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Showing posts from September 8, 2021

Balancer Protocol Reveals Partnership With Wallstreetbets Defi Project Wsbdapp

On Wednesday, the programmable liquidity platform Balancer Protocol announced the project has partnered with the Wallstreetbets defi project Wsbdapp. The announcement details that the two projects will collaborate in order to launch Wsbdapp’s exchange-traded portfolios (ETPs) on Balancer V2. Balancer Protocol and Wallstreetbets’ Defi Project Partner to Launch Exchange-Traded Portfolios Last week, Bitcoin.com News reported on the newly launched Wsbdapp decentralized finance (defi) platform hosted on the website wsbdapp.com . The application’s creators claim to be the leaders behind the Wallstreetbets community alongside backing from Jaime Rogozinski, according to a video the team shared on Twitter. On Wednesday, the team behind the Balancer Protocol revealed the project will be collaborating with the Wsbdapp creators. Balancer Protocol is a liquidity provider and decentralized exchange (dex) platform that leverages the Ethereum blockchain. According to Wednesday’s data, Balancer P...

TimeCoin(TMCN) Is Planning to Offer an Innovative DeFi System Called Creator Sponsor Staking

PRESS RELEASE. TimeCoinProtocol is a decentralized sharing economy protocol which aims to optimize world resource usage. Various applications can be built and run on the TimeCoinProtocol including third party applications. The project puts a strong focus on the Gig Economy and Creator Economy. The project has issued an original crypto currency called TimeCoin(TMCN) which is already listed on BitFrorex, BiKi, and BitMart and is planning to be listed on Binance DEX in November and other major exchanges as well. The project has raised over 7 Million USD from equity and crypto investors. There is a limited number of tokens available for special token sales ending at the end of October. The project is currently focusing on Gig Economy applications such as TimeTicket, GameTomodachi, eSportStars, and VTuber Production, NeoRad. TimeCoin will be used on various applications on the platform. TimeTicket is a well-established skill-sharing platform with more than 560,000 users in Japan and ...

Ukraine passes legislation to recognize and regulate crypto

Ukraine is hoping its new digital asset regulations will attract foreign crypto exchanges to set up shop in the Eastern European nation. The Ukrainian Parliament has adopted legislation regulating foriegn and domestic cryptocurrency exchanges operating from within the country. On Sept. 8, the Ukrainian Parliament adopted the draft law “On Virtual Assets,” legally recognizing cryptocurrency in the country for the first time. The legislation is based on the existing standards developed by the intergovernmental policy-making organization, Financial Action Task Force on Money Laundering (FATF). The Ukraine’s Ministry of Digital Transformation will be tasked with overseeing the implementation of the new virtual asset regulation and guiding the industry’s growth, in adherence with “international standards. Anastasia Bratko of the Ministry of Digital Transformation said the law allows companies to launch virtual asset markets in Ukraine and enables banks to “open accounts for crypto com...

DOGE Cost Averaging: Robinhood rolls out fee-free recurring crypto buy feature

Retail crypto traders on Robinhood can now set up commission-free recurring investments in multiple crypto assets on a daily, weekly, bi-weekly or monthly basis. Retail trading platform Robinhood has rolled out a new recurring crypto investment feature for users who want to dollar cost average (DCA) into a coin. Given DOGE accounts for 62% of Robinhood’s crypto services revenue, the move could result in a steady stream of small buyers for the memecoin. The firm announced the launch of the new feature on Sept. 8, and users are able to set up up recurring investments in multiple crypto assets on a daily, weekly, bi-weekly or monthly basis. The minimum purchase amount is $1, with the firm is promoting the feature as a simple way to DCA into crypto markets without paying fees. “If you place an order and spend $100 to buy Bitcoin, you’ll get $100 worth of Bitcoin. Period,” Robinhood stated. Related: PayPal reportedly looks to take on Robinhood with stock trading According to the ...

SEC vs Coinbase: Alex Mashinsky says Celsius will have to 'wait and see' on fallout

The Celsius CEO is also seeking clarity for similar products while Mark Cuban advises going on the offensive. Support for Coinbase and its CEO, Brian Armstrong, has been pouring from the crypto community since the company disclosed in a regulatory filing on Wednesday that it had received a Wells notice from the U.S. Securities Exchange Commission. The regulator has threatened to sue the exchange over its proposed Lend program, which would offer 4% interest on customer holdings of the USDC stablecoin. Company CEO Brian Armstrong took to Twitter on Sept. 8 to vent his dismay over the lack of clarity from the regulator as to why it believes the product is a security. Rival platforms Celsius and BlockFi offer similar products. Speaking to Yahoo! Finance on Sept. 8, Celsius Network co-founder and CEO Alex Mashinsky said that everyone in the crypto industry was looking for clarity: “I think we’re going through these murky waters right now and we need to get clarity and its going to t...

Play-to-earn gold rush as Crypto Gaming Guild and Zebedee raise millions from VCs

Play-to-earn is booming, with startups Crypto Gaming United and Zebedee closing funding rounds of $5 million and $11.5 million respectively. Crypto Gaming United, a startup aiming to build a global community of nonfungible token (NFT)-focused play-to-earn gamers, hraised $5 million in an oversubscribed seed funding round. A Sept. 8 announcement notes the round was led by famed Australian venture capitalist Mark Carnegie and Chrono.tech CEO Sergei Sergienko — with the pair having co-founded the crypto-focused asset manager MHC Digital Finance. Australian investment managers Shaw and Partners and Blockchain Assets also participated in the round. Crypto Gaming United was established in August of this year and has already attracted more than 1,500 members and has a waiting list of almost 40,000. The guild helps members play the popular NFT-based game Axie Infinity by offering scholarships where sponsors provide expensive in-game assets to players who can use them to generate revenue....

South African Exchange Sets New Crypto Withdrawal Limits — Restrictions ‘a Deterrent for Illicit Actors’

One of South Africa’s biggest cryptocurrency exchanges, Luno, has confirmed that it has started restricting withdrawals by clients. The exchange insists the limits are meant to “act as a deterrent for illicit actors moving large amounts of funds within the crypto ecosystem.” Transfers From Luno to Binance Blocked However, despite this acknowledgement, Luno has so far refused to explain how the exchange sets the so-called “dynamic risk-based limits.” According to a report, the limits — which are separate from the send limits that appear on Luno’s website — were discovered by one of the exchange’s clients. The discovery became apparent to the client when their attempt to transfer crypto assets from a Luno account to a Binance wallet failed. When approached for answers, Luno explained to the client(s) that the limits had been imposed in order to “protect our customers and in an effort to comply with best practices in anti-financial crime and anti-fraud.” Furthermore, the exchange tol...

Afterpay ‘absolutely’ keen to explore crypto services after regulations clarified

Afterpay spoke as part of the Senate inquiry into “Australia as a Technology and Financial Center” and Lee Hatton said there would be enough consumer demand to offer crypto services. Australian buy now pay later (BNPL) giant Afterpay — now part of Jack Dorsey's Square — has said that it is likely to pursue cryptocurrency services once the regulatory framework is clear. Following on from Afterpay’s submission to the Senate inquiry into “Australia as a Technology and Financial Center” which posited that merchants could slash payment costs by utilizing cryptocurrencies, representatives spoke to the inquiry on Sept. 8. Afterpay’s vice president for public policy and communications Damian Kassabgi said that “this idea of being able to exchange currencies from person to person or to a merchant without going through the traditional rails could create a lot of efficiencies.” Crypto-friendly Liberal senator Andrew Bragg asked if Afterpay had plans to offer crypto services in the futu...

Georgia on my mine: Bitmain brings 56K Bitcoin miners to the state

The $62 million deal is expected to generate $10 million in monthly revenue for ISW Holdings. Chinese mining hardware giant Bitmain will be bringing 56,000 of its latest Antminers to the southeastern U.S. state of Georgia. The influx of mining rigs is part of a three-way deal between Nevada-based tech firm ISW Holdings, crypto mining datacenter Bit5ive, and Bitmain. The total cost of the hardware deployment will be around $62 million according to ISW and is expected to generate monthly revenue of $10 million when running at full capacity. ISW Holdings has already parted with $6 million towards the purchase that will see Bitmain's Antminer S19J mining rigs deployed under its new BlockQuarry brand using Bit5ive’s infrastructure. Bitmain reportedly suspended orders of new miners in June amid a booming secondhand market. When fully operational in October 2022, the new miners will consume up to 200 megawatts of electricity at a BlockQuarry facility called "POD-CITY" in G...

‘SEC Will Stop at Nothing to Control Entire Crypto Space,’ Says Former Federal Prosecutor

A former federal prosecutor says that the U.S. Securities and Exchange Commission (SEC) “will stop at nothing to control the entire crypto space.” The SEC has now threatened to sue the Nasdaq-listed crypto exchange Coinbase. The regulator is already in an ongoing lawsuit with Ripple Labs and its executives. SEC Going After Entire Crypto Space, Says Former Federal Prosecutor James K. Filan, a former federal prosecutor who served for nine years in the United States Attorney’s Office for the District of Connecticut, commented on the warning issued by the U.S. Securities and Exchange Commission (SEC) regarding Coinbase’s Lend program Wednesday. Filan is an attorney specializing in securities litigation and government investigations. He is also a prominent voice in the Ripple community. Filan tweeted: The SEC will stop at nothing to control the entire crypto space. This isn’t just about Ripple. Coinbase accuses the SEC of using ‘intimidation tactics behind closed doors’ to stop the c...

Australian crypto businesses tell Senate inquiry about being de-banked up to 91 times

Speaking on a panel as part of the senate inquiry into “Australia as a Technology and Financial Centre” three crypto firms outlined their de-banking experience in Australia. Crypto-related companies and figures have provided evidence about being de-banked by Australian financial institutions to a Senate inquiry. Crypto investment firm Aus Merchant, global remittance provider Nium and small peer-to-peer crypto brokerage platform Bitcoin Babe were speaking on a panel as part of the senate inquiry into “Australia as a Technology and Financial Centre” on Sept. 8. All three are registered with financial intelligence regulator AUSTRAC and are subject to reporting requirements, however they all echoed similar sentiments of being de-banked without a concrete explanation as to why. Michaela Juric, the founder of the peer-to-peer trading business dubbed after her nickname “Bitcoin Babe” stated that she has been banned by a total of 91 banks and financial institutions throughout her seven-...

BitMEX racketeering complaint dismissed over lengthy ‘copy and paste’ claims

Plaintiffs accusing BitMEX of market manipulation and racketeering violations will not be able to file their complaint again after being shot down by Judge William Orrick for the second time. A U.S. District Judge has dismissed amended racketeering allegations brought by traders against the parent company of derivatives exchange BitMEX, HDR Global trading, noting that many of the plaintiff’s accusations had been copy and pasted from a different lawsuit filed against the platform. On Sept. 7, Judge William Orrick dismissed the plaintiff’s claims that BitMEX had engaged in market manipulation, fraudulent inducement, and violated both the Racketeer Influenced and Corrupt Organization Act (RICO) and Commodity Exchange Acts. According to Law360 , Judge Orrick concluded the filings were “conclusory” and “prolix” in nature, stating: "The size and prolix nature [...] alone are grounds for dismissal. I have also searched for a plausible claim and cannot find one." The amended co...

Bill Miller’s Hedge Fund Sees Bitcoin Having ‘Significant Upside Potential’ as Digital Gold

In a report filed with the U.S. Securities and Exchange Commission (SEC), the fund managers for the Miller Opportunity Trust, Bill Miller’s hedge fund, state that “bitcoin has significant upside potential as a form of digital gold.” The report details that despite its volatility, bitcoin’s “risk-reward is attractive.” Hedge Fund Manager Sees Bitcoin’s ‘Significant Upside Potential’ Miller Value Funds’ semi-annual report for the Miller Opportunity Trust, filed with the U.S. Securities and Exchange Commission (SEC) last week, states: We believe bitcoin has significant upside potential as a form of ‘digital gold.’ The Miller Opportunity Trust hedge fund has $2.72 billion in assets under management (AUM) as of July 31. Its portfolio managers are Bill Miller and Samantha McLemore. “We have been observers of bitcoin for a long time and during the quarter, the fund received approval to invest in Grayscale Bitcoin Trust (GBTC), which is an open-ended grantor trust fully invested in bit...

dYdX exchange releases governance token, making its airdrop worth up to $100K

The DYDX governance token becomes the latest airdrop to surpass $100,000 for the most active users, and the DEX's transaction volumes highlight the rising popularity of layer-2 platforms. Airdrops have been a fan-favorite in the cryptocurrency ecosystem for years because they offer projects a way to reward early adopters and increase token distribution. The latest project to surprise its community of supporters with retroactive rewards for its newly minted token is dYdX, a non-custodial decentralized derivatives exchange that operates on a layer-2 version of the Ethereum ( ETH ) network. Data from CoinGecko shows that on its first day of trading live in the markets, DYDX is trading at a price of $10.28 at the time of writing after hitting an intra-day high at $14.24. DYDX/USD 5-min chart. Source: CoinGecko The number of tokens received by each user was determined by their previous trading actively on the platform, with the lowest tier user receiving 310 tokens for trading...

Russia Not Ready for Bitcoin as Legal Tender, Putin’s Spokesman Peskov Says

Russia has no reason to recognize bitcoin, President Putin’s press secretary has noted after El Salvador became the first country to adopt the digital coin as legal tender. In a statement to the press, Dmitry Peskov revealed he is convinced that such a move would not bring any benefits to the Russian Federation. Kremlin Not Open to Bitcoin Adoption in Russia The government in Moscow sees no reason to recognize bitcoin at this point, according to Dmitry Peskov, press secretary of Russian President Vladimir Putin. Describing it as a quasi-currency, the Kremlin representative insisted that equating bitcoin to official monetary instruments wouldn’t do anything but harm Russia’s financial and economic system. Speaking to reporters, Peskov emphasized: Clearly, Russia is not ready for such steps. The statement, quoted by RIA Novosti news agency on Tuesday, came as the Republic of El Salvador became the world’s first country to recognize bitcoin ( BTC ) as legal tender for payments in ...

CoinFLEX Announces Its Major Milestones of 2021

PRESS RELEASE. Since early August, CoinFLEX has seen a tremendous increase in trading activity, climbing to a staggering high of $3 billion USD daily trading volume with Open Interest over $200 million dollars. The increase in trading volumes and market liquidity are indications of CoinFLEX’s rapid adoption. CoinFLEX’s repo volume has also seen a significant increase, with total trading volumes surpassing $120 billion. The repo market is vital to the CoinFLEX ecosystem as its profits fuel flexUSD’s competitive APRs. On CoinFLEX and other futures exchanges, futures markets have a lot of trading activity, creating “basis.” Basis is the price differential between spot trades and futures contracts. flexUSD is deployed through the repo market to take advantage of the price difference. For this reason, although flexUSD offers variable market-based interest rates, current users are experiencing high APRs . When there’s a dislocation between the spot and futures price, a trading bot w...

Price analysis 9/8: BTC, ETH, ADA, BNB, XRP, SOL, DOGE, DOT, UNI, BCH

BTC and most altcoins are attempting to capitalize on today’s market-wide oversold bounce but the recovery could be thwarted by sell pressure at overhead resistance levels. Analysts are attributing Bitcoin’s ( BTC ) plunge on Sep. 7 to the liquidation of over-leveraged positions. According to Bybt data, about $3.68 billion worth of long positions were liquidated in the last 24 hours in the Bitcoin options market. On-chain monitoring resource Whalemap said the decline was largely caused due to selling by whales who had recently bought their Bitcoin and not by the HODLers. Separately, analyst Willy Woo also said: “Leverage markets sold off but investor buying just got stronger.” Every bull market has its share of corrections where weaker hands are shaken out and the stronger hands solidify their position. Therefore, if investors believe in the long-term story, they should not be perturbed by the pullbacks. Daily cryptocurrency market performance. Source: Coin360 A new report ...

Blockstream and Macquarie Group launch Bitcoin mining pilot program

The BTC mining industry is getting a makeover as miners shift their focus to ESG, or environmental, social and governance, initiatives. Blockchain infrastructure developer Blockstream has partnered with Macquarie Group, an Australian multinational investment bank, to launch a new pilot for a Bitcoin ( BTC ) mining facility with a mandate to explore carbon-neutral alternatives. As part of the pilot project, Macquarie Group is investing in one of Blockstream’s enterprise-grade mining facilities, the companies announced Wednesday. This will allow Macquarie Group to uncover new opportunities in renewable energy that can be bootstrapped for more sustainable Bitcoin mining initiatives. Macquarie Group is one of the largest institutional investors in the renewable energy infrastructure, with 44 gigawatts of generation under development or construction as of March 31, 2021. Blockstream has broadened its ambitions in the Bitcoin mining industry after successfully raising $210 mi...

Salvadoran Government’s Chivo Wallet Experiences Hiccups, Some Residents Can’t Claim $30 BTC Reward

On the day El Salvador implemented the bitcoin tender law, the official government wallet called the Chivo wallet had some initial issues for five hours on Tuesday. Residents could not leverage the application and had issues accessing the app on Apple’s App Store and Google Play. The situation seems to be resolved now as Salvadoran president Nayib Bukele explained on Twitter that the Chivo wallet’s “maintenance” was complete. Chivo Wallet Down Five Hours for ‘Maintenance,’ Bukele Says ‘Take It Slow,’ Google Play Servers Were ‘Saturated’ El Salvador now has the U.S. dollar and bitcoin ( BTC ) as the nation-state’s legal tender following the implementation of the Bitcoin law on Tuesday, September 7, 2021. In addition to creating the law, Salvadoran president Nayib Bukele and his government have been buying BTC in mass quantities and have also developed crypto infrastructure for the nation’s citizens. For instance, the Salvadoran government launched the Chivo wallet which allows user...