June 14, 2021

RNS Solutions & Trustedchain Are Developing Blockchain FinLit Platform for Islamic Development Bank

PRESS RELEASE. Pakistan: RNS Solutions Pte Ltd., the leading blockchain software development company from Pakistan, Korea, and Singapore this week announced a formidable partnership with the ICD-Islamic Development Bank Group, a multilateral development bank that promotes social and economic development in member countries, and Trustedchain software development & consultancy firm in Saudi Arabia. As part of the partnership, the consortium (RNS Solutions & Trustedchain) will be developing a blockchain and AI-based financial literacy (FinLit) platform, which will feature a crowdfunding lab based on blockchain technology. The platform will also include an interactive financial learning management system and financial AI chatbot support systems. In an effort to provide financial education and information to younger generations that are often ill-prepared for the financial demands of the modern world, FinLit will break down complex financial and investment terms, services, and products within the […]
June 14, 2021

Reports of Mining Sector Cleanup Put China’s Yunnan Province in the Spotlight

Authorities in Yunnan are launching an investigation to identify and shut down miners that are illegally using electrical power to mint bitcoin, Chinese media reports. Inspections will also focus on potential safety hazards and will be carried out by various government departments. The mining industry cleanup is expected to continue till the end of June. Media: Yunnan Energy Bureau to Pull the Plug on Bitcoin Farms The province of Yunnan is reportedly joining the crackdown on cryptocurrency mining that’s already underway in other Chinese regions. According to the South China Morning Post (SCMP), local authorities have ordered an investigation into the alleged illegal use of electrical power in bitcoin mining. On Sunday, the publication quoted a June 12 report by the China Securities Journal which is published by the Xinhua news agency. The newspaper revealed that the Yunnan Energy Bureau […]
June 14, 2021

Dutch Official Predicts Crypto Market Crash, Says ‘the Netherlands Must Ban Bitcoin Now’

The director of the Netherlands’ Bureau for Economic Policy Analysis, a part of the country’s Ministry of Economic Affairs and Climate Policy, has predicted “The ultimate collapse of the crypto bubble.” He urges the government to ban bitcoin and other cryptocurrencies immediately. However, the country’s finance minister disagrees that banning cryptocurrency is right for the country. CPB Director Wants Cryptocurrencies Banned Pieter Hasekamp, director of CPB Netherlands Bureau for Economic Policy Analysis (CPB), published an article on the official CPB website Friday titled “The Netherlands must ban bitcoin.” The article was originally written for publication in the daily newspaper Het Financieele Dagblad. The CPB is a part of the Ministry of Economic Affairs and Climate Policy. Its director is appointed by the minister, in consultation with other members of the government. However, the CPB is fully independent as far as […]
June 14, 2021

Bitcoin price moves toward $40K as on-chain and technical analysis favor bulls

Bitcoin price is still 38% away from its all-time high but a handful of technical indicators suggest bulls are gathering strength.
June 14, 2021

Christine Lagarde Reaffirms ECB’s Crypto Policy as Bitcoin Becomes Legal Tender in El Salvador

The president of the European Central Bank (ECB), Christine Lagarde, has shared her view on El Salvador making bitcoin legal tender. She confirmed that the central bank’s policy on bitcoin and other cryptocurrencies has not changed. ECB’s Lagarde Comments on El Salvador Making Bitcoin Legal Tender ECB President Christine Lagarde has shared her view last week on El Salvador’s move to make bitcoin legal tender. The country passed a bill last week making bitcoin legal tender alongside the U.S. dollar. Lagarde first admitted that since she left the International Monetary Fund (IMF), she is “no longer familiar with the situation in El Salvador.” The ECB chief noted, “I know that it is a country that is under the IMF program.” While pointing out that “the issue of having dual tender in a particular economy is a difficult one,” Lagarde confirmed: […]
June 13, 2021

JPMorgan Warns of Incoming Bitcoin Bear Market Citing ‘Unusual Development’ in Futures

Investment bank JPMorgan Chase has warned of a further bitcoin price decline, expecting an incoming bear market. The bank’s analysts look at the trend in bitcoin futures and see “an unusual development and a reflection of how weak bitcoin demand is at the moment from institutional investors.” However, a number of people disagree with this analysis. JPMorgan Warns of Incoming Bear Market JPMorgan Chase analysts, led by Nikolaos Panigirtzoglou, warned of an incoming bitcoin bear market in a note to investors last week. The analysts looked at bitcoin futures which have been trading at a discount to the spot price, known as backwardation. “We believe that the return to backwardation in recent weeks has been a negative signal pointing to a bear market,” they wrote, adding: This is an unusual development and a reflection of how weak bitcoin demand is […]
June 13, 2021

Elon Musk Says Tesla Will Resume Accepting Bitcoin When Miners Confirm 50% Clean Energy Usage

Tesla CEO Elon Musk has announced that when there is “confirmation of reasonable (about 50%) clean energy usage by miners with positive future trend,” his electric car company will start accepting bitcoin for payments again. Elon Musk Reveals When Tesla Will Resume Accepting Bitcoin Tesla CEO Elon Musk talked about when Tesla will resume accepting bitcoin for payments Sunday. He wrote: When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions. Tesla began accepting bitcoin for car payments in March. Musk confirmed at the time that any BTC received will not be converted into fiat currencies. This followed the company’s filing with the U.S. Securities and Exchange Commission (SEC) declaring that it had purchased bitcoin worth $1.5 billion. In April, its bitcoin stash was worth $2.5 billion. However, Tesla […]
June 13, 2021

FBI Halts Bitcoin Ransomware Attack on Colonial Pipeline

Not long ago, agents with the Federal Bureau of Investigation (FBI) managed to intercept bitcoin funds stolen through a ransomware attack on the Colonial Pipeline. The move resulted in a heavy blow to BTC, which experienced another massive dip over the weekend. How the FBI Got in the Way of a BTC Payment The FBI has now emerged with more details regarding the interception. The federal agency states that they were not able to find any security issues with the bitcoin units themselves. Rather, they were able to stop the transaction in its tracks simply because the hackers were utilizing “sloppy storage.” At the time of writing, it is unclear how the FBI was able to engage in such a swift move. The agency does not want to divulge its secrets but has informed the public that approximately $2.3 million […]
June 13, 2021

Silk Road Founder Ross Ulbricht Speaks Publicly for the First Time Since 2013

At the Bitcoin 2021 conference in Miami, attendees listened to the first phone interview with the Silk Road’s Ross Ulbricht from the depths of the maximum-security prison in Tucson, Arizona. During the interview, Ulbricht spoke about bitcoin and how the decentralized crypto asset is “transforming the global economy.” Following the phone call, Ulbricht was placed in the hole according to the official Free Ross Twitter account. Ross Ulbricht Speaks About Bitcoin in His First Interview from Prison Ross Ulbricht’s voice was heard by the attendees who went to the Bitcoin 2021 conference in Miami this year. The recent interview was recorded by Bitcoin Magazine and is the first recorded phone conversation with Ulbricht after his arrest. Ulbricht touched upon the loss of his freedom and noted that from his confinement he’s “spent the last eight years watching Bitcoin grow up […]
June 13, 2021

Top 5 cryptocurrencies to watch this week: BTC, AAVE, KSM, ALGO, TFUEL

AAVE, KSM, ALGO and TFUEL are showing signs of strength while Bitcoin bulls attempt to push BTC price over $38,000.
June 13, 2021

Elon Musks lays out when Tesla will begin accepting Bitcoin payments

Musk responded to a Cointelegraph tweet about Sygnia CEO Magda Wierzycka calling for the SEC to investigate him over alleged Bitcoin price manipulation.
June 13, 2021

Elon Musk Faces Protestors Outside Tesla Factory Due to His Influence Over Crypto

A group of protestors calling themselves “Stopelon” gathered outside the Tesla processing factory in northern California earlier in the week to voice their anger at Elon Musk and his continued antics in the world of cryptocurrency. Elon Musk Faces More Anger Elon Musk has recently been deemed one of the most disliked figures in the digital currency scene. While at one point, the South African entrepreneur proved himself one of the strongest and most influential figures in the space, it seems as of late that he is using his power to do damage to bitcoin and its competing altcoin cousins, and many investors are not too happy about this. Not long ago, Elon Musk announced that he was rescinding his decision to accept bitcoin payments for Tesla-based goods and services. The sentiment was that the mining process behind bitcoin was […]
June 13, 2021

Cuba’s Central Bank Suspends US Dollar Deposits Nationwide – Officials Cite Embargo ‘Obstacles’

The Republic of Cuba is suspending the use of U.S. dollars due to embargo restrictions with U.S. and foreign banks. The central bank of Cuba’s restrictions stems from the “obstacles that the U.S. embargo creates for the national bank system.” Cuba Bans USD Deposits, BCC Tells Tourists to ‘Arrive With a Currency Other Than the Dollar’ Cuba, the island country located where the Caribbean Sea, Gulf of Mexico, and the Atlantic Ocean meet, said this week U.S. dollars will be suspended in the country. The mandate comes from the country’s central bank and foreign tourists have been told to leave U.S. dollars at home when visiting. The announcement was invoked at a roundtable discussion that was aired on state-sponsored Cuban television. “In view of the obstacles that the U.S. embargo creates for the national bank system to deposit abroad the […]
June 13, 2021

US Senator Urges Treasury Secretary to ‘Make Significant Revisions’ to FinCEN’s Crypto Proposal

U.S. Senator Pat Toomey has urged Treasury Secretary Janet Yellen to “make significant revisions” to the proposed crypto regulation by the Financial Crimes Enforcement Network (FinCEN) and the planned adoption of the guidance issued by the Financial Action Task Force (FATF). Senator Asks Janet Yellen to Revise Proposed US Crypto Regulation U.S. Senator Pat Toomey wrote a letter to Treasury Secretary Janet Yellen Thursday regarding the U.S. approach to cryptocurrency regulation. “I write to raise concerns with two proposals involving the Department of the Treasury related to the regulation and oversight of cryptocurrencies,” he began. The first concern relates to FinCEN’s proposed rule for cryptocurrency transactions and the second relates to the FATF guidance on cryptocurrencies and virtual asset service providers (VASPs). The senator described: While I recognize that FinCEN and FATF’s proposals are seeking to address the misuse of […]
June 13, 2021

Coin Metrics Report Details Surges in ETH, Doge Trading

Digital currency research firm Coin Metrics has released a new report claiming that bitcoin is beginning to lag when compared with the likes of competing altcoins such as Ethereum and Dogecoin. Coin Metrics: Altcoins Are Taking Over While bitcoin is still the world’s number one digital currency by market cap (it is currently trading for about $35,000 per unit), the asset has experienced some serious dips over the past month, while by contrast, Dogecoin and Ethereum have exhibited gains and are regularly moving up the digital ladder. Coin Metrics garnered much of the information for its report by looking at data from Binance, arguably the largest and most popular crypto exchange on the planet in terms of daily trading volume. Additional statistics were gathered from exchanges such as Coinbase and FTX. Coin Metrics points out that thus far, 2021 has […]
June 13, 2021

Nugenesis Proposes a Carbon Offset Solution, Through Multi Treasury Bitcoin Systems

How much energy does an industry deserve to consume? Right now, organizations around the world are facing pressure to limit the consumption of non-renewable energy sources and the emission of carbon into the atmosphere. But figuring out how much consumption is too much is a complex question that’s intertwined with debates around our priorities as a society. The calculation of which goods and services are “worth” spending these resources on, after all, is really a question of values. As cryptocurrencies and Bitcoin in particular, have grown in prominence, energy use has become the latest flashpoint in the larger conversation about what, and who digital currencies are really good for. First, there’s an important distinction between how much energy a system consumes and how much carbon it emits. While determining energy consumption is relatively straightforward, you cannot extrapolate the associated carbon […]
June 13, 2021

Canadian Bitcoin ETF adds to its holdings despite steep market correction

The Purpose Bitcoin exchange-traded fund has been reaccumulating BTC since mid-May, a sign that investors are keen to buy the dip.
June 13, 2021

How the NFT market leveraged blockchain tech for explosive growth

Nonfungible tokens present a new way of interacting with the arts, music, sports and the media — and even more.
June 13, 2021

Pensioners Pay Scottish Roofing Company in Cryptocurrency

With bitcoin’s popularity rising, a growing number of businesses in Scotland have been introducing cryptocurrency payments. A roofing company from Glasgow now says more and more of its customers, including pensioners, are willing to pay with crypto. ASAP Roofing Accepts Cryptocurrency for Its Services Kaeleb Mckay, who runs a roofing company with his father, Cameron, has recently told the British press his business is seeing soaring numbers of customers paying in cryptocurrency. The 20-year-old Scot also said he’s been surprised by the people who use cryptocurrency, with his firm’s crypto customer base including even pensioners. ASAP Roofing and Building Ltd started accepting cryptocurrency last year, the Daily record reported, and is now taking several major coins including bitcoin (BTC), bitcoin cash (BCH), ethereum (ETH), dogecoin (DOGE), litecoin (LTC), and XRP, according to its website. The young entrepreneur from Wishaw in […]
June 13, 2021

Crypto is the next step toward a cashless society

It will take some time for consumers to warm up to crypto, but education is the key to its mass adoption.
June 13, 2021

Bitcoin price could hit $85K in months as indicators flip bullish — report

On-chain data suggests that Bitcoin is staging a recovery like in December 2018 and March 2020.
June 13, 2021

Home Title Fraud: How it Happens

Smartphones, smart homes, smart life: our society is getting increasingly smarter. We do this through a combination of technology and data. Data has given us many positive things and has completely changed our lives forever, however there is a big negative – home title fraud. Thanks to the influx of information that is publicly accessible, many identity thieves have used data as a way to ruin and take over innocent lives. Luckily for us we have managed to figure out how they achieve this and how to prevent it. How does it work? The first step in committing home title fraud is to create a forged deed. Identity thieves do this by accessing public data records such as a person’s primary address or contact information. They then surf the internet for signature examples or other information so that they can […]
June 13, 2021

Digital turns physical: Top NFT galleries to visit in-person in 2021

Nine in-person NFT galleries and exhibitions have already opened or are set to open this year, and one could be near you.
June 13, 2021

Jack Dorsey Hints at Lightning Network Integration on Twitter

Jack Dorsey, CEO of Twitter, hinted at the possibility of integrating Lightning Network into Twitter yesterday. Dorsey answered a Tweet of a follower saying it was “just a matter of time” for this to be a fact. Dorsey is a big Bitcoin proponent and has extended Bitcoin functionality to another of his companies, Square. Jack Dorsey Hints at Twitter/Lightning Network Integration Jack Dorsey hinted yesterday at the possibility of integrating Lightning Network into Twitter. Dorsey stated it was “only a matter of time” for this to happen, answering a follower’s tweet. Interestingly, the conversation started around an app called Sphinx. The app uses Lightning Network as a way of relaying messages between a set of users and for payments. Lightning Network is a second layer protocol for payment facilitation in Bitcoin. It was designed in 2016 as a way of […]
June 13, 2021

Bitcoin Mining Council Goes Live, Elon Musk Gets Sidelined

The Bitcoin Mining Council has gone live, launching its own website detailing its members and the mission statement of the organization. The council originated as a closed organization, but they are now allowing any miner to join. While Michael Saylor gets a founding member status, the site states Elon Musk has “no role” in the council. Bitcoin Mining Council Officially Launches The Bitcoin Mining Council, an organization born out of worries regarding Bitcoin’s energy consumption, launched officially yesterday. On the website, the council presents its mission statement. It also explains the plan to tackle the task of addressing bitcoin energy worries. The site states: The mandate of the Bitcoin Mining Council is to promote transparency, share best practices, and educate the public on the benefits of Bitcoin and Bitcoin mining. To achieve this, individual members need to provide accurate energy […]
June 13, 2021

DeFi will bring global revolution to the traditional finance space

DeFi has marked the birth of an open alternative to the current financial system, promising broader financial inclusivity.
June 13, 2021

PlanB Believes $288,000 per BTC Could Still Play Out

According to the recognized investor and cryptocurrency analyst PlanB, a price of $288,000 per Bitcoin (BTC) is still in play. In a recent tweet, he shows that if […]
June 13, 2021

South Africa Working Group Releases New Position Paper Calling for Regulation of Crypto Asset Providers

South Africa’s Intergovernmental Fintech Working Group (IFWG) has a released new position paper that calls for the regulation of the country’s cryptocurrency ecosystem. In the document, the IFWG, which is a creation of the South Africa Reserve Bank (SARB), recommends “a staged approach to bring crypto-assets within the regulatory remit through the regulation of crypto asset service providers (CASPs).” Crypto Service Providers to Adhere to AML/CFT Requirements The 49-page document also “sets out 25 recommendations for a revised South African policy, legal and regulatory position on crypto assets and related activities.” According to the IFWG, some of these recommendations “are already underway and in the process of being implemented while some will take much longer to implement.” Meanwhile, in the position paper, the IFWG’s recommendations are grouped into three overarching categories. Concerning the first one, the working group recommends CASP […]
June 13, 2021

Indian Government May Regulate Crypto as Asset Class: Report

India may be regulating crypto as an asset class under the purview of the Securities and Exchange Board of India (SEBI). In addition, a crypto bill is likely to be introduced during the Monsoon session of parliament, local media reported. Indian Government Reportedly Considers Regulating Crypto as an Asset Class The Indian government has yet to introduce a cryptocurrency bill. An existing bill seeks to ban cryptocurrencies. However, there have been reports of the government re-evaluating the recommendations within the bill. The New Indian Express reported Friday that top sources tracking the crypto industry told it that “the government has moved away from its earlier hostile stance towards virtual currencies and will most likely classify bitcoin as an asset class in India soon.” The publication further conveyed: Market regulator Securities and Exchange Board of India (SEBI) will oversee regulations for […]
June 13, 2021

The Next-Gen Crypto Evolution Has Already Solved ESG Issues Without Compromising Freedom to Innovate!

We’ve already solved it!   We don’t need central authority coercision or elite banks protecting their privilege to solve environmental, social or governance (ESG) issues.  The new generation of crypto technology has already solved the problems being raised in the G7 + Countries, particularly with regard to the ESG standard promoted through the World Bank.  NuGenesis has zero-emission blockchains, including Bitcoin Green.  It has been working with Governments seeking to use blockchain technology perfect government administration and have access to international capital.  These Governments have expected zero-carbon emission, AI-based KYC/AML to ensure legitimate commerce and a blockchain Code providing legal recognition to crypto asset instruments and standards for blockchain projects.   NuGenesis is successfully testing its newest Bitcoin-security based Blockchain releases to prove that: though BitCoin NU ,  (Completed) working with ex-Bitcoin devs, we have proven that with code change alone […]
June 13, 2021

Bitcoinization: JPMorgan Notes ‘Similarly Situated’ Countries Could Make Bitcoin Legal Tender Like El Salvador

JPMorgan struggles to “see any tangible economic benefits associated with adopting bitcoin as a second form of legal tender.” Commenting on El Salvador’s bitcoinization, JPMorgan did not rule out that the country’s move to make the cryptocurrency legal tender may be “the beginning of a broader trend among similarly situated, smaller nations.” JPMorgan’s Opinion on Bitcoinization in El Salvador Investment bank JPMorgan released a report Friday titled “The Bitcoinization of El Salvador.” The country’s congress passed the bill making bitcoin legal tender on Wednesday, becoming the first nation to do so. JPMorgan described: “El Salvador recently passed legislation making bitcoin legal tender, and will attempt to implement a bimonetary system with the U.S. dollar as the primary unit of account but mandating bitcoin be accepted as payment for all economic activity.” The investment bank added that “As with dollarization in […]
June 13, 2021

Investment Management Firm Victory Capital Announces It Enters the Crypto Market

Victory Capital is now entering the cryptocurrency market through the official launch of a new private fund. According to a recent statement released by the investment management firm, […]
June 13, 2021

Here’s how Bitcoin’s impending death cross could be a contrarian buy signal

Bitcoin traders are sitting on their hands after spotting a death cross on the daily chart but could this be a buy signal for contrarian investors?
June 12, 2021

SEC and CFTC Caution Investors About Funds Trading in Bitcoin Futures

The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have warned investors of the risks of investing in funds with exposure to bitcoin futures. The SEC published an investor alert on funds trading in bitcoin futures Thursday. The alert comes from the SEC’s Office of Investor Education and Advocacy (OIEA) and the CFTC’s Office of Customer Education and Outreach (OCEO). They pointed out that some funds may engage in the trading of bitcoin futures contracts as a way to gain exposure to bitcoin, emphasizing that the cryptocurrency “is a highly speculative investment.” The document cautions: Investors should consider the volatility of bitcoin and the bitcoin futures market, as well as the lack of regulation and potential for fraud or manipulation in the underlying bitcoin market. They urge investors thinking about investing in a fund that […]
June 12, 2021

Nvidia CEO: We’re “on the cusp of” a blockchain and NFT-enabled metaverse

Nvidia’s new Voyager campus is serving as a test ground for what it will look like when then Metaverse meets the physical world.
June 12, 2021

Stock-to-Flow Creator Says ‘$288K Still in Play,’ Mike McGlone Sees an ‘Ace up Bitcoin’s Sleeve’

The popular Twitter account and creator of the bitcoin stock-to-flow (S2F) price model explained that “$288K [is] still in play.” Meanwhile, data from the exchange Deribit shows there’s 425 bitcoin call options with a strike price of $200K set for December 31, 2021. Plan B Says: ‘$288K Still in Play’ On June 12, 2021, while bitcoin (BTC) prices have been hovering just above the $35K zone, the popular Twitter account Plan B (@100trillionusd) told his 553,000 followers that six-figure bitcoin prices are still intact. Plan B is a pseudonym and he published the stock-to-flow (S2F) price model in March 2019. He also updated the S2F model to another version called the stock-to-flow cross-asset (S2FX) model. Twelve days ago, Bitcoin.com News reported on how Plan B said his S2FX model was “intact.” Plan B has always shown confidence in his model […]
June 12, 2021

Ethereum’s $1.5B options expiry on June 25 will be a make-or-break moment

Bulls and bears are equally nervous about the possible outcome of the June 25 $1.5 billion Ethereum options expiry.
June 12, 2021

Kevin O’Leary: BTC Will Be Bigger Than Stocks

Kevin O’Leary – aka Mr. Wonderful on the television show “Shark Tank” believes that bitcoin could eventually overpower the stock market. Kevin O’Leary: Sustainability Will Make a Big Difference His sentiment comes from the sudden shift that many bitcoin miners are making. Initially, bitcoin was the subject of much concern and disgust amongst environmentalists, who claimed that the extraction process behind bitcoin was contributing to severe atmospheric destruction. However, O’Leary claims that many miners are listening to these arguments and are now implementing greener ways of mining digital currencies. He says that this will ultimately help propel bitcoin into much more mainstream territory. A newfound “green” attitude amongst miners will work to potentially attract more institutional investors and cause the currency to hit new price peaks that will send it beyond anything the stock market could accomplish. In a recent […]
June 12, 2021

Taproot Lock-in Achieved — Bitcoin Network Set to Activate Biggest Upgrade in Four Years

The ‘Speedy Trial’ lock-in period for the Bitcoin network upgrade Taproot is now complete. Data from taproot.watch details the lock-in has been achieved and it was locked in at block height 687,285 and mined by the mining pool Slushpool. Bitcoin Taproot Lock-in Complete at Block Height 687,285 Taproot is coming this November as the web portal taproot.watch indicates that the lock-in period of signaling has finished. “This period has reached 1815 Taproot signaling blocks, which is required for lock-in.” The Taproot upgrade is considered one of the largest upgrades in four years since the activation of Segregated Witness (Segwit) back in 2017. Poolin executive Alejandro De La Torre tweeted about the milestone after the signaling finished. “Taproot has locked-in,” De La Torre said. “Excellent work miners. Congratulations bitcoiners. Bitcoin protocol upgrade now set to activate in November. When activated in […]
June 12, 2021

New York Crypto Firm Coin Seed Is Ceasing Operations

Crypto trading firm Coin Seed has decided to shut its doors for good following a lawsuit brought forth against it earlier in the year by New York Attorney General Letitia James. The company has been accused of fraudulent activity after moving customer funds without permission and for selling “worthless” tokens in what is alleged to have been a phony initial coin offering (ICO). Coin Seed Is Closing Down for Good In a statement, Del Davaasambuu – the CEO and co-founder of Coin Seed – explained in a recent interview: I am announcing that I am winding down the business due to a lawsuit from the NYAG. The suit against the trading platform was initiated on February 17 of this year. It is alleged that Coin Seed ultimately defrauded several investors out of millions of dollars through the sale of CSD […]
June 12, 2021

A new milestone for Bitcoin, COVID hits conference, Buterin’s DOGE payday: Hodler’s Digest, June 6–12

June 12, 2021

FBI Seizes 800 Beverly Hills Safety Deposit Boxes With $86M, Attorneys Claim Fed’s Raid ‘Unconstitutional’

The Federal Bureau Investigation (FBI) is under fire for an alleged unconstitutional seizure of 800 safety deposit boxes in Beverly Hills. According to reports, the FBI confiscated $86 million in cash, jewelry, and thousands of gold and silver bars. Box holders and their lawyers are calling out the federal law enforcement agency for lacking sufficient proof that the boxes held evidence of being tied to specific crimes. Abuse of Power? Lawyers Believe the FBI Seized People’s Life Savings in an Unconstitutional Manner The FBI has seized over 800 safety deposit boxes that were located in Beverly Hills and held at the U.S. Private Vaults store. Reports note that the FBI got an order from a California magistrate to seize the store’s “business equipment” that ostensibly was tied to a money laundering case. The order barred the searches of the safety […]
June 12, 2021

Large, Luxury Penthouse in Miami Sells for $22 Million in Crypto

One of America’s most luxurious penthouses just sold for more than $22 million – and the deal was completely finalized through cryptocurrency. The home consists of four bedrooms and is located within a condo building known as Arte by Antonio Citterio, which is situated in Miami Beach, Florida and designed by real estate developers Alex Sapir and Giovanni Fasciano. Miami Real Estate and Crypto… A Perfect Match? While crypto-real estate deals have been occurring over the past seven years, they are not common in any way, shape, or form. Typically, in America, all deals close through USD, but both Sapir and Fasciano expressed their excitement over the event and said in a recent interview that they always felt real estate and crypto went hand in hand… It was just a matter of time before people realized that, and as a […]
June 12, 2021

Nexo in Miami: Crypto interest account giant talks DeFi, institutional adoption

Nexo believes that in the long run, regulation will help crypto more than hurt.
June 12, 2021

VORTECS Report: When this indicator lights up, LUNA, MATIC and EGLD usually gain 10%

Compounding modest gains is a key strategy for successful crypto traders — LUNA doesn’t have to go to the moon to help profits rocket.
June 12, 2021

Basel Committee Proposes Differentiating Regulation of Crypto Assets Based on Risks to Banks

The Basel Committee on Banking Supervision has proposed dividing crypto assets into two groups and regulating them based on their market, liquidity, credit, and operational risks to banks. Cryptocurrencies, such as bitcoin, will be subject to “a new conservative prudential treatment.” Crypto Regulation Proposed by Basel Committee on Banking Supervision The Basel Committee has proposed regulating crypto assets based on their risks to banks. The Bank of International Settlement (BIS) published the committee’s public consultation on “preliminary proposals for the prudential treatment of banks’ cryptoasset exposures” Thursday. The BIS explained that banks’ exposures to cryptocurrencies are currently limited. However, it added: Continued growth and innovation in crypto assets and related services, coupled with the heightened interest of some banks, could increase global financial stability concerns and risks to the banking system in the absence of a specified prudential treatment. The […]
June 12, 2021

GME and AMC stock surge may impact crypto meme coins, BTC not so much?

GME and AMC push to greater highs on the back of memes as correlations with crypto begin to emerge.
June 12, 2021

$288K BTC price ‘still in play’ says PlanB as Bloomberg champions Bitcoin halving

Bitcoin would “surprise” the stock-to-flow creator if it fails to return to its forecast trajectory, with three years still to go until crunch time.
June 12, 2021

Texas Announces State-Chartered Banks Can Provide Cryptocurrency Custody Services

The Texas Department of Banking has announced that state-chartered banks can provide cryptocurrency custody services. “The Texas Department of Banking believes that the authority to provide these services with respect to virtual currencies already exists,” the banking authority said. Texas State-Chartered Banks Officially Authorized to Offer Crypto Custody Services The Texas Department of Banking issued a notice to the banking industry Thursday, stating: Texas state-chartered banks may provide customers with virtual currency custody services, so long as the bank has adequate protocols in place to effectively manage the risks and comply with applicable law. “While custody and safekeeping of virtual currencies will necessarily differ from that associated with more traditional assets, the Texas Department of Banking believes that the authority to provide these services with respect to virtual currencies already exists pursuant to Texas Finance Code § 32.001,” the notice […]
June 12, 2021

Forecasting Bitcoin price using quantitative models, Part 4

An intellectual attempt to estimate Bitcoin’s price, corrected according to the hash rate metric.
June 12, 2021

Bitcoin Taproot upgrade finally locked-in, activation set for November

With Taproot achieving the 90% critical consensus mark among mining nodes, all is now set for Bitcoin soft fork activation later in November.
June 12, 2021

Adopting the Bitcoin standard? El Salvador writes itself into history books

El Salvador has become the first country to make Bitcoin legal tender, but what are the complexities and potential short-term effects?
June 12, 2021

Thailand Bans Meme Coins, Fan Tokens, NFTs From Trading on Crypto Exchanges

The Thai Securities and Exchange Commission (SEC) has enacted new rules for cryptocurrency exchanges operating in the country. Certain types of cryptocurrencies, including meme coins, fan coins, and non-fungible tokens (NFTs), are prohibited to trade on crypto exchanges. Thailand Sets New Rules for Crypto Exchanges, Banning Certain Types of Cryptocurrencies The Thai Securities and Exchange Commission (SEC) announced Friday that its board of directors has approved new rules governing cryptocurrency exchanges. Secretary-General Ruenvadee Suwanmongkol stated that the board meeting held on June 9 had passed a resolution approving the SEC Notification No. Kor Thor. 18/2564, which sets forth the rules. Digital asset exchanges are prohibited from “providing services related to utility tokens or cryptocurrencies that have any of the following characteristics,” the SEC notice details: (1) Meme token: having no clear objective or substance or underlying, and whose price running […]
June 12, 2021

Is there a right way to regulate crypto? Yes, and this is how

Cryptocurrency is a promising asset class for people and investors, but the lack of proper regulation slows down its innovation.
June 12, 2021

India Probes Cryptocurrency Exchange Wazirx in Chinese Money Laundering Case

India’s Directorate of Enforcement (ED) has reportedly sent a notice to Wazirx, one of the largest cryptocurrency exchanges in India, under the Foreign Exchange Management Act, 1999, (FEMA). The investigation was initiated “on the basis of the ongoing money-laundering investigation into Chinese owned illegal online betting applications,” the ED detailed. ED’s FEMA Investigation of Wazirx India’s Directorate of Enforcement (ED) reportedly said Friday that it has issued a Show Cause Notice (SCN) to Wazirx, CEO Nischal Shetty, and co-founder Sameer Hanuman Mhatre. Wazirx is one of the largest crypto exchanges in the country. The ED is India’s law enforcement and economic intelligence agency. The notice was issued under the “Foreign Exchange Management Act, 1999, (FEMA) for transactions involving crypto-currencies worth Rs 2,790.74 crore [$381.93 million],” the ED wrote, adding: ED initiated FEMA investigation on the basis of the ongoing money […]
June 12, 2021

Kraken Weighs in on IPO After Coinbase’s Lackluster Direct Listing Performance

Kraken, the US-based exchange, is weighing in on whether to use an IPO or a direct listing to go public. Kraken’s CEO Jesse Powell stated that after Coinbase’s performance, they were considering other options for going public next year. The company will be the second crypto exchange to go public in the US if things happen as projected. Kraken Considers IPO vs Direct Listing for Going Public Kraken, one of the leading US-based crypto exchanges, is having doubts about how to go public. Its CEO, Jesse Powell, had indicated earlier this year they would use the direct listing approach to launch next year. This stance mimics the direction Coinbase took. But now he is not so sure about that, due to the lackluster performance Coinbase has had up until now. Powell declared in an interview with Fortune: An IPO is […]
June 12, 2021

Pronouncements from the G-7 allow green fintech to flourish

Sustainability and the need to lessen climate change amid the COVID-19 pandemic have become the global economic agenda.
June 12, 2021

FunFair adds support for Binance Smart Chain into its gaming wallet solution

FunFair Technologies, a gaming platform powered by blockchain, has announced that it now offers support for Binance Smart Chain (BSC) within its FunFair Wallet solution. Going forward, any developer building a dApp in the Binance ecosystem; can implement FunFair’s gaming-oriented integrated wallet. “FunFair fundamentally believes in a truly decentralised approach to blockchain. But in the short to medium term, Binance serves a beneficial function. Thanks to its origin as an Ethereum clone, it’s a relatively low learning process for current developers to build on if familiar with Ethereum. Further, DApp developers can develop and get their products out to market without being cost-prohibitive. And while we will continue to build support into our wallet for other blockchains such as xDai or L2 solutions like optimism; we want to give DApp developers the best chance to succeed. And that ultimately means […]
June 12, 2021

Report: Filecoin and Chia Believers in China Are Converting to Ethereum Swarm Disciples

There’s a lot of buzz in China around the Bee mainnet soft launch following the recent hype surrounding Filecoin and Chia. Reports detail that Swarm is set to kickstart the mainnet on June 13, and droves of miners from China are getting prepared to obtain rewards from the distributed storage platform and content distribution service. Swarm Preps to Launch Mainnet and Native Token BZZ This Sunday, the anticipated Bee mainnet launch is supposed to happen according to a blog post published by the Swarm Foundation. The Swarm project details can be found on ethswarm.org which details that Swarm is a distributed storage platform and content distribution service that leverages an ethereum web3 stack. Here is a detailed video showing our friends in #China how to install a Bee node. Install your Bee node, become a part of the network and […]
June 12, 2021

Elrond network integrated into Mopheus Labs’ blockchain development platform

Morpheus Labs, a Blockchain-Platform-As-A-Service (BPaaS) provider, has announced the integration of the Elrond blockchain into Morpheus Labs’ Solution Environment for Enterprise Development (SEED). Now, Elrond application developers can decrease their time to market. Morpheus Labs SEED Morpheus Labs + Elrond “Our protocol and tools have been designed to enable any developer to integrate our blockchain tech into their app stack and supercharge their products with the Elrond high speed and inexpensive decentralized capabilities. The integration with Morpheus Labs can streamline efforts and accelerate time to market in many scenarios; which is important for the proliferation of Elrond tech.”– Beniamin Mincu, Elrond Network CEO Making SEED compatible with Elrond offers developers access to collaborative development environments, deployment of pre-built environments; and all of the additional features of the platform. Furthermore, training providers can now use SEED to teach practical Elrond-based solution-building […]
June 12, 2021

BSV-based DotWallet launches substantial upgrades for ‘Pro’ version users

DotWallet, a lightweight BSV-based crypto wallet, has announced the launch of a substantial upgrade. Version 2.5 of DotWallet now includes an enriched dApp ecosystem; while adding and improving features. Notably, in-app crypto swaps are now available for DotWallet Pro users. Moreover, the DotWallet team has improved security by optimizing the risk control module for wallet accounts and assets. Upgrade Highlights for DotWallet v2.5 Swaps Now Available on the Pro Version Since its release in the DotWallet web app, DotWallet Pro users have been keenly awaiting the Swap feature. Now in this latest update, DotWallet Pro users can enjoy multi-chain asset swaps. Powered by the third-party exchange Changelly, Swap enables users to effortlessly convert between popular cryptocurrencies: BTC, ETH, and BSV. Account Management Upgrade The DotWallet team made improvements like syncing the account “security and payment” module of the Pro app […]
June 12, 2021

Speedy Trial Success — Bitcoin Upgrade Taproot Set to Lock-in This Weekend

On Friday, June 11, 2021, data shows that Taproot could get locked-in this coming weekend, as the signal ratio is 98.3% and a touch more than 100 additional signaling blocks are needed to lock in the upcoming soft fork. Bitcoin Upgrade Taproot Inches Toward Lock-in, Success Means Activation in November Participants involved with the Bitcoin (BTC) network are preparing to see a softfork in November if the signaling status of “Speedy trial support for versionbits #21377” gets locked in this weekend. According to the Github “Taproot-Activation” documentation, the Bitcoin Taproot upgrade involves an “upgrade that can be deployed as a forward-compatible soft fork.” The upgrade also combines the “Schnorr signature scheme with MAST (Merklized Alternative Script Tree) and a new scripting language called Tapscript, Taproot will expand Bitcoin’s smart contract flexibility, while offering more privacy by letting users mask complex […]
June 12, 2021

The CBN Says Nigeria Will Have a Digital Currency Before End of Year

Nigeria is likely to have its own central bank digital currency (CBDC) by the end of the year, an official with the Central Bank of Nigeria (CBN) has said. In his remarks following the bankers’ committee meeting, Rakiya Mohammed, who is the director of information technology at CBN, also revealed that this “digital currency would be accessible to all Nigerians.” Stakeholder Involvement However, according to a report which quotes the IT director, the CBN’s digital currency will be unlike privately issued cryptocurrencies such as bitcoin, which a Nigerian senator has previously blamed for making the naira currency “almost useless.” Emphasizing the importance of this digital currency initiative, Mohammed said: We have spent over two years studying this concept of the central bank digital currency and we have identified the risks. And it is one of the reasons why I said […]
June 12, 2021

Banks in Texas Can Custody Cryptocurrencies

Texas banks with a national charter are now able to custody cryptocurrencies. According to the Texas Department of Banking, banks are allowed to store digital assets for clients. […]
June 12, 2021

An NFT of the photo that inspired Dogecoin just sold for $4M

That picture of a dog staring into the camera in formal posture.. you know, the one that sparked the Doge meme? Someone just sold it for millions in Ether.
June 11, 2021

Solana (SOL) and Enzyme (MLN) rally while the wider market remains flat

A rapidly growing ecosystem and recent Coinbase listings helped SOL and MLN bounce back from recent lows while the wider market trades sideways.
June 11, 2021

Bank of Namibia Warns Crypto Traders It ‘Will Not Entertain Complaints’ if They Get Scammed

The Bank of Namibia (BON) has warned individuals investing in cryptocurrencies that it will not entertain their complaints should they get scammed. The institution argues that since its mandate does not currently cover digital currencies, it lacks the “legal power” to follow up on such complaints. Growing Namibian Interest in Crypto This latest BON warning about risks associated with cryptocurrency trading comes as Namibia is seeing increased reports of crypto investors losing money to scammers. As noted in one report, the scammers are using the promise of high returns as well as training opportunities to lure their victims. In the meantime, in his response to an inquiry from a local media outlet, the central bank’s spokesperson, Kazembire Zemburuka, asserts that as Namibia’s sole issuer of legal tender, the BON “does not recognise, support and recommend the possession, utilisation and trading […]
June 11, 2021

Basketball star turned digital racehorse tycoon: Wilson Chandler on NFTs and the NBA

A journey that started with trading shitcoins has now become a growing passion for NFTs — part of a wider wave of NBA players and cultural tastemakers taking over the blockchain space.
June 11, 2021

Mastering the Modern Energy Market

Fossil fuels can’t rule the day forever. As our Earth continues to get warmer and climate change is of central importance to many, we need to continued to look for better and better ways to manage our energy needs. By the year 2025, the global renewable energy market is expected to reach $1.5 trillion. The modern energy market is fairly complex, as it offers seemingly a larger amount of choices, however all of these choices aren’t sustainable. One of the first stops your mind takes you in the renewable modern energy space is solar – however, this might not be all that it is cracked up to be. Batteries are promising, but again, they are not created equal. Many are in the lithium ion space – they are not efficient, and can be unsafe in their production / water supply. […]