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Showing posts from August 11, 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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Soccer Giant AC Milan Seals Sponsorship Deal With Crypto Exchange Bitmex

Italian soccer club AC Milan and Bitmex have reached a long-term partnership agreement that will put the logo of the cryptocurrency exchange on Milan’s jerseys. As part of the sponsorship deal, Bitmex will become Milan’s ‘official sleeve’ and ‘crypto trading’ partner. Bitmex Brand to Feature on Sleeves of Milan Playing Kits Bitmex, a leading crypto derivatives platform, will be AC Milan’s Official Cryptocurrency Trading Partner, the Italian football grand announced on Tuesday. A press release published on its website reveals the two sides have agreed on a multi-year sponsorship. According to the agreement, the digital asset exchange will also become the soccer team’s “first-ever Official Sleeve Partner.” The Bitmex brand will appear on the sleeves of both the men’s and women’s team playing kits in all competitions, including the UEFA Champions League. The logo will also feature on the sleeve of Milan’s esports team AQM’s outfit. BitMEX becomes our first-ever Official Sleeve Part...
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SushiSwap CTO reveals why the project isn't scaling on Optimism anytime soon

Joseph Delong feels that rival DEX Uniswap had preferential treatment from the L2 solutions provider. The chief technology officer of the SushiSwap decentralized exchange has revealed why the protocol is no longer keen to scale using layer two solutions from Optimistic Ethereum. The layer two solutions provider OΞ whitelisted several projects last year including Uniswap and Synthetix, granting them preferential access to its platform as it was being built. SushiSwap was also keen to get on this whitelist but it was not forthcoming, resulting in a decision to delay any further development. In its official documentation , Optimism clearly states “contract deployments to the Optimistic Ethereum mainnet are currently restricted by a whitelist.” In a thread on Aug. 11 titled “Why Sushi isn’t coming to Optimism ," SushiSwap CTO Joseph Delong stated that being rebuffed for whitelisting means the protocol is not “super eager to deploy yet” on the layer two scaling platform He cited...
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Uniswap has now generated more than $1B in fees for liquidity providers

More than $1 billion in fees have been generated for Uniswap’s liquidity providers since its November 2018 launch. Leading decentralized exchange, Uniswap, has become the first DeFi protocol to generate more than $1 billion worth of platform fees for liquidity providers. On August 10, Lucas Outumuro, head of research at crypto data aggregator IntoTheBlock, shared a chart to Twitter showing that the combined fee revenues of Uniswap’s v2 and v3 Ethereum mainnet deployments have surpassed $1 billion. Including the fees generated by both Uniswap v1 and its v3 deployment on Optimism , Outumuro notes that roughly $1.02 billion has been distributed to Uniswap liquidity providers since the protocol’s creation in November 2018. By contrast, IntoTheBlock’s data shows that the Bitcoin network has generated $2.24 billion in fees since its 2009 launch, while the DeFi-driven surge in activity on Ethereum has raised its total fee revenue to $4.74 billion in six years. @Uniswap just became th...
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Chilean Peso stablecoin goes live on Stellar Network

Chilean Peso-pegged stablecoin CLPX launched on Stellar this week, and is hoping to gain traction in the remittance and copper markets. A new stablecoin pegged to the value of the Chilean Peso is now live on the open-source Stellar payments network — but is yet to prove popular with users. Chile-based firm CLPX Inc launched what it describes as the first-ever Chilean Peso pegged stablecoin dubbed the “CLPX” token. According to the public ledger on Stellar Expert, since the launch on Monday the stablecoin has seen limited volume of just $12,689 from a total of 12,902 trades. CLPX was designed to provide a cheaper alternative to traditional Peso-based remittances, with the firm utilizing the Stellar Network as it incurs “substantially” lower fees than wire transfers or remittance services. “The new CLPX token is set to streamline remittances and make it easy for investors worldwide to use the copper-linked Chilean peso as a hedge,” an announcement read. CLPX also has an eye on o...
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Poly Network Defi Hacker Returns a Large Fraction of Tokens, Chainalysis Evaluates Hacker’s Onchain Movements

On August 11, the blockchain intelligence firm Chainalysis published its findings on the recent Poly Network hack which saw the loss of approximately $611 million crypto tokens. The assessment from Chainalysis backed up the claims made by the security company called Slowmist that shows the hacker left a fingerprint on the relatively unknown exchange Hoo.com. As of August 11, at 4:18:39 p.m. (UTC), Poly Network details that the hacker has returned $260 million in assets so far. Chainalysis Observes Hackers Onchain Fingerprints The crypto community has been infatuated with the recent decentralized finance (defi) hack that exploited the Poly Network protocol. Bitcoin.com News reported on the aftermath of the hack and how the hacker started to troll the project with onchain messages. On Wednesday, the blockchain surveillance firm Chainalysis published an in-depth report on what it discovered when it investigated the situation. According to Chainalysis, the hacker stole ETH , WETH, ...
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Dutch Bitcoin family reveals how they safeguard a fortune in crypto

Hardware wallets and a range of secure, but unusual locations, is the storage method of choice for this crypto family. A family that went all-in on Bitcoin back in 2017 has revealed their secrets to safeguarding the asset now that it has increased in price by around 5,000%. The Dutch family of five’s storage plan includes a series of secret locations spread across four different continents. In 2017 the ‘Bitcoin family’ liquidated all of their assets and went all-in on BTC when it traded around $900. With BTC trading over $45,000 today, their undisclosed fortune is substantially larger. Patriarch of the family, Didi Taihutt, explained that he has hidden the hardware wallets across several countries so that he never has to fly very far if access to a cold wallet is needed. Speaking to CNBC , he revealed that there were two hiding spots in Europe, another two in Asia, one in South America, and a sixth in Australia. There were no secret underground bunkers, he added, and the physica...
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Approval incoming? Valkyrie becomes fourth firm to apply for BTC futures ETF

Asset managers apear hopeful the SEC will be more open to Bitcoin ETFs tied to futures contracts than those focused on the spot markets. Alternative financial services firm, Valkyrie Digital Assets, has become the latest company to file for a Bitcoin exchange-traded fund (ETF) offering indirect exposure to BTC via cash-settled futures contracts. According to a draft prospectus dated August 11, the Bitcoin futures contracts will be purchased via a Cayman Island-based subsidiary wholly owned by the fund via exchanges registered with the U.S. Commodity Futures Trading Commission. The prospectus adds that the fund will initially exclusively invest in Bitcoin contracts that are traded on the Chicago Mercantile Exchange (CME), with the ETF targeting a total notional value of its underlying futures contracts “as close to 100% of the net assets of the fund as possible.” Valkyrie also filed for a spot Bitcoin ETF under the Securities Act (1933) in April, however the new filing comes one ...
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Kevin O’Leary Buys More Crypto, Gets Paid in Crypto, Partners With FTX Exchange

Shark Tank star Kevin O’Leary, aka Mr. Wonderful, is increasing his cryptocurrency allocation. He is also taking an equity stake in the FTX crypto exchange and has signed a multi-year deal to become its ambassador and spokesperson. He will be paid in crypto for his services. Kevin O’Leary Increasing His Crypto Allocation Shark Tank’s Kevin O’Leary has revealed that he is increasing his cryptocurrency allocation. He tweeted Tuesday: Finally solved my compliance problems with cryptocurrencies. I’m going to use FTX to increase my allocation and use the platform to manage my portfolios. His tweet followed FTX Trading Ltd. and West Realm Shires Services Inc., owners and operators of FTX.com and FTX.us respectively, announcing “a long-term relationship” with O’Leary. Mr. Wonderful will be taking an equity stake in both companies and will be “paid in crypto to serve as an ambassador and spokesperson for FTX,” the announcement details, adding: He has asked that his compensation for ...
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Poly Network hacker returns $258M, conducts AMA on how it went down

$258 million worth of stolen crypto assets have been returned so far and the hacker claims they are keeping the rest of the funds safe while they negotiate with Poly. The Poly Network hacker has now returned $258 million to the cross-chain DeFi protocol and  conducted a question and answer session detailing how the initial hack went down. In what is being described as the largest DeFi hack to date, the Poly Network suffered a $612 million exploit on Aug. 10 which saw the hacker steal assets from Ethereum, Binance Chain and the Polygon Network. Tom Robinson, the chief scientist at blockchain analytics firm Elliptic told Forbes on Aug. 11 that the hacker has now returned roughly $258 million worth of funds to Poly so far — with $342 million yet to be returned. I like how the PolyNetwork Exploiter is having an AMA right now... what a ridiculous space. pic.twitter.com/FBQieZqdQW — Sam MacPherson (@hexonaut) August 11, 2021 The attacker stated their willingness to return the ...
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SEC Asking for Jurisdiction Over All Crypto Exchanges Is ‘a Blatant Power Grab,’ Says Lawmaker

U.S. Congressman Patrick McHenry has slammed the U.S. Securities and Exchange Commission (SEC) for asking for jurisdiction over all crypto exchanges, including non-securities ones. He called it “a blatant power grab that will hurt American innovation,” adding, “We don’t need another backroom deal between Gensler and Elizabeth Warren.” Lawmaker Slams SEC for Blatant Power Grab Over Crypto Rep. Patrick McHenry from North Carolina released a statement Wednesday in response to a letter SEC Chairman Gary Gensler sent to Senator Elizabeth Warren about cryptocurrency regulation. Senator Warren shared the letter Wednesday. Gensler wrote : “I believe we need additional authorities to prevent transactions, products, and platforms from falling between regulatory cracks. We also need more resources to protect investors in this growing and volatile sector.” McHenry’s statement “on Gensler power grab over digital asset exchanges” explains that the SEC chairman is “asking for jurisdiction of all...
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Nasdaq-Listed Metromile Invests $1 Million in Bitcoin — Sees Rapid Growth in Global Cryptocurrency Adoption

The Nasdaq-listed auto insurance company Metromile has purchased $1 million in bitcoin. The company plans to “become the first insurance company to allow policyholders the option to pay for insurance and receive payment for eligible claims in either bitcoin or dollars.” Auto Insurance Platform Adds Bitcoin to Balance Sheet The Nasdaq-listed insurance company Metromile Inc. disclosed its bitcoin purchase in a filing with the U.S. Securities and Exchange Commission (SEC) dated Aug. 10. Metromile is a digital insurance platform and pay-per-mile auto insurer. The filing states: In June 2021, the company purchased and received $1.0 million of bitcoin. During the three months and six months ended June 30, 2021, the company recorded $0.1 million of impairment losses on bitcoin. “There were no realized gains or losses recognized during the three months and six months ended June 30, 2021,” the filing details. “As of June 30, 2021, the carrying value of the company’s bitcoin digital asse...
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Traders hope for a new altcoin season now that Bitcoin turned $45K to support

Bitcoin’s consecutive daily closes above $45,000 were followed by a 40% rally from ICP, RVN, VGX and EGLD, leading traders to believe that a new altcoin season is starting. This week the total cryptocurrency market capitalization bounced back to $1.9 trillion, which was a 20% weekly increase and the highest level seen since May 20. While the fresh bullish momentum attracted the attention of investors, Bitcoin's ( BTC ) move from $33,400 to $45,900 was pretty much in line with the rest of the market. Whether Bitcoin will finally break the $46,000 resistance remains an open question. However, the longer it takes, the higher the odds that altcoins will outperform the leading cryptocurrency. Total crypto market cap. in USD million (right) and Bitcoin dominance (left). Source: TradingView Not every altcoin performed similarly and only 14 of the top 100 from CoinMarketCap outperformed Bitcoin by 3% or more. Top weekly performers among the 100 largest. Source: CoinMarketCap IC...
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Multi-Billion Dollar Wealth Manager Neuberger Berman Adds Exposure to Bitcoin, Ethereum

The private investment management firm with $402 billion in assets under management (AUM), Neuberger Berman Group LLC, has revealed the company now has active exposure to cryptocurrencies like bitcoin. The multi-billion-dollar asset manager disclosed this information in a Form 497 in order to comply with the Securities and Exchange Commission’s EDGAR filing system. Neuberger Berman’s 497 Shows Bitcoin and Ethereum Exposure Neuberger Berman (NB) has detailed in a Form 497 filing with the Securities and Exchange Commission (SEC) that it is now permitting active exposure to crypto investments. The company is a well known wealth manager with $402 billion AUM today and in 2003 Neuberger Berman merged with Lehman Brothers. Following the collapse of Lehman Brothers on September 15, 2008, Neuberger Berman continued to operate and spinned itself away from the parent company. The filing with SEC shows the firm permits exposure to cryptocurrencies now and mentions the leading crypto assets ...
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Lattice Exchange provides venue for finding undiscovered cryptocurrencies

Crypto investors are always on the hunt for the next low-cap gem. Lattice has created a new platform that could provide investors with an early glimpse into up-and-coming projects. Lattice Exchange, an automated market maker for the DeFi market, has launched a new product that seeks to allow cryptocurrency entrepreneurs to list their tokens and for users to participate in early-stage projects more seamlessly.  Dubbed Lattice Launchpad, the new platform is described as a “one-stop shop for blockchain entrepreneurs” to get their projects recognized by the community. Users can participate in private sales by staking LTX, the native cryptocurrency of Lattice Exchange. LTX holders also have the opportunity to participate in the governance of newly listed projects. All projects are funded through Ether ( ETH ) or stablecoins Tether ( USDT ) and USD Coin ( USDC ). Lattice Exchange also announced that it will soon migrate to Constellation’s Hypergraph Network, which is said to provide ...
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Price analysis 8/11: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, LINK, SOL

Bitcoin and most major altcoins remain above their respective 200-day moving average but the market's momentum will depend on whether BTC can pierce the $48,000 level. Bitcoin’s ( BTC ) strong recovery and march toward the psychological level at $50,000 has improved the overall sentiment in the crypto sector. That has boosted the total crypto market capitalization to over $1.9 trillion . Data from Glassnode shows a sharp increase in the dominance of Bitcoin transactions exceeding $1 million in the past few months. The on-chain analytics firm noted in its report that the transactions by the $1 million to $10 million group surged when Bitcoin corrected to $29,000 in July. This suggests that institutional investors may have been buyi ng, which is “fairly constructive for price.” Daily cryptocurrency market performance. Source: Coin360 Further evidence of possible institutional buying came from CryptoQuant data showing that Bitcoin reserves on derivatives exchanges have decline...
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Vaneck Files for Bitcoin Futures ETF Following SEC Chair’s BTC Futures Regulation Statements

Following a number of statements this week from the U.S. Securities and Exchange Commission’s (SEC) Gary Gensler, wealth management firm Vaneck has filed for a bitcoin futures exchange-traded fund (ETF). Vaneck Files for a Bitcoin Futures-Focused Fund Called the Bitcoin Strategy ETF On August 10, the wealth manager Vaneck filed an application with the SEC in order to list the “Bitcoin Strategy ETF,” a fund that seeks “capital appreciation.” The fund will be an actively managed ETF that leverages bitcoin futures, pooled investment vehicles, and other ETFs that provide exposure to bitcoin (BTC) . The latest Vaneck bitcoin ETF filing stresses: “The Fund does not invest in bitcoin or other digital assets directly.” The Bitcoin Strategy ETF will utilize bitcoin futures under the laws of the Cayman Islands, and it may also invest in “ETFs listed and traded in Canada, and exchange-traded products that provide exposure to bitcoin through the subsidiary.” Vaneck currently commands $63 bil...
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Will the Real Polygon Please Stand Up — Spammers Wrongly Post Coin Drops on Video Game-Related Feed

In a strange twist of fate, two companies named Polygon are the source of a storm of confusion on Twitter as a video game community gets a unique introduction to Polygon’s blockchain technology. Crypto Scammers Hit Game-Related Feed Polygon , the rebranded layer 2 blockchain solution (previously Matic Network), has been mixed up with another identically named organization. This case of mistaken identity has caused some perplexing activity on Twitter as spammers and scammers highlight a “coin drop” to an online American video gaming website named Polygon that is entirely unrelated to the blockchain network. In several posts published by the video game organization’s Twitter feed, which operates under the handle @Polygon , spam accounts with little to no history and activity mentioned coin drops for Polygon and Matic. Twitter users who scrolled past the normal responses to the “Might Be Offensive” content were quickly inundated with crudely written tweets that tagged @POLYGON_BONUS ...
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Coinbase beats earnings estimates as analysts say regulation will ‘stifle’ innovation

COIN exceeded earnings estimates but analysts caution that blanket crypto-sector regulation will “stifle innovation” and possibly cast a shadow on Coinbase's growth. Coinbase Global (NASDAQ: COIN ) rebounded during the early trading hours on Aug.11 after it beat Wall Street forecasts for sales and revenues in the second quarter. The cost to purchase one COIN share surged 4.7% to $282.34 at the New York opening bell. Later, bids for the COIN rose to as high as $294 before pulling back to its current price at $279.72. Coinbase stock daily chart. Source: TradingView Strong Q2 earnings for Coinbase  Coinbase Global reported better-than-expected earnings in the second quarter of 2021and posted net revenue of $2.3 billion. That came to be 27% higher from the previous quarter and 1,042% up on a year-over-year basis. Meanwhile, Coinbase's net income rose from $32 million to $1.6 billion in the same period, surpassing earnings of older and more traditional exchange operators, ...
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