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Showing posts from September 17, 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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Binance Prepares Changes to Work With Regulators Worldwide

Binance, the leading cryptocurrency exchange, has announced it is preparing changes to be able to work with regulators more closely. Its CEO, Changpeng Zhao, stated the company is ready to apply the needed revisions to transform the exchange into a regulated financial institution in the future. This is Binance’s answer to a series of regulatory issues it has been facing with regulators from all over the world. Binance Readies Regulator-Friendly Changes Binance, the world’s biggest cryptocurrency exchange by trade volume, has announced it is preparing changes to better fit the requirements of regulators. The statements were made by Binance’s CEO, Changpeng Zhao, in an interview with the South China Morning Post published on September 16, where he hinted at a change in how the institution will treat regulatory matters. He stated: As we run a centralized exchange , we have come to realize that we need to have a centralized entity to work well with regulators. This is a clear depar...
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NFT-based Fixed Lending Protocol Pledge Backed by Stanford Alumni Announces Successful Fundraise

PRESS RELEASE. Pledge Finance is launching a cross-chain decentralized finance ecosystem, purpose-built for the financial sector following a successful private round in which it raised more than $3 million. Hong Kong – Pledge Finance, an algorithm-driven, multi-chain decentralized finance (DeFi) ecosystem, is announcing the launch of an NFT-powered structured collateralized lending platform targeted at the traditional financial sector. The Binance Smart Chain (BSC) based platform will be fully interoperable with other public chains, meaning other DeFi platforms will be able to interact with Pledge’s numerous product and service offerings. Pledge Bridges the Gap Between DeFi and Finance Pledge Finance will include liquidity pools which will act as money markets so that users can exchange cryptocurrencies without the need for a centralized exchange. The interest rate for staking to provide liquidity to these money markets will be algorithmically fixed and determined by the supply a...
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Fintech Firm Revolut Pays for Dallas-Based Wework Workspace With Bitcoin

The cryptocurrency-infused financial tech company Revolut has announced it has purchased a Wework office with bitcoin. Revolut detailed that the office space in Dallas, Texas will house 300 employees to prepare for the company’s U.S. expansion. Revolut Pays Bitcoin for Wework Property in Texas On September 16, 2021, Revolut, the fintech firm that offers users cryptocurrency services and aims to provide the world with a “global financial superapp” announced a deal with Wework. According to the announcement, Revolut will be leveraging the Wework workspace at 6900 Dallas Parkway in Dallas, Texas. Revolut details that the payment for the workspace was settled in bitcoin ( BTC ). The company said on Thursday: Revolut will also be Wework’s first enterprise member to sign new space using cryptocurrency, specifically bitcoin, as it establishes its largest office yet in the U.S. While the move aims to bolster Revolut’s U.S. expansion, Revolut said it is also introducing a concept called...
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Evolve or die: How smart contracts are shifting the crypto sector’s balance of power

Smart contract capabilities are rendering old-school megalithic crypto projects obsolete as blockchains evolve beyond just being a medium of exchange. One of the familiar themes seen in previous crypto market cycles is the shifting market caps, popularity and ranking of the top 10 projects that see significant gains during bull phases, only to fade into obscurity during the bear markets. For many of these projects, they follow a recognizable boom-to-bust cycle and never return to their previous glory.  During the 2017–2018 bull market and initial coin offering (ICO) boom, which was driven by Ethereum network-based projects, all manner of small smart contract-oriented projects rallied thousands of percentage  to unexpected highs. During this time, projects like Bitcoin Cash ( BCH ), Litecoin ( LTC ), Monero ( XMR ) and ZCash ( ZEC ) also rotated in and out of the top 10 ranking, but to this day, investors still argue about which project actually presents a “useful” use case...
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Bitcoin is 'playing mind games' as its price coils into a tighter range

Analysts highlight the formation of a bull flag on the Bitcoin chart and suggest that the price could continue to consolidate until a major catalyst moves the market. The general mood across the cryptocurrency market is one of anticipation on Sept. 17 as the price of Bitcoin has traded in an increasingly tighter range over the past couple of days and looks to be coiling in preparation for a move one way or another.  Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin ( BTC ) has oscillated between $47,150 and $48,150 in trading on Friday as the lack of any major developments or headline-grabbing stories has led to a relatively flat day in the markets. BTC/USDT 1-day chart. Source: TradingView A recent report from Delphi Digital suggested that last week’s sudden drop in Bitcoin price caught the market off-guard and led to a significant drop in market sentiment from greed to fear, and BTC's price performance over the past week has been been a...
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The Big Three Credit Agencies Critique El Salvador’s Bitcoin Adoption — S&P Global Warns of ‘Immediate Negative Implications’

All of the ‘Big Three’ credit agencies have said that El Salvador’s adoption of bitcoin could affect the country’s credit rating in a negative manner. After both Moody’s and Fitch Ratings published reports on the matter in El Salvador, S&P Global said that the bitcoin adoption has had “immediate negative implications for its credit rating.” S&P Global Joins Fitch Ratings, Moody’s Casting Criticism Down on Salvadoran Bitcoin Adoption On August 17, 2021, Bitcoin.com News reported on Fitch Ratings detailing that El Salvador adopting bitcoin ( BTC ) as a legal currency may push the country toward “regulatory and operating risks.” Moreover, Fitch said that the adoption of bitcoin would negatively affect the insurance system in the Latin American country. Fitch Ratings’ report in August followed Moody’s downgrade in June, after the ‘Big Three’ credit agency dropped the country to a Caa1 from a B3 rating and highlighted a “deterioration in the quality of policymaking.” S&P ...
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John Cena calls his own NFT sales a 'catastrophic failure'

World Wrestling Entertainment offered 500 gold tier packages with Cena's NFT for $1,000, but only a fraction of them sold. Professional wrestler and actor John Cena said fans only purchased 7.4% of his World Wrestling Entertainment, or WWE, non-fungible tokens he made available last month. Speaking at Florida Supercon 2021 on Sept. 12, Cena said it was a mistake to market his WWE NFTs as part of a package with physical collectibles — a hat, shirt, wristbands, belt, towel, autographed picture, and the digital collectible. The organization offered 500 gold tier packages with the NFT for $1,000, but only a fraction of them sold. “I talk a lot about failure — this idea failed,” said Cena. “Myself and the folks in the WWE thought $1,000 was a fair price point. We were wrong. We were absolutely wrong.” He added: “We sold 37 of them. It was a catastrophic failure.” Cena and WWE released two tiers of NFTs for the wrestling star: a 24-hour auction of a “John Cena Platinum NFT” and t...
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Unido – Building the Future of Crypto Custody and Asset Management for Enterprises

As the floodgates are opening for large businesses and corporations to enter the crypto market, you see increasing demand for an established digital asset management platform. Luckily, Unido is among just a few who fits these criteria, but with all the noise in the crypto space now, it is crucial to compare similar products and projects to understand the options and differences between platforms better. Among the very few options today, this article will look at Fireblocks to analyze the different product offerings against the Unido ecosystem. Fireblocks is a digital asset management platform with similar product offerings as Unido, such as Multi Party Computation (MPC), DeFi integration, DeFi APIs, complete control over governance, and a thoroughly robust security system for digital assets. Fireblocks vs. Unido Fireblocks was founded in 2018 and is an end-to-end blockchain security platform that protects, stores, transfers, and issues digital assets to the blockchain/s while usin...
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Finance Redefined: Maverick Vitalik in Time Mag, Sept. 13–17

Vitalik in Top-100 innovators, Cardano’s smart contract launch and carbon NFT’s — all coming to you this week in Finance Redefined. Welcome to the latest edition of Cointelegraph’s decentralized finance, or DeFi, newsletter. Despite Cardano founder Charles Hoskinson's claim that the DeFi space is now “up for grabs,“ it was rival Vitalik Buterin who stole the headlines this week with a feature in Time Magazine. What you’re about to read is the smaller version of this newsletter designed for brevity. For the full version of DeFi’s developments over the last week — released a whole lot quicker than Cardano’s smart contracts — drop your email below. Buterin’s Time to Shine Ethereum founder Vitalik Buterin was listed in Time Magazine’s 100 most influential people of 2021 this week for his distinguished contributions to the growth of the Ethereum network to over $420 billion in market capitalization, as well as fostering the emergence of decentralized apps and nonfungible tokens,...
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Price analysis 9/17: BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, UNI, LUNA

Bitcoin is sustaining above its immediate support, but several altcoins are showing signs of profit-booking. Bitcoin’s ( BTC ) recovery is facing stiff resistance near $48,500, indicating that bears are active at higher levels.  By combining the popular stock-to-flow Bitcoin price model and the illiquid supply data, analyst William Clemente projects $39,000 to act as a strong floor on any declines. On the upside, analysts remain bullish. Bloomberg Intelligence chief analyst Mike McGlone has maintained his target of $100,000 for Bitcoin. McGlone said that a number of different charts underline the bullish potential for Bitcoin. Daily cryptocurrency market performance. Source: Coin360 Along with Bitcoin, Ether (ETH) is also showing signs of accumulation. Crypto analytics provider IntoTheBlock said $1.2 billion worth of Ether was withdrawn within a 24-hour period from centralized exchanges on Sept. 16. After a similar occurrence in April, Ether had rallied about 60% in 30 d...
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After Fed Members Disclose Million-Dollar Stock Trades Fed’s Powell Initiates Ethics Inquiry

The Federal Reserve chairman Jerome Powell has directed his staff to start an ethics inquiry into the financial activities of Fed members, as a number of senior central bank officials are being questioned for their investments. Reports indicated last week that the president of the Dallas Federal Reserve branch, Robert Kaplan, benefitted from “multiple million-dollar-plus stock trades” in 2020. Fed Presidents Profit From Multiple Million-Dollar Stock Deals Members of the Federal Reserve seem to have a mess to deal with as politicians and the media have called out a few members of the Fed for benefitting from major stock deals. Bitcoin.com News has reported on critics looking directly at the Fed’s members and even accusations of Federal Reserve chairman Jerome Powell doing the same thing. Last Tuesday, the Wall Street Journal (WSJ) published an article that revealed Dallas Fed president Robert Kaplan “made multiple million-dollar-plus stock trades in 2020, according to a financial...
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Veteran trader explains when it’s the best time to cash out of the market

Veteran trader Charlie Burton gives tips on how investors can manage their emotions in bull markets and the importance of sticking to a defined set of trading rules. 2021 has been a wild ride for the cryptocurrency market as Bitcoin shocked its naysayers by setting a new record high at $64,863 and the DeFi and NFT sector made headlines around the world.  It's times like these that crypto traders need to be wary because the notoriously volatile nature of the cryptocurrency market can see vast fortunes wiped out in a matter of hours or days once the trend shifts. According to Charlie Burton, veteran trader and the co-founder of Ezeetrader, this is when it is important for every trader to have a defined set of rules that they stick to when emotions begin to run hot because “we are all fallible, flawed human beings, especially in front of the markets.” Burton said, “We are naturally influenced by greed or fear to one propensity or another. So we absolutely need to have some simpl...
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Texas and New Jersey regulators go after Celsius Network

"Companies dealing in cryptocurrencies are not immune from oversight,” said New Jersey’s acting attorney general Andrew Bruck. The Texas State Securities Board has filed for a hearing with the potential to impose a cease and desist order against crypto lending firm Celsius Network for not offering security licensed at the state or federal level, while the New Jersey Bureau of Securities has ordered the platform to stop offering and selling interest-earning cryptocurrency products. According to a Sept. 17 filing, the Texas regulator will be holding a hearing related to allegations thaCelsius Network is offering and selling securities in Texas that are not registered or permitted in addition to not registering as a dealer under the state’s Securities Act. Should the judge accept that the platform’s offerings represented unlicensed securities, Celsius Network may be subject to a cease and desist order. On the same day, the New Jersey Bureau of Securities announced that it had i...
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Former chief of Russia's Wex crypto exchange arrested in Poland

The exchange was previously known as BTC-e, though its name was changed to WEX following legal difficulties in 2017. BBC Russia has reported that Dmitry Vasiliev, the former chief of Russian cryptocurrency exchange Wex, has been arrested in Warsaw, Poland. Wex, which was previously known as BTC-e, was a well known "dark" exchange in the early days of the cryptocurrency industry. It is alleged to have laundered funds for numerous high profile crypto hacks, including the notorious Mt. Gox incident. Although Vasiliev is regarded as innocent within Poland's jurisdiction, other countries such as Kazakhstan have an open fraud case against the elusive figure, and as such have reportedly engaged in discussions surrounding the possibility of extradition to the country. It is understood that Vasiliev was detained on the 11th August by Polish authorities, but the news has only today been uncovered by Polish newspaper Wyborcza. Vasiliev allegedly facilitated trades for Chinese...
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