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Showing posts from November 3, 2021

Shiba Inu falls after $2.3B of SHIB moved from whale wallet

The billionaire whale moved $2.3B worth of SHIB to four different wallets and some investors are getting nervous. The price of Shiba Inu has fallen 11% after a series of transactions from the whale wallet that famously transformed a $3400 purchase last August into $1.55B . On November 2, the whale moved ten trillion, one hundred thousand Shiba Inu tokens to four separate wallets. Each transaction was worth approximately $586M USD, totaling about $2.3B USD. After the wallet was first identified, social media users speculated that the owner may have forgotten or lost their key, given the lack of activity in the wallet since last year. Remember when everyone was wondering if the guy who turned 8k$ into 5 billion actually lost access to his wallet? Turns out he didn't and just started moving some of his $SHIB Address: https://t.co/Pok4lH0AUv pic.twitter.com/yyzb3OXcPm — Devchart ‍ (@devchart) November 3, 2021 But with the whale waking up, the transactions have prompted so...

LTNM and OSO ATMs Enters Into a 3 Year Partnership to Install LTNM ATMs in the US

PRESS RELEASE. Palo Alto, CA – LTNM, the next generation, insured asset-backed cryptocurrency, is proud to announce an exclusive partnership with OSO ATMs, one of the biggest ATM providers, to help install 100,000 LTNM ATMs across all fifty states in the United States. Developed by Monsoon Blockchain Corporation on behalf of the LTNM Foundation, LTNM is a greener, faster, and more secure version of Bitcoin, capable of managing massive crypto transactions while being highly efficient in terms of cost and scalability. As part of its plan towards crypto-adoption, LTNM has partnered up with various trading platforms to list its native LTNM token for trading. Partnering with a full-service ATM company, OSO ATMs, sets a new journey for LTNM to further span its vision of making crypto easily accessible for everyone. Besides, it’ll help the cryptocurrency to further span its customer reach. As part of the partnership, OSO ATM will help LTNM install 100,000 ATMs across all 50 US states, wher...

Nifty News: FTX and Wildcats' basketball NFTs, WeMeta’s $1.1M funding, Zed Run’s Netflix tie-in

University of Kentucky basketball players will get paid by FTX, Drue Kataoka to fight racism with NFT auction, WeMeta lands a $1.1M investment, and NFT racehorse game collaborates with new Netflix movie. FTX's latest sports sponsorship The University of Kentucky has entered into a sponsorship agreement with FTX.US for the men’s Wildcats basketball team to act as brand ambassadors. Players will receive a monthly USD stipend from FTX.US paid in FTX debit cards and will also be able to create their own NFTs on the FTX NFT platform and keep a portion of the revenue. University of Kentucky Men's Basketball team. (ukathletics.com) A recent decision by the National Collegiate Athletics Association (NCAA) to allow athletes to monetize their likenesses and names made the NFT deal possible. It’s the latest in a series of partnerships between FTX and American sports brands including the NBA’s Miami Heat and MLB . Activist fights the power with NFTs New York artist and activ...

The Giving Block launches 15 new funds to direct crypto donations by cause

Donors can use one of 45 cryptocurrencies to contribute to a range of nonprofits grouped by mission. Cryptocurrency charity platform The Giving Block has announced the launch of 15 new 'Cause Funds' to better direct donations to charities with similar goals and missions. The Giving Block was established to facilitate cryptocurrency donations to over 700 nonprofits around the world including Save the Children, Malala Fund and World Vision. The new Cause Funds “bundle together multiple nonprofits that have a similar focus or mission”, according to The Giving Block’s website, adding that the feature is perfect for those who want to support a specific issue or cause rather than organization. In this way, the funds enabled multiple charities to grow their impact, not only those with instant name recognition. "We often heard from donors that they wanted to support a certain type of cause — for example the environment — but had a hard time choosing a cause," co-foun...

Iran Blockchain Association Offers Help With Crypto Regulations, Says Regulators Are Not Qualified

The leading crypto industry association in Iran has slammed authorities for their passive stance regarding crypto regulation. The government’s inaction is a source of concern, the organization said, offering its assistance to regulators whom it considers not sufficiently qualified to deal with the complex issue. Blockchain Association Proposes Public-Private Partnership on Crypto Rules in Iran Tehran authorities such as the Central Bank of Iran ( CBI ) are not capable of regulating cryptocurrencies, according to the head of the Iran Blockchain Association ( IBA ). Тhe country’s main organization representing members of the crypto sector called for the establishment of an “independent counsel” to take on the job. During a press conference this week, the head of the IBA, Abbas Ashtiani, elaborated: We need a special council of representatives from state bodies and private enterprise to craft regulations for cryptocurrencies. The CBI or the Security and Exchange Organization are not ...

SQUID token up 600% today despite debacle and Binance investigation

Binance blacklists Squid Game developer accounts reports that developers used coin mixers to cover their tracks. The world’s biggest crypto exchange, Binance, has launched an inquiry into the Squid Game token to trace funds associated with the epic 45,000% pump and dump a few days ago. The Binance Smart Chain-based gaming token SQUID is suspected to be an exit scam or rug pull according to the exchange. Despite this, some extremely optimistic users are still buying the token in hope of a resurrection, with the price surging six fold in the past 24 hours. Binance is exploring options to assist those that bought the token and lost out in the crash. It is reportedly blacklisting addresses affiliated with the developers and using blockchain analytics to identify bad actors. It hopes to recover lost funds, although this seems a relatively remote possibility. Binance determined the developers had used a coin mixer called Tornado Cash to obfuscate their transactions. “Our security team i...

Mobius Capital Founder Says Crypto Is Not an Investment but ‘a Means to Speculate and Have Fun’

Mobius Capital Partners founder Mark Mobius says that cryptocurrency is not an investment, calling it “a means to speculate and have fun.” He prefers stocks and believes “the U.S. market is going to continue to prosper and continue to do well.” Mark Mobius Does Not See Crypto as an Investment Mark Mobius, the founder of Mobius Capital Partners, talked about cryptocurrency in an interview with CNBC Wednesday. Prior to starting his own company, Mobius was executive chairman of Templeton Emerging Markets Group. He joined Templeton in 1987 where he managed more than $50 billion in emerging markets portfolios. He founded Mobius Capital Partners in March 2018. “It’s not an investment. It’s a religion,” he said about crypto, elaborating: People should not look at these cryptocurrencies as a means to invest. It’s a means to speculate and have fun. But then you got to go back to stocks at the end of the day. Unlike Mobius, many famous investors and fund managers see bitcoin as a good i...

Survey finds lower paid workers are quitting jobs thanks to crypto profits

Almost two thirds of respondents who quit their jobs after making life-changing gains from crypto had a total income of less than $50,000. Data suggests that some low-paid members of the workforce are quitting their jobs after making life-changing crypto gains. Analytics firm Civic Science posted survey results (weighted according to U.S. census data) on Nov. 1, which shows that 4% of 6741 respondents aged 18 and over had quit their jobs in the past year due to “financial freedom” earned by investing in crypto assets. Civic then cross-referenced the 4% figure with data from 1,201 respondents based on their annual income who had quit their jobs due to crypto gains. Almost two thirds of those who had quit their jobs due to 'mad gainz' earned under $50,000 per year — comprised of 27% of those earning less than $25,000, while 37% had a total income of between $25,000 and $50,000. 15% of those tossing in jobs thanks to crypto had an income between $50,000 and $75,000, 13% betwe...

Australia’s Commonwealth Bank Lets Customers Trade Crypto Directly Through Its App

The Commonwealth Bank of Australia (CBA), the country’s biggest bank, is providing customers with the ability to buy, sell, and hold crypto assets directly through its app. The bank has partnered with crypto exchange Gemini and blockchain analytics firm Chainalysis to provide crypto services. Commonwealth Bank Begins Offering Crypto Services Commonwealth Bank (CBA), also known as Commbank, announced Wednesday that “it will become Australia’s first bank to offer customers the ability to buy, sell and hold crypto assets,” which will be directly through its Commbank app. Australia’s biggest lender explained that it has partnered with New York-based crypto exchange Gemini and blockchain analytics firm Chainalysis to provide crypto services. “Both partnerships have allowed the bank to design a crypto exchange and custody service that will be offered to customers through a new feature in the app,” Commbank detailed. The bank’s mobile banking app is used by about 6.4 million customers. N...

Everyone’s in The Sandbox: Artists, brands and creators pile into the Metaverse

New ecosystem partners, attractive creator incentives and the successful completion of a $93 million funding round are a few reasons why SAND has rallied 393% in the past two weeks. The blockchain gaming ecosystem has seen explosive growth over the course of 2021 as nonfungible tokens (NFT) and the play-to-earn gaming model helped create new income opportunities for people around the world while also ushering in a new cohort of users to the cryptocurrency sector. One project involved in gaming and the building of the Metaverse is The Sandbox (SAND), a blockchain-based virtual world where users to create, build, buy and sell digital assets in the form of a game. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $0.70 on Oct. 27, the price of SAND has stormed 393% higher to reach a new all-time high at $3.45 on Nov. 3 as its 24-hour trading volume surged to $9 billion. SAND/USDT 4-hour chart. Source: TradingView Three reasons for the sud...

Silk Road 2 Admin Forfeits $667,000 in Bitcoin to British Law Enforcement

According to reports, the founder of the now-defunct Silk Road 2 marketplace has forfeited more than half-million dollars worth of bitcoin to British authorities. White’s Silk Road 2 admin handle was called “Cthulhu,” and he also dubbed himself as “DPR2.” Silk Road 2 Admin Thomas White Forfeits $667K in Bitcoin In April 2019, Bitcoin.com News reported on Thomas White, the lead administrator of the now-defunct Silk Road 2 darknet marketplace (DNM), getting sentenced to five years in prison. The Silk Road 2 (SR2) DNM was the original Silk Road’s successor, after the first Silk Road administrator was taken into custody. The 26-year-old White ran the DNM under the names “Cthulhu” and “DPR2,” and was eventually tracked when he ordered a package from the SR2 marketplace itself. Sky News reports that White has been forced to hand over £490,000 ($667,000) worth of bitcoin from his net proceeds. The prosecutors continued to monitor White’s finances after he was jailed and the National Cri...

Friday’s $540M Ethereum options expiry favors traders with targets at $5K

$540 million in ETH options expire on Friday and data shows bulls have a good chance at securing the $5,000 level. Ether ( ETH ) bulls are probably very pleased with the 368% gains accrued so far in 2021 and it seems like not a day passes where the altcoin doesn’t hit a new all-time high. Even with Ether on the path to $5,000, there are still plenty of concerns about the network's capability to absorb the strong demand coming from the decentralized finance (DeFi) and non-fungible token (NFT) sector. Another potential setback laying ahead is the United States Treasury report on stablecoin regulation released on Nov 1. The report stressed the necessity of Congress to "ensure appropriate federal prudential oversight on a consistent and comprehensive basis." In addition to this, competing networks offering interoperability with major DeFi projects have been gaining adoption, both in total value locked (TVL) and market share on smart contracts. As an example, this week ...

Congressmen Emmer & Soto to SEC Chair Gensler: We want BTC Spot ETFs

The bipartisan pair sent a letter to the securities regulator demanding spot ETF approval. Congressmen Todd Emmer and Darren Soto sent a bipartisan letter to Securities & Exchange Commission Chair Gary Gensler on Wednesday, strongly questioning why the agency has denied approval for the creation of a Bitcoin spot ETF while allowing Bitcoin Futures ETFs to begin trading. In a spot ETF, the fund holds the actual commodity (in this case bitcoin) whereas in a futures ETF fund holds contracts to buy and sell the commodity at a future date at a specified price. In a press release announcing the letter, Minnesota Republican Emmer said: “The SEC’s approach to cryptocurrency regulation has been unacceptable. [...] If the SEC cannot outline the perceived material difference in risk profiles, then they should allow ETFs based on spot Bitcoin to be traded." Soto, a Democrat from Florida, affirmed in his accompanying statement: “Cryptocurrency has proven to be a driver of economic ...

KuCoin launches virtual office in the Bloktopia metaverse

According to the exchange, the meta office will allow users to decorate cyberpunks, interact with virtual furnishings, as well as chat and speak to each other in the virtual environment. Crypto exchange KuCoin has announced it will be opening a virtual office inside the skyscraper from the decentralized metaverse Bloktopia. In a Nov. 2 announcement, KuCoin said it would be joining the metaverse by launching an office inside Bloktopia’s platform, designed as a skyscraper. The virtual building has 21 different levels in recognition of the total supply of 21 million Bitcoin ( BTC ) and is expected to house other content creators including Polygon and Avalanche. According to the exchange, the meta office will allow users to decorate cyberpunks, interact with virtual furnishings, as well as chat and speak to each other in the virtual environment. KuCoin has seemingly adopted a metaverse-friendly business model, offering support for Bloktopia’s native token BLOK as well as the utility t...

DeFi, CeFi and institutions: AscendEX’s $50M raise highlights ambitions beyond exchange business

Polychain Capital, Hack VC, Jump Capital and Alameda Research are just some of the big names behind AscendEX’s $50 million Series B. Global cryptocurrency and financial platform AscendEX recently concluded a $50 million Series B fundraiser that was backed by some of blockchain’s biggest venture funds, putting the company on track to bridge the gap between centralized finance and the budding world of DeFi. In an exclusive interview with Cointelegraph, AscendEX’s head of business development Shane Molidor and Wes Kaplan, the platform’s director of marketing and operations, talked about the company’s growing value proposition beyond the crypto exchange business and highlighted the role of institutional investors in fueling innovation in the industry. Venture capital forges strategic partnerships AscendEX’s Series B was led by Polychain Capital and Hack VC, with additional participation from Jump Capital and Alameda Research, among several others. Such influential names provided a...

ADALend Ignites the Defi Space

ADALend is a scalable and decentralized lending protocol governed by a decentralized autonomous organization (DAO). ADALend will offer various features that will provide its users with decentralized financial instruments accessible to everyone with access to the internet, without the complicated KYC requirements of the mainstream banking system. The protocol will improve digital assets’ capital efficiency by enabling assets accumulated to fund multiple loan pools. The protocol will utilize the Cardano blockchain to flesh out DeFi potential as a viable replacement to the traditional financial sector. Green Blockchain Blockchains of the future will be required to have a lower impact on the environment, working efficiently without consuming enormous amounts of energy to remain operational. Cardano has been one of the most energy-efficient blockchains in the industry. 1.6 million times lower than bitcoin and well below the average level of high market capitalization coins. Cardano h...

Monster-battle NFT game Axie Infinity soars in popularity among developing nations

One way to earn money on the platform is to breed in-game creatures called Axies using crypto, mint them as NFTs, and sell them to other players. It's no secret that video-game streaming platforms, such as Twitch, have made it possible for players to earn money by broadcasting their gaming experience to an audience of gaming enthusiasts. But now, the tokenomics of blockchain-powered digital games like Axie Infinity have made it possible for users to make money by simply playing the game. At time of publication, Axie Infinity has over 360,000 concurrent players. Based on data from ActivePlayer.io, while the U.S. ranks third in terms of active Axie Infinity players, all other countries on the list are developing nations. An estimated 40% of players are based in the Philippines alone. According to Twitter user Saharan-sub, Axie Infinity players in Ghana can make approximately 854 to 2,562 Ghanaian cedis per month ($140 to $420), which is several times higher than the country...

Crypto at the polls: Eric Adams wins NYC mayoral race

Adams beat out Republican Curtis Sliwa — also a pro-crypto candidate — to become the next mayor of New York City with 72.8% of the vote. Democrat Eric Adams, who said he planned to make New York City “the center of Bitcoins” if elected mayor, has won his race against Republican Curtis Sliwa. Following the Nov. 2 Election Day results, Adams will be replacing Bill de Blasio as the mayor of New York City, defeating Sliwa and other candidates with 72.8% of the vote. He is expected to take office on Jan. 1. It's official -- our five-borough, knock-every-door, reach-every-voter campaign was successful: We have won the race for Mayor of New York City! This is my dream come true, and I couldn’t be more proud to represent the City that we all love as your Mayor-elect — Eric Adams (@ericadamsfornyc) November 3, 2021 During his mayoral campaign, Adams pledged to make New York City a tech hub that will be ”the center of cybersecurity, the center of self-driving cars, drones, the ce...

$1.75 Trillion for Climate Change, Social Services — Biden’s ‘Build Back Better’ Plan Advances While Inflation Grips US

This week, U.S. lawmakers are preparing to debate the advance of Joe Biden’s Build Back Better proposal, which is now estimated at $1.75 trillion. The new proposal follows the expansive monetary policy the Federal Reserve engaged in during the last two years expanding the money supply like never before. Meanwhile, U.S. inflation is at a 30 year high and the central bank’s Federal Open Market Committee (FOMC) plans to assess new strategies today. Biden Slims Down ‘Build Back Better’ Plan Last week, U.S. president Joe Biden offered a slimmed-down “ Build Back Better ” proposal from its original $3.5 trillion to the current estimate of $1.75 trillion. The proposal follows the massive monetary expansion that stemmed from the U.S. Federal Reserve adding credit to its member banks’ deposits. In order to deal with the economic disaster caused by the government’s Covid-19 mandates, the Fed’s monetary expansion eclipsed two centuries of USD creation. The latest 1,600-page proposal from the...

Data shows Polkadot crashes after reaching $1B open interest — Will it happen again?

Polkadot (DOT) price crashed both times its futures open interest clipped $1 billion. Should traders expect a correction now that open interest is over this figure? Whenever there is relevant growth in the number of derivatives contracts currently in play (open interest), it usually means that more traders are involved. In futures markets, longs and shorts are balanced at all times, but having a larger number of active contracts allows the participation of institutional investors who require a minimum market size. However, in Polkadot's (DOT) case, price crashes have often been anticipated by this indicator breaking the $1 billion mark. Polkadot price in USD at Bitfinex. Source: TradingView The April 17 crash happened after DOT reached its $48.30 all-time high, which led to a $1.2 billion futures open interest. Over the following week, the altcoin dropped 45% to $26.60, driving the number of active contracts to a $600 million equivalent. Three weeks later, on May 15, a sim...

EOS community ramps up battle for organization control against former developer Block.one

It appears EOS holders are extremely dissatisfied with the direction the network has headed. Members of the EOS ecosystem, a blockchain designed to power decentralized applications, or dApps, are voicing their dissatisfaction with former developer Block.one. As a result, they have formed their own organization and elected new leadership in an effort to revamp the network. As accessed by Cointelegraph, Yves La Rose, the "community-elected CEO" of the novel EOS Foundation, gave the following prepared statement during a virtual conference: “There's no sugar-coating it, EOS as it stands is a failure. The last three years or so have been nothing but dwindling in terms of market cap and in terms of token value. When we look at EOS compared to the rest of other cryptos, especially in satoshi levels, EOS has been a terrible investment. It's been a terrible financial, time and community investment. The reality is that many people no longer want to be associated with EOS be...