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Showing posts from September 6, 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...

Nifty News: Dolce & Gabbana's historic NFTs, '26 minute' CryptoPunk flip, FTX spammed

People on Twitter were accusing Pranksy of wash trading a CryptoPunk NFT, Dolce & Gabbana is auctioning luxury NFTs to “approved bidders” and FTX was spammed with tokenized fish. Dolce & Gabbana knocking on the Dior of NFTs Luxury Italian fashion house Dolce & Gabbana is entering the NFT sector with a nine-piece collection of tokenized fashion pieces in collaboration with the Polygon-based UNXD marketplace. The firm was founded by designers Domenico Dolce and Stefano Gabbana in 1985 and has since evolved into a multinational giant that offers high-end fashion items for eye-watering prices. Dubbed “Collezione Genesi” the collection consists of nine one-of-one NFTs that are up for auction starting Sept. 20. The NFTs depict illustrations and digital art of garments designed by Dolce and Gabbana, which can be utilized as wearables in an unspecified metaverse. Ordinary NFT fans won’t be able to ape into this one as the firm is only allowing “approved bidders” to participat...

Visa Plans to Bring Cryptocurrency Services to Traditional Banks in Brazil

Visa, the multinational payments giant, has announced it is planning to bring cryptocurrency services to traditional banking platforms in Brazil. The company also announced that it is working with several cryptocurrency companies in the country to bring cryptocurrency payment cards to the market and hinted at a possible direct integration of bitcoin in payments. Visa Gears Up for Crypto Integration in Brazil Credit card giant Visa has announced it plans to integrate cryptocurrency solutions into traditional banking platforms. Eduardo Abreu, Visa’s vice president of new business in Brazil, stated the company has plans to develop applications (APIs) to unite traditional banks with cryptographic products. In this way, it would be possible to make investments in cryptocurrencies and ETFs within banking platforms with no intermediates. Visa also announced it is working with several national companies to issue cryptocurrency cards. Among these are Zro Bank, Alterbank, and Rippio, which ...

Ethereum layer-twos reportedly processing more transactions than BTC

With an average gas cost of $40, it is no surprise that layer-two platforms are surging in terms of usage. Layer-two scaling protocols for Ethereum have surged in adoption in recent months as gas prices climb again, and the L2 ecosystem is now processing more daily transactions than the Bitcoin network according to recent findings. According to CoinMetrics data collated by industry analyst and Week In Ethereum News founder Evan Van Ness, there were more transactions on Ethereum layer-two than on the Bitcoin network on Sept. 6. Layer-two protocols processed around 250,000 transactions for the day whereas there were around 210,000 on BTC. Fun fact: There are already more daily transactions on Ethereum's layer2 (~250k) than on Bitcoin (~210k yesterday per @coinmetrics ) $ETH layer2 is just getting started — Evan Van Ness (@evan_van_ness) September 6, 2021 The analyst revealed that StarkWare processed the most for the period with around 143,000 transactions across a number...

Caitlin Long takes aim at The New York Times over crypto 'alarm' article

Regulated crypto bank Avanti CEO Caitlin Long says tarring the entire crypto industry with the same brush is unfair. Avanti Bank and Trust CEO Caitlin Long has posted a rebuttal to a recent New York Times article claiming that crypto and decentralized finance is “disrupting the banking industry” so fast regulators can’t keep up. Disrupting traditional finance is exactly what crypto and DeFi aspires to do, but the piece titled “ Crypto’s Rapid Move Into Banking Elicits Alarm in Washington ” published on Sept. 5 had a number of inaccuracies and omissions according to Long. The primary argument of the piece — using DeFi startup BlockFi as an example — was that crypto derivatives and highly leveraged products have become a nightmare for regulators which are scrambling to catch up. High-stakes speculation is leaving investors vulnerable to major losses according to the NYT. But Long stated that the issue is not black and white and suggested that “anti-crypto forces” are constantly try...

ECB Officially Starts to Investigate Digital Euro — Development Could Begin in 2 Years

The European Central Bank (ECB) says it is “starting to investigate” a digital euro by launching a two-year investigation. ECB President Christine Lagarde believes the ECB should be ready to respond to people’s demands for digital currencies and come up with a European-based solution that “does not jeopardize the whole banking system.” Lagarde Unveils ECB’s Plans to Respond to Digital Currency Demand With Digital Euro The president of the European Central Bank (ECB), Christine Lagarde, talked about central bank digital currencies (CBDCs), particularly the digital euro, in an interview last week with Klaus Schwab, founder and executive chairman of the World Economic Forum. Following the interview, Lagarde tweeted: “We at ECB believe that we should be ready and have the technology available to respond to people’s demands. That’s why we are launching a two-year investigation into a digital euro.” The ECB’s website states: We are now starting to investigate what a digital euro migh...

Institutional exposure to altcoin products retests all-time high

Inflows to Solana-based investment products saw a whopping 388% increase last week, with institutional investors gaining exposure to $13.2 million worth of SOL products. Institutional demand for altcoin exposure has surged to record levels, with the altcoin market share now representing a record 35% of capital locked in crypto investment products. According to CoinShares’ Sept. 7 Digital Asset Fund Flows Weekly report , nearly 40% of the past week's inflows to digital asset investment products were allocated t instruments tracking altcoins. While $97.8 million was invested into crypto investment products combined between Aug. 30 and Sept. 3 to mark the sector’s third consecutive week of inflows, $38.9 million was invested into altcoin products. This past week also saw a sizeable increase in institutional crypto investments, with the previous two weeks recording inflows of $24 million and $21 million respectively. Roughly 35% of capital invested in institutional crypto inves...

Kim Kardashian Called out by UK Regulator for Pumping Crypto Token That Could Harm Investors

Kim Kardashian has been singled out by the U.K.’s Financial Conduct Authority (FCA) for pumping a crypto token that could put investors at risk. With 250 million Instagram followers, the FCA chairman said that Kardashian’s cryptocurrency promotion “may have been the financial promotion with the single biggest audience reach in history.” Kim Kardashian Promotes Crypto Token That Could Put Investors at Risk, Said Regulator The chairman of the U.K.’s Financial Conduct Authority (FCA) and the Payment Systems Regulator (PSR), Charles Randell, singled out celebrity Kim Kardashian in a new warning about crypto scams. Kardashian is an American media personality, socialite, model, and businesswoman. She married the pro-bitcoin rapper Kanye West but filed for divorce earlier this year. In his speech Monday at the Cambridge International Symposium on economic crime, Randell discussed “The risks of token regulation” and the “rules which protect people from investment fraud and scams.” When d...

$52K Bitcoin price triggers rally in large caps like Litecoin, Stellar and Bitcoin Cash

Bitcoin’s steady climb toward new highs is bringing about the usual breakout from legacy altcoins like LTC, BCH and XLM. Bitcoin ( BTC ) has been the uncontested cryptocurrency market leader since its creator launched the digital asset in 2009 and to date, it continues to be the dominant force in the industry.  This truth was put on display on Sep. 6 when BTC price rose to the $52,000 level and ignited a market-wide rally that lifted the price of small- and large-cap altcoins. When Bitcoin rallies, most of the legacy coins like Litecoin, Bitcoin Cash, XRP and Stellar tend to move in tandem. Now that BTC looks ready to test new highs, let's take a look at how the so-called 'dinosaur tokens' are doing. LTC/USDT Litecoin ( LTC ) has often been touted as the silver to Bitcoin’s gold because its faster protocol was partially modeled after the top crypto, but modified to increase the token supply and block time. One notable modification to the blockchain over the past few ...

El Salvador Starts Mass Buying Bitcoin Ahead of BTC Becoming Legal Tender Tomorrow

Bitcoin will become legal tender in El Salvador on Tuesday, Sept. 7. The Salvadoran government has started buying bitcoin ahead of the law taking effect. The first 200 coins have been purchased and “a lot more” are coming, said President Nayib Bukele. El Salvador Begins Mass Buying Bitcoin Ahead of Bitcoin Becoming Legal Tender El Salvador’s President, Nayib Bukele, announced Monday: “El Salvador has just bought its first 200 coins. Our brokers will be buying a lot more as the deadline approaches.” At the current BTC price of $51,691, the 200 bitcoins are worth about $10.34 million. Bukele also tweeted, “Tomorrow, for the first time in history, all the eyes of the world will be on El Salvador.” The country’s Bitcoin Law, passed in June, will enter into force on Tuesday, Sept. 7. It will make bitcoin legal tender in the country alongside the U.S. dollar. The government recently published a video explaining what to expect. In preparation for bitcoin becoming legal tender, El Sal...

Baanx Acquires Stake in Major US Fintech Bank

PRESS RELEASE. Baanx, the fast growing B2B2C “Better than a Banking Platform” specializing in fintech services & lending, becomes the third-largest shareholder in the United States regulated Maxwell State Bank in a multi-million-dollar deal to enhance cybersecurity and banking access to communities throughout America. Maxwell State Bank is a fintech bank and VISA Principal Member established circa 1943 in Iowa. With total assets of $29,655,000 and deposits of $25,058,000 Maxwell has been FDIC certified since 1943 for insured deposits. Maxwell was acquired by serial fintech entrepreneur Ronald Ingram, founder of multi-billion dollar fintech programs and companies. He has ambitious plans to make this bank the most secure and future-proof bank in America by expanding their services. He plans to achieve this by working with fintech leaders in cybersecurity, cryptography, tokenization and private/public key infrastructure companies. Baanx has rapidly become a market leader in secure ...

El Salvador purchases first 200 BTC, President Bukele confirms

El Salvador is the first country in the world to recognize Bitcoin as legal tender. Despite opposition from local groups, the government believes cryptocurrency will be a net positive for the economy and society. El Salvador president Nayib Bukele confirmed Monday that his government has purchased its first 200 Bitcoin ( BTC ) ahead of the Sept. 7 rollout of a new law set to make the cryptocurrency legal tender.  “Our brokers will be buying a lot more as the deadline approaches,” Bukele said , referring to the Sept. 7 timetable for fully implementing the new BTC legislation. El Salvador has just bought it’s first 200 coins. Our brokers will be buying a lot more as the deadline approaches. #BitcoinDay #BTC — Nayib Bukele (@nayibbukele) September 6, 2021 The purchase is part of a new $150 million Bitcoin fund passed last week by El Salvador’s Congress. The fund will be used to facilitate conversions from BTC to United States dollars in the lead-up to the new law being impl...

Price analysis 9/6: BTC, ETH, ADA, BNB, XRP, SOL, DOGE, DOT, UNI, LINK

If bulls flip $52,000 to support, Bitcoin could see a substantial breakout that is likely to pull more buyers into select altcoins. Bitcoin’s ( BTC ) market capitalization is nearing the $1 trillion mark and several altcoins have also been rallying hard in the past few days. This has driven the Crypto Fear and Greed Index into the extreme greed territory where the range fluctuates between 79 and 100. Generally, tops are made when the index hits around 95, which shows there is some more room to run. PlanB, the creator of the Bitcoin stock-to-flow model, believes that BTC is on target to reach $100,000 by Christmas this year. Eventually, he believes that BTC price will be much higher than $100,000 before the end of the current halving cycle in 2024. Daily cryptocurrency market performance. Source: Coin360 Tuesday marks an important milestone for Bitcoin because El Salvador has become the first sovereign country in the world to launch BTC as legal tender. Although the experiment w...

ETH 2.0 Contract Exceeds 7.4 Million Ether, Close to $30 Billion Locked, Liquid Staking Pools Grow

The Ethereum 2.0 contract now has more than 7.4 million ether worth over $29.3 billion using today’s ether exchange rates. According to statistics, the smart contract address is the largest holder of ethereum out of all the wallets in existence. Ethereum 2.0 Contract Nears $30 Billion In the early days, the Ethereum ( ETH ) protocol was a 100% proof-of-work (PoW) blockchain but in more recent times, Ethereum is now a mix of proof-of-stake (PoS) and PoW. In time, the digital currency and smart contract network will be 100% PoS and this will be the main consensus algorithm that keeps Ethereum chugging along. On November 6, 2020, Bitcoin.com News reported on the co-creator of Ethereum, Vitalik Buterin, adding $1.4 million worth of ether into the Phase 0 smart contract. Since then, the ETH 2.0 contract has swelled significantly. In July 2021, Bitcoin.com News reported on the Ethereum 2.0 contract exceeding six million ether. At the time on July 2, the six million ether was worth $12...

These 3 altcoins mooned as Bitcoin price rallied to $52,000

ROSE, PRQ and AVA price soared after a key trading metric signaled that ‘altseason’ is here and BTC moved to $52,000. The wider cryptocurrency market is showing signs of strength on Sep. 6 as Bitcoin ( BTC ) bulls battle for control at the $51,500 level.  Altcoins have benefited from Bitcoin’s strong showing with many seeing gains in excess of 20% and the Altseason Indicator from Cointelegraph Markets Pro continues to signal that market conditions are tilted toward further gains from altcoins. Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were Oasis Network (ROSE), PARSIQ (PRQ) and Travala (AVA). Oasis Network partners with API3 Oasis Network is a blockchain protocol with privacy-enhancing features that create a secure platform for open finance and responsible data management. VORTECS™ data from Cointelegraph Markets Pro beg...

German asset manager Union Investment seeks BTC exposure for several funds

German funds and asset managers are expanding their horizons crypto investments now that the nation has more favorable laws governing Spezialfonds. $500 billion asset manager Union Investment is planning to add Bitcoin ( BTC ) to several investment funds as part of a targeted pilot program for its institutional clients, offering compelling evidence that crypto is becoming more mainstream in Europe's largest economy.  The Frankfurt-based institution told Bloomberg Monday that it is considering adding BTC to a small number of investment funds that will only be available to private investors. For each fund, Bitcoin exposure will be limited to no more than 2% of total assets. Portfolio manager Daniel Bathe said the new investment strategy is likely to commence in the fourth quarter, though no fixed timetable was given. Union Investment is the investment arm of DZ Bank Group, an institution with over 800 cooperative banks. As of June 30, 2021, Union Investment had $507 billion in a...

VORTECS™ Report: This quant-style indicator alerted traders to 3 out of 4 triple-digit rallies this week

Every week, subscribers of Cointelegraph's data analytics platform receive a detailed breakdown of each algorithmic tool's performance. Cointelegraph's Markets Pro data intelligence service, which offers institutional-grade research tools for crypto traders, has shared the latest weekly VORTECS™ Report with its community of subscribers. The full report, available only to subscribers , presents the past week's biggest-gaining tokens as identified by the platform's artificial intelligence tools and offers interpretations of the data that it provides to traders. Here are some of the highlights of the latest issue: Three out of four altcoins with triple-digit weekly gains flash high VORTECS™ Scores before their prices peak. Markets Pro subscribers take profit from FTM's and OGN's rallies thanks to the platform's data intelligence tools. Assets with high VORTECS™ Scores keep yielding consistent average returns, with double-digit average ROIs coming af...

How the Bitcoin model can solve the social media dilemma

Decentralized social media platform built on the Bitcoin model puts privacy first in its new messenger that can send crypto. Social media platforms are constantly under fire for their lack of total end-to-end encryption, existing privacy policies and censorship – but a blockchain-based solution might spell the end to an era of centralized social media dominance. In many ways, social media is a vital component of daily life for both businesses and the average consumer. Today, these platforms connect individuals with their desired type of content based on their own inputs. This streamlined feed being served to users leading them to the businesses waiting at the end, should be the perfect scenario. However, when it comes to distributing the rewards, the results are often incredibly skewed. Algorithms constantly change to create new sources of revenue for the platform while disenfranchising users. Moreover, building these algorithms involves collecting mass amounts of data from indivi...