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Showing posts from September 22, 2021

Dogecoin more popular than ever ... even as TXs hit lowest level since 2017

AMC CEO Adam Aron has stated that the cinema giant will look to support Dogecoin movie ticket payments by the end of 2021, and real estate tokenization platform RedSwan is accepting DOGE too. The power of the Dogecoin meme is strong despite transaction levels of DOGE hitting the lowest they've been since 2017. Multiple firms have made DOGE adoption plays this week including Robinhood which confirmed that it will roll out a new crypto wallet feature on its app next month supporting DOGE deposits and withdrawals.The memecoin’s co-creator Billy Markus (who no longer works on the project) stated via Twitter earlier today: “Okay we are allowed to overreact now Robinhood wallets is huge news for Dogecoin - it opens up so many users to the real utility of cryptocurrency!” Buy $384M in real estate with DOGE On Sept. 22 commercial real estate tokenization platform RedSwan announced that it will accept Dogecoin for two digital real estate deals on its marketplace. The firm is offer...

Genesis Digital Assets Reveals $431 Million Capital Raise — Mining Firm Aims for 1.4 Gigawatts by 2023

On Tuesday, the bitcoin mining firm Genesis Digital Assets announced the firm raised $431 million from strategic investors. The mining company Genesis detailed that Paradigm led the multi-million-dollar funding round and one of the firm’s co-founders has joined Genesis’s board of directors. Genesis Digital Assets to Bolster Bitcoin Mining Operations in the US and Nordics The industrial-scale bitcoin mining company, Genesis Digital Assets, revealed the firm has raised $431 million in a recent financing round. The funding was led by the company Paradigm but also included participation from firms like NYDIG, Stoneridge, FTX, Ribbit, Electric Capital, Skybridge, and Kingsway Capital. Matt Huang, the Paradigm co-founder and managing partner of Paradigm explained during the announcement that he will join the Genesis Digital Assets (GDA) board. “Over nearly a decade, GDA’s team have built what we regard as the most impressive bitcoin mining operation in the world,” Huang said in a statem...

Almost half of crypto owners turn to celebs like Kim Kardashian for advice: Survey

A surprisingly large proportion of crypto owners report they would purchase a crypo asset because it is endorsed by a celebrity or influencer. A new survey has revealed bleak insights into the apparent willingness of retail investors to follow digital asset advice from the social media accounts of celebrities and influencers. According to a Morning Consultant survey of 2,200 U.S. adults, 45% of crypto-holding respondents indicated they would be likely to seek exposure to a digital asset if it is endorsed by a celebrity, compared to just 20% of participants overall. There were some more promising results, with three-quarters of crypto investors indicating they were likely to invest based on a family member or friend’s recommendation while 81% would invest in response to advice from a financial advisor. Almost 20% of all respondents and nearly one third of crypto owners said they were aware of a post published to Kim Kardashian’s Instagram account spruiking the ERC-20 token Ethereu...

Sports NFT gold rush as projects raise $930 million in a week

Following the $250 million funding round, Dapper Labs intends to launch more licensed collectibles in music, entertainment and other sports codes. Tokenized sport collectibles projects have raised almost $1 billion in funding in the space of a week. On Sept. 22 Dapper Labs — the firm behind the Flow blockchain and the widely popular tokenized basketball collectibles, NBA TopShot — announced a further $250 million in a funding round led by tech-focused hedge fund Coatue. As reported by Cointelegraph on Wednesday, French-based NFT soccer trading card game developer Sorare raised $680 million in Series B funding led by Japanese fintech giant Softbank. The funding round raised the valuation of the firm to $4.3 billion. The combined funding for the two firms tally’s in at $930 million, marking a significant bet on the sports token sector at a time when some pundits are calling the wider nonfungible market dead due to declining sales volume and floor prices. Dapper Labs The latest...

Mad Money Jim Cramer ‘Begs’ Crypto Investors to Take Profits — Says ‘I Don’t Want You to Lose Money’

The host of Mad Money, Jim Cramer, is begging crypto investors to take profits on any crypto gains in their portfolios. “I’m begging you to. Don’t let it become a loss,” he said, emphasizing, “I don’t want you to lose money.” Mad Money’s Jim Cramer Advises Investors to Take Profits on Crypto Gains The host of CNBC’s Mad Money show, Jim Cramer, said Monday that cryptocurrency investors should take profits on their crypto holdings if they have any gains in their portfolios. A former hedge fund manager, Cramer co-founded Thestreet.com, a financial news and literacy website. He said: I know the crypto-lovers never want to hear me say sell, but if you’ve got a big gain as I did, well, I’m begging you to. Don’t let it become a loss. Sell some, stay long the rest, then let’s wait and see if China changes its attitude toward an Evergrande bailout. Cramer warned that the struggles of Evergrande, a major property developer in China, are likely to keep weighing on crypto markets. Evergra...

Biden to nominate anti-crypto and anti-big bank law professor to run the OCC

Omarova has stated she hopes to “end banking as we know it” but believes large financial firms can abuse the crypto market outside of regulators’ view. The Biden administration reportedly intends to nominate Kazakhstani-American attorney, academic and former policy advisor Saule Omarova to head the Office of the Comptroller of the Currency (OCC) — the institution that oversees the U.S. banking sector. Omarova has levied criticisms at both crypto assets and the legacy banking sector in the past, having once pledged to “end banking as we know it”. She has characterized cryptocurrency as “benefiting mainly the dysfunctional financial system we already have.” According to a Sept. 22 report from Bloomberg citing three anonymous sources “familiar with the nomination process,” Omarova could be nominated as soon as this week. Currently working as a law professor at Cornell University Law School, Omarova is expected to seek tighter regulations for crypto as she has described the sector a...

US Treasury Targets Crypto Exchanges in Whole-of-Government Effort to Counter Ransomware

The U.S. Department of the Treasury has taken actions targeting cryptocurrency exchanges “responsible for laundering ransoms” as part of the whole-of-government effort to counter ransomware. One cryptocurrency exchange has already been sanctioned along with related crypto addresses. “We will continue to crack down on malicious actors,” said Treasury Secretary Janet Yellen. US Government Targets Crypto Exchanges in Ransomware Fight The U.S. Treasury Department announced a set of actions to counter ransomware Tuesday, which include the publication of an updated advisory on ransomware and the addition of entities to the Office of Foreign Assets Control (OFAC)’s list of Specially Designated Nationals. The Department of the Treasury declared: As part of the whole-of-government effort to counter ransomware, the U.S. Department of the Treasury today announced a set of actions focused on disrupting criminal networks and virtual currency exchanges responsible for laundering ransoms. T...

Crypto asset manager Cobo raises $40M to launch DeFi-as-a-service

Despite a blanket ban in China and regulatory crackdowns on exchanges in Korea, Asia remains a hotbed for crypto investments. Digital asset manager Cobo has raised $40 million to advance institutional pathways to decentralized finance products, offering compelling evidence that more Asia-Pacific investors are seeking secure access to the DeFi market. The Series B financing will be used by Cobo to develop the first DeFi-as-a-service, or DaaS, infrastructure, which allows institutions and their customers to access decentralized finance products in a compliant manner, the company announced Wednesday. Specifically, the capital will be deployed to acquire regulatory licenses and ensure that anti-money laundering guidelines are followed on all products. Cobo further explained that DaaS gives institutions more secure exposure to DeFi smart contracts without the need to understand market complexities. The investment round, which was led by DST Global, A&T Capital and ...

AMC Theatres Explores Accepting Dogecoin: CEO Fascinated by DOGE Poll Results

AMC Theatres chain is exploring how to accept dogecoin alongside four other cryptocurrencies. AMC’s CEO conducted a poll on Twitter and was overwhelmed by the results and enthusiasm of the dogecoin community. “It’s clear that you think AMC should accept dogecoin. Now we need to figure out how to do that,” he said. AMC Considers Adding Dogecoin to List of Accepted Cryptocurrencies Following the announcement that AMC Entertainment Holdings Inc. will accept bitcoin, bitcoin cash, litecoin, and ether for payments, CEO Adam Aron set up a poll on Twitter to ask the crypto community if his company should also accept the popular meme cryptocurrency dogecoin (DOGE). AMC Entertainment Holdings is the largest movie exhibition company in the U.S., Europe, and the world. As of March 31, AMC owned or operated approximately 950 theaters and 10,500 screens globally. Aron tweeted Tuesday: I sincerely want to hear your opinion, via this Twitter Poll. By year-end 2021, AMC will take bitcoin, ethe...

Here’s why Avalanche, OriginTrail and Coti hardly budged as Bitcoin fell to $40K

Market corrections are scary, but savvy altcoin traders also know it is an opportunity to secure hefty gains — here’s how. Admittedly, the last few days have not been not the most pleasant time for crypto traders as the price of Bitcoin (BTC) price fell short of breaking the $50,000 threshold, then slid to the low-$40,000 range and pulled the majority of altcoins down with it. Despite this sharp downturn, a handful of tokens seemed to do much better than the rest of the market by posting weekly gains in their BTC and U.S. dollar-denominated pairs. Some traders looking to rack up their Bitcoin holdings cannot be bothered to follow an altcoins’ price dynamics against the dollar. For them, BTC slumps like the recent one can be seen as a profit opportunity, but how does one tell what coins are likely to perform well when BTC is on its way down? AVAX: Powered by the news Avalanche (AVAX) has added 28.19% in its dollar pair and 43.46% against BTC over the past week. Furthermore, on Sep...

Ripple is helping Bhutan pilot a CBDC

The company claimed its CBDC solution would allow Bhutan's central bank to deploy a digital ngultrum "without compromising financial stability or monetary policy objectives.” The Royal Monetary Authority of Bhutan is partnering with Ripple to pilot a central bank digital currency in the mountainous kingdom. In a Wednesday announcement, Ripple Labs said Bhutan’s central bank would be taking advantage of the company’s private ledger to issue and manage a digital ngultrum. According to Ripple, the move was motivated by the Royal Monetary Authority’s, or RMA’s, effort to improve cross-border payments, expand financial inclusion for its residents, and “extend its commitment to sustainability as the only carbon-negative country in the world.” With a population of roughly 800,000, Bhutan’s gross domestic product amounted to $2.5 billion in 2020. Although many news outlets report on the country’s "gross national happiness” as an alternative to traditional finance, thousands ...

NFT project partners with Afghanistan organization to help women get access to education

“This is a generation that grew up hopeful and dreaming about their future through educational opportunities,” said Women for Afghan Women’s U.S. country director Naheed Samadi Bahram. Non-fungible token company Bookblocks.io has partnered with a New York-based organization to help women in Afghanistan have access to education amid the Taliban takeover. Bookblocks.io announced it would be releasing a non-fungible token, or NFT, on Oct. 5 with the proceeds given to Women for Afghan Women, an organization which helps provide women access to education and vocational training in both Afghanistan and the United States. The artwork, inspired by American author Louisa May Alcott, features half a woman’s face covered by a single butterfly wing with the quote “nothing is impossible to a determined woman.” When the Taliban took control of Afghanistan in the 1990s, they banned education for almost all women and girls. History has practically repeated itself as the extremist Islamist group sei...

Alchemy Pay Using Chainlink to Enable Trading on Decentralized Exchanges and Borrowing in DeFi Using ACH

PRESS RELEASE. Singapore, September 22 , 2021 – Alchemy Pay is now using Chainlink Price Feeds to enable users to buy crypto on decentralized exchanges (DEXs) and obtain loans in leading DeFi lending platforms directly from wallets using Alchemy Pay’s ERC-20 utility token, ACH. Chainlink Price Feeds help assure users that they are receiving fair market exchange rates when purchasing assets directly via their wallets on DEXs like Uniswap, Sushiswap, and ForTube using their ACH, as well as when collateralizing DeFi loans with ACH. “It is crucial to the success of our payment gateway solution that the value of ACH is accurately shared throughout the ecosystem,” said Alchemy Pay CEO, John Tan. “The accuracy of Chainlink Price Feeds is underpinned by the robust technology Chainlink has deployed to protect against downtime and manipulation.” Since the price of assets is not a data feed inherently available on the blockchain, a solution is needed to fetch it off the blockchain (off-cha...

Wallstreetbets Founder Jaime Rogozinski and Wsbdapp Project Launch 15,000 Generative NFTs

On September 22, the team behind the Wallstreetbets defi application called Wsbdapp announced the launch of a non-fungible token (NFT) collection featuring 15,000 generative NFTs. According to the team, the NFTs provide utility like VIP access to special metaverse events and yield farming boosts. Wsbdapp Project Launches NFT Collection During the first week of September, Bitcoin.com News reported on the Wallstreetbets’ ( wsbdapp ) platform, which allows users to transact with decentralized finance (defi) protocols like a decentralized exchange (dex). The project partnered with the defi project Balancer a few days later and this week, the Wallstreetbets (WSB) defi project has launched a collection of non-fungible tokens (NFTs). Jaime Rogozinski, the founder of WSB and strategic partner of the Wsbdapp project details for quite some time WSB memes were given out to the public free of charge. “The Wallstreetbets community has been giving out memes for free for too long; Apple shoul...

Crypto markets soar after Fed commits to printing and Evergrande plans to pay its debt

The crypto market staged a roaring comeback after Evergrande makes a deal to pay its debts and the Fed signals a continuation of its current monetary policy. The cryptocurrency ecosystem is showing signs of a recovery on Sept. 22 following a 48-hours corrective stint which saw Bitcoin and altcoins sell-off to their swing lows. Equities and crypto investors were clearly worried about the possible bankruptcy of China’s Evergrande real estate firm and many feared that the possible default could spark a global decline in financial markets. These concerns were temporarily put to rest after the real estate firm was able to come to an agreement with bondholders and technically avoid defaulting on its obligations and this helped spark a recovery across the cryptocurrency market that lifted Bitcoin ( BTC ) to a daily high at $44,000. Data from Cointelegraph Markets Pro and TradingView shows that since reaching a low of $39,572 on the evening hours of Sept. 21, Bitcoin price rebounded by 1...

Snoop Dogg Reveals Rapper Is a Crypto Whale With Millions of Dollars in NFTs

This year a great deal of popular hip-hop superstars like Eminem, Jay-Z, Ja Rule, Lil Pump, and many more have been getting into the non-fungible token (NFT) collectibles scene. On Monday, the American rapper Snoop Dogg revealed that he is an avid collector of NFTs. Snoop claims to be a pseudonymous Twitter account dubbed “Cozomo de’ Medici,” an online character known to hold millions of dollars in NFTs. Snoop Reveals His Pseudonymous Twitter Account This past Monday, Snoop Dogg revealed on Twitter that he is “ Cozomo de’ Medici ” an NFT collector that joined Opensea.io in August and also started a Twitter account the same month. The wallet on Opensea owns close to $17 million worth of non-fungible tokens from various NFT collections like Cryptopunks, Cosmoflowers, and Snoop Dogg cash. At the time of writing, Cozomo’s Opensea account has approximately 207 NFTs. Cozomo’s NFT account purchases NFTs regularly and the account has a variety of different kinds of digital collectibles. T...

Price analysis 9/22: BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, AVAX, UNI

Positive news about China’s Evergrande meltdown and the Fed’s intent to continue its current monetary policy catalyzed a strong recovery in the price of Bitcoin and altcoins. The crypto markets and U.S. equity markets are attempting a recovery today as fears of a widespread contagion due to Chinese developer Evergrande defaulting on its debt recede. Bridgewater Associates co-chairman and co-chief investment office Ray Dalio said on Wednesday that Evergrande’s debt was “manageable.” Ming Tan, a director at the credit rating agency Standard & Poor’s, said that the Chinese government may step in and restructure Evergrande . The Crypto Fear & Greed Index had plunged to 21 levels, indicating extreme fear among investors. However, while speaking on CNBC, Galaxy Digital CEO Mike Novogratz said that the crypto markets remain in good shape as long as Bitcoin ( BTC ) sustains above $40,000 and Ether ( ETH ) stays above $2,800. Daily cryptocurrency market performance. Source: ...

54% of Salvadorans are not familiar with Bitcoin, survey suggests

A new survey suggests that most Salvadorans still don't have a clear understanding of Bitcoin or crypto. El Salvador has made global headlines with its president's controversial introduction of Bitcoin ( BTC ) as legal tender – a move that has sparked dissent from many local citizens and was met with skepticism by the International Monetary Fund. A new survey suggests that despite these developments, most El Salvadoreans still know little about the veteran cryptocurrency and even less about its smaller-market cap counterparts. Research conducted by the São Paulo-based agency Sherlock Communications suggests that 54% of Salvadoran respondents chose ‘none’ when asked which cryptocurrency they knew best out of a list of five leading coins. While 40% chose Bitcoin over the other listed cryptos – Ether ( ETH ), Bitcoin, Dogecoin ( DOGE )and EOS – the survey did not seek to probe the level or depth of the knowledge these respondents have of the coin. In correspondence with Co...

NFTs could mark a resurgence in art galleries

Cointelegraph spoke to the founder of a London art gallery to discuss the cultural implications of welcoming NFTs into traditional art spaces. For decades, art galleries and museum exhibitions around the world have facilitated the presence of cultural education, social interaction and visual moments of awe. Michelangelo's Sistine Chapel, Georgia O'Keeffe's Black Iris III and Picasso's Weeping Woman have all inspired generations of art-lovers in their own pursuits of life, creative or else. However, since the turn of the century — grossly impacted by seismic shifts in digital behaviors, economic uncertainties and enduring complaints of exclusivity — art galleries have seemingly depreciated in societal appeal. A piece by Arts Professional in late-2017 exposed the decline in visitor numbers to London’s most prominent art attractions, a damning paradox to the year’s record tourism to the city. After last year’s pandemic victimized the human convergence to physical ...

SEC registrants seek DeFi and physically-backed Bitcoin ETF approval

Amplify ETFs, Invesco and Galaxy submitted registrations to the U.S. SEC for Bitcoin and DeFi-based ETF offerings. Crypto companies from the United States filed two registration statements with the Securities and Exchange Commission (SEC) seeking permission to sell exchange-traded funds (ETF) in relation to Bitcoin ( BTC ) and decentralized finance (DeFi). An Atlanta-based investment company, Invesco joined New York’s Galaxy Digital Funds to file and register Invesco Galaxy Bitcoin ETF, a trust with physically protected private keys. Illinois-based Amplify ETFs filed the second registration for adding DeFi centric open-end EFT funds offering to the Amplify ETF Trust. If approved by the SEC, the Invesco Galaxy Bitcoin ETF will be registered as a securities offering with the ability to get listed on traditional national exchanges in the U.S. According to the filing, the trust will use “robust physical barriers to entry, electronic surveillance and continuously roving patrols” to pr...