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Showing posts from November 1, 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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‘Bitcoin Is Worth Zero’ — Kenyan Communication Strategist Warns African Investors to Be Wary

A Kenyan communications strategist, Mwotia Ciugu, has told African investors to be wary of investing in bitcoin which he claims is worth zero. Bitcoin Structurally Incapable of Delivering on Its Promise In an op-ed published by The Elephant, Ciugu insists bitcoin (BTC) is structurally incapable of delivering on its promise of becoming an alternative store of value or a hedge against inflation. In addition, the strategist also claims bitcoin fails both as a currency and an investment. Although he concedes that Africa has one of the highest cryptocurrency adoption rates , Ciugu cautions, however, that the top cryptocurrency’s volatility and scalability issues mean it cannot act as a currency. Ciugu is quoted explaining: Bitcoin fails as a currency because of two things: volatility and scalability concerns. In its 12 years of existence, bitcoin has maintained extremely high levels of volatility i.e. 60 per cent to 100 per cent annualized. To further support this point, Ciugu mak...
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Argo Blockchain mines record 597 BTC during Q3 2021

Argo Blockchain pocketed a record revenue of $26 million for the third quarter after mining nearly 600 BTC. Cryptocurrency mining firm Argo Blockchain has just released its Q3 financial report detailing record setting revenues for the period. The London headquartered company reported that it had mined 597 BTC and “BTC equivalents” during the third quarter of 2021. At current prices, Argo’s Bitcoin haul would be worth roughly $36.5 million. As of Sept. 30, the firm had amassed holdings of 1,836 BTC (roughly $113 million at current prices). Argo also reported a gross margin of 120% and a mining net margin of 85%, estimating it cost the firm just $6,293 to mine each Bitcoin on average. Overall, the firm generated a record revenue of $26 million and pocketed $17.3 million in net profits. For the nine months ending on Sept. 30, the firm’s revenue and net income were $67.9 million and $27.1 million respectively. In the first half of 2021, Argo reported a revenue of $42.3 million. CEO...
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Ethereum sees first consecutive week of deflationary issuance

More than $65 million worth of ETH is currently being burnt daily by the Ethereum network. The Ethereum network has seen its first consecutive week of negative supply issuance as bubbling markets drive persistently high transaction fees. With the highly anticipated London upgrade introducing a burn mechanism into Ethereum's fee market in early August, a small quantity of Ether has since been destroyed with every transaction executed on the network. With gas prices sustaining at high levels, Ethereum has seen seven consecutive days of deflationary issuance for the network, meaning that more ETH has been removed from supply than created through mining.In order for Ethereum to consistently produce deflationary blocks, gas prices must consistently remain roughly above 150 gwei. EthHub co-founder Anthony Sassano commented that deflationary Ethereum was not expected until “the merge” — when the Ethereum blockchain is set to merge with Eth2’s Beacon Chain, which is currently expect...
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Aussie firm to launch $100M class action over dodgy QOIN token

The issuers of the Australian token QOIN are set to face a $100 million lawsuit accusing them of pyramid selling and fraud. The issuer of a controversial cryptocurrency that can only be sold in batches of $125 daily on a single exchange is facing pushback from an Australian law firm. Queensland-based law firm Salerno Law plans to file a lawsuit accusing BPS Financial Limited — the company behind the QOIN token — of engaging in misleading and deceptive conduct, pyramid selling of financial products, and failing to comply with financial services regulations. The lawsuit will seek $100 million in damages. Salerno Law, which specialises in crypto disputes, started collecting expressions of interest from investors and merchants who had incurred losses as a result of the seemingly arbitrary limits placed on QOIN sellers last week. QOIN tokens are issued on the company’s proprietary Qoin blockchain. As such, QOIN is not supported by decentralized exchanges, and can only be swapped using...
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Goldman Sachs Predicts Ethereum Could Hit $8,000 This Year

Global investment bank Goldman Sachs is reportedly predicting that the price of ether could rise to $8,000 by year-end. The bank’s analysts explained that cryptocurrencies have traded in line with inflation breakevens since 2019. Ether Could Reach $8K by Year-End, According to Goldman Sachs Goldman Sachs has reportedly explained in a research note circulated by the bank’s managing director of Global Markets, Bernhard Rzymelka, that the price of ether ( ETH ) could hit $8,000 by year-end. The note details that cryptocurrencies have traded in line with inflation breakevens since 2019, according to Zerohedge. Referencing a chart showing the Bloomberg Galaxy Crypto Index (red) on a log axis and the USD 2-year forward 2-year inflation swap (blue), Goldman’s analysts noted that “the local backdrop looks supportive for ethereum.” The analysts added: “It has tracked inflation markets particularly closely, likely reflecting the pro-cyclical nature as ‘network based’ asset. And the lastes...
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Genesis Digital Assets announces new data center in Texas

Genesis Digital Assets' new Bitcoin Texan mining center will have a capacity of 300 megawatts. Major U.S.-based Bitcoin (BTC) mining firm Genesis Digital Assets is building a new data center in West Texas.  According to the firm’s Nov.1 announcement , the new industrial-scale BTC mining data center will have a capacity of 300 megawatts and will operate using unspecified “sustainable infrastructure.” Its energy will be sourced from the Electric Reliability Council of Texas (ERCOT). As part of the announcement, Genesis co-founder and executive chairman Abdumalik Mirakhmedov emphasized that “sustainability” is a key part of the firm’s plans for “rapid expansion.” ERCOT supplies more than 26 million customers in Texas with electricity. As of April this year, 42% of its energy supply was sourced  from wind and solar. Genesis is one of the largest Bitcoin miners in the U.S., with the firm estimating it has mined more than $1 billion worth of BTC since its launch in 2013. As of...
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Top U.S. banks offer big incentives to lure crypto talent

LinkedIn reports that site-wide job listings relating to crypto are up more than 600% since August last year. Top U.S.-based banks and financial institutions have filled more than 1,000 positions for crypto experts in the past three years. According to a Nov. 1 report from Bloomberg, financial institutions are offering significant bonuses to attract crypto talent, with human resource consultant Johnson Associates estimating that crypto positions pay salaries that are between 20% and 30% higher than comparable positions not related to digital currency. The firm added that many senior crypto roles benefit an up to 50% bump in salary over comparable positions, with managing director Alan Johnson concluding: “The banks can’t run the risk that their clients go to another bank to do these services, so they need to build up.” Research firm Revelio Labs analyzed 287 crypto-related hirings from Goldman Sachs, Wells Fargo, Fidelity, and JPMorgan Chase — the four largest employers of digit...
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Crypto Exchange Kraken to List Shiba Inu Tomorrow — SHIB Investors Expect Price to Pump

Cryptocurrency exchange Kraken has indicated that the shiba inu (SHIB) cryptocurrency will be listed on its platform on Tuesday. The dogecoin rival has gained much popularity recently, rising 97% in the past seven days and 825.5% in the last 30 days. Kraken Indicates Shiba Inu Will Be Listed on Its Platform Tuesday Cryptocurrency exchange Kraken tweeted Monday about listing the shiba inu cryptocurrency (SHIB) on its platform. According to the San Francisco-based exchange, the company’s product lead, Brian Hoffman, said if the tweet gets 2K likes, Kraken will list shiba inu Tuesday. At the time of writing, the tweet has been liked 45.1K times and retweeted 11.6K times. Founded in 2011, Kraken says it is the world’s largest global digital asset exchange based on euro volume and liquidity. Globally, its client base trades more than 60 digital assets and seven different fiat currencies, including EUR, USD, CAD, GBP, JPY, CHF, and AUD, its website details. Kraken was the first U.S. cry...
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AWS Seeks a Specialist to Develop Amazon’s ‘Digital Currency and Blockchain Strategy Roadmap’

This past summer the American multinational technology company, Amazon, published two job listings for a blockchain lead and a digital currency expert. Now Amazon Web Services (AWS) is looking for a principal digital assets specialist that can “help drive adoption across the global digital asset community.” AWS Is Looking for a Principal Digital Assets Specialist One of the ‘Big Five’ tech companies, Amazon, has shown signs of interest in cryptocurrency solutions and blockchain technology for quite some time now. For instance, on May 26, 2020, the company patented a “distributed ledger certification” protocol. In February 2021, the e-commerce giant posted a job listing for a software development manager to lead a blockchain pilot project located in Mexico, alongside Amazon’s “Digital and Emerging Payments” division. This past June, the company’s employment portal said Amazon was seeking a blockchain expert in order to create “business use cases across decentralized finance (defi...
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NFL quarterback Aaron Rodgers will accept part of $22M salary in Bitcoin

The Green Bay Packers player's total salary would be worth roughly 368.8 BTC at a price of $60,636. Aaron Rodgers, quarterback for the Green Bay Packers football team, has said he will be taking part of his National Football League salary in Bitcoin. In a video posted to his Twitter account on Nov. 1, Rodgers — dressed as fictional character John Wick, likely for Halloween — said he would be partnering with Cash App to take a portion of his salary in Bitcoin ( BTC ). The NFL reported in July that Rodgers would be earning a $1.1 million base salary on top of a $14.5 million signing bonus and a $6.8 million roster bonus from March, totaling roughly $22.3 million. I believe in Bitcoin & the future is bright. That's why I’m teaming up with Cash App to take a portion of my salary in bitcoin today. To make Bitcoin more accessible to my fans I’m giving out a total of $1M in btc now too. Drop your $cashtag w/ #PaidInBitcoin & follow @CashApp pic.twitter.com/mstV7eal0...
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The Recording Academy and OneOf announce Grammy Awards partnership

The Grammy awards will be accompanied by exclusive NFT drops for the foreseeable future. The Recording Academy and OneOf, a green NFT marketplace backed by legendary record producer Quincy Jones, announced an exclusive partnership centered around the next three years of Grammy Awards in an unsigned statement on the Grammy.com website. Details on specific NFT collections will be released in January, but will celebrate both the awards themselves and nominees / recipients. Some of the money from the sale of the assets will go towards funding the Recording Academy scholarship fund. OneOf, built on the Tezos blockchain, is specifically designed with musicians and listeners in mind. Recording Academy co-president Panos A Panay said: "As an Academy, we are always looking for ways to help artists discover new forms of creative expression, while also creating new ways of income generation and ways for fans to interact with the artists that they love. OneOf shares that vision, and we a...
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Upcoming parachain auctions send Polkadot to new ATH, while CHR and THETA follow

DOT hits a new all-time high as the project’s parachain auctions approach and the ever-expanding Metaverse could be behind the gains seen in CHR and THETA. "Uptober" is over but as Zhu Su tweeted earlier today, the crypto market rally could extend through "Upvember, Upcember" and beyond. The month of October was stellar for Bitcoin ( BTC ) and Ether ( ETH ) primarily because each hit new all-time highs and even though the prices are consolidating now, traders are still wildly bullish.  Uptober, Upvember, Upcember — Zhu Su (@zhusu) November 1, 2021 The steady emergence of the Metaverse is also driving excitment within the crypto sector as it promises to be one of the driving forces behind development in the cryptocurrency space. The concept of a Metaverse is also impacting the "real world", a prime example being Facebook's recent rebranding of to ‘Meta’ . As the market heads into the month of November and bullish expectations run hot, let's ...
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Sorare CEO shares bold vision on NFTs during Web Summit 2021 opening night

The co-founder of the French tech unicorn discussed major innovations that could come as a result of developments in the NFTs industry. Web Summit 2021, the biggest tech conference in the world, kicked off on Monday in Lisbon, Portugal, and will last until Nov. 4, 2021. In an opening statement, Carlos Moedas, the Mayor of Lisbon, said that "My dream is that Lisbon will be the capital of innovation in the world." Meanwhile, João Leão, the Minister of Finance of Portugal, stated: "Portugal is the country people come to invest, to do business and to look live, and to do so in a manner that is open to different cultures." Notable guest speakers included Facebook whistleblower Frances Haugen, Black Lives Matter co-founder Ayo Tometi, and Nicholas Julia, co-founder and CEO of French non-fungible token, or NFT, fantasy gaming company Sorare. NFTs are digital certificates of ownership representing artwork, images, videos, music, and more. They are stored in one's ...
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eNaira slowly gains traction post-launch amidst glitches

Nigerian government officials have big expectations regarding the eNaira. The rollout of the world's second central bank digital currency, or CBDC, is off to a rocky start. Last week, Nigeria rolled out its eNaira CBDC after the Bahamas became the first country in the world to launch theirs, known as The Sand Dollar, the year prior. In a statement quoted by local news outlet The Nation, Central Bank of Nigeria, or CBN, Governor Godwin Emefiele said "overwhelming interest and encouraging response". Similarly, President Muhammadu Buhari estimates that the eNaira could generate an additional $29 billion in economic activity over the next decade, citing the possibility of direct government welfare payments via the digital currency. According to Emefiele, since its launch on Oct. 25, 33 banks, 2,000 customers, and 120 merchants have signed up for the platform. The app is available on both Apple and Android. Over 200 million worth of eNaira ($602,959 USD) has since been i...
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Bitcoin Mining Operation Genesis Digital Assets Announces New Data Center in West Texas

Following a number of ASIC mining rig acquisitions from the manufacturer Canaan, the bitcoin mining operation Genesis Digital Assets announced on Monday that the firm is developing an industrial-scale bitcoin mining data center in West Texas. According to the announcement, Genesis says that the new facility will have 300 megawatts of capacity with a “low carbon footprint.” Genesis Announces New Bitcoin Mining Facility With 300 Megawatts of Capacity The mining firm Genesis Digital Assets has announced the launch of a new bitcoin mining facility that will be located in West Texas. The Genesis data center will get energy from the Electric Reliability Council of Texas (ERCOT). The entity ERCOT is a large power supplier in Texas and statistics say the firm supplies 90 percent of the state’s electric load. Genesis stresses that the new data center with 300 megawatts will showcase “sustainable infrastructure, high efficiency, and a low carbon footprint.” The Texas facility announcement f...
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US Treasury report says stablecoin legislation is 'urgently needed' to address risks

The group said stablecoin issuers should be held to the same standards as insured depository institutions including state and federally chartered banks. The President’s Working Group on Financial Markets, or PWG, has released a report suggesting that stablecoin issuers in the United States should be subject to “appropriate federal oversight” akin to that of banks. A Nov. 1 U.S. Treasury  report from the group with the Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation said Congress should “act promptly to ensure that payment stablecoins are subject to appropriate federal prudential oversight on a consistent and comprehensive basis.” The government agencies said stablecoin issuers should be held to the same standards as insured depository institutions including state and federally chartered banks and savings associations as they protect customers’ deposits and limit “any potential negative systemic impacts in the event of bank failure.” The repo...
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Institutional managers bought $2B worth of Bitcoin in October

October was a record-breaking month for BTC funds, thanks to the approval of two futures-linked ETFs in the United States. Institutional inflows into Bitcoin ( BTC ) products picked up sharply in October, underscoring renewed bullish sentiment surrounding the flagship cryptocurrency.  Crypto investment products saw inflows totaling $288 million for the week ending Oct. 31, with Bitcoin accounting for $269 million, according to CoinShares’ weekly flows report. Institutional demand for BTC has been picking up gradually over the past few months amid expectations that the United States Securities and Exchange Commission, or SEC, would approve its first Bitcoin exchange-traded fund. Those expectations came to fruition last month with two Bitcoin-linked products hitting the market . The ProShares Bitcoin Strategy exchange-traded fund (ETF), which launched officially on Oct. 19, generated $1 billion in assets under management in its first two days,  becoming the fastest fund ...
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Price analysis 11/1: BTC, ETH, BNB, ADA, SOL, XRP, DOT, SHIB, DOGE, LUNA

Bitcoin and Ether closed October on a strong note, increasing the possibility that the rally will pick up pace in November. Bitcoin ( BTC ) and Ether ( ETH ) had their highest monthly close ever in October, indicating strong momentum that favors buyers. The focus now shifts to November, which has been largely bullish for Bitcoin. Since 2013, Bitcoin has closed November in the red on only two occasions, in 2018 and 2019. Another positive impetus for Bitcoin could be the tailwinds from the United States stock markets, which also have an enviable record in November. The S&P 500 has recorded a median rise of 2% in November, the only month of the year to achieve such impressive median returns. Daily cryptocurrency market performance. Source: Coin360 Data from Glassnode also shows that Bitcoin reserves on exchanges are at their lowest level in three years. The amount of Bitcoin held on the books of exchanges has dropped from 3.1 million Bitcoin in April 2020 to 2.47 million BT...
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Patreon to explore expansion into crypto realm

The online content creator platform is seeking feedback about a possible “social token or creator coin.” Patreon executives again teased their company's expansion into the world of crypto at a 2021 Creator Economy Summit by The Information panel. Patreon CEO Jack Conte appeared with chief product officer Julian Gutman, saying: “I really love the idea of creators owning their media and owning their content. [...] I love the idea of shifting power away from institutions and toward individual creative people.” Conte noted that while the platform doesn’t currently have full-time employees focused on cryptocurrency, it was considering hiring them. Gutman went on to say, “I think for us, really thinking through how we’re continuing to ensure we’re creating a sustainable recurring future for creators is why we’re evaluating the crypto space more broadly.” These statements follow last month's announcement that the company was seeking feedback from its clients about the possibili...
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New Data Shows Red Hot US Inflation Highest in 30 Years — Analyst Says Rising Inflation Could Hit a ‘Tipping Point’

Inflation continues to remain hot in the United States as supply constraints and higher oil prices continue, seeing barrels of crude surge above $80 per unit. Meanwhile, data released on Friday indicates that consumer expenditures have risen to 4.4%, the highest run-up of inflation the country has seen in 30 years. Inflation Continues to Rise in US Americans are dealing with higher inflation levels these days as new data indicates that personal consumption expenditures have spiked in September to 4.4%. Reuters reports that the inflation run-up is “continuing a run of inflation at levels not seen in 30 years.” Americans losing purchasing power has been attributed to supply chain shortages, sky-high oil prices , and the ongoing Covid-19 procedures mandated by the Biden administration. Reuters reporter Howard Schneider explains that the rising inflation levels in the U.S. could undermine Federal Reserve chairman Jerome Powell’s claims that inflation will be “transitory.” However, Co...
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Sfermion raises $100M for NFT and metaverse ventures

The firm traditionally focuses on gaining exposure to NFT assets, but is keen to expand its portfolio to the metaverse space amid its recent emergence into the public discourse. Nonfungible token, or NFT, investment firm Sfermion have announced a secondary funding raise of $100 million — appropriately titled Fund II — from a number of established cryptocurrency investors including British billionaire Alan Howard, American entrepreneur Chris Dixon, Gemini co-founders Cameron and Tyler Winklevoss, and venture capital firm Digital Currency Group, amongst others.  Whereas predecessor Fund I focused solely on NFT investment opportunities, seven-figure Fund II will be utilized to “accelerate the emergence of an open, decentralized metaverse” through strategic investments. Founded in 2019 by Andrew Steinwold, Sfermion are intent on identifying and investing in emerging projects, technologies and individuals within the NFT space who seek to innovatively advance the ecosystem’s developm...
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City of Liverpool takes interest in blockchain-powered food delivery platform

Peepl seeks to enhance adoption by rewarding users with new tokens for every food delivery order. On Monday, Metro Mayor of the Liverpool City Region Steve Rotheram announced a 700,000 pound ($955,957) investment into blockchain-powered food delivery service Peepl. The software aims to act as a cost-efficient alternative to food delivery giants for local restaurants. Peepl claims that it can save restaurants up to 50% on the commissions typically charged by food delivery platforms through its technology and partnerships. In addition, the Peepl platform promises to give consumers back 5% to 10% on each order's value in the form of Peepl Tokens (PPL). However, they will be locked within the network for at least four to five years. According to its website, its developers propose to fix the price of each PPL token until 2025. On top of making transactions, PPL token holders would also be able to participate in the network's governance. Mayor Rotheram issued the following s...
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Amazon job posting hints company’s Web Services are preparing to adopt crypto

The prospective employee would encourage those in senior positions at major companies to consider adopting cryptocurrencies, central bank digital currencies, stablecoins, security-backed tokens, asset-backed tokens and nonfungible tokens. Major online retailer Amazon’s IT service management company may be considering driving adoption in the digital asset space among its customers. According to a Saturday job posting, Amazon Web Services’ New York office is hiring a Financial Services Specialist who “understands the overall cryptocurrency and digital asset ecosystem,” with experience in blockchain and distributed ledger technology. The company said the position would work with regulators, financial institutions and capital market operators to explore how they might benefit from digital asset adoption. The prospective employee would encourage those in senior positions at major global financial institutions to “transform the way they transact digital assets,” including cryptocurrenci...
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How to Recover a Lost Dogechain.info Wallet Password and Unblock 2FA – KeychainX Expert Explains

Have you lost the password for a Dogechain.info wallet or have it locked behind 2FA and fear you will never get to hold your precious coins ever again? Good news, KeychainX wrote a handy guide on how to recover such wallets. This is a trusted service provider that specializes in recovering lost Bitcoin wallets from wallet.dat files, Dogecoin wallet passwords, Android wallet or spending PIN, Ethereum JSON files, presale wallets and can even decrypt blockchain.info 15,17,19 or 21 word mnemonic seed that is no longer officially supported. Dogechain.info Wallets Can Be Recovered According to a recent KeychainX article , the team has been able to recover a number of dogechain.info wallets that both had their password lost and their 2FA blocked over the course of the previous month. Dogechain.info is a self custodian doge wallet that uses the same parameters like blockchain.info used back in 2015. It has the wallet ID, 2FA security and the encrypted wallet and keys stored on a server in t...
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