Skip to main content

Posts

Showing posts from August 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...
Post a Comment
Read more

11% of young Americans have invested their stimulus checks into crypto

Young Americans are choosing crypto over mutual assets and ETFs to invest their stimulus checks. A new survey has found that more than one in ten American citizens aged between 18 to 34 have invested part of their Covid-19 stimulus checks into crypto assets. Conducted by CNBC and research firm Momentive, the survey  queried 5,530 adults and found that 11% of survey participants had purchased cryptocurrency with their stimulus money. Roughly half of the respondents were found to have funneled their stimulus money into investments broadly — with 15% seeking exposure to stocks, 9% investing in mutual funds, and 6% backing exchange-traded funds (ETFs). The majority of young Americans appear bullish on cryptocurrency’s future prospects, with 60% of survey participants indicating they see digital assets as a long-term investment. By contrast, 21% described crypto as a short-term investment, while 26% said they are engaging with the market out of excitement. Crypto appetites am...
Post a Comment
Read more

OnlyFans reverses decision to ban porn after assurances from 'banking partners'

At least one bank appears to have changed course after OnlyFans went public about banks blocking payments. OnlyFans has made a sharp u-turn on its decision to ban sexually explicit content after it received a  backlash from creators and some new assurances from at least one bank suffering bad PR. The platform became wildly popular by connecting online sex workers to subscribers, but this has not gone down well with a number of major banks. The firm was forced to change its policy on Aug. 19 to prohibit “sexually explicit conduct” following pressure from the Bank of New York Mellon, Metro Bank, and JPMorgan Chase, who refused to provide services to users of the platform. In a tweet on Aug. 25, OnlyFans stated that it has now reversed this decision and it “will continue to provide a home for all creators.” Thank you to everyone for making your voices heard. We have secured assurances necessary to support our diverse creator community and have suspended the planned October 1...
Post a Comment
Read more

Crypto soars to account for 73% of trading commissions on eToro in Q2

According to eToro’s Q2 report, crypto drove the 125% surge in trading volumes in Q2, with crypto representing 73% of total trading commissions. Crypto grew to represent 73% of trading commissions on popular retail trading app eToro in the second quarter. eToro announced its Q2 results on Aug. 25, with the firm posting $362 million worth of total trading commissions and reporting its assets under administration had reached $9.4 billion. In an investor update released on the same day, the firm outlined that crypto-assets accounted for 73%, or $264.26 million of commissions, which marked a massive 2259% increase compared to the $11.2 million reported in Q2 2020. Overall trading volumes are up 125% on Q2 2020, with Yoni Assia, the CEO and co-founder of eToro noting in the announcement that the growth was “underpinned by long-term secular trends in investor behavior” and enabled by providing “simple access” to crypto via a user-friendly mobile interface along with financial educati...
Post a Comment
Read more

Asset managers and companies accumulate 1.2M Bitcoin worth $57 billion

While asset managers have accumulated 4% of Bitcoin’s supply, private and public companies have also amassed 1% each. Around 6% of Bitcoin’s circulating supply has been accumulated by asset managers and companies, signaling ever increasing mainstream and institutional adoption of crypto assets. According to Buy Bitcoin Worldwide, 816,379 BTC worth $40.1 billion is currently held by 14 Bitcoin fund issuers and asset managers — representing 4% of the cryptocurrency’s supply. Industry leader, the Grayscale Bitcoin Trust, represents more than 3% of the Bitcoin supply, managing 654,600 BTC (worth $32 billion). CoinShares’ XBT Provider ranks second with 48,466 BTC ($2.4 billion) representing 0.23% of supply. The 12 remaining issuers represent 113,313 BTC or 0.54% of thesupply combined. The data provider also tracks 34 public companies that hold BTC on their balance sheets, which collectively command 1% of Bitcoin’s supply. Half of all Bitcoin held by public companies is in the possessi...
Post a Comment
Read more

Fox Corporation backs Eluvio's $100M raise as part of its content plan for NFTs

Fox Corporation is diving deeper into the NFT ecosystem with its latest partnership. U.S. mass media company Fox Corporation has made a strategic investment in digital content management firm Eluvio to help develop Fox’s nonfungible token business. An announcement on Aug. 25 reported that Fox Corporation's investment marks the completion of Eluvio's Series A funding round at a valuation of $100 million. Eluvio is a company dedicated to managing, distributing and monetizing premium content via blockchain. Under the new agreement, Eluvio will provide the technology for Fox Entertainment’s and Bento Box Entertainment's recently launched NFT business and creative unit according to the announcement . In mid-June, Fox partnered with Hollywood animation studio Bento Box to launch Blockchain Creative Labs, a $100 million creative division providing content creators, intellectual property owners, and advertising partners blockchain solutions to build, launch, manage, and sell ...
Post a Comment
Read more

Three Arrows Capital CEO Su Zhu outlines his bullish thesis for Dogecoin

Three Arrows Capital CEO Su Zhu is bullish on Dogecoin because it's easy to understand and captures the attention of “blue-collar traders.” Three Arrows Capital CEO Su Zhu has outlined a bullish thesis for Elon Musk’s favorite cryptocurrency, Dogecoin (DOGE). Speaking on an Aug. 25 episode of “The Game Theory of Crypto Podcast”, Zhu stated that he’s ke on DOGE because the meme coin has captured more interest from “blue-collar” traders than any other crypto on the market. During the interview, Zhu pointed towards data from popular retail trading app Robinhood, which posted its second-quarter report earlier this month and reported that 62% of the firm’s Q2 crypto revenue was from DOGE trading: “The best way to understand DOGE, I think, is that if you look at Robinhood, which is sort of the most blue-collar style of crypto investing, DOGE is 60% of their crypto revenue. And crypto is 40% of Robinhood’s revenue, so Robinhood is basically a DOGE proxy.” “This is something that I...
Post a Comment
Read more

DeFi TVL hits a record $157B as Ethereum competitors attract investors

Interoperability-focused projects that offer cross-chain bridges and lucrative liquidity mining pools are seeing an influx of funds right as DeFi’s TVL hit a new all-time high. Altcoins and DeFi tokens have been on a tear for the last two weeks   and as the end of August approaches many projects are seeing their tokens reach for new all-time highs. Data shows that a majority of the top-10 DeFi tokens gained more than 20% in the past 30-days, with projects like Bancor (BNT) and THORChain (RUNE) seeing gains in excess of 115%. Top-10 DeFi assets by price. Source: Messari Here’s a look at some of the factors behind the current boost to DeFi tokens and the projects that are leading the way in terms of protocol upgrades and cross-chain interoperability. Total value locked reaches a new all-time high Data from DeFi Llama shows that the total value locked (TVL) in all DeFi protocols reached a new all-time high at $157.06 billion on Aug. 22 and many analysts believe TVL is o...
Post a Comment
Read more

Ethereum traders expect volatility ahead of Friday’s $820M options expiry

Overly-confident Ethereum options traders are nervously watching the $3,200 level ahead of this week’s $800 million ETH options expiry. Ether ( ETH ) will face a critical $820 million monthly options expiry on Friday, Aug. 27. That will be the first time that $3,000 and higher options will have a real fighting chance, even though bulls seem to have missed a good opportunity to dominate the expiry because they were too optimistic about Ether’s price potential. It is unclear why $140 million of the neutral-to-bullish call options were placed between $3,800 and $8,000, but these instruments will likely become worthless as the monthly expiry approaches. Competition and the success of interoperability-focused protocols impact Ether price The Ethereum network has struggled due to its own success, which consistently leads to network congestion and transaction fees of up to $20 and higher. Furthermore, the rise of nonfungible tokens and decentralized finance imposed further stress on the...
Post a Comment
Read more

Cardano Foundation partners with Coinfirm for FATF and 6AMLD compliance

Coinfirm said it would be able to provide the same AML/CFT analytics for assets minted on Cardano, a number which may grow as the project prepares to expand to smart contracts. The nonprofit organization behind Cardano has partnered with blockchain analytics provider Coinfirm to ensure ADA is in compliance with the Financial Action Task Force’s guidelines. In an Aug. 24 announcement, the Cardano Foundation said it would be using Coinfirm’s services to provide Anti-Money Laundering, or AML, and Combating the Financing of Terrorism, or CFT, analytics for Cardano’s native cryptocurrency ADA . According to the foundation, the integration will allow the project to be “in full compliance” with the guidelines set forth by the Financial Action Task Force, the European Union’s Sixth Anti-Money Laundering Directive , or 6AMLD, and other regulations applicable to Cardano. “AML/CFT analytics is essential for a cryptocurrency to receive mass adoption within regulated markets,” said Cardano Fou...
Post a Comment
Read more

Price analysis 8/25: BTC, ETH, ADA, BNB, XRP, DOGE, DOT, SOL, UNI, BCH

Even with Wednesday's pullback, Bitcoin and most major altcoins are finding buyers on minor dips to underlying support levels, signaling that the trend remains bullish. Bitcoin ( BTC ) remains on a strong footing after bears failed to capitalize on the rejection near the psychological mark at $50,000.  The recent price rise in Bitcoin has not enticed longer-term investors to part with their holdings, and Glassnode data shows that the  Bitcoin supply held by long-term holders has hit a new all-time high of 12.69 million BTC. This tops the previous record achieved in October 2020. MicroStrategy’s recent Form 8-K filing with the United States Securities and Exchange Commission shows that the company bolstered its Bitcoin holdings by 3,907 BTC between July 1 and Aug. 23. The company bought at an average price of $45,294. This brings MicroStrategy's total holdings to 108,992 BTC, with an average price of $26,769. Daily cryptocurrency market performance. Source: Coin360 H...
Post a Comment
Read more

VORTECS™ Spotlight: This indicator flashed bullish prior to Voyager’s (VGX) 200% rally

Every trader is a genius during a bull market, but how does one know when a rally is fading and when it’s primed for continuation? VGX is the native token of Voyager, a cryptocurrency broker, and the asset is designed to generate staking rewards for its holders as well as boost their yield earnings on other digital assets.  Over the last 30 days, the asset delivered even more value as it has more than doubled its price against the United States dollar and gained 46% over the resurging Bitcoin ( BTC ). What caused the coin’s price to soar, and was there a way to anticipate its rally early on? Breaking news, familiar market patterns VGX’s August price surge was an expected byproduct of bullish news coming out of the Voyager ecosystem throughout August. On Aug. 2, Voyager Digital announced the purchase of payments firm Coinify, a move aimed at expanding the platform’s infrastructure for cross-border transactions. At the time, VGX had been trading at around $2.30. Simultaneousl...
Post a Comment
Read more

SingularityDAO appoints Chris Poulin as CTO and head of AI

The merger between artificial intelligence and decentralized finance is growing. SingularityDAO focuses on creating AI-driven investment portfolios. DeFi portfolio manager SingularityDAO has appointed research scientist Chris Poulin as new chief technology officer and head of artificial intelligence, underscoring the company’s ambitions for AI-driven investment solutions.  In his new role, Poulin will be tasked with developing SingularityDAO’s DynaSets, an AI-powered system for building a curated basket of crypto investments. DynaSets hold a collection of DeFi tokens in one contract, allowing investors to more easily manage their portfolios. The job description also entails developing new AI-driven products for the DeFi sector. Prior to joining SingularityDAO, the MIT-trained Poulin served for 13 years as managing partner for Patterns and Predictions, a Boston-based predictive analytics company. He also served as senior director for machine learning and data science at Microsof...
Post a Comment
Read more

Bollinger Bands creator warns Bitcoin bulls as BTC price struggles below $50K

“Watch carefully, maybe take some profits or hedge a bit,” advises John Bollinger. Bitcoin ( BTC ) prices have recovered by more than 60% to $47,486 after bottoming out below $30,000 on July 20, triggering anticipations of an extended bull market toward $100,000. But to John Bollinger, a celebrated contributor to the field of financial analysis, investors should refrain from buying the benchmark cryptocurrency at current prices. Bollinger advised in his Tuesday  tweet that investors could secure their Bitcoin profits or build a hedge position elsewhere to offset potential BTC/USD decline risks. Explaining his cautious outlook, Bollinger noted that “aggressive traders can think about putting out some shorts,” which, in turn, could push the Bitcoin prices lower in the coming sessions. “Hodlers can look [to] add at lower levels if we see them. No confirmation yet, just be on the alert.” Could Bitcoin hit $41,000? The statements appeared as Bitcoin underwent a correction a...
Post a Comment
Read more

Facebook ‘definitely looking’ at NFTs, says exec

“When you have a good crypto wallet like Novi will be, you also have to think about how to help consumers support NFTs,” Facebook's David Marcus said. As Facebook now finalizes the development of its proprietary cryptocurrency wallet Novi, the social media giant could soon be supporting nonfungible tokens (NFTs). David Marcus, head of Facebook Financial and co-creator of Facebook-initiated cryptocurrency Diem, said Wednesday that the firm is “definitely looking” at possible ways to get involved in the NFT industry. Facebook is considering multiple options to introduce NFT features as they find themselves in a “really good position to do so,” Marcus said in a Bloomberg Television interview. “When you have a good crypto wallet like Novi will be, you also have to think about how to help consumers support NFTs,” he added. Marcus said that the Novi crypto wallet is now “ready to launch” after a couple of years of development, but Facebook has decided to put its launch on hold unti...
Post a Comment
Read more

NFT innovator HODL Assets acquires blockchain social commerce firm CoinLinked

HODL Assets willl upscale its presence in the nonfungible token space and is also looking to move its operations from Durban, South Africa to the United States. HODL Assets, a nonfungible token (NFT) aggregator platform, has announced the acquisition of blockchain-based social network and commerce platform CoinLinked. According to a release issued on Wednesday, Wall Street veteran and CoinLinked founder Jenny Ta will also join the HODL Assets team as chief operating officer. The CoinLinked acquisition is part of a broader plan by HODL Assets to upscale its presence in the nonfungible token space with the launch of its NFT marketplace dubbed HODL platform. HODL’s new NFT platform will reportedly offer gaming and social networking features to the expanding NFT space. The CoinLinked acquisition likely ties into these plans with Ta previously telling Cointelegraph that the blockchain social network platform was an “ amalgamation of Twitter, Instagram, and Amazon. ” Speaking to Cointe...
Post a Comment
Read more

CoinDCX exchange joins ad regulator following Delhi high court notice

Mumbai-based crypto unicorn, CoinDCX, has become a member of the Advertising Standards Council of India, a non-governmental self-regulatory organization. Mumbai-based crypto exchange CoinDCX has reportedly joined the Advertising Standards Council of India (ASCI). In what seems like a response to Delhi Hight Court’s notice regarding ad disclaimers from crypto exchanges , CoinDCX intends to use this partnership to improve advertising transparency and stay off the radar of the Indian regulators. ASCI is a non-governmental self-regulatory organization that claims to favor consumer interests and protection. On Aug.10, CoinDCX became the first crypto business in India to reach unicorn status . Citing the partnership with ASCI, CoinDCX CEO and co-founder Sumit Gupta envisions that the move “will boost confidence” among Indian investors: “We have always gone the extra mile to ensure we are fully compliant with the laws and imbue credibility and trust in our service and products.” ASCI ...
Post a Comment
Read more

Bitcoin loses $48K as analysts eye next zones for a potential BTC price bounce

It could take $44,000 or $40,600 before Bitcoin bulls take back control in what is nevertheless a welcome correction for BTC/USD. Bitcoin ( BTC ) headed down to test new support on Aug. 25 after a breakdown of bullish trajectory sparked predictions of $44,000. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Old resistance provides backdrop for BTC price rethink Data from Cointelegraph Markets Pro and TradingView  showed BTC/USD losing around 2% overnight Wednesday. A rejection after an attempt to reclaim $51,000 — the top of a key long-term resistance zone —  saw Bitcoin pause for thought, beginning what analysts had already said would be a well-earned correction. For Cointelegraph contributor Michaël van de Poppe, $44,000 could be a useful floor should the downside continue. "At this stage, $51,000 is a critical resistance zone; the area to watch for potential support can be found around $42,500-$44,000," he summarized . "That is the level that ...
Post a Comment
Read more

El Salvador's Bitcoin adoption may transform remittance in Central America

Reduced remittance costs could prove significant in justifying El Salvador’s adoption of Bitcoin as legal tender. The Central American Bank for Economic Integration (CABEI) has identified remittance as an important aspect of El Salvador’s Bitcoin ( BTC) adoption policy. According to Reuters on Tuesday, the regional development bank expects other Central American nations to pay close attention to Bitcoin’s impact on remittance costs in El Salvador. Speaking to Reuters, Dante Mossi, CABEI’s executive president stated that neighboring countries will be incentivized to follow El Salvador’s example if Bitcoin offers significant cost reduction in the remittance market. The CABEI executive described El Salvador’s Bitcoin adoption policy as an “out of this world experiment” that could foster greater financial inclusion in the country. Thus, the regional bank is helping El Salvador to create a technical framework for Bitcoin adoption. According to Carlos Sanchez, investment chief at CAB...
Post a Comment
Read more

Korean FSC chair nominee doesn't think crypto is a financial asset

Seung-beom Koh said that fintech experts across the globe “find it difficult to see virtual currencies as a financial asset." Seung-beom Koh, a nominee for chairman of South Korea’s Financial Service Commission (FSC), does not regard cryptocurrencies as a financial asset.  In a press meeting with local journalists, Seung-beom said that fintech experts from prominent organizations such as the G20, the International Monetary Fund and others “find it difficult to see virtual currencies as a financial asset, and think they could not function as a currency.” Seung-beom's comments coincide with the ongoing surge in crypto trading among young investors, who primarily invest seeking short-term profits, according to The Korean Times. Investors also see cryptocurrencies as a fair chance to buy homes by countering skyrocketing property prices. Koh also pointed out that excessive household credit could negatively impact South Korea’s economy. As of March 2021, the country’s househol...
Post a Comment
Read more

SEC could approve Bitcoin futures ETF in October, analysts predict

“A launch could come as soon as October, and we believe the SEC should permit several at once to avoid handing out a first-mover advantage,” Bloomberg ETF analysts said. The United States Securities and Exchange Commission (SEC) is likely to approve a Bitcoin ( BTC ) futures exchange-traded product (ETF) by the end of October, according to Bloomberg ETF experts. Bloomberg ETF analysts, Eric Balchunas and James Seyffart, issued  an investor note on Tuesday suggesting that last week’s abrupt withdrawals of Ether ( ETH ) futures ETF proposals by VanEck and ProShares could trigger SEC approval of a Bitcoin ETF.  “VanEck and ProShares’ rapid withdrawal of proposals for Ethereum futures ETFs is a good sign for a potential Bitcoin futures ETF, given the SEC has allowed those filing to remain active. A launch could come as soon as October, and we believe the SEC should permit several at once to avoid handing out a first-mover advantage,” the analysts said. Balchunas noted that Pr...
Post a Comment
Read more

KuCoin encourages greener crypto mining with proof-of-work pool

According to CEO Johnny Lyu, people using renewable energy sources for mining will receive discounts on fees. Singapore-based crypto exchange KuCoin is launching a mining pool aimed at providing revenue to proof-of-work miners after integrating their rigs. In a Wednesday announcement, the exchange said its KuCoin Pool product would allow miners around the world to contribute to the Bitcoin ( BTC ) and Bitcoin Cash ( BCH ) and share rewards. At the moment, miners are required to install and run the necessary hardware themselves to join the pool, but KuCoin said it would introduce mining in the cloud in the future. KuCoin CEO Johnny Lyu also claimed the pool would be encouraging miners to participate in environmentally-friendly solutions — people using renewable energy sources for mining will receive discounts on fees. The move is seemingly part of a shift in many mining firms beginning to transition to cleaner or renewable energy. “For existing KuCoin users, it will become straigh...
Post a Comment
Read more

Thai SEC proposes new rules for digital asset custodians

The Thai SEC is seeking public input for newly proposed crypto custody regulations until late September. The Securities and Exchange Commission (SEC) of Thailand continues introducing new regulations for the cryptocurrency industry, citing investor protection concerns. On Wednesday, the Thai SEC  proposed a set of additional regulations related to custody of investors' cryptocurrency holdings held by digital asset business operators. The newly proposed rules refer to custody of fiat money for digital asset accounts as well as cryptocurrency lending, or earning interest on crypto holdings. The SEC is specifically looking to prohibit crypto companies from using investor assets for the “benefit of another client or other persons,” or seeking benefits from both investors’ fiat money and digital assets, including digital lending to other persons. “Seeking benefits from clients’ fiat money shall be prohibited except in the form of deposit with commercial banks,” the proposal reads. ...
Post a Comment
Read more