedicated crypto and blockchain business unit earlier this year to support its foray into cryptocurrencies, which initially began in October 2020 by allowing customers in the United States to buy Bitcoin ( BTC ), Ether ( ETH ), Bitcoin Cash ( BCH ) and Litecoin ( LTC ). In March of this ...
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Bitcoin Cash Shows Maturity in Its Fourth Anniversary

Born four years ago as a result of the disagreement between two groups over scaling issues, Bitcoin Cash has grown to be so much more. Offering a full suite of solutions for cryptocurrency users, having support from thousands of merchants at a worldwide level, and recently introducing Smartbch, a project that aims to tether smart contracts functions to the protocol, Bitcoin Cash is now more mature than ever. However, mishaps have also happened along the way. Welcome to the World, Shuya Yang! On August 1, 2017, in the midst of a big scaling debate that shook the cryptocurrency world to its core, Bitcoin Cash (BCH) was the result of a series of disagreements among developers and Bitcoin influencers about how to achieve blockchain scaling in the best way possible. Some supporters opted to scale onchain by increasing the block size, and that idea transformed into what Bitcoin Cash is today. Welcome to the world, Shuya Yang! And Bitcoin cash! https://t.co/ymh4Ciwypb — ViaBTC (@ViaBTC...
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