October 26, 2021

IMF Partly Blames Uncertainty in Nigeria’s Forex Market for Drop in Remittances

The uncertainty that prevails in Nigeria’s foreign exchange market is partly to blame for the plunge in cross-border remittances into the country, an official with the International Monetary Fund (IMF) has said. Covid-19 Another Contributing Factor According to a report by local news outlet Punch, the official, Abebe Selassie, said this in response to a question posed to him during a virtual press briefing. However, in his two-part response to the question, Selassie starts by acknowledging the impact the global Covid-19 pandemic has had on cross-border remittances in general. He then asserts that the uncertainty over Nigeria’s exchange rate similarly contributed to the 28% drop in remittances into Nigeria. “A second factor, I think, is the uncertainty in the foreign exchange market that has prevailed in Nigeria over the last year. I don’t think that it has been very conducive […]
October 26, 2021

Tether trials Notabene’s new travel rule technology to combat financial crimes

The “Travel Rule” aims to bring reporting standards for virtual asset service providers in line with other traditional financial institutions.
October 26, 2021

Bank of Spain Opens Registry for Crypto-Service Providers

After months of waiting, the Bank of Spain has finally issued instructions on how to register to offer crypto-related services in the country. Institutions are instructed to apply through an electronic registry, after which the central bank will take up to three months to consider the application. The process was first announced by Spain’s central bank in June, with a promise that instructions on how to proceed would be issued in due course. These instructions have now finally arrived. Much of the uncertainty related to whether existing mainstream financial institutions, such as banks, would have to register since they are already regulated entities. The Bank of Spain has now made it clear that they do: “The obligation to register in this registry applies to all natural or legal persons who are in any of the above cases and provide virtual […]
October 26, 2021

Taproot, Bitcoin’s Next Big Upgrade, Might Already Be Priced In

The last time the Bitcoin network locked in a major upgrade, in July 2017, the cryptocurrency’s price jumped almost 50% through Aug. 23, when the changes went live. Now, as the original blockchain network prepares for its next big upgrade in November, known as Taproot, few investors are expecting a price reaction remotely on that scale. The bitcoin price has already doubled this year and hit a new all-time high near $67,000 last week. While further gains are possible, Taproot alone probably wouldn’t be the catalyst. “The Taproot upgrade will have minimal impact on bitcoin’s price,” said Edward Moya, senior market analyst for the online foreign-exchange broker Oanda. Set to go into effect on Nov. 16, the Taproot upgrade is designed to increase privacy protections on some transactions over the network through an innovation known as “Schnorr signatures.” The upgrade […]
October 26, 2021

Bank of Spain Opens Mandatory Registry for VASPs

The Bank Of Spain has finally opened the mandatory registry for Virtual Asset Service Providers (VASPs) in the country. The bank also dispelled doubts that financial institutions had regarding whether they had to apply for the registry given they already comply with AML legislation. All institutions and persons must apply for the registry if they want to provide crypto-related services in Spain. Registry Opened for VASPs The Bank of Spain has finally opened the registry for Virtual Asset Service Providers (VASPs) in the country and clarified its scope and the kind of companies and individuals that should register. According to the statements posted on the Virtual Office of the Bank of Spain, all platforms offering services in Spain must register, even those not located in the country. The Bank of Spain also stipulated that companies can only register via internet, […]
October 26, 2021

Fractional-Algorithmic Stablecoin Protocol Frax’s Governance Token FXS Surges 80% on Supply Squeeze

There is never a dull moment in the crypto market. While bitcoin and the broader crypto market appear to be in stasis at press time, FXS, a governance token of a lesser-known fractional algorithmic stablecoin protocol Frax, has jumped 80% in 24-hour. You read it right; in a single day, the token has gained nearly twice more than what bitcoin has done so far this month and is now trading near $14.40, according to data provided by Messari. “People seem to be buying FXS from an already limited circulating supply to earn juicy yields from Tokemak’s dedicated reactor launch,” Alex Svanevik, CEO of blockchain data company Nansen told CoinDesk in a Telegram chat. “75% of all circulating FXS [16,209,404.70] is locked away for an average of 1.08 years, circulating supply is heavily locked as veFXS (similar to veCRV).” The Ethereum-based […]
October 26, 2021

Tether Partners With Identity Startup Notabene on Travel Rule Compliance

Stablecoin issuer Tether is taking steps to be more compliant with global crypto regulations. Tether announced on Tuesday that it has begun a trial partnership with Notabene, a digital identity startup that provides know-your-customer (KYC) infrastructure to crypto exchanges, to help it comply with the Financial Action Task Force (FATF)’s “travel rule,” which requires financial institutions to exchange KYC information for both senders and recipients of relevant transactions. The Paris-based global, money-laundering watchdog’s guidelines for crypto compliance have expanded to include exchanges and stablecoin issuers, which it calls virtual asset service providers, or “VASPs”. Tether’s trial partnership with Notabene comes as the stablecoin issuer wrestles with probes and lawsuits from regulators over its financial backing, and accusations from the crypto community that it has not been transparent. According to Tether Chief Compliance Officer Leonardo Real, the partnership with Notabene is […]
October 26, 2021

Blockchain Data Indexer The Graph Launches on NEAR

Developers on the NEAR blockchain are getting a lift Tuesday with data indexing and query service The Graph going live in beta. The Graph is a decentralized indexer used by developers to access key data such as prices on automated market makers (AMMs), user information and other on-chain metrics. The protocol is currently live on 25 blockchain networks. Tegan Kline, a co-founder of The Graph developer Edge & Node, told CoinDesk in an interview that it took “many months” to complete the integration, as The Graph has previously only expanded to Ethereum Virtual Machine (EVM)-compatible chains. The protocol managed to make the migration by virtue of a grant to blockchain data company StreamingFast, which became a core The Graph contributor earlier in the year. Kline also said that developers can expect to find The Graph on other non-EVM chains in […]
October 26, 2021

Dubai Issues New Rules for Security, Derivatives Tokens

Dubai’s Financial Services Agency announced new rules for “investment tokens,” which can represent securities or be derivatives. The agency defines investment tokens as cryptographically secured tokens that have some of the same attributes as securities and derivatives, and are issued, transferred and stored using distributed ledger technology. These tokens are different to exchange tokens, or cryptocurrencies. Security tokens are blockchain-based representations of underlying assets, and derivatives tokens derive their value from other tokens. The framework, which is not detailed in the announcement, applies to any firms that want to issue or trade investment tokens in the emirate’s Dubai International Financial Centre and accredited firms that wish to offer financial services related to investment tokens. The DFSA is also planning to roll out a framework for exchange and utility tokens, as well as some asset-backed tokens such as stablecoins, according to […]
October 26, 2021

South Korean pension fund to invest in Bitcoin ETF: Report

KTCU plans to invest in Bitcoin ETF products after consultation with domestic asset managers,” an executive reportedly said.
October 26, 2021

Cardano (ADA) Price Analysis: Key Hurdle At $2.25

ADA price is struggling to clear the $2.20 and $2.25 resistance levels against the US Dollar. The price is now trading above $2.15 and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $2.25 on the 4-hours chart (data feed via Bitfinex). The price might start a fresh increase if it manages to clear the $2.25 resistance zone. Cardano price is struggling below the $2.25 resistance against the US Dollar, unlike bitcoin. ADA price must clear $2.25 to start a fresh increase. Cardano Price Analysis After a close above $2.20, cardano price attempted a break above the $2.25 resistance zone against the US Dollar. The ADA/USD pair spiked above $2.25, but it failed to stay in the positive zone. It traded as high as $2.298 before there was a sharp bearish wave. […]
October 26, 2021

Dubai regulator announces new regulations for investment tokens

The UAE continues to be one of the most friendly jurisdictions worldwide for the digital asset industry.
October 26, 2021

UK FCA grants registration to crypto startup Crypterium

Crypterium’s cryptocurrency wallet application is available in more than 170 countries, the company says.
October 26, 2021

GBTC delivered better returns than Bitcoin ETFs last week

Grayscale’s flagship Bitcoin fund had no competition from the newly-launched ETF products in their first seven days, figures show.
October 26, 2021

Valour Uniswap exchange-traded product to increase UNI exposure

Valour Uniswap ETP, with UNI as the underlying asset, launches on the Boerse Frankfurt Zertifikate AG stock exchange.
October 26, 2021

Colombian Government Might Take Unused Funds From Bank Accounts Inactive for a Year

The budget law for the next year, which was recently approved by the Colombian representative’s chamber, includes a controversial article that allows the state to confiscate a bank customer’s funds to be used for budgetary purposes. Under certain circumstances defined by the law, these could funds may be retrieved if the account holders’ prove their ownership. Colombian Government Craving Unused Funds The new budget law that was approved last week via an express vote by Colombian legislators, has introduced a controversial change, allowing the government to take a client’s funds that have been inactive in bank accounts for more than a year. Article 81 of the mentioned budge law details the procedure followed to do this. It states: The balances of the checking or savings accounts that have been inactive for a period of more than one year and do […]
October 26, 2021

CME Leveraged Funds Raise Bets Against Bitcoin to Record High as Futures Premium Spikes

Leveraged funds on the Chicago Mercantile Exchange (CME) raised their bets against bitcoin to record high in the week ended Oct. 19, possibly to profit from the widening gap between futures and spot markets prices. The Commodity Futures Trading Commission’s (CFTC) Commitments of Traders report released on Friday showed leveraged funds held a net short position of 31,000 contracts in the seven days to Oct. 19, marking an increase of 6,000 from the previous week. Record shorts by leverage funds does not necessarily mean these traders had a bearish bias. They may have raised short positions in the futures market and simultaneously bought the cryptocurrency in the spot market, booking the so-called
October 26, 2021

SuperRare has fewer buyers, but they purchase more expensive NFTs, data shows

Despite reaching a higher total sales volume this month, SuperRare has half as many active collectors buying on the marketplace this month compared to March.
October 26, 2021

Ethereum Price Analysis: ETH Could Extend Rally

Ethereum price started a fresh increase above $4,000 against the US Dollar. ETH price is now trading above $4,000 and the 55 simple moving average (4-hours). There is a major bullish trend line forming with support near $4,120 the 4-hours chart (data feed from Coinbase). The pair could start a fresh rally if it clears the $4,260 resistance zone. Ethereum price is showing positive signs above $4,000 against the US Dollar. ETH/USD could gain pace above the $4,250 and $4,260 levels in the near term. Ethereum Price Analysis After forming a base above $3,500, ethereum started a fresh increase against the US Dollar. ETH price gained pace above the $4,000 level and the 55 simple moving average (4-hours). The price climbed above the $4,200 and $4,300 resistance levels. It even traded above the $4,350 level and formed a high near […]
October 26, 2021

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.
October 26, 2021

BitGo integrates Stacks to bring Bitcoin DeFi to institutions

BitGo, a provider of institutional-grade liquidity, custody & security for digital assets, today announced support for Stacks, a network that has created the technology needed to bring applications and smart contracts to the Bitcoin network. In order to match the demand for institutions wanting to hold bitcoin, BitGo will now offer institutional token holders the opportunity to earn BTC rewards for holding Stacks’ native token (STX) in a process known as Stacking. This in turn makes Bitcoin DeFi immediately accessible to large financial institutions and BitGo’s massive network of clients. Compared to other popular yield-earning solutions in the market, the bitcoin yield from Stacking is not generated via a lending action, meaning that token holders do not need to lend their funds out in order to earn a reward. Instead, the yield is derived directly from the Stacks’ consensus mechanism that ties the Stacks blockchain to the Bitcoin blockchain. In a regulatory environment […]
October 26, 2021

Crypto wallet app Crypterium gains FCA registration

Crypterium, a cryptocurrency wallet app with over 400,000 clients in over 170 countries, has recently been registered by the UK’s Financial Conduct Authority (FCA) to provide cryptocurrency services to UK citizens and companies (registered firm), one of only a small handful of companies to have passed the registration process from almost 200 that have so far applied. This registration ensures that as Brexit measures kick in, Crypterium can continue to provide its crypto wallet services, including its crypto Visa cards and exchange functions, to practically everybody in the UK. Not only that, but Crypterium’s B2B offering can provide the same level of functionality to UK businesses. FCA crypto registration is an extensive, detailed process, taking almost 18 months of policies and processes assessment before approval is granted. “Becoming an FCA-registered firm is a fantastic opportunity. From now on, interested parties […]
October 26, 2021

OlympusDAO developer launches protocol enabling one-to-one stablecoin swaps

Developer ‘Ohmzeus’ has launched a new protocol allowing stablecoins to swapped at fixed price of exactly one-to-one.
October 26, 2021

Start-up CGU Raises $2.5 Million USD in Third Public Round

PRESS RELEASE. A crypto platform Crypto Gaming United (CGU), which has joined the crypto exchange TimeX on the 18th of october, made $2.5 million in a record-breaking six seconds since public token trading began. One of the co-founders of the project is a crypto-currency, DeFi and blockchain app entrepreneur Sergei Sergienko born in Russia. CGU operates on the principles of uber-economy. Gamers don’t need to spend money on the initial purchase of NFT-characters. The platform rents them out to players in exchange for a share of their daily income. Meanwhile the games themselves reward players with income proportionate to their in-game skill and performance. The open market sale of GCU tokens became the third and final investment round. For context, previously the seed and pre-IDO rounds had ended at $5 million and $10 million respectively. The tokens released during these […]
October 26, 2021

UK Regtech Firm ComplyAdvantage Adds Elliptic to Its Crypto Compliance Suite

London-based regtech firm ComplyAdvantage is beefing up its cryptocurrency anti-money laundering (AML) capabilities by partnering with blockchain sleuthing company Elliptic. ComplyAdvantage is already working with crypto firms like Paxos and Gemini, but mainly to assist on the fiat AML side of things, said ComplyAdvantage Vice President Rob Dickinson. White-labeling Elliptic’s blockchain tracking and wallet attestation provides Dickinson’s firm with deeper on-chain detection tools. “What we already provide for some of the larger crypto exchanges is the behavioral side. So looking at when Entity A sends money to Entity B via Entity C,” Dickinson explained in an interview. “Elliptic then gives us the ability to say this entity, if you follow up or down the chain, is linked to a darkweb pool somewhere, or a less-than-reputable exchange elsewhere.” Partnering with blockchain sleuthing firms is probably a smart move, particularly in light […]
October 26, 2021

Alleged South African Bitcoin Fraudster Makes First Court Appearance Since Arrest

Sandile Shezi, the South African bitcoin trader accused of defrauding investors, recently made his first court appearance before a Johannesburg magistrate. Shezi out on Bail The bitcoin trader’s court appearance came just days after he honored his pledge to surrender himself to the police. However, according to a report by the Sowetan, Shezi — who is now out on bail — is set to return to court on November 24. As previously reported by Bitcoin.com News, Shezi is facing fraud allegations that stem from his failure to honor promises he made to Allan Ledwaba, an investor in the latter’s Global Forex Institute. Although Shezi has repeatedly denied the allegations, Ledwaba and an unnamed investor still went on to file complaints against the bitcoin trader. The filing of these complaints then culminated in the issuing of the warrant for the bitcoin […]
October 26, 2021

Pro sports leagues are no longer resisting NFTs: Dapper Labs

Dapper Labs’ head of partnerships said pro sports leagues have opened to their arms to NFTs amid the sector’s booming growth this year.
October 26, 2021

Stellar partners tap USDC for remittances between Europe and Africa

Flutterwave is teaming up Tempo Payments to use USDC on Stellar to target Africa’s enormous remittances market.
October 26, 2021

Okcoin reports altcoins drove institutional interest in crypto for 2021

The recent purchasing behavior of institutional investors contrasts with that in 2020 and earlier, when “institutions exclusively favored altcoins that were at least four years old, such as Ether and Litecoin.”
October 26, 2021

Bakkt shares skyrocket after partnering with Mastercard and Fiserv

Bakkt’s share price surged by 120% during Monday’s trading session on the heels of fresh partnerships with global payments firms.
October 26, 2021

SEC expected to head U.S. stablecoin regulation and enforcement

The report is also expected to clarify the regulatory jurisdiction of the Treasury Department CFTC with regards to stable tokens.
October 26, 2021

Elon Musk Reveals Real Reason He Supports Dogecoin, Says Many People at Tesla and Spacex Own DOGE

Elon Musk has revealed the real reason he supports the meme cryptocurrency dogecoin. He shared that a lot of people he talks to at his companies, Tesla and Spacex, own dogecoin, noting that “it felt like the people’s crypto.” Lots of People Elon Musk Talks to at Spacex and Tesla Own Dogecoin Tesla and Spacex CEO Elon Musk revealed Sunday the real reason he began supporting dogecoin. He noted that many people he talks to at both companies own the meme cryptocurrency. Responding to a tweet by dogecoin holder Glauber Contessoto, who said the appeal for DOGE is real, referencing a survey that found about a third of U.S. crypto holders own the meme cryptocurrency, Musk wrote: Lots of people I talked to on the production lines at Tesla or building rockets at Spacex own Doge. They aren’t financial experts […]
October 26, 2021

Telsa hints it may soon resume support for crypto payments

Tesla believes cryptocurrencies could emerge as a “liquid alternative to cash” over the longer term.
October 26, 2021

3 reasons why Harmony (ONE) rallied to a new all-time high

ONE hits a new all-time high following a series of major partnerships and the launch of a $300 million ecosystem development fund.
October 25, 2021

Mastercard to Enable Merchants on Its Network to Offer Crypto Products and Services

Payments giant Mastercard has partnered with a cryptocurrency exchange to allow its partners and merchants in the U.S. to offer crypto solutions, including the buying, selling, and holding of cryptocurrencies. “We want to offer all of our partners the ability to more easily add crypto services to whatever it is they’re doing.” Mastercard’s Network Integrates Crypto Mastercard (NYSE: MA) and cryptocurrency exchange platform Bakkt (NYSE: BKKT) announced “a multifaceted partnership” Monday at the Money20/20 event. The partnership aims “to make it easier for merchants, banks, and fintechs in the U.S. to embrace and offer a broad set of cryptocurrency solutions and services,” the announcement details. “Bakkt extends Mastercard’s ecosystem of cryptocurrency partners enabling crypto-as-a-service, which provides quick access to cryptocurrency capabilities.” The two companies explained: Mastercard partners will be able to offer cryptocurrency solutions. These include the ability for consumers […]
October 25, 2021

US Treasury Report to Give SEC Oversight on Stablecoins: Report

The U.S. Securities and Exchange Commission (SEC) may have moved one step closer to achieving significant oversight on stablecoins. According to a Bloomberg article on Monday, which cited people familiar with the matter, a report expected this week by the U.S. Treasury Department and other agencies will indicate that the SEC has significant authority to regulate cryptos pegged 1:1 to fiat currency. The report will also ask Congress to detail how stablecoins should be regulated in the same way bank deposits are. Gary Gensler reportedly pushed for changes behind closed doors. Gensler is seeking to make clear the government will take a more active role in stablecoin regulation in the short-term while awaiting legislative changes in the long term, according to the report. Read more: Gary Gensler Says Crypto Is a ‘Wild West.’ Others See Pure Capitalism
October 25, 2021

Player’s Wins a $120,000 Jackpot on Slot Game, Wish Granted by King Elvis

Player wins a mighty big jackpot in the flashy new sequel Aloha King Elvis! on our crypto casino! A massive 1000x on the exciting Hawaiian-themed slot game The charismatic Elvis Frog has been taking a trip to Hawaii lately in BGaming’s popular new slot game on Bitcoin.com’s very own crypto casino. The titular character King Elvis has now bestowed riches upon one lucky player who landed a massive win on Aloha King Elvis! This big win comes at the onset of Halloween that should allow the player to enjoy his newly acquired riches quite festively. The Hawaiian-themed slot game features two jackpots, namely a Mini and a Major, both applying a 200x and a 1000x multiplier to the player bet amount respectively. A Major jackpot was applied to the lucky player’s bet that propelled his casino wallet’s balance into an […]
October 25, 2021

Binance CEO expects ‘very high volatility’ in crypto. Here’s how to trade it

Here’s how options traders would play the “very high volatility” that Binance founder Changpeng Zhao suggested will impact the crypto market over “the next few months”.
October 25, 2021

BlockFi partners with Neuberger Berman to launch crypto ETFs

“We are witnessing a significant shift in investor sentiment towards digital assets, and we believe that digital assets should be considered in modern portfolios,” said Greg Collett, president of the joint venture.
October 25, 2021

Metawars Concludes Raise With Reputable Supporters and Partners

PRESS RELEASE. MetaWars, an innovative, multiplayer strategy blockchain-based game, has successfully raised $2.3 million USD from its supporting investors. MetaWars has collaborated with various investors and partners to incorporate blockchain into the emerging gaming industry and revolutionize NFTs. The game has recently announced their exclusive NFT auction starting from October 21st. The auction will be ongoing until the date of their confirmed TGE, the 27th of October. The NFT auction offers participants a range of NFTs that provide advantageous benefits for players in-game from a minimum price of 0.2 BNB. To know more about MetaWars’ exclusive NFT auction event, visit here. MetaWars, as mentioned, will be hosting their TGE on the 27th of October in collaboration with three launchpads, Polylauncher, Red Kite and GameFi. Their utility token, $WARS, has a total supply of 1,500,000,000 and is required for an in-game […]
October 25, 2021

Coinbase Is Now the Official Crypto Exchange of the NBA

Coinbase has had an exciting week. After forming a partnership with Facebook to provide support and custody services for its new Novi wallet, the popular digital currency exchange is joining hands with the National Basketball Association (NBA), which some believe will make it possible to pay for merchandise and event tickets with crypto in the coming future. Coinbase Has Joined Hands with the NBA The sports association issued a press release claiming that Coinbase will now be the official crypto platforms for several basketball divisions including the Women’s National Basketball Association (WNBA), the NBA G League, and USA Basketball. The release explains: The deal, which marks the first cryptocurrency platform partnership for each league, will consist of unique content, innovations, activations and experiences from Coinbase to educate fans on the increasing advancements happening across the crypto economy. Kate Rouch – […]
October 25, 2021

Facebook to Break Out Results for Augmented/Virtual Reality Division Starting in Q4

Facebook will begin breaking out results for Facebook Reality Labs (FRL), its augmented/virtual reality division, starting in the fourth quarter, the company announced in its third quarter earnings release. ”As we have discussed, we are dedicating significant resources toward our augmented and virtual reality products and services, which are an important part of our work to develop the next generation of online social experiences,” the company said. “The new segment disclosures will provide additional information on the performance of FRL and the investments we are making.” CEO Mark Zuckerberg has discussed plans to reposition Facebook as a metaverse company, and there have been recent reports the company plans to rebrand and potentially even rename itself accordingly. Starting in the fourth quarter, Facebook said it will have a new reporting structure with two reportable segments: Family of Apps (FoA), which includes […]
October 25, 2021

Swarm of Alternative Crypto Assets Outpace Bitcoin’s Gains by Double Digits This Week

After the price of bitcoin tapped an all-time high above the $67K handle, it then dropped below the $60K zone to $59,510 per unit. Since then, the leading crypto asset has regained some of the losses and bitcoin is still up 2.4% during the last seven days. However, a great number of crypto assets have outperformed bitcoin’s weekly rise, capturing double-digit gains as high as 65.1%. Thorchain, Nexo, Near, Okb, Shiba Inu, Safemoon Values Spike Digital currency markets are on the move again as the $2.733 trillion market valuation of all 10,000+ crypto assets is up 4.6% on Monday. BTC has jumped a bit higher during the latter half of Sunday’s trading sessions into Monday and BTC has gained 2.4% this past week. But there’s over 55 different digital assets that have outperformed BTC’s weekly gains. The top seven-day gainer […]
October 25, 2021

Market Wrap: Bitcoin Rises Again as Altcoins Outperform

Bitcoin is recovering from a weekend dip as traders anticipate the third U.S. futures-focused bitcoin exchange-traded fund (ETF) listing. The VanEck Bitcoin Futures ETF is expected to launch on Tuesday and will trade under the ticker symbol XBTF. Analysts continue to expect further upside in bitcoin’s price given strong investor sentiment on ETF approvals. Last week, crypto investment funds saw a record $1.47 billion in inflows as investors positioned themselves ahead of the first U.S. bitcoin-linked ETF launch, by ProShares. Alternative cryptocurrency-focused funds also saw inflows, which coincided with a near 30% rise in Solana’s SOL token over the past week. Analysts are also monitoring the recent rotation to alternative coins (altcoins), which are starting to outperform bitcoin. “The crypto market is turning from being dominated by short-term traders who want to ride the speculative trends to longer-term investors who […]
October 25, 2021

Price analysis 10/25: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI

Bitcoin and several altcoins are attempting to resume their uptrend, but higher levels are likely to witness strong resistance from the bears.
October 25, 2021

The Sioux Energy Center has mined 20 Bitcoin in secret since April

The environmental impacts of the site were quickly called into question following the reveal.
October 25, 2021

NFTs and the Patronage Model

Last week, a crypto investment collective called PleasrDAO paid $4 million for a copy of the Wu-Tang Clan’s seventh album, “Once Upon a Time in Shaolin.” If that sounds insane to you, consider the circumstances, which are also insane. The record was conceived as a one-of-one physical edition – just one CD would ever be made, and whoever bought that one copy would be contractually forbidden from distributing it for sale. Martin Shkreli, the notorious pharmaceutical executive and fraudster, bought the album back in 2015. He held onto it until 2018, when the federal government confiscated it in the wake of his fraud conviction. This article is excerpted from The Node, CoinDesk’s daily roundup of the most pivotal stories in blockchain and crypto news. You can subscribe to get the full newsletter here. Announcing their purchase of the record last […]
October 25, 2021

DCG’s $1B Pledge and an SEC Filing Kindle Fresh Speculation on ‘Grayscale Discount’

Last week Digital Currency Group, a crypto-industry holding company, opened its wallet to defend its Grayscale subsidiary’s Grayscale Bitcoin Trust (GBTC), when the fund’s shares traded at a 20.53% discount to its underlying bitcoin holdings – the steepest in five months. Digital Currency Group’s pledge to buy as much as $1 billion worth of GBTC shares might have represented savvy, opportunistic timing. Or it might have been a demonstration of support for the $39.45 billion GBTC, the world’s largest bitcoin fund, in the face of increasing competition. Then, a day later, Grayscale officially filed with the U.S. Securities and Exchange Commission to convert the trust into a spot-based exchange-traded fund (ETF), even though SEC Chair Gary Gensler has signaled his preference for an ETF investing in bitcoin futures. (In recent days several futures ETFs have been approved in the U.S.) […]
October 25, 2021

Matt Damon partners with Crypto.com around clean water project

The Hollywood star co-founded the nonprofit organization Water.org in 2009. Its mandate is to help eradicate the global water crisis.
October 25, 2021

Why Everyone Is Mad at Sam Altman’s Worldcoin

Sam Altman’s Worldcoin project, which promises to distribute a universal basic income (UBI) to global citizens willing to have their retina scanned, came in for a fresh round of incredulous backlash from privacy advocates after announcing new funding last week. Early info about Worldcoin first surfaced in June, and I eviscerated it for the ominous implications of gathering biometric data from the global poor (and the godawful optics of naming the Big Brother device at the center of it all the “Orb”). But it seems Sam Altman doesn’t read CoinDesk, because four months later the project is moving ahead basically unchanged. Altman’s effort to build the CIA’s wet dream will now be backed by $25 million from Andreessen Horowitz, Coinbase Ventures, and Digital Currency Group (Yes, that’s CoinDesk’s parent company: We don’t like everything the bosses do, and we write […]
October 25, 2021

While Musk Mentions Doge Improvements, Dogecoin Developers Continue to Address Scaling Concerns

On Sunday, Elon Musk discussed his relationship with the Dogecoin Foundation and he mentioned a few improvements he’d like to see implemented via Dogecoin Core’s codebase. Meanwhile, Github metrics show developers have been working on Dogecoin Core during the last few months and it seems Dogecoin software engineers are prepping the network to address fees, transaction time, and mining. Dogecoin Proponents Including Elon Musk Patiently Wait for a fee Change Fix, Dogecoin Core Repo Has Been Active At the end of June, Tesla’s CEO Elon Musk tweeted about the fee change proposal added to the Dogecoin Core Github repository. At the time, Musk said it was “important to support” it. The following week, people noticed that Dogecoin software developers Ross Nicoll and Patrick Lodder were maintaining the project and looking to add Musk’s suggestions. Lodder’s Dogecoin Core fee change proposal […]
October 25, 2021

Mariah Carey Is Putting Money in the Gemini Exchange

Grammy-winning singer and musician Mariah Carey has become the latest celebrity to join the growing cryptocurrency craze. Mariah Carey Is Building a Bridge Between Women and Crypto In a recent press release, it was revealed that Carey is the latest major investor in the Gemini Exchange, a popular cryptocurrency trading platform founded by Cameron and Tyler Winklevoss in New York. The Winklevoss Twins – as they are casually called – garnered heavy fame thanks to the 2010 Oscar-winning film “The Social Network” that details their legal battle with Mark Zuckerberg, who allegedly stole their ideas and used them to develop the social media giant Facebook. Carey says she wants to get involved in crypto to inspire other women to step out of the normal investing cages. She has noticed a major gap between the number of men and women involved […]
October 25, 2021

Web 3.0-focused altcoins soar as the need for truly decentralized crypto grows

PRQ, HNS and NEAR lead the altcoin market as interoperability and Web 3.0 functionality begin to emerge as the next hot trend in the crypto sector.
October 25, 2021

Storj

Storj (STORJ) is the native cryptocurrency of Storj, a decentralized cloud storage (DCS) platform that uses blockchain technology to provide decentralized and encrypted cloud storage. Operating on the Ethereum blockchain, Storj is an alternative to centralized cloud storage platforms such as Amazon Web Services or Google Cloud. Storj allows individuals to make their hard drive space available for rent, and users of the platform can use other peoples’ hard drive space to store files. Storj price The Storj Network uses the STORJ token, released in 2017, to power its network. Prior to the release of the token, a legacy token, SJCX existed with a supply of 500 million. In 2017, the legacy SJCX token was discontinued and the project migrated from the Bitcoin-based Counterparty platform to the Ethereum blockchain. Until January 2020, legacy SJCX token holders were able to convert […]
October 25, 2021

Enzyme

Melon (MLN) is the native cryptocurrency of Enzyme Finance: a decentralized asset management platform built on the Ethereum blockchain. The protocol is intended for people or entities to manage their wealth or the wealth of others on a customized blockchain, according to Enzyme’s white paper. MLN sale, price MLN (Melon) is an ERC-20 token (a fungible crypto token compatible with the Ethereum blockchain) that powers Enzyme, which was formerly known as the Melon Protocol. The token essentially facilitates asset management on decentralized finance (DeFi) apps. Users acquire the MLN token to build investment DeFi strategies. The company distributed 1.25 million MLN coins between 2017 and 2018 and raised $2.9 million in an initial coin offering (ICO) in 2017. The MLN price reached an all-time high of $258.26 in January 2018. Since then, MLN has generally outperformed larger cryptocurrencies such as […]
October 25, 2021

district0x

DNT is the native cryptocurrency of District0x: a platform based on the Ethereum blockchain that provides tools for developers to create their own decentralized marketplaces and communities known as “districts.” Think of it as a platform for creating your own eBay, but instead of it being owned and operated by a single company, all marketplaces that are created run completely autonomously. That is all possible thanks to Ethereum smart contracts – self-executing computer codes that automatically perform certain functions when predetermined conditions are met. DNT price DNT is an ERC-20 token that launched on Aug.1, 2017. Some 600 million DNT tokens were sold during an initial coin offering (ICO), securing 43,170 ether, which was worth about $9 million at the time. A further 400 million tokens were created and distributed among the project’s founders, early contributors and advisers. The DNT […]
October 25, 2021

Mastercard Is Integrating Crypto Payments Through a New Partnership With Bakkt

Mastercard and digital asset platform Bakkt are partnering to allow merchants and banks to build cryptocurrency into their offerings, the companies announced Monday. The two plan to also shake up the way consumers can collect loyalty rewards. Mastercard said in a statement that consumers can buy, sell and hold digital assets through custodial wallets offered by Bakkt, and customers can collect and spend loyalty rewards through cryptocurrency. The move brings the universe of cryptocurrency one step closer to bridging the gap with the traditional credit card payment industry. Bakkt is also appealing to younger consumers, according to its executive vice president of loyalty rewards and payments. “As brands and merchants look to appeal to younger consumers and their transaction preferences, these new offerings represent a unique opportunity to satisfy increasing demand for crypto, payment and rewards flexibility,” Bakkt’s Nancy Gordon […]
October 25, 2021

Algorand

Algorand (ALGO) is an open-source, payments-focused blockchain network that aims to solve one of the most persistent problems facing cryptocurrency: scalability. To do that, Algorand employs a novel, more scalable form of “proof-of-stake,” a consensus mechanism that’s critical for securing blockchains and making sure no one can create new tokens out of thin air that they didn’t earn. ALGO price The supply of Algorand’s native cryptocurrency, ALGO, is capped at 10 billion tokens, created at the time Algorand launched in 2019. Many of those coins are locked up and have yet to be distributed. Some of the tokens have been allocated to the organizations that are developing the Algorand platform. The allocation includes the following: 2 billion (20%) of ALGO went to Algorand Inc., which reports in detail how it uses the funds on its website. 500 million (5%) of […]
October 25, 2021

Solana Hits New Record High as Layer 1 Tokens Follow Bitcoin’s Gains

Prices for Solana’s SOL tokens hit a record high during early U.S. trading hours on Monday, as a majority of tokens representing layer 1 blockchains followed bitcoin, which hit its own record last week. Solana, the native token of Solana, a public blockchain that is backed by Sam Bankman-Fried, the founder of crypto exchange FTX, hit a record $218.9 on Monday, according to TradingView. “SOL was a top performer over the last few months… [It’s] only natural for it to perform well during the next leg of the bull cycle,” Ashwath Balakrishnan, research associate at crypto research boutique firm Delphi Digital, told CoinDesk. “Crypto runs on memetics…So what performs well during uptrends is what everyone is looking to buy.” According to decentralized finance data provider Defi Llama, the total value locked (TVL) in Solana reached an all-time high of approximately […]
October 25, 2021

Aragon

ANT is the native cryptocurrency of Aragon: a blockchain-based platform that allows users to build and manage their own decentralized autonomous organizations (DAOs). A DAO lets people form groups that are governed by a defined set of computer codes, as opposed to a single leader. Users are required to hold ANT in order to vote on certain proposals related to a DAO, such as how to invest everyone’s pooled funds. They can also trade ANT for two other coins that exist in the Aragon ecosystem  – ANJ and ARA. The Aragon project runs on the Ethereum blockchain platform, relying on a globally distributed network of users to collectively manage its code. ANT price ANT is an ERC-20 token – a type of fungible token created to be compatible with the Ethereum network. In May 2017, 70% of ANT tokens were […]
October 25, 2021

Ethereum competitor Near launches $800M developer fund as DeFi competition heats up

Total value locked across all decentralized finance projects topped $247 billion on Monday. Near and other smart contract platforms are looking to capitalize.
October 25, 2021

Bitcoin charges toward $64K as Tesla ATH boosts Elon Musk to $250B net worth

Tesla stock nears $1,000 for the first time as a resurgent Bitcoin completes its lower support retest and aims for $64,000.
October 25, 2021

Cathie Wood Hesitates to Invest in the Pro Shares ETF

Cathie Wood – the founder and CEO of Ark Invest – is acknowledging that the new bitcoin-based exchange-traded fund (ETF) is a step in the right direction. However, she’s not jumping in headfirst. Rather, she’s choosing to take her time and observe things for a little while so that she can better understand how the ETF will work and operate prior to getting involved. Cathie Wood Hasn’t Invested in the BTC ETF Just Yet At a recent conference, Wood was asked if she or her company had yet invested in the Pro Shares ETF product. She responded with the following: No, we did not. We’re looking at this very carefully. There are some tax ramifications we’d like to understand more having to do with contango versus more normal backwardation. The bitcoin ETF is an interesting and controversial topic for many […]
October 25, 2021

A Brief Review of EarnBet Decentralized Online Gambling Platform

The adoption of blockchain technology in the online gambling space is at an all-time high as many platforms are exploring ways to leverage the benefits offered by cryptocurrencies’ underlying infrastructure. Few projects have already introduced transparent, user-friendly, and secure solutions. EarnBet is one such project that has been pioneering in this front. The decentralized cryptocurrency gaming platform, formerly known as EOSBet is one of the largest licensed gambling dApps in the world. Let’s Learn a Bit More about EarnBet A creation of Curacao-based Aurora Tech NV, EarnBet is a WAX blockchain-based decentralized gambling platform that has been around since 2018. This licensed operator with a valid Curacao license (GLH-OCCHKTWO711012018) is an early mover in the space, distinguishing itself from others by completely relying on smart contracts and in-house games to offer a 100% transparent, user-friendly gambling experience. The extreme reliance […]
October 25, 2021

Iris Scanning Worldcoin Idea Fuels Objections From Privacy Advocates — Snowden Says ‘Don’t Catalog Eyeballs’

During the last few weeks, a project called Worldcoin has been the subject of numerous headlines and speculation. Worldcoin launched on October 21 and aims to be a universal basic income (UBI) crypto asset that gives free tokens to accounts that are verified with a biometric eye scan. The project has privacy advocates reeling and whistleblower Edward Snowden slammed the project’s creators and said “don’t catalogue eyeballs.” Worldcoin Turns Heads in the Crypto World as It Wants to Scan Your Eyeballs in Exchange for Free Crypto There’s a new cryptocurrency project that is turning heads because of the way it disperses funds to network participants. The project Worldcoin was introduced to the world by Alex Blania and Sam Altman and the team hopes to get one billion people using the crypto asset by the end of 2022. Worldcoin launched on […]
October 25, 2021

‘An Act of War Against the Middle-Class’ — Americans Criticize Janet Yellen’s Idea to Tax ‘Unrealized Capital Gains’

The 78th United States secretary of the treasury Janet Yellen told CNN’s “State of the Union” on Sunday that U.S. lawmakers are considering taxing unrealized capital gains. According to Yellen, the funds collected would help finance things related to climate and social change. While Yellen said that U.S. senator Ron Wyden (D., Ore.) was working on drafting the plan, a great number of Americans have been criticizing the proposal on forums and social media. Janet Yellen Discusses Unrealized Capital Gains Tax Proposal, House Speaker Pelosi Approves The phrase “unrealized capital gains” has been trending on social media and forums during the last 24 hours after the U.S. secretary of the treasury Janet Yellen discussed the subject on CNN’s “State of the Union.” Yellen explained the concept, which aims to tax Americans on unrealized capital gains stemming from liquid assets. Of […]
October 25, 2021

How to Set Up a Bitcoin Miner

By this stage, you will understand how bitcoin works, and what mining means. But we need to get from theory to practice. How can you set up bitcoin mining hardware and start generating some digital cash? The first thing you need to do is decide on what hardware you’re going to use. There are two main things to think about when choosing it: Hashrate: This is the number of calculations your hardware can perform every second as it tries to beat the target hash described in a previous section. Hashrates are measured in megahashes, gigahashes, terahashes, and exahashes per second (MH/sec, GH/sec, TH/sec, and EH/sec). The higher your hashrate (compared to the current average hashrate), the more likely you are to solve a transaction block. The Bitcoin wiki’s mining hardware comparison page is a good place to go for rough […]
October 25, 2021

Bitcoin Pushes Upward After Weekend Dip

Bitcoin was pushing back up Monday after experiencing a price dip below $60,000 over the weekend, down from the all-time high near $67,000 reached last week. As of press time the cryptocurrency was up 4% over the last 24 hours, trading around $62,900. The drop in funding rates is the most notable indicator seen over the weekend, according to Matthew Dibb, chief operating officer at Stack Funds. “This is extremely bullish given where we are,” said Dibb. Funding rates across major exchanges were lower over the weekend, making it cheaper for traders to take more long leverage on bitcoin. Funding rates are payments to long or short traders based on the difference between the perpetual contract market and the current price, according to the crypto exchange Binance. When funding rates drop, it’s generally a sign there’s less demand from traders […]
October 25, 2021

How to use stablecoins to earn a higher APY

Platforms are offering investors several opportunities to earn from stablecoins, some of which extend far beyond cryptocurrency lending.
October 25, 2021

Law Decoded: Post-ETF policy landscape and Novi fears, Oct. 18–25

The Bitcoin ETF approval has been the biggest, but by no means the only, policy-related story of the last week.