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Showing posts from September 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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JPMorgan sounds alarm over ‘frothy’ crypto markets after August boom

Altcoins have made big gains on the total market share of the cryptocurrency markets, but JPMorgan analysts have concerns. JPMorgan analysts have warned clients that cryptocurrency markets are looking frothy after the August trading boom saw spot market trading volumes once again top $1 trillion.  In a note to clients reported by Markets Insider , the JPMorgan analysts suggested valuations in crypto markets, especially altcoins and NFTs, are getting too high. “The share of altcoins looks rather elevated by historical standards and in our opinion it is more likely to be a reflection of froth and retail investor 'mania' rather than a reflection of a structural uptrend." The bank’s analysts noted that altcoin trading now accounts for about 33% of the total cryptocurrency market, up from just 22% at the beginning of August. Although many crypto traders are delighted at the price increases, the analysts believe the apparent uptick in interest may not be substantial enough...
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Earn by Holding USDCoin in V2 of the BlockBank Application

BlockBank will be enabling its users to earn interest on the stablecoin USD Coin (USDC), with rates up to 60x the US national average of a traditional savings account. Best of all, your USDC is guaranteed by BlockBank, giving you complete certainty whilst you earn interest. With the BlockBank application V2 update arriving in Q3 this year, you will be able to view your live portfolio and receive monthly payouts, all with no deposit and withdrawal fees or limits. Generating a passive income by obtaining the best interest rate is on everyone’s mind nowadays. In fact over the years, interest rates in traditional banking have decreased close to zero, making it hard for you to earn a passive income on your assets. The US national average for a traditional savings account hovers around 0.07% per year, with high-yield savings accounts at around 1%, still nothing to rave about. BlockBank’s high-yield alternative to traditional savings accounts offers competitive APY on your USDC, a stable...
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Doge meme hits $220M valuation, as Sotheby's Bored Apes auction is tipped to fetch $18M

After a successful fractionalization into $DOG Tokens, the total implied value of the Original Doge meme NFT has gone through the roof. The original Doge meme NFT has soared to a valuation of around $220 million following its successful fractionalized token sale this week. Ludicrously high prices for in demand NFTs are the flavor of the week, with Sotheby’s new Bored Ape Yacht Club NFT auction predicted to fetch up to $18 million. Earlier this week Doge meme owners PleasrDAO fractionalized the NFT into 17 billion ERC-20 tokens named $DOG, and auctioned off 20% of them on SushiSwap-owned Miso on Sept. 1. The $DOG tokens snapped up in the auction can now be traded via decentralized exchanges such as SushiSwap and Uniswap. The auction generated 11,942 Wrapped Ethereum (WETH) worth around $44.6 million from a total of 1,769 buyers. GET YO STICKS READY! $DOG trading is now live on @SushiSwap . Ape, hooman, cat, all is welcome on the chef's table. Trade here: https://t.co/fv...
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Judge orders Ripple to hand over 1 million Slack messages to the SEC

Ripple is now required to produce terabytes of Slack messages to the SEC which were previously withheld due to an apparent data error. U.S. Magistrate Judge Sarah Netburn has ordered Ripple to produce one million missing Slack messages between employees which the Securities and Exchange Commission (SEC) has sought to access.  Despite Ripple’s protestations that complying would cost up to $1 million, the judge deemed the messages critical and unique evidence for the SEC’s ongoing case against the multi-billion dollar company for selling unregistered securities . The SEC filed suit against Ripple Labs and its initial and current CEOs, Christian Larsen and Bradley Garlinghouse for selling XRP as an unregistered security in December 20. According to Law360 , in the original motion to compel Ripple from August 9, the SEC argued that the messages between Ripple employees were “relevant to the parties’ claims and defenses and proportional to the needs of the case.” It also said that...
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Crypto Exchange Binance Plans US IPO in 3 Years, CEO Says

Cryptocurrency exchange Binance’s U.S. arm could be going public in three years, Binance CEO Changpeng Zhao has revealed. He said that his exchange “is just going to do what Coinbase did.” Coinbase Global went public on Nasdaq via direct listing. Binance Plans to IPO in the US Within 3 Years Binance’s founder and CEO, Changpeng Zhao, said in an interview with The Information Wednesday that his company’s U.S. arm could have an initial public offering (IPO) in the next three years. He described: Binance.us is just going to do what Coinbase did. Cryptocurrency exchange Coinbase went public on Nasdaq in April via a direct listing. The exchange recently said that it wants to be the “ Amazon ” of crypto and list all legal cryptocurrencies. Binance.us is also set to close on a large private fundraising round in the next two months, Zhao told the publication, adding that his company generated $800 million to $1 billion in profit last year. Binance has recently been heavily sc...
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New research claims 21 accounts pumped the $4.4B EOS ICO with wash trades

New research asserts that EOS and ETH were wash-traded on exchanges to manipulate prices during EOS’s multi-billion dollar ICO. New research has shed more light on the crypto industry’s largest-ever token sale, alleging that foul play may have been afoot during EOS’s initial coin offering (ICO) four years ago. Researchers from the University of Texas have raised fresh concerns regarding Block.one’s record $4.362 billion ICO for the EOS blockchain in 2017 and 2018. The highly-anticipated project was backed by industry heavyweights including PayPal co-founder Peter Thiel alongside billionaire hedge fund managers Alan Howard and Louis Bacon. The research does not accuse Block.one itself of any wrongdoing and the company has cited a report stating there was no evidence it was involved. On Aug. 31, Professor John Griffin of the Austin McCombs School of Business and financial analysis firm Integra FEC published their findings in a paper titled “ Were ETH and EOS Repeatedly Recycled dur...
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70% of Salvadorans opposed to Bitcoin Law as Sep. 7 implementation draws near

The majority of El Salvadorans are skeptical of the country’s impending Bitcoin Law, with 90% of locals describing their understanding of crypto as poor or non-existent. With less than a week to go before El Salvador's Bitcoin Law takes effect on Sept. 7, a majority of citizens surveyed are opposed to government-mandated cryptocurrency adoption . A survey conducted by the local Central American University’s (UCA) Institute of Public Opinion has found that 70% of Salvadorans believe President Nayib Bukele’s Bitcoin Law, recognizing the cryptocurrency as legal tender, should be repealed. However more than 90% of those surveyed also admitted they have a poor understanding of cryptocurrency. The institute recorded a dire public approval rating of just 7.64% for the president — the lowest registered during Bukele’s term so far. El Salvador’s struggling economy Attitudes to the Bitcoin Law appear intertwined with worries over the country’s poor economic performance. The poll fou...
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17% of Australians now own crypto, totaling $8B between them: Survey

Bitcoin remains the most popular cryptocurrency in Australia, with 9% of Aussies currently hodling it. One in six Australians now own cryptocurrency, with the total value of their holdings adding up to $8 billion, according to a recent survey .  The full report of the Finder Consumer Sentiment Tracker was posted online on September 2. It is a monthly ongoing survey of 1000 nationally representative Australians conducted by Qualtrics. The most popular cryptocurrency in the country remains Bitcoin, with 9% of Australians currently hodling it. Around 8% of Aussies indicated that they own Ethereum, 5% own Dogecoin, while Bitcoin Cash is held by 4% of the population, according to the survey. Researchers said they were surprised to find that 35% of respondents believe that Bitcoin will eventually be transacted more widely than traditional currency — meaning that one in three Australians believe Bitcoin will take over from fiat currency by 2050. The proportion of Bitcoin trubelieve...
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Candidate for Mayor Promises to Make NYC the Most Cryptocurrency-Friendly City in US

Curtis Sliwa, a candidate for New York City (NYC) mayor, said that he will make his city “the most cryptocurrency-friendly city” in the U.S. if he is elected. He joins a growing list of mayors and mayoral candidates in growing cryptocurrency adoption. Mayoral Candidate Plans to Turn NYC Into the Most Crypto-Friendly City NYC mayoral candidate Curtis Sliwa has shared his vision to make New York City the most cryptocurrency-friendly place in the U.S. Sliwa, a radio talk show host, is the founder and chief executive officer of the Guardian Angels, a nonprofit organization of unarmed crime prevention. He tweeted Wednesday: “As NYC Mayor, I will make NYC the most cryptocurrency-friendly city in the nation. Property taxes, fines & fees will be payable in crypto. We will open more crypto ATMs & incentivize businesses to accept crypto. We must modernize our economy & make it accessible for all!” Sliwa is not the only mayoral candidate for NYC who wants to see the city becomin...
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Cardano’s Charles Hoskinson Expects Cryptocurrencies to Play Larger Role in Afghanistan

The founder of Cardano and co-founder of Ethereum, Charles Hoskinson, says that he expects cryptocurrencies to “play a larger role” in Afghanistan amid war with the Taliban forces. Charles Hoskinson Sees Cryptocurrencies Playing Larger Role in Afghanistan Charles Hoskinson, the founder of Cardano and co-founder of Ethereum, explained in an interview with CNBC Tuesday that cryptocurrencies are likely to play a larger role in Afghanistan, citing a rising need for more privacy. The Cardano founder believes that there will be ongoing civil war in the country and “already the remnants of the northern alliance have been formed, and they’re going to need resources.” He noted that “Unlike the last time, in the 90’s when this happened, now cryptocurrencies are there,” elaborating: It is my belief that cryptocurrencies are going to play a larger role in Afghanistan this time around, in the war for and against the Taliban forces. The Pentagon said Monday that the U.S. finished its withdra...
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Shanghai Man: Billionaire buys CryptoPunks, Arbitrum finds traction, markets ignore warnings

This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industrys most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations. There are a lot of narratives to keep an eye on as China enjoyed a relatively quiet week on the regulatory front and markets rebounded. Layer-two networks continued to make headlines with their large war chests of funds to invest. Avalanche and Arbitrum are two networks that have growing awareness in China. Both were in the news this week with Avalanches $180 million fund being announced and Arbitrums launch on September 1 . MCDex, one of the more active DeFi applications in China, took an early first step by launching its mainnet on Arbitrums layer-two. MCDex launched on-chain BTC/USDC and ETH/USDC perpetual swaps, one of the first projects to take advantage of Arbitrums speed and scalability. MCDex and a few other Chinese DeFi projects have been bett...
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Twitter to allow users to add BTC and ETH addresses to profiles: Screenshots

While the news is unofficial at this stage, Twitter’s product lead Kayvon Beykpour hinted that there could be an announcement soon. Twitter appears to be developing functionality that enables users to add Bitcoin and Ethereum addresses to their profiles. The latest update is believed to be a part of Twitter’s Tip Jar feature — which was introduced in May this year — and adds to reports which surfaced earlier this week that the firm would enable Bitcoin ( BTC ) tipping for content creators . Italian mobile developer and self-described “leaker” Alessandro Paluzzi tweeted screenshots on Sept. 3 which showed BTC and Ethereum ( ETH ) wallet address options in the settings toolbar of the app version of Twitter. #Twitter is working to allow you to add your #Bitcoin and #Ethereum address to your profile to receive tips via the Tip Jar feature ℹ️ It is not necessary to link a Strike account to add them to your profile. pic.twitter.com/xT9Tg1vdzR — Alessandro Paluzzi (@alex193a) Sept...
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Traders identify $51K as the key level for Bitcoin to overcome in the short term

Bitcoin’s spike to $50,000 renewed calls for a new all-time high, but analysts caution that a daily close above $51,000 is needed to solidify the current uptrend. The crypto market is back in high spirits on Sept. 2 after Bitcoin price briefly tapped the $50,000 level in the early morning trading session. The move above the key resistance level came as industry insiders hinted that major companies and institutional investors hinted that recent Bitcoin purchases would soon be disclosed in public documents. Additional bullish news came after Vast Bank announced that it had become the first U.S. bank to allow customers to buy, sell and hold Bitcoin ( BTC ) directly in their checking accounts. BTC/USDT 1-day chart. Source: TradingView Here’s what traders and analysts are saying about what to expect next from Bitcoin now that it is trading near the psychologically important $50,000 level. Bitcoin finally broke out of resistance This latest move from Bitcoin managed to break above ...
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$2 Billion Crypto Fraud Bitconnect and Founder Charged — Director Pleads Guilty to Criminal Charges

The $2 billion crypto fraud scheme Bitconnect and its founder have been charged in the U.S. In a parallel enforcement action, a Bitconnect director and top promoter has pleaded guilty to criminal charges in the U.S. “The Bitconnect scheme is believed to be the largest cryptocurrency fraud ever charged criminally,” said the U.S. Department of Justice (DOJ). US Authorities Take Action Against Bitconnect and Its Founder U.S. authorities continue to take action against the fraudulent crypto trading scheme Bitconnect and its executives this week. “The Bitconnect scheme is believed to be the largest cryptocurrency fraud ever charged criminally,” the DOJ described. The U.S. Securities and Exchange Commission (SEC) announced Wednesday that it has filed an action against Bitconnect, its founder Satish Kumbhani, its top U.S. promoter Glenn Arcaro, and his affiliated company Future Money Ltd. The SEC noted that Kumbhani, age 35, is an Indian citizen who resided in Surat, India, but whose curr...
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Eastern Europe Sends Over $800 Million in Crypto to Scams in Single Year, Report Reveals

Of all funds sent to illicit cryptocurrency addresses from Eastern Europe, scams attract the greatest amount, according to a new report. In the past year alone, crypto addresses based in the region have sent the fraudulent schemes a staggering $815 million in crypto. Eastern Europe Leads by Volume of Illicit Crypto Transactions Among the world’s regions with a total crypto transaction volume of at least $400 million, Eastern Europe is the only one where illicit activity exceeds 0.5% of the total value sent and received, Chainalysis notes in a preview of its 2021 Geography of Cryptocurrency report. In a blog post published Wednesday, the blockchain forensics company revealed: Between June 2020 and July 2021, Eastern Europe-based addresses sent $815 million to scams, second only to Western Europe. Crypto addresses in East European countries have the second-highest rate of exposure to illicit addresses, with Africa topping the chart and Latin America ranking third, the excerpt det...
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Traders use this classic trading pattern to determine when to ‘buy the dip’

Ascending channels provide a steady signal on the strength of an uptrend and the optimal levels to open positions during a pullback. Traders use various technical analysis tools to identify emerging trends and profitably trade that direction. One popular trend-defining pattern that traders often rely on is called the price channel.  An ‘ascending channel’ or a “bullish price channel” is formed by drawing parallel lines between the perceived support and resistance levels that an asset trades between on candlestick charts. Ascending channel basics An ascending channel is formed when the price action can be contained within two upward sloping parallel lines. First, the main trendline is drawn by joining the two reaction lows. Then a parallel line is drawn by connecting two reaction highs. This line is called the channel line. The main trendline is the support area from where the price rebounds and the channel line acts as the resistance from where the price turns down. Generally...
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Stablecoins are assets — not currencies, says ECB president

“Stablecoins are pretending to be a coin, but in fact it’s completely associated with an actual currency,” said Christine Lagarde. Christine Lagarde, president of the European Central Bank, said all cryptocurrencies, in which she included stablecoins and speculative assets, “are not currencies at all.” In a Sept. 1 interview with World Economic Forum founder and executive chair Klaus Schwab, Lagarde said cryptocurrencies “present themselves as currencies,” but she still considered them as assets to be regulated and “supervised by asset regulators.” Under this definition, the ECB president claimed fiat-pegged digital currencies were also considered assets. “Stablecoins are pretending to be a coin, but in fact it’s completely associated with an actual currency,” said Lagarde. “For instance, some of them are saying that they can be used for transactions, but the value will be exactly aligned to the dollar.” She added that projects behind issuing any stablecoins should be required to...
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Vasyl Virastyuk, the Strongest Man on the Planet Has Tokenized Autograph With Philography Project

PRESS RELEASE. Vasyl Virastyuk, the strongest man on the planet in 2004 and 2007, tokenized his autograph through the innovative NFT project PHILOGRAPHY . The strongman was the first to start a partnership with PHILOGRAPHY.BIZ. He provided his original autograph to produce a limited edition of collectible NFT autographs and sell them. This is the project’s first NFT token, which will increase its collectible value and investment value in the long run. Vasyl Virastyuk is the owner of the 2004 and 2007 World’s Strongest Man titles and the multiple world champion in strongman competitions. According to reputable online media, the athlete is among the top 10 strongest men in the world in mankind’s history. Vasyl Virastyuk has set a number of world records. Among them: Movement of 5 streetcars weighing 101.5 tons. Movement of 10 cars with a total weight of 16.5 tons over a distance of 18.5 meters. Movement of 7 cars with a total weight of 11 tons over a distance of 25 meters. Vasy...
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SBI reportedly looks to launch crypto fund in Japan by December

An SBI exec said that the company would consider launching a second crypto fund depending on the success of the first. Japanese financial conglomerate SBI Holdings is reportedly planning to set up one of the first funds in the country giving investors exposure to crypto.  According to a Thursday Bloomberg report, SBI, aiming to have a crypto fund available by the end of November, will offer residents of Japan the opportunity to invest in Bitcoin ( BTC ), Ether ( ETH ), Bitcoin Cash ( BCH ), Litecoin ( LTC ), XRP , and others. Tomoya Asakura, a director and senior managing executive officer at SBI, said the company could see the fund growing to several hundred million dollars, with investors likely being required to deposit a minimum of 1-3 million yen, or $9,093-$27,279 at the time of publication. “I want people to hold [crypto] together with other assets and experience firsthand how useful it can be for diversifying portfolios,” said Asakura. He added that SBI would consider ...
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