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Showing posts from August 2, 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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SkyBridge buys 38,500 tons of carbon offsets

SkyBridge Capital has purchased 38,436 tons of tokenized carbon offsets. Global investment firm SkyBridge Capital has partnered with carbon credit provider MOSS Earth to purchase tokens representing 38,436 tons of carbon offsets. SkyBridge announced the move on August 2, with founder Anthony Scaramucci forecasting that the Bitcoin mining industry “will be fully renewable by the end of the decade." For the meantime, Scaramucci believes carbon offsets offer an “effective” means for the sector to improve its ecological footprint: "In the interim, carbon offsets represent an effective way to green the Bitcoin network and facilitate adoption by ESG-minded investors.” SkyBridge is an institutional asset manager that provides exposure to BTC via fund products. The firm also has a pending application for a Bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission. MOSS Earth is a climate tech firm that provides carbon credit-backed “MCO2” tokens for ...
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Miley Cyrus performs at birthday party for Mike Novogratz’s daughter

Pop starlet Miley Cyrus was spotted performing at an extravagant private birthday party for actress Gabriela Novogratz, the daughter of Galaxy Digital CEO Mike Novogratz. Pop starlet Miley Cyrus has performed at a private party hosted by Galaxy Digital CEO, Mike Novogratz. According to an August 2 report from Dan’s Paper , the event was held to celebrate the birthday of the billionaire’s daughter, actress Gabriela Novogratz. Cyrus donned a red leotard and performed an assortment of her hit songs including “Wrecking Ball” and “Party in the USA,” in addition to delivering covers of Sinead O’Connor, The Pixies, and Blondie, among others. The appearance was Cyrus' first performance since Lollapalooza 2021 in Chicago on July 29. In line with the party’s Coney Island Mermaid Parade theme, Cyrus performed from a tent plastered with giant mermaids at Novogratz’s home in Amagansett, Long Island. Page Six describes the event as resembling a carnival, noting the attendance of stilt-wa...
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Nodeseeds Launches Three-Tier Membership to Ensure Transparency and Fair Allocation of Projects

PRESS RELEASE. Blockchain venture capitalist firm Nodeseeds has announced the launch of a three-tier membership system to democratize its investment process. Nodeseeds revealed further details in a blog pos t on its medium page. Fair Allocation Tier System According to the post, Nodeseeds stated that the tiers were designed to ensure fair allocation of bonuses to NDS token holders. The three-tier system is divided into Seed Members, Private Members, and Anchor Members. Seed Members is the entry-level tier and the minimum requirement to qualify is to hold 25 NDS tokens. Some of the perks include early access to some projects and discord rooms. Participants also get 2x referral rewards but are limited in their access to get lottery allocations of forfeited funds. Private Members is the intermediate tier and eligible for users with a minimum of 350 in their portfolio. Members have guaranteed allocations for projects ranging from $500 to $1500. Other benefits include 2.5x referral r...
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Binance Discontinues Futures and Derivatives Products in Germany, Italy, and the Netherlands

Binance, the leading cryptocurrency exchange by trading volumes, announced it is discontinuing its derivatives and futures products in Germany, Italy, and the Netherlands. This is likely the consequence of the regulatory crackdown that governments all over the world have exerted on Binance lately. The company also stressed this was the start of a complete plan to wind down their derivatives products offerings across the European region in a now-deleted tweet. Binance Discontinues Derivatives Offering in Germany, Italy, and the Netherlands Binance , one of the biggest cryptocurrency exchanges, has announced it will be winding down its derivatives and futures products in Germany, Italy, and the Netherlands, three countries that belong to the European Union. In its official statement , Binance stressed: As the crypto ecosystem evolves globally, we are continually evaluating our products and working with our partners to meet our users’ needs. Binance could be making reference to the...
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Bitcoin outflows from centralized exchanges surge to 100K BTC monthly

Centralized exchanges have experienced their heaviest week of Bitcoin withdrawals since November 2020. Bitcoin outflows from centralized exchanges have surged to their highest level year-to-date, with roughly 40,000 BTC being withdrawn over the past seven days. According to the Glassnode’s August 2 The Week On-Chain report , Bitcoin outflows have accelerated to a rate exceeding 100,000 BTC per month for just the third time since September 2019. The on-chain analytics provider estimates that just 13.2% of circulating BTC are currently held on exchanges — a new low for 2021. “This represents a near full retracement of the significant inflow volume observed during the May sell-off,” the report noted. BTC Exchange Net Position Change - Glassnode Outflows surged to nearly 150,000 BTC monthly at the end of April 2020 following the violent “ Black Thursday ” crash that saw crypto prices tumble by more than 50% in less than two days after then-U.S. President Trump announced a travel ...
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OpenSea's daily volume is exceeding its 2020 total

Nonfungible tokens appear to be bubbling again, with marketplace OpenSea now processing more volume daily than it did for the entirety of 2020. Leading NFT marketplace, OpenSea, is now processing more transactions daily than it did during the entirety of 2020. On Aug. 2, Devin Finzer, the co-founder and CEO of OpenSea, tweeted that the platform had processed $95 million worth of transactions in two days. Finzer estimates that OpenSea processed $21 million in volume for the entirety of 2021, a the marketplace appears to have enjoyed an increase in daily transaction value by more than 650 times since 2020. In 2020, OpenSea did about $21M in total transaction volume. In the last two days, we did $95M. The growth curve for NFTs is insane. — Devin Finzer (dfinzer.eth) (@dfinzer) August 2, 2021 DappRadar data shows that OpenSea is extending its lead over rival NFT marketplaces, with SuperRare and Rarible currently representing daily volumes of $543,000 and $248,000 respectively....
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Bank of America Sees Benefits in Adopting Bitcoin as Legal Tender in El Salvador

Bank of America has outlined some benefits to be had from adopting bitcoin as legal tender in El Salvador. The opportunities include low-cost remittances, financial digitization, more choices, and greater investments from foreign companies. Bank of America Highlights Opportunities Bitcoin Brings to El Salvador as Legal Tender Bank of America (BOA) outlined some potential benefits in El Salvador adopting bitcoin as legal tender in a report published last week. The analysts, including Latin American strategist Claudio Irigoyen, explained that “The market has been excessively pessimistic about it and is overlooking any argument in favor, even if those benefits are admittedly more uncertain.” Firstly, the report details: Bitcoin could be used as an intermediary for cross-border transfer … Using bitcoin for remittances could potentially reduce transaction costs compared to traditional remittance channels. The Bank of America analysts further noted that bitcoin’s volatility could b...
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US Senator Says Crypto Tax in Infrastructure Bill Is ‘Unworkable,’ Plans to Offer Amendment to Fix It

Several U.S. lawmakers have spoken up against the cryptocurrency tax provision in the $1 trillion infrastructure bill. While the bill has been revised from last week’s version, the text is still “unworkable,” according to Senator Pat Toomey. “I plan to offer an amendment to fix it.” Other lawmakers, including Sen. Ron Wyden, Rep. Warren Davidson, and Rep. Ted Budd have also voiced concerns. Lawmakers Oppose Crypto Tax Provision in Infrastructure Bill The U.S. Senate Committee on Banking, Housing, and Urban Affairs issued a statement by Ranking Member Pat Toomey Monday on a provision in the bipartisan infrastructure package that would tax cryptocurrency transactions. The statement reads: Congress should not rush forward with this hastily-designed tax reporting regime for cryptocurrency, especially without a full understanding of the consequences. By including an overly broad definition of broker, the current provision sweeps in non-financial intermediaries like miners, network vali...
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Korean Regulator to Shut Down 11 Cryptocurrency Exchanges Ahead of Regulatory Deadline

South Korea’s top financial regulator will shut down 11 cryptocurrency exchanges allegedly engaged in fraudulent bank account schemes, local media reported. Meanwhile, the deadline for all crypto exchanges to comply with the country’s regulation is drawing near and most of them have not been able to meet the requirements. 11 Crypto Exchanges Could Be Shut Down South Korea’s top financial regulator, the Financial Services Commission (FSC), will reportedly shut down 11 cryptocurrency exchanges, The Korea Herald reported Monday, citing unnamed industry sources. The 11 crypto exchanges allegedly used fraudulent collective bank accounts and the FSC plans to notify prosecution and police of the alleged illegal activities, the sources added, noting that the exchanges will find it impossible to get approvals from the FSC to continue their businesses. The names of the exchanges have not been disclosed. Crypto exchanges must obtain approval from the FSC by Sept. 24 to continue operations. ...
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China's attempt to kill Bitcoin failed — Here are 3 reasons why

Bitcoin’s hashrate recovery, steady peer-to-peer markets and the steady volume exhibited by Asia-based exchanges suggest that China’s attempt to ban BTC was ineffective. Bitcoin ( BTC ) might have suffered its largest coordinated attack over the last couple of months, but in this instance, the investor community did not capitulate. China outright banning mining in most regions  after giving BTC miners a two-week notice and this caused the single largest mining difficulty adjustment after the network hash rate dropped 50%. The market sentiment surrounding Bitcoin was already damaged after Elon Musk announced that Tesla would no longer accept Bitcoin payments due to the environmental impact of the mining process.  It remains unknown whether China’s decision was influenced or related to Musk’s remarks, but undoubtedly those events held a negative effect. A couple of weeks later, on June 16, China blocked cryptocurrency exchanges from web search results. Meanwhile, deriva...
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Digital Transformation Law Draft Would Allow Users to Pay Mortgages With Crypto in Spain

A new proposal of a digital transformation law, written by a group of lawmakers in Spain would introduce the possibility of paying mortgages with cryptocurrency. The law draft also gives different incentives for companies and organizations using and developing solutions using these technologies, including tax cuts. Banks are also included in the regulation, and the draft includes the use of smart contracts for managing some processes in these organizations. Spain Would Include Crypto in Its Mortgage System A new draft of a digital transformation law, presented by a group of lawmakers from the Popular Party in Spain, would regulate and legalize several new technologies like cryptocurrency, blockchain, and AI in the country. Among its numerous proposal, it contemplates the possibility of house owners paying their mortgages with cryptocurrencies, enticing the use of these assets as means of exchange. But the proposal also extends this functionality to investment firms to create their ...
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NCR Corporation plans to purchase Bitcoin ATM company LibertyX

LibertyX currently services 20,000 retail stores in the U.S. with 9,500 crypto ATMs. Enterprise technology provider NCR Corporation has announced an agreement to buy LibertyX, the company that launched one of the first retail Bitcoin ATMs. In a Monday announcement, NCR said it expected to purchase LibertyX later this year depending on regulatory licensing consents and approvals. The firm said it planned to offer LibertyX’s capabilities as part of its solutions for banks, retailers and restaurants, implying NCR clients could see crypto withdrawals, purchasing, and payment features after the deal is finalized. “Our customers require a complete digital currency solution, including the ability to buy and sell cryptocurrency, conduct cross-border remittance and accept digital currency payments across digital and physical channels,” said NCR chief technology officer Tim Vanderham. Related: LibertyX launches Bitcoin-to-cash sales at ATMs in United States LibertyX has allowed users to ...
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How cross-chain liquidity aggregation can shape the future of DeFi

What will ease the burden of DeFi users and remove some of the barriers to entry for newer market participants? This project sees the future of DeFi as multichain co-existence. As decentralized exchanges now represent a significant amount of crypto trading volume, it is vivid that these platforms will play a big role in the smart economy of the future. Automated market makers, in particular, changed the game by eliminating the need for order books entirely and replacing them with liquidity pools. This model was a win-win for both traders executing swaps and liquidity providers incentivized to supply their tokens and earn fees from traders. Even the sporadic liquidity issues on DEXes, brought about by a sometimes fragmented marketplace, were addressed by the emergence of DEX aggregators – platforms that would essentially pool together fragmented liquidity onto a single platform. For the most part, however, these DEX aggregators are limited to connecting liquidity pools on Ethereum...
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Price analysis 8/2: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, BCH, LINK

Bitcoin price has hit a few barriers but many altcoins appear positioned for continuation. Bitcoin ( BTC ) dropped back below $39,000 on Aug. 2, suggesting that short-term traders were booking profits after the price failed to close above $42,451.67.  However, lower levels could again attract buying as seen in late July. Data from Santiment showed that Bitcoin held on wallet addresses storing between 100 and 10,000 Bitcoin rose to a new all-time high at 9.23 million Bitcoin on Aug. 1. The previous all-time high for this group of investors was recorded on April 5, just over a week before Bitcoin hit an all-time high of $64,854 on April 14. Santiment highlighted that the “addresses have accumulated approximately 170,000 more Bitcoin” in the last four weeks. A similar pace of purchase was seen in late December 2020, just before the start of the strong bull move in 2021. Daily cryptocurrency market performance. Source: Coin360 CoinShares data showed that the assets under man...
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New Games from iSoftBet Create Joyously Beautiful Experiences at Bitcoin.com’s Casino

Fun and excitement have been let loose for players to experience amazing new games at Bitcoin.com’s very own crypto gaming portal! An enthralling range of games are on offer at Bitcoin.com Games – the crypto casino that players have come to love to play their favorite games on in recent years. Ever since its inception back in 2016, the casino portal has quickly become a favorite amongst crypto enthusiasts owing to the wide variety of games, a robust platform, and the trustworthiness of the Bitcoin.com brand. With undeniably exciting games from highly sought-after gaming providers such as BGaming, Playson, Pragmatic Play, and more, the crypto casino is now upping the ante by adding a slew of new titles from another premium provider- iSoftBet . Players can now enjoy massively popular hits such as Aztec Gold Extra Gold Megaways, Fu Fortunes Megaways, Twisted Tale Series: Moriarty Megaways, and many other high octane slot games from the newly-added developer. Bitcoin.com Games is ...
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Brad Garlinghouse's lawyers file request for Binance documents in 'international' challenge to SEC lawsuit

"The offers and sales that the SEC challenges did not occur in this country and are not subject to the law that the SEC has invoked in this case," said the legal team. The lawsuit between Ripple Labs and the U.S. Securities and Exchange Commission, or SEC, now involves major crypto exchange Binance after a recent filing on behalf of Ripple CEO Brad Garlinghouse. According to court documents filed in the Southern District of New York on Monday, Garlinghouse’s legal team has requested documents “relevant to the case and unobtainable through other means” from Binance Holdings Limited, the Cayman Islands-based subsidiary of the major cryptocurrency exchange. The filing cited U.S. laws concerning the Department of State and the Hague Convention and asked the court to issue a letter of request for the Central Authority of the Cayman Island to compel evidence from Binance. “Mr. Garlinghouse seeks foreign discovery on the basis of his good faith belief that [Binance Holdings Lim...
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Mastercard Outlines Plans for Cryptocurrencies, Stablecoins, Central Bank Digital Currencies

Mastercard’s CEO has outlined the company’s plans to develop products and services around cryptocurrencies, stablecoins, and central bank digital currencies (CBDCs). “We want to be playing a role across all of them … It’s obviously a vibrant space around digital currencies,” said the CEO. Mastercard Wants a Role in All 3 Crypto Areas Payments giant Mastercard provided an update of its cryptocurrency plans during the company’s earnings call Thursday. CEO Michael Miebach explained that his company wants a role in three crypto areas. In addition to cryptocurrencies, such as bitcoin, the company also focuses on the private sector’s stablecoins, and central bank digital currencies. He affirmed: We want to be playing a role across all of them … It’s obviously a vibrant space around digital currencies … This is a relevant technology. As a multi-rail player, we got to be in this space because people are looking for answers. For cryptocurrency, Miebach explained: “We’re making it easier ...
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Blockchain identity market to grow $3.58B by 2025, report claims

A new forecast for the global blockchain identity management market expects growth at a compound annual growth rate of almost 71% during 2021-25. A new report on the potential for blockchain identity management solutions to become integrated across sectors has forecast strong growth for its global market, at a compound annual rate of close to 71%. The report grounds its predictions on a study broken down into segments: by sector – e.g., government, healthcare, banking, financial services and insurance (BFSI) – geography, and applications. It was published by the Lyon-headquartered market research solution provider ReportLinker.  Drawing on an analysis of several existing blockchain identity management market vendors – Accenture, Amazon, Bitfury Group, Civic Technologies, and others – the report expects the total global market to grow by $3.58 billion between 2021 and 2025. Related:  The future of DeFi is spread across multiple blockchains The study’s baseline assumption...
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Saudi Aramco dismisses 'false and inaccurate' rumors on Bitcoin mining

Saudi's biggest oil exporter denied claims of involvement in Bitcoin mining activities but continues to bet on blockchain-focused businesses. The Saudi Arabian Oil Company (Saudi Aramco) had stirred interest among crypto enthusiasts last year after investing $5 million in a blockchain-based oil trading company Vakt . While this move aimed to digitize and streamline post-trade processing, Saudi Aramco was also rumored to undertake Bitcoin mining activities.  However, Saudi Arabia’s state oil company released an official statement to dismiss the ongoing rumors around mining Bitcoin. It said: “With reference to recent reports claiming that the company will embark on Bitcoin mining activities, Aramco confirms that these claims are completely false and inaccurate.” Many governments, including China, have recently unleashed a crackdown on home-grown crypto mining activities, forcing businesses to find refuge in other crypto-friendly countries.  On the other hand, Middle...
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Brand executive posts discounted Utah home listing for Dogecoin

The influencer marketer says prospective buyers can get 10% off the listing price of his house listing if payment is made in Dogecoin. Crypto as a payment option for real estate continues to gain traction as the adoption of virtual currencies for both commercial transactions continues to take shape. Scott Paul, the founder of Utah-based marketing agency Wooly, put up his Saratoga Springs home for sale with Dogecoin ( DOGE ) as an acceptable payment method, according to a report by Fox 13 on Sunday. While the listing price is set at $399,000, Paul is reportedly ready to offer a 10% discount if the purchase is made via Dogecoin. Commenting on the potential volatility risk associated with a real estate deal conducted via DOGE, Paul remarked: "I’m a very risky person. I think the chances of me selling it in Dogecoin and having it go up by 20%, 30% or 40% is more likely.” Given the current price of Dogecoin, Paul’s house listing at a 10% discount will amount to 1,734,782.60 DOGE....
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There’s no reason not to hold Bitcoin for 100 years, Michael Saylor says

Nobody is in a hurry with Bitcoin, according to MicroStrategy CEO Michael Saylor: “We’re thinking that it’s the future of the property.” Michael Saylor, CEO of business intelligence firm MicroStrategy, has staunchly defended the company’s bullish, long-term Bitcoin ( BTC ) position based on its unique potential to evolve into “the future of the property.” In an interview with Bloomberg TV, Saylor argued that MicroStrategy’s big bet on Bitcoin, which it has turned to the debt markets to sustain, is the “highest upside, lowest risk strategy” the company can pursue. “Some people think diversification means buying other types of cryptocurrencies or other kinds of equities,” he said. “We think that by holding Bitcoin, we’re diversified. Because we can see Bitcoin on the balance sheets of cities, states, governments, companies, small [and] big investors, ultimately, Bitcoin is going to be the core to tech innovation at Apple, Amazon and Facebook, so we want to be holding the Bitcoin.”...
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