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Showing posts from October 26, 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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Tether Trials Solution to Comply With FATF Travel Rule

Tether, the operator of one of the leading stablecoins in the crypto market has announced it will commence trials of a system that will allow the company to comply with the Financial Action Task Force (FATF) travel rule. The system, that is provided by Notabene, a company that offers ID and travel rule compliance solutions, will allow Tether to automatically communicate travel rule data between Virtual Asset Service Providers (VASPs). Tether Eyes Compliance Solution Tether, the company behind the issuance of the biggest stablecoin by market cap in the cryptocurrency market, USDT , will test trial a solution that will allow it to comply with the travel rule proposed by the Financial Action Task Force. The solution that will be tested, provided by Notabene, a software company that offers compliance solutions, will allow this information to be relayed between VASPs. Tether’s actions are directed to thwart bad actors using USDT to move funds coming from illicit or going to illegal so...
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Redditors cheer as GameStop assembles team of NFT experts

“Future creators won’t just build games but also the components, characters, and equipment. Blockchains will power the commerce underneath,” Gamestop’s Head of Web3 Gaming job listing reads. GameStop (GME) is assembling a team of blockchain and NFT experts to work on the firm’s upcoming NFT platform. The firm’s GME stock is a cult favorite amongst retail traders as a result of the r/wallstreetbets and Robinhood saga earlier this year. On Reddit the r/Superstonk community boasts 659,000 members, and is dedicated to hosting business and stock discussions related to GME. A post about GameStop’s job listings yesterday has received more than 10,000 upvotes at the time of writing, with many members posting bullish sentiments over GameStop’s latest move. GameStop quietly unveiled a bare-bones website for its NFT marketplace in May. The site currently features a Nintendo Gameboy-style gaming console with an Ethereum logo, along with a message calling out for recruits to work on the p...
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Citi's bullish Coinbase target: 'Buy crypto's general store'

Multinational investment bank thinks Coinbase stock is worth 30% more than its current price. Financial services multinational Citi initiated coverage of U.S. crypto exchange Coinbase’s stock this week with a very bullish price target. Citi analyst Peter Christiansen told investors that they could “buy crypto’s general store,” in a research note published on Tuesday, Oct. 26. Citi has given COIN a bullish price target of $415 which is substantially higher than Monday’s closing price of $319. The analyst stated that the stock offers investors “direct exposure to increased retail and institutional adoption of cryptocurrencies.” The multinational banking giant sees the potential in Coinbase as the company makes continued efforts to expand its operations beyond just a crypto exchange and into other areas such as NFTs and cold wallet storage. The company accrued more than a million applications for its NFT platform waiting list within a day or so of its announcement on Oct. 13. Chri...
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Puerto Rico sees resurgence of interest among crypto rich

Crypto capital is moving to Puerto Rico as tax regulations are much more favorable than in the U.S. proper. The United States territory of Puerto Rico is seeing a resurgence of interest among crypto investors attracted by the fact it doesn’t charge federal income tax and eligible investors can pay zero taxes on their crypto gains. Under local law Act 22, those who live in Puerto Rico for at least half of the year are exempt from taxes on interest, dividends and capital gains — meaning they can keep most or all of the profits from crypto or other investments without having to renounce U.S. residency. The popularity of the territory as crypto tax haven was highlighted when news stories emerged that Frances Haugen, the Facebooks whistleblower, had moved to Puerto Rico in March. But it's been a haven for crypto people for years, including Bitcoin billionaire Puerto Rico who owns a nine bedroom mansion there. Logan Paul, the social media personality and Cryptozoo founder, moved to...
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LBank: Focusing on Real Estate and Finance, SimbCoin Swap Is Making an Impact on the African Market

PRESS RELEASE. Blockchain that provides an environment of security, transparency and traceability is an innovative technology that applies in various kinds of life activities. For Africa, it is an opportunity for evolving and making changes. The SimbCity – SimbCoin Swap project, a solution for real estate and finance, is making an impact on the African market with the power of blockchain technology. The project could be viewed as two parts that complement each other, for the real estate part, there is SimbCity project that focuses on booming African tourism industry. In Africa, currently more than 63 million visitors are being received every year, and this number is expected to grow even larger by the year of 2027, which will be astounding 110 million. SimbCity project concentrates on real estate located on popular touristic area of Africa like Kribi, to ensure that it chooses the best locations with minimal expenses and supply reliability for each division. As for the finance part,...
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Solana-Based Drift Protocol Raises $3.8 Million — Project Reveals Drift Alpha Ticket NFTs

While the blockchain network Solana’s native token has skyrocketed in value this week jumping 31.4%, the Solana-based perpetual swap platform Drift Protocol announced it raised $3.8 million from strategic investors. At the same time, Drift announced the launch of its alpha mainnet after several months of “grind, hard work, debugging, building security guardrails.” Solana Perpetual Swap Exchange Drift Reveals Mainnet Launch, Raises $3.8 Million While centralized exchanges like Binance, FTX, Bybit, and Bitmex offer crypto-based perpetual swaps , decentralized finance (defi) competitors are aiming to take the large amounts of trading volume these trading platforms command. There are a number of decentralized apps (dapps) attempting to move forward in this direction like dYdX, Mango Markets, and MCDEX. On October 25, a Solana-based perpetual swap platform called the Drift Protocol launched its mainnet. “We successfully launched our mainnet at the Solana’s Chicago Hacker House, workin...
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New Bitcoin ETFs filed: One for bears, the other with ‘leverage for ants’

ETF issuers are getting creative with two new filings for inverse and leveraged funds. Exchange-traded fund issuer Direxion has filed for a product that would enable speculators to buy contracts that short the price of Bitcoin. In a filing made to the U.S. Securities and Exchange Commission on Oct. 26, the company unveiled the Direxion Bitcoin Strategy Bear ETF. Like other futures products, it will not invest directly in BTC, but will instead maintain managed short exposure position contracts issued by the Chicago Mercantile Exchange (CME). Direxion stated that the fund may invest in other BTC futures , money market funds, deposit accounts, or short-term debt instruments. However, the firm did issue a dire warning that the value of the product could go to zero. “The value of an investment in the Fund could decline significantly and without warning, including to zero. You should be prepared to lose your entire investment.” Bloomberg senior ETF analyst Eric Balchunas described it ...
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FTX buys Super Bowl ad slot to promote crypto to a TV audience of 92M

FTX exchange will advertise for the first time during the Super Bowl LVI to reach mainstream football fans. Cryptocurrency exchange FTX, has secured an advertisement spot in one of the most watched events in America — the championship game of the National Football League, to be held in Feb. 2022 According to a report in Bloomberg, FTX purchased an ad in this year’s Super Bowl LVI motivated by the wide reach of the audience. The Super Bowl is invariably the top rating TV program of the year, and accounts for 28 of the 30 highest rating broadcasts in U.S. TV history . Sam Bankman-Fried, founder and CEO of FTX exchange, has made football one of the priorities within a marketing strategy that focuses on sports as the fastest growing customer base for crypto adoption. He said: “There is no bigger, more mainstream event to share a message like that than the Super Bowl.@ Although the content of the ad or how much FTX paid hasn’t been disclosed, NBC’s going price for an ad at next year...
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Tesla Informs SEC It May Restart Transacting in Cryptocurrencies

Elon Musk’s electric car company, Tesla, has informed the U.S. Securities and Exchange Commission (SEC) in a quarterly filing that it may restart the practice of transacting in cryptocurrencies for its products and services. Tesla suspended accepting bitcoin in May, citing environmental concerns. Tesla May Resume Accepting Bitcoin, SEC Filing Shows Tesla Inc. filed a quarterly report with the U.S. Securities and Exchange Commission (SEC) Monday. The company explained that during the nine months ended Sept. 20, it “purchased an aggregate of $1.50 billion in bitcoin.” In its Q3 earnings report, Tesla’s balance sheet shows bitcoin worth $1.26 billion, after reporting bitcoin-related impairments in the past two quarters. The SEC filing further states that during the three months ended March 31, Tesla “ accepted bitcoin as a payment for sales of certain of our products in specified regions, subject to applicable laws.” However, the company noted that it “suspended this practice in M...
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Robinhood shares tank 10% after crypto revenue falls by three quarters

Robinhood posted $51 million worth of transaction-based revenue from crypto in Q3, marking a 78% decrease compared to the previous quarter. Robinhood shares (HOOD) have fallen sharply on the back of the firm’s Q3 results which posted lower than expected crypto trading revenue. The popular retail trading firm published its Q3 report on Oct. 26, with crypto accounting for $51 million (19%) of the total $267 million worth of transaction-based revenue in the quarter. The release of the report on Tuesday coincided with HOOD dropping around 10% to $35.70, however the price has since gained 1.9% to sit at $36.40 at the time of this writing. The $51 million generated from crypto transactions in Q3 marked a 78% decrease compared to the firm’s record $233 million from Q2. Robinhood’s crypto revenue last quarter was bolstered by the Dogecoin (DOGE) community, with the memecoin representing a whopping 62% of crypto revenue. The firm posted total net revenues of $365 million for the quarte...
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Coinbase CEO Says SEC v Ripple Case ‘Going Better Than Expected’ — Investors Hopeful XRP Will Be Relisted Soon

Coinbase CEO Brian Armstrong says the SEC v. Ripple case “seems to be going better than expected.” He added that the U.S. Securities and Exchange Commission “is realizing that attacking crypto is politically unpopular.” Coinbase’s CEO on the Ripple Lawsuit, SEC Attacking Crypto The CEO of the Nasdaq-listed cryptocurrency exchange Coinbase, Brian Armstrong, commented on the enforcement action against Ripple Labs by the U.S. Securities and Exchange Commission (SEC) Monday. Referencing a Forbes article titled “The crypto uprising the SEC didn’t see coming,” he tweeted: The Ripple case seems to be going better than expected. Meanwhile, the SEC is realizing that attacking crypto is politically unpopular (because it harms consumers). “The irony is that the people they are supposedly protecting are the ones attacking them,” the Coinbase boss added. Ripple CEO Brad Garlinghouse has made a similar statement regarding the SEC. Noting that the regulator is refusing to provide a clear fra...
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Germany Auctions Bitcoin Seized From Darknet: Bargain Hunters Flock to Buy Cheap BTC

German authorities are auctioning bitcoin seized from the darknet in cybercrime cases. The auction website reportedly experienced high traffic to bitcoin listings, with 4,000 new registered users over the past few days. German Government Auctioning Seized Bitcoin The Justice Ministry of North Rhine-Westphalia, Germany’s largest state by population, announced Monday an auction of bitcoin seized from criminal cases. Justiz Auktion, the auction website for the ministry, experienced high traffic to the bitcoin listings Monday after the prosecutors began listing the cryptocurrency on the site, Bloomberg reported, adding that the auction platform had 4,000 new registered users in the last few days. The bitcoins were seized in cybercrime and drug trafficking cases, mostly from the darknet, the publication conveyed. Prosecutors in Germany cannot sell seized cryptocurrencies on the market; they are required to auction them like any other seized stolen goods. The Ministry of Justice was qu...
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Expanding ecosystem and $1.86B futures open interest back Solana’s $250 target

Derivatives data shows institutional demand remains strong for SOL, and on-chain data points to a rally to $250. Solana (SOL) price is meeting resistance near its all-time high again, but solid fundamentals and the impressive growth of its decentralized finance (DeFi) and non-fungible token (NFT) ecosystem are likely to drive the altcoin above $250 before year-end. SOL/USDT 1-day chart. Source: TradingView Institutional investor interest is likely a key factor behind Solana’s impressive 490% gain since August. For example, SOL is the fourth largest Bitwise 10 Crypto Index Fund ($BITW) component, which overall is a $1.3 billion over-the-counter tradable market instrument. Traders should remember that this event is not necessarily positive since futures contracts require both a buyer (long) and a seller (short). Nevertheless, the increasing interest allows even more substantial players to participate. DeFi is gaining traction Solana’s two most prominent decentralized finance pro...
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26 companies and advocacy groups call on Valve to reverse its blockchain games ban

“The potential blockchain gaming ecosystem will grow to be orders of magnitude larger than it is now, by the end of this decade," said Enjin CTO Witek Radomski. Digital rights advocacy group Fight for the Future, the Blockchain Game Alliance, Enjin, and 26 blockchain game companies have called out video game corporation Valve for its decision to not allow content related to cryptocurrencies or nonfungible tokens through its Steam marketplace. According to an open letter published by Fight for the Future on Oct. 26, the companies and projects are requesting Valve reverse its decision to “prohibit an entire category of software from the Steam platform” and take a chance on crypto and blockchain technology. Steam updated its onboarding process for partners on Oct. 14 to stipulate no applications built on blockchain technology that “issue or allow exchange of cryptocurrencies or NFTs” would be permitted. “Blockchain games are pioneering a number of new concepts that will invigora...
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ASSEMBLE Protocol’s ASM Token Is Officially Listed on Coinbase and Gate.io

PRESS RELEASE. The revolutionary blockchain-based global point integration platform ASSEMBLE Protocol has announced the listing of its utility token ASM on Coinbase, which has been followed swiftly after the ASM-USD and ASM- USDT pairs were enabled on Coinbase Pro. It is highly expected that this development is going to further boost the global adoption of ASM token and also expose it to the larger potential user base across different countries with its latest listing developments. ASM Listed on Coinbase.com As the leading mainstream cryptocurrency exchange in the United States, Coinbase has become a standard on-ramp for new crypto investors. Coinbase is the NASDAQ listed cryptocurrency exchange, that offers a wide variety of products including cryptocurrency investing, an advanced trading platform, custodial accounts for institutions, a wallet for retail investors, and its own U.S. dollar stable-coin. Coinbase has recently released an announcement that it now supports the ASM-USD...
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Finder’s Panel of Fintech Experts Predict Ethereum Will Reach $5,114 This Year, Over $50K by 2030

At the end of July, the product comparison website Finder.com published its research findings from a panel of experts that predicted the crypto asset ethereum would reach $4.5K this year. On October 25, Finder updated its “Ethereum Price Predictions Report” that polled 50 financial technology specialists and ethereum is now expected to reach “$5,114 by the end of this year.” Finder’s Panel Suggests Ethereum Will Be Over $5K by Year’s End Finder, an investing companion application and product comparison website, has published numerous surveys and panel forecasts concerning the growing cryptocurrency economy. The comparison website’s researchers delve into a variety of different crypto assets like bitcoin ( BTC ), litecoin ( LTC ), and ethereum ( ETH ). Last July, Finder’s researchers polled experts in the financial technology (fintech) sector and the group predicted that ether would reach $4.5K by the year’s end and $18,000 by the year 2025. On Monday, Finder.com’s Tim Falk and Ric...
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Everipedia VORTECS™ Score hits record high ahead of upcoming NFT drop to IQ stakers

The VORTECS™ Score for IQ surged to a record high shortly before Everipedia announced that token stakers would receive special NFTs. In the world of technical analysis, any tool that gives the trader insight into the next possible market move is highly valued because an early signal of impending price action can turn an average trade into a multibagger. In a rare occurrence, Cointelegraph Markets Pro  just posted a VORTECS™ score of 98, one of the highest scores ever recorded, for an altcoin called. Everipedia (IQ). The project is a blockchain-based encyclopedia that has the vision of creating “a world where all knowledge is available to all people.” VORTECS™ Score (green) vs. IQ price. Source: Cointelegraph Markets Pro While the VORTECS™ Score is simply an indicator and does not guarantee any specific outcome in regards to the scores that it provides, previous instances of scores above 95 have often been followed by significant price increases in the associated asset. The ...
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Adobe offers users the ability to verify NFT marketplace creations through metadata

The software company's Content Credentials can add an NFT creator’s wallet address and social media information to the metadata of tokens listed on the marketplace. Many nonfungible token marketplaces are allowing digital collectors to identify artwork based on the wallet address of the creator through a partnership with software giant Adobe. In an Oct. 26 announcement, Adobe said it would be partnering with major nonfungible token, or NFT, marketplaces including OpenSea, KnownOrigin, and SuperRare to allow users to verify the authenticity of the digital content. Adobe’s Content Credentials can add an NFT creator’s wallet address and social media information to the metadata of tokens listed on the marketplace. "This partnership furthers our commitment to empowering users with more tools as we collectively rethink how we transfer digital goods on the internet,” said an OpenSea spokesperson. “Working in tandem with market leaders like Adobe and the growing NFT community, we...
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Helium partners with Dish Network to expand its crypto-based distributed 5G platform

Helium announces a new partnership with Dish Network which will further extend its 5G network in exchange for HNT rewards. The ultimate goal of any cryptocurrency project is to achieve widespread adoption by offering a use case that offers real-world value that can be applied across the globe and in every home.  One project that just revealed a significant stride towards greater adoption thanks to its user-run wireless network is Helium, a 5G Internet-of-Things-focused project, which revealed a new partnership with Dish Network on Oct. 26. Today we take another huge step for @Helium 5G with the announcement of a new partnership between @DISH and Helium Inc! DISH is the first major carrier to join #ThePeoplesNetwork , expanding coverage with customers deploying 5G Hotspots. Read the blog: https://t.co/FjVsnd7zXv . — Helium (@helium) October 26, 2021 According to the announcement, the partnership will offer Dish Network subscribers the opportunity to run Helium nodes...
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US regulators are exploring policy for banks to handle crypto, says FDIC chair

“Establishing clear regulatory expectations will be paramount to give this market an opportunity to grow and mature in a responsible manner,” said Jelena McWilliams. Jelena McWilliams, the chairperson of the Federal Deposit Insurance Corporation, or FDIC, has said the agency is working with other regulators in the United States to explore “under what circumstances banks can engage in activities involving crypto assets.” In a speech at the Money20/20 fintech conference on Oct. 25, McWilliams said the FDIC, in coordination with the Federal Reserve and the Office of the Comptroller of the Currency, is looking to provide regulatory clarity for banks handling crypto assets including stablecoins. The chairperson said the FDIC planned to issue “a series of policy statements” in the coming months on guidance for banks. According to McWilliams, stablecoins have many potential benefits to consumers, such as faster, cheaper, and more efficient payments. However, she claimed that if “one or m...
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Roughly 11,000 entities represent 55% of Bitcoin’s on-chain volume

The report also found that one-tenth of all Bitcoin miners control 90% of network hash rate. Researchers have found that roughly 11,000 entities are responsible for more than half of Bitcoin’s on-chain volume. According to a study published by the National Bureau of Economic Research (NBER) on Oct. 21, 11,043 on-chain entities represent 55% of volume on the Bitcoin network. Cryptocurrency exchanges were estimated to account for three-quarters of on-chain volume. The report found that the top 1,000-largest investors control roughly 3 million BTC or 15.9% of circulating Bitcoin, while the next 9,000-largest investors hold roughly 2 million BTC combined or 10.6% of circulating Bitcoin. The report’s authors conclude that the network remains highly centralized despite the surge of new investors enticed by BTC’s 2021 bull market, stating: “The Bitcoin ecosystem is still dominated by large and concentrated players, be it large miners, Bitcoin holders or exchanges.” However, the study ...
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