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Showing posts from October 3, 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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The History of DeFi Revised: Marnotaur NFT Collection Public Launch Date Set for October 4th

PRESS RELEASE. Right after the Marnotaur DeFi leverage platform announced the extremely quickly completed of its Marnotaur NFT collection presale, the team announced that the collection would go public. The date for the sale has been set for October 4th on the official website https://nft.marnotaur.com/ and there are expectations in the community that it will not last long. In this article, you get a look at the design, utility and sustainability of the collection’s tokenomics model. Created by NFT256, inspired by Bullish DeFi Cycle (which will bring BTC to $100,000) The first release of the Marnotaur NFT collection contains 2,775 uniquely designed creatures – Marnotaurs . The collection is issued in squadrons of 555 NFTs. Every NFT is designed and created by members of the renowned artistic community – NFT256. This group unites talented people from all over the world, artists who are interested in modern technology but are still in love with art. NFT256 artists collaborate with...
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Cryptocurrencies Have ‘No Intrinsic Value’ Says South African Hedge Fund Guru

Jean-Pierre Verster, the founder of a South African hedge fund Protea Capital Management, has said he does not believe there is “intrinsic value” in cryptocurrencies. He insists that cryptocurrencies have “elements of a Ponzi scheme” and for that reason, he has not invested in them. A ‘Wonderful Technology’ In remarks made during an interview , Verster however appears to adopt a stance on blockchain technology that is similar to that of cryptocurrency opponents. He explained: I think the technology of blockchain is a wonderful technology. And will find applications when it comes to having open ledgers – when it comes to transactions that you need to make sure are captured somewhere or recorded somewhere in a way that people can’t after the facts – fiddle with those recordings. For that blockchain is great. Although he points to foreign exchange restrictions and hyperinflation as some of the legitimate factors that contribute to the popularity of cryptocurrencies, Verster still a...
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El Salvador introduces fuel subsidy of $0.20 per gallon to locals who pay in BTC

El Salvador is looking to bolster adoption of its government-issued Chivo Bitcoin wallet by offering discounts on petrol purchases of $0.20 per gallon to consumers who pay using BTC. Salvadoran president Nayib Bukele has announced that local consumers can enjoy a $0.20 per gallon reduction in petrol prices when paying using the government-backed Bitcoin wallet , Chivo. Describing the news as “positive news for the pockets of Salvadorans,” the president announced the subsidy via Twitter on Sept. 30. According to a rough translation, Bukele stated : "The state company Chivo negotiated with the largest gas station companies in our country, so that starting tomorrow, their stations will sell each gallon of fuel $ 0.20 cheaper, with Chivo wallet." Bukele emphasized that there is no limit to the discount and that any local person or company can access the rebate. He added that the discount will erase “several increases in the international price of fuels” and “reduce transport...
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Russia, US in Top 3 for Crypto-Related Threats, Cybersecurity Report Unveils

Threats related to cryptocurrency have followed prices, decreasing significantly after the market slump in May, suggests a recent report released by a leading internet security firm. Detections fell by almost a quarter but Russia remains the most affected country, with the U.S. ranking in the top three as well. ESET: 1 in 10 Crypto-Focused Threats Detected in Russia Software threats in the crypto space, mining malware in particular, are quite dependent on developments in the cryptocurrency market, cybersecurity company ESET has concluded in its Threat Report T2 2021. However, the drop in cybercriminal activity surrounding cryptocurrencies “does not mean that all was quiet,” note the authors of the study, covering the second third of the year, and add: Cryptocurrency investments scams, in which con artists lure their unsuspecting victims to fake investment websites or impersonate government authorities and even celebrities, are more popular than ever. Victims lost at least $80 mi...
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Compounding problems: $65m more COMP at risk as devs wait for time-locked bug fix

While Compound’s developers submitted a fix for the protocol’s bug on Sept. 30, the update won’t take effect until a seven-day time-lock on code updates has passed. Major DeFi money market Compound’s woes are worsening, with nearly $150 million worth of COMP now at risk due to a buggy upgrade to the protocol that went live last week. On Sept. 30, Cointelegraph reported that a bug had resulted in between $70 million and $85 million worth of COMP tokens being mistakenly offered to users as rewards after an update intended to fix bugs and “split COMP rewards distribution” went awry. Despite the reward distribution error being identified quickly, Compound’s week-long delay on enacting new governance measures meant that the error will not be fixed until Oct. 7. On Oct. 3, Compound founder Robert Leshner tweeted that 202,472.5 COMP (worth approximately $65 million) had been placed at risk after the protocol’s drip function was called for the first time in roughly two months. The drip ...
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Virgin Galactic Chairman Chamath Palihapitiya Says Bitcoin Has Replaced Gold

Virgin Galactic’s chairman and CEO of Social Capital, Chamath Palihapitiya, says bitcoin has effectively replaced gold. Having predicted that the price of the cryptocurrency would hit $200,000, the executive said bitcoin’s “market cap is just going to grow.” Palihapitiya: ‘I Can Pretty Confidently Say That Bitcoin Has Effectively Replaced Gold’ Virgin Galactic Chairman Chamath Palihapitiya talked about bitcoin in an interview with CNBC at the Delivering Alpha Conference last week. The billionaire executive is also the founder and CEO of Social Capital. Earlier this year, Palihapitiya predicted that the price of BTC would hit $200K in about five years. Commenting on his price prediction, he said Wednesday: It’s very hard for me sitting here to give you a price prediction, but I can pretty confidently say that bitcoin, I think, has effectively replaced gold. And it will continue to do so. And so that market cap is just going to grow. The price of bitcoin is $48,093 and its marke...
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Coinbase Meeting With US Lawmakers to Discuss Crypto Regulatory Proposal

The Nasdaq-listed crypto exchange Coinbase has been meeting with members of Congress to discuss the cryptocurrency regulation it plans to propose, according to CEO Brian Armstrong. In addition, the company has met with more than 30 crypto firms, four major law firms, and three trade groups about its crypto proposal. Coinbase Meeting Congress Members and Crypto Firms on Regulatory Framework for Crypto Coinbase is on a mission to influence crypto regulation in the U.S. CEO Brian Armstrong tweeted Thursday: We’ve now met with 30+ crypto firms, 25+ members of congress and/or staff, 4 major law firms, and 3 trade groups about our regulatory proposal for crypto. Our policy team is doing great work and we’re trying to be part of the solution. Armstrong first revealed that his company was preparing a draft regulatory framework to submit to lawmakers in an interview at Techcrunch Disrupt 2021 on Sept. 22. He said that he expected to begin distributing the crypto regulatory proposal this ...
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Top 5 cryptocurrencies to watch this week: BTC, LUNA, ATOM, XTZ, AXS

Bitcoin’s strong recovery to $49,000 has boosted bullish sentiment and it may provide further incentive for LUNA, ATOM, XTZ and AXS to rally in the short term. The sentiment in the crypto markets can change quickly as seen from the Crypto Fear and Greed Index, which has risen from levels of extreme fear on Sept. 30 to neutral today. The sentiment may improve further if Bitcoin ( BTC ) breaks out and sustains above the psychologically critical level at $50,000. One important event that may boost short-term sentiment is the U.S. Securities and Exchange Commission’s (SEC) decision on Bitcoin exchange-traded fund (ETF) applications. Although the SEC extended the deadline of four Bitcoin ETF applications by 45 days on Oct. 1, Bloomberg’s senior ETF analyst Eric Balchunas is hopeful that a futures-backed  Bitcoin ETF may receive the green signal  by the middle of October. Crypto market data daily view. Source: Coin360 Balchunas said the Bitcoin futures-based ETF application...
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Laos to Study Digital Currency With Help From Japanese Fintech, Report Reveals

The central bank of Laos intends to explore issuing its own digital currency, according to a media report that provided details on the plan. A study on the matter will commence soon and will be conducted with the support of a fintech startup based in Japan. Central Bank of Laos Joins Race to Develop Digital Fiat The Bank of the Lao People’s Democratic Republic is going to launch the study focused on the development of a central bank digital currency ( CBDC ) as early as this month, Nikkei Asia unveiled on Sunday. The monetary authority has employed the Japanese fintech firm Soramitsu which was involved in a similar project in neighboring Cambodia. The report of the collaboration comes out after Laos recently signed a memorandum of understanding with the Japan International Cooperation Agency. Soramitsu, a company specializing in blockchain finance, took part in the establishment of the Bakong digital payment system in Cambodia designed to reduce the country’s dependence on the U.S....
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Bitcoin price surge to $49K prompts several altcoins to hit new all-time highs

AXS, LUNA and a handful of altcoins rallied to new highs shortly after Bitcoin price rallied to $49,200. On Sunday bulls made their intentions clear by briefly pushing Bitcoin ( BTC ) price above the $49,000 level, a move that prompted many traders on crypto Twitter to call for the top-ranked digital asset to knock down the psychological resistance at $50,000. Data from Cointelegraph Markets Pro and TradingView shows that after trading in a range with an upper limit near $48,200 for several days, bulls managed to break higher and climb to an intraday high at $49,242, capping a 20% rally since trading at a low of $40,890 on Sept. 29. BTC/USDT 4-hour chart. Source: TradingView The weekend gains for Bitcoin come following a rollercoaster week that began with the markets struggling for momentum after a renewed regulatory crackdowns in China weighed on the market's sentiment. By the end of the week, some positive news came from Federal Reserve chair Jerome Powell who confirmed...
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Money in 2030: A future where DeFi and CBDCs can work together

In coexistence with mutual benefits, decentralized finance and central bank digital currencies will finally make money universally available worldwide. Decentralized finance (DeFi) is changing the way that people all over the world think about money faster than any previous financial revolution. Banks, which have monopolized the way we’ve accessed money since antiquity, are finally seeing their status being challenged. Now, it’s DeFi which is starting to provide an alternative that could turn the economic landscape on its head and democratize access to finance. This seismic shift in power away from governments and banks and towards real people is long overdue, particularly in developing nations where DeFi is already emerging as a tool for remittances and small loans. Financial inclusion is another significant advantage that DeFi can deliver, particularly when 1.7 billion adults remain unbanked. Related: The great unbanking: How DeFi is completing the job Bitcoin started The gro...
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Salvadoran President Nayib Bukele Says Citizens Paying for Gas With the Chivo Wallet Will Get a Discount

The Salvadoran president, Nayib Bukele revealed on Friday that Chivo wallet users will be able to get a discount on petroleum fill-ups at the largest gas stations in the country. Chivo wallet users paying for fuel will save $0.20 per gallon using the government’s crypto wallet. Salvadoran President Nayib Bukele’s Government Subisidizes Country’s Gasoline Market Following the Salvadoran president, Nayib Bukele revealing the volcano-powered bitcoin mining facility last week, this Friday, Bukele told his Twitter followers about two positive implementations the government has enacted. To start, Bukele explained that he signed a decree that authorizes a fund to stabilize the price of gas in El Salvador. He noted that gas prices were expected to increase but his decree has stopped the increase. In fact, gas prices will see a “slight reduction,” Bukele stressed. “The Government will absorb the increases that are taking place in the international market for one year,” the Salvadoran pres...
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US Lawmakers Urge Fed Chair Jerome Powell to Support Crypto Innovation

Several U.S. lawmakers have called on Federal Reserve Chairman Jerome Powell to support cryptocurrency innovation. “The Federal Reserve must work to support domestic innovation … Our government should never be in the business of thwarting innovation.” Members of Congress Urge Fed Chair Powell to Support Crypto Innovation Several U.S. Congress members have sent a letter to Fed Chair Jerome Powell asking him several questions regarding the Fed’s effort on cryptocurrency regulation. The bipartisan letter is signed by Reps. Tom Emmer, Darren Soto, Frank Lucas, Ted Budd, Ro Khanna, Glenn “GT” Thompson, and Eric Swalwell. Rep. Emmer described: Empowering individual Americans to become everyday investors should be our highest priority – decentralized digital assets provide that opportunity. The Federal Reserve must work to support domestic innovation … Our government should never be in the business of thwarting innovation. The congressman explained that his letter “highlights concern...
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Beyond Bitcoin: The future of digital assets is bigger than the first crypto

While Bitcoin is the most recognizable digital asset, it’s just one asset class among many that are here to evolve financial services globally. While change is guaranteed, the scale and scope of that change are not. For the financial industry, blockchain — the technology that undergirds Bitcoin ( BTC ), Ether ( ETH ), nonfungible tokens (NFTs) and other digital assets — has brought us to the crossroads.  What will the future of money look like? We have been operating on the frontline of crypto for the past 10 years, protecting large and small investors alike while allowing them to invest in this exciting new frontier of finance. The experience we’ve gained here helps us to see what’s coming down the road. In this historical period, a myriad of outcomes is possible but one thing is for certain: The efficacy and innovation of the technology will influence well beyond traditional financial sectors. The mature digital assets industry is coming Blockchain offers a faster, more e...
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Joe Biden: US Bringing 30 Countries Together to Stop ‘Illicit Use of Cryptocurrency’

President Joe Biden says that the U.S. will bring together 30 countries to stop “the illicit use of cryptocurrency.” The United States is “partnering closely with nations around the world” to respond to the cybersecurity threats, Biden further said. US Will Bring 30 Countries Together to Combat Illicit Use of Crypto, Says Biden The White House released a statement by President Joe Biden Friday on the government’s cybersecurity efforts as October is Cybersecurity Awareness Month. President Biden explained that the U.S. is “partnering closely with nations around the world” to respond to the cybersecurity threats, “including our NATO allies and G7 partners.” He added that this month: The United States will bring together 30 countries to accelerate our cooperation in combating cybercrime, improving law enforcement collaboration, stemming the illicit use of cryptocurrency, and engaging on these issues diplomatically. “The Federal government needs the partnership of every American an...
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6 Questions for Lisa N. Edwards of Getting Started In Crypto

We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and we throw in a few random zingers to keep them on their toes!   This week, our 6 Questions go to Lisa N. Edwards, a cryptocurrency trading specialist who runs and co-owns Getting Started In Crypto. Lisa is an Elliott Wave specialist trader with 20-plus years of experience in traditional stocks and commodities, now exclusively trading cryptocurrency. She runs and co-owns Getting Started In Crypto, Thousand To Millions and The Moon Mag with Josh Taylor. Lisa is widely experienced, with previous business ventures including Satoshi Sisters, Trading Places VIP, D4.Partners and CoinRunners. Outside of trading, Lisa has a flourishing career in the media and film industries, with a cryptocurrency-themed screenplay titled CoinRunners, which she anticipates will be filmed in late 2021.   1 When you tell people youre in the blockchain industry, how do they react? Does anyone s...
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The Founder of Wallstreetbets Jaime Rogozinski Discusses Defi, NFTs, and Crypto Regulation

In 2021, the subreddit forum r/wallstreetbets, also known as Wallstreetbets (WSB) became an extremely popular forum after the members played a major role in the Gamestop short squeeze escapade. In recent times, the founder of WSB, Jaime Rogozinski has been behind a new decentralized finance project called the Wallstreetbets Dapp (wsbdapp.com). Rogozinski spoke with Bitcoin.com News this past week and he discussed the Wallstreetbets Dapp and how traditional and crypto finance are spilling over into each other. Wallstreetbets Collides With Decentralized Finance Just recently, Bitcoin.com News chatted with Jaime Rogozinski, the founder of the infamous Wallstreetbets forum. These days, Rogozinski is very focused on defi and the WSB founder is now behind a new defi project called the Wallstreetbets Dapp ( wsbdapp.com ). Rogozinski discussed the project with Bitcoin.com News in great detail, in order to give our readers some perspective of the decentralized app , exchange-traded portfoli...
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