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Showing posts from September 23, 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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Italian Payments Giant Nexi Involved in Digital Euro Project

Nexi, a leading European payments company, is reportedly giving advice to the European Central Bank (ECB) related to the digital euro project. The announcement was made by Nexi’s CEO Paolo Bertoluzzo, who also gave his opinion about the future of central bank digital currencies (CBDC) and cryptocurrencies during the Money 20/20 fintech conference in Amsterdam. Nexi Advising ECB on Digital Euro Issues Nexi, one of the biggest payments companies in Europe, is working in tandem with the European Central Bank toward the creation of a digital euro, according to statements made by Paolo Bertoluzzo, Nexi’s CEO. During an interview at the Money 20/20 conference, Bertoluzzo declared : We are engaging with the European Central Bank and contributing to the design of the future digital euro because we believe that can be a positive force in the evolution of digital payments. Nexi offers payments services for other banks, managing 41.3 million payment cards and 2.7 billion transactions each ...
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Arca Labs partners with Securitize on regulated, tokenized financial products

As part of its partnership with Arca Labs, Securitize will help launch tokenized financial products for the firm, starting with Arca’s registered tokenized treasury fund. Arca Labs, the innovation arm of digital asset investment firm Arca has partnered with blockchain tech firm Securitize to launch regulated, tokenized financial products. According to a Sept. 23 announcement, Securitize has signed on to provide a smart contract and issuance platform for the firm, starting firstly with Arca’s tokenized fund dubbed “Arca U.S. Treasury Fund” that was launched in July 2020. Arca touts it as the first treasury fund registered under the Investment Company Act of 1940 to issue shares as digital assets via the blockchain. The fund meets the same regulatory requirements as a mutual fund, but differs by offering exposure via Ethereum-based digital asset security tokens called “ArCoin.” Arca states that the fund will typically “invest a minimum of 80% of assets in U.S. Treasury securitie...
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BTC Proxy Lists on AscendEX

PRESS RELEASE. AscendEX is eager to announce the listing of the BTC Proxy token (PRXY) under the trading pair USDT/PRXY on Sept. 24 at 1 p.m. UTC. To celebrate the listing, AscendEX and the PRXY team will launch a number of limited-time promotional events, taking place between 1:00 a.m. UTC, on Sept. 24, and 12:00 a.m. UTC, on Oct. 1, 2021, offering users a chance to share pooled rewards up to 60,000 USDT ! BTC Proxy is a multi-institutional protocol for the decentralized tokenization of Bitcoin on ERC20, utilizing a Proxy Protocol called the “Proxy Relay”. The protocol gives Bitcoin holders a decentralized bridge to stake their Bitcoins into custody and transfer that value into an ERC20 token without the need for centralized exchanges and systems that exponentially increase the counterparty risk of theft or loss. Independent of liquidity conditions, BTC Proxy allows for the transfer of value without price slippage, directly affecting prices on exchanges. Improving on the desi...
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Golem releases laptop app to mine Ethereum … but turning a profit is tricky

Mining Ethereum on a home PC can be done, but profits will be few and far between. The Golem Network has launched an app that allows users to mine Ethereum on their laptops, but it could be a long time before riches can be reaped. The decentralized computing resources sharing platform released the Thorg app that allows users to mine Ethereum on Windows-based PCs and laptops. The app runs in the background and harnesses unused computing power to process the calculations required for proof-of-working mining. Users are rewarded in Golem’s native GLM token however, and not Ethereum. The system runs on layer-two aggregator Polygon which alleviates any heavy transaction fees associated with the ERC-20 GLM token. It creates “shares” which are batched computing tasks that are collected and used to mine Ethereum. Golem CEO, Piotr Janiuk, said that Thorg was designed to increase adoption of the Golem Network by allowing users to earn passive income on their own computers. The minimum req...
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Snoop Dogg Partners With Virtual Blockchain World Sandbox — Rapper Plans to Recreate His Mansion and Drop NFTs

Following the American rapper Snoop Dogg doxing himself as a crypto whale with millions of dollars worth of non-fungible token (NFT) assets, Snoop has revealed he has partnered with the virtual gaming world Sandbox. According to the announcement, Snoop is recreating his mansion in Sandbox and will be launching his new NFT collection. Virtual ‘Trees’: Snoop Plans to Recreate His Mansion in the Ethereum-Based Metaverse Sandbox The rapper, media personality, actor, songwriter, and businessman Snoop Dogg has announced he has partnered with the non-fungible token (NFT) metaverse project called The Sandbox . Essentially, Sandbox is a gaming ecosystem where people can create, share and monetize NFTs and gaming experiences on Ethereum ( ETH ). On September 22, Bitcoin.com News reported on how Snoop revealed his secret online personality called Cozomo de’ Medici, a character who owns millions of dollars worth of NFTs. Snoop is now taking the NFT game further and the partnership with Sandb...
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Acting OCC head warns that ‘fools gold’ in DeFi reminds him of lead-up to GFC

While crypto has been mostly weathered past hacks, scams, and crashes, acting OCC head Michael Hsu warns the risks may be multiplying as the technology goes mainstream. Acting head of the U.S. Office of the Comptroller of the Currency (OCC) Michael Hsu has warned that the exotic financial products developed in some quarters of crypto and DeFi were reminiscent of those that precipitated the 2008 Global Financial Crisis (GFC). Speaking before the Blockchain Association on Sept. 21, Hsu warned that “innovation for innovation’s sake [...] risks creating a mountain of fool’s good,” drawing analogies between the rapid proliferation of digital asset derivatives and the explosion in mortgage and debt derivatives such a Credit Default Swaps (CDS) that preceded the 2008 global financial crisis: “I have seen one fool’s gold rush from up close in the lead up to the 2008 financial crisis. It feels like we may be on the cusp of another with cryptocurrencies (crypto) and decentralized finance (D...
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Big investors pivoting from Bitcoin to Ether futures: JPMorgan

Ether futures are currently trading at a premium as investors make the switch from Bitcoin-based products. American multinational investment bank JPMorgan has revealed that institutional investors are starting to shy away from Bitcoin futures in favor of Ether derivatives. In a note to investors on Sept. 22, analysts at the Wall Street bank said that Bitcoin futures on the Chicago Mercantile Exchange (CME) have traded at a discount compared to spot BTC prices during September. As a consequence, Ethereum-based products have grown in popularity as investors made the switch to the world’s second-largest crypto asset. The analysts commented that there has been a “strong divergence in demand,” before adding: “This is a setback for Bitcoin and a reflection of weak demand by institutional investors that tend to use regulated CME futures contracts to gain exposure to Bitcoin,” When demand is high, BTC futures usually trade at a premium over the spot markets due to high BTC storage cost...
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Fed Chair Powell Updates Progress of Digital Dollar, Says ‘I Don’t Think We Are Behind’ on CBDC

Federal Reserve Chairman Jerome Powell has shared the progress of the Fed’s work on a central bank digital currency (CBDC), the digital dollar. “We are working proactively to evaluate whether to issue a CBDC and, if so, in what form,” he said, adding that he does not believe the U.S. has fallen behind other countries in this area. Fed Chairman Jerome Powell on Progress of the US CBDC The U.S. Federal Reserve has not made a decision whether to launch a digital dollar, Fed Chair Jerome Powell revealed on CNBC Wednesday. He was asked for an update of the Fed’s work on central bank digital currency (CBDC). “We think it’s really important that the central bank maintains a stable currency and payments system for the public’s benefit. That’s one of our jobs,” Powell began. “We also live in a time of transformational innovation around digital payments and we need to make sure that the Fed is able to continue to deliver to the public a stable and trustworthy currency and payment system.” H...
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SEC was the only regulator not willing to meet with Coinbase: Brian Armstrong:

Coinbase CEO Brian Armstrong has stated that SEC won’t meet with the firm, while asserting the 50% of Washington officials are concerned over the risks of crypto. Coinbase CEO Brian Armstrong claims that the U.S. Securities and Exchange Commission (SEC) is the only government branch that is not willing to meet with the firm. Speaking on Anthony Pompliano’s Best Business Show on Sept. 24, Armstrong said that during his visit to Washington after Coinbase went public in April , the SEC was the “only regulator” that refused to meet with him: “I reached out to the SEC. I tried to get a meeting with them. They told me that they weren't meeting with any crypto companies.” “I was kind of surprised by that because there are so many different regulators out there. Every single one has been willing to meet with us and every other branch of government,” he added. Armstrong highlighted his firm’s issues with the SEC’s approach earlier this month, when he revealed the enforcement body had...
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Derivatives data favors Ethereum bulls even with this week's crash below $3K

Losing the $3,000 mark just days before Friday's $1.55 billion ETH options expiry nearly doomed Ether longs, but derivatives data shows bulls are still in favor. Ether ( ETH ) has been in a bearish trend since early September, and this week's Evergrande-led market crash drove the price below $2,700 on Sept.20, its lowest level in 47 days. Curiously, just three weeks ago, Ether was testing the $4,000 psychological barrier, but this changed after mounting crypto regulatory concerns and the fear of China's debt markets triggering a global sell-off intensified. This week U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler spoke to the Washington Post about renewed plans to regulate the crypto sector and the growing stablecoin market. Ether's negative price trend reversed on Sept. 22 after U.S. Federal Reserve Chairman Jerome Powell confirmed the continuation of the central bank's monthly bond purchasing program. Powell also made clear that no inte...
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Twitter Launches Bitcoin Tipping Feature, Explores NFT Authentication

Twitter has begun rolling out “Tips,” a feature that allows users t o send bitcoin or cash tips. The rollout begins with iOS users with Android coming soon. The company is also planning support for non-fungible token (NFT) authentication. Twitter Rolls Out ‘Tips’ With Bitcoin Twitter Inc. announced Thursday that it is rolling out the bitcoin tipping feature starting with iOS users. The company tweeted: “Tested the Tips feature, turns out people love money. Rolling out on iOS with Android coming soon.” Twitter described: Tips allows you to send bitcoin or cash tips depending on how you configure your Tips settings and the regional availability of third-party payment providers. Twitter Support tweeted explaining how to use the new tipping feature. “Looking to get a little support with Tips? Tips is now rolling out to everyone (18+) on iOS. Add the Tips icon to your profile from the ‘Edit profile’ button,” the support account wrote. Looking to get a little support with tips? Tip...
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Shanghai Man: RMB stablecoin in Shanghai, Evergrande FUD, and FTX gains ground

This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industrys most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations. This week, the word “Evergrande” found its way into the vocabulary of every western investor. After years of watching the corporations football team on TV and drinking its bottled water, Crypto Twitter was the last place the Man in Shanghai expected to find it. After facing debts of over $300 billion, all types of rumors swirled, leading its Hong Kong-listed shares to drop 80% and a massive crypto sell-off early in the week. Misreading their tea-leaves The western experts had split opinions on the issue, with CNBCs Jim Cramer urging people to hedge their crypto exposure until the news became more stable. Famed investor Ray Dalio was less bothered by the news, asserting that the debt was manageable and wont likely cause much structural damage to the e...
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The Mercedes-AMG Petronas F1 Team Inks Long Term Deal With Crypto Exchange FTX

Following a number of partnerships this year, FTX Trading Limited announced on Thursday that the company has partnered with the Mercedes-AMG Petronas Formula One Team. According to FTX, the relationship will “span multiple race seasons” and the FTX logo will be “featured prominently” by both cars and drivers. FTX Teams up With Mercedes F1 in Long Term Partnership for Several Race Seasons Well known car brands and world-famous race teams have been entering the blockchain and cryptocurrency space in great numbers this year. Whether it be through advertising crypto platforms or NFTs, popular brands and racing teams want to get in on the blockchain industry. At the end of August, Ferruccio Lamborghini Museum launched NFTs, Porsche jumped into the non-fungible token industry, and Motor Team McLaren stepped into the NFT fray. NASCAR drivers have been sporting crypto advertising and have been asked to be paid in digital currencies as well. On Thursday, FTX revealed it is collaborati...
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LCX price rallies 300%+ after the launching DeFi Terminal 2.0

Increasing trading volume at Uniswap, a rising TVL and upgrades to its DeFi platform were followed by a new all-time high from LCX. The emergence of decentralized finance (DeFi) has reshaped the landscape of the cryptocurrency ecosystem, which was once dominated by centralized exchanges like Coinbase and Binance and helped to make it more accessible for users and projects seeking to gain access to the markets.  As DeFi emerged as a cheaper, more accessible option for investors and projects, centralized exchanges saw their reserves of BTC and Ether dip and they began to compete for users as growing numbers of investors opted to give DeFi a try. Instead of taking a 'centralized only' approach, LCX exchange has adapted its model to offer centralized and decentralized services and during this time its native LCX token climbed to a new record high. Data from CoinGecko shows that since hitting a low of $0.034 on Aug. 21 the price of LCX has exploded by 430% to a daily high at $0...
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Polker Is Integrating Chainlink Price Feeds Into Its Multi-Crypto Marketplace

Polker is proud to announce the upcoming integration of Chainlink Price Feeds . By integrating Chainlink-powered decentralized oracles, the Polker platform will be able to offer an even more decentralized and trusted service to players. The initial Chainlink Price Feed implementation will replace the current price feed API within Polker’s patented Multi Crypto Marketplace protocol. Although migrating the previous API to Chainlink Price Feeds is impressive, Polker has a lot more planned with Chainlink in the future. Polker.Game & Chainlink Polker’s patented Multi Crypto Marketplace solution requires that all cryptocurrency prices are updated correctly in real-time. The protocol currently uses an API that pulls live price data from multiple sources, checks for anomalies, and updates the prices in real-time. Although the system works fine, Polker doesn’t just want things to just ‘work fine’ – we want excellence. For this reason, Polker has been in communication with Chainlink and...
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Rich Dad Poor Dad Author Calls Evergrande a ‘House of Cards’ While China’s Officials Prep for Firm’s Demise

The world is still focused on the financial downfall of China’s real estate giant Evergrande and according to Chinese authorities have told the private sector to get “ready for the possible storm.” Reports show that even though the People’s Bank of China already provided $18.6 billion in liquidity to ease the brunt, Beijing may not be so willing to bail the company out. Chinese Authorities Warn of a ‘Possible Storm,’ PBOC Injects $18.6 Billion Into China’s Markets Financial markets could still be in for an unruly storm if Evergrande defaults and it causes a credit contagion . According to the Wall Street Journal (WSJ) on Thursday, senior officials from China have told local authorities to prepare for the property developer Evergrande’s demise. Evergrande amassed a mountain of debt and since the fallout on September 20, the giant corporation has been shaking right down to its foundations. Evergrande was able to clear Wednesday’s debts that were due, however, it’s unknown whether or ...
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Bitcoin bulls make a run on $45K after Twitter debuts crypto tipping

Bitcoin price rallied to $44,800 and takes aim at flipping the $45,000 level to support shortly after Twitter launched a new crypto tipping service. Bullish optimism is on the rise across the cryptocurrency market on Sept. 23 as prices continue to recover from this week's volatility which was the result of regulatory pressure on the crypto sector, the FOMC meeting on the Fed's interest rate hikes and monetary policy, along with fears that the Evergrande situation would ripple out to impact global financial markets. Data from Cointelegraph Markets Pro and TradingView shows that after trading in a range between $43,000 and $44,300 during the early trading hours on Thursday, the price of BTC spiked above $44,800 in the early afternoon and now takes aim at flipping the $45,000 resistance level into support. BTC/USDT 4-hour chart. Source: TradingView The timing of the spike in BTC price aligns closely with Twitter's announcement that users will now be able to tip other...
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BUSD: A case study for stablecoin compliance and security

Are stablecoins really stable? An in-depth case study based on the third-biggest stablecoin in the world answers the industry’s most pressing concerns. Stablecoins have emerged as significant players in the crypto market this year, driven by user demand for flexible liquidity in fiat currency times. These currencies are defined as a type of digital currency that can be pegged to underlying real-world assets or backed by them. These assets can be anything from fiat money, commodities like gold or silver, or even another cryptocurrency. As their name suggests, stablecoins are designed to have a value that stays (rather) stable like cash, a contrast to the volatility common in cryptocurrency trading today. To further illustrate this scenario, a typical fiat-backed stablecoin might involve the token issuer holding 100,000 tokens, each worth $1 USD. Token holders can trade these coins, similar to any other cryptocurrency. The major difference is that the holder can also redeem the coins...
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