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Showing posts from September 3, 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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Italian Soccer Champion Inter Secures $100 Million Crypto Partnership Deal

Inter Milan, Italy’s reigning soccer champion, has signed a partnership agreement with blockchain company Zytara Labs. The collaboration aims to provide users of the club’s mobile app with access to crypto products and allow Inter to create digital collectibles for fans around the world. Italy’s Inter Finds Sleeve Sponsor in the Crypto Industry The €85 million ($100 million) multi-year product partnership agreement has been sealed with support from the Digitalbits Foundation, FC Internazionale Milano and Zytara Labs announced Thursday. The collaboration will facilitate Inter’s plan to open up to an audience that is increasingly digital, global, and that represents different age groups, the entities explained in a press release. As part of the deal, Zytara will become the “official global digital banking partner” of Inter while digitalbits (XDB) will be the club’s “official global cryptocurrency.” The fintech firm will work to develop the Inter mobile app and integrate its digital...
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Singapore, South Africa Latest Countries to Warn Against Crypto Exchange Binance

The list of regulators warning that Binance is illegally operating in their jurisdictions continues to grow. The authorities in Singapore and South Africa have become the latest to warn that the global cryptocurrency exchange may be in breach of their local laws. South Africa’s Financial Sector Conduct Authority Warns Against Binance The South African financial regulator issued a notice Friday about Binance, stating: The Financial Sector Conduct Authority (FSCA) warns the public to be cautious and vigilant when dealing with Binance Group as they are not authorised to give any financial advice or render any intermediary services in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act) in South Africa. The notice describes Binance Group as “an international company situated in the Seychelles which has a telegram group that members of the South African public can join to gain access to their cryptocurrency exchange platform.” Furthermore, the regulator not...
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Japan’s Financial Giant SBI to Launch Cryptocurrency Fund

Japanese financial conglomerate SBI Holdings is reportedly launching a crypto fund that will invest in several cryptocurrencies. “I want people to hold it together with other assets and experience firsthand how useful it can be for diversifying portfolios,” said an executive of the company. SBI Holdings Launching Crypto Fund SBI Holdings Inc. has revealed its plan to launch a cryptocurrency fund by the end of November, Bloomberg reported Thursday, calling it the country’s first crypto fund. Tomoya Asakura, director of SBI Asset Management and president of SBI affiliate Morningstar Japan, explained that the fund will invest in a number of cryptocurrencies, including bitcoin, ethereum, XRP , bitcoin cash, and litecoin. He added that the fund is aimed at customers who understand the risks associated with cryptocurrencies, including their high volatility. In addition, there may be a minimum investment of about one million yen ($9,122) to three million yen. Asakura noted in a recent i...
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End of August’s NFT Sales Tapped All-Time High at $1 Billion, Last Week’s NFT Sales Hit $821 Million

Data shows that non-fungible token (NFT) assets continue to break record sales week after week as statistics show over $1 billion in NFT sales took place during the last week of August. Meanwhile, this week’s data shows $821 million in NFT sales have been settled so far, dropping a hair since the week prior. Weekly Stats Show NFT Sales Are Still on Fire Non-fungible tokens (NFTs) have become extremely popular and a great number of NFTs are selling for hundreds of thousands or millions of dollars in crypto. Statistics from nonfungible.com ’s market history indicates that on August 29, 2021, seven-day sales broke an all-time high (ATH) at $1 billion in overall sales across all markets and NFT collections. Data from September 1, 2021, indicates sales are down from the ATH at $821 million this week. Statistics via nonfungible.com’s weekly data on September 3, 2021. Cryptopunks is the top collection selling during the last seven days according to dappradar.com weekly NFT sale statist...
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Altcoin Roundup: Time to rotate! Data suggests traders are shifting from NFTs to DeFi

Timing the market is near impossible, but these five metrics can help traders identify when a sector rotation is underway. An important part of preserving investing profits is knowing when an asset or sector is showing signs of exhaustion and when a sector rotation is underway.  This is especially important in the rapidly moving cryptocurrency markets, which can change direction in a heartbeat and turn crypto millionaires into depressed bag holders. Most investors know that the nonfungible token (NFT) sector has been on fire since July, and as CryptoPunks, Mutant Ape Yacht Club and pet EtherRock NFTs fetched six- and seven-figure sums , while top NFT marketplace OpenSea surpassed $4 billion in total sales. While the frenzy has been exciting, many new projects have launched across a variety of blockchain networks, and the recent decline in transaction volumes could be a signal that investors are looking to move to different pastures. In the first quarter of 2021, decentralized...
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Mastermind of Zimbabwean Bitcoin Pyramid Scheme Vanishes With $6 Million

Reports from Zimbabwe suggest that an individual by the name of Martin Mhlanga, who is the mastermind behind the Cryptoshares bitcoin pyramid scheme, has disappeared along with over $6 million in investor funds. In addition to Mhlanga’s disappearance, the individuals thought to be managing Cryptoshares’ social media channels have similarly vanished. Unrealistic Cryptoshares Promises As one local report explains, Mhlanga had successfully used a series of unrealistic promises to lure many unsuspecting people into investing. For instance, the report explains that many of the victims had been lured into investing by claims that initial Cryptoshares investors were receiving a monthly membership payment of $2,000. Investors were also promised a payout that is double the amount of the initial investment. Believing that they too would be in line to receive the same monthly payment, some of Mhlanga’s victims are thought to have sold their properties just so they could raise the required mon...
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Banks vs. exchanges — regulators overwhelmingly penalize fiat, not crypto

Data from a recent report suggest that enforcement actions from U.S. regulators against those in the crypto space cost those firms less than 1% of that in traditional finance for the last 20 years. While regulators have often targeted projects in and out of the crypto space, the fines levied against digital asset exchanges are a fraction of those against traditional financial institutions. According to data from Good Jobs First’s violation tracker, the platform analyzed 50 of the biggest fines regulators levied against major banks, investment firms, and brokers over the last 20 years. Bank of America accrued roughly $82 billion covering 251 different fines including securities violations, while JPMorgan Chase and Citigroup were also some of the most fined banks in the U.S. since 2000 with penalties totaling $35.9 billion and $25.5 billion, respectively. While both major banks and crypto exchanges have often been penalized for securities violations, data suggest that enforcement ac...
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Price analysis 9/3: BTC, ETH, ADA, BNB, XRP, SOL, DOGE, DOT, UNI, LINK

This week’s sharp rally in Bitcoin and Ether signals that bulls are back in control and altcoins are likely to follow. Bitcoin ( BTC ) finally broke above the $50,500 resistance and Ether ( ETH ) has risen above the $4,000 mark. This suggests that there is growing interest in cryptocurrencies and several legacy finance companies are initiating steps to tap into this increasing demand. One of the world’s largest independent asset managers, Franklin Templeton, has posted fresh job applications for medium to senior-level positions in crypto trading and research, according to Linkedin job postings. Meanwhile, in Japan, financial conglomerate SBI Holdings is planning to set up one of the first crypto funds in the country by the end of November. Tomoya Asakura, the director and senior managing executive officer at SBI, said that the launch of a second fund will be explored depending on the success of the first one. Daily cryptocurrency market performance. Source: Coin360 While cry...
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Binance pushes back against warning from South Africa regulator

Though the FSCA is an agency of the South African government, Binance claimed the country’s Financial Intelligence Centre was the “major regulator” with which it had been working to be in compliance with local laws. In response to a warning from South Africa’s Financial Sector Conduct Authority, major cryptocurrency exchange Binance has said it is in compliance with local regulators and is not offering financial advice or intermediary services to residents. In a Friday statement from Binance, the crypto exchange implied the warning from the Financial Sector Conduct Authority , or FSCA, lacked authority because the group does not have the power to regulate “crypto-related investments” in South Africa. The exchange also pushed back against allegations that South Africans used the Binance South Africa Telegram group to access services for the crypto exchange, saying the online community promoted blockchain education, but did not provide financial advice or services. Though the FSCA is...
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Hashrate Follows Price: Bitcoin Hashrate Jumps 92% in 2 Months, Difficulty Expected to Increase in 4 Days

Bitcoin prices have improved a great deal in recent times and the network’s hashrate remains higher than it was 67 days ago when it tapped a low of 69 exahash on June 28. Today, statistics show Bitcoin’s hashrate has increased more than 92% since then and the network is due for another increased difficulty change in four days. Bitcoin’s Hashrate Improves a Great Deal in 2 Months Bitcoin has risen more than 7% in fiat value during the last seven days and has a market capitalization of over $950 billion on Friday. At press time, three month hashrate stats from coinwarz.com shows BTC ’s hashpower has increased a great deal since the end of June. At that time, bitcoin miners from China were facing a crackdown from the government and were forced to relocate to other countries. BTC ’s mining difficulty, however, started dropping well before the low drop to 69 exahash per second (EH/s). At the end of May, the difficulty slid by 15.97% and two weeks later another 5.3% decrease took place...
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Altcoins book 50% gains after Bitcoin and Ethereum set a path to new highs

POLY, BCHA and XYO led altcoins higher after BTC flipped $50,000 to support and ETH hit $4,000. The bullish momentum across the cryptocurrency market continued to build on Sept. 3 as a market-wide rally lifted the prices of most altcoins and boosted Bitcoin ( BTC ) and Ether ( ETH ) above their respective resistance levels at $51,000 and $4,000. The recent price gains seen in the altcoin market show no sign of slowing down and several altcoins gained more than 30% on Friday. Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro Data from Cointelegraph Markets Pro and TradingView shows that the best performers over the past 24-hours were Polymath (POLY), Bitcoin Cash ABC (BCHA) and XYO Network. Polymath rallies as its 'Polymesh' mainnet launch approaches Polymath is an Ethereum-based project focused on digital asset management. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $0.345 on Sep. 1, th...
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NBA’s Dallas Mavericks’ Shop to Give Rewards to Customers Paying With Dogecoin and Other Cryptos

The professional basketball team owned by the billionaire Mark Cuban, the Dallas Mavericks, announced “Mavs Cryptomania,” which gives Dallasmavs.shop customers a $25 e-gift card if they pay with cryptocurrencies like bitcoin, ethereum, bitcoin cash, and dogecoin. The Mav’s owner has been a big proponent of crypto assets and the Mav’s was the first NBA team to accept dogecoin for tickets and merchandise. Dallasmavs.shop Customers Paying With Crypto Will Get a Gift Card Reward Mark Cuban , Shark Tank star and the owner of the NBA basketball team the Dallas Mavericks is a big believer in crypto assets. More specifically, Cuban and Tesla’s Elon Musk think dogecoin (DOGE) is the ”strongest” cryptocurrency for payments . Cuban told his Twitter followers that the Mav’s were hodling DOGE after sales, and he even told the popular Talk show host Ellen Degeneres to get into dogecoin. When speaking about hodling dogecoin, Cuban said: FYI, the Mavs sales in dogecoin have increased 550pct ove...
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Mark Cuban's Dallas Mavericks offer cashback rewards on Dogecoin purchases

Dallas Mavs fans who spend more than $150 worth of Dogecoin in one transaction will receive a $25 e-gift card that they can use for purchases on the team's online store. Dallas Mavericks, Mark Cuban’s NBA franchise, started a cashback rewards program to incentivize merchandise and ticket payments in Dogecoin ( DOGE ). The rewards program is dubbed “Mavs Cryptomania,” and customers who spend more than $150 worth of Dogecoin in one transaction will receive a $25 e-gift card that they can use for online purchases in the Dallas Mavs shop. The program is slated to finish on September 30. At the time of writing, users will need to outlay 505 Doge in order to receive the e-gift card. The Mavs started accepting DOGE for payments back in March and were also one of the first NBA franchises to accept Bitcoin ( BTC ) payments for tickets and merchandise back in 2019. Cuban is a major Dogecoin proponent and stated in April that while the coin started as a joke, it is “becoming a digita...
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