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Showing posts from September 13, 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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FSC Regulatory Overhaul Expected to Shut Down 40 Crypto Exchanges in South Korea

A new regulatory overhaul could put 40 out of 60 exchanges out of business in South Korea after the firms are expected to fail to meet the conditions that are being proposed by the Financial Services Commission (FSC). This action might also affect holders of locally used “kimchi” coins, that won’t be able to trade them for fiat in other exchanges. This could bring losses of more than $2.6 billion. South Korea Exchange Options to Reduce Drastically A regulatory overhaul might reduce drastically the number of exchanges operation in South Korea. According to FT , it is expected that 40 of the 60 exchanges that operate in the country will be closed due to the inability to comply with the new regulatory framework issued by the Financial Services Commission. This rule, which has a deadline for next September 24, establishes that all exchanges need to register with the institution to operate in the country. However, many of these exchanges have no way of complying with the requisites to...
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NYAG shuts down Coinseed for converting customer funds into DOGE without consent

New York Attorney General Letitia James ends operations for Coinseed following complaints that client funds had been converted to DOGE without their knowledge. The New York Attorney General (NYAG) has won a victory against crypto exchange Coinseed for its dodgy dealings with Dogecoin and defrauding its customers.  On Sept. 13 NYAG Letitia James ordered Coinseed Inc. to permanently halt operations and pay $3 million in fines after it had been accused of freezing withdrawals and converting client funds into Dogecoin (DOGE) without consent. The exchange also emptied its bank accounts and issued unlicensed securities, according to Bloomberg . Despite previous court orders ordering Coinseed to cease operations, James also found that the company continued to partake in “egregious and fraudulent activities” while the case was ongoing, according to Law360 : “In defiance of court orders, this company has continued to operate illegally and unethically, holding investors' funds hostage a...
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EY selects Polygon to scale its enterprise blockchain products on Ethereum

EY is integrating its blockchain products with Polygon to mitigate the high fees and congestion associated with transacting on Ethereum mainnet for its enterprise clients. Announced on Monday, EY’s flagship blockchain services including EY OpsChain and EY Blockchain Analyzer will be integrated with Polygon, allowing transactions to be committed to Ethereum via the sidechain. EY emphasized that its enterprise clients will have access to increased transaction throughput with predictable fees and settlement times using Polygon. The firm also revealed it is working with Polygon to offer permissioned, private optimistic rollup chains. Rollups are a second-layer scaling solution that provides increased security and efficiency compared to transacting on the Ethereum mainnet. Paul Brody, EY Global Blockchain Leader, remarked: Ernst & Young (EY), one of the ‘Big Four’ consulting multinationals, will connect its blockchain solutions to Polygon to mitigate the scalability constraints o...
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FUFU Raises $1.7m From Major Investors to Develop the Next Generation Content Marketing Platform

UwUFUFU.com, a content marketing platform, has successfully raised $1.7 million USD from early investors. Adopting the play-to-earn mechanism in the form of viral quizzes, anyone can create, play, share quizzes and earn NFTs through FUFU’s reward system. NFTs on FUFU function as a collectible and a potential membership to gain access for future events, drops, sales, and more. They also function as “boosts” in drop rate and rarity of items from loot balls, which serve as the delivery mechanism of rewards. This is the backbone of FUFU, which they believe will propel the platform to the forefront of the industry. Through this, they are able to introduce the concept of rewards to active users, generating traffic and revenue. The team is grateful for the support from both the community and early investors. “We’d like to give special thanks to GBV, Faculty Group, and Boxmining for being the first to support our vision at FUFU. The backing of the investors further instilled confidence in o...
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Ethereum Foundation backs Spruce’s vision for decentralized identity verification

Spruce hopes its Ethereum-powered sign-in system can offer a decentralized alternative to the data-harvesting identity services offered by tech giants. The Ethereum Foundation (EF) and Ethereum Name Service (ENS) are backing a proposed system for secure sign-in using Ethereum from decentralized identity software firm Spruce. Spruce’s system was selected after EF and ENS submitted a Request for Proposals in July encouraging developers and software firms to propose a sign-in package using Oauth — an open standard for access delegation. A Sept. 13 announcement states that the firm aims to give users control of their own online identities, offering an alternative to handing over one’s personal data to the likes of Google, Apple, and Facebook. Spruce notes that the Ethereum ecosystem “already has tens of millions of monthly active wallet users signing with their cryptographic keys for financial transactions, community governance, and more,” adding: “The security of these wallets has ...
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SEC takes action against Chinese billionaire's companies over $500M offerings

The SEC has taken action against three companies owned by Chinese Billionaire Guo Wengui for commingling the proceeds from two unregistered securities offerings. The United States Securities and Exchange Commission (SEC) has charged three of Chinese billionaire Guo Wengui’s companies over an initial coin offering (ICO) and initial public offering (IPO) that fetched around $487 million combined. The infamous Wengui, also known as Miles Kwok or Miles Guo, is an exiled Chinese businessman who currently resides in New York. Wengui is known for his controversial political takes and his ties to Donald Trump confidant, Steve Bannon . The SEC submitted a cease and desist order on Sept. 13, with the documents showing that Guo’s companies have agreed to pay a settlement with the SEC within 14 days. The SEC outlined two unregistered securities offerings from Guo’s firms, with GTV Media Group, Saraca Media Group and Voice of Guo Media conducting an IPO between April 1 and June 2020. Saraca ...
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Shark Tank Star Kevin O’Leary Expects a ‘Trillion Dollars’ Flowing Into Bitcoin

Shark Tank star Kevin O’Leary, aka Mr. Wonderful, expects a “trillion dollars” more to flow into bitcoin in the next couple of years. He also sees cryptocurrencies becoming an institutional asset class. “We don’t know when but it is definitely going to come. It’s not going away,” he said. Kevin O’Leary Sees Trillion-Dollar Opportunity in Bitcoin Kevin O’Leary talked about bitcoin and cryptocurrency in an interview on CNBC’s Capital Connection, published Monday. “I’m bullish on crypto,” O’Leary began, adding that he is also bullish on decentralized finance (defi). Citing the U.S. Securities and Exchange Commission (SEC) pushing back against Coinbase’s Lend product, he said: “That’s a slowdown in what is really emerging as a very interesting space.” Mr. Wonderful emphasized: We want the regulator to actually make some decisions about crypto, because none of us that are in financial services want to actually be cowboys about this. I don’t want to get involved in crypto if the regul...
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Bitcoin miner Greenidge set for Nasdaq listing through merger

The merger is expected to push through as of market close on Sept. 14, with Greenidge slated to begin trading on the NASDAQ the following day. Bitcoin mining and power generation company Greenidge is set to complete a merger with customer and technical support solutions provider Support.com to become the latest publicly listed mining firm.  Once the merger transaction is complete, Support.com Inc. will become a wholly-owned subsidiary of Greenidge Generation Holdings Inc. The new entity’s Class A shares will trade under the ticker GREE. According to a Sept. 13 announcement published by the SEC, the merger is expected to become effective by market close the following day. The merger, settled as a stock-for-stock transaction, will see each share in Support.com Inc. automatically converted into the right for its bearer to receive 0.115 Class A Greenidge shares. Greenidge CEO, Jeff Kirt, stated: "This merger is an important next step for Greenidge as we build upon our existing, ...
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Institutional traders flock to Solana as demand for ETH and BTC flattens

Institutions were betting big on Solana investment products last week, with SOL-tracking products attracting 86.6% of institutional inflows to digital asset products last week. Institutional traders have flocked to Solana (SOL) as demand for Ether (ETH) and Bitcoin (BTC) exposure has flattened, with SOL investment products representing a whopping 86.6% of total weekly inflows crypto investment products last week. According to the Sept. 14 issue of CoinShares’ Digital Asset Fund Flows Weekly, Solana (SOL) investment products saw inflows of $49.4 million between Sept. 6 and Sept.10. The combined total inflows for crypto investment products equated to $57 million for the week, with SOL seeing a 275% week-over-week increase to represent 86.6% of total inflow. The surging inflows to Solana products coincided with the price of SOL gaining 36% over the same period. The report concluded: “A combination of price appreciation and inflows now brings Solana’s assets under management to $97...
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Singapore’s Largest Bank DBS Sees Rapid Growth in Crypto Business, Robust Demand From Investors

DBS Group Holdings, the largest bank in Singapore and Southeast Asia, says its crypto business is “growing very rapidly.” The bank’s digital asset trading platform expects to double the number of members by year-end. Singapore’s DBS Expects Substantial Growth in Crypto Business DBS’s senior executives said in an interview, published by Reuters Monday, that the bank is seeing robust demand from corporate investors, accredited individuals, and investment firms that manage assets of wealthy families. The executives added that the bank expects the number of members trading on its cryptocurrency exchange platform to double by the end of December and grow by 20-30% annually for the next three years. Eng-Kwok Seat Moey, head of capital markets at DBS and chairperson of the exchange, commented: We are growing very rapidly. Investors are gradually exploring cryptocurrencies and digital assets. The bank launched its crypto trading platform, DBS Digital Exchange, in December as a member...
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Cardano Successfully Applies Alonzo Hard Fork; Adds Smart Contract Capabilities to Its Blockchain

Cardano, the third cryptocurrency ranked by market cap, has successfully applied the “Alonzo” hard fork, adding smart contract capabilities to its functionality. The update, that had been deployed in testnet days ago, finally was incorporated in mainnet yesterday. Cardano is now looking to deploy defi apps, and there are already several parties working on widening the Cardano ecosystem in that regard. Cardano Enters Smart Contracts Arena Cardano, one of the leading cryptocurrency chains by market cap, has successfully applied the “Alonzo” hard fork. With this update, the chain has added support for smart contracts to its blockchain. The update that happened yesterday, after being deployed in testnet , features the inclusion of Plutus, a Solidity-like language that will allow programmers to put scripts on-chain. With this update, Cardano is now a new challenger in a crowded defi ecosystem, that is dominated by other more established chains in the space, like Ethereum and Solana. How...
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Bitcoin.com Adorns it’s Crypto-Friendly Casino with New Games from NetEnt

Hot new games from two of the top providers added to Bitcoin.com’s very own crypto casino! Anticipation has been running high among players at Bitcoin.com Games for their favorite games from the leading software provider, NetEnt . Coming off of the recent addition of a range of live casino games from Evolution Gaming and iSoftBet , the popular casino is now bringing some of the most entertaining titles from this iGaming developer that players have come to cherish over the years. With in-demand slots like Dead or Alive 2 Feature Buy, Ghost Pirates and Narcos , as well as the space arcade styled slot Starburst and beautifully designed Gonzo’s quest , the newly added range of games from NetEnt promise a long and enjoyable gaming session enriched with bountiful of chances to win Bitcoin. Hundreds of paylines and thousands of multipliers await for players to spin the reels and open possibilities to take home a fortune. Bitcoin.com Games is also home to their very own exclusive g...
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US lawmakers propose adding digital assets to 'wash sale' rule and raising capital gains tax

If passed, the plan would raise the capital gains tax rate for "certain high income individuals" to 28.8%, while eliminating the "wash sale" loophole for crypto users. Democrats in the U.S. House of Representatives have proposed tax initiatives to fund a $3.5 trillion spending package which could potentially affect crypto users.  According to a document released by the House Committee on Ways and Means on Monday, the proposal would increase the tax rate on long-term capital gains from the existing 20% to 25% for “certain high income individuals.” A surtax of 3.8% on net investment income would seemingly apply to the proposed changes, bringing the U.S. capital gains and dividends tax rate to 28.8% for wealthy crypto users. In addition, the tax plan would add digital assets to the “wash sale” rules, which prohibit investors from claiming capital gains deductions on certain assets repurchased within 30 days of a sale, "previously applicable to stock and other...
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HaloDAO Lists on AscendEX

PRESS RELEASE. AscendEX is thrilled to announce the listing of the HaloDao token (RNBW) under the pair USDT/RNBW on Sept. 13 at 1 p.m. UTC. HaloDAO intends to unlock potential for non-USD stablecoins to generate permissionless on-demand liquidity. They are building their Protocol in the Balancer ecosystem. This will enable local populations to swap and earn crypto, acting as the base layer for additional innovation for local payments. HaloDAO provides an incentivization system embodied in a Decentralized Autonomous Organization (DAO). The stablecoin marketplace protocol connects traditional finance and decentralized finance (DeFi) by enabling deep liquidity networks for local stablecoins and money market fund products. The project aims to create a foundational layer for the digital economy by building an optimized Automated Market Maker (AMM) that efficiently facilitates swaps and minimizes slippage between differently priced stablecoins. HaloDao plans to bootstrap a lending mar...
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Bitcoin price flirts with $40K but derivatives data is still bullish

Bitcoin price is leaning toward the $40,000 level, but derivatives data shows traders are holding a neutral to bullish stance. Bitcoin ( BTC ) price is facing an intense period of volatility as the price moved from a $52,950 top on Sep. 7 to a $42,800 low just two hours later. More recently, the $45,000 support was held for a couple of days despite being heavily tested, and this triggered a $3,400 up-and-down swing on Sep. 13. There’s little doubt that shorts - traders betting on a price decrease - took the upper hand since the liquidation of the $3.54 billion worth of long (buyers) futures contracts on Sep. 7. Microstrategy’s Sep. 13 announcement that it added over 5,050 Bitcoin at an average price of $48,099 was not enough to re-establish confidence, and the cryptocurrency’s price remained unchanged near $44,200. While the impact of shorts may be being felt, it’s more likely that regulatory concerns continue to suppress markets because the United States Treasury Department has...
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SEC chair doubles down, tells crypto firms 'come in and talk to us'

"Under our laws, they have to register with the Commission unless they qualify for an exemption," said Gary Gensler. Gary Gensler, chair of the United States Securities and Exchange Commission, is once again urging crypto projects with securities to register with the regulatory body to ensure thinvestors are protected. In a prepared statement for his testimony at the Senate Committee on Banking, Housing, and Urban Affairs scheduled for Sept. 14, Gensler said the Securities and Exchange Commission, or SEC, was working with the Commodities Futures Trading Commission for investor protection in crypto markets. In addition, he hopes to develop a policy framework by working with the Federal Reserve, Department of Treasury, Office of the Comptroller of the Currency, and President Joe Biden’s Working Group on Financial Markets. “I’ve suggested that [crypto] platforms and projects come in and talk to us,” said the SEC chair. “Many platforms have dozens or hundreds of tokens on th...
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Gala Games (GALA) rallies 265% shortly after Binance listing announcement

An exchange listing and a foray into NFTs and play-to-earn gaming back GALA’s 270% rally to a new high. Nonfungible tokens (NFTs) and play-to-earn gaming are two of the hottest trends in the crypto sector because each presents new avenues for attracting users and the unique character of each niche allows participants to generate wealth rather than having to spend money to become a part of the community. Gala Games, a blockchain-gaming-focused project that allows users to use their unique NFT characters in gameplay, saw its GALA token etch out significant gains after Binance announced plans to list the GALA token. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $0.021 on Sept. 12, the price of GALA catapulted 270% to an intraday high at $0.077 on Sept. 13 as its 24-hour trading volume skyrocketed. GALA/USDT 4-hour chart. Source: TradingView The sudden burst in trading volume and the price breakout shortly after GALA listed on Binance, a de...
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Elon Musk’s New Puppy Tweet Sends Shiba Floki Token Soaring, FLOKI Jumps More Than 900% in 24 Hours

The CEO of Tesla, Elon Musk shared a picture of a Shiba Inu pup and said “Floki has arrived” to his 59.8 million Twitter followers. Of course, the tweet affected the price of a few specific meme-based crypto assets that leverage the “Floki” name. Shiba Floki Token Soars After Elon Tweets an Image of His New Pup Elon Musk has been a fan of dogecoin (DOGE) for a while now and on a few occasions, the CEO of the electric car manufacturer Tesla has tweeted a reference to other meme-based canine coins in the past. Musk referenced “baby doge” in a tweet and in a video shared on Twitter, Musk said “daddy doge,” while being escorted to his car. At that time, there were more than 30 doge-like coins that either shared the name “doge” or the type of dog “Shiba Inu.” On Sunday, September 12, Elon Musk tweeted about a new puppy arrival and happily tweeted “Floki has arrived.” Now of course, just like his baby doge coin sing-along shared on Twitter in July and the daddy doge video mention , th...
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Sell the news? ADA price drops 10% following Cardano's long-awaited smart contracts rollout

The so-called "Alonzo" upgrade did little in protecting Cardano from falling in tandem with the rest of the cryptocurrency market, though bullish technical factors remain. The price of Cardano ( ADA ) fell on Sept. 13 in line with the other top cryptocurrencies  despite the completion of its hard fork upgrade dubbed "Alonzo," which introduces smart contract functionality. The ADA/USD exchange rate dropped 10.67% to reach its intraday low of $2.3, partly due to profit-taking sentiment among traders following the pair's 1,200%-plus price rally this year. Additionally, the intraday sell-off also surfaced in the period of an overall crypto market decline, with top tokens Bitcoin ( BTC ) and Ether ( ETH ) falling 4% and 6.97%, respectively. Top 10 cryptocurrency tokens and their performance in the last 24 hours. Source: Messari Cardano's drop appeared when its core foundation rolled out a long-awaited smart contracts feature on its public blockchain for t...
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Marvel and DC bar comic book artists from selling superhero NFTs

The comic book publishing giants want to maintain sole control of their intellectual property in the NFT space. Marvel and DC seem to be breaking away from the established tradition of allowing creators and artists to sell original prints of published works due to their reported plans for entry into the nonfungible token (NFT) space. According to Bloomberg, the two comic book staples have barred artists from selling NFTs of the characters they create for the company. Both Marvel and DC reportedly have designs on leveraging their vast collection of comic book art in the expanding NFT scene, potentially a new market for selling collectibles. Indeed, Marvel has already made forays into the NFT space, selling digital collectibles of the Spider-Man character back in August. By preventing artists from selling derivative works based on their comic book creations , the likes of Marvel and DC could be precluding creators from a significant revenue source. Indeed, there has been some con...
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Mining Is Not Banned in Ukraine and Does Not Require Licensing, Key Crypto Advisor Says

The regulatory status of cryptocurrency mining remains somewhat undetermined in Ukraine, even after the recent adoption of the law “On Virtual Assets.” However, albeit unregulated, the minting of digital coins isn’t prohibited either, according to a leading advisor on crypto matters at the Ukrainian parliament. Amendments to Ukraine’s Tax Law to Regulate Accounting for Crypto Mining Entities The mining of digital currencies has remained outside the scope of Ukraine’s newly adopted legislation intended to regulate transactions involving cryptocurrencies in the country. Various accounting aspects pertaining to crypto-related activities, including mining, will be addressed in upcoming amendments to the tax code, an important advisor at the Verkhovna Rada, the Ukrainian parliament, told Forklog. Konstantin Yarmolenko, who heads a team of advisors to the multipartisan Blockchain4Ukraine group of deputies, further remarked that the mining of cryptocurrencies should not be subject to lic...
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How to be a better hodler, explained

Hodling is by no means easy, but there are ways to ensure you don’t act impulsively and let your crypto do the hard work for you. What can hodlers to maximize profits and minimize losses? All of this begins by finding cryptocurrencies that have a long-term future, and a reliable staking platform that you can trust. Locking up your tokens can eliminate some of the mental pressures that are associated with hodling — and give you a way of accruing value in the meantime. UniFarm delivers a guaranteed minimum APY across a number of tokens, and also offer automated diversification for any returns that are accrued. This gives you greater exposure to opportunities in a bull run — and when it comes to a bear market, it ensures that returns are automatically hedged five ways. The platform is expanding to farming pools on more chains, and cross-chain farming is also going to be available within weeks. Support for farming real-world assets is in the pipeline, and some of the biggest names ...
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Major UK hedge fund Brevan Howard launches crypto division

Brevan Howard also hired former CMT Digital CEO Colleen Sullivan to lead private and venture investments in crypto. Brevan Howard, a United Kingdom-based hedge fund, plans to "significantly expand" its cryptocurrency and digital assets, according to a new report from Reuters. Chief Executive Aron Landy, who has been at Brevan's helm since its  co-founder and long-time crypto backer Alan Howard stepped down in 2019, has stated that the firm has a "commitment to rapidly expanding its platform and offerings in cryptocurrencies and digital assets."  Brevan's strategy going forward with crypto is two-pronged. The firm is launching a new business division, "BH Digital," to manage its crypto and digital assets and has also hired CMT Digital Chief Executive Colleen Sullivan to lead private and venture investments in crypto. Sullivan has led CMT Digital – a CMT Group division focused on crypto trading, blockchain investments, and legal/policy engagem...
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