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Showing posts from January 20, 2022

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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Bulls aim to turn the tide in Friday’s $580M options expiry after BTC tops $43K

Regulatory uncertainty and tighter monetary policies continue to weigh on BTC price, but data shows bulls are attempting to provoke a reversal. Bitcoin ( BTC ) investors seem uncomfortable with adding positions after the most recent 40% correction from the $69,000 all-time high made on Nov. 10. In addition to the prolonged downtrend, remarks from the United States Federal Reserve on Dec. 15 about rising interest rates are also weighing on risk-on assets. The Fed signaled that it could raise its benchmark rate three times this year and there are plans to increase the pace of its asset purchasing taper. Consequently, traders are worried that these plans will negatively impact traditional and crypto markets because liquidity will no longer be "easily" available. Bitcoin price at Coinbase, USD (right) vs. China stock market MSCI index (left) Cryptoasset regulation in the U.S. has been in the spotlight and recently a member of the Securities and Exchange Commission's ...
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Joe Biden Claims Inflationary Pressure ‘Rests With the Federal Reserve,’ Praises the Fed’s ‘Extraordinary Support’ 

On Wednesday, U.S. president Joe Biden explained that the country’s central bank was dealing with a large share of the inflationary pressures the American economy is dealing with today. Biden welcomes the possibility of tightening monetary easing and noted that he “respects the Fed’s independence.” US President Joe Biden Says a ‘Critical Job in Making Sure Elevated Prices Don’t Become Entrenched Rests With the Federal Reserve’ Inflationary pressures have been building in the U.S. as consumers are paying far more for goods and services in 2022, and last year’s prices continued to grow worse. American consumers are paying more for housing, rentals, food, raw materials, lumber, and automobiles. Just recently, senator Rand Paul, R-Ky., published a report that said inflation or the “hidden tax” was “only going to get worse.” Furthermore, reports published on Thursday note that U.S. jobless claims have risen significantly to a three-month high. While inflation rose to 7% last month com...
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These were the 5 hottest coins on Twitter last week — And their price dynamics

Data shows that spikes in Twitter mentions preceded price peaks in three of last week’s five most discussed altcoins. Crypto Twitter is a powerful place. Not only does the online discussion follow the ups and downs of digital assets, but it can also shape price action. Oftentimes, a spike in Twitter attention can anticipate a dramatic increase in an asset’s price. Yet, in other cases, the order can be reversed, or there may be no relationship between price and Twitter chatter at all. To harness the power of Twitter and use it as a tool for profit generation, crypto traders need two things: The first is the ability to quickly spot spikes in social attention around specific assets, while the second is sound judgment to tell if the anomaly is indeed a harbinger of an impending rally. While there are reliable algorithmic tools that cover the first ingredient — such as Cointelegraph Markets Pro’s Unusual Twitter Volume indicator — the latter requires instincts and experience. The follo...
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NYC Mayor Adams to receive first paycheck in cryptocurrency Friday

Mayor Eric Adams previously said he would be accepting his first three paychecks, or $97,000 annualized, in cryptocurrency. On Thursday, New York City Mayor Eric Adams  announced he would be taking his first paycheck in Bitcoin ( BTC ) and Ether ( ETH ), with the funds arriving Friday. The salary will not be directly paid out as crypto; instead, it will be first issued in fiat as U.S. dollars and then converted into the digital currencies on crypCoinbase. Due to United States Department of Labor and various state-level regulations, resident U.S. employees typically cannot receive their remuneration directly in cryptocurrency. This is partly because the Internal Revenue Service classifies dollar wage payments as income, whereas items such as stock-based compensation or cryptocurrencies are classified as property. Mayor Adams issued the following statement regarding his choice of remuneration: “New York is the center of the world, and we want it to be the center of cryptocurre...
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SEC Chairman Gary Gensler Stresses Crypto Trading Platforms Must Be Regulated to Ensure Investor Protection

The U.S. Securities and Exchange Commission (SEC) is focusing on bringing cryptocurrency exchanges “inside the investor protection remit,” Chairman Gary Gensler has revealed. “If the trading platforms don’t come into the regulated space, it’d be another year of the public being vulnerable,” he stressed. SEC Focusing on Regulating Crypto Exchanges The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, talked about crypto regulation and the SEC’s priorities in a virtual press conference Wednesday. Gensler said that he’s hopeful cryptocurrency trading platforms will take steps to become more directly regulated in the coming months. The chairman emphasized that additional oversight of crypto trading platforms is crucial for crypto investors to get the same kind of protection they have when trading stocks or other regulated financial instruments. “I’ve asked staff to look at every way to get these platforms inside the investor protection remit,” the SEC boss r...
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SEC rejects Skybridge's application for spot Bitcoin ETF

The commission rejected a rule change allowing listing and trading shares of the First Trust SkyBridge Bitcoin ETF Trust, citing similar reasons for disapproving Bitcoin spot ETFs from VanEck in November and WisdomTree in December. The United States Securities and Exchange Commission, or SEC, has officially disapproved the application for First Trust SkyBridge’s spot Bitcoin exchange-traded fund after several deferments. In a Thursday filing, the SEC rejected a proposed rule change from the New York Stock Exchange, or NYSE, Arca to list and trade shares of the First Trust SkyBridge Bitcoin ETF Trust. The SEC said any rule change in favor of approving the ETF would not be “‘designed to prevent fraudulent and manipulative acts and practices” nor “protect investors and the public interest.” The decision follows SkyBridge first applying to list a Bitcoin ETF on the NYSE in March 2021. The SEC twice designated a longer period to approve or disapprove the proposed rule change for the E...
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