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Showing posts from August 30, 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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Three Arrows Capital execs launch NFT fund

The new fund, Starry Night Capital, plans to exclusively invest in “the most desired” NFTs on the market. Executives hailing from Singapore-based fund manager, Three Arrows Capital (3AC), have launched a fund focused on collecting premium digital art in the form of nonfungible tokens (NFTs). The fund, dubbed Starry Night Capital, was founded by Three Arrows Capital’s CEO, Su Zhu , 3AC co-founder, Kyle Davies, and the pseudonymous NFT collector, Vincent Van Dough. Van Dough announced the fund via an Aug. 31 tweet, stating : “Our thesis is simple, we believe the best way to gain exposure to the cultural paradigm shift being ushered in by NFTs is owning the top pieces from the most desired sets.” Zhu shared the tweet, adding : “Excited to make history together.” 3AC is a digital asset-focussed fund manager that was founded in 2012. The firm has made investments in leading layer-one blockchains including Ethereum, Avalanche, and Polkadot, in addition to building an expansive DeFi por...
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SBF promotes efficiency of ‘misunderstood’ crypto derivatives

FTX CEO Sam Bankman-Fried says derivatives are necessary to bolster the liquidity and efficiency of markets. The chief executive of crypto derivatives exchange FTX, Sam Bankman-Fried (SBF), has argued that derivatives are vital for the efficiency of the digital asset markets. In an interview with Forbes published Aug. 30, the crypto billionaire claimed that crypto derivatives are “misunderstood,” asserting that critics fail to recognise the vital role derivatives play in bolstering the liquidity and efficiency of markets. Derivatives refer to financial contracts that derive their value from an underlying asset or benchmark. Crypto derivatives in the form of futures, options, and perpetual swaps have attracted significant popularity in recent years. SBF described derivatives as “misunderstood,” adding: “People will note that derivatives trade more volume in crypto than spot, which is true. But that is true of every asset class in the world.” In addition to promoting the efficien...
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Marvel to Drop Captain America NFT Statues, Fully-Readable Amazing Spider-Man #1 NFTs

81 years ago on August 31, 1939, the company Marvel Comics was introduced to the world for the first time and people were presented with a whole universe of superheroes. In celebration of Marvel’s birthday and the firm’s collaboration with Veve Digital Collectibles, “Marvel Month” will conclude with special edition Captain America non-fungible token (NFT) collectibles. A Lineup of Captain America Statue NFTs At the end of June, the wholly-owned subsidiary of The Walt Disney Company, Marvel Entertainment, announced the company was dipping its toes into the world of non-fungible tokens (NFTs). During the first week of August, Marvel revealed “Marvel Month” and launched Spider-Man NFTs. The collectible sets included the “Common – Spider-Man,” “Uncommon – Spider-Man,” “Rare – Spider-Man,” “Ultra-Rare – Spider-Man,” and the “Secret-Rare – Spider-Man.” Marvel’s comic book competitor DC Comics has also dropped a lineup of NFTs via the Veve Digital Collectibles application. The conc...
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Institutions remain bullish on Cardano and Ether while BTC outflows persist

Ethereum and Cardano continue to dominate inflows to institutional crypto investment products while demand for BTC weakens. Institutional inflows to altcoin investment products have continued to increase this past week, but the same cannot be said for Bitcoin. In its Digital Asset Fund Flows Weekly report on Aug. 30, institutional asset manager CoinShares identified overall inflows of $24 million to altcoin-based investment products. The capital flows mark the second consecutive week of inflows to altcoin funds, with investments into altcoin products increasing by 14.3% compared to last week’s $21 million. Ether was the favored asset among institutional investors, with ETH-based products posting a weekly inflow of $17.2 million. The report noted that products tracking Ethereum and other altcoins now represent 32% of the sector’s total assets under management (AUM) — just 3% shy of mid-May’s record of 35%. Cardano-based institutional funds posted record weekly inflows with $10.1 ...
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Users panic after Coinbase mistakenly sends 2FA reset notices to customers

Coinbase sent an email to 125,000 users mistakenly notifying them their two-factor authentication settings had been changed. Customers of leading U.S. crypto exchange Coinbase have spent the weekend panicking after the exchange mistakenly sent emails to users stating their two-factor authentication (2FA) settings had been changed. On Aug. 27, Coinbase accidentally sent the email to 125,000 of its customers, resulting in widespread public backlash. Coinbase took to Twitter on Aug. 29 to apologize for the mishap, stating: “We’re laser-focused on building trust and security into the crypto community so that the open financial system we all want is a reality. We recognize that issues like this can hurt that trust.” I got the reply and panicked someone accessed my account or made withdrawals. Immediately logged in and reset my password after verifying nothing happened. — AJ ‍⚾️l‍ (@AgedMcNugget) August 29, 2021 Despite Coinbase’s apology, many of its users reported taking signific...
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Venture Capitalist Bill Gurley Prefers Ethereum to Bitcoin, Takes Personal Position in ETH

Venture capitalist Bill Gurley has taken a personal position in ether because he “was swayed by the arguments of the ethereum crowd.” He explained that it is “the smarter way to play if you’re going to have crypto exposure.” Bill Gurley Prefers Ethereum to Bitcoin Bill Gurley, a general partner at Benchmark, a Silicon Valley venture capital firm in San Francisco, California, shared his view on cryptocurrency in an interview with Bloomberg last week. He began by admitting that he is late getting into crypto because he was focusing on direct listings and did not spend much time on the subject until April this year when he dedicated quite a bit of time to reading about cryptocurrencies. Gurley shared: I have to say I was swayed by the arguments of the ethereum crowd. And so, I’ve taken a personal position. Without specifying how much he invested in ETH , the venture capitalist emphasized that the investment was personal and not for his firm. “I’m swayed by the ethereum cro...
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23yo Venezuelan allegedly steals $1m in BTC from clients after faked abduction

The 23-year-old is wanted by the police after allegedly faking his own kidnapping and stealing his clients' funds. Venezuelan authorities are on the lookout for a scammer accused of disappearing with 23.66 Bitcoin (BTC) worth $1.15 million from his clients’ accounts after faking his own kidnapping. On Aug. 29th, Douglas Rico, director of Venezuela’s Scientific, Criminal and Criminal Investigations Corps (CICPC) issued a statement asserting that 23-year-old, Andrés Jesús Dos Santos Hernández, was wanted by the country’s largest national police agency over charges of suspected money laundering and fraud. Authorities assert that Hernadnez likely staged the abduction, with his clients’ Binance accounts having been emptied since the Venezuelan’s supposed disappearance. According to Rico, the police believe Hernandez "simulat[ed] a kidnapping where his captors allegedly forced him to enter the Binance platform and make transfers to different digital wallets, depleting all the ...
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Billionaire John Paulson Warns Cryptocurrencies Will Be Worthless, Bitcoin Too Volatile to Short

Billionaire hedge fund manager John Paulson, famed for making a fortune betting against the U.S. housing market, says that cryptocurrencies are a bubble that will prove to be “worthless.” While he sees unlimited downside to crypto, he will not short bitcoin, however. “Even though I could be right over the long term, in the short term, I’d be wiped out,” he explained. Famous Investor John Paulson Predicts Crypto Will Be Worthless John Paulson, the president and portfolio manager of U.S. investment firm Paulson & Co., is an American billionaire hedge fund manager who became world-famous in 2007 by shorting the U.S. housing market. He foresaw the subprime mortgage crisis and bet against mortgage-backed securities by investing in credit default swaps. Paulson shared his views on cryptocurrency and bitcoin on Bloomberg TV Monday in an interview with Carlyle Group founder David Rubenstein. Responding to the question of whether he is a believer in cryptocurrency, Paulson affirmed: “N...
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Blockchain.com CFO Says Company Could IPO in ’18-Months,’ Firm’s Balance Sheet Holds BTC, ETH

This week Blockchain.com CFO Macrina Kgil discussed how the company has surpassed $1 trillion in cryptocurrency transactions and the company may go public with an initial public offering (IPO) in 2023. The cryptocurrency firm is one of the oldest in the industry and Kgil explained that 76 million Blockchain.com wallets have been created since the company’s inception. $1 Trillion in Crypto Transactions Processed, 76 Million Wallets Created In March 2021, Bitcoin.com News reported on Blockchain.com raising $300 million and receiving a post-money valuation of around $5.2 billion. The company has been around for quite some time and when it was called “Blockchain.info” it was established by Ben Reeves way back in 2011. In 2013 it was led by Nicolas Cary and was considered the most popular bitcoin wallet at the time. In 2014, Blockchain.com was led by Peter Smith and he’s remained the company’s CEO ever since. Macrina Kgil, Blockchain.com’s chief financial officer, detailed this week ...
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Here's how Bitcoin options traders might prepare for a BTC ETF approval

Bloomberg analysts expect a BTC ETF approval in the next few months, and clever options traders might use this strategy to profit from the possibility. Very few events can shake the cryptocurrency markets in a sustainable manner that really sends Bitcoin and altcoin prices into a sharp directional move. One example is when Xi Jinping, China's President, called for the development of blockchain technology throughout the country in October 2019.  The unexpected news caused a 42% pump in Bitcoin ( BTC ), but the movement completely faded away as investors realized China was not altering its negative stance on cryptocurrencies . As a result, only a handful of tokens focused on China's FinTech industry, blockchain tracing, and industry automation saw their prices consolidate at higher levels. Some 'crypto news' and regulatory development have a lasting impact on investors' perceptions and willingness to interact with the crypto market. Not every one of these is posi...
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Kava Swap Lists on AscendEX

PRESS RELEASE. AscendEX , a global digital asset trading platform with a comprehensive product suite , is thrilled to announce the listing of the Kava Swap token (SWP) under the pair USDT/SWP on Aug 31 at 1 p.m. UTC. In celebration of the SWP listing, AscendEX will work with the team at Kava Swap to launch two limited-time promotional events, taking place from Aug. 31, 1:00 a.m. UTC to Sept. 7, 12:00 a.m. UTC. By completing tasks and executing trades, users will be given the chance to share pooled rewards worth up to 90,000 USDT ! Kava is focused on democratizing financial services and making them openly accessible to anyone, anywhere in the world. Kava Chain is a decentralized, permissionless, censorship-resistant blockchain built with the Cosmos SDK. This means it operates much like other Cosmos ecosystem blockchains, and is designed to be interoperable with other chains. Kava.io is the first cross-chain Decentralized Finance (DeFi) hub providing applications and services to t...
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Fantom price gains 100% after launching a 370M FTM incentive program

FTM gained 500% in the past 6 weeks and a newly launched $320 million incentive program could see the rally extend further. The Ethereum ( ETH ) network continues to enjoy the status of being the top smart contract platform in the blockchain industry, but the competition is slowly gaining market share because high costs and network congestion are still challenges for the protocol.  One project that has been gaining traction in the month of August is Fantom (FTM), a layer-one smart contract platform that utilizes a directed acyclic graph architecture as a means to solving the problems of slow transaction speeds and high transaction fees. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.15 on July 20, the price of FTM has rocketed 500% to an intraday high at $0.90 on Aug. 30 as its 24-hour trading volume exploded by 1,250% to a record $1.26 billion. FTM/USDT 4-hour chart. Source: TradingView Three reasons for the surging momentum in ...
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The Largest Art Museum in the World Partners With Binance to Auction Leonardo Da Vinci, Claude Monet NFTs

The Binance NFT Marketplace announced today that the non-fungible token (NFT) platform will launch a premium NFT collection backed by the State Hermitage Museum in Saint Petersburg, Russia. The NFT auction will begin on August 31 and run until September 7, 2021. The NFT auction will feature NFT artwork by the world-renowned artists’ Vincent Van Gogh, Claude Monet, and Leonardo da Vinci. State Hermitage Museum and Binance Collaborate to Sell World-Renowned Art in NFT Form It seems that 2021 is the year of non-fungible token (NFT) collections, as NFT collectibles and artworks have sold for millions of dollars. So far, Beeple’s “Everydays: The First 5000 Days” NFT is the most expensive as the NFT ever sold, as it was purchased for $69.3 million. Another high-profile NFT sale is Cryptopunk #7523, which was acquired for $11.8 million in ethereum (ETH) . Bitcoin.com News has been covering a myriad of NFT projects making millions like Bored Ape Yacht Club (BAYC) and the Weird Whales NFT ...
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New Blockchain Lab aims to modernize the mortgage industry

Business consulting firm Zventus announce a blockchain lab designed to revolutionize the mortgage sector. Global business provider Zventus announced a new blockchain initiative on Monday titled ‘Mortgage Blockchain Lab’. The proposal i meant to collate the resources of several mortgage experts, technology firms and academic institutions to collaborate on blockchain research and development focused on the mortgage sector.  The California-based firm, whose product and service offering spans a broad business spectrum including business consultancy, human resource strategy and tech support, will work with the lab's partners in this blockchain sandbox to trial and test new products and services. Early reports from the firm suggest the potential to reduce costs of loans for financial organizations exceeds 50% once the services are launched. Zventus President Angel Alban believes in the vast potential of blockchain to support the sectors development: “There's no doubt in blockch...
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Price analysis 8/30: BTC, ETH, ADA, BNB, XRP, DOGE, SOL, DOT, UNI, LUNA

Bitcoin and select major altcoins are still facing selling at overhead resistance levels, indicating that the next leg of the uptrend may have to wait. There is an old proverb which says that history does not always repeat, but it tends to rhyme. If that holds true for Bitcoin ( BTC ), then a strong up-move may not happen in the month of September.  Bybit data shows that since 2013, Bitcoin has closed September in the red for six years and has managed a positive monthly close only on two occasions. The best performance was in 2016 when Bitcoin rose 6.04%. Daily cryptocurrency market performance. Source: Coin360 However, September’s poor historical performance has not stopped  small and large traders from accumulating Bitcoin in August. Ecoinometrics reported rising account balances for addresses holding 1,000 to 10,000 BTC and for accounts that hold less than one Bitcoin. Will September’s poor historical record scare away the bulls or will this year be an exception?...
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US Global Investors bought crypto exposure through Grayscale funds

The investment firm already has significant exposure to gold, minerals, precious metals, petroleum, and other natural resources. Texas-based investment manager U.S. Global Investors, which reported $4.6 billion in assets under management as of Q1 2021, has bought exposure to Bitcoin. According to Aug. 30 filings from the U.S. Securities and Exchange Commission, U.S. Global Investors added more than $566,389 worth of shares of Grayscale Bitcoin ( BTC ) Trust, or GBTC, to three of its eight mutual funds as of June 30. The filings show the company invested $302,899 GBTC in its Gold and Precious Metals Fund, $222,532 in its World Precious Minerals Fund, and $40,958 in its Global Resources Fund. The Bitcoin exposure represents up to 0.19% of the net assets in the funds given the Gold and Precious Metals Fund alone has roughly $158 million in assets under management. However, it is a seemingly surprising investment from a firm that has significant exposure to gold, minerals, precious me...
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Ethereum Burns $432 Million ETH — Ether Burned Could Buy 2,000 Medium-Sized Homes

Approximately 25 days ago, the Ethereum blockchain implemented the London hard fork and a number of features were added to the ruleset. One of the most anticipated changes was EIP-1559 which makes the crypto asset ether deflationary by burning a fraction of coins. Since August 5, over $432 million worth of ether has been burned, and at the time of writing, 136,606 ether has been burned. Over $432 Million in Ethereum Burned The Ethereum ( ETH ) blockchain is the second most valuable crypto market in terms of market valuation. Out of the $2.14 trillion market capitalization of all the coins in the crypto economy, ethereum’s overall market valuation is $374 billion or 17.5% of the entire crypto economy. 25 days ago, ETH saw a successful London upgrade and ether has gained 29.7% this month. However, the Ethereum chain had a hiccup this past week when the chain split and ether gas fees doubled in value week-over-week. The EIP-1559 feature makes it so the network follows a differe...
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Bitcoin whales join 'small fish' in buying BTC as price holds above $47K

Bitcoin addresses holding 1,000 to 10,000 BTC have resumed accumulating coins. Rich crypto investors are turning their attention back to Bitcoin ( BTC ) as its price continues to eye a breakout move above $50,000 . Crypto-focused newsletter Ecoinometrics reported positive changes in Bitcoin holdings for addresses controlling 1,000-10,000 BTC. So, based on their rising account balances throughout August, Ecoinometrics spotted a renewed accumulation sentiment among "whales," hinting that wealthy investors consider the current Bitcoin price levels as attractive to place bullish bets. Bitcoin accumulation trend versus price levels. Source: Ecoinometrics The sentiment appeared the same among small fishes—Bitcoin investors that hold less than 1 BTC. Ecoinometrics reported that they have been accumulating Bitcoin since June and, during a period, have also absorbed the selling pressure coming from the whales' side . Their buying sentiment coincided with a price rally to $...
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