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Showing posts from September 30, 2021

Nifty News: DJ Paul Oakenfold to launch album on Cardano, NFL confirms NFTs, and more

The NFL has official confirmed its partnership with Dapper Labs to drop NFTs, renowned DJ Paul Oakenfold is dropping a tokenized album on Cardano, DC is giving away free comic book cover NFTs. Cardano’s daggy dad turns DJ Cardano founder Charles Hoskinson has teamed up with legendary electronic dance music (EDM) DJ Paul Oakenfold to launch a tokenized album on Cardano. Oakenfold is a three-time Grammy Award nominee and his career in the music industry spans back to the early 1980s. His upcoming album dubbed “Zombie Lobster” was announced during the Cardano summit on Sept. 27. Every aspect of the album will be tokenized on the Cardano blockchain , including cover art, tracks, sleeve notes and remixes. The album is part of a release from an NFT project named “Starship Universe”, which is operated by music entrepreneur Alon Shulman, who manages DJ’s such as Carl Cox. Starship Universe will reportedly release thousands of NFTs on Cardano, as part of the collaborative partnership. “I...

Value locked in DeFi grows 936% in one year, NFT sector strengthens: DappRadar

The total value locked in DeFi protocols has surged 936% over the past 12 months. New research by analytics platform DappRadar has revealed the extent to which decentralized finance and nonfungible token (NFT) markets have grown this year. In its Sept. 30 “Value Flow Report”, crypto analytics platform DappRadar reported that recent trends have seen sizable growth in NFTs and blockchain gaming, but that DeFi is also still generating substantial value. “Although the value flows to some extent from DeFi to NFTs, it appears that both categories are generating value independently.” The research delved into Ethereum based DeFi which is still the dominant force in the sector despite the emergence of rival networks such as Binance Smart Chain (BSC), Solana, and Avalanche. Value has continued to flow in with wrapped Ethereum up 400% since July 2020 and stablecoins Tether and Dai increasing by 1,300% and 500% over the same period respectively. DappRadar currently reports a total value lo...

The ARwards: The Official OVR Contest for Content Creators

Following the announcement of a few days ago, the decentralized multiverse platform OVR , which unites the physical and virtual worlds through Augmented Reality, has launched “ The ARwards ” contest open to all creators who are looking for an opportunity to gain wide visibility and possibly win interesting prizes. First of all, The ARwards is completely free for any participant who will simply be asked to register. Creators will be required to provide: username, password, email and nationality, thus completing the registration in less than five minutes. The platform offers content creators the opportunity not only to project their 3D experiences to the world, but also to encourage competition among creators to make augmented reality experiences even better. In concrete terms, through an OVRLand NFT, the famous virtual hexagon developed by OVR to create three-dimensional objects on top of it, participants can upload a 3D model to the dedicated workspace, edit it, refine it and final...

Dogecoin Co-Founder Suggests an Ethereum Bridge to Doge and Compatible NFT Markets

Billy Markus, the co-founder of Dogecoin, explained on Wednesday that an Ethereum bridge to the Doge network would bolster the dogecoin ecosystem. Markus also said that non-fungible token (NFT) markets “would help Dogecoin” as well. Dogecoin Co-Creator Thinks 2 Ideas Could Help the Doge Network The popular crypto asset dogecoin (DOGE) has gained a whopping 7,500% during the last 12 months and reached a high of $0.731 per unit on May 8, 2021. However, DOGE is down 72% since that all-time high and 25.4% during the last month. While the Dogecoin co-founder Jackson Palmer criticized the crypto world and said it was managed by powerful cartels, Billy Markus speaks about crypto in a positive manner. On Wednesday, Markus tweeted about the meme-based crypto network he helped create and discussed how the project could be helped by adding two things. “Two things I believe would help Dogecoin: [The] completion of DOGE ETH bridge, [and] NFT platforms (e.g. Opensea) allowing for the DOGE-...

Billion dollar Bitcoin mining industry resumes in Iran after three month ban

The extreme heat of the summer has subsided, so crypto mining has been given the green light as it can no longer be blamed for stressing the electricity grid. The Iranian government will allow licensed cryptocurrency miners to resume operations today following a three-month ban imposed by former President Hassan Rouhani on May 26th, 2021. The initial ban was put into effect due to concerns over the stability of the country’s unreliable power grid. The middle eastern country experienced widespread power outages in the summer, which former President Rouhani attributed to extreme heat . On some days, the heat topped 120 degrees Fahrenheit, or nearly 49 degrees Celsius. Middle East and Central Asia are under the harshest heat wave in history for this time of the year. In #Iran 51.0C at Omidieh,50.1C at Abadan,45.5C at Bam (920m asl). In Turkmenistan 46.7C Uchadzhi,in Uzbekistan 44.7C at Termez,in Tajikistan 43.7C at Isambaj (563m). pic.twitter.com/AQ5bpt93vM — Extreme Temperatures...

New Australian crypto legislation likely in 2022, Senator Bragg tells NFT Fest

Talking about a digital asset plan being cooked up by a Senate inquiry, Senator Andrew Bragg said, “We will want the major parties, including my party, to adopt these policies as part of their election manifestos.” Liberal Senator Andrew Bragg has told a local industry event that Australia’s digital asset plan to create cryptocurrency-related legislation is “coming” soon and could be enacted in 2022. He also backed plans to run the sector on renewable energy as part of the government's yet-to- be-established goal of achieving ‘net zero’ carbon emissions. Speaking at the virtual NFT Fest event supported by Blockchain Australia on Sept. 30, Bragg stated that the select Senate committee investigating the topic will publish its report by the end of October, which will include regulatory recommendations that can be legislated over the next 12 months. “The review is due to conclude in about three weeks from now and the promise that I made you, I will keep. We will give you a plan,...

South Korean crypto tax delay thwarted

The crypto tax will begin for South Koreans in 2022 but some industry observers say there is no cause for concern. Lawmakers in South Korea settled a long political battle on Sept. 30th and headed off moves by the ruling party to delay the implementation of the controversial crypto tax legislation. In a meeting on the 26th but only reported yesterday, Finance Minister Hong Nam-ki and key Democratic lawmakers from the National Assembly, South Korea’s legislature, are said to have come to a final agreement that the crypto tax will be carried out as planned The Korean crypto tax will tax crypto profits in a similar way to traditional stocks. It will levy a 20% tax on income generated by crypto transactions in excess of 2.5 million Korean won, or about $2,100. The majority Democratic party in the National Assembly was attempting to pass an amendment to the tax bill which would have postponed the tax until 2023. Democratic lawmaker Kim Byung-ook proposed in open session on Septe...

Societe Generale proposes historic $20M DAI loan in exchange for bond tokens

The digital assets division of the international bank wants to provide home loan-backed security tokens as collateral for the loan. One of France’s leading banks has turned to decentralized finance pioneer MakerDAO to propose the submission of bond tokens as collateral for a loan of the DAI stablecoin. The historic proposal called “Security Tokens Refinancing” was submitted to Maker’s governance forums by the international bank on Oct. 1. It would be the first major collaboration between a traditional bank and a DeFi protocol and could open the door for closer integration between the two sectors. Societe Generale (SG) labeled it as the “first experiment at the crossroads between regulated and open source initiatives.” The bank has proposed that it provides “OFH” security tokens (obligations de financement de l’habitat) which are characterized as covered bonds under French law, and backed by home loans. These would be used to collateralize a $20 million loan in Maker’s DAI stable...

Former Federal Prosecutor: There’s Much More to Crypto Than Financial Use Cases, Regulation Cannot Be One Size Fits All

Former federal prosecutor Katie Haun says that regulators really need to take stock of the fact that we’re beyond just financial use cases of cryptocurrency. “There’s much more to crypto than that,” she said, adding that “Regulation cannot be one size fits all.” Haun further said that crypto is not the Wild West and the industry wants clarity, not lack of regulation. Former Federal Prosecutor Discusses Crypto Regulation and SEC’s Role Katie Haun talked about cryptocurrency and its regulation at CNBC’s Delivering Alpha Conference Wednesday. Haun is a general partner at venture capital firm Andreessen Horowitz. She previously spent a decade as a federal prosecutor focusing on fraud, cyber, and corporate crime alongside agencies including the Securities and Exchange Commission (SEC), Federal Bureau of Investigation (FBI), and Treasury. She created the government’s first cryptocurrency task force and led investigations into the Mt. Gox hack and the corrupt agents on the Silk Road task...

DOGE co-founder sets sights on Ethereum bridge and NFTs for mass adoption

Billy Markus has talked up a proposed Dogecoin-to-Ethereum bridge so that DOGE can be used on top NFT marketplaces such as OpenSea. Dogecoin (DOGE) co-founder Billy Markus has set his sights on nonfungible tokens (NFTs) and an Ethereum-to-Dogecoin bridge to help bring about for mass adoption of the meme coin. In a Sept. 30 tweet, Markus emphasized the importance of completing the Ethereum-Dogecoin bridge so that the asset could be integrated with top Ethereum-based NFT platforms such as OpenSea, enabling non fungible purchases with DOGE. Markus said that there is “high demand” to purchase NFTs within the crypto community and that enabling NFT purchases with DOGE “greatly increases its utility.” DOGE being implemented into the NFT ecosystem would be a huge benefit to the community! — Mr. Whale (@CryptoWhale) September 29, 2021 The in development DOGE-ETH bridge would enable users to send DOGE from the Dogecoin blockchain to the Ethereum blockchain, and transact with the asset ...

Shanghai Man: Looking deeper into China’s biggest ban yet

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. Well, it finally happened. The regulation-driven crypto-apocalypse in China. They started by clamping down on miners earlier this summer before finally tightening the screws on exchanges. This week, the final nail in the coffin came with even more rules from the PBoC that resulted in many platforms announcing they could no longer accept Chinese users. Banned yet again The new rules handed down by the Peoples Bank of China made things incredibly clear for businesses from a legal standpoint. One of the main points was that cryptocurrency-related business activities are illegal, a ruling that cast doubt over the long list of projects, exchanges, and financial service providers in the country. Many projects responded instantly by eliminating WeChat comm...

SEC Chairman Gary Gensler Looks Forward to Review of Bitcoin Futures ETF Filings

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, explains that some laws provide “significant investor protections” for exchange-traded funds (ETFs), including those seeking to invest in bitcoin futures. He looks forward to seeing the SEC’s review of such filings. SEC Chairman Looks Forward to Staff’s Review of Bitcoin Futures ETF Filings SEC Chairman Gary Gensler talked about crypto regulation and bitcoin exchange-traded funds (ETFs) at the Financial Times’ Future of Asset Management North America conference Wednesday. In prepared remarks, he discussed “investment vehicles providing exposure to crypto assets,” noting that “Earlier this year, a number of open-end mutual funds launched that invested in Chicago Mercantile Exchange (CME)-traded bitcoin futures.” Gensler added, “Subsequently, we’ve started to see filings under the Investment Company Act [’40 Act] with regard to exchange-traded funds (ETFs) seeking to invest in CME-traded bitcoin futures...

Billionaire Orlando Bravo Owns Bitcoin, Says ‘It Will Increase Significantly, I’m Very Bullish’

Orlando Bravo, the billionaire who co-founded private equity firm Thoma Bravo, says he is very bullish on bitcoin, expecting the cryptocurrency to “increase significantly.” He described: “Crypto is just a great system. It’s frictionless. It’s decentralized. And young people want their own financial system. So it is here to stay.” Billionaire Investor ‘Very Bullish’ on Bitcoin Orlando Bravo, co-founder and managing partner of private equity firm Thoma Bravo, talked about bitcoin Wednesday at CNBC’s Delivering Alpha conference. His net worth as of Sept. 29 is $6.3 billion, according to Forbes. Bravo is reportedly the first Puerto Rican-born billionaire. “How could you not love crypto?” he said at the conference, elaborating: Crypto is just a great system. It’s frictionless. It’s decentralized. And young people want their own financial system. So it is here to stay. “The underlying technology of blockchain, regardless of what protocol or what system you are building upon, can be v...

DeFi and DEX volumes soar amid China's crypto ban and ongoing US regulation

Data shows that crypto holders are increasingly shifting to DeFi protocols and DEXs as China continues its cryptocurrency crackdown and fears of heavy-handed regulation scare US-based traders. Last week China’s heavy-handed crackdown on crypto trading crypto briefly sent shockwaves across the market as Bitcoin and altcoin prices saw a sharp drop following the announcement, but as is the case with all things crypto-related, the market bounced back as resilient traders found other ways to participate in the market. Part of China's goal in limiting citizens ability to trade cryptocurrency seems focused on discouraging the use of cryptocurrencies and the growing decentralized finance (DeFi) ecosystem but these maneuvers appear to be having the opposite effect as the token price and protocol activity for projects like Uniswap (UNI) and dYdX have seen an uptick since the crackdown began. According to data from Chainalysis, there has been a significant amount of regional Bitcoin ( ...

Bears intend to pin Bitcoin price below $42K until Friday's $700M expiry passes

$700 million in BTC options expire on Friday, and derivatives data signals that bears are positioned to profit from a sub-$45,000 Bitcoin price. Bitcoin ( BTC ) has been trading in a descending pattern since the strong $53,000 rejection that occurred on Sept. 7, and the $3.4 billion futures contracts liquidation along with China's ban on crypto trading appear to have severely impacted traders' morale. Adding to the negative sentiment, major crypto exchanges like Binance and Huobi halted some services in mainland China, and some of the largest Ethereum mining pools, like Sparkpool and BeePool were forced to shut down completely. Bitcoin price in USD at Coinbase. Source: TradingView Based on the above chart, it is possible to understand why buyers placed 80% of their bets at $44,000 or higher. However, the past two weeks definitively caused those call (buy) options to lose value quickly. On Sept. 25, the People's Bank of China (PBoC) posted a nationwide ban on cryp...

Solana-Based DEX Soldex AI, CEO John Robertson Explains the Impact

One of the backbones of crypto market in today’s world are decentralized exchanges that took the world by the storm in recent years. And as the crypto exchange market is moving and developing rapidly, it is absolutely no surprise that the exchanges have to evolve in accordance. Therefore, today, The CEO of Soldex.ai , John Robertson will present you with the next step in crypto exchanges, which is the AI powered trading that may be the future of the token trading. The impact of Soldex.ai and what makes it to stand out from the other projects One of the most salient blockchain in the recent times is Solana. It took the world by storm while offering many benefits, hence it has been chosen for the Soldex.ai. Soldex.ai was created to solve certain issues caused by order-matching centralized exchanges and the trust-less custody found in the exchanges of the today. Soldex.ai will power the new avalanche of flexible financial markets. The protocols will serve as a foundational layer for s...

Coinbase to Add Direct Deposit Feature — US Paychecks Can Soon Be Converted to Crypto

On September 27, the digital currency firm Coinbase announced that U.S. customers will soon be able to directly deposit their paycheck into their Coinbase accounts. With the new direct deposit feature, Coinbase customers can leverage their funds to make investments, generate yield, or add value to their Coinbase prepaid debit card. US Coinbase Customers Will Soon Be Able to Use Direct Deposit Feature Coinbase has come a long way since the firm was created in 2012, and now as a publicly-listed company, the crypto firm offers a myriad of services and is still one of the top gateways to the crypto world. On Monday, the company’s senior director of product, Prakash Hariramani, published a blog post explaining how U.S. Coinbase customers will soon be able to directly deposit their paycheck into their Coinbase accounts. “Over the next few weeks,” Hariramani announced, “we’re rolling out the ability for customers in the U.S. to deposit their paycheck into Coinbase to more easily make reg...

Fed’s Powell has no intent to ban Bitcoin or crypto

Powell testified before the House Financial Services Committee on Thursday on matters related to the economy and the Covid-19 pandemic. Federal Reserve Chairman Jerome Powell believes the federal government needs to regulate the cryptocurrency market, but that a blanket ban on Bitcoin ( BTC ) and other digital assets is not in the cards. Speaking in response to a question from Republican Representative Ted Budd of North Carolina, Powell clarified that a China-style ban on digital assets was not something he’s considering. Rep. Budd’s question came in response to Powell raising doubts about the regulatory status of stablecoins and the central bank’s ongoing deliberations around a so-called “digital dollar.” (In Powell’s view, a central bank digital currency, or CBDC, could perform many of the functions of stablecoins and cryptocurrencies but without the regulatory risk.) “Stablecoins are like money market funds [and] like bank deposits but they’re, to some extent, outside the regul...

The infrastructure bill is hanging in the balance. What would its enactment mean for crypto?

Hinging on Democrats' ability to resolve intraparty disagreements, the controversial legislation could have tangible consequences for digital finance in the U.S. and beyond — if passed by the House today. Later today, the United States House of Representatives is expected to vote on the bipartisan Infrastructure Investment and Jobs Act of 2021, a bill authorizing sweeping investments in domains such as passenger rail, bridge repair, clean and wastewater facilities, clean energy transmission, and universal access to high-speed internet. Also tucked into the massive bill are several provisions that would directly affect millions of crypto users if enacted, particularly the expanded tax reporting requirements for entities handling cryptocurrency transactions. Neither the bill becoming law nor even the Sept. 30 House vote on the bill is warranted. The legislation is working through Congress alongside the budget resolution bill, with several factions within the Democratic party — whi...

TikTok embraces NFTs with creator-led collection

The NFT launch features prominent TikTokers including Lil Nas X, Bella Poarch, Curtis Roach, Brittany Broski and others. Social media platform TikTok has announced its first foray into the NFT market with a new collection inspired by its leading trend-setters. On Thursday, the company announced TikTok Top Moments, a new program that allows content creators to be recognized and rewarded for their content. The NFT drops will be launched on Ethereum and powered by Immutable X, a new scaling solution for layer-two NFT protocol Immutable . TikTok Top Moments is said to feature a selection of six TokTok videos from the network’s most influential creators. Each one is intended to celebrate the impact of these creators in making TikTok one of the largest social networks in the world. The company said that proceeds from the sales will go directly to the content creators and NFT artists. Related: Immutable raises $60M for its carbon-conscious NFT platform TikTok appears to be slowly piv...