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Showing posts from December 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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Everscale Grants Program (Ex FreeTON) Now Accepting Applications

Everscale (ex FreeTON) network developers Broxus have announced the opening of their Everscale Grants program. The grants program will provide crucial financial and professional support to promising IT startups that qualify. November has been a busy month for the Everscale network. Early on the project, which previously was called FreeTON, announced it would be rebranding into Everscale. The reasons behind the change were tied to the significant advances that had been made on the network and its correlated ecosystem, relative to where it had started out as FreeTON. FreeTON was started as a continuation of the now-halted Telegram Open Network. Once development of that network ceased on the Telegram side, the project was made open source and a group of enthusiasts, which eventually became FreeTON, came together to try to realize the potential that the network had. A bit further down the road, however, community members and developers cognizant of the strides made in network developme...
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Lummis says Fed is 'violating the law' with Wyoming blockchain bank delays

The Republican senator for Wyoming has called on her colleagues to withhold support for Fed chair Jay Powell. Republican senator for Wyoming Cynthia Lummis has argued that the Federal Reserve is “violating the law” by delaying the processing of applications from crypto-native banks to receive accounts at the central bank. In a Nov. 30 op-ed for the Wall Street Journal, Lummis claimed that the Fed was treating the Special Purpose Depository Institutions (SPDIs), also known as ‘ blockchain banks ’, in her home state unfairly. She called on her Republican colleagues to withhold support for Fed chair Jay Powell who was reappointed by President Biden on Nov. 23. In Feb. 2019, Wyoming state legislature approved SPDIs to serve businesses unable to secure banking services from the Federal Deposit Insurance Corporation (FDIC) due to their dealings with crypto. In 2020, two Wyoming SPDIs Kraken and Avanti received their bank charters. Shortly after, they applied for master accounts with t...
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15 crypto leaders make the cut for Forbes 30 Under 30

Forbes has named 15 crypto business leaders in its latest 30 under 30, with OpenSea co-founder Alex Atallah and Alamada Research co-CEOs Caroline Ellison and Sam Trabucco making the cut. Forbes has named 15 youthful crypto business leaders on the 2022 edition of its 30 under 30 list. Despite its misleading name, the annual Forbes 30 under 30 list is actually comprised of 600 people aged 30 and under from a total of 20 categories such as finance, gaming and music. Notable alumni from last year’s edition include FTX and Alameda Research founder Sam Bankman-Fried, and Brian Tubergen, the co-founder of U.S.-based initial token offering and exchange platform CoinList. In the latest edition published on Dec. 1, Forbes noted that the latest batch of under 30s raised more than $1 billion combined. The publication named around 15 crypto people on the list including Alamada Research co-CEOs Caroline Ellison and Sam Trabucco, OpenSea co-founder Alex Atallah and PleasrDAO founder Emily Yang....
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Miami to use PlanetWatch and Algorand for air quality monitoring

PlanetWatch has been tapped to deploy a network of air quality sensors around the city to monitor the concentration of air pollution. Miami is preparing to be one of the first major US cities to monitor its air quality using a decentralized Internet of Things (IoT) network built on Algorand. French environmental technology company Planetwatch has developed five different types of air quality sensors. With funding from Borderless Capital’s $10 million PLANETS fund, sensors will be deployed throughout the city, including in the homes of city residents. Each sensor detects the concentration of air pollution in an area. When combined into a network, they will help residents and city officials analyze where higher levels of pollution exist. Data collected by the sensors will be recorded on the Algorand blockchain making it tamper-proof and permanent. Miami Mayor Francis Suarez has been a long-time advocate for the use of blockchain technology. He said at the DeCipher event in Miami o...
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In 2013, Wired destroyed the key to 13 BTC now worth $760K... to make a point

Wired considered donating their holdings to charity back in 2013, but instead decided the “obvious” choice was to destroy the key to their wallet holding 13 BTC. There has been no shortage of people and institutions that woefully underestimated the potential of cryptocurrency. Among the ranks of once-were Bitcoin naysayers is Wired, which destroyed the private key to a Bitcoin ( BTC ) wallet holding 13.34623579 BTC back in 2013 in order to make the point the cryptocurrency was nothing more than an “abstraction”. The Bitcoin in the now inaccessible address is now worth $761,000. Author Robert McMillan (who now is a reporter with the Wall Street Journal) set up a Butterfy Labs Bitcoin mining rig in the corner of his office at Wired to see what all the fuss was about. And at the conclusion of his little experiment, he was far from impressed. Full marks for being early, null points for wise choices. “The world's most popular digital currency really is nothing more than an abs...
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Founder of Coin Signals Funds Pleads Guilty in Crypto Scam — Faces up to 10 Years in Prison

The founder and manager of several cryptocurrency funds has pleaded guilty to luring investors to his crypto investment scam. His funds consistently lost money and his scam left investors with a $5 million loss, according to the U.S. Department of Justice (DOJ). Investors Scammed Into Investing in Coin Signals’ Funds The U.S. Department of Justice (DOJ) announced Tuesday that Jeremy Spence (aka Coin Signals) has pleaded guilty in a fraudulent cryptocurrency investment scheme. Spence “solicited over $5 million from more than 170 individual investors for various cryptocurrency funds that he operated, after making false representations in connection with these funds,” the DOJ explained. Spence was charged in June. U.S. Attorney Damian Williams detailed: Jeremy Spence, a/k/a, ‘Coin Signals,’ admitted today to luring investors to his cryptocurrency investment scam by touting fictitious historical returns of up to 148%. “In reality, Spence’s investments consistently lost money, an...
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$106M worth of Metaverse land sold last week: DappRadar

“Undoubtedly, Metaverse land is the next big hit in the NFT space. Outputting record sales numbers and constantly increasing NFT prices, virtual worlds are the new top commodity in the crypto space." Four blockchain-based Metaverse projects generated more than $100 million worth of virtual land NFT sales last week according to data from DappRadar. A Nov. 30 post from the decentralized application (DApp) analytics firm reported that between Nov. 22 and Nov. 28 activity was “booming” on The Sandbox, Decentraland, CryptoVoxels and Somnium Space with a combined $105.8 million worth of trading volume between them from more than 6,000 traders: “Undoubtedly, Metaverse land is the next big hit in the NFT space. Outputting record sales numbers and constantly increasing NFT prices, virtual worlds are the new top commodity in the crypto space.” The Sandbox represented the lion's share of volume for the week with $86.56 million, Decentraland accounted for $15.53 million, while Cryp...
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Jury in Craig Wright lawsuit 'cannot all agree on a verdict'

The court battle over 1.1 million Bitcoin is at a standstill as the jury in the case has been deadlocked for days. The court case between Australian Craig Wright and the estate of his now deceased friend David Kleiman over legal rights to tens of billions of dollars worth of Bitcoin mined by Satoshi Nakamoto could end in a mistrial if jurors remain deadlocked. Wright claims he used the pseudonym Satoshi Nakamoto when he invented Bitcoin. The case being deliberated began in 2018 when the estate of his associate Kleiman sued him on the grounds the pair were partners who'd invented and mined Bitcoin together By about 5PM UTC on Nov. 2, the jury was deadlocked, having issued the following statement : "Unfortunately we cannot come to a conclusion and we cannot all agree on a verdict on any of the questions." As of 10PM UTC, the jury remained deadlocked and is set to return tomorrow, according to court reporter Carolina Bolada from Law360. Judge Beth Bloom issued an A...
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Bank of America Sees Massive Opportunity in Metaverse for Entire Crypto Ecosystem

Bank of America’s strategist says that the metaverse is a massive opportunity where cryptocurrencies will be widely used as currencies. “I definitely believe this is a massive, massive opportunity,” he said. Bank of America’s Metaverse Prediction Bank of America’s strategist, Haim Israel, told the Insider Tuesday that the metaverse is a massive opportunity for blockchain technology. In addition, he expects it to take cryptocurrency mainstream. Israel is Bank of America’s managing director of research and a global strategist. He is also head of the global thematic research team at Bank of America Merrill Lynch. He detailed: I definitely believe this is a massive, massive opportunity … You need the right platforms … that is definitely going to be a big opportunity for this entire ecosystem. The Bank of America strategist predicted that the metaverse is where “we’re going to start using cryptocurrencies as currencies,” emphasizing that it will be where people finally start using c...
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NFT drop causes glitch in The Matrix, FTX.US adds Ethereum NFTs, token Baby Sharks...

The creators of the widely popular Baby Shark song are launching NFTs this week, FTX.US has expanded NFT support to Ethereum and more than 300,000 people are waiting for Matrix NFTs. The Matrix’s NFT revelations Soaring demand for the Warner Bros.’ Matrix NFT avatar drop on Nifty’s this week caused the website's purchasing page to crash. Earlier this month, the film studio announced it would be dropping 100,000 unique Matrix-inspired avatar NFTs for $50 each as part of a promotional campaign for the new Matrix Resurrections film set to hit cinemas in the U.S. on Dec. 22. After more than 300,000 Matrix fans queued up for the drop on Nov. 30, Nifty’s was forced to start and stop the queue multiple times due to max capacity-induced “infrastructure issues.” Hello again everyone. While we are obviously still working through the launch not going the way we had hoped it would, we appreciate every single one of you that have hung in with us, and we want to send a very sincere "...
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This simple Bitcoin options strategy lets traders profit while also hedging their bets

Not sure which way BTC price might go? Here’s how pro traders use the Iron Condor options strategy to place carefully hedged bets. For traders who are undecided on Bitcoin's ( BTC ) move, the "long condor with call options" yields optimal results with very low risk. This strategy offers protection down to $53,500, which would be a 7% downside move from the current $57,600, and returns a positive outcome up to $67,500. Options markets provide more flexibility to develop custom strategies. Unlike futures, there are two separate instruments available. The call option gives the buyer upside price protection, while the protective put option offers the opposite. Bitcoin options strategy returns. Source: Deribit Position Builder This long condor strategy has been set for the Dec. 31 expiry and uses a slightly bullish range. The same basic structure can also be applied for other periods or price ranges, although the contract quantities might need some adjustment. Bitcoin ...
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Indonesia’s Central Bank Considers Issuing Digital Currency to ‘Fight’ Crypto

Bank Indonesia, the country’s central bank, is reportedly considering issuing a central bank digital currency (CBDC) to fight the use of cryptocurrency. “A CBDC would be one of the tools to fight crypto. We assume that people would find CBDC more credible than crypto,” said an assistant governor of the central bank. Central Bank Sees CBDC as Tool to ‘Fight Crypto’ Juda Agung, an assistant governor of Bank Indonesia, the country’s central bank, talked about cryptocurrency and central bank digital currency (CBDC) during his parliamentary “fit and proper test” to become the deputy governor of the central bank. He said that Bank Indonesia wants to issue a digital rupiah to be used as legal tender to fight cryptocurrency, Bloomberg reported, noting that the central bank has been looking into this issue since the beginning of the year. In Indonesia, crypto assets are traded alongside commodity futures and are regulated by the trade ministry, the assistant governor explained. However, he...
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BREAKING: Square rebrands to Block as focus shifts to blockchain

“Block is a new name, but our purpose of economic empowerment remains the same. No matter how we grow or change, we will continue to build tools to help increase access to the economy," said Jack Dorsey. Digital payments company Square announced that it has changed its company name to Block, seemingly in a shift towards blockchain technology. In a Wednesday tweet, Square said the rebrand will bring the payments firm together with Cash App, the decentralized Bitcoin ( BTC ) exchange project tbDEX, and music and video streaming platform Tidal. An accompanying news release said that Square Crypto, the cryptocurrency-focused branch of payment firm, will also be changing its name to Spiral and joining the Block family. “Block references the neighborhood blocks where we find our sellers, a blockchain, block parties full of music, obstacles to overcome, a section of code, building blocks, and of course, tungsten cubes,” said Square. “We’ve been working to make this change for over...
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Polygon’s expanding ecosystem backs MATIC’s rise toward a new all-time high

Strong fundamentals and the steady growth of the Polygon network are just a few of the factors behind MATIC’s recent rally above $2.00. Layer-two (L2) solutions for the Ethereum network have become a popular topic of discussion and speculation on their associated tokens backed the massive rally seen in many of the protocols this year. The parabolic growth of the decentralized finance (DeFi) and nonfungible token (NFT) sectors also led to a surge in the cost of carrying out simple transfers and this prompted developers and investors to migrate to L2-supportive platforms. One L2 solution that saw its token price rise to new highs earlier in the year and now looks poised to make another breakout higher is Polygon ( MATIC ), a proof-of-stake blockchain protocol that aggregates scalable solutions on Ethereum to support a multi-chain ecosystem. Data from Cointelegraph Markets Pro and TradingView shows that MATIC hit a low at $1.01 on Sept. 21, and over the past few months, the price ha...
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Biden is considering law professor, Fed president, and former CFPB director to fill 3 seats on Federal Reserve: Report

Fed governor Randal Quarles resigned his position effective as of the end of December, while Richard Clarida is expected to leave in January 2022, leaving three vacancies in the group of seven serving at the Federal Reserve. The White House has reportedly begun interviews with possible candidates to fill the empty seats on the board of governors of the Federal Reserve System in 2022.  According to a Wednesday report from Bloomberg citing people familiar with the matter, U.S. President Joe Biden is considering qualified candidates including Federal Reserve Bank of Atlanta President Raphael Bostic, former Consumer Financial Protection Bureau director Richard Cordray and Duke University law professor Sarah Bloom Raskin to take over positions from Fed board members leaving in early 2022. Others under consideration reportedly include a former Treasury Department official under President Barack Obama, Karen Dynan, as well as Valerie Wilson, director of the Program on Race, Ethnicity,...
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$7.5 Million NFT Collection Accused of Using Art Without Permission Threatened by Legal Action

While non-fungible token (NFT) assets have been extremely popular in 2021, there’s been a slew of issues tied to the ecosystem as well. A recent report indicates that roughly a dozen artists are considering taking legal action against an NFT collection called “Art Wars” because their original artwork was sold as NFTs without their consent. NFT Collection Targeted Over Using Artwork Without Permission From the Original Artists Non-fungible token (NFT) assets have seen billions of dollars in sales this year, and the term “NFT” was just recently awarded the Collins English Dictionary Word of the Year. During the last seven days, NFT markets such as Opensea have seen $587 million in sales, Atomicwax has seen over $20 million, and Rarible has seen over $3 million in weekly NFT sales. However, certain issues in the NFT industry have been introduced in recent times such as problems with permanence , censorship , insider trading , and now artists are upset about NFTs being issued without...
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Price analysis 12/1: BTC, ETH, BNB, SOL, ADA, XRP, DOT, DOGE, AVAX, SHIB

Bitcoin continues to encounter resistance near $60,000, but this hasn’t stopped altcoins from advancing on their previous all-time highs. Bitcoin ( BTC ) finished the month of November with a decline of about 7%. This was in sharp contrast to the prediction of the “worst-case scenario” of $98,000 by PlanB, the creator of the popular stock-to-flow model. Although the analyst described it as a “big miss”, he said he would give the Floor model one more month . In its latest “Week On-Chain” report, Glassnode analysts said that Bitcoin’s correction in November was the “least severe in 2021.” Analysts now expect Bitcoin to witness a Santa rally, similar to the 47% up-move in December 2020 or the sharper 80% surge that occurred in December of 2017. Daily cryptocurrency market performance. Source: Coin360 In another positive news for Bitcoin bulls, Bloomberg senior exchange-traded fund (ETF) analyst Eric Balchunas said that " Fidelity Advantage Bitcoin ETF " was awaiting reg...
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House committee announces crypto CEOs will testify at Dec. 8 hearing on digital assets

The hearing, "Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States," is the latest from Congress to explore the issues concerning crypto assets. Maxine Waters, the chair of the House Committee on Financial Services, has announced several chief executive officers at major crypto firms in the United States will speak at a hearing to discuss digital assets and the future of finance. According to a Wednesday announcement, Waters said Circle CEO Jeremy Allaire, FTX CEO Sam Bankman-Fried, Bitfury CEO Brian Brooks, Paxos CEO Chad Cascarilla, Stellar Development Foundation CEO Denelle Dixon, and Alesia Haas, the CEO of Coinbase Inc. and the chief financial officer of Coinbase Global, will be witnesses at a full House committee hearing held on Dec. 8. The hearing, named "Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States,...
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'Crypto Critic' — Hollywood insider has a message for celebrities who shill token projects

According to Ben McKenzie, blockchain technology may still play an important role in the future of finance, but “rich and famous people pushing these products" haven’t yet earned the trust of investors. Ben McKenzie, the actor known for his roles on TV shows including Gotham and The OC, is speaking out against public figures endorsing projects in the crypto space without seemingly disparaging the technology itself. Working with The New Republic staff writer Jacob Silverman, McKenzie made waves in early October after penning a Slate piece with his partner titled “Celebrity Crypto Shilling Is a Moral Disaster.” The duo called attention to Kim Kardashian’s Instagram account promoting the token EthereumMax (EMAX) in early June, a project whose price gained 116,000% in just one week before shedding more than 99% of its value, leaving many in the red. “Celebrities are lending their names and promotional talents to everything from NFTs to crypto exchanges to their own custom coin...
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SafePal, Bifrost and Request Network soar after Bitcoin price hits $59K

BTC’s push toward $60,000, new cross-chain features and a sharp increase in user activity boosted SFP, BFC and REQ price. Bitcoin ( BTC ) started the new month in strength and Dec. 1's run up to $59,053 suggests that bulls are beginning to shake off the fears stirred up by the Federal Reserve's taper talks and the emergence of a new strain of COVID-19.  Altcoins also saw their prices lift off and early hopes of a potential "Santa Claus rally" are making the rounds on crypto Twitter. Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were Request Network (REQ), Bifrost (BFC) and SafePal (SFP). Request Network transactions hit an all-time high Request Network (REQ) is an Ethereum-based decentralized payment system that allows users to send and receive funds through secure channels without the need for an intermediary. ...
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