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Showing posts from September 20, 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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Fed’s Powell Scrutinized for Owning Bonds of the Same Type the Central Bank Bought During Pandemic

As a number of Federal Reserve presidents have been criticized for their 2020 stock moves, Fed chairman Jerome Powell has been cast into the limelight for owning $1.5 million municipal bonds like the ones the U.S. central bank purchased in 2020 during the pandemic. All Eyes Are On Jerome Powell’s Municipal Bond Portfolio Three days ago, the topic of senior Federal Reserve members making multi-million-dollar stock deals in 2020 caused senator Elizabeth Warren to write a letter criticizing the bank member’s ethics, and chairman Jerome Powell said he would initiate an ethics inquiry. However, not too long after the media grilled U.S. central bankers for their behavior, reports disclosed that the Federal Reserve’s chairman owned a few types of municipal bonds, similar to the ones the Fed bailed out during the coronavirus crisis. It’s also not the first time Jerome Powell’s portfolio has come under inquisition from the public. Wallstreetonparade.com journalists Pam Martens and Russ Ma...
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Top Brazilian investment bank BTG Pactual launches crypto trading app

Initially supporting BTC and ETH only, BTG Pactual’s new crypto trading platform plans to allow its users to trade a wide range of altcoins. Leading Brazilian investment bank BTG Pactual has launched a new platform enabling customers to make direct investments in cryptocurrencies. The bank’s Mynt platform currently allows users to purchase Bitcoin and Ether, with BTG Pactual expressing its intention to launch support for additional crypto assets in the future. Andre Porthilo, BTG Pactual’s head of digital assets, stated : “At this first moment, we will have the two main assets of the market, but we will include other cryptos for trading over time. We will have a complete platform with blockchain-based assets." BTG Pactual CEO, Roberto Sallouti, described Mynt's creation as being in response to “demand from our customers who wish to trade crypto.” Sallouti added that Mynt plans to host education content designed to inform new users about cryptocurrencies and blockchain te...
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Miners have accumulated $600M worth of Bitcoin since Feb

Bitcoin miners appear reluctant to sell their BTC as hashrate increases despite the recent sell-off. Bitcoin miner are accumulating as the network hash rate continues to recover according to on-chain analytics provider Glassnode. In its Sept. 20 Week on Chain report , glassnode has stated that miner BTC balances are increasing, with wallets associated with miners having stockpiled 14,000 BTC worth roughly $600 million over the past six and a half months. The report also noted that the bull markets of 2020 and 2021 have seen miners hold onto a larger portion of their rewards than in previous market cycles. Miners usually sell BTC to cover their expenses including electricity bills and hardware. Bitcoin miner unspent supply: Glassnode The trend of miner accumulation continued as the Bitcoin network’s hash rate recovered this past quarter. Amid speculation regarding a wholesale Chinese miner exodus , Glasnnode reported that Bitcoin’s hashing power had slumped 51% to a local low ...
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Own NFT Land in ERTHA Metaverse and Generate Lifetime Revenue

ERTHA metaverse is Heroes of Might and Magic game-type inspired economic and social life built on a binance smart chain to explore and investigate the world by choosing specializations and increasing the strength of your NFT and country. Ertha’s globe consists of 350,000 HEX land plots, represented as NFTs. By owning a HEX land plot, you will get a cash-back for every transaction as a landowner. The game is designed to replicate a real-life environment, simulating the actions that people have to perform in order to earn a living.   ERTHA is created to inspire economic and social growth, to investigate the new world, level up and engage in the NFT market. ERTHA’s Alfa took 17,000+ Code commits and 30,000 hours of writing program code to develop. Map of ERTHA is divided by NFT hexagons – players are free to choose where to live, study or work & earn tokens. ERTHA land HEX is an extremely valuable NFT – dozens of companies & players paying taxes. Territorial disput...
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Robinhood users may soon be able to withdraw crypto for the first time

Robinhood is reportedly testing a new crypto wallet feature that would finally enable users to withdraw crypto from its app. Retail-trading platform Robinhood is reportedly testing a long-awaited digital wallet feature that enables users to send and receive crypto-assets such as Bitcoin ( BTC ). Bloomberg reported the rumor on Sept. 21, with the publication claiming to have seen screenshots of a withdrawal interface in a beta version of the wallet feature in Robinhood’s IOS app. While details are sparse, Bloomberg also claims to have seen a waitlist where users will be able to sign up for the new digital asset wallet. “The app also has code referring to cryptocurrency transfers,” the report added. Robinhood users are currently only able to buy crypto with US dollars and trade digital assets on the platform, as the app does not support crypto deposits and withdrawals. Robinhood’s crypto traders have long badgered the company to introduce deposit and withdrawal functionality for d...
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60 Cryptocurrency Exchanges in South Korea to Shut Down All or Some Services This Week

The deadline for cryptocurrency exchanges and wallet operators to comply with the new regulatory requirements to stay open in South Korea is this week. So far, only one crypto exchange has been licensed to continue operations. About 60 crypto exchanges are expected to either shut down or reduce services. 60 Crypto Exchanges Expected to Shut Down or Reduce Services Under the “Act on the Reporting and Use of Specific Financial Transaction Information (Special Act),” crypto exchanges must be Information Security Management System (ISMS)-certified and register with the South Korean Financial Intelligence Unit (FIU) by Sept. 24. Crypto exchanges that fail to do either must cease operations on that date. According to local media, 34 exchanges have not received ISMS certification, so they are expected to shut down entirely on Sept. 24. A total of 29 crypto exchanges have been ISMS-certified but only one has successfully registered with the FIU, a unit of the Financial Services Commission...
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Senator Warren’s office confuses MakerDAO for failed 2016 project The DAO

Elizabeth Warren’s office has allegedly confused top 10 DeFi protocol MakerDAO with an early experiment in decentralized autonomous organizations that failed in 2016. Recent dialogue between MakerDAO developers and the office of anti-crypto Senator Elizabeth Warren’s has revealed a concerning lack of familiarity with the current decentralized finance (DeFi) ecosystem. On Sept. 20, a screenshot began circulating on social media appearing to show dialogue between members of the MakerDAO community discussing the conclusions from a recent meeting between representatives of the project and the office of Senator Warren. In the screenshot, pseudonymous MakerDAO Governance delegate “PaperImperium” claims to have spent much of the time convincing Warren that Maker is not the same project as The DAO — an infamous early experiment in decentralized autonomy organizations (DAOs) that suffered a major hack before failing in 2016. MakerDAO delegate @ImperiumPaper and @SenWarren meeting highli...
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Solana attributes major outage to denial-of-service attack targeting DEX offering

The Solana Foundation says bots spammed the Grape Protocol IDO on Raydium with 400,000 transactions per second, bringing the network to its knees. Solana has attributed the 17-hour outage it suffered last week to a denial-of-service attack aimed at Grape Protocol’s Sept. 14 initial DEX offering (IDO). In a Sept. 21 blog post , the Solana Foundation stated that bots spammed the network as Grape launched its IDO on the Solana-based decentralized exchange (DEX) Raydium at 12:00 UTC last Tuesday. The botting activity overwhelmed the network with a transaction load of 400,000 per second, with Solana noting that “unbounded growth of the forwarder queues and resource-heavy blocks” resulted in a number of forks being automatically proposed to the network. The attack caused Solana’s network’s validators to crash after running out of memory. As a result the network went offline for roughly 17 hours during Sept. 14 and Sept. 15. The recovery was led in collaboration between Solana enginee...
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Turkey Is ‘at War’ With Cryptocurrency, Says President Erdogan

Turkish President Recep Tayyip Erdoğan has clarified the government’s stance on cryptocurrencies, stating that the country is at war with crypto. He emphasized that Turkey will continue with its own currency. A War and a Struggle Against Cryptocurrency Turkish President Recep Tayyip Erdoğan answered some questions from young people in the “Meeting with Youth” program held with university students from 81 provinces. The event took place in Mersin, a port city in southern Turkey and an important hub of the country’s economy. A young man in the audience asked President Erdoğan: “My question is about cryptocurrency. Recently, the central bank established a digital Turkish lira platform . With this decision, is Turkey planning to open up to cryptocurrencies? … We are curious about your ideas on this matter.” Noting that it is not their intention to open up to cryptocurrencies, Erdoğan clarified: On the contrary, we have a separate war, a separate struggle against them. He clarified...
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Data shows parabolic-style growth in layer-2-based DeFi and DEX platforms

Layer-2-based DeFi and DEX platforms have seen an incredible surge in user activity, revenue and total value locked since the launch of Arbitrum and Avalanche’s cross-chain bridge. In the increasingly competitive landscape of blockchain technology and cryptocurrencies, protocol innovation and the ability to solve the biggest problems facing the crypto community are necessary for any project that looks to have long-term success in the ecosystem.  Recently, the emergence of layer-2 technology like Arbitrum, Optimism and a bridge to the Avalanche ecosystem is revolutionizing the way investors, builders and developers interact with various protocols because each facilitates fast, low-cost transactions that improve the fundamentals of the decentralized finance (DeFi) ecosystem while also making it easier for retail-sized investors to capitalize on opportunities. According to data from Token Terminal, DeFi continues to be one of the fastest-growing sectors of the crypto economy...
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Korean Province Seizes Cryptocurrencies From 1,661 Investors for Unpaid Fines

A South Korean province has seized cryptocurrencies worth over $5 million from 1,661 investors who were more than $12 million in arrears on their fines in total. The seizure followed an investigation of nearly 30,000 companies and individuals as well as their cryptocurrency holdings at four exchanges. Korean Province Confiscates Cryptocurrencies for Unpaid Fines The South Korean province of Gyeonggi, the most populous province in the country, announced last week that it had seized 6.1 billion won ($5.14 million) in cryptocurrencies from 1,661 people who were 14.4 billion won in arrears on their fines in total. The authorities explained that from May to August last year, they conducted an investigation of 29,656 companies and individuals who were delinquent on their payments of 1 million won or more under the category of “nontaxable income.” This includes examining their cryptocurrency holdings at four exchanges. Nontaxable income in South Korea refers to income imposed and collect...
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Traders buy the Bitcoin dip even as Evergrande's implosion rocks stock markets

The Evergrande fiasco appears to be driving the correction in global stock markets, but data shows this isn't deterring pro traders from buying the BTC dip. Bitcoin ( BTC ) investors seem concerned about the increasing speculation that China's second-largest property developer, Evergrande Group , will default on its $300 billion in debts. These fears manifest in global equities markets which saw a 1.5% to 3% drop at this morning's market open.  Despite the price move, the BTC outflow (net withdrawals) from exchanges has continued a multi-month trend, particularly on Coinbase Pro. Traders also know that every exchange has a different user profile. For example, liquidations on Bybit tend to be more extreme when compared to FTX, which is known for having more conservative clients. Take, for example, today's drop below $43,000, which caused a $1 billion long contracts liquidation led by Bybit even though there was $2.34 billion in futures open interest. This number is...
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Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
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Texas following El Salvador? Poll shows 37% of residents want crypto payments

Two pieces of legislation related to cryptocurrencies recently took effect in the state, and many businesses already accept digital payments. A new poll from Newsweek suggests that as many as 10.8 million Texans may support legislation that makes cryptocurrency legal in the next election. According to a Sept. 20 report, a Newsweek poll that surveyed more than 9,700 eligible voters across ten U.S. states suggested that 37% of Texas residents would vote in favor of a ballot measure to make crypto legal, while 42% said they would support crypto-friendly legislation similar to that in Wyoming. With a population of roughly 29 million people as of 2021, Texas could have more than 10 million residents supporting the adoption of cryptocurrencies. The results of the poll, conducted by United Kingdom-based firm Redfield & Wilton Strategies between Aug. 20 and 24, came prior to two pieces of crypto legislation taking effect in Texas . The state’s House Bills 1576 and 4474, respectively, ...
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Bitcoin.com Wallet Adds ERC-20 Tokens

The Bitcoin.com Team is excited to announce the integration of ERC-20 tokens into the Bitcoin.com Wallet . That means anyone can now buy, sell, receive, store, trade, and send ERC-20 tokens with the convenience and security of the industry’s most user-friendly non-custodial wallet . ERC-20 Tokens? ERC-20 is the standard protocol for creating tokens on the Ethereum blockchain. There are over 450,000 sets of ERC-20 tokens as of 2021 and they collectively represent hundreds of billions of dollars in value. All ERC-20 tokens “live” on Ethereum, meaning they benefit from the security of the second-largest blockchain by marketcap and are composable with smart contracts . Curated ERC-20 Support Any and all Ethereum-compatible tokens sent to your Bitcoin.com Wallet’s Ethereum addresses are safe and secure. However, since there are hundreds of thousands of ERC-20 tokens out there, it’s not practical to display them all in the Wallet. That’s why we’re starting off by ‘tracking’ a...
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Stock sell-off tanks Bitcoin price, but traders expect a bounce near $42K

Fear over the Evergrande situation weighed heavily on equities markets and Bitcoin price, leading traders to expect a bounce in the $42,000 to $38,000 zone. The cryptocurrency market faced a fresh round of selling on Sept. 20 as global financial markets fell under pressure thanks to fears surrounding the potential default of  Evergrande Group , a China-based real estate company whose collapse could send ripples across equities markets.  Data from Cointelegraph Markets Pro and TradingView shows that the early morning sell-off in Bitcoin ( BTC ) intensified into midday as the price dropped to a low of $42,493 before bulls managed to bid it back above $43,500. BTC/USDT 4-hour chart. Source: TradingView With fear on the rise and uncertainty spreading across the market, here’s what analysts are saying about Monday’s price move and what to expect in the days ahead. The bearish reversal provided a warning Bitcoin’s price drop caught many in the crypto market off guar...
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Institutional investors increase their crypto holdings for 5th straight week

Despite the recent selloff in the crypto markets, institutional managers have been quietly turning bullish over the past month. Cryptocurrency assets held by institutional managers rose for a fifth consecutive week, a sign that market participants had once again flipped bullish on Bitcoin ( BTC ) and the leading altcoins.  Investment flows into crypto products totaled $42 million in the week ending on Sept. 19, with Bitcoin funds seeing inflows of $15 million, according to digital asset manager CoinShares. That’s only the third time in 16 weeks that BTC investment products saw positive inflows. All major assets registered a weekly increase, with investors buying up $6.6 million worth of Ether ( ETH ) products and $3.7 million worth of multi-asset funds. Investors also allocated $4.8 million towards Solana (SOL), disregarding a denial-of-service disruption earlier this week as a result of network congestion. In terms of actual products, 21Shares registered the largest weekly i...
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Evergrande Losses Sparks Fear of Looming Credit Contagion, Janet Yellen Asks to Raise US Debt Ceiling

Global investors have their eyes peeled on the Evergrande Group or the Evergrande Real Estate Group, China’s second-largest property developer by sales. Evergrande Group shares nosedived on Monday dropping to 11-year lows and many analysts and economists are concerned about a possible credit contagion. Credit problems with China’s real estate industry have affected global markets a great deal as European and U.S. stocks have slid during Asia’s overnight. Evergrande Group’s Counterparty Risk and Liquidity Shocks Could Spark a Credit Contagion on a Global Level Many people woke to the news of China’s Evergrande Group losing a significant amount of its market capitalization as the company’s shares dive-bombed to an 11-year low. While Evergrande losses can’t take down the economy alone, but it could cause a domino effect like the collapse of Lehman Brothers did during the 2007-2010 financial crisis. The domino effect is called a “credit contagion” and signs of this occurring are alrea...
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Price analysis 9/20: BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, UNI, AVAX

Bitcoin and most major altcoins have dropped to their critical support levels, which is likely to attract strong buying from the bulls. The crypto markets and the U.S. equity markets sold off today on fears that the collapse of Chinese property giant Evergrande could not only hurt China but also have wider implications in other markets. When the sentiment is bearish, traders dump positions that they perceive as risky in favor of safe-haven trades. This could be one of the reasons for the sharp fall in Bitcoin ( BTC ) and most major altcoins today. Daily cryptocurrency market performance. Source: Coin360 Data from Bybt shows that Bitcoin held in Binance wallets has surged by 29,717 Bitcoin in the past 30 days. History suggests that an increase in the Bitcoin balance on Binance has resulted in a drop in Bitcoin’s price. The Bitcoin balance on Binance rose from 99,700 BTC on April 20 to 347,590 BTC on June 26. During this period, Bitcoin’s price plunged from about $57,000 to ro...
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