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Showing posts from September 29, 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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Bank of England unveils all-star payments and tech lineup for CBDC Forums

Executives and experts from Google, Amazon, PayPal and ConsenSys will be assisting Britain’s central bank with its CBDC research. The United Kingdom’s central bank is ramping up its research into a central bank digital currency (CBDC) with the selection of a long list of banking and fintech experts to assist it. On Sept. 29 the Bank of England announced the membership of its CBDC Engagement and Technology Forums and they include some big names in technology and finance including Google, Mastercard, Consensys — and even Spotify. This week’s announcement is a signal that the central bank is taking its CBDC plans seriously. It stated that the Technology Forum draws resources from leading experts in the field of digital payments and cryptocurrencies. “The Forum will help the bank to understand the technological challenges of designing, implementing and operating a CBDC.” The Engagement Forum includes “senior stakeholders from industry, civil society, and academia,” that will assist ...
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EverRise Brings Buyback Token and Ecosystem of dApps to Polygon and Ethereum

PRESS RELEASE. Singapore, September 30, 2021. Less than three weeks after releasing its first dApp EverOwn for Binance Smart Chain, EverRise is proud to announce they will launch EverBridge to both the Ethereum and Polygon blockchains on October 5th. With EverBridge, EverRise will make its revolutionary suite of dApps available to projects on both networks starting with EverOwn for Ethereum on October 5th, followed by EverOwn for Polygon on October 8th. This will expand the reach of EverRise’s security solutions and enable the $RISE token to be traded and utilized across all three networks. “This is an exciting time for us to expand the EverRise Ecosystem and also introduce improvements to our project. This bridge allows us to take the dApps and blockchain solutions we have been building and make them more accessible to all developers on the Binance Smart Chain, Polygon, and Ethereum networks,” said Suresh Maddineni, EverRise CEO and Founder. Keeping with the standard of being...
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‘Faster and Cheaper Cross-Border Transfers’ — Banking Report Led by BIS Highlights the Benefits of Cryptocurrency

According to a report published by the Bank of International Settlements (BIS) and a group of central banks, digital currencies can lead to faster settlement and cheaper transfers. Moreover, the banking group leveraged a prototype that shows how money transfers can be done in seconds with very little processing fees. Inexpensive Transfers & Speed: Bank of International Settlements Report Says Digital Currencies Can Be More Effective During the second week of September, the head of the Bank of International Settlements (BIS) Innovation Hub, Benoît CÅ“uré, explained that central banks need to act quickly in order to develop central bank digital currencies. CÅ“uré stressed that a digital currency economy already exists and “CBDCs will take years to be rolled out.” Following CÅ“uré’s statements, BIS, alongside four central banks from the United Arab Emirates, Hong Kong, China, and Thailand, is embarking on a digital currency experiment. The banking group produced a prototype and publi...
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CFTC charges 12 New York crypto options businesses with failing to register

The listed crypto options providers named by the CFTC include relatively unknown names such as Bitfxprofit, Star FX Pro, Smarter Signals and BinanceFx Trade. The Commodity Futures Trading Commission (CFTC) has charged 12 New York-based crypto options businesses with allegedly failing to register with the regulatory body. In a Sept. 29 press release , the CFTC outlined that it is charging 14 entities in total, with the 12 crypto-focused firms all on the hook for failing to register as futures commission merchants (FCMs). All of the firms were "allegedly based in New York." The other two companies have allegedly posted misleading information about their National Futures Association (NFA) membership and registration with the CFTC. The listed crypto options providers include relatively unknown names such as Bitfxprofit, Star FX Pro, Smarter Signals and BinanceFx Trade — the latter of which is unaffiliated to the major global exchange Binance despite its name. “Today’s actio...
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Polygon briefly overtakes Ethereum for active addresses after 330% surge

Layer two aggregator Polygon has seen a 330% surge in active addresses over the past 3 months. Layer two protocols have seen monumental growth this year and one of them has briefly surpassed the network it is a scaling solution for, in terms of active addresses. The number of daily active unique addresses on layer two aggregator Polygon has surpassed those on the high fee layer one Ethereum according to protocol co-founder Mihailo Bjelic. According to his stats, Polygon had 351,000 daily active addresses on Sept. 27 whereas Ethereum had 326,000. Another huge milestone for @0xPolygon ! We eclipsed Ethereum L1 in daily active addresses for the first time! This is just the beginning. We are working round the clock to improve our tech, strengthen our ecosystem and increase adoption. Let's bring the world to Ethereum! pic.twitter.com/K4sAF1y3LT — Mihailo Bjelic (@MihailoBjelic) September 29, 2021 According to Polygonscan , the number of active addresses skyrocketed on Sep...
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Bragging rights: Twitter previews verification badge for NFT profile pics

Users will have the option to set crypto collectibles as their profile pic to impress everyone. Twitter has unveiled an in-development tool that will enable users to display a verified NFT as their profile picture. Mada Aflak, a senior software engineer at Twitter, shared a video demonstrating functionality that allows users to add NFTs to their accounts. Users can simply edit their profile, connect a cryptocurrency wallet, and import their OpenSea collection. Then, they can choose an avatar from their collection of non-fungible token (NFT) digital art. The profile picture will also be marked with a badge to verify that the image is the genuine article, thereby allowing them to flex their hugely expensive CryptoPunk or Bored Ape profile picture and have everyone know it’s legit. Aflak stated that the run-through was just an experiment using a mock-up, so anything could change, and she called on users to submit feedback and suggestions. As promised, here is the first experiment. ...
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Vulnerable: Kraken reveals many US Bitcoin ATMs still use default admin QR codes

Kraken has urged BATMTwo ATM owners and operators to change the admin QR code for their ATMs to avoid potential attacks. Kraken Security Labs has said that a “large number” of Bitcoin ATMs are vulnerable to hacking as the administrators never changed the default admin QR code. In a Sept. 29 blog post, Kraken posted research from its Security Labs team which found that there are “multiple hardware and software vulnerabilities” in the General Bytes BATMTwo ATM range. “Multiple attack vectors were found through the default administrative QR code, the Android operating software, the ATM management system and even the hardware case of the machine,” the post read. Kraken’s security team stated that if a hacker gets their hands on the administrative code, they can essentially “walk up to an ATM and compromise it,” while also highlighting issues with the BATMtwo’s lack of secure boot mechanisms, as well as “critical vulnerabilities” in the ATM’s management system. However, General Bytes ...
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China's crypto holdouts: Bitcoin nodes and OTC desks struggle on

There are still a handful of Bitcoin nodes hanging on in China and OTC trading remains viable, but it may not be for long. Despite Beijing’s ever-increasing crackdown on the crypto industry, there are still some signs of life in the People’s Republic regarding the Bitcoin network and OTC trading. China intensified its clampdown on crypto last week in an effort to suppress any remaining activity related to digital assets within its borders. The regime specifically targeted crypto transactions, but as researched by Cointelegraph, this action is nothing new with at least 19 similar crackdowns over the past decade or so . Despite the latest move, there are still 135 Bitcoin nodes in operation in China according to data from Bitrawr which measures nodes by geographical location. However, this is just 1.21% of the total 11,262 Bitcoin nodes spread across the planet. There may be more if they are operating behind virtual private networks (VPNs) and/or using onion routing with Tor which m...
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Tesla CEO Elon Musk Opposes Governments Regulating Crypto, Says They Should ‘Do Nothing’

Tesla CEO Elon Musk thinks governments should not try to regulate cryptocurrency. “I would say, do nothing,” he recommended. Musk believes that it is not possible to destroy crypto, but governments can “slow down its advancement.” Elon Musk Says Governments Should ‘Do Nothing’ and Leave Crypto Alone Tesla CEO Elon Musk discussed cryptocurrency and China on Tuesday at Code Conference in Beverly Hills, California. Responding to a question from New York Times columnist Kara Swisher about whether it is “the right thing” for governments to regulate and take control of cryptocurrency, and whether it is possible for them to do so, he said: It is not possible to, I think, destroy crypto but it is possible for governments to slow down its advancement. Musk was specifically asked what the U.S. government should do regarding cryptocurrency. The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, was on stage at the conference earlier and he called cryptocurrency th...
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Eternal Beings NFT prices plunge after rapper Lil Uzi deletes promo Twitter posts

The Eternal Beings team stated on Discord that Lil Uzi has only temporarily walked back from the NFT project to work on his new album. The floor price of Eternal Beings NFTs plunged after affiliated celebrity rapper Lil Uzi deleted his promotional posts about the project. The Solana-based NFT project consists of 11,111 computer-generated alien avatar NFTs that feature similar traits to the Lil Uzi, such as hair, tattoos, and fashion style. The NFTs were minted at a price of 2.5 Solana (SOL) worth roughly $337 at the time of writing. Lil Uzi's NFT : Eternal Beings While it is unclear if the popular rapper was on the team behind Eternal Beings or working purely as a paid promoter, the 26-year-old year apparently deleted his promo posts after the project’s launch on Sept. 28. The NFT collection sold out at the 2.5 SOL mint price, however after Lil Uzi scrubbed his Twitter of mentions of the project, the floor price dipped to 1.67 SOL ($225) according to data from secondary...
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Miami Mayor: China’s Crypto Crackdown ‘Creates Incredible Opportunity for America’ in Bitcoin Mining

The mayor of Miami, Florida, sees China’s cryptocurrency crackdown as “the turning point” that “creates an incredible opportunity for America.” He said: “Their loss is our gain and America can and will lead the future by providing a clean power home for bitcoin miners and all who are building on/with/for bitcoin.” Miami Mayor Sees US Benefiting From China’s Crypto Crackdown Miami Mayor Francis Suarez, who has been trying to build his city into a bitcoin hub , sees the crypto crackdown by the Chinese government as an opportunity for his city and the U.S. He told Bloomberg: The turning point is now. It creates an incredible opportunity for America. Suarez commented on China’s crackdown this week: “China banning bitcoin is a massive mistake with impacts that will be felt for generations. Their loss is our gain and America can and will lead the future by providing a clean power home for bitcoin miners and all who are building on/with/for bitcoin.” The mayor of Miami is not the onl...
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Traders identify $41K as Bitcoin’s key support to hold for the short-term

While the long-term sentiment remains bullish, traders warn that BTC must hold the $41,000 support to avoid a sweep of the $38,000 level. Bitcoin faced another day of bearish pressure on Sept. 29 as the impact of China's crypto crackdown and uncertainty about the regulatory landscape in the United States continue to weigh heavily on Bitcoin ( BTC ) and some of the larger-cap altcoins.  Data from Cointelegraph Markets Pro and TradingView shows that the early morning rally above $42,000 lost steam by midday as the price collapsed back near the $41,000 support level where bulls are now defending against a further price decline. BTC/USDT 4-hour chart. Source: TradingView Here’s a look at what traders and analysts are saying about Bitcoin price today. “Boring” Bitcoin market Despite the recent volatility, the current price action is considered to be “boring” by market analyst and Cointelegraph contributor Michaël van de Poppe, who posted the following tweet highlighting that ...
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Salvadoran President Shares Video of Volcano-Powered Bitcoin Mining Facility

On Tuesday, Salvadoran president Nayib Bukele shared a video of a bitcoin mine operating adjacent to a volcano. Bukele discussed the volcano-powered bitcoin mining on June 9 when he talked about the “95MW of 100% clean, 0 emissions geothermal energy from our volcanos.” El Salvador’s Nayib Bukele Shares a Video of the ‘First Steps’ Behind the Volcano-Powered Bitcoin Mine Construction The president of El Salvador shared a video via the social media platform Twitter that said “First steps,” as the film shows ASIC bitcoin mining rigs being installed at a geothermal energy plant. The video shows containers that are emblazoned with the Salvadoran government logos and a large quantity of ASIC mining devices. The video has been viewed around 2 million times on Twitter, and Bukele’s video tweet has over 50K likes and over 12,000 retweets. First steps… 🌋 #Bitcoin 🇸🇻 pic.twitter.com/duhHvmEnym — Nayib Bukele 🇸🇻 (@nayibbukele) September 28, 2021 While many bitcoin proponents said ...
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Tehran Stock Exchange CEO resigns following discovery of Bitcoin miners in basement

Iranian authorities have conducted many raids on crypto miners in abandoned factories, homes, and small businesses — nothing quite as high profile as the country's largest stock exchange. Ali Sahraee, the chief executive officer of the Tehran Stock Exchange since 2018, has reportedly resigned after the discovery of cryptocurrency mining rigs in the building. According to a report from the country’s state-run media, the Islamic Republic News Agency, Tehran Stock Exchange, or TSE, market vice president Mahmoud Goudarzi will be leading the company following the departure of Sahraee. The change in leadership seems to be the result of “a number of miners” being discovered in the basement of the TSE building located in the district of Sa'adat Abad. The TSE reportedly initially denied the existence of the miners, saying the equipment was part of a research project. However, executive deputy director Beheshti-Sarsht later said the company should be held accountable for its actions...
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Price analysis 9/29: BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, AVAX, UNI

A week-long pattern of daily lower highs suggests bulls will be unable to flip $43,000 to support and this could weigh on the fledgling recovery seen across many altcoins. Bitcoin ( BTC ) and Ether ( ETH ) are attempting to bounce off their critical support levels as bulls try to thwart attempts by the bears to deepen the correction. Tesla CEO Elon Musk said at the Code Conference in California recently that governments cannot “destroy crypto,” due to its decentralized nature but can “slow down its advancement.” Data shows that whales have been moving record amounts of Bitcoin in the past two weeks. The total transfer volume of transactions worth $10 million and higher have surpassed levels seen when Bitcoin’s price was near $60,000. According to on-chain analytics resource Material Indicators, “smaller” whales sold and mega whales added to their holdings. Daily cryptocurrency market performance. Source: Coin360 Bobby Lee, the former CEO of BTCC exchange, said in an intervi...
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Celer (CELR) gains 400% after traders embrace its multi-chain ‘cBridge 2.0’ solution

CELR soars to a new all-time high following the launch of its cross-chain bridge that allows traders to jump back and forth between various layer-1 and layer-2 platforms. High transaction costs have been a thorn in the side of investors and developers for more than a decade and the issue became worse in 2021 after the emergence of decentralized finance (DeFi) and nonfungible tokens (NFT) led to record-high levels of activity across the cryptocurrency ecosystem.  Since the completion of Ethereum's London hard fork, cross-chain bridges and layer-2 solutions have been revised as options for mitigating the high fees on the Ethereum network. In the past two weeks, Celer, a layer-two scaling solution that utilizes off-chain transaction handling to help increase the throughput capacity of its network, has seen an uptick in user activity. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.0398 on Sept. 8, the price of CELR has surged 400% to reac...
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Tether scores win in class action case as court dismisses RICO claims

"Litigation will expose this case for what it is: a clumsy attempt at a money grab, which recklessly harms the whole cryptocurrency ecosystem," said Tether. The judge in the class-action lawsuit filed in the Southern District of New York against stablecoin issuer Tether and crypto exchange Bitfinex has granted motions to dismiss many of the claims in the case. According to court documents filed Tuesday in the Southern District of New York, District Judge Katherine Polk Failla has granted motions from Tether’s and Bitfinex’s parent company iFinex to dismiss key claims in the plaintiffs’ case that the two firms manipulated the crypto market. Altogether, Judge Failla granted motions to dismiss five complete claims and part of one, while denying six others. Specifically, the judge said she would not allow investors to bring claims against Tether and Bitfinex under the Racketeer Influenced and Corrupt Organizations Act, or RICO, nor allegations related to racketeering or using...
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Thailand to Develop ‘Cryptourism,’ Considers Issuing Utility Token

In search of ways to heal its travel industry, hurt by the pandemic, Thailand is now recognizing an opportunity to tap into a growing market of cryptocurrency holders. Fostering a “cryptourism atmosphere” is what the country’s tourism agency intends to do, including by minting a new token and facilitating bitcoin card payments. Tourism Board of Thailand Plans to Employ New Coin to Spur Demand From Crypto Market Pondering how to capitalize on the expanding global crypto user base, the Tourism Authority of Thailand (TAT) has pitched the idea of issuing its own utility token dubbed TAT Coin. The Bangkok Post revealed on Wednesday that the body wants to examine relevant regulations and the viability of such a project before embarking on the initiative. The state-run agency is now holding talks with the Stock Exchange of Thailand on the possible introduction of the token, the report details, quoting TAT governor Yuthasak Supasorn. TAT Coin would allow the transfer of travel vouchers in...
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DYDX gains 80% in a week — What's driving the DEX token rally?

Traders raised their bids for the decentralized exchange token, believing it would benefit from China's decision to classify all crypto transactions as "illegal." Decentralized exchange dYdX's native token DYDX, surged by nearly 80% this week as traders assessed its potential against China's recent ban on crypto transactions. The DYDX price hit a new high of $26.50 on the FTX exchange after trading at around $13 a week ago. The China ban was an apparent boost for the DYdX decentralized exchange (DEX) that offers perpetuals, margin and spot trading, as well as lending and borrowing services to its users. Holding DYDX gives owners the right to propose and vote on changes to dYdX's Layer 2 protocol. DYDX stakers receive rewards by depositing to the DEX's related liquidity staking pools . Also, users benefit by receiving a discount on trading fees but based on the size of their DYDX reserves. dYdX distributed—or airdropped—DYDX tokens among its users base...
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Ukraine’s central bank seeks to hire a blockchain developer, job posting reveals

The development marks another sign of the digital hryvnia project picking up steam. The National Bank of Ukraine, the country’s chief monetary authority, has recently taken to professional social network LinkedIn to promote its blockchain developer job opening . The ad was published by the director of NBU’s IT department, Vladimir Nagornyuk. The ad goes on to list “development, implementation and modification of infrastructure services […] and distributed systems” among the prospective employee’s duties, in addition to mentioning smart contracts and Hyperledger competencies among the requirements for the job. The central bank’s interest in blockchain hires adds to other recent news coming out of Ukraine’s CBDC project, the e-hryvnia. Last week, speaking at a round table discussion on the opportunities and risks of virtual assets’ legalization, Ukraine's deputy minister of digital transformation Oleksandr Bornyakov mentioned that the e-hryvnia pilot was underway. NBU has been ...
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