Daily digest for Crypto Breaking News, on October 1, 2021

Crypto Breaking News posted: "Dogecoin (DOGE) co-founder Billy Markus has set his sights on nonfungible tokens (NFTs) and an Ethereum-to-Dogecoin bridge to help bring about for mass adoption of the meme coin. In a Sept. 30 tweet, Markus emphasized the importance of completing the Ethe" New post on Crypto Breaking News DOGE co-founder sets sights on Ethereum bridge and NFTs for mass adoption by Crypto Breaking News Dogecoin (DOGE) co-founder Billy Markus has set his sights on nonfungible tokens (NFTs) and an Ethereum-to-Dogecoin bridge to help bring about for mass adoption of the meme coin. In a Sept. 30 tweet, Markus emphasized the importance of completing the Ethereum-Dogecoin bridge so that the asset could be integrated with top Ethereum-based NFT platforms such as OpenSea, enabling non fungible purchases with DOGE. Markus said that there is "high demand" to purchase NFTs within the crypto community and that enabling NFT purchases with DOGE "greatly increases its utility." DOGE being implemented into the NFT ecosystem would be a huge benefit to the community! — Mr. Whale (@CryptoWhale) September 29, 2021 The in development DOGE-ETH bridge would enable users to send DOGE from the Dogecoin blockchain to the Ethereum blockchain, and transact with the asset in sectors such as decentralized finance (DeFi) and NFTs via ERC-20 DOGE token contracts. The bridge would provide extra utility for DOGE, as it could provide a fun alternative to Ether which dominates NFT payments, while also ramping up transaction levels and usage via circulation in various DeFi protocols on Ethereum. In an interview with podcaster Lex Fridman on June 4, Ethereum co-founder and DOGE investor Vitalik Buterin also emphasized the bullish potential that an Ethereum-bridge could have for DOGE, noting that: "If DOGE wants to somehow bridge to Ethereum, and then people can trade DOGE thousands of times a second inside a loop ring, then that would be amazing." In Markus's Twitter thread, he was asked if the bridge is in the works, and responded that "people are working on the DOGE-ETH bridge, yes," without naming names. Organizations such as DogeLabs — a collaboration of developers focused on the Dogecoin chain — announced on June 18 that it was exploring the idea of building a Doge-ETH bridge that would enable hodlers to use the asset in Ethereum-based DeFi staking. DogeLabs also stated that it was looking to the development of a DOGE burn wallet where developers can build "applications that send a small portion of Doge to a public burn wallet to assist in building a deflationary mode around DOGE inflationary growth." Markus stepped away from working on Dogecoin in 2015 — selling his stash for the equivalent of a used Honda Civic — however the co-founder is a member of the advisory board of the Dogecoin foundation that was re-established in August. Buterin is also a member of the advisory board. Related: Crypto is impossible to destroy, says Tesla CEO Elon Musk The non-profit foundation supports and advocates for the development of Dogecoin, while also protecting its trademark from the likes of copycats such as Dogecoin 2.0. Cointelegraph reported on Sept. 2 that the Dogecoin Foundation demanded the "Dogecoin 2.0" project change its name and had hired brand protection lawyers to contact the knockoff's developers in a bid to "protect the Dogecoin community from being misled and to protect the Dogecoin name from possible misuse." Source: Cointelegraph.com Crypto Breaking News | October 1, 2021 at 2:57 am | Categories: News | URL: https://wp.me/papzAO-pWr Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/doge-co-founder-sets-sights-on-ethereum-bridge-and-nfts-for-mass-adoption/

Crypto Breaking News posted: "This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry's most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations.  Well, it " New post on Crypto Breaking News Shanghai Man: Looking deeper into China's biggest ban yet by Crypto Breaking News This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry's most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations.   Well, it finally happened. The regulation-driven crypto-apocalypse in China. They started by clamping down on miners earlier this summer before finally tightening the screws on exchanges. This week, the final nail in the coffin came with even more rules from the PBoC that resulted in many platforms announcing they could no longer accept Chinese users.  Banned yet again The new rules handed down by the People's Bank of China made things incredibly clear for businesses from a legal standpoint. One of the main points was that cryptocurrency-related business activities are illegal, a ruling that cast doubt over the long list of projects, exchanges, and financial service providers in the country. Many projects responded instantly by eliminating WeChat communities and even internal messaging groups on domestic networks, preferring to operate through VPNs and more privacy-focused chat apps. Leading exchange Huobi, which sits third on the global leaderboard for volume, announced they would be permanently closing down Chinese user accounts at the end of the year.  Chinese users on Huobi must make a decision before accounts close on December 31. If true, this would be a massive blow to the exchange that has long-serviced the Chinese community with a high standard of service that includes deep liquidity, a wide range of assets, and few security blemishes to speak of. Experienced Chinese investors might still be skeptical that Huobi would make such a drastic change, as announcements and policies can change very quickly in the Chinese world of crackdowns and political posturing.  Trouble for overseas players Perhaps the most alarming point of the PBoC announcement was that overseas cryptocurrency exchanges providing services to Chinese residents are also deemed to be illegal financial activities. Additionally, it stated that there are legal risks to participating in cryptocurrency investment transactions. This sparked some fear among employees of crypto companies who suddenly worried they might be the next target of crackdowns by law enforcement.  Binance was quick to point out that the domain Binance.com has been blocked in China since 2017, excluding it from the regulatory discussion. It also announced it would no longer accept new registrations from Chinese users, but said nothing about existing accounts. BitMart, another exchange with ties to China, also announced that on November 30, it would be closing accounts from users in the Chinese mainland. Biki, an even smaller exchange, announced it would be winding up exchange operations altogether. Many people are asking, China has banned Bitcoin 19 times, what's the difference this time? 😂 Fine, this lawyer explained in detail the 5 differences. Google Translate is required to read. https://t.co/WEMq99QCU1 — Wu Blockchain (@WuBlockchain) September 30, 2021 For smaller exchanges, the risks of operating are quite high, especially as many have diversified business models that include investment, mining, or other financial services. Smaller CeFi exchanges in this space may also be feeling increasingly crowded out by the rapid growth of top CeFi platforms, as well as the widespread adoption of decentralized exchanges. Closing doors on the exchanges may not mean exiting the industry altogether, but simply abandoning a high-risk and underperforming business line.  So what is left for Chinese traders? Individual users are still in a gray area as the announcement didn't strictly say that the possession of cryptocurrencies was illegal. This seems unlikely as the general trend is to try to protect the citizens by targeting the businesses, a move we've seen in a number of different industry verticals this year, including education and entertainment.  Another area that isn't clear is Chinese users who live abroad. In addition to the large population of overseas Chinese citizens, many are still able to fake their location using VPNs. Assuming that these users are still able to get past IP bans, it could leave a possible route for more technically savvy holders to continue trading on CeFi platforms. Exchanges without any operations in China might see this as an opportunity, as regulators would have very little recourse against them. At this stage, it seems like China's regulators might be successful in discouraging much of the smaller retail cryptocurrency activity. However, the large players are already overseas or finding ways to get around these new barriers. If they've been in the space awhile, they are more than familiar with the ebbs and flows of regulations.  No answer for decentralization The biggest benefactor in the short term may be DeFi protocols. The one-two punch of China cracking down and liquidity rewards on DYDX caused a massive spike in adoption for the StarkWare-based derivatives platform. According to data on Similarweb, China was the top region to access the site, with over 10% of the market share. Users with VPNs from China likely accounted for even more. It's still not clear if this will be a long-term solution, or if the massive increase is more speculative in search of earning the DYDX token as a reward. China and Hong Kong lead the way for DYDX website visitors. Source: Similarweb Toeing the party line Seeing an opportunity to display their best behavior, eCommerce platform Alibaba announced the platform could no longer be used for the sale of cryptocurrency mining machines. This stance is not surprising, considering the scrutiny the company is already under by financial regulators. The organization is being restructured after their p2p lending models sparked a high-profile row between founder Jack Ma and financial oversight bodies. Source: Cointelegraph.com Crypto Breaking News | October 1, 2021 at 2:46 am | Categories: News | URL: https://wp.me/papzAO-pWt Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/shanghai-man-looking-deeper-into-chinas-biggest-ban-yet/

Crypto Breaking News posted: "The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, explains that some laws provide "significant investor protections" for exchange-traded funds (ETFs), including those seeking to invest in bitcoin futures. He lo" New post on Crypto Breaking News SEC Chairman Gary Gensler Looks Forward to Review of Bitcoin Futures ETF Filings by Crypto Breaking News The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, explains that some laws provide "significant investor protections" for exchange-traded funds (ETFs), including those seeking to invest in bitcoin futures. He looks forward to seeing the SEC's review of such filings. SEC Chairman Looks Forward to Staff's Review of Bitcoin Futures ETF Filings SEC Chairman Gary Gensler talked about crypto regulation and bitcoin exchange-traded funds (ETFs) at the Financial Times' Future of Asset Management North America conference Wednesday. In prepared remarks, he discussed "investment vehicles providing exposure to crypto assets," noting that "Earlier this year, a number of open-end mutual funds launched that invested in Chicago Mercantile Exchange (CME)-traded bitcoin futures." Gensler added, "Subsequently, we've started to see filings under the Investment Company Act ['40 Act] with regard to exchange-traded funds (ETFs) seeking to invest in CME-traded bitcoin futures," elaborating: When combined with the other federal securities laws, the '40 Act provides significant investor protections for mutual funds and ETFs. I look forward to staff's review of such filings. In August, Gensler similarly said he looked forward to the staff's review of ETF filings, "particularly if those are limited to these CME-traded bitcoin futures." He also emphasized at the conference on wednesday the need for investor protection. "This crypto space is now certainly of a size that without those investor protections of banking, insurance, securities laws, [and] market oversight, I do think somebody is going to get hurt. A lot of people are likely to get hurt," Gensler was quoted by the Financial Times as saying. The chairman has been urging crypto companies to come in and discuss whether they need to register with the SEC. Without naming specific platforms, he said, some companies have "said things publicly about some of those conversations." Recently, Coinbase took to Twitter to talk about its lending product that the SEC threatened to sue over if it is launched. CEO Brian Armstrong called the securities watchdog's behavior "sketchy." The Nasdaq-listed company subsequently abandoned its plan to launch the product. Gensler said Wednesday: There are going to be times that people come in and we say: 'Register.' It's not going to be everybody comes in and says: 'Can you please tell us we are not a security.' Do you think the SEC will approve a bitcoin ETF or bitcoin futures ETF this year? Let us know in the comments section below. Source: Bitcoin.com Crypto Breaking News | October 1, 2021 at 1:30 am | Categories: News | URL: https://wp.me/papzAO-pWp Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/sec-chairman-gary-gensler-looks-forward-to-review-of-bitcoin-futures-etf-filings/

Crypto Breaking News posted: "Luxury fashion has arrived in the metaverse, and there's already a new, super-connected, digital fashion DAO—called Red DAO—dominating the space. Italian fashion brand Dolce & Gabbana completed its first-ever NFT collectibles auction today via the UNX" New post on Crypto Breaking News New Digital Fashion DAO Rules Dolce & Gabbana's $5.7M NFT Sale by Crypto Breaking News Luxury fashion has arrived in the metaverse, and there's already a new, super-connected, digital fashion DAO—called Red DAO—dominating the space. Italian fashion brand Dolce & Gabbana completed its first-ever NFT collectibles auction today via the UNXD marketplace, called Collezione Genesi, and the offering pulled in more than 1,885 ETH—nearly $5.7 million worth, as of this writing. Dolce & Gabbana's first NFT collection wasn't entirely digital: some items afforded the high bidder a physical piece of apparel or jewelry alongside the digital version. An NFT is effectively a receipt for a rare digital item, as verified by a blockchain platform, in this case Ethereum. A DAO is born The top-dollar sale and two others went to Red DAO, a new decentralized autonomous organization (DAO) focused on amassing valuable digital apparel. The recently launched collective is an offshoot of Flamingo DAO, a highly capitalized DAO that is one of the major investors in NFT collectibles. Red itself already has some $7.5 million in its treasury, based on wallet data listed on its website. "Digital fashion on the blockchain is a massive emerging opportunity in the ecosystem," Megan Kaspar, who is a member of Red DAO as well as managing director of crypto investment firm Magnetic, told Decrypt. "Flamingo's deep insight brought about the incubation of Red DAO, which focuses on fashion NFTs." Megan Kaspar, member of Red DAO Kaspar confirmed that the collective won the auction for The Doge Crown, a jeweled crown with a physical version included in the purchase, for 423.5 ETH, or $1.27 million. Additionally, the DAO won auctions for two purely digital "impossible" jackets, bringing its total spending to nearly $1.9 million for this fashion drop. Kaspar described the three items as the DAO's "inaugural investments." The NFT items include a digital recreation of the apparel in a metaverse game world of the buyer's choosing, redeemable within two years of purchase. Red DAO's investment suggests potentially significant interest in acquiring digital luxury fashion, which could prove to be valuable status symbols as the online metaverse takes shape in the coming years. UNXD and @DolceGabbana are proud to announce that The Doge Crown from the Collezione Genesi NFT collection sold for 423.5 ETH, or $1.275 million. In total, the collection sold for 1,885.719 ETH, or $5.65 million. Historic. Much more to come. https://t.co/anWLJ309Qs pic.twitter.com/gZ8CA0Wtym — UNXD (@UNXD_NFT) September 30, 2021 Digital fashion comes to the metaverse "Metaverse wearable digital fashion NFTs ushers [in] an entirely new use case for NFTs, some of which are tied to physical items," Kaspar said. "This vertical will be one of the largest categories in Web 3.0. Items can be worn live in the metaverse, displayed publicly and globally with instant ownership verification. Fashion is a part of a person's physical identity, and naturally a part of their digital identity." According to its website, joining Red DAO requires an initial investment of at least 50 ETH, or just over $150,000 worth as of this writing, to purchase 100,000 DAO units. The organization will allow up to 40 initial members, and its website lists the wallet addresses and investments of 33 current members. Elsewhere in the auction, another high-dollar physical/digital item was The Glass Suit, a men's suit described as a "spectacular piece of wearable, sculptural art, which sold for 351 ETH ($1.047 million). DAOs 'Can't Operate in the Wild West Forever', Says FWB Co-Founder The Glass Suit was won by Boson Protocol, a blockchain protocol focused on decentralized infrastructure. Boson Protocol will feature the NFT as part of its Boson Portal "metaverse commerce experience" that will launch in the Ethereum-based Decentraland game. Noted NFT collector Pranksy was also a big winner in the offering, winning three of the auctions including an impossible crown and jacket. Each Dolce & Gabbana NFT sold comes with real-world experiential perks, as well, such as access to fashion shows and a tour of the brand's headquarters in Milan, Italy. Source: Decrypt.co Crypto Breaking News | October 1, 2021 at 1:19 am | Categories: News | URL: https://wp.me/papzAO-pWn Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/new-digital-fashion-dao-rules-dolce-gabbanas-5-7m-nft-sale/

Crypto Breaking News posted: "The release of smart contracts capability on Cardano has brought with it some interesting projects. Cardano had revealed multiple partnerships over the course of its two-day Cardano Summit. These projects aimed at increasing utilizing the capability of th" New post on Crypto Breaking News Charles Hoskinson To Launch Three-Time Grammy Nominee Paul Oakenfold's Album On Cardano by Crypto Breaking News The release of smart contracts capability on Cardano has brought with it some interesting projects. Cardano had revealed multiple partnerships over the course of its two-day Cardano Summit. These projects aimed at increasing utilizing the capability of the blockchain to its fullest potential. But before smart contracts had debuted on the platform, non-fungible tokens (NFTs) had been supported. Cardano network has seen thousands of NFTs being minted. This had been actively encouraged by the developers in order to entice the community into using the blockchain as its default for minting NFTs as opposed to well-established networks like Ethereum and Solana. The latest iteration of the network promoting NFTs on the network has come in the form of founder Charles Hoskinson releasing dance artiste Paul Oakenfold's album as an NFT on Cardano. Hoskinson Teams Up With Paul Oakenfold Celebrities have taken to NFTs like fish to water. From athletes to musicians, NFTs have presented as a new way for public figures to stay connected with their fan base, while also monetizing their image. Now, founder Charles Hoskinson is taking it one step further as he partners with Paul Oakenfiled to release the DJ's album as an NFT on Cardano. One of @ethereum's original co-founders, @IOHK_Charles, is working on a collaborative album with dance music legend @pauloakenfold.https://t.co/WUgw3AV2XF — EDM.com (@TheEDMNetwork) September 29, 2021 Related Reading | Cardano Summit Sees Launch Of Exciting New Partnerships The announcement was made at the just-concluded Cardano Summit and will cover everything from Oakenfield's album, down to its cover art and notes. The dance and trance DJ who is of British descent has been nominated for three Grammy Awards over the course of his career and is regarded as a legend in the EDM scene. Hoskinson has been working closely with the artiste to bring the project to life on the blockchain. The founder believes that blockchain technology is important for the future of the music industry and is interested in how this will work. "Getting to learn about the electronic music industry and how the blockchain can support it has been a revelation," Hoskinson said. Bringing Music To Cardano Oakenfield's album will not be the first, nor the last, to bring music to the blockchain as NFTs. For Cardano alone, multiple music and music-related acts have brought their talent to the world through the network. Related Reading | EMURGO To Invest $100 Million In Cardano To Bolster DeFi Adoption Most notable of these had been the launch of ZZ Top frontman Bill Gibbons' music NFT collection on the blockchain. Auction for Gibbons' collection had run in the same time frame as the Cardano Summit, and it included 30-second original jam sessions digital music by Billy Gibbons and one Golden Ticket which conferred a 20-minute one-on-one session with the artiste. Earlier this month, the blockchain had seen the launch of the first-ever music label to be launched on the blockchain. $GREED is a crypto music label that was launched on the ecosystem as a smart contract. ADA price trading at $2.097 | Source: ADAUSD on TradingView.com Featured image from IOL, chart from TradingView.com Source: NewsBTC.com Crypto Breaking News | October 1, 2021 at 12:00 am | Categories: Cardano, News | URL: https://wp.me/papzAO-pWm Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/charles-hoskinson-to-launch-three-time-grammy-nominee-paul-oakenfolds-album-on-cardano/

Crypto Breaking News posted: "Last week China's heavy-handed crackdown on crypto trading crypto briefly sent shockwaves across the market as Bitcoin and altcoin prices saw a sharp drop following the announcement, but as is the case with all things crypto-related, the market bounced ba" New post on Crypto Breaking News DeFi and DEX volumes soar amid China's crypto ban and ongoing US regulation by Crypto Breaking News Last week China's heavy-handed crackdown on crypto trading crypto briefly sent shockwaves across the market as Bitcoin and altcoin prices saw a sharp drop following the announcement, but as is the case with all things crypto-related, the market bounced back as resilient traders found other ways to participate in the market.  Part of China's goal in limiting citizens ability to trade cryptocurrency seems focused on discouraging the use of cryptocurrencies and the growing decentralized finance (DeFi) ecosystem but these maneuvers appear to be having the opposite effect as the token price and protocol activity for projects like Uniswap (UNI) and dYdX have seen an uptick since the crackdown began. According to data from Chainalysis, there has been a significant amount of regional Bitcoin (BTC) flows happening within eastern Asia, as highlighted by the tall orange bar in the graph below. This suggests that crypto holders in the region have been shifting around their holdings in response to the regulatory crackdown. Regional BTC flows. Source: Chainalysis As stated by Chainalysis, "assets typically flow within a region, likely due to preferences for local exchanges, but flows between regions often occur as a result of regulatory concerns, geopolitical changes, or significant market price variations." The lack of flows out of Eastern Asia combined with crypto exchanges like Huobi and Binance suspending services for Chinese residents suggests that funds are being kept within the region, but not on centralized exchanges. It seems Huobi users moved $ETH, #stablecoins, and DEX tokens to decentralized exchanges like Uniswap. Outflow transactions spiked after Huobi announced the suspension of existing accounts in mainland China. Ironically, regulation led to decentralization this time. pic.twitter.com/EKpkHIdSv0 — Ki Young Ju 주기영 (@ki_young_ju) September 29, 2021 Related: Derivatives DEX dYdX beats out Coinbase's spot markets by volume amid China FUD Gains in the DeFi Ecosystem At the same time that this increased movement within the Eastern Asian region was occurring, activity on decentralized exchanges like Uniswap and the decentralized derivatives exchange dYdX has been on the rise as traders in China seek out a safe haven for their crypto activities. Uniswap trading volume vs. total revenue. Source: Token Terminal DydX is a particularly helpful data point as it is now the most widely used decentralized derivatives exchange and has seen a spike in demand after regulators from around the world dropped the hammer on centralized exchanges with loose KYC policies that offer derivative services. According to data from Token Terminal, dYdX is in the top-5 ranking for numerous categories over the past week, including the increase in token price, total protocol revenue, fees paid, the price to sales ratio and the price to earnings ratio. The exchange also rose to the top 6 in terms of increases in total value locked (TVL). Total revenue vs. total value locked on dYdX. Source: Token Terminal A closer look at the available data also shows that layer-two protocols and layer-one Ethereum (ETH) competitors have also seen some of the biggest gains over the past week, led by Avalanche-based protocols like Trader Joe and Pangolin, as well as the Fantom network. Above all else, what the recent data shows is that the decentralized finance ecosystem is performing as it was originally intended to by providing an uncensorable way for crypto holders to transact outside of the control and purview of governments and financial regulators. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. Source: Cointelegraph.com Crypto Breaking News | October 1, 2021 at 12:00 am | Categories: News | URL: https://wp.me/papzAO-pWi Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/defi-and-dex-volumes-soar-amid-chinas-crypto-ban-and-ongoing-us-regulation/

Crypto Breaking News posted: "On Thursday, the red-hot Terra blockchain, which has a mission to improve the efficiency of the global payment system, completed its Columbus-5 upgrade.  The upgrade has major ramifications for the Terra ecosystem, its stablecoin TerraUSD (UST), and Terra" New post on Crypto Breaking News What Terra's Columbus-5 Upgrade Means for LUNA by Crypto Breaking News On Thursday, the red-hot Terra blockchain, which has a mission to improve the efficiency of the global payment system, completed its Columbus-5 upgrade.  The upgrade has major ramifications for the Terra ecosystem, its stablecoin TerraUSD (UST), and Terra's utility token LUNA, which has surged more than 10,000% this year to become the No. 11 cryptocurrency by market cap. Columbus-5 may stimulate demand for Terra and UST by opening it up to new networks and decentralized projects. The deflationary aspect of LUNA should also pump the price, if all goes according to plan. Terra doesn't use just one asset. It uses two. And what's good for UST is good for LUNA, just for different reasons. That's because UST is an algorithmic stablecoin, meaning it leverages a second token, LUNA, to maintain nearly equal value to the U.S. dollar. LUNA, as Terra's utility token, is minted when demand for UST is low and burned when demand for UST rises. Terra's First NFT Project is a Space-themed Loot Derivative The Columbus-5 upgrade comprises several major technological changes to Terra. The flashiest change is that Terra's utility token, LUNA, which is burned to mint Terra's UST stablecoin, is no longer being transferred to a community pool after burning. All LUNA used to mint UST will now be burned permanently, and the existing community pool will also be burned. This switch to burning LUNA that is used to mint UST is likely to further boost LUNA's value, as increased UST transaction volume—an outcome that seems probable following this upgrade—requires more LUNA burning. All of this places deflationary pressure on the asset, akin to EIP-1559's effect on Ethereum. Just as important, Terra, already part of the Cosmos ecosystem, has now integrated Cosmos' Inter-Blockchain Communication (IBC) protocol, known as Stargate. The increased compatibility with Cosmos' "internet of blockchains" means data can be shared between Terra and other Cosmos-integrated blockchains such as Polkadot (DOT) and Solana (SOL)—and soon Ethereum (ETH). The Stargate integration opens Terra up to hundreds more decentralized apps in the Cosmos ecosystem. In short, it's more useful now. Finally, the Columbus-5 upgrade increases yields paid to those who delegate their LUNA to proof-of-stake validators on the Terra network as those contributing to the network will now receive swap fees that are generated anytime someone trades via the Terra Station wallet app; previously, those fees had been burned.  The forthcoming Wormhole bridge, which has been set in motion by Columbus-5, will connect Terra and the fast-growing Solana network, making the UST stablecoin usable in the SOL ecosystem. It's a multi-chain stablecoin, following the path of Tether and others in that regard. Still, it's important for crypto investors to remember that UST is a highly experimental and even controversial stablecoin, as it's backed by only an algorithm, one that uses LUNA's fluctuating value to maintain a stable price for UST. Those bullish on LUNA—called "LUNAtics"—expect the value of LUNA to rise as deflationary pressure makes LUNA increasingly scarce.  If that turns out to be true—a big if, since tokens don't always behave exactly the way token holders expect after a network upgrade—the Columbus-5 upgrade would be good news for UST, and in turn, good news for LUNA. Source: Decrypt.co Crypto Breaking News | September 30, 2021 at 11:56 pm | Categories: News | URL: https://wp.me/papzAO-pWk Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/what-terras-columbus-5-upgrade-means-for-luna/

Crypto Breaking News posted: "Orlando Bravo, the billionaire who co-founded private equity firm Thoma Bravo, says he is very bullish on bitcoin, expecting the cryptocurrency to "increase significantly." He described: "Crypto is just a great system. It's fri" New post on Crypto Breaking News Billionaire Orlando Bravo Owns Bitcoin, Says 'It Will Increase Significantly, I'm Very Bullish' by Crypto Breaking News Orlando Bravo, the billionaire who co-founded private equity firm Thoma Bravo, says he is very bullish on bitcoin, expecting the cryptocurrency to "increase significantly." He described: "Crypto is just a great system. It's frictionless. It's decentralized. And young people want their own financial system. So it is here to stay." Billionaire Investor 'Very Bullish' on Bitcoin Orlando Bravo, co-founder and managing partner of private equity firm Thoma Bravo, talked about bitcoin Wednesday at CNBC's Delivering Alpha conference. His net worth as of Sept. 29 is $6.3 billion, according to Forbes. Bravo is reportedly the first Puerto Rican-born billionaire. "How could you not love crypto?" he said at the conference, elaborating: Crypto is just a great system. It's frictionless. It's decentralized. And young people want their own financial system. So it is here to stay. "The underlying technology of blockchain, regardless of what protocol or what system you are building upon, can be very powerful and sometimes provides better use cases than data-based software," the billionaire investor added. In July, Thomas Bravo participated in a funding round for FTX Trading Ltd., owner and operator of the cryptocurrency exchange FTX. Bravo also revealed Wednesday that he has personally invested in bitcoin, stating: For me, it's pretty simple. More people are going to use in the future than today, and it's going to be more established. Institutions are just beginning to go there, and once that happens, I think it will increase significantly over the years. I'm very bullish. What do you think about billionaire Orlando Bravo's comments on bitcoin and crypto? Let us know in the comments section below. Source: Bitcoin.com Crypto Breaking News | September 30, 2021 at 11:30 pm | Categories: News | URL: https://wp.me/papzAO-pWg Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/billionaire-orlando-bravo-owns-bitcoin-says-it-will-increase-significantly-im-very-bullish/

Crypto Breaking News posted: "Visa has been active in engaging with crypto, and this week is no exception. Reports have emerged that the payment facilitator and financial services firm has deployed it's first smart contract on Ethereum Testnet. The move isn't the first to signal Visa'" New post on Crypto Breaking News Visa Is Building A Payment Channel Network On Ethereum by Crypto Breaking News Visa has been active in engaging with crypto, and this week is no exception. Reports have emerged that the payment facilitator and financial services firm has deployed it's first smart contract on Ethereum Testnet. The move isn't the first to signal Visa's increased acceptance to adopt crypto in their operations. Visa's Universal Payment Channel The company is showing clear investment in becoming a leader of payment processing through central banks via crypto. Visa's first smart contract deployment was a payment channel accepting both Ether and USDC. This is a conceptual protocol in development by the payment processor that will enable interoperability between central bank digital currencies (CBDCs), called a "Universal Payment Channel," or UPC. The timing is appropriate given the global discussion around CBDCs. This week alone, Nigeria is looking to be the first country in Africa to launch a CBDC, the Bank of England has released it's CBDC forum members, and New Zealand's Central Bank has sought public feedback on CBDCs. Of course, the biggest story in the speculation is China's recent bitcoin ban paired with rumors of the country's exploration of a 'digital yuan.' Through it all, it's safe to say that crypto and centralized currencies are at the forefront of most countries treasury departments lately. Visa's UPC is being built to support different CBDCs across a variety of blockchains. The company's head of crypto, Cuy Sheffield, described the initiative as a "longer-term future thinking concept around a way that Visa could potentially help become a bridge between one digital currency on one blockchain and another digital currency on another blockchain." Ethereum testnet is host to Visa's first take at a Universal Payment Channel protocol. | Source: ETH-USD on TradingView.com Related Reading | Crypto Analyst Says Ethereum Market Is A "Ticking Time Bomb", Here's Why It's All Part Of The Plan This week's development is far from the first move from Visa to dig their heels in crypto. Last month, the company purchased a CryptoPunk and released a positive perspective around NFTs. And at the midpoint of 2021, the company shared that over $1B had been spent on crypto-linked Visa cards on the year. Through it all, Visa has shown a clear favorite in Ethereum as well, and now is utilizing the chain once again with the Universal Payment Channel. The company's clear engagement with Ethereum could prove fruitful to establishing further institution buy-in for the blockchain. In the corresponding UPC research and insights report released by Visa, the company shows a clear desire to be a "network of blockchain networks" for global transactions. Digital asset tracker 21Shares has described Ethereum as "the most significant single innovation within the cryptoasset and blockchain industry since the creation of Bitcoin in 2009." Should Visa's UPC be built on the backbone of Ethereum? There's good reason to be optimistic looking forward. Related Reading | TA: Ethereum Just Reversed But $3,150 Presents A Major Challenge Featured image from Pexels, Charts from TradingView.com Source: NewsBTC.com Crypto Breaking News | September 30, 2021 at 11:13 pm | Categories: Ethereum, News | URL: https://wp.me/papzAO-pWc Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/visa-is-building-a-payment-channel-network-on-ethereum/

Crypto Breaking News posted: "Avalanche is now available to trade on Coinbase and its Android and iOS mobile apps. Users can from today trade, send, receive and store AVAX on the standard Coinbase platform, according to an announcement from the exchange.  Avalanche (listed as AVAX) wa" New post on Crypto Breaking News Coinbase Lists Ethereum Rival Avalanche, Price Gets a Modest Bump by Crypto Breaking News Avalanche is now available to trade on Coinbase and its Android and iOS mobile apps. Users can from today trade, send, receive and store AVAX on the standard Coinbase platform, according to an announcement from the exchange.  Avalanche (listed as AVAX) was already available on Coinbase Pro as of yesterday, the exchange's "professional" trading platform. The price of AVAX popped 6% yesterday, though it's only up a modest 2.6% today. The cryptocurrency is the twelfth-most valuable digital asset, with a market cap of over $14 billion. Like Solana and other next-gen blockchain platforms, Avalanche is often billed as an "Ethereum killer," meaning it aims to compete with Ethereum, the network behind the second-biggest crypto by market cap.  AVAX is launching on https://t.co/bCG11KMQ6s & in the iOS & Android apps within the next 15 mins. You may need to update your app to buy, sell, convert, send, receive or store AVAX. We will update when all are fully live. https://t.co/2klJShUUJF — Coinbase (@coinbase) September 30, 2021 Avalanche is an open-source platform that, similar to Ethereum, is for developers who want to build things like decentralized apps or multi-functional blockchains. It claims to be quicker, cheaper and more secure than Ethereum.  Ethereum competitors are springing up as of late to offer alternatives to one of the oldest cryptocurrency projects as it grapples with a congested network and high transaction fees.  And so far, so good: Avalanche is popular. Its price has soared in the past few months—hitting an all-time high of $79.31 last week. It has since dipped by 17% and was today trading for $65.47, according to CoinGecko data.  Avalanche was hit hard just two days ago—along with Ethereum and Solana, another Ethereum rival—when the market crashed. But it's still up over 400% from July.  The Coinbase announcement at the time of writing didn't seem to affect Avalanche's price. Though its price did shoot up after it was yesterday listed on Coinbase Pro, it has since cooled off. San Francisco-based Coinbase added in its announcement that it was working to list a wider variety of assets—something it is doing at record pace: in the first six months of this year alone, it added 29 new cryptocurrencies. The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice. Source: Decrypt.co Crypto Breaking News | September 30, 2021 at 11:12 pm | Categories: News | URL: https://wp.me/papzAO-pWe Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/coinbase-lists-ethereum-rival-avalanche-price-gets-a-modest-bump/

Crypto Breaking News posted: "Bitcoin (BTC) has been trading in a descending pattern since the strong $53,000 rejection that occurred on Sept. 7, and the $3.4 billion futures contracts liquidation along with China's ban on crypto trading appear to have severely impacted traders' moral" New post on Crypto Breaking News Bears intend to pin Bitcoin price below $42K until Friday's $700M expiry passes by Crypto Breaking News Bitcoin (BTC) has been trading in a descending pattern since the strong $53,000 rejection that occurred on Sept. 7, and the $3.4 billion futures contracts liquidation along with China's ban on crypto trading appear to have severely impacted traders' morale.  Adding to the negative sentiment, major crypto exchanges like Binance and Huobi halted some services in mainland China, and some of the largest Ethereum mining pools, like Sparkpool and BeePool were forced to shut down completely. Bitcoin price in USD at Coinbase. Source: TradingView Based on the above chart, it is possible to understand why buyers placed 80% of their bets at $44,000 or higher. However, the past two weeks definitively caused those call (buy) options to lose value quickly. On Sept. 25, the People's Bank of China (PBoC) posted a nationwide ban on crypto and barred companies from providing financial transactions and services to market participants. The news triggered an 8% dip in Bitcoin's price along with a broader pullback on altcoins. The bearish sentiment was confirmed after Tesla CEO Elon Musk expressed his support for cryptocurrency at the Code Conference in California. Musk said: "It is not possible to, I think, destroy crypto, but it is possible for governments to slow down its advancement." Had we been in a neutral-to-bullish market, those remarks would likely have reversed the negative trend. For example, on July 21, Elon Musk said that Bitcoin had already hit his benchmark on renewable energy. As a result, Bitcoin price, which had previously dropped 12% in ten days, reverted the move and hiked 35% over the next ten days. The Oct. 1 expiry will be a strength test for bulls because any price below $42,000 means a bloodbath with absolute dominance of put (sell) options. Bitcoin options aggregate open interest for Oct. 1. Source: Bybt.com Initially, the $285 million neutral-to-bullish instruments dominated the weekly expiry by 21% compared to the $320 million puts (sell) options. However, the 1.21 call-to-put ratio is deceiving because the excessive optimism seen from bulls could wipe out most of their bets if Bitcoin price remains below $43,000 at 8:00 am UTC on Friday. After all, what good is a right to acquire Bitcoin at $50,000 if it's trading below that price? Bears were also caught by surprise Sixty-six percent of the put options, where the buyer holds a right to sell Bitcoin at a pre-established price, has been placed at $42,000 or lower. These neutral-to-bearish instruments will become worthless if Bitcoin trades above that price on Friday morning. Below are the four most likely scenarios that consider the current price levels. The imbalance favoring either side represents the potential profit from the expiry. The data shows how many contracts will be available on Friday, depending on the expiry price. Between $40,000 and $41,000: 110 calls vs. 4,470 puts. The net result is $175 million favoring the protective put (bear) instruments. Between $41,000 and $43,000: 640 calls vs. 4,000 puts. The net result continues to favor bears by $140 million. Between $43,000 and $45,000: 1,780 calls vs. 2,070 puts. The net result is balanced between bears and bulls. Above $45,000: 2,530 calls vs. 1,090 puts. The net result shifts in favor of bulls by $65 million. This crude estimate considers call (buy) options used in bullish strategies and put (sell) options exclusively in neutral-to-bearish trades. Unfortunately, real life is not that simple because it's possible that more complex investment strategies are being deployed. For example, a trader could have sold a put option, effectively gaining a positive exposure to Bitcoin above a specific price. Consequently, there's no easy way to estimate this effect, so the simple analysis above is a good guess. As things currently stand, bears have absolute control of the Oct. 1 expiry and they have a few good reasons to keep pressuring the price below $43,000. Unless some unexpected buying pressure comes out over the next 12 hours, the amount of capital required for bulls to force the market above the $45,000 threshold seems immense and unjustified. On the other hand, bears need a 5% negative price swing that takes BTC below $41,000 to increase their lead by $35 million. So this move also shows little return for the amount of effort required. The bull's only hope resides in some surprise positive newsflow for Bitcoin price ahead of Oct. 1 at 8:00 am UTC. If any sensible action is bound to occur, it will likely take place during the weekend, when there's less active flow. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision. Source: Cointelegraph.com Crypto Breaking News | September 30, 2021 at 10:24 pm | Categories: News | URL: https://wp.me/papzAO-pWa Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/bears-intend-to-pin-bitcoin-price-below-42k-until-fridays-700m-expiry-passes/

Crypto Breaking News posted: "Federal Reserve Chairman Jerome Powell believes the federal government needs to regulate the cryptocurrency market, but that a blanket ban on Bitcoin (BTC) and other digital assets is not in the cards.Speaking in response to a question from Republican Rep" New post on Crypto Breaking News Fed's Powell has no intent to ban Bitcoin or crypto by Crypto Breaking News Federal Reserve Chairman Jerome Powell believes the federal government needs to regulate the cryptocurrency market, but that a blanket ban on Bitcoin (BTC) and other digital assets is not in the cards. Speaking in response to a question from Republican Representative Ted Budd of North Carolina, Powell clarified that a China-style ban on digital assets was not something he's considering. Rep. Budd's question came in response to Powell raising doubts about the regulatory status of stablecoins and the central bank's ongoing deliberations around a so-called "digital dollar." (In Powell's view, a central bank digital currency, or CBDC, could perform many of the functions of stablecoins and cryptocurrencies but without the regulatory risk.) "Stablecoins are like money market funds [and] like bank deposits but they're, to some extent, outside the regulatory perimeter and it's appropriate they be regulated," he said. "Same activity, same regulation." Fed Chair Powell says he has no intention to ban #Bitcoin and cryptocurrencies pic.twitter.com/i2zfRPk1je — LilMoonLambo (@LilMoonLambo) September 30, 2021 Related: Countries representing over 90% of global GDP are exploring CBDCs A central bank digital currency has been on the Fed's radar for some time, but policymakers remain undecided on whether to pursue the project. In the meantime, the central bank has commissioned several research reports on the advantages and potential roadblocks of issuing a CBDC. Powell oversees the central bank's Federal Open Market Committee, which is responsible for setting United States monetary policy. Earlier this month, the Committee decided to leave its existing stimulus programs intact but said that the pandemic-induced bond purchase program could be winding down soon. The warning appears to have put some downward pressure on risk assets, which includes stocks and cryptocurrencies. Source: Cointelegraph.com Crypto Breaking News | September 30, 2021 at 10:05 pm | Categories: News | URL: https://wp.me/papzAO-pW6 Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/feds-powell-has-no-intent-to-ban-bitcoin-or-crypto/

Crypto Breaking News posted: "Federal Reserve Chair Jerome Powell today told Congress he has "no intention to ban" cryptocurrencies as China has done. Powell's response came after questioning from Rep. Ted Budd (R-NC) during a hearing of the House Committee on Financial Services on th" New post on Crypto Breaking News Fed Won't Ban Bitcoin Like China, Says Jerome Powell by Crypto Breaking News Federal Reserve Chair Jerome Powell today told Congress he has "no intention to ban" cryptocurrencies as China has done. Powell's response came after questioning from Rep. Ted Budd (R-NC) during a hearing of the House Committee on Financial Services on the response of the Treasury Department and Federal Reserve to the COVID pandemic. "Is it your intention to ban or limit the use of cryptocurrencies, like we're seeing in China?" Budd asked the central bank's top regulator, prefacing it by quoting Powell's July comments that the creation of a digital dollar might make stablecoins irrelevant. "No," responded Powell, clarifying that he had been referring to stablecoins in his earlier testimony, not to all cryptocurrencies. "No intention to ban them," he said today, in reference to cryptocurrencies. "But stablecoins are like money market funds, they're like bank deposits, but they're to some extent outside of the regulatory perimeter.  And it's appropriate that they be regulated. Same activity, same regulation." Stablecoins, such as Tether and USDC, are digital assets designed to hold a 1:1 value with a fiat currency. Powell has voiced concerns about Tether's operations in the past, noting that USDT isn't backed fully by U.S. dollars in a bank but by a mix of real dollars and other assets, including debt in the form of commercial paper. "Most of the time they're very liquid, it's all good," said Powell in a July hearing. But during a crisis, "The market just disappears. And that's when people will want their money." Regulations, he feels, will make sure consumers can get their money out in the case of a crisis. And his views are not entirely dissimilar to pro-Bitcoin Senator Cynthia Lummis (R-WY), who yesterday said on the Senate floor, "It may be the case that stablecoins should only be issued by depository institutions or through money-market funds or similar vehicles." She added: "Stablecoins must be 100% backed by cash and cash equivalents, and this should be audited regularly." Why China's Latest 'Bitcoin Ban' Is Bullish for DeFi Powell has been working with Treasury Secretary Janet Yellen on a draft of stablecoin regulations, which is expected in the next couple of weeks. It's not expected to touch on other cryptocurrencies, including Bitcoin and Ethereum, which are more volatile assets.  The People's Bank of China has had no such compunction, recently ramping up its efforts to curtail cryptocurrency use even as it experiments with its own central bank digital currency—a digital yuan. That has led to exchanges such as Huobi shutting off access to the 1 billion customers on mainland China—as well as powerful Chinese mining pools shuttering their operations. Law professor Rohan Grey, who helped draft the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, told Decrypt the U.S. Fed has a different purview than the PBoC. When asked what power Powell and the U.S. central bank had to ban crypto, Grey said, "On his own, not necessarily very much, but of course if the Fed made its position that these should be banned that would set a clear marker and direction for the broader regulatory and Congressional debate." Source: Decrypt.co Crypto Breaking News | September 30, 2021 at 10:00 pm | Categories: News | URL: https://wp.me/papzAO-pW8 Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/fed-wont-ban-bitcoin-like-china-says-jerome-powell/

Crypto Breaking News posted: "One of the backbones of crypto market in today's world are decentralized exchanges that took the world by the storm in recent years. And as the crypto exchange market is moving and developing rapidly, it is absolutely no surprise that the exchanges" New post on Crypto Breaking News Solana-Based DEX Soldex AI, CEO John Robertson Explains the Impact by Crypto Breaking News One of the backbones of crypto market in today's world are decentralized exchanges that took the world by the storm in recent years. And as the crypto exchange market is moving and developing rapidly, it is absolutely no surprise that the exchanges have to evolve in accordance. Therefore, today, The CEO of Soldex.ai, John Robertson will present you with the next step in crypto exchanges, which is the AI powered trading that may be the future of the token trading. The impact of Soldex.ai and what makes it to stand out from the other projects One of the most salient blockchain in the recent times is Solana. It took the world by storm while offering many benefits, hence it has been chosen for the Soldex.ai. Soldex.ai was created to solve certain issues caused by order-matching centralized exchanges and the trust-less custody found in the exchanges of the today. Soldex.ai will power the new avalanche of flexible financial markets. The protocols will serve as a foundational layer for such things as liquidity, custody, market making and the settlement. As mentioned previously Solana has some benefits compared to other DEXs such as Ethereum. Those would be an extremely fast transaction speed, which can hit up to 50,000 transactions per second and as if that would not be enough, the gas fees are only $0.00025 per transaction. For comparison, Ethereum can only squeeze 30 transactions per second and boasts menacing transaction fees of $12. Since the AI is overtaking more and more of the industries around the world it is no surprise that Crypto Exchanges will not be left behind. The initial driving force behind the Solana DEX will be the implementation of the AI trading bots, which will create trading strategies and will work relentlessly 24/7. Later, the traders will be able to create their own bot trading strategies and lend them to others for the commission fee. Consequently this will incentivize community for the further development of Soldex.ai through voting rights. One of the main reasons for the demand for automated trading is the fact that 80% of traders loose due to the blunders they make. Therefore, Soldex thought that the DEX will give people the ability to choose the trading strategy that fits them best. Different bots are being developed according to the criteria such as: margins; trading risks; 90 day success rate; trading pairs. It will also include the different criteria in the future. As previously mentioned, the exchange is being built on Solana. The team is hoping that it will attract the new users due to the rapidness of the trades and the technical potential in the future. Also one thing that new traders usually find annoying is the entire debacle that they have to go trough while opening new accounts. Soldex fully recognized this and have managed to make Soldex.ai completely permission-less, that is to say no KYC and ID checking, so you could jump into trading, providing liquidity and staking in absolutely no time. Solana will have its own toke SOLX. Soldex is hoping that the token will help to fulfill the mission, which is to have a transparent revenue system, which would be fair and profitable. The 30% of the tokens will go through the private sale, they make the majority. Around 5% will be released for the public sale. 14% will be allocated for the liquidity and the rest will be for the developers, advisors and others. The token itself will be used for protocol governance, transaction fees and staking for profits. But in the long term the team is planning to make a bunch of improvements as Solana blockchain offers a great opportunity for technical growth in the future. Besides the ability to make a profit on Soldex.ai, people will also have access to Soldex AI Academy. The team is hoping that it will help to build a strong community and help users to become more familiar with Solana and DeFi. Other purposes are that it will help new developers to start building, expose people to the technology offered by Solana and overall to unite the community. As of today Soldex have seen a great interest in the SOLX token. They are on round II of sales since the round I was oversubscribed. The current price for the token is $0.06 however, on the launch on December 10 it will be $0.1. "We are happy to see high participation of the private investors, funds and many more," CEO John Robertson Explains. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. Source: Bitcoin.com Crypto Breaking News | September 30, 2021 at 10:00 pm | Categories: News | URL: https://wp.me/papzAO-pW2 Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/solana-based-dex-soldex-ai-ceo-john-robertson-explains-the-impact/

Crypto Breaking News posted: "In 2017, crypto exchange OkCoin (along with Huobi) moved its operations out of China and shut down support the yuan amid China's crackdown on crypto mining. Four years later, China is still reiterating, again and again, its ban on crypto mining and transa" New post on Crypto Breaking News Regulation Is the Key to Mass Bitcoin Adoption: OkCoin CEO by Crypto Breaking News In 2017, crypto exchange OkCoin (along with Huobi) moved its operations out of China and shut down support the yuan amid China's crackdown on crypto mining. Four years later, China is still reiterating, again and again, its ban on crypto mining and transactions. (In July, OkCoin parent company OK Group officially dissolved its Beijing entity.) But OkCoin CEO Hong Fang is not terribly surprised by China's continued crackdown, and says she welcomes more regulation of the industry. "It's not that surprising that larger countries are more conservative on that front, and then smaller countries like El Salvador and others in Latin America are more proactive," she told Decrypt in an interview at the Messari Mainnet conference in New York last week—just two days before China's latest public statement sent Bitcoin tumbling. "What we are more focused on is to be compliant with the regulations where we are operating." Even as recent bearish comments from new SEC chair Gary Gensler have spooked crypto investors and entrepreneurs, Fang believes regulation is necessary for the space to mature. "We believe that [regulation] is the first step to actually build a bridge that can actually speak to a larger audience instead of just to the initial, niche population, which I think is important and critical for the further adoption of crypto," Fang said. Regulating the surging crypto industry Fang added that she has some sympathy with regulators who may struggle to keep ahead of the curve when it comes to the fast-moving pace of the crypto industry. "It's too much to ask the regulators to know everything that the leading entrepreneurs are working on and at the same time being able to come up with sensible policy to allow innovation," she said.  At the same time, she acknowledged, "The regulatory framework in the U.S. is not as clear as we would like it to be, which definitely increases the operational costs and compliance costs for players like us." Indeed, big names in the crypto industry have lashed out at regulators for—in their view—not being clear enough on what regulatory standards they expect to see in crypto.  Last month, Coinbase CEO Brian Armstrong called out the SEC on Twitter after the regulatory body threatened to sue the exchange over its now-abandoned Lend product.  "We're committed to following the law. Sometimes the law is unclear. So if the SEC wants to publish guidance, we are also happy to follow that (it's nice if you actually enforce it evenly across the industry equally by the way)," Armstrong tweeted.  "My firm belief is that crypto in itself is a grassroots community movement, and the best way to nurture that is to come up with something that is more grassroots and community-driven, which to me suggests that state and municipal regulators and policy-makers play a larger role going forward," Fang said. "That push and pull is actually healthy. Even if, in that process, we do feel that operational pain." What does Hong Fang think of CZ and Binance? In conversations about centralized crypto exchanges and how they approach regulation, Binance is never far out of mind. The largest exchange in the world by volume has also been a target for multiple global financial services regulators in the past year. To date, regulators in the UK, the Cayman Islands, Italy, Japan, Malaysia, Singapore, Holland, and South Africa have taken aim at Binance—some issuing consumer warnings, others placing Binance on investor warning lists, and others claiming the exchange is not licensed to do business in their respective countries.  How about Hong Fang's take on Binance and CEO Changpeng "CZ" Zhao's strategy with regulators? "He is a formidable player and I respect him for what he is doing," she told Decrypt. "Obviously, we have different strategies versus him. We are doing what we believe is right for the space and what we feel comfortable with... We also have a very strong connection to the regulatory landscape to make sure that we actually speak to the policymakers and comply. That's the only way to really connect in an efficient way to the current infrastructure." Source: Decrypt.co Crypto Breaking News | September 30, 2021 at 9:51 pm | Categories: News | URL: https://wp.me/papzAO-pW4 Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/regulation-is-the-key-to-mass-bitcoin-adoption-okcoin-ceo/

Crypto Breaking News posted: "On September 27, the digital currency firm Coinbase announced that U.S. customers will soon be able to directly deposit their paycheck into their Coinbase accounts. With the new direct deposit feature, Coinbase customers can leverage their funds to make i" New post on Crypto Breaking News Coinbase to Add Direct Deposit Feature — US Paychecks Can Soon Be Converted to Crypto by Crypto Breaking News On September 27, the digital currency firm Coinbase announced that U.S. customers will soon be able to directly deposit their paycheck into their Coinbase accounts. With the new direct deposit feature, Coinbase customers can leverage their funds to make investments, generate yield, or add value to their Coinbase prepaid debit card. US Coinbase Customers Will Soon Be Able to Use Direct Deposit Feature Coinbase has come a long way since the firm was created in 2012, and now as a publicly-listed company, the crypto firm offers a myriad of services and is still one of the top gateways to the crypto world. On Monday, the company's senior director of product, Prakash Hariramani, published a blog post explaining how U.S. Coinbase customers will soon be able to directly deposit their paycheck into their Coinbase accounts. "Over the next few weeks," Hariramani announced, "we're rolling out the ability for customers in the U.S. to deposit their paycheck into Coinbase to more easily make regular crypto trades, spend on Coinbase Card, earn crypto rewards, and more. Get paid in crypto or in U.S. dollars and deposit as much or as little of your paycheck as you want. The future of payroll is coming." Hariramani's post adds: Now, you'll save time on the extra steps it takes to move money so you can immediately earn interest on your income or earn crypto rewards with your Coinbase Card. Plus, you'll pay zero transaction fees on direct deposit funds so you have instant and free access to the crypto economy. Access to Over 100 Cryptocurrencies According to Hariramani, users can deposit as little or as much as they want from their paychecks and can get the funds paid in over 100 crypto assets. The funds can be transferred into stablecoins like USDC and DAI, or remain as USD, as well. Hariramani says the setup can be done easily without leaving the Coinbase application. "Tap direct deposit in the settings, follow the instructions, and find your current payroll company or employer, and we'll automatically update your paycheck allocation," the Coinbase executive said. If you'd prefer to set up direct deposit manually, we'll provide instructions on what to share with your HR department or employer payroll website. You can modify your direct deposit preferences at any time within your settings," Hariramani concludes. The Coinbase direct deposit feature adds more ways for people to access crypto which increases the crypto economy's accessibility overall. There are a few other firms that offer direct deposit solutions in order to access crypto, like the company Bitwage. Founded in 2014, Bitwage specializes in crypto payroll services and human resources (HR) for companies with employees that want to be paid in digital assets. What do you think about Coinbase adding direct deposit access for U.S. customers to its crypto markets? Let us know what you think about this subject in the comments section below. Source: Bitcoin.com Crypto Breaking News | September 30, 2021 at 9:30 pm | Categories: News | URL: https://wp.me/papzAO-pVY Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/coinbase-to-add-direct-deposit-feature-us-paychecks-can-soon-be-converted-to-crypto/

Crypto Breaking News posted: "Later today, the United States House of Representatives is expected to vote on the bipartisan Infrastructure Investment and Jobs Act of 2021, a bill authorizing sweeping investments in domains such as passenger rail, bridge repair, clean water and wastewa" New post on Crypto Breaking News The infrastructure bill is hanging in the balance. What would its enactment mean for crypto? by Crypto Breaking News Later today, the United States House of Representatives is expected to vote on the bipartisan Infrastructure Investment and Jobs Act of 2021, a bill authorizing sweeping investments in domains such as passenger rail, bridge repair, clean water and wastewater facilities, clean energy transmission, and universal access to high-speed internet. In addition to that, tucked into the massive bill are several provisions that would directly affect millions of crypto users if enacted, particularly the expanded tax reporting requirements for entities handling cryptocurrency transactions. Neither the bill becoming law nor even a House vote on it on Sept. 30 are warranted, however. The legislation is s working through Congress alongside the budget resolution bill, with several factions within the Democratic party – which controls the majority of seats in the chamber but needs a clean party-line for the initiative – conditioning their support of the infrastructure bill on certain social policy-related provisions being included in the budget reconciliation. As the political maneuvering approaches the boiling point, here is what legal experts and cryptocurrency industry players think of the bill that can become law within the next few hours. The spirit of the law At this point, whether the Infrastructure Investment and Jobs Act of 2021 in its current shape will become law is anyone's guess. Regardless of that, the way cryptocurrency-related provisions have made their way into an omnibus bill like this one could hint at how Congress might go about legislating on key policies that affect the crypto space going forward. On point of contention is that provisions affecting cryptocurrency users and businesses were appended to the bill without due consideration of what the industry thinks on the matter. Ben Weiss, CEO of crypto ATM provider CoinFlip, noted to Cointelegraph: Representatives from the industry did not have the opportunity to weigh in on or discuss the policy changes, which will cause a major disruption to the cryptocurrency ecosystem. We believe there should be more dialogue between Congress and members of this rapidly growing industry to lead to a better and clearer policy that will benefit everyone. At the same time, Jahon Jamali, co-founder of crypto investment firm Sarson Funds, does not believe that the passage of the bill would adversely affect the digital asset space in the long run, because the pace of the industry far exceeds the government's capability to catch up with it. Jamali added: I am sure that the enormity of the size of the bill and dollar amount the government is looking to spend will have implications on finance as a whole and will most likely drive more innovation in the fintech industry to lay the foundation for a blockchain-based system. Brock Pierce, chairman of the Bitcoin Foundation, expects that the market would "respond over time by adjusting the reality of more regulation." Pierce expects that cryptocurrency firms and entrepreneurs will work with regulators towards more sensible regulation as the industry's political influence strengthens. Indeed, the requirements laid out in the bill will not take effect until after 2023 – a very long time by the standards of the crypto universe. Shaun Hunley, tax consultant at software firm Thomson Reuters Tax and Accounting, believes that even if the bill doesn't pass today, some form of legislation requiring crypto information reporting will be enacted "because of the government's interest in fighting tax evasion." Many of these actors do not interact with the parties transacting on the blockchain and thus might not have access to their personal data, which would render compliance impossible. Who are the brokers? The major concern of the crypto community regarding the proposed legislation is the section of the Tax code that broadens the definition of cryptocurrency "broker" – invoking corresponding reporting requirements – beyond cryptocurrency exchange platforms to include entities such as software developers, stakers, node validators, and miners. Many of these actors do not interact with the parties transacting on the blockchain and thus might not have access to their personal data, which would render compliance impossible. Stan Sater, a corporate & technology attorney at law firm Founders Legal, believes that the confusing expansion of the key definition is a result of the legislators' lack of understanding of how to deal with crypto reporting. Sater commented to Cointelgraph: Typically, rather than relying on self-reporting, the government deputizes intermediaries to collect the information they need for taxes. In financial markets, those intermediaries are brokers. So you need to expand the definition of "broker", but how do you do that for digital assets and capture everyone involved in the industry? The government really doesn't know how to address this but they have a problem so they proposed an incredibly broad definition of "broker" that captures nearly everyone involved in the digital finance industry including individuals. In Sater's opinion, the proposed requirements are "incredibly vague" and they could lead to "forced surveillance on everyone." However, even if the bill is passed in its current form, the draft language would not automatically become law, said Olya Veramchuk, director of tax solutions at blockchain data and software firm Lukka. Veramchuk said: The Treasury would have to issue proposed regulations and seek input on the matters from the public. That would be the time for the industry participants to add their fingerprints to the regulatory landscape and educate the regulators on the intricacies of the digital asset space, which would hopefully result in a workable and more feasible tax law. More surveillance and reporting Another part of the proposed legislation that got some in the crypto circles riled up is the Tax code section 6050I that, according to crypto advocacy group Proof of Stake Alliance could make "receiving digital assets a felony if not reported correctly." The provision applies to any person who receives over $10,000 and requires them to report the sender's personal information to the government. Hunley of Thomson Reuters Tax and Accounting believes that, while the requirement is not new per se, it could dampen some businesses' appetite for accepting crypto. Hunley commented: Amended 6050I would just treat digital assets as cash for currency transaction reporting purposes. Only serious investors would use crypto to engage in transactions over $10,000, and those are the types of transactions the IRS wants to know about. However, I believe this new requirement would possibly deter businesses from accepting crypto as a form of payment. Lukka's Veramchuk, too, pointed out that the rules articulated in section 6050I are not new, and therefore it is "unreasonable to view them as imposing undue surveillance on those engaging in digital asset transactions." The caveat, she added, is that these rules should only be applied in a fashion that is practical, sensible and attainable in the decentralized digital asset ecosystem. Hunley concluded that the bill "could potentially be confusing for taxpayers." He added: The government would essentially treat crypto as property for one purpose (reporting taxable income), cash for another purpose (the Section 6050I reporting rules), and securities for yet another purpose (the broker reporting rules). A good tax policy, in his opinion, is for crypto to be treated as one thing for all purposes. As of 2 PM Eastern on Sept. 30, it is still unclear whether the Infrastructure Investment and Jobs Act of 2021 will be brought to the floor today. Source: Cointelegraph.com Crypto Breaking News | September 30, 2021 at 9:30 pm | Categories: News | URL: https://wp.me/papzAO-pW0 Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/the-infrastructure-bill-is-hanging-in-the-balance-what-would-its-enactment-mean-for-crypto/

Crypto Breaking News posted: "Social media platform TikTok has announced its first foray into the nonfungible token, or NFT, market with a new collection inspired by its leading trend-setters.On Thursday, the company announced TikTok Top Moments, a new program that allows content crea" New post on Crypto Breaking News TikTok embraces NFTs with creator-led collection by Crypto Breaking News Social media platform TikTok has announced its first foray into the nonfungible token, or NFT, market with a new collection inspired by its leading trend-setters. On Thursday, the company announced TikTok Top Moments, a new program that allows content creators to be recognized and rewarded for their content. The NFT drops will be launched on Ethereum and powered by Immutable X, a new scaling solution for layer-two NFT protocol Immutable. TikTok Top Moments is said to feature a selection of six TokTok videos from the network's most influential creators. Each one is intended to celebrate the impact of these creators in making TikTok one of the largest social networks in the world. The company said that proceeds from the sales will go directly to the content creators and NFT artists. Related: Immutable raises $60M for its carbon-conscious NFT platform TikTok appears to be slowly pivoting towards blockchain technology as part of its overall business strategy. As Cointelegraph recently reported, the company has partnered with blockchain streaming platform Audius around a new feature called TikTok Sounds. The integration allows Audius users to export songs created on the protocol to TikTok. TikTok has roughly 1 billion users, with its United States audience relying on the app to discover new artists and songs. Since launching its mainnet services in October 2020, Audius' user base has grown to 5 million. NFTs have emerged as a major driver of blockchain adoption, with businesses and individuals keen to embrace digital collectibles. August was the busiest month on record for the nascent industry, with total NFT sales hitting $4 billion. Source: Cointelegraph.com Crypto Breaking News | September 30, 2021 at 9:00 pm | Categories: News | URL: https://wp.me/papzAO-pVW Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/tiktok-embraces-nfts-with-creator-led-collection/

Crypto Breaking News posted: "Due to the enormous growth of DeFi and a lack of direct competitors, Ethereum wallet and browser extension MetaMask recently surpassed 10 million active users, a major milestone for the ConsenSys-led protocol. Now, a new browser wallet is looking to provi" New post on Crypto Breaking News XDEFI CEO wants to disrupt MetaMask's domination of browser wallets by Crypto Breaking News Due to the enormous growth of DeFi and a lack of direct competitors, Ethereum wallet and browser extension MetaMask recently surpassed 10 million active users, a major milestone for the ConsenSys-led protocol. Now, a new browser wallet is looking to provide an alternative to MetaMask by doing something that most developers are shying away from — creating a web-based experience as opposed to a mobile client.  Emile Dubié, the CEO of XDEFI Wallet, explained to Cointelegraph why MetaMask's growth has previously gone unperturbed by competitors: "I think developers decided to get on mobile being the next client for blockchain users while the reality is that most of the volume in DeFi is still going via web client. Why? Because you have more real estate from a UI point of view and browser wallets give much more flexibility to users." This flexibility, Dubié said, eliminates the need for native integrations with specific protocols within the mobile wallet, making any decentralized application accessible with an extension. So, whereas most developers are placing the future of DeFi growth in the mobile experience, Dubié said web-based extensions currently offer more usability. XDEFI Wallet, which operates a browser wallet that seeks to integrate with Web 3 technologies, recently concluded a $6 million funding round backed by some of the biggest venture funds in crypto. The investment round was led by Mechanism Capital, with participation from DeFiance Capital, Alameda Research, Sino Global Capital, Animoca Brands, Morningstar Ventures and CoinGecko. Dubié explained to Cointelegraph how XDEFI plans to fully utilize the Web 3 experience: "If you want to unleash the full potential of web 3 you need to have a wallet that allows [you] to interact with web applications built on different blockchains. No need to switch from a wallet to another, no need to deal with several seed phrases — just use the same vehicle to access different destinations." Related: OP Crypto Capital founder cites gaming, Web 3 as drivers of crypto economy XDEFI currently integrates with nine blockchains: Ethereum, Polygon, Terra, THORChain, Bitcoin, Binance chain, Binance Smart Chain, Bitcoin Cash and Litecoin. Support for Arbitrum, Solana and Avalanche are coming next, the CEO said. Source: Cointelegraph.com Crypto Breaking News | September 30, 2021 at 8:28 pm | Categories: News | URL: https://wp.me/papzAO-pVS Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/xdefi-ceo-wants-to-disrupt-metamasks-domination-of-browser-wallets/

Crypto Breaking News posted: "Crypto traders breathed a sigh of relief on Sept. 30 after media headlines reflected positive news regarding adoption and future regulation in the crypto sector. Early in the day, Visa announced that it has developed a layer-2-based blockchain intero" New post on Crypto Breaking News Rari, Telos and Polymath rally as Bitcoin price hits $44K by Crypto Breaking News Crypto traders breathed a sigh of relief on Sept. 30 after media headlines reflected positive news regarding adoption and future regulation in the crypto sector. Early in the day, Visa announced that it has developed a layer-2-based blockchain interoperability hub that will support cryptocurrency payments and Federal Reserve chair Jerome Powell stated that the regulator has no intention to ban cryptocurrencies. The rise in sentiment coincided with a positive day for the price action in Bitcoin, which is up 5.74% and trading near $44,000 at the time of writing.  Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were Rari Governance Token (RGT), Polymath (POLY) and Telos (TLOS). Rari Capital TVL surpasses $500 million The Rari Governance Token is the native token of Rari Capital that allows users to direct the future of the project's DeFi protocol. According to data from Cointelegraph Markets Pro, market conditions for RGT have been favorable for some time. The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity. VORTECS™ Score (green) vs. RGT price. Source: Cointelegraph Markets Pro As shown in the chart above, the VORTECS™ Score for RGT first climbed into the green zone on Sept. 25 and eventually reached a high of 82 on Sept. 28, around 33 hours before its price began to increase by 29% over the next day. The boost in the price of RGT comes as the community celebrates the Rari Capital protocol surpassing $500 million in total value locked as it strives to now break above the $1 billion mark. Telos pops as holders expect airdrops Telos is a blockchain network based on the EOSIO network that focuses on enabling the creation of smart contracts for nonfungible tokens (NFT), DeFi, gaming and social media. According to data from Cointelegraph Markets Pro, market conditions for TLOS have been favorable for some time. VORTECS™ Score (green) vs. TLOS price. Source: Cointelegraph Markets Pro As shown in the chart above, the VORTECS™ Score for TLOS has been elevated in the green zone for the majority of the past week and reached a high of 73 on Sept. 28, around the same time as the price began to increase by 42% over the next two days. The surge in price for TLOS comes as the community has been active and excited about an ongoing airdrop for the Fortis and Destiny World projects which was designed to show the Ethereum Virtual Machine's (EVM) capabilities of the Telos network's capacity to offer a flat gas price. Related: $1B science fund seeks blockchain projects to expand human lifespan Polymath adds new security tokens Polymath is a decentralized protocol that operates on the Ethereum (ETH) network and focuses on the developing technology that allows for the creation, issuance and management of digital securities on the blockchain. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $0.51 on Sept. 29, the price of POLY has rallied 51.58% to a daily high at $0.772 on Sept. 30 as its 24-hour trading volume spiked from an average of $21 million to $544 million. POLY/USDT 4-hour chart. Source: TradingView The spike in price and trading volume for POLY come as the developers behind the protocol continue to update and expand the network's capabilities while new projects such as RedSwan and its commercial real estate marketplace launch on the Polymath network. The overall cryptocurrency market cap now stands at $1.91 trillion and Bitcoin's dominance rate is 42.7%. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. Source: Cointelegraph.com Crypto Breaking News | September 30, 2021 at 8:15 pm | Categories: EOS, News | URL: https://wp.me/papzAO-pVU Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/rari-telos-and-polymath-rally-as-bitcoin-price-hits-44k/

Crypto Breaking News posted: "A connection between Nazis and NFTs isn't obvious—but one exists as a result of the Nazis' habit of being meticulous record keepers. As they swept through Europe, killing millions and claiming property as the Fuhrer's prize, they issued receipts for whate" New post on Crypto Breaking News Meet the Czech Aristocrat Family Turning to NFTs to Protect a 700-Year-Old Art Collection by Crypto Breaking News A connection between Nazis and NFTs isn't obvious—but one exists as a result of the Nazis' habit of being meticulous record keepers. As they swept through Europe, killing millions and claiming property as the Fuhrer's prize, they issued receipts for whatever they stole. And when the Communists led a coup in Czechoslovakia in 1948, they followed the Nazis' example. This practice of issuing receipts for loot has since proved extraordinarily helpful. That was the case in 1989, when a 28-year-old Czech prince named William Lobkowicz returned from exile in America to claim his family's inheritance: a priceless collection of 40,000 artifacts dating back 700 years. Those works—which include 16th- and 17th-century paintings from Renaissance master Bruegel and Spanish royal family portraitist Velázquez, as well as hand-annotated manuscripts from Mozart, Beethoven, and Haydn—are in danger again, this time by COVID lockdowns that have drained museums of patrons who help pay for their upkeep. Having overseen the collection for 700 years, the House of Lobkowicz is pinning its hopes for cultural preservation on an invention that wasn't around seven years ago: NFTs—the digital, 21st-century version of a receipt of ownership.  In the middle of October, the family is throwing a forum and gala in the Lobkowicz Palace, part of the famous Prague Castle, which was finally returned to the family in 2003 after a 12-year court battle. There, it will host a free exhibition of prominent NFT works, including an Edward Snowden NFT purchased by PleasrDAO for $5.4 million in ETH this April. Edward Snowden NFT Sells for $5.4 Million in Ethereum It will also use the event as a launchpad for the family's own NFT aspirations. "The vision is really for our family to share the past and create the future," said Prince William Rudolf Lobkowicz—the son of the other Prince William, who drove with his lawyer around the country in a beat-up Škoda to survey the family's belongings in 1989—in an interview with Decrypt. "And we really want to explore this intersection between the traditional art world and this rapidly evolving technology." The family's goal is also about more than creating a JPEG you can buy in the gift shop. Prince William said the aim isn't to produce "direct copies," but is instead about "showcasing how technology can be something that enhances our experience with these cultural assets."  He described using the NFTs to display X-ray and infrared images, peering beneath the invisible layers of a canvas to see works that have been painted over. "Or,"he said, "utilizing the technology to showcase multiple mediums to play music that hasn't been played in 250 years." William Lobkowicz giving a virtual tour. Image: House of Lobkowicz The Beethoven Music Room. Image: House of Lobkowicz The Bruegel Room. Image: House of Lobkowicz Lobkowicz Palace. Image: House of Lobkowicz In other words, it's about enhancing people's relationship with art rather than creating a facsimile of it—all while making the museum a hub for the democratization of fine art. That's similar to the approach of, say, generative NFTs that modify the relationships between consumer and creator. In the case of the Lobkowicz family, the relationship-building potential of NFTs could prove especially useful. That's because the Czech Republic has declared every piece in their collection to be a cultural monument that can't be sold or even leave the country—but which must nonetheless be preserved. Even if art lovers can't make it to the museum, they can purchase NFTs as "form of proof of patronage," says the younger Prince William. Only, instead of getting a member magazine in the mail, they get actual art for their contribution. Buying an NFT in the metaverse supports the upkeep of physical works in the real world. (1/17) Could NFTs help a museum or cultural institution preserve cultural heritage? A (personal) thread: — William R. Lobkowicz (@WRLobkowicz) September 20, 2021 The prince, who's leading the charge in the effort, says it goes beyond that. "From my perspective as kind of the next generation in the family, we've been thinking about ways of building communities that will be interested in the arts and feel some sort of buy-in into what we're working on, and will want to continue to have some sort of connection with the collections," he said. That can involve wanting to support the collection via individual ownership or even working via a decentralized autonomous organization, or DAO, to curate physical collections.  And he thinks these new methods of creating community and sharing art can stand the test of time. "As a family with 700 years of history," he said, "we very much think long term." Source: Decrypt.co Crypto Breaking News | September 30, 2021 at 8:07 pm | Categories: News | URL: https://wp.me/papzAO-pVQ Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? 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Crypto Breaking News posted: "Quant says some Bitcoin indicators show the same trend as in during Q4 2020, suggesting that BTC could make a similar move up. Bitcoin Netflow And Stablecoins Supply Ratio Trends Look Similar To Q4 2020 As explained by an analyst in a CryptoQuant post, tw" New post on Crypto Breaking News Quant: Bitcoin Indicators Now Look Similar To Q4 2020, Big Move Ahead? by Crypto Breaking News Quant says some Bitcoin indicators show the same trend as in during Q4 2020, suggesting that BTC could make a similar move up. Bitcoin Netflow And Stablecoins Supply Ratio Trends Look Similar To Q4 2020 As explained by an analyst in a CryptoQuant post, two BTC indicators: the netflow and the stablecoins supply ratio, are both trending similarly to how they did during the last quarter of 2020. The Bitcoin netflow indicator shows the net number of coins entering or exiting exchanges. Its value is calculated by taking the difference between the outflows and the inflows. When the metric observes positive values, it means exchanges are experiencing more inflows than the outflows, and so more investors have started sending their BTC to exchanges for selling purposes. Similarly, negative values imply just the opposite; investors are withdrawing their Bitcoin from exchanges either to hodl in personal wallets or to sell them through OTC deals. The other metric of relevance is the stablecoins supply ratio, which is defined as the market cap of BTC divided by the market cap of all stablecoins. When the indicator's values are on the lower end, it means there is an abundance of stablecoins supply in the market. High supplies can imply a potentially bullish sentiment among the market as investors use these coins for picking up other crypto like BTC. Related Reading | China's Ban On Crypto-Assets Forces Huobi Mining Pool To Rotate 100k Bitcoin On the other hand, higher values of the ratio indicate a low supply of stablecoins, which implies a lack of buying pressure in the market. This could lead to a potentially bearish trend or sideways movement for BTC. Now, here is a chart showing the trend of these two Bitcoin indicators vs the price: The similarity between Q4 2020 and the current period | Source: CryptoQuant As the above chart shows, the netflows seem to have been negative for a while now and the stablecoins supply ratio is also assuming low values. Related Reading | Bitcoin Bearish Signal: On-Chain Data Shows Whales Have Started Selling This trend looks to be similar to how it was during Q4 2020. What followed it was a big bull rally, and so the quant believes we may see BTC blow up similarly soon. BTC Price At the time of writing, Bitcoin's price floats around $43k, down 2% in the last seven days. Over the past month, the crypto has lost 9% in value. Over the last few days, BTC has only shown sideways movement as the crypto fails to make a move above $45k. The below chart shows the trend in the price of the coin over the last five days: BTC's price continues to consolidate between the $40k and $45k levels | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from CryptoQuant.com, TradingView.com Source: NewsBTC.com Crypto Breaking News | September 30, 2021 at 8:00 pm | Categories: Bitcoin, News | URL: https://wp.me/papzAO-pVO Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/quant-bitcoin-indicators-now-look-similar-to-q4-2020-big-move-ahead/

Crypto Breaking News posted: "One of the largest and oldest American comic book publishers DC Comics, Inc., has announced the firm has partnered with Palm NFT Studio in order to unleash a large swathe of non-fungible token (NFT) collectibles. The NFT drop will take place during the DC" New post on Crypto Breaking News DC Comics Aims to Release 'One of the Largest NFT Drops Ever' at This Year's Fandome by Crypto Breaking News One of the largest and oldest American comic book publishers DC Comics, Inc., has announced the firm has partnered with Palm NFT Studio in order to unleash a large swathe of non-fungible token (NFT) collectibles. The NFT drop will take place during the DC Fandome on October 16 and the NFT art will feature superheroes like Batman, Superman, Green Lantern, Wonder Woman, and Harley Quinn. American Comic Book Publisher DC Comics to Drop a Large Collection of NFTs Two weeks from now on October 16, the American comic book publisher DC Comics aims to drop a large quantity of non-fungible token (NFT) collectibles featuring the firm's most beloved characters at the DC Fandome event. The NFT drop from DC Comics is in partnership with Palm NFT Studio and the comic book publisher plans to release a number of NFTs featuring Harley Quinn, Wonder Woman, Batman, Superman, and Green Lantern. The announcement that was revealed to Bitcoin.com News explains that the NFTs were hand-selected by DC's publisher and chief creative officer Jim Lee. "We spent a lot of time on how to translate and adapt these classic covers into a 21st-century format such as NFTs," Lee explained in a statement sent to our newsdesk. "This drop pays homage to our 87-year history while visualizing a future in which NFTs play a foundational role in novel ways of interacting with DC content and unlocking new experiences." The announcement details that the 2020 DC Fandome saw 22 million global views across 220 countries and territories in a mere 24 hours. The firm expects 2021's Fandome numbers to exceed last year's, making it the "first large-scale virtual event with registration powered by NFTs, and very likely one of the largest NFT drops ever." The company said it collaborated with Palm NFT Studio because the company is "flexible as artists are creative." NFTs to Feature Batman, Wonder Woman, Rare DC Comic Covers Moreover, the comic book publisher stresses that "Palm's blockchain provides a 99.99% reduction in energy usage compared to proof-of-work (PoW) systems. The blockchain allows DC to mint millions of NFTs for fans "with near-zero cost," DC details. DC Comics entered the NFT industry in recent times and has already released NFTs via Orbis Blockchain Technologies Limited and the Veve Digital Collectibles app. Marvel Comics has also entered the NFT space by leveraging Orbis and the Veve app. Moreover, both firms have warned freelance artists not to publish the company's brand name characters without permission from Marvel or DC Comics. The American comic book publisher DC explains the upcoming NFT drop will have certain levels of rarity. DC Comics states: The premier drop offers fans the opportunity to collect three covers for each character in three levels of rarity. For example, fans of the Princess of Themyscira a.k.a. Wonder Woman can collect a Common (1987's Wonder Woman #1 by George Peréz), Rare (2021's Nubia and the Amazons #1 by Alitha Martinez), and/or Legendary (Yara Flor on 2021's Future State: Wonder Woman #1 by Jenny Frison) cover. "It's immensely rewarding to work with a partner like DC who understands that blockchain is more than a technology, it's a sustainable storytelling tool that can reshape the relationship between creators and fans," Palm NFT Studio's co-founder Dan Heyman explained during the announcement. "What does it mean to be a fan? What does it mean to be a collector? These are age-old questions that we get to watch creators like DC answer in brand new ways every day." DC Comics says fans can register for the DC Fandome event's free NFT at dcfandome.com. What do you think about DC Comics dropping free NFTs to fans attending the DC Fandome event? Let us know what you think about this subject in the comments section below. Source: Bitcoin.com Crypto Breaking News | September 30, 2021 at 7:30 pm | Categories: News | URL: https://wp.me/papzAO-pVM Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/dc-comics-aims-to-release-one-of-the-largest-nft-drops-ever-at-this-years-fandome/

Crypto Breaking News posted: "Social video sharing network TikTok, which now counts more than one billion global monthly active users, will release a series of NFT collectibles with celebrity partners like Lil Nas X and Gary Vaynerchuk, the firm announced today. TikTok will tap some o" New post on Crypto Breaking News TikTok to Release Ethereum NFTs With Lil Nas X, Gary Vee, Grimes by Crypto Breaking News Social video sharing network TikTok, which now counts more than one billion global monthly active users, will release a series of NFT collectibles with celebrity partners like Lil Nas X and Gary Vaynerchuk, the firm announced today. TikTok will tap some of its top creators to issue six NFTs based on existing, "culturally significant" videos shared on the service. An NFT is a blockchain-based receipt of sorts, allowing holders to prove ownership of a scarce digital item—such as a video file or digital artwork, for example. The TikTok Top Moments collection will span six different NFT drops. Rapper Lil Nas X is the subject of the first drop on October 6, with an NFT based on a TikTok video by artist Rudy Willingham. The video, a stop-motion homage to Lil Nas X's popular "Montero (Call Me By Your Name)" music video, has garnered millions of interactions via the service. .@tiktok_us is coming to Ethereum... WAGMI @Immutable X is thrilled to power the launch of TikTok Top Moments, its first creator-led NFT collection on Layer 2 with @StarkWareLtd. Own a moment that broke the internet. https://t.co/3HMESVJre3 pic.twitter.com/qYI3VO2JUk — Immutable (@Immutable) September 30, 2021 Additional moments in the collection will feature contributions from investor and NFT entrepreneur Gary Vaynerchuk (aka Gary Vee), social media personality Bella Poarch, and musician Grimes, who sold $6 million of her NFT artwork last spring. TikTok will offer both single-edition (one-of-one) and larger "limited edition" runs of NFT collectibles. TikTok's NFTs will be minted on Immutable X, a layer-2 scaling solution that runs on top of Ethereum, the leading platform for NFTs. Immutable X allows for lower transaction fees and faster completion times than Ethereum's mainnet, plus it uses significantly less energy than Ethereum's own current proof-of-work consensus model. The NFT market exploded earlier this year with some $2.5 billion worth of trading volume across top marketplaces in the first six months of 2021. However, a recent resurgence has set even larger peaks. Leading marketplace OpenSea had more than $3.4 billion in volume in August alone, per Dune Analytics, and that's just one platform: there's plenty happening elsewhere. DC Comics Is Giving Away Potentially Millions of Free Ethereum NFTs This is TikTok's second recent step into the crypto space. Last month, the firm announced a partnership with the crypto music service Audius, which made it the first music platform to integrate TikTok's Sound Kit functionality to easily import songs into videos. Audius's AUDIO token surged in price soon after, and the music startup recently announced a $5 million funding round including investors like Katy Perry and Nas. Source: Decrypt.co Crypto Breaking News | September 30, 2021 at 7:10 pm | Categories: News | URL: https://wp.me/papzAO-pVI Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/tiktok-to-release-ethereum-nfts-with-lil-nas-x-gary-vee-grimes/

Crypto Breaking News posted: "From today, NFT lending service JPEG'd will enable owners to borrow against one of the most recognizable non-fungible tokens, CryptoPunks. The service will use decentralized oracle provider Chainlink for its data feed. Non-fungible tokens, or NFTs, are cr" New post on Crypto Breaking News NFT Service JPEG'd Launches CryptoPunks Lending and Chainlink Integration  by Crypto Breaking News From today, NFT lending service JPEG'd will enable owners to borrow against one of the most recognizable non-fungible tokens, CryptoPunks. The service will use decentralized oracle provider Chainlink for its data feed. Non-fungible tokens, or NFTs, are cryptographically unique digital assets that can be linked to content such as images or video. In the case of CryptoPunks, they form a collection of 10,000 randomly generated pixel art images of punks, each with a unique set of attributes. Rare CryptoPunks have sold for millions of dollars each.  Yet CryptoPunks and other NFT projects exist in a siloed market, the team behind JPEG'd said in a statement shared with Decrypt. Their aim is to better integrate these collections within the wider decentralized finance (DeFi) sector, so that users can access liquidity by using their NFTs as collateral, while still retaining ownership of the tokens themselves. JPEG'd isn't the only service in this fast-moving sector; others include NFTfi, backed by Roham Gharegozlou, CEO of Dapper Labs—the company behind Cryptokitties and NBA Top Shot. DeFi money market Aave has also tapped into the concept with Aavegotchis, NFT crypto-collectibles used in a game universe; every Aavegotchi has Aave's aTokens staked inside them as collateral, meaning that each one generates yield on Aave. JPEG'd and Chainlink  JPEG'd, which is governed by a Decentralized Autonomous Organization (DAO,) is offering CryptoPunk owners the opportunity to open up a so-called NFDP (non-fungible debt position). This works by allowing them to deposit their CryptoPunks into a smart contract and mint a synthetic stablecoin (PUSd,) which provides them with liquidity and the ability to earn yield in DeFi. In addition, JPEG'd have introduced safeguards for extra investor protection. Its insurance mechanism will be "the first of its kind" and will give depositors "peace of mind that in the event of liquidation they can repurchase their NFT from the DAO, instead of it being instantly sold on the secondary market," a JPEG'd spokesperson told Decrypt. But accurately pricing the NFTs is no easy task. Spot pricing, the team maintains, is not an accurate approach for reasons including susceptibility to manipulation and the range of prices in most collections, which can skew overall valuation.  Instead, JPEG'd has tapped Chainlink to accurately price the NFTs used as collateral with a custom-designed solution based on a CryptoPunks price feed.  Chainlink Is Building a Billion-Dollar Bridge to a Multi-Chain World Central to the feed is the so-called Time-Weighted Average Price (TWAP),  to measure both sales and floor prices of individual pieces, creating a blended price that mitigates outlier events and makes it harder to manipulate pricing. Ultimately, JPEG'd plans to offer its services for other popular NFT collections including EtherRocks, Art Blocks, Dino Pals, Autoglyphs, and Bored Ape Yacht Club.  Meanwhile, Chainlink is aiming to set a new industry standard in how well-established NFT collections are fairly and securely priced on-chain. "This is a major step forward in merging the NFT and DeFi worlds and will enable some very interesting use cases," Johann Eid, Head of Integrations at Chainlink, told Decrypt. And that's not all. "Our vision for the future sees the NFT space expanding to music royalties and albums," said JPEG'd.  We can even make money off that dusty Mariah Carey album, wut. Source: Decrypt.co Crypto Breaking News | September 30, 2021 at 7:01 pm | Categories: News | URL: https://wp.me/papzAO-pVK Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/nft-service-jpegd-launches-cryptopunks-lending-and-chainlink-integration/

Crypto Breaking News posted: "Billionaire Orlando Bravo recently revealed his stance on crypto. Talking to CNBC, Bravo revealed that he indeed held bitcoin and held a very bullish stance on the future of the digital asset. The billionaire appear at the Delivering Alpha conference wher" New post on Crypto Breaking News Billionaire Orlando Bravo Reveals He Owns Bitcoin And Why He's 'Very Bullish' by Crypto Breaking News Billionaire Orlando Bravo recently revealed his stance on crypto. Talking to CNBC, Bravo revealed that he indeed held bitcoin and held a very bullish stance on the future of the digital asset. The billionaire appear at the Delivering Alpha conference where he openly expressed his love for crypto. Bravo highlight some of the best features of cryptocurrencies, exclaiming, "How could you not love crypto?" Bitcoin Is Here To Stay Although already quite valuable, the billionaire sees more growth in the future of the currency. Institutional investors are yet to completely dive into the space and Bravo explained that with more institutional adoption will come a surge in the value of the digital asset. Related Reading | JPMorgan CEO Doesn't Care If Bitcoin Grows 10X In Five Years Being able to completely operate outside the purview of the government has been one of the major drivers of bitcoin growth. It has provided investors the opportunity to invest with amounts that would otherwise have seen them locked out of traditional investment avenues. Providing a major pull for younger investors who would rather take control of their financial investments. Besides being personally owning bitcoin, Bravo's equity firm Thoma Bravo is also invested in the crypto space. Thoma Bravo participated in a recent funding round carried out by the fast-growing crypto exchange FTX Trading. This puts the billionaire in a position where he is both personally and professionally invested in crypto. But it doesn't end there. The fund manager also sees great potential in blockchain technology and said it "sometimes provides better use cases than data-based software." BTC price trading in the mid-$43K | Source: BTCUSD on TradingView.com Why Bravo Is Bullish Bravo's bullish stance on crypto mainly boils down to one thing; adoption. It is estimated that less than 10% of the world's population knows about bitcoin. With bitcoin's growth being likened to that of the internet, there is going to be a major explosion in adoption in the next five years. The billionaire pointed that the digital asset will only continue to grow as more people adopt it. "For me, it's pretty simple. More people are going to use it in the future than today, and it's going to be more established. Institutions are just beginning to go there, and once that happens, I think it will increase significantly over the years. I'm very bullish." Related Reading | Verifone Brings Bitcoin Payments To Thousands Of Merchants Across The U.S. When asked if he thought crypto was here to stay, Bravo had enthusiastically replied, "absolutely." He explained that inflation and transaction fee rates will drive people to bitcoin. The billionaire declined to comment on future price predictions for the asset saying, "I'm not going to give you a number because looking at the fundamental value here is very difficult." But added that bitcoin's finite supply coupled with its use cases and growing adoption will be positive for the value of the digital asset going forward. Featured image from The Guardian, chart from TradinginView.com Source: NewsBTC.com Crypto Breaking News | September 30, 2021 at 6:00 pm | Categories: Bitcoin, News | URL: https://wp.me/papzAO-pVH Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/billionaire-orlando-bravo-reveals-he-owns-bitcoin-and-why-hes-very-bullish/

Crypto Breaking News posted: "Ether (ETH) price has seen quite a bit of volatility lately and to the surprise of many traders, the $4,000 level continues to present considerable resistance. Currently, the price is respecting the upward channel which started in August but every time th" New post on Crypto Breaking News Ethereum bears look to score on Friday's $340M weekly ETH options expiry by Crypto Breaking News Ether (ETH) price has seen quite a bit of volatility lately and to the surprise of many traders, the $4,000 level continues to present considerable resistance. Currently, the price is respecting the upward channel which started in August but every time the support is tested, the risk of an aggressive correction increases. With that in mind, this Friday's $340 million options expiry will likely be dominated by neutral-to-bearish put options.  Ether price at Bitstamp in USD. Source: TradingView Bulls placed larger bets for the expiry but it appears that they were too optimistic for Oct. 1, so their $215 million call (buy) options are getting closer to becoming with the looming approach of the expiry date. It's possible that Ether could be a victim of its own success because the demand for decentralized finance (DeFi) applications and the minting of non-fungible tokens (NFT) continue to clog the network. This has caused the average gas fee to surpass $20 over the past ten days. Largest gas spenders past 24 hours. Source: etherscan.io Notice above how OpenSea, the largest NFT marketplace, represents over 20% of the entire Ethereum network's gas use in the past 24 hours. When analyzing the incredible demand for blockchain transactions, Polygon's co-founder, Sandeep Nailwal, says it is a matter of time before Ethereum overtakes Bitcoin as the dominant layer-1 protocol. However, negative news continues to emerge as the fourth-largest Ethereum mining pool will shut down operations in China, citing "regulatory policies." Furthermore, SparkPool, the second-largest Ether mining pool, will also cease operations this month. As for the $340 million options expiry on Friday, bulls need to push the price above $3,000 to avoid significant bearish pressure. Ethereum options aggregate open interest for Oct. 1. Source: Bybt.com As noted above, bulls were caught by surprise because the call (buy) instruments were placed at $2,900 or higher. Consequently, if Ether remains below that price on Sept. 17, only $1.4 million worth of neutral-to-bullish call options will be activated on the expiry. This means that a $3,000 put option becomes worthless if Ether remains below that price at 8:00 am UTC on Oct. 1. Bulls placed more bets, but there's a catch The 1.74 call-to-put ratio represents the slight difference between the $215 million worth of call (buy) options versus the $125 million put (sell) options. Although favoring bulls, this broader view needs a more detailed analysis because some of those bets are implausible considering the current $2,800 price. Below are the four most likely scenarios for Ether price. The imbalance favoring either side represents the theoretical profit from the expiry. Depending on the expiry price, the quantity of calls (buy) and puts (sell) contracts becoming active varies: Between $2,400 and $2,500: 0 calls vs. 38,050 puts. The net result is $95 million favoring the protective put (bear) instruments. Between $2,500 and $2,800: 100 calls vs. 22,300 puts. The net result is $60 million favoring the protective put (bear) instruments. Between $2,800 and $3,000: 2,300 calls vs. 13,800 puts. The net result is $33 million favoring the protective put (bear) instruments. Between $3,000 and $3,200: 9,600 calls vs. 6,700 puts. The net result is balanced between bears and bulls. This raw estimate considers call options being exclusively used in bullish strategies and put options in neutral-to-bearish trades. However, investors might have used more complex strategies that typically involve different expiry dates. Bulls are wrecked one way or another Bears have absolute control of Friday's expiry and they have sufficient incentive to keep pressuring the price below $2,800. However, one must consider that during negative price trends, like now for Ether, a seller might cause a 2% negative move by placing large offers and making aggressive sales. On the other hand, bulls need a 7% positive price swing taking Ether above $3,000 to balance Friday's options expiry. It is impossible to calculate how much a trader needs to spend to drive the market that way, although it seems a colossal task. If no surprises come before Oct. 1, Ether's price should keep trading below $2,800. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. Source: Cointelegraph.com Crypto Breaking News | September 30, 2021 at 5:33 pm | Categories: News | URL: https://wp.me/papzAO-pVF Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/ethereum-bears-look-to-score-on-fridays-340m-weekly-eth-options-expiry/

Crypto Breaking News posted: "Axie Infinity has quickly become the biggest player in the burgeoning crypto gaming space. The Ethereum-based monster battling game exploded in popularity this summer, and now the project is rewarding its early supporters by airdropping some $60 million w" New post on Crypto Breaking News Ethereum Game Axie Infinity Rewards Early Players With $60M AXS Airdrop by Crypto Breaking News Axie Infinity has quickly become the biggest player in the burgeoning crypto gaming space. The Ethereum-based monster battling game exploded in popularity this summer, and now the project is rewarding its early supporters by airdropping some $60 million worth of governance tokens as a new staking feature rolls out. Today, developer Sky Mavis announced that it has launched the long-awaited staking capability, which lets AXS holders lock the governance token within the network in exchange for gradual rewards. A governance token is essentially a type of crypto token that grant its holders certain rights and privileges. During the first month, Axie plans to give out 2 million AXS worth of staking rewards, or about $150 million worth at the token's current value. As part of this new staking push, Axie Infinity will hand out 800,000 AXS tokens today to players who were part of the community as of a snapshot taken on October 26, 2020—well before the game's recent surge. The amount of tokens each user receives depends on factors such as number of monster and land plot NFTs owned, battles won, and marketplace activity. Funds will be deposited today to eligible Axie users—about 10,000 in total—via their wallet on Ronin, a custom-built Ethereum sidechain that launched earlier this year to minimize transaction fees and network congestion. Longtime Axie players who haven't yet linked a Ronin wallet to their Ethereum wallet can still claim the AXS airdrop. AXS staking is live! • Stake AXS here: https://t.co/N3uHT9Lx9b • Staking guide: https://t.co/s7fyKJ93cw • We are distributing AXS tokens to our founding community member's Ronin wallets based on the snapshot taken on October 26th, 2020. Full article: https://t.co/JxScs9PHLh pic.twitter.com/qI6vD7PcNW — Axie Infinity (@AxieInfinity) September 30, 2021 According to a post from Sky Mavis, the $60 million airdrop is a gift to "missionaries that helped form the bedrock of our digital nation." The AXS token was launched in November 2020 as a part of a progressive decentralization push for Axie Infinity, and holders will eventually be able to vote on future game and community-based proposals. Axie Infinity is now the biggest NFT project of all time, in terms of total trading volume, with nearly $2.2 billion in total NFT sales to date per data from CryptoSlam. An NFT is effectively a receipt for a provably scarce digital item, and while the wider market boom has included things like digital artwork, avatars, and video files, Axie's NFTs are interactive video game items such as creatures and terrain. Amid the game's summer surge in attention and activity, the AXS token skyrocketed in price. It began 2021 worth just $0.59 per token, according to CoinGecko, and reached an all-time high of nearly $94 earlier this month. As of this writing, one token is worth about $75. Axie Infinity has more than 1.8 million daily active users, per data from Sky Mavis. Sky Mavis co-founder and Growth Lead Jeff Zirlin recently spoke to Decrypt about the game's rapid rise in demand. He also shared details about upcoming enhancements and features such as a new battle system, land-based gameplay, and free starter Axies to let players try the game before investing potentially hundreds of dollars' worth of ETH on NFT monsters. Axie Infinity Has Sold $2 Billion Worth of Ethereum NFTs. Here's What's Next Zirlin also shared the project's plans to tap into a war chest of AXS tokens—nearly $4 billion worth—to expand the game's "play-to-earn" premise and entice new users to join the community in the coming years. He believes that the funds will be "a growth catalyst on a different level than Ronin," which Sky Mavis cites as a key reason for the game's recent rise. Source: Decrypt.co Crypto Breaking News | September 30, 2021 at 5:30 pm | Categories: News | URL: https://wp.me/papzAO-pVD Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/ethereum-game-axie-infinity-rewards-early-players-with-60m-axs-airdrop/

Crypto Breaking News posted: "The Commodity Futures Trading Commission (CFTC) has charged 14 trading platforms that claim to offer crypto-related investments but have either failed to register with the CFTC or falsely claimed to be registered. These websites also exhibit other signs o" New post on Crypto Breaking News CFTC Charges 14 Trading Platforms Offering Crypto-Related Investments by Crypto Breaking News The Commodity Futures Trading Commission (CFTC) has charged 14 trading platforms that claim to offer crypto-related investments but have either failed to register with the CFTC or falsely claimed to be registered. These websites also exhibit other signs of being scams. 14 Entities Charged by CFTC After charging major cryptocurrency exchange Kraken, the Commodity Futures Trading Commission (CFTC) has now gone after trading platforms claiming to offer crypto-related investments. The CFTC announced Wednesday that it has "filed charges against 14 entities for either failing to register as futures commission merchants (FCMs) or else making false and misleading claims of having CFTC registration and National Futures Association (NFA) membership." Most of the 14 trading platforms exhibit signs of scams, such as using identical websites, asking users to pay to join the platforms before they can start trading, claiming to be regulated, and guaranteeing huge returns. For example, some of the 14 websites display this message: "Earn huge return on investment. With our professional team of traders, you are guaranteed of your earnings." The derivatives watchdog detailed: Twelve of the complaints allege that the entities are acting as FCMs by offering to the general public the opportunity to purchase binary options based off the value of commodities like foreign currencies and cryptocurrencies including bitcoin. These platforms "encourage customers to transfer money or assets to them," but none of them have registered as an FCM, the regulator said. Among the 12 platforms, Tradingforexpay, Bitfxprofit, Globalnationfx, Binancefxtrade, Maxforexoption, and Excotradeoptions have almost identical websites. Three more — Cryptofxtrader, Smarter Signals, and Prime Expert Trade — look nearly identical. Procryptominners' website is now offline. Two other platforms are Profx-Capitals and Star Fx Pro. Besides the 12 platforms, the CFTC states that Climax Capital FX and Digitalexchange24.com "offer services related to trading in futures or other derivative products and falsely claim to be registered with the CFTC and a member of NFA." The two platforms' websites also look very similar, each stating that it "offers a variety of services to its customers in connection with trading forex and cryptocurrencies like bitcoin that are commodities in interstate commerce." The CFTC detailed: "Each complaint seeks orders directing the entities to cease and desist from committing violations of the Commodity Exchange Act and CFTC regulations as charged." Division of Enforcement Acting Director Vincent McGonagle commented: Today's actions reflect the CFTC's dedicated efforts to aggressively root out bad actors falsely claiming to hold legitimate registrations and protect the trading public. What do you think about the CFTC going after these trading platforms? Let us know in the comments section below. Source: Bitcoin.com Crypto Breaking News | September 30, 2021 at 5:30 pm | Categories: News | URL: https://wp.me/papzAO-pVz Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/cftc-charges-14-trading-platforms-offering-crypto-related-investments/

Crypto Breaking News posted: "Bitcoin Depot's cryptocurrency ATM network continues to expand, with North American installations surpassing 5,000 for the first time amid a surge in retail adoption. With the milestone, Bitcoin Depot is once again the largest ATM network in North Am" New post on Crypto Breaking News Bitcoin Depot's crypto ATMs surpass 5,000 as adoption grows by Crypto Breaking News Bitcoin Depot's cryptocurrency ATM network continues to expand, with North American installations surpassing 5,000 for the first time amid a surge in retail adoption.  With the milestone, Bitcoin Depot is once again the largest ATM network in North America, the company announced Thursday. The number of kiosks has tripled in the last six months, giving more users access to cryptocurrency transactions without requiring a bank or other third-party financial services provider. Bitcoin Depot's partnership with Circle K convenience stores has been a major source of growth for their crypto kiosks. As Cointelegraph reported, the two companies announced in July that the convenience store chain will be home to thousands of Bitcoin ATM machines. The growth of crypto kiosks is viewed by many as a proxy for retail adoption of Bitcoin (BTC) and other digital assets. Crypto ATM installations have surged in El Salvador, where Bitcoin recently became legal tender, giving people an easier way to transact in BTC or convert it to fiat. Salvadorans are also making use of their government-backed Chivo cryptocurrency wallet. According to President Nayib Bukele, more than a third of the country's residents are "actively" using Chivo. Related: El Salvador ranks third in global Bitcoin ATM installations, data finds Nevertheless, the growth of Bitcoin ATMs isn't without risk. Kraken Security Labs, the security outfit of the popular cryptocurrency exchange, warned earlier this week that a "large number" of Bitcoin ATMs are susceptible to being hacked because administrators never changed the default admin QR code. The security team said that if hackers are able to obtain the admin code they can essentially "walk up to an ATM and compromise it." Source: Cointelegraph.com Crypto Breaking News | September 30, 2021 at 5:30 pm | Categories: News | URL: https://wp.me/papzAO-pVB Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/bitcoin-depots-crypto-atms-surpass-5000-as-adoption-grows/

Crypto Breaking News posted: "Canadian exchange-traded funds (ETF) provider Evolve Funds Group has launched the country's first multi-crypto ETF on the Toronto Stock Exchange, the Evolve Cryptocurrencies ETF. Trading under the tickers ETC (CAD Unhedged Units) and ETC.U (USD Unhedged U" New post on Crypto Breaking News Canada Gets Its First Multi-Crypto ETF Pegged to Both Bitcoin and Ethereum by Crypto Breaking News Canadian exchange-traded funds (ETF) provider Evolve Funds Group has launched the country's first multi-crypto ETF on the Toronto Stock Exchange, the Evolve Cryptocurrencies ETF. Trading under the tickers ETC (CAD Unhedged Units) and ETC.U (USD Unhedged Units), the Evolve Cryptocurrencies ETF will initially invest in Bitcoin ETF ("EBIT") and Ether ETF ("ETHR"). An ETF is a type of security that is pegged to various assets (or baskets of them), shares of which can be listed and traded on exchanges. In the case of a crypto ETF, the underlying assets are cryptocurrencies. In this way, crypto ETFs allow institutional investors to gain exposure to digital assets without actually buying or holding them. Despite initially thinking that the Evolve Cryptocurrencies ETF was the first multi-crypto ETF in the world, Raj Lala, president and CEO of Evolve, told Wealth Professional that he received a message from a Brazilian issuer correcting the misconception. "There may be a couple in other parts of the world, but I know for a fact it's Canada's first, and I think it would also be North America's first," he said. Canada races ahead of the U.S. While four Bitcoin ETFs—the Purpose Bitcoin ETF, Evolve Bitcoin ETF, CI Galaxy Bitcoin ETF, and 3iQ CoinShares Bitcoin ETF—have already been launched in Canada since February, Evolve's 200 million CAD ($157 million) multi-crypto ETF stands out among them since it comprises both Bitcoin and Ethereum, Lala said. "Even though these two cryptocurrencies are somewhat correlated to each other, they've had different return profiles," he noted. "So, by putting them into one ETF and accessing both at the same moment, you're taking out some of the guesswork." These Are The High-Profile Bitcoin ETF Applications Currently In Play He added that such diversified funds allow investors "to dampen some of that volatility and hopefully capitalize on the cryptocurrency that's significantly outperforming the other." Although Canada now has several crypto ETFs up and running, the U.S. has lagged behind. Despite receiving numerous Bitcoin ETF applications over the past few years, the Securities and Exchange Commission has yet to approve a single one of them. Those who've put their hat in the ring include VanEck, Valkyrie Investments, the New York Digital Investment Group and Stone Ridge and WisdomTree. SEC chair Gary Gensler has hinted that he would favor a Bitcoin futures ETF rather than one backed by physical Bitcoin. Source: Decrypt.co Crypto Breaking News | September 30, 2021 at 5:14 pm | Categories: News | URL: https://wp.me/papzAO-pVx Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/canada-gets-its-first-multi-crypto-etf-pegged-to-both-bitcoin-and-ethereum/

Crypto Breaking News posted: "Join Cointelegraph host and analyst Benton Yaun alongside resident market experts Jordan Finneseth and Marcel Pechman on "The Market Report" — which is live right now! Here's what to expect in this week's markets news breakdown:Next, trader Gareth So" New post on Crypto Breaking News BTC holds crucial support at $40K! | Watch The Market Report with Gareth Soloway by Crypto Breaking News Join Cointelegraph host and analyst Benton Yaun alongside resident market experts Jordan Finneseth and Marcel Pechman on "The Market Report" — which is live right now! Here's what to expect in this week's markets news breakdown: Next, trader Gareth Soloway joins the show to discuss the recent correlation between BTC and the stock market, his sentiments toward the current market situation, and his analysis of BTC price action. Cointelegraph market analyst Pechman then gives a detailed explanation of hash rates, which are the measure of the processing power behind a network's mining. What does 100 exahashes per second actually mean, and how does Bitcoin compare to other networks? Using insights from Cointelegraph Markets Pro, a platform for crypto traders who want to stay one step ahead of the market, the Cointelegraph experts identify two altcoins that stood out this week: CELO and RGT. Then it's on to the show's second expert take, this one from Cointelegraph market analyst Finneseth. He gives his insights on how the China ban will impact decentralized exchanges and the decentralized finance (DeFi) ecosystem. Last is the interactive Q&A segment of the show. If you have a crypto-related question and can't find the answer, then this segment is for you! Simply write your question in the chat, and the Cointelegraph experts will break it down for you! "The Market Report" streams live every Thursday at 4:00 pm UTC, so be sure to head on over to Cointelegraph's YouTube page, and smash that like and subscribe button for all our future videos and updates. Source: Cointelegraph.com Crypto Breaking News | September 30, 2021 at 5:00 pm | Categories: News | URL: https://wp.me/papzAO-pVv Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/btc-holds-crucial-support-at-40k-watch-the-market-report-with-gareth-soloway/

Crypto Breaking News posted: "Cryptocurrency exchange Binance has hired a former United States Internal Revenue Service agent to head its new intelligence division, a strong indication that the company is looking to bolster its compliance resources.Tigran Gambaryan joins Binance as vi" New post on Crypto Breaking News Binance hires former IRS-CI special agent to head intelligence division by Crypto Breaking News Cryptocurrency exchange Binance has hired a former United States Internal Revenue Service agent to head its new intelligence division, a strong indication that the company is looking to bolster its compliance resources. Tigran Gambaryan joins Binance as vice president of global intelligence and investigations, the company announced Thursday. Binance is Gambaryan's first private-sector employer since he joined the IRS as a special agent in September 2011. During his time at the IRS, Gambaryan investigated cases involving national security, terrorism financing, tax evasion and identity theft. He was also involved in the investigation of Silk Road, a dark web marketplace that facilitated some of the earliest cryptocurrency transactions. Silk Road was shut down by the FBI in October 2013, with founder Ross Ulbricht arrested and eventually sentenced to a double life sentence plus 40 years with no possibility of parole. At Binance, Gambaryan will be tasked with conducting internal and external investigations "to prevent threats and financial losses." The audit and investigations team will also work closely with law enforcement agencies and regulators. Binance appears to be stepping up its compliance measures in response to regulatory upheaval from around the globe. The exchange has been forced to suspend operations and trading services in several markets, including Japan, the United Kingdom, Germany and the Canadian province of Ontario, for allegedly failing to comply with local licensing laws. Related: Binance pushes back against warning from South Africa regulator More recently, Binance moved to block fiat deposits and spot crypto trading services in Singapore amid regulatory pressures. The exchange also ceased crypto futures and options in Australia. Source: Cointelegraph.com Crypto Breaking News | September 30, 2021 at 4:45 pm | Categories: News | URL: https://wp.me/papzAO-pVt Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/binance-hires-former-irs-ci-special-agent-to-head-intelligence-division/

Crypto Breaking News posted: "While there's a lot of hype surrounding digital currencies like bitcoin, a great number of people are still confused by the crypto economy and the myriad crypto assets that exist. One study shows that some people think Ethereum is a drug, while oth" New post on Crypto Breaking News Survey Shows 64% of Britons Believe Crypto Is 'Not a Safe Investment,' Respondents Think Ethereum Is a Drug, Cardano Is Cheese by Crypto Breaking News While there's a lot of hype surrounding digital currencies like bitcoin, a great number of people are still confused by the crypto economy and the myriad crypto assets that exist. One study shows that some people think Ethereum is a drug, while others think Cardano is a cheese. Traders of Crypto Surveys Hundreds of Britons, Researchers Parse 12 Months of Crypto Query Data A recent study published by the researchers at tradersofcrypto.com combed through the most-searched questions that could be entered into Google Keyword Planner in order "to discover how many searches each question received." The researchers scanned data over the last 12 months using results from the U.S. and U.K. to rank the most-asked questions to the least. The results produced a data set which attempts to explain "the most common cryptocurrency questions." Tradersofcrypto.com's researchers also surveyed "hundreds of members of the British public" to get the answers to the crypto questions. The statistics show that less than 1 in 4 individuals think that a cryptocurrency will ever become legal tender. "The vast majority of the British public were unconvinced, with 75.7% responding "no." The ones that did believe crypto could become legal tender assumed it would happen over the next decade. "The largest portion of 'yes' responders (9.8%) believed that this would happen in as little as five years' time," the study notes. The researcher's study continues by adding that despite the recent bull run, 64.6% of those polled did not believe crypto was a "safe investment." 22% have "no idea" what crypto is and 21% replied that crypto assets are "digital currency," "online money," or "virtual money." "1 in 4 have no idea what Dogecoin is," the study details. "1 in 2 admit they're not sure what Binance Coin is." The research report adds: 3.6% of survey respondents believe that Cardano is a cheese or alcoholic drink. 3.4% of survey respondents believe Ethereum is a drug. Close to a Billion Searches for the Term Cryptocurrency, Interest in Crypto Is Booming The researchers further explain that across 12 months in the U.K. and U.S. there have been approximately 9,269,000 searches for "cryptocurrency." The study revealed the most searched phrase with the term was "best cryptocurrency" with 502,200 searches, followed by "what cryptocurrency to mine" and "how to buy cryptocurrency," with 406,000 and 306,540 respectively. "Questions about crypto experienced significant increases in search volume across the board," the study concludes. "This booming interest in the crypto market suggests that cryptocurrency is turning more mainstream than ever, and will become a staple of the future investment landscape." What do you think of the study about crypto confusion and the number of searches this past year? Let us know what you think about this subject in the comments section below. Source: Bitcoin.com Crypto Breaking News | September 30, 2021 at 3:30 pm | Categories: Bitcoin, Cryptocurrency, Ethereum, News | URL: https://wp.me/papzAO-pVr Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/survey-shows-64-of-britons-believe-crypto-is-not-a-safe-investment-respondents-think-ethereum-is-a-drug-cardano-is-cheese/

Crypto Breaking News posted: "The Chinese crackdown on mining activities has awakened a lot of decisions and actions. Many miners are already trooping to the US, the new mining hub, to continue their operations. Recently, the NDRC (National Development & Reform Commission) in Chin" New post on Crypto Breaking News China's Ban On Crypto-Assets Forces Huobi Mining Pool To Rotate 100k Bitcoin by Crypto Breaking News The Chinese crackdown on mining activities has awakened a lot of decisions and actions. Many miners are already trooping to the US, the new mining hub, to continue their operations. Recently, the NDRC (National Development & Reform Commission) in China seized more than 10,000 mining rigs in Inner Mongolia. The report even disclosed that the operation was the 45th time that the watchdog has carried such out. Given the losses that miners incur in the wake of these incidents, many forward-thinking companies are protecting their interests. One of such companies to take proactive action is Huobi Global, a crypto exchange with millions of users, including Chinese citizens. The first step the company took was to restrict the Chinese citizens on its platform. Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course Now, mainland china residents can no longer access the platform. As a result, Huobi Global is currently moving funds to fill the withdrawal needs of the clients. Also, it plans to stop all Chinese accounts gradually until December 31. Miners Move Bitcoin To Support Withdrawal Needs Huobi Global is occupying the eighth position amongst the largest Bitcoin Pools. However, now that they've restricted Chinese citizens, the miners have to move their funds worth $4.21 Billion to meet the withdrawal needs. Bitcoin is now gradually recovering its previous losses | Source: BTC/USD on TradingView.com Apart from this Bitcoin fund movement, there were massive movements from Ethereum wallets on September 26, amounting to 800,000 ETH or $2.29 billion from ETH whales. Related Reading | Miner Refunds The Giant Sum Of 7,626 Ethereum Mistakenly Sent By Bitfinex The crackdown from the Chinese government is causing havoc in many pools as many exchanges are no longer allowing new entrants. The Huobi Global exchange is amongst the exchanges affected by this development. Featured Image by Pexels - Charts by TradingView Source: NewsBTC.com Crypto Breaking News | September 30, 2021 at 3:10 pm | Categories: Bitcoin, News | URL: https://wp.me/papzAO-pVp Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/chinas-ban-on-crypto-assets-forces-huobi-mining-pool-to-rotate-100k-bitcoin/

Crypto Breaking News posted: "Binance, the world's biggest cryptocurrency exchange, announced on Wednesday that it has hired a pair of IRS sleuths to help it improve compliance. The hires are part of a larger push to reform the company's reputation as a scofflaw that has brought atten" New post on Crypto Breaking News Binance Hires IRS Agent Who Helped Crack Silk Road Case by Crypto Breaking News Binance, the world's biggest cryptocurrency exchange, announced on Wednesday that it has hired a pair of IRS sleuths to help it improve compliance. The hires are part of a larger push to reform the company's reputation as a scofflaw that has brought attention from regulators around the world. In a news release, Binance said it has appointed former IRS special agent Tigran Gambaryan as VP of global intelligence and investigations, while another special agent, Matthew Price, will become the company's senior director of investigations. The Russian-born Gambaryan, who began his IRS career at the Oakland expert, is a blockchain expert well known in crypto law enforcement circles. His most profile accomplishment was uncovering the identity of a corrupt DEA agent who stole millions in Bitcoin from Ross Ulbricht, aka the Dread Pirate Roberts, who ran the notorious Silk Road drug marketplace. Silk Road's Ross Ulbricht Shares Vision for Decentralized Social Media Gambaryan was also instrumental in investigating the 2014 hack of Mt. Gox, which devastated the crypto industry, and in bringing down BTC-e, a Russian exchange that served a variety of criminal enterprises. Price is likewise well-versed in crypto, having led the IRS's investigation into Helix, a Bitcoin tumbler whose CEO recently pled guilty to charges related to money laundering. The hiring of the two agents from the IRS, which is known as a tax agency but also runs a sophisticated law enforcement operation, is likely to help Binance unearth illicit activity on its platform—activity to which critics say the exchange has turned a blind eye until recently. The appointments of Gambaryan and Price come shortly after Binance announced the hiring of a dark web specialist from the law enforcement agency Europol and of a compliance director from trading giant eToro. Meanwhile, Binance recently declared that all of its customers must comply with "know your customer" rules, and appointed a president with a background in the traditional corporate world. All of this sends a signal that Binance and its maverick CEO, Changpeng Zhao, are making a serious effort to assure regulators that the exchange has turned a corner and is determined to take compliance more seriously. Despite this, Binance may still have its work cut out for it. As Decrypt has previously reported, the company is facing investigations in numerous countries, including the Netherlands, Japan, Malaysia, Italy, and the United States. It's also likely there are other probes that haven't yet been publicized. The spate of recent hires, including the IRS agents, could help Binance ensure that it complies with the rules of various jurisdictions but will not solve the problem of any earlier transgressions that may exist—transgressions that could be the subject of large fines or, worse, orders to force it to stop operating. Binance clearly believes it can make a fresh start with regulators, and it has the money to hire high profile former regulators, but it remains to be seen if it can solve its legal woes, or if the recent initiatives will come to be seen as too little too late. Source: Decrypt.co Crypto Breaking News | September 30, 2021 at 3:01 pm | Categories: News | URL: https://wp.me/papzAO-pVn Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/binance-hires-irs-agent-who-helped-crack-silk-road-case/

Crypto Breaking News posted: "An on-chain study released by Kraken Intelligence highlighted strong accumulation behavior among Ethereum miners even as they faced the prospects of generating lower revenue following a major network upgrade on Aug. 5, 2021.Ethereum miners accumulated an " New post on Crypto Breaking News Ethereum miners are hoarding a record $70B in ETH following EIP-1559 activation by Crypto Breaking News An on-chain study released by Kraken Intelligence highlighted strong accumulation behavior among Ethereum miners even as they faced the prospects of generating lower revenue following a major network upgrade on Aug. 5, 2021. Ethereum miners accumulated an additional 2 million Ether (ETH) worth $6.1 billion after the so-called London Hard Fork's activation. The latest bout of accumulation caused miners' net Ether holdings to hit an all-time high of 22.3 million ETH (worth nearly $70 billion), which is almost 19% of the total Ether supply. "ETH accumulation was stagnant for most of the summer before picking up speed in July in spite of ETH price trending lower," the Kraken report read. "However, ETH accumulation amongst miners really took off after EIP-1559 as they likely saw the disinflationary effects of the upgrade to drive up price." Ethereum miner supply. Source: Kraken Intelligence, Coin Metrics Miners snub EIP-1559 FUD EIP-1559, which went live alongside the London Hard Fork on Aug. 5, divided transaction fees (chargeable via native token ETH) into two parts: Base Fee and Priority Fee. The network started charging base fees to add transactions to the Ethereum blocks. Meanwhile, it introduced priority fees—or voluntary tips—that Ethereum users pay to miners to speed up transactions. But EIP-1559 changed the way Ethereum's token economy works by introducing a fee-burning mechanism. In doing so, the improvement proposal started burning the base fee, thereby making ETH a disinflationary asset by permanently removing a part of its supply out of circulation. Burning a portion of total fee collection would also mean a drop in revenue for Ethereum miners. As a result, EIP-1559's launch sparked warnings about lower mining profitability, with one study finding that miners' revenue dropped by 15% right after EIP-1559 went live. But that didn't deter the miners from raising their exposure in the Ethereum market, insofar that ETH's hash rate reached a record high of 736.67 terra-hash per second (TH/s) on Sept. 23. Ethereum network hashrate performance in the last 12 months. Source: YCharts That is despite a drop in Ethereum mining activity following China's crypto crackdown in May, which later led the hash rate to a three-month low of 477.54 TH/s. Kraken wrote: "This tells us that not only was the reaction to the China crackdown exaggerated, but miners also view the latest upgrade as an overall boon for ETH that outweighed the con of its miner reward reduction." NFT boom, staking sentiment behind the mining boom Ethereum miners survived the EIP-1559 FUD primarily due to rising ETH prices and high network demand led by a boom in the nonfungible token (NFT) space. Kraken noted that miner revenue reached a near four-month high of $70 million on Sept. 7, rising 27% a month after the Aug. 5 upgrade as "NFT activity in projects such as PALS, Loot, and Junkies likely pushed priority fees higher." Ethereum miner revenue. Source: Kraken Intelligence, Coin Metrics But a recent slump in the NFT sector, led by strong corrections in the number of its daily active users (-23%), trading volume (83%), and transaction count (-31%), also pushed the miner revenue down. Nonetheless, the amount of ETH held by miners surged to its highest level to date, prompting Kraken to deduce that they were accumulating and mining Ether tokens to become validators on the upcoming Ethereum proof-of-stake chain, dubbed Ethereum 2.0. Users need to stake 32 ETH into Ethereum 2.0 smart contracts to become validators on its network. In response, they may earn up to a 5% annual percentage rate. As of Sept. 29, ETH 2.0 had attracted 7.813 million ETH worth $2.85 billion by 48,780 unique depositors, as per data provided by CryptoQuant. Related: Ethereum balance on crypto exchanges hits new lows as ETH price retakes $3K Meanwhile, as more Ether tokens go out of actively supply due to staking and EIP-1559 activation, the prospect of holding ETH might appear profitable for miners due to classic supply-demand model.  With EIP 1559 #ethereum supply will likely peak around 120 million, after which it will go down and down and down, meanwhile demand will be rising. Pretty sure that means the number will go up. — Lark Davis (@TheCryptoLark) September 24, 2021 Ether was trading at $3,006 at the time of writing, up more than 300% year-to-date. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. Source: Cointelegraph.com Crypto Breaking News | September 30, 2021 at 2:45 pm | Categories: Ethereum, News | URL: https://wp.me/papzAO-pVj Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/ethereum-miners-are-hoarding-a-record-70b-in-eth-following-eip-1559-activation/

Crypto Breaking News posted: "Billionaire investor Chamath Palihapitiya, chairman of spaceflight company Virgin Galactic and owner of NBA team the Golden State Warriors, has argued that Bitcoin has "effectively replaced gold." "It's very hard for me sitting here to give you a price pr" New post on Crypto Breaking News Billionaire Investor Chamath Palihapitiya: 'Bitcoin Has Effectively Replaced Gold' by Crypto Breaking News Billionaire investor Chamath Palihapitiya, chairman of spaceflight company Virgin Galactic and owner of NBA team the Golden State Warriors, has argued that Bitcoin has "effectively replaced gold." "It's very hard for me sitting here to give you a price prediction, but I can pretty confidently say that Bitcoin, I think, has effectively replaced gold," Palihapitiya opined, speaking to CNBC's Scott Wapner at the Delivering Alpha conference on Wednesday. He added that, "it will continue to do so. And so that market cap is just going to grow." Beyond Bitcoin Bitcoin isn't the be-all and end-all for Palihapitiya, though. "For the first time, I think we're seeing the initial versions of the solution that we thought Bitcoin was supposed to be," he told Wapner. "Smart contracts, better savings accounts, better insurance, better credit scoring." That, he said, is happening through decentralized finance (DeFi) platforms "being built on Ethereum and Solana." "For the first time, I think we're seeing the initial versions of the solution that we thought Bitcoin was supposed to be." Nevertheless, Palihapitiya's focus remains primarily on Bitcoin, with the billionaire stating that he has only put a "small capital" outside of the biggest cryptocurrency. Though what he considers "small" might raise eyebrows. "I haven't put a lot of money outside of Bitcoin obviously," Palihapitiya explained. "You know, tens of millions, hundreds of millions—like small capital right now. It could get very big. But irrespective of what I do, I will say we all need to pay attention to it because I think the implications are enormous." Stating that he's "very concerned about medium-term inflation," Palihapitiya argued that he wants to own three things: hyper-growth assets, such as companies that are growing over 50% a year, cash generative assets, such as mining stock, and non-correlated assets. In the latter category, he placed "Bitcoin, Solana, DeSo [decentralized social media], a lot of the DeFi protocols because it's a great counterintuitive hedge against all of this stuff." 'Very hard to kill' Still, investing money in crypto could be a risky proposition, especially as regulators around the world have been breathing heavily down Bitcoin's neck lately. For example, the U.S. Securities and Exchange Commission's chairman Gary Gensler has recently reiterated that cryptocurrencies are a "highly speculative" asset class. This is Bitcoin's moment, says Virgin Galactic chairman Asked about Ray Dalio's recent comments on regulators potentially "killing" Bitcoin if it becomes really successful, Palihapitiya said it would be "very difficult." "I think it's very hard to kill. So technically, it's very difficult. Just the way that it's architected, it is the most profound iteration of the Internet that we've seen," Palihapitiya argued. "[Bitcoin] is the most profound iteration of the Internet that we've seen." As for the current iteration of the Internet, Palihapitiya argued that its biggest problem is that it's dominated by a handful of Big Tech companies. The emerging Web 3 space, taking in cryptocurrencies, DeFi, and decentralized autonomous organizations (DAOs), promises to change all that, however. Web 3, said Palihapitiya, "is rebuilding all of that stuff without an obvious leader. It's completely headless. It's entirely peer-to-peer. And I think that that's both scary and exhilarating." Main image by Christopher Michel licensed under CC-BY-SA-4.0   Source: Decrypt.co Crypto Breaking News | September 30, 2021 at 2:37 pm | Categories: News | URL: https://wp.me/papzAO-pVl Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/billionaire-investor-chamath-palihapitiya-bitcoin-has-effectively-replaced-gold/

Crypto Breaking News posted: "In a series of  recent interviews and speeches, United States Securities and Exchange Commission Chairman Gary Gensler has called the cryptocurrencies market the "Wild West" due to its unregulated and allegedly fraud-filled atmosphere, predicting tha" New post on Crypto Breaking News Powers On… Don't worry, Bitcoin's adoption will not be stopped by Crypto Breaking News In a series of  recent interviews and speeches, United States Securities and Exchange Commission Chairman Gary Gensler has called the cryptocurrencies market the "Wild West" due to its unregulated and allegedly fraud-filled atmosphere, predicting that the coins were doomed to fail. Powers On… is a monthly opinion column from Marc Powers, who spent much of his 40-year legal career working with complex securities-related cases in the United States after a stint with the SEC. He is now an adjunct professor at Florida International University College of Law, where he teaches a course on "Blockchain, Crypto and Regulatory Considerations."  In a Washington Post interview published Sept. 21, Gary Gensler stated that in history,  "private currencies" did not have longevity. As discussed below, I take issue with that statement. Now five months into his role leading this important governmental agency, Gensler is not only a powerful voice in the debate around blockchain use cases and regulatory considerations but also a dangerous one. The concern for the crypto industry is that Gensler is a very bright and determined man, as well as ambitious. He hails from Wharton, Goldman Sachs and formerly worked in the U.S. Treasury before becoming the Chair of the Commodities Futures Trading Commission (CTFC), the SEC's sister agency. While at the CFTC, he led what was probably the only federal agency to create and implement all the requirements of the Sarbanes-Oxley Act of 2002. Not all that surprising, as his bio also includes acting as a Special Adviser to the co-author of that legislation Senator Paul Sarbanes.  I had the honor of knowing and working with the other co-author of that historic legislation Congressman Mike Oxley while at my law firm, BakerHostetler. Mike led our Government Affairs practice while I led our National Securities Litigation & Regulatory Enforcement practice. The two-edged sword Given this broad experience both in and out of our government, Gensler knows how to get things done politically. He also in recent years has learned and taught at the Massachusetts Institute of Technology (MIT) courses on blockchain.  SEC Chairman @GaryGensler on #Bitcoin  pic.twitter.com/jhqkbZrnob — Documenting Bitcoin 📄 (@DocumentingBTC) August 3, 2021 As I have said or suggested in prior columns, this is a two-edged sword. On the one hand, it is good to have someone in government who understands the technology and its beneficial use cases. On the other hand, his smarts can be used to find ways to serve the interests and politics of the Biden Administration, which with Federal Reserve Chair William Powell and Treasury Secretary Janet Yellen decidedly antagonistic to cryptocurrencies, the three of them can implement rules and policies that could harm the technology's advancement and adoption.  It will only get worse if there is the appointment of Saule Omarova to head the Office of the Comptroller of the Currency, as she has publicly come out against the use of digital assets. That would also be quite a reversal from the policy of her immediate predecessor, Brian Brooks. Brooks in the waning days of the Trump Administration proposed rules and guidelines which allowed federal banks the freedom to house and custody digital assets for clients. Let's see how long this hawkish Omarova takes to unwind this. The pros and cons of Bitcoin adoption  At one level, you can not blame them for being against Bitcoin's (BTC) adoption as an alternative digital currency, or medium of exchange, to the physical U.S. dollar. Its use worldwide without any government oversight or intervention frightens them, and it could diminish, over time, the dominance of the U.S. dollar as the reserve currency for the globe. They have the status quo of large financial institutions and intermediaries to preserve and protect. They are relatively long-time government fixtures and they clearly believe in our government controlling things. Whenever they adopt rules and policies which impede our activities or seek to regulate them, they always claim it is for our own good, such as to protect us from rampant fraud or harm and for the good of our economy, protecting us from economic depression or inflation. But we know better, don't we? On the other hand, the good news for those of us that believe in the promise of distributed ledger technology is that it is, in my opinion, too late. The way BTC, Ether (ETH) and other cryptocurrencies travel digitally from country to country worldwide is beyond one country's regulation, including the United States of America.  That's right, let me say it again: It is too late. One country can not kill it by banning its use and activities, nor can one country regulate its use by world citizens in an effort to control BTC and its citizens. Bitcoin is now a world currency that is owned and controlled by no country nor group of currencies. It is owned by the world's citizens. Need proof of what I say? Look at China, which has banned activities in cryptocurrencies several times over the past years, although not possession of the token. Now, it is again banning mining and trading. Has that accomplished the demise of BTC? No. Instead, the mining industry has moved to Eastern Europe and the United States.  Look at South Korea, which required all crypto exchanges to register with its regulatory body by this past week. Dozens have not.  Look at India, which also banned the use of BTC, until its Supreme Court reversed that law. Today, it is reported by an August analysis by Chainanalysis that India now ranks number two in the world in crypto adoption. Crypto is the inevitable   I have been saying since 2017 that I believe we will, in time, have a dual financial system and economy. There will be a crypto world economy and a parallel fiat digital currency in the form of  central banks digital currencies, or CBDCs, like what Powell is working on at the Federal Reserve and what China has already rolled out to its citizens in major cities, called the digital yuan. Accordingly, I take issue with the SEC's Chair's history lesson when he says private currencies do not last, implying the same will be true for BTC. I don't agree with his characterization. I don't see BTC as a "private" currency. To the contrary, it is a world currency, very public and available to anyone with a smartphone or a computer. It is not created by a private or permissioned blockchain, but rather on a permissionless one. While BTC is not a fiat currency created by a sovereign government, it is no less a medium of exchange for the millions of people who use it everyday worldwide to buy things, send to relatives in other jurisdictions and trade on its price movement. Just like currency traders' daily trade on the price movement of the U.S. dollar. When Gensler argues that BTC is not backed by anything, maybe he needs a lesson to be reminded that since 1971, the U.S.dollar is no longer backed by gold. Marc Powers is currently an adjunct professor at Florida International University College of Law, where he is teaching "Blockchain, Crypto and Regulatory Considerations" and "Fintech Law." He recently retired from practicing at an Am Law 100 law firm, where he built both its national securities litigation and regulatory enforcement practice team and its hedge fund industry practice. Marc started his legal career in the SEC's Enforcement Division. During his 40 years in law, he was involved in representations including the Bernie Madoff Ponzi scheme, a recent presidential pardon and the Martha Stewart insider trading trial. The opinions expressed are the author's alone and do not necessarily reflect the views of Cointelegraph nor Florida International University College of Law or its affiliates. This article is for general information purposes and is not intended to be and should not be taken as legal advice. Source: Cointelegraph.com Crypto Breaking News | September 30, 2021 at 2:08 pm | Categories: News, Opinion | URL: https://wp.me/papzAO-pVh Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/powers-on-dont-worry-bitcoins-adoption-will-not-be-stopped/

Crypto Breaking News posted: "DeFi automation protocol Gelato Network has raised $11 million in Series A funding.  Founded in Berlin in 2019, Gelato is a protocol that automates tasks on decentralized finance, or DeFi, which is a wide network of non-custodial financial services built " New post on Crypto Breaking News Gelato Network Raises $11M to Automate 'Dumb Contracts' on DeFi by Crypto Breaking News DeFi automation protocol Gelato Network has raised $11 million in Series A funding.  Founded in Berlin in 2019, Gelato is a protocol that automates tasks on decentralized finance, or DeFi, which is a wide network of non-custodial financial services built on smart contracts. Dragonfly Capital led the raise to help Gelato expand its automation offerings, with additional funding from ParaFi Capital, Nascent, IDEO CoLab Ventures, and Stani from Aave. Automation on DeFi sounds counterintuitive at first: how can you automate smart contracts if they are themselves self-executing bits of code?  "That's bullshit," Gelato co-founder Hilmar Orth told Decrypt. "Smart contracts are actually not smart; they're pretty dumb." If nobody executes commands that are defined in smart contracts, nothing will actually happen, he explained. "Every system that can be powered by smart contracts will be powered by the smart contracts." - Hilmar Maximilian Orth (@hilmarxo), Co-founder and Legendary Member of Gelato Network pic.twitter.com/X1aE7x9mF7 — Gelato (@gelatonetwork) September 13, 2021 If a DeFi protocol claims that it will compound the interest on your holdings every day, what usually happens is that there are bots running in the background that call the necessary function in the smart contract to make that happen. Most DeFi projects try to build and run these bots themselves. Gelato, powered by its token GEL, provides the infrastructure for developers to deploy those bots. So far it's available on Ethereum and Fantom blockchains as well as Ethereum layer-2 solutions Polygon and (soon) Arbitrium. Last month, Gelato released Cono Finance, the interface for bots that optimize debt payments on lending platform Aave. It helps prevent traders from getting "rekt" when they are close to liquidation. Since liquidations happen when a user's collateral-to-debt ratio falls below a certain level, Gelato's bots quickly rearrange a user's finances by selling some of their highest value collateral for the debt tokens owed to Aave—a task that can't be manually done as fast as a bot. Another widely-used Gelato service is Sorbet Finance, which lets DeFi traders place limit orders on Uniswap and Quickswap. Limit orders—the purchase or sale of a crypto asset when it hits a certain price—is common on centralized exchanges like Coinbase and Binance, but it's normally absent on decentralized finance.  With the NFT craze in full swing, Gelato bots are also used for functions related to the managing and minting of these crypto collectibles, Orth explained. "One day I saw a lot of transactions happening on Polygon and wondered, 'What is this?' Well, someone created a service called Gotchicare where you can basically task Gelato to automatically pet your Aavegotchi every 12 hours," he said. Aavegotchis are NFT collectibles presented in the form of pixelated ghosts, and their owners need to pet them—interact with its smart code—to maintain a high kinship score as part of the game. Over the last 2 days to get my sleep back I have trialed the @aavegotchi pet operator functionality with the @gelatonetwork to securely automate the petting of my gotchis. It has worked very well. If you are interested in a developer tutorial on how to do this like this tweet. https://t.co/KlQC8BdHV1 pic.twitter.com/VLRUDICFqr — AavegotchiStats (@GotchiStats) September 26, 2021 "I thought Gelatos would be used only for super complex interest-rate swaps or conditionally executing options, but then people use it to pet NFTs!" The co-founders initially built Gelato with end-users in mind rather than servicing DeFi developers as it now does The idea was to offer a decentralized version of the IFTTT app that lets people automate tasks without having to code anything. Gelato would automate the task of buying Ethereum every time Mark Cuban tweeted about it, as its whitepaper suggested. But the protocol has pivoted since then. "We realized it's a bit early to focus on end users. Not many users wanted to automate tasks," Orth said. The shift to servicing devs became obvious as a lot of developers reached out to Gelato to help them automate common tasks, such as sending out salaries every week. Aavegotchi's NFT Auction Pays Players for Being Outbid Gelato wants to be Web3's Amazon Web Services Lambda or Google Cloud Functions, which power some of the largest applications in Web2.  But a lofty goal like that requires many back-end engineers to offer a reliable service that is also permissionless and decentralized. The protocol will use the funds from this raise to expand its current team of 16 individuals. After all, bots can't write the code themselves... yet. Source: Decrypt.co Crypto Breaking News | September 30, 2021 at 2:01 pm | Categories: News | URL: https://wp.me/papzAO-pVd Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/gelato-network-raises-11m-to-automate-dumb-contracts-on-defi/

Crypto Breaking News posted: "According to the latest UN statistics, global money laundering transactions reach up to $2 trillion a year. A small fraction of that huge amount passes through the digital assets ecosystem, and responsible actors in it are working to bring that down even " New post on Crypto Breaking News How Binance Helps Legal Authorities Take Down Cybercriminals Laundering Illicit Funds by Crypto Breaking News According to the latest UN statistics, global money laundering transactions reach up to $2 trillion a year. A small fraction of that huge amount passes through the digital assets ecosystem, and responsible actors in it are working to bring that down even more. As the world's leading cryptocurrency exchange, Binance has especially taken it upon itself to protect the safety and security of the virtual finance world. Here is how it helps legal authorities to take down cybercriminals laundering money. Busting the $500 Million FANCYCAT Ring In June 2021, Binance announced to the public that its security team has taken part in an international investigation that resulted in busting a prolific cybercriminal ring. The company cooperated in the operation with authorities from around the world including Ukraine Cyber Police, Cyber Bureau of Korean National Police Agency, US Law Enforcement, Spanish Civil Guard, Swiss Federal Office of Police, and more. The cybergang, known as FANCYCAT, has been running multiple criminal activities: distributing cyber attacks; operating a high-risk exchanger; and laundering money from dark web operations and high-profile ransomware attacks. In total, legal authorities estimated that FANCYCAT was responsible for over $500 million worth of damages in connection with ransomware and millions more from other cybercrimes. Video of the arrests from Ukraine Cyber Police: Research found that in a majority of the cases associated with illicit cryptocurrency flows coming onto exchanges, the exchange is not harboring the actual criminal group themselves, but rather being used as a middleman to launder stolen profits. Understanding this diagnosis, the Binance security team applied a two-pronged approach to the FANCYCAT investigation. An AML detection and analytics program detected suspicious activity and expanded the suspect cluster, and once they mapped out the complete suspect network, Binance worked with private sector blockchain analytics companies to analyze on-chain activity. Based on this, Binance found that the group was not only associated with laundering ransomware attack funds, but other illegally-sourced funds. This led to the identification and eventual arrest of FANCYCAT. Binance's Bulletproof Exchanger Project In August 2020, Binance announced to the public that suspicious activity detected and analyzed by its team led to the identification and arrest of a cybercriminal organization responsible for a ransomware campaign and the laundering of more than $42 million in cryptocurrencies over the previous two years. Binance took part in that operation in collaboration with the Cyber Police of Ukraine. This development came after Binance allocated extra resources in early 2020 for its security researchers to probe the ways criminals were laundering money through "Bulletproof Exchangers" – cryptocurrency platforms often serve as the cash-out points for cryptocurrency operations connected to financial crimes and other fraud. Bulletproof Exchangers are well-known for their lenient know-your-customer (KYC) and anti-money laundering (AML) policies. Data analysis showed that these exchangers, which are often based in regions with a lack of enforcement or regulation, have a high proportion of transaction volume linked to high-risk categories such as ransomware attacks, exchange hacks, and darknet-related activities. These examples show that Binance means business when it comes to aiding authorities in the global fight against money laundering. It has already committed its resources, manpower and expertise to this cause, which resulted in the arrests of criminals responsible for hundreds of millions of dollars in damages. And as the world's leading cryptocurrency exchange, it is uniquely situated to help tackle cybercrime using its big data capabilities, industry partnerships and much more. To learn more about everything the world's leading cryptocurrency exchange is doing to protect the safety and security of the ecosystem, follow the Binance Blog. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. Source: Bitcoin.com Crypto Breaking News | September 30, 2021 at 2:00 pm | Categories: News | URL: https://wp.me/papzAO-pVf Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/how-binance-helps-legal-authorities-take-down-cybercriminals-laundering-illicit-funds/

Crypto Breaking News posted: "Belt Finance, an automated market maker (AMM) protocol operating a yield optimization strategy on Binance Smart Chain (BSC), claims to have paid the largest bounty in the history of decentralized finance (DeFi) to a whitehat hacker who averted a $10 milli" New post on Crypto Breaking News White hat hacker paid DeFi's largest reported bounty fee by Crypto Breaking News Belt Finance, an automated market maker (AMM) protocol operating a yield optimization strategy on Binance Smart Chain (BSC), claims to have paid the largest bounty in the history of decentralized finance (DeFi) to a whitehat hacker who averted a $10 million bug crisis.  Industry whitehat programmer Alexander Schlindwein discovered the vulnerability in Belt Finance's protocol this week and reported the news to the team. For his efforts, Schlindwein received a generous compensation of $1.05 million, the majority of which ($1 million) was granted by Immunefi, with the additional $50,000 offered by Binance Smart Chain's Priority One program. Immunefi is one of the market leaders in software security for cryptocurrency projects. Since its inception, the platform has reportedly paid out in excess of $3 million to whitehat hackers who have successfully identified technical infrastructure flaws in smart contracts and crypto platforms. Priority One is a BSC initiative launched in July to enhance the security of dApp's within the platform's native ecosystem. Mirroring the structure of Immunefi, the service provides a $10 million incentive fund to blockchain bounty hunters who successfully contribute to the avoidance of security breaches across 100 dApps. Alexander Schlindwein told Cointelegraph about how he discovered the vulnerability: "I went through the list of bug bounties on Immunefi and picked Belt Finance as the next one to work on. While I was studying their smart contracts I noticed a potential bug in the internal bookkeeping which keeps track of each user's deposited funds. Playing the attack through with pen and paper gave me more confidence in the existence of the bug. I continued by producing a proper proof-of-concept which undoubtedly confirmed its validity and economic damage." "The next step was to create an official report on Immunefi including the PoC and an extensive description of the exploit, " Schlindwein said, adding, "Immunefi reacted immediately to the critical report and within three minutes after submission, it was escalated to the Belt team. Shortly after, Belt confirmed the validity of the report and began implementing a fix which then patched the vulnerability." Related: The perfect storm: DeFi hacks will advance the crypto sector moving forward Although DeFi's security breaches remain a prevalent concern, it has been argued by some that the nascent ecosystem will benefit from such incidents in the long term, as areas of weaknesses are starkly highlighted. Cointelegraph asked Schlindwein his perspective on the importance of bounty programs in supporting DeFi's antifragile ambitions: "I am strongly convinced of the importance of bug bounties and initiatives such as bounty funds. DeFi security consists of multiple layers, starting with peer review and unit testing to external audits and formal verification. Bug bounties are the last line of defense should an issue slip through the overlying layers with the potential to prevent a devastating hack while instead seriously fixing the issue and compensating the finder." "Bug bounties in DeFi have been a rare sight before Immunefi existed, only offered by the 'Crème de la Crème' of projects. It's great to see hundreds of projects launching their bug bounty nowadays which will certainly bring DeFi security forward in the long run," Schlindwein concluded. Source: Cointelegraph.com Crypto Breaking News | September 30, 2021 at 1:55 pm | Categories: News | URL: https://wp.me/papzAO-pVb Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/white-hat-hacker-paid-defis-largest-reported-bounty-fee/

Crypto Breaking News posted: "Terra, a top 15-ranked cryptocurrency by market capitalization, is planning to apply the Columbus 5 upgrade to its mainnet today. If everything goes according to plan, this new update will bring improvements to allow the Terra network to keep expanding. C" New post on Crypto Breaking News Terra to Apply Columbus 5 Mainnet Migration by Crypto Breaking News Terra, a top 15-ranked cryptocurrency by market capitalization, is planning to apply the Columbus 5 upgrade to its mainnet today. If everything goes according to plan, this new update will bring improvements to allow the Terra network to keep expanding. Columbus 5 will change how the network mints UST (terrausd), the main stablecoin of the blockchain, and will also bring integration with other chains, and faster transactions. Columbus 5 to Go Live Today Terra, a smart contract-enabled cryptocurrency chain, is prepared to apply the new Columbus 5 mainnet upgrade today. This will bring important updates to the network that could pave the way for future growth. However, the upgrade procedure is anything but simple: the old mainnet, Columbus 4, needs to be stopped completely to be replaced by the new one. The Terra team estimates this upgrade will take two hours. The network upgrade will make fundamental changes in how UST is minted. Before, to mint the UST stablecoin, users had to pay a fee called seigniorage, which was redistributed to the community. With Columbus 5 changes, this seigniorage will be all burned, adding to the scarcity of the LUNA token. Due to this, the update has been referred to as a sort of EIP-1559 for Terra. In addition to this, the update brings IBC support, which allows Terra to communicate with other networks such as Solana and Polkadot. This will allow the movement of assets between these networks, potentially increasing the presence of Terra-based assets in other chains. Terra USD Expansion Is the Goal Terra developers and proponents expect these new improvements will allow UST, the native stablecoin of the system, to become the defacto decentralized stablecoin on several blockchains. At the same time, it is thought this UST acceptance would create an appreciation of the value of Terra's governance and minting token, luna (LUNA). This is the reason a new bridge called Wormhole, which will provide easy access to the UST stablecoin on Solana, will debut in this upgrade. The Terra ecosystem, albeit young, has made an impact in the cryptocurrency market. While UST is still not listed on some of the biggest exchanges like Binance, it has reached a market cap of $2.6 billion, becoming the fifth-largest stablecoin by market cap. Luna has also grown immensely, experiencing growth of over 10,000% in one year. What do you think about Terra and its Columbus 5 network upgrade? Tell us in the comments section below. Source: Bitcoin.com Crypto Breaking News | September 30, 2021 at 1:30 pm | Categories: News | URL: https://wp.me/papzAO-pV9 Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/terra-to-apply-columbus-5-mainnet-migration/

Crypto Breaking News posted: "Decentralized finance (DeFi) interest rate protocol Compound Finance has reported a token distribution bug within its newly implemented Proposal 062, which is over-rewarding suppliers into the tens of millions of dollars. The upgrade was designed to " New post on Crypto Breaking News Compound supply bug mistakenly rewarded users with $70M in tokens by Crypto Breaking News Decentralized finance (DeFi) interest rate protocol Compound Finance has reported a token distribution bug within its newly implemented Proposal 062, which is over-rewarding suppliers into the tens of millions of dollars.  The upgrade was designed to "split COMP rewards distribution and bug fixes" and was fully verified without issues. However, within hours, the team noted "unusual activity," stating that "Compound Labs and members of the community are investigating discrepancies in the COMP distribution." Despite the developments, the team has stressed that no funds either supplied or borrowed are at risk. Users of the protocol are reporting sizable windfalls, one claiming a deposit of 70 million COMP tokens into their account, equivalent to $20 million. Super-Coder at SushiSwap Mudit Gupta revealed that a single letter bug was responsible for the error in a series of tweets. About 240k COMP tokens (~$70m) have been given away already and another 40k (~$13m) will likely be given away soon. If you had supplied tokens before today, go try your luck. It will be interesting to see if Compound requests users to return the extra tokens (like Alchemix did) — Mudit Gupta (@Mudit__Gupta) September 30, 2021 This is a developing story and we will update soon. Source: Cointelegraph.com Crypto Breaking News | September 30, 2021 at 12:59 pm | Categories: News | URL: https://wp.me/papzAO-pV7 Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/compound-supply-bug-mistakenly-rewarded-users-with-70m-in-tokens/

Crypto Breaking News posted: "Global payment giant Visa has introduced a project that aims to be "universal adapter" of blockchains that can connect multiple cryptocurrencies, stablecoins as well as central bank digital currencies (CBDC).According to an official Sept. 30 announcement," New post on Crypto Breaking News Visa working on blockchain interoperability hub for crypto payments by Crypto Breaking News Global payment giant Visa has introduced a project that aims to be "universal adapter" of blockchains that can connect multiple cryptocurrencies, stablecoins as well as central bank digital currencies (CBDC). According to an official Sept. 30 announcement, Visa's research team is working on a "Universal Payment Channel" (UPC) initiative, a blockchain interoperability hub connecting multiple blockchain networks and enabling transfers of digital assets from different protocols and wallets. "Imagine splitting the check with your friends, when everyone at the table is using a different type of money — some using CBDC like Sweden's eKrona, and others preferring a private stablecoin like USDC," Visa wrote, adding that such a tool "well may be a reality" in the "not-too-distant future with the UPC project. Developed by Visa's research and product teams, the UPC project is designed to establish dedicated payment channels between different blockchain networks, connecting CBDC networks between countries as well as connecting CBDCs with private stablecoin networks. The Visa research team originally began working on the UPC concept back in 2018, developing an interoperability framework that would run independently of the underlying blockchain mechanisms. Related: Microsoft wins US patent for 'ledger-independent token service' "Ultimately, the UPC solution aims to serve as a network of blockchain networks — adding value to multiple forms of money movement, whether they originate on the Visa network, or beyond," the announcement reads. One of the world's largest payment companies, Visa made a major move into the crypto industry in 2020, partnering with blockchain firm Circle to support the USD Coin (USDC) stablecoin on certain credit cards. The company has since reaffirmed its commitment to crypto payments and fiat on-ramps, with a particular focus on stablecoin integrations. Source: Cointelegraph.com Crypto Breaking News | September 30, 2021 at 12:58 pm | Categories: News | URL: https://wp.me/papzAO-pV5 Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/visa-working-on-blockchain-interoperability-hub-for-crypto-payments/

Crypto Breaking News posted: "The small town of Cool Valley, Missouri, lives up to its name. Its mayor, Jayson Stewart, plans to give $1K in bitcoin to each household and the project is fully funded. To top it all of, the airdrop comes with education. The 1500 habitants will learn how" New post on Crypto Breaking News Cool Valley Mayor Will Airdrop $1000 Worth Of BTC To Each Household by Crypto Breaking News The small town of Cool Valley, Missouri, lives up to its name. Its mayor, Jayson Stewart, plans to give $1K in bitcoin to each household and the project is fully funded. To top it all of, the airdrop comes with education. The 1500 habitants will learn how to use wallets and interact with the network, and also will be incentivized to HODL the coins they receive. "We're going to get people storing their own Bitcoin as quickly as possible," the Cool Valley mayor said. Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course Cointelegraph recently interviewed Jayson Stewart, and he told them: "What really excites me, and what I'm working on, is getting regular people to hold Bitcoin, and for them to really benefit from the appreciation of holding an asset like that." About a month ago, the Cool Valley mayor went viral with the plan to do this very thing. At the time, he told KSDK, "I have some very supportive donors who have agreed to match any money that I raise up to several millions of dollars." And the plan went so well that Steward already has all the funds and then some. Such is the power of the Internet. Such is the power of Bitcoin.  $1,000 #Bitcoin will go to every resident of Cool Valley, Missouri. The Mayor's plan is now fully funded! — Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) September 29, 2021 Will Cool Valley Residents HODL Their Coins? While the process of how will they distribute the Bitcoin is not yet clear, it seems like they decided to let people spend it if they want. At first, that wasn't the case. A month ago, the Cool Valley mayor told KSDK, "We're putting in place like a vesting schedule for Bitcoin. The idea is that maybe you don't touch it for five years before you really get full access to it. We're working on ideas like that because that's my number one concern." Now, the plan is to offer the Cool Valley residents an incentive to HODL. This is much more in line with Bitcoin's philosophy. The recipients will get a still unspecified bonus if they do, or they'll receive less BTC if they decide to sell. That brings to mind the 2014 experiment at MIT, which had positive results and sparked more than one career in cryptocurrencies. Back to the more recent interview, the Cool Valley mayor said, "the story got so popular in a way that I never anticipated." Since they got more donations than they were expecting, Steward plans to use the excedent to convert the government lights to solar power and fund other environmentally friendly projects. "There's a lot of fear, uncertainty and doubt when it comes to the environmental effects of Bitcoin," he said. And he's putting his donors' Bitcoin where his mouth is.  BTC price chart for 09/30/2021 on Coinbase | Source: BTC/USD on TradingView.com Bringing Bitcoin Bussines To Missouri Recently, Stewart joined the Midwest BankCenter's Advisory Board. This is "a locally owned bank with nearly $2 billion in assets." In the same breath, he said "I'm trying to get a Bitcoin-friendly bank over here." We can read between the lines there. Apart from that, Steward said, "We've had some people reach out about opening a mining facility."  Is this man taking a page from Nayib Bukele's book? El Salvador's President's decision to make Bitcoin legal tender has brought a lot of new business to the country, and that experiment is just starting. Reportedly, Cool Valley already hosts one Bitcoin ATM.  One ATM and private donations, that's the way El Zonte started. Are we witnessing another spark in the process towards the hyperbitcoinization of the world? Only time will tell. Related Reading | Top 5 Crypto Airdrops for May 2021 In another recent interview, this time with Bitcoin Magazine, the Cool Valley mayor praised Bitcoin: "It's given me a new way of thinking about humanity in the future," Stewart said. "It's given me a hope, and an optimism that we can overcome some of the worst parts of the system that we're born into, and actually create a future exactly how we want it to be. There's a certain level of hope and optimism that I get from Bitcoin." Bitcoin is hope. And the residents of Cool Valley will soon have the chance to experience the magic first hand. Featured Image by Bermix Studio on Unsplash - Charts by TradingView Source: NewsBTC.com Crypto Breaking News | September 30, 2021 at 12:38 pm | Categories: Bitcoin, News | URL: https://wp.me/papzAO-pV3 Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/cool-valley-mayor-will-airdrop-1000-worth-of-btc-to-each-household/

Crypto Breaking News posted: "The national postal service of Switzerland is working to bridge the gap between physical stamps and the digital cryptocurrency industry by introducing tradable digital stamps.On Sept. 20 the Swiss Post officially announced the upcoming launch of the " New post on Crypto Breaking News Switzerland national postal service to debut crypto stamp by Crypto Breaking News The national postal service of Switzerland is working to bridge the gap between physical stamps and the digital cryptocurrency industry by introducing tradable digital stamps. On Sept. 20 the Swiss Post officially announced the upcoming launch of the "Swiss crypto stamp," a digital collectible linked to a physical stamp issued by the postal service worth 8.9 francs. The Swiss crypto stamp would provide a digital representation for a physical stamp and will be stored on a blockchain. Buyers will be able to discover a digital twin of their physical stamp online through a QR code printed next to the physical stamp. The crypto stamp's image will show one of 13 possible designs and can be collected, exchanged and traded online, the Swiss Post noted. The upcoming Swiss crypto stamp will apparently provide an experience somewhat similar to nonfungible tokens (NFT) as some of the stamps would have a rare design. "Some are more common, while others are much rarer and more coveted. There are 65,000 copies of the most common digital design, but just 50 of the rarest. One thing is clear: the Swiss crypto stamp means collecting, exchanging and trading stamps has gone digital, too," the Swiss Post wrote. The Swiss crypto stamp will launch in late November, with 175,000 such stamps coming to selected Swiss Post branches on Nov. 25. According to the announcement, the Swiss crypto stamp will be the first stamp of its kind ever launched in Switzerland. Related: First cryptocurrency fund approved in Switzerland The Swiss Post did not immediately respond to Cointelegraph's request for comment. Switzerland is not the first country to experiment with blockchain technology to provide digital stamp collectibles. In May 2021, Austria's postal service announced plans for incorporating NFC chips in its Crypto Stamp 3.0, the third iteration of its limited-edition NFT postage stamp collectible series. Austria released its first-ever crypto stamp in 2019. Source: Cointelegraph.com Crypto Breaking News | September 30, 2021 at 12:20 pm | Categories: News | URL: https://wp.me/papzAO-pUZ Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/switzerland-national-postal-service-to-debut-crypto-stamp/

Crypto Breaking News posted: "Dogecoin co-founder Billy Markus has said that Dogecoin (DOGE) needs an Ethereum bridge and inclusion by NFT marketplaces as a payment option in order to boost adoption of the cryptocurrency.  "Two things I believe would help Dogecoin: Completion of DOGE-" New post on Crypto Breaking News Dogecoin Co-Creator: Ethereum Bridge and NFT Purchases Would 'Help Dogecoin' by Crypto Breaking News Dogecoin co-founder Billy Markus has said that Dogecoin (DOGE) needs an Ethereum bridge and inclusion by NFT marketplaces as a payment option in order to boost adoption of the cryptocurrency.  "Two things I believe would help Dogecoin: Completion of DOGE-ETH bridge, and NFT platforms (e.g. Opensea) allowing for the DOGE-ETH token to be used for purchases," Markus said in a tweet.  Two things I believe would help Dogecoin: 1) Completion of DOGE-ETH bridge 2) NFT platforms (e.g. Opensea) allowing for the DOGE-ETH token to be used for purchases NFTs purchasing is high demand with crypto. Allowing for DOGE purchases of NFTs greatly increases its utility. — Shibetoshi Nakamoto (@BillyM2k) September 29, 2021 "NFTs purchasing is high demand with crypto," Markus added, noting that enabling the use of Dogecoin for non-fungible token (NFT) purchases "greatly increases its utility."  Dogecoin believers Markus is not the only one who is pushing for greater Dogecoin adoption.  The Shiba Inu-themed cryptocurrency has had a net-positive year to date. Since January 1, 2021, the price of Dogecoin has increased from $0.004 to its current price of $0.20.  Along the way, Dogecoin peaked at a price of $0.68, helped along by the enthusiastic endorsement of Tesla CEO Elon Musk.  In May, Musk said that Dogecoin could "hands down" beat Bitcoin if it sped up its block time and block size by 10x—as well as decreasing fees by 100x. Throughout the year, Musk has been one of Dogecoin's biggest advocates, and his tweets have frequently sent Dogecoin's price soaring.  He's also been advising Dogecoin developers with a view to making the cryptocurrency cheap and easy enough to use for everyday purchases like buying a cup of coffee. "Elon obviously has a background in payment processing," Dogecoin dev Ross Nicoll told Decrypt. "And we're taking advice from him on what that would look like." Elon Musk Tweets Pump Dogecoin But Not Bitcoin: Research Adam Aron, CEO of movie theater chain AMC, is also open to seeing Dogecoin used for payments. Earlier this month, AMC announced that it would take Bitcoin and other cryptocurrencies for online payments, but left Dogecoin out of the mix. Following a spirited response from Dogecoin fans on social media, Aron ran a Twitter poll on exploring Dogecoin as a payment method, with over 82% of respondents in favor of the movie theater chain opening up to Dogecoin. Dogecoin's doubters Musk and Markus may believe in a Dogecoin future, but the meme cryptocurrency is not without its critics—including Markus' fellow Dogecoin co-founder, Jackson Palmer.  Since helping to create Dogecoin, Palmer has announced that he wants nothing to do with the cryptocurrency, or any cryptocurrency for that matter.  "After years of studying it, I believe that cryptocurrency is an inherently right-wing, hyper-capitalistic technology built primarily to amplify the wealth of its proponents through a combination of tax avoidance, diminished regulatory oversight and artificially enforced scarcity," Palmer said in a tweet this summer. Source: Decrypt.co Crypto Breaking News | September 30, 2021 at 12:12 pm | Categories: News | URL: https://wp.me/papzAO-pV1 Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/dogecoin-co-creator-ethereum-bridge-and-nft-purchases-would-help-dogecoin/

Crypto Breaking News posted: "Credit card giant Visa has bet big on crypto in the last two years, forging relationships with blockchain companies and even buying a CryptoPunk NFT on Ethereum. Now, the company is expanding its crypto ambitions. Visa announced on Thursday the outlines f" New post on Crypto Breaking News Visa Unveils 'Layer 2' Network for Stablecoins, Central Bank Currencies by Crypto Breaking News Credit card giant Visa has bet big on crypto in the last two years, forging relationships with blockchain companies and even buying a CryptoPunk NFT on Ethereum. Now, the company is expanding its crypto ambitions. Visa announced on Thursday the outlines for what it calls a "universal payments channel" that will facilitate transactions between various stablecoins and central bank digital currencies (CBDCs). The idea is to create a digital currency equivalent of the existing international payment experience—one that lets you pay for something in another country with a debit or credit card that draws funds from an account in your home country. That process relies on legacy networks run by banks and credit cards and is based on national currencies, not blockchains. In launching its "universal" payments channel, Visa is trying to replicate that system for the blockchain era. Driving this bet is a belief that stablecoins such as USDC—a digital token backed 1-1 to the U.S. dollar—and CBDCs, like the one issued by China, will become commonplace. PayPal, Google Execs to Help Bank of England 'Understand' Digital Currency In an interview with Decrypt, Visa product lead for CBDCs Catherine Gu described the new channel as a hub that will interact with trusted digital wallets. Gu likened Visa's initiative to the "Layer 2" solutions being developed on Bitcoin and Ethereum—projects that process initial transactions on a separate layer from the underlying blockchain and then use the blockchain to finalize them. Layer 2 processes seek to let users enjoy the transaction speed of a traditional network (blockchains are notoriously slow) while also enjoying the immutable, tamper-proof record of a blockchain. Gu also stressed that unlike Layer 2 solutions such as the Lightning Network, which is designed to help Bitcoin scale, the universal payments channel's focus is on interoperability, or making it easy to exchange one currency for another. To facilitate this, Visa plans to rely on a type of smart contract known as a "hashed timelock contract," which is already widely used in the crypto world and ensures both parties to a transaction do what they say they will do. For this to work, Visa will have to persuade companies and national governments to devote developer resources to build digital wallets compatible with its proposed universal channel. While  some of these entities might not be inclined to participate—preferring instead to keep users within their own currency network—Visa's head of crypto Cuy Sheffield told Decrypt that this is unlikely since a given token will lose influence if it's not part of a broader network. Visa also noted that its payment channel, which grew out of an academic research lab it runs in Silicon Valley, is very much in the early stage. "As we continue our applied research, we're working to translate our ideas into actual lines of code," Gu wrote in a blog post announcing the project, linking to an Etherscan page with a sample of the smart contract. Visa's announcement is timely given that stablecoins and CBDCs are receiving enormous attention from regulators across the world. In the U.S., both the White House and the Federal Reserve are expected to release reports in the coming weeks on the role of stablecoins in the economy. While the emerging consensus is that governments' embrace of digital currencies are inevitable, it's unclear if this will include privately created stablecoins like USDC and Tether, or if countries will follow China's example and only permit digital currencies run by the state. The growing influence of stablecoins and CBDCs—an influence reflected by Visa's proposal to create a hub for them—also raises the question of how decentralized currencies like Bitcoin will fit into governments' policy calculations. While some fear that Bitcoin could be sidelined by more "official" forms of digital money, it's equally likely the various networks will come to intersect. Visa, for instance, says the proposed base layer for its universal payments channel is Ethereum. Source: Decrypt.co Crypto Breaking News | September 30, 2021 at 12:01 pm | Categories: News | URL: https://wp.me/papzAO-pUX Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/visa-unveils-layer-2-network-for-stablecoins-central-bank-currencies/

Crypto Breaking News posted: "Scientists are continuously pursuing ways to lengthen the human lifespan, and blockchain might have been a missing part of the puzzle. The Longevity Science Foundation, a Swiss entity launched by a consortium of biotech founders, clinicians and leading lo" New post on Crypto Breaking News $1B science fund seeks blockchain projects to expand human lifespan by Crypto Breaking News Scientists are continuously pursuing ways to lengthen the human lifespan, and blockchain might have been a missing part of the puzzle. The Longevity Science Foundation, a Swiss entity launched by a consortium of biotech founders, clinicians and leading longevity research institutions, aims to spend more than $1 billion over the next 10 years to find tech-based means to achieve a 120-year human lifespan. The foundation seeks to fund research, institutions and projects that use blockchain and other next-gen technologies to find new horizons in four critical areas of the field, namely therapeutics, personalized medicine, artificial intelligence (AI) and predictive diagnostics. The announcement states that such projects can make a significant difference in people's lives even within a time window of five years. Applying theoretical longevity concepts to real-world use is a primary goal for the group. The foundation aims to transform scientific findings and technological advances into clinical treatments and solutions through donations. "By identifying and funding the most promising and cutting-edge advances, the Foundation seeks to address one of the most pressing issues in the science and applicability of longevity medicine radical inequality in accessing and understanding longevity-focused treatment," the announcement reads. The foundation's contributors, who can also make donations with cryptocurrencies, will get voting rights to have a say in deciding which projects receive funding. A visionary board will pre-select and evaluate potential candidates "for their technical soundness and potential impact on human longevity." Related: The next generation of data-driven healthcare is here Joining the Visionary Board of the Foundation is Dr. Alex Zhavoronkov, known for his work on longevity tech. Dr. Zhavoronkov is also an advisor to blockchain medical data marketplace Longenesis, which launched a joint project with the Bitfury Group to establish a blockchain-based consent management system for the healthcare industry. "The Foundation has created a unique and transparent mechanism for boosting early longevity research worldwide and ensuring mass public participation in decision making," Dr. Zhavoronkov said. As for how technology can help healthcare research, LongeVC Managing Partner Garri Zmudze told Cointelegraph that if paired with AI, blockchain can unlock hundreds of terabytes of unstructured hospital data for further analysis. Source: Cointelegraph.com Crypto Breaking News | September 30, 2021 at 12:00 pm | Categories: News | URL: https://wp.me/papzAO-pUT Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/1b-science-fund-seeks-blockchain-projects-to-expand-human-lifespan/

Crypto Breaking News posted: "CoinEx cryptocurrency exchange is winding down operations in mainland China to comply with local anti-crypto regulations.The company officially announced on Sept. 30 that it will completely retire user accounts verified as mainland China citizens as " New post on Crypto Breaking News CoinEx crypto exchange to remove all mainland China users in October by Crypto Breaking News CoinEx cryptocurrency exchange is winding down operations in mainland China to comply with local anti-crypto regulations. The company officially announced on Sept. 30 that it will completely retire user accounts verified as mainland China citizens as well as those linked to a mobile phone number from mainland China. The exchange has asked mainland China-based users to withdraw their crypto assets from the platform before Oct. 31, 2021. CoinEx then plans to disable accounts with zero assets starting from Sept. 30. "All access will no longer be available to your accounts," the exchange state Despite CoinEx's aggressive measures to take down users from mainland China, the exchange will still allow users to withdraw assets after Oct. 31. After the deadline, the "only service available for these accounts will be withdrawal, that is, functions such as deposit and trading will be closed and only the withdrawal service is supported," CoinEx explained. CoinEx also noted t previously blocked access and terminated registration of new users from mainland China in March 2019, urging them to complete withdrawals as soon as possible. "To further comply with local laws and regulations of the Chinese government, we will completely retire users in mainland China," the firm said. The exchange did not immediately respond to Cointelegraph's request for comment. Related: China's crypto holdouts: Bitcoin nodes and OTC desks struggle on CoinEx is a major global cryptocurrency exchange, founded in December 2017. At the time of writing, CoinEx's daily trading volume amounts to around $85 million, according to data from CoinMarketCap. With the recent move, CoinEx joins the increasing number of crypto companies wrapping up their operations in mainland China in response to local authorities announcing another crypto ban last week. Major crypto exchanges like Binance and Huobi subsequently halted some services in mainland China, while major Ethereum mining pools like Sparkpool and BeePool were forced to shut down operations completely. Source: Cointelegraph.com Crypto Breaking News | September 30, 2021 at 11:57 am | Categories: News | URL: https://wp.me/papzAO-pUV Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/coinex-crypto-exchange-to-remove-all-mainland-china-users-in-october/

Crypto Breaking News posted: "Nigerian lawmaker Ibrahim Obanikoro has called on Nigerian authorities to "close all domiciliary accounts for the next 12 months." Such a move, he argues, will help to ease pressure on the naira, which has depreciated by more than 10% in the" New post on Crypto Breaking News Nigerian Lawmaker Proposes Closure of All Domiciliary Accounts in Order to Save Imperiled Naira by Crypto Breaking News Nigerian lawmaker Ibrahim Obanikoro has called on Nigerian authorities to "close all domiciliary accounts for the next 12 months." Such a move, he argues, will help to ease pressure on the naira, which has depreciated by more than 10% in the past two months. The Naira's Continuing Depreciation The call by Obanikoro comes nearly two weeks after threats from the Central Bank of Nigeria (CBN) governor forced Abokifx to stop publishing the naira's black market exchange rates. Yet even after the suspension of the service, the naira continues to slide in value. This continuing depreciation, in turn, is forcing panicking stakeholders including Obanikoro to propose even more unconventional and controversial solutions. However, in his September 28 tweet, Obanikoro also justified his call by suggesting that other countries would never allow Nigerians to open a naira account. The lawmaker explained: I am not the Central Bank of Nigeria [CBN] Governor but at this moment, I'm of the opinion that CBN should mandate that all dorm accounts be closed for the next 12 months. Let's see the effect on the naira. After all, you can't go to any of the Western world and open a foreign currency account. Your opinion. Lawmaker's Suggestion Questioned As expected, Obanikoro's controversial call sparked an immediate reaction from some Twitter users. For instance, in his response to the lawmaker's suggestion, an account called "Cryptocurrency Thought Leader" brings bitcoin into the discussion and says: "Satoshi looked through history and decided to create this alternative for us." The user ends his reply by predicting that the naira's drop to $1 for every NGN1000 will "happen faster than I predicted." Another user, Orisha welcomes the lawmaker's willingness to solve the local currency's continuing depreciation but warns against closing domiciliary accounts. The user said: "This idea can work, but you can't just close people dom account, but only mandate them to withdraw all their $ from the account within let's say 4month max. Will the North and Naija Elites allow you to destroy banks & bureaux de change [BDC]?" Still, other users have asked Obanikoro to focus his attention on factors that caused the naira to lose its value, and not the accounts. Do you agree with the Nigerian lawmaker's suggestion? Tell us what you think in the comments section below. Source: Bitcoin.com Crypto Breaking News | September 30, 2021 at 11:30 am | Categories: Bitcoin, News | URL: https://wp.me/papzAO-pUR Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/nigerian-lawmaker-proposes-closure-of-all-domiciliary-accounts-in-order-to-save-imperiled-naira/

Crypto Breaking News posted: "Kraken's Security Labs, the cybersecurity arm of crypto exchange Kraken, has identified several vulnerabilities in the commonly used General Bytes BATMtwo Bitcoin ATM.  "Our team found that a large number of ATMs are configured with the same default admin" New post on Crypto Breaking News Kraken Reveals Vulnerabilities in 'Commonly Used' Bitcoin ATMs by Crypto Breaking News Kraken's Security Labs, the cybersecurity arm of crypto exchange Kraken, has identified several vulnerabilities in the commonly used General Bytes BATMtwo Bitcoin ATM.  "Our team found that a large number of ATMs are configured with the same default admin QR code, allowing anyone with this QR code to walk up to an ATM and compromise it," the Kraken Security Labs team wrote in a blog post disclosing the vulnerabilities.  "Our team also found a lack of secure boot mechanisms, as well as critical vulnerabilities in the ATM management system," Kraken added.  Kraken's discoveries have both hardware and software ramifications for the General Bytes machines.  The details According to Kraken, the General Bytes BATMtwo ATM only has one single compartment protected by a lock.  Bitcoin ATMs are a convenient way to purchase crypto - but are they safe? Kraken Security Labs discovered flaws in one major ATM fleet. Learn more: https://t.co/sYmYY1PUMx pic.twitter.com/xwMmWcgmSY — Kraken Exchange (@krakenfx) September 29, 2021 "Bypassing it provides direct access to the full internals of the device," Kraken said, adding that an attacker could "compromise the cash box, embedded computer, webcam and fingerprint reader."  When it comes to software, Kraken found that "many common security features were lacking."  By attaching a USB keyboard to the BATMtwo, it was possible to gain full access to the user interface. This, in theory, would allow would-be-attackers to install applications, copy files, or even have the device send private keys to the attacker.  Improving security Kraken provided a series of remedies for both users and owners or operators of Bitcoin ATMs.  Should you wish to use a Bitcoin ATM, Kraken advises that you only use those which are in stores you trust, and ensure that it has "perimeter protections" like surveillance cameras.  For owners and operators of General Bytes' Bitcoin ATMs, Kraken suggests changing the default QR admin code, placing it in a location where there are security controls, and following General Bytes' "best practices." Source: Decrypt.co Crypto Breaking News | September 30, 2021 at 10:48 am | Categories: News | URL: https://wp.me/papzAO-pUN Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/kraken-reveals-vulnerabilities-in-commonly-used-bitcoin-atms/

Crypto Breaking News posted: "The 4th anniversary marks a special moment for KuCoin. They've recently claimed at TechCrunch Disrupt 2021 that it intends to be the first and biggest social trading platform in the crypto sector. This couldn't happen without the initial 7-person team fin" New post on Crypto Breaking News 4 Years of KuCoin: From a 7-Person Team to 8 Million Users Worldwide by Crypto Breaking News The 4th anniversary marks a special moment for KuCoin. They've recently claimed at TechCrunch Disrupt 2021 that it intends to be the first and biggest social trading platform in the crypto sector. This couldn't happen without the initial 7-person team finding a way to spearhead crypto adoption in 2013. Little did they know, KuCoin would become a global enterprise with over 600 employees and serve 8 million users in 207 countries. KuCoin started solely as a spot-crypto trading platform. It's now morphed into a massively rich crypto ecosystem due to onboarding industry-standard services such as KuCoin Spotlight, KuCoin Futures, KuCoin Trading Bots, KuCoin Pool, KuCoin Labs, and more. This progress has led to $500 billion accumulated in trading volume and over 800 million transactions. How it all started KuCoin founder, Michael Gan was a tech expert for Alibaba Group's Ant Financial. He first heard about Bitcoin when it was only $6 from his boss (and now co-founder), Eric Tang. Michael did what most people do when they recognize Bitcoin's future potential – mine. After stacking BTCs, Michael decided to sell some on Mt.Gox as it had the most liquidity. He immediately noticed how challenging the platform was for newcomers and how it would be a problem for mass adoption. He subconsciously understood that blockchain tech can only change the world if the world knows how to use it. Michael and his friends saw their original thoughts on blockchain's future materialize as cryptocurrencies grew more popular. It drove them to think of ideas that would play a vital role in worldwide adoption and establish themselves in crypto history. This sparked the idea of a user-friendly exchange platform anyone can access. While most people had their eyes on the Mayan calendar in 2012, the KuCoin dream team was forming through friends and acquaintances that shared the same passion for blockchain technology and cryptocurrencies. By the end of 2013, KuCoin had its "hello world" moment as the team wrote down the first bits of code in a cafe. They never looked back, and the rest is history. The ICO Era: KuCoin's make or break moment Michael and his team paid strong attention to the ICO market in mid-2017 as projects were failing from all directions, and some were obvious scams. They saw the opportunity to help the community not fall into ICO traps, and it started with a shift of identity. KuCoin no longer saw itself as a basic trading exchange. It decided to be the 'People's Exchange' instead. They did this by using their platform "to find the best projects available and the 'hidden gems' of the crypto-world for our users." This was a risky decision as KuCoin's reputation was on the line. Directing users to the wrong projects can damage an exchange indefinitely. Especially during an adoption wave. From that moment forward, it's been nothing but all-time highs for KuCoin. Michael may have started his crypto journey mining Bitcoin, but now, he and his team give miners a reason to see long-term value in crypto. In November 2018, KuCoin completed a $20 million Series A financing from IDG Capital and Matrix Partners. It's worth noting that IDG is also an early investor of acclaimed crypto exchanges like Coinbase and Liquid. These funds also helped KuCoin continue to improve its platform's stability, safety, and ease of use. Culminating in greater value for its users. KuCoin increased its user base by a massive 1144% this year and tripled the number of female traders on their platform. Female traders are now 38% of users. GameFi (the play-to-earn NFT industry) is booming and KuCoin took lead by creating the first trading board for metaverse tokens. KuCoin also outperformed Deribit and approached BitMEX in derivatives trading volumes. So, what's next for KuCoin in 2022? KuCoin CEO reveals all Current CEO, Johnny Lyu discussed KuCoin's roadmap for 2021-2023 early this year. It confirms their plans to upgrade their current systems and deploy more quality services. In the 1st quarter of 2022, KuCoin will be launching a 3.0 version of its wallet custody system. In the next quarter, KuCoin Matching Engine 3.0 will go live — this will further increase the speed and efficiency of users placing trades. The last two quarters concentrate on improving their futures trading system and achieving metrics such as 25 million worldwide users, over a million Twitter followers, and for their daily volume to pass $15 billion. Despite their listed objectives, KuCoin's intentions haven't changed that much. They're still focused on finding the next crypto gems, aiming to be the most prominent altcoin exchange. But now, they're also fully committed to raising the value of KCS (KuCoin Token) to the point it reaches the top 30 in market capitalization. This means they'll be on the lookout for the next best advancements in the NFT and DeFi space. Another interesting goal KuCoin plan to achieve is transforming into a social trading platform, which is still blank in the crypto industry. Currently, most exchanges focus on building a better trading tool, while KuCoin identified crypto investors' needs beyond trading. This will be accomplished through the launch of lots of new social features later this year. This will allow users to better understand and trade crypto on KuCoin and find global investors who share the same interest. Through the information and interaction services provided by the platform, even a newcomer will have a bigger chance to win. KuCoin is successfully turning the crypto mass adoption marathon into a sprint. Their exponential growth, recent additions, and bullish plans verify this. The crypto space is becoming more interesting by the day as there's always something new that can potentially change the world. KuCoin aims to be directly involved in what crypto offers the people next. KuCoin is not just putting themselves at the forefront of the crypto rollercoaster, they're guaranteeing the ride never ends. Source: NewsBTC.com Crypto Breaking News | September 30, 2021 at 10:42 am | Categories: News | URL: https://wp.me/papzAO-pUP Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/4-years-of-kucoin-from-a-7-person-team-to-8-million-users-worldwide/

Crypto Breaking News posted: "The use of new technologies such as blockchain or artificial intelligence has been in the spotlight lately and gaining more acceptance from governments around the world. On Sunday, Sept. 26, Germans voted in parliamentary elections that marked the en" New post on Crypto Breaking News Germany's 2021 election: What do parties think of crypto and blockchain? by Crypto Breaking News The use of new technologies such as blockchain or artificial intelligence has been in the spotlight lately and gaining more acceptance from governments around the world.  On Sunday, Sept. 26, Germans voted in parliamentary elections that marked the end of Angela Merkel's 16 years in office. Since 2005, Germany has experienced deep crises, but also unprecedented prosperity. Merkel's departure creates a power vacuum, but it also creates the chance for a new beginning — with the crypto sector being no exception. But what might this new beginning look like, and what are German parties planning to do to help the crypto market and new technologies like blockchain?  Cointelegraph took a look at the election manifestos, searched for keywords like "cryptocurrencies," "blockchain" or "digital euro" and asked the parties what they think about the regulation of the crypto market. Social Democratic Party — 206 seats won The relationship of the center-left Social Democratic Party (SDP) to cryptocurrencies can be explained briefly: The crypto market apparently plays no role for Germany's largest political party, which boasts the most members. And such words as "Bitcoin" or "cryptocurrencies" seem to be forgotten by the party in its "Zukunftsprogramm" (English: Manifesto for the future), the title of the SPD's election manifesto. Only in one place is there a negative mention of private digital currencies such as Facebook's project Diem or so-called stablecoins. Not even the digital euro appears in the SPD's election document. The "sister" parties CDU and CSU, known as the "Union" — 196 seats won Until mid-2019, the center-right parties CDU/CSU were critical regarding cryptocurrencies, after which the party launched its blockchain strategy. In the opinion of the CDU/CSU, blockchain technology has great potential, and Germany is to become a global blockchain pioneer. 90% of the measures (40 out of 44) from its blockchain strategy have already been initiated, including such milestones as the opening of German law for digital securities. The Union wants to continue to push blockchain pilot projects. On the topic of cryptocurrencies, the CDU/CSU calls for progressive yet responsible regulation and the tightening of Know Your Customer rules. The election manifesto states: "Acquiring real estate by paying cash should only be possible by means of banks, which must first verify the identity of the buyer and the origin of the money as part of an existing business relationship; the same applies when exchanging cash for cryptocurrency and vice versa." Tokenized securities, on the other hand, are much more a focus for the CDU/CSU, and they are openly advocated by the party. The digital euro as a fast, simple and secure means of payment and as an alternative to cash seems to be important for the CDU/CSU, too — but according to the party, "one has to take cautious steps."  Alliance 90/The Greens — 118 seats won The Greens understand the importance of blockchain technology but want to keep this innovation under state control. According to Lisa Paus, the Greens' spokesperson for financial policy, told Cointelegraph that cryptocurrencies bring risks such as "huge energy consumption, abuse by criminals and speculative exaggerations." "Basically, as for all innovations in the financial sector, the same rules should apply here as for other classic financial products with regard to consumer protection, transparency and financial stability," she said. In principle, the Greens support the plans of the European Central Bank to create its own digital euro. According to Paus, the European Union needs its own infrastructure in the financial sector to secure its sovereignty as well as the international role of the euro. She said: "It is important to us that a digital euro guarantees data and legal security for consumers and businesses and does not threaten financial stability. Through a digital euro, we can also counteract unjustified costs caused by oligopolies. However, a digital euro does not replace classic cash, but complements it." Like the SPD, the Greens reject private currencies or stablecoins. The party fears an erosion of state control over currency and, accordingly, wants to take decisive action against it. The Green party's election manifesto also intends to completely abolish tax exemptions for cryptocurrency investments held longer than one year. Currently, Germany only taxes crypto or precious metals, such as gold or silver, if they're sold within the same year they were bought. So, crypto traders who use digital assets for long-term financial investment and do not often relocate them can generate tax-free profits in Germany.  According to the Greens, it should not matter how long you hold — sooner or later, the state will want its cut. Free Democratic Party — 92 seats won In its election manifesto, the pro-free market Free Democratic Party (FDP) advocates a friendly policy toward cryptocurrencies. It says it wants to create an innovation-friendly legal framework for crypto assets and enable digital securities of all kinds.  "Clear standards can enable both the companies involved and the consumers to use blockchain more safely and thus contribute to a better adaptation of the technology," Johannes Mellein, FDP's press officer, told Cointelegraph. Per Mellein, regulation should not be too strict but act as a barrier to market entry. The liberal FDP sees new opportunities in blockchain, especially in the energy sector or for financial services. According to the party, the emerging blockchain ecosystem could be one of the strongest game-changers in capital markets and in the fintech sector in the next 10 years. According to Mellein, blockchain tech could further unlock previously illiquid assets for investment from the public. For this reason, the FDP is calling for a transformation of the national and European legal framework. The FDP has also proposed so-called "digital freedom zones" in Germany. Such zones — also referred to as regulatory sandboxes — would free blockchain and crypto startups from regulations and oversight by the Federal Financial Supervisory Authority (BaFin) so that they can try out new concepts and prototypes.  As far as a digital euro is concerned, the FDP sees it as a fast and secure alternative to cash. However, according to the liberal party, the e-euro should not abolish or replace cash. Alternative for Germany (AfD) — 83 seats won Although some Alternative for Germany (AfD) politicians have publicly spoken out in favor of Bitcoin (BTC) and cryptocurrencies in the past, the topic finds no place in their current election manifesto "Germany. But normal." The right-wing populist party has dropped only one sentence about a central bank digital currency, stating that it is strongly opposed to central bank currencies. The right-wing populist party is only certain about one thing: Cash must be preserved at all costs. The AfD demands the permanent preservation of cash as a civil right and its anchoring in the Common Law. The Left — 39 seats won The Left wants to regulate digital payment systems more strongly, in general. In addition, the party sees the state monopoly on currency threatened by the privatization of money — first and foremost by corporations like Facebook and its plans for a complementary currency, Diem. But cryptocurrencies, of course, also do not conform to the leftist credo that money must be state-owned. The Left confirms this to Cointelegraph:  "Cryptocurrencies provide little benefit to society and have harmful side effects." Bitcoin didn't finance our daily consumption, the Left explains, Bitcoin also wasn't about sufficient value stability, and it wasn't guaranteed to maintain or increase its value. The Left, therefore, demands stricter regulation of cryptocurrencies and better financial consumer protections. In the Left's opinion, the financial supervisory authority, BaFin, should regulate crypto trading "to protect investors from high losses."  In addition, the Left is calling for a ban on crypto mining. The party told Cointelegraph that it still sees the generation of Bitcoin and cryptocurrencies as a waste of energy and resources: "Bitcoin is also an environmental sow because mining consumes an extreme amount of electricity. Moreover, there is an urgent need for action to put a stop to money laundering with cryptocurrencies. Bitcoin is the darknet of finance." The crypto-critical party, however, is open to a digital euro. The Left even tried to get the digital euro on the agenda in the Bundestag during the last legislative period: "We are in favor of a digital euro that is secure and innovative, but in no way replaces cash, only complements it. The digital euro would be as secure as cash, would enable its own level of data protection and would support the digitalisation of the economy, such as the aforementioned automation of processes." According to the leftist party, blockchain technology is an innovation with great potential, especially in process automation. However, as stated by the Left, it didn't make sense to use blockchain to verify electricity-intensive accounting via decentralized computers, which is generally provided by banks without errors. Summary: Stricter regulation expected How the future government consisting of these six parties will approach the issue of regulating cryptocurrencies and blockchain technology remains to be seen.  Changes such as tighter KYC regulations and stricter regulation of the crypto-economy can be expected soon. After all, the parties agree on one point: Money laundering and terrorist financing should be fought against harder, and cryptocurrencies are still seen by many parties (except the FDP) as "dirty" money with a lack of control.  Private digital currencies such as Diem or stablecoins will also not find support from the German government because of the fear that they could undermine the state's monopoly on money. Only the FDP refrains from ban rhetoric, but the SPD candidate for chancellor, Olaf Scholz, on the other hand, often pleaded against private cryptocurrencies.  Source: Cointelegraph.com Crypto Breaking News | September 30, 2021 at 10:15 am | Categories: News | URL: https://wp.me/papzAO-pUJ Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? 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Crypto Breaking News posted: "Bitcoin (BTC) erased overnight gains on Sept. 30 as sudden problems at major exchange Bitfinex caused a mass outage.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitfinex investigates mystery shutdownData from Cointelegraph Markets Pro and Tr" New post on Crypto Breaking News Is $40K Bitcoin the new $10K? BTC holds $43K support as exchange Bitfinex halts trading by Crypto Breaking News Bitcoin (BTC) erased overnight gains on Sept. 30 as sudden problems at major exchange Bitfinex caused a mass outage. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitfinex investigates mystery shutdown Data from Cointelegraph Markets Pro and TradingView showed BTC/USD losing $43,000 following the news after hitting local highs above $43,800 on Bitstamp. With the source of the issue unknown at the time of writing, traders were left in the dark as an already sensitive crypto market fell back towards es "We are investigating issues with the platform and have to temporarily halt trading," Bitfinex wrote as part of its latest service update. We are investigating issues with the platform and have to temporarily halt trading. We will keep everyone updated on here and our status page https://t.co/u3pYCVVGQq as we know more. We apologise for the inconvenience. — Bitfinex (@bitfinex) September 30, 2021 Tuesday had seen fellow exchange Binance, the largest by volume in the world, suspend trading for two hours as part of scheduled maintenance, this having no significant impact on BTC price action. With Thursday already set to be a charged day, however, Bitcoin looked set to close out September almost exactly at its predicted "worst case scenario" price of $43,000. In so doing, the largest cryptocurrency would once again validate predictions made by stock-to-flow model creator PlanB, who also correctly estimated the August close of $47,000. Fellow trader and analyst Rekt Capital meanwhile reiterated the need for BTC/USD to reclaim its 21-week exponential moving average level (EMA) by the end of Sunday to preserve overall bullish momentum. Market mimics $10,000 BTC from September 2020 Meanwhile, the overall character of the Bitcoin market was still far from bearish for most. Related: Bitcoin breaking new highs in Q4 will 'temporarily turn alts to dust' — Analyst Despite lackluster price action, the odds remain for a dramatic return to form in the coming weeks and months, with comparisons to the same period in 2020. The latest was from Cole Garner, who noted that the large block of buyer support just below $40,000 was reminiscent of the order book setups when BTC/USD was at $10,000 in September last year. Last time we saw bids this thick, #Bitcoin was at $10k. pic.twitter.com/nQqleOUI36 — Cole Garner (@ColeGarnerXBT) September 29, 2021 This week also saw long-time pundit Bobby Lee predict not only $100,000 in the mid term, but as much as $200,000 or more for Bitcoin in a new "FOMO rally." Source: Cointelegraph.com Crypto Breaking News | September 30, 2021 at 10:09 am | Categories: Bitcoin, News | URL: https://wp.me/papzAO-pUL Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/is-40k-bitcoin-the-new-10k-btc-holds-43k-support-as-exchange-bitfinex-halts-trading/

Crypto Breaking News posted: "Axie Infinity, a play-to-earn NFT game based on the Ethereum blockchain, announced the launch of the staking program for its native token, Axie Infinity Shards or AXS. AXS holders can start staking their tokens while the rewards will be activated in " New post on Crypto Breaking News NFT trading game Axie Infinity launches AXS staking program by Crypto Breaking News Axie Infinity, a play-to-earn NFT game based on the Ethereum blockchain, announced the launch of the staking program for its native token, Axie Infinity Shards or AXS.  AXS holders can start staking their tokens while the rewards will be activated in 24 hours to ensure all time zones could stake beforehand, according to a Sept. 30 announcement. "Staking is a way for us to reward our community members for having a long-term mindset and locking up their AXS tokens," the Axie Infinity team said as part of the announcement, adding that by staking, players can earn AXS rewards. The team plans to give voting rights and "a say over the use of the Community Treasury" by staking. The Community Treasury of Axie Infinity holds more than 18 million AXS tokens worth over $1.4 billion at the time of writing. A total of 2 million AXS tokens will be distributed during the first month of the staking program. About 58 million of the set cap of 270 million AXS tokens are in circulation and the rest would be released through staking, gameplay rewards and ecosystem reward structures, the announcement reads. Related: DeFi gaming: A catalyst to mainstream adoption of decentralized finance Launched in 2018, Axie Infinity is a trading and battling game that enables players to collect, breed, raise, battle and trade Axies, which are basically nonfungible tokens (NFTs) with different attributes and strengths. AXS tokens, which are also listed on several crypto exchanges, represent a little slice of the game's universe. In addition to directly purchasing them, players can also earn in-game achievements such as taking place on leaderboards or winning tournaments. Source: Cointelegraph.com Crypto Breaking News | September 30, 2021 at 9:44 am | Categories: Ethereum, News | URL: https://wp.me/papzAO-pUF Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/nft-trading-game-axie-infinity-launches-axs-staking-program/

Crypto Breaking News posted: "The Reserve Bank of New Zealand (RBNZ) published an issue paper providing its perspective on central bank digital currencies (CBDC).The paper outlines CBDC purposes, designs, as well as the potential benefits and associated risks. The bank will be se" New post on Crypto Breaking News New Zealand central bank releases issue paper on digital currency by Crypto Breaking News The Reserve Bank of New Zealand (RBNZ) published an issue paper providing its perspective on central bank digital currencies (CBDC). The paper outlines CBDC purposes, designs, as well as the potential benefits and associated risks. The bank will be seeking comments on the proposed paper until Dec. 6. The document focuses on a "general-purpose" CBDC that is a digital currency issued to "any individual or business that wants to use it." "Such a 'general-purpose' CBDC would be closer in function to cash and better placed to fulfil the role of central bank money than a 'wholesale' CBDC," RBNZ wrote. The central bank emphasized that a potential New Zealand CBDC would be digital money issued by the bank alongside cash. While the amount of cash in circulation has been growing in New Zealand, it is still used "proportionately less for transactions by most people," the bank noted. "We want people to know that the case for keeping cash is well understood and accepted by the Reserve Bank. Cash is here to stay for as long as some of us need it," RBNZ assistant governor Christian Hawkesby said. The paper also points out two major technological CBDC designs, including an "account-based" CBDC that relies on conventional account-based structures and a "token-based" CBDC, which is enabled by new technologies like blockchain and public-private key cryptography. According to the RBNZ, a token-based CBDC has could enable the automatic execution of certain actions like rent or bill payments through smart contracts, thus reducing the need for manual or third-party involvement. A token-based CBDC could also support the development of new retail payment services, the bank added. Related: CBDCs can cut cross border remittance costs by half: BIS report The central bank also said that its proposed CBDC offers an opportunity to design a form of money that balances interests of both privacy and traceability. "Users may want to retain full privacy in transacting, for either legitimate or unlawful reasons. Meanwhile government agencies may want to retain some traceability of CBDC balances or tokens to reduce tax evasion or avoidance, or money laundering and financing terrorism," RBNZ noted. The RBNZ officially announced its plans to open up public consultations regarding a CBDC in July. Last year, RBNZ Assistant Governor Christian Hawkesby claimed that New Zealand had "no imminent plans" to issue a CBDC. Source: Cointelegraph.com Crypto Breaking News | September 30, 2021 at 9:38 am | Categories: News | URL: https://wp.me/papzAO-pUH Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/new-zealand-central-bank-releases-issue-paper-on-digital-currency/

Crypto Breaking News posted: "The national postal operator of Russia plans to implement a parcel tracking system that will rely on blockchain technology. The introduction of the new service is part of Russian Post's digital transformation strategy and is expected to reduce the " New post on Crypto Breaking News Russian Post to Employ Blockchain Technology in Parcel Tracking by Crypto Breaking News The national postal operator of Russia plans to implement a parcel tracking system that will rely on blockchain technology. The introduction of the new service is part of Russian Post's digital transformation strategy and is expected to reduce the number of lost shipments. Blockchain-Based Tracking System to Help Russian Post Save Time and Resources In the context of efforts to develop its services and improve the efficiency of its logistics, Pochta Rossii, or Russian Post, is considering various options, including the implementation of blockchain technology, a representative of the company told Vedomosti. Quoting the postal operator's Strategy for Digital Transformation, the business daily reported that the first pilots are expected in the coming years. Russian Post intends to introduce its blockchain-based tracking system as early as 2023. The new service will be market-oriented, Director of Digital Products Vladimir Urbansky noted. He further explained that Russian Post is part of a logistics chain, emphasizing that the system will allow it to provide other companies with end-to-end tracking information. Vedomosti quotes a source from the IT industry who commented that the blockchain project aims to limit the number of lost parcels. The expert believes that the new platform can replace Russian Post's existing tracking mechanism and save time and effort in the search for lost items. That also means that fewer people will be involved in the process. The postal operator's digital transformation strategy, including a roadmap for the blockchain tracking service, is currently under review at the Ministry of Digital Development, Communications and Mass Media. A final decision is yet to be taken, Minister Maksut Shadaev told the newspaper. When that happens, the strategy will be presented to the company's Board of Directors. If approved, investments worth 38.2 billion rubles (almost $525 million) will be made by the end of 2025. Russian Post has been eyeing blockchain technologies for some time, the report notes. In October 2017, its director general Nikolai Podguzov revealed plans to implement blockchain solutions to better control the company's financial transactions. "We have 9 billion rubles in transactions every day. In order to ensure the security of these transactions, it is quite possible that we use blockchain technology, and we are working on it," the executive stated, quoted by Tass. During the Russia Calling forum, Podguzov said he expected this could have the effect of improving the quality of postal services. Do you think other postal service providers will turn to blockchain technologies in the future? Tell us in the comments section below. Source: Bitcoin.com Crypto Breaking News | September 30, 2021 at 8:30 am | Categories: News | URL: https://wp.me/papzAO-pUD Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/russian-post-to-employ-blockchain-technology-in-parcel-tracking/

Crypto Breaking News posted: "Grammy nominated super producer team 'Cool and Dre', and developer Peter Parente have introduced their latest project, GreedSwap ($GREED) – one that has a lot of eyes ready and wondering: what's going on and what's next? It was only a matter of time " New post on Crypto Breaking News GreedSwap: Super Producers Cool And Dre Help Launch New Coin & Crypto Record Label by Crypto Breaking News Grammy nominated super producer team 'Cool and Dre', and developer Peter Parente have introduced their latest project, GreedSwap ($GREED) – one that has a lot of eyes ready and wondering: what's going on and what's next? It was only a matter of time before music and the vastly growing cryptocurrency market came together to change the way music is bought and sold to the world. Chess Over Checkers: The Deal And The Plan According to a recent press release, GreedSwap, also known as the $GREED project, announced a new contract on one of the fastest and third largest growing cryptos, Cardano (ADA). This new blockchain will hopefully add value to the growing list of strong projects taken on by the Cardano team. With 2,300 smart contracts getting ready to launch, ADA looks to have a huge year looking forward. For those who have been watching this blockchain and the broader market for some time, you likely understand how important each new partnership and project can be. Related Reading | Why Cardano Bull Trend Isn't Over And 91% Increase Is Imminent, deVere CEO Nigel Green   ADA holding after reaching all time high the past two weeks. | Source: ADA-USD on TradingView.com What makes GreedSwap a potentially important player for Cardano is its versatility, depth and broader ceiling as a company in general. $GREED not only provides a game changing factor for the music industry, but it also provides something for investors, with a deep ecosystem. That ecosystem will include farms, staking pools, a multichain NFT Marketplace, and a major Metaverse build in Decentraland that will include NFT wearables, driveables and NFT keys. These keys will give you VIP access to certain areas in GreedSwap's virtual world that will also include a Greed Music studio where you can watch your favorite musicians and recording artists create music, while also being able to watch them stream live concerts.   Related Reading | Cardano Trends Down, ADA In Danger Of Sliding Back To $2? Only Time Will Tell: The Change We Seek, Or Doom We Meet… This news will hopefully provide a new look at how music can now be shared to the world, allow the ability to connect artists with fans at a new level, and also engage consumers via crypto. Artist and musicians have already taken a likes to the NFT world by collaborating and doing exclusive tracks and albums. Big names in hip-hop especially, such as Curren$y, have gotten involved (Curren$y released an exclusive NFT project titled 'Financial District', and he won't be the last to do this as many artist have taken this approach quite seriously). Other artists, like DJ Premiere have gotten involved with NFTs and crypto as well. The ability to cross promote on a number of different levels beyond music makes it easier for GreedSwap to get its name around to the crypto world. Hopefully it sticks, and we all can see what this company can do to impact a new generation of music. Source: NewsBTC.com Crypto Breaking News | September 30, 2021 at 7:36 am | Categories: News | URL: https://wp.me/papzAO-pUB Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/greedswap-super-producers-cool-and-dre-help-launch-new-coin-crypto-record-label/

Crypto Breaking News posted: "The United Kingdom's central bank is ramping up its research into a central bank digital currency (CBDC) with the selection of a long list of banking and fintech experts to assist it.On Sept. 29 the Bank of England announced the membership of its CBDC Eng" New post on Crypto Breaking News Bank of England unveils all-star payments and tech lineup for CBDC Forums by Crypto Breaking News The United Kingdom's central bank is ramping up its research into a central bank digital currency (CBDC) with the selection of a long list of banking and fintech experts to assist it. On Sept. 29 the Bank of England announced the membership of its CBDC Engagement and Technology Forums and they include some big names in technology and finance including Google, Mastercard, Consensys — and even Spotify. This week's announcement is a signal that the central bank is taking its CBDC plans seriously. It stated that the Technology Forum draws resources from leading experts in the field of digital payments and cryptocurrencies. "The Forum will help the bank to understand the technological challenges of designing, implementing and operating a CBDC." The Engagement Forum includes "senior stakeholders from industry, civil society, and academia," that will assist the bank and Treasury to "understand the practical challenges of designing, implementing and operating a CBDC." Technology experts include PayPal's blockchain and cryptocurrency Chief Technology Officer, Edwin Aoki. Principal Software Engineer at Google, Will Drewry, joins him as does CBDC and Payments Manager Matthieu Saint Olive from Ethereum software solutions firm ConsenSys. The Technology Forum also includes executives and payments experts from Amazon Web Services, MasterCard, Visa, Stripe, IMB, R3, and music streaming platform Spotify. The Engagement Forum is comprised of banking executives and business experts including co-CEO of Global Banking and Markets at HSBC, Georges Elhedery, Morgan Stanley's COO Arun Kohli, and Stephen Gilderdale, Chief Product Officer at interbank communication standard SWIFT. Related: UK chancellor names CBDC on list of financial reforms for Treasury The Bank of England began tentatively researching CBDCs in November 2020 as reported by Cointelegraph. In April, the central bank posted a list of vacancies related to CBDC research and development. It remains skeptical of cryptocurrencies however, with Bank of England Governor Andrew Bailey warning about the risks of trading cryptocurrencies in May, telling investors "buy them only if you're prepared to lose all your money."  Source: Cointelegraph.com Crypto Breaking News | September 30, 2021 at 6:32 am | Categories: News | URL: https://wp.me/papzAO-pUz Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/bank-of-england-unveils-all-star-payments-and-tech-lineup-for-cbdc-forums/

Crypto Breaking News posted: "Ethereum started a fresh increase from the $2,750-2,780 support zone against the US Dollar. ETH price could revisit the main $3,150 resistance zone in the near term. Ethereum started a fresh increase above $3,000 after testing the $2,780 zone. The price " New post on Crypto Breaking News TA: Ethereum Just Reversed But $3,150 Presents A Major Challenge by Crypto Breaking News Ethereum started a fresh increase from the $2,750-2,780 support zone against the US Dollar. ETH price could revisit the main $3,150 resistance zone in the near term. Ethereum started a fresh increase above $3,000 after testing the $2,780 zone. The price is now trading above $3,000 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $2,910 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rise towards the main $3,150 and $3,165 resistance levels in the near term. Ethereum Price Gains Traction Ethereum remained strong near $2,780 and started a fresh increase, similar to bitcoin. ETH was able to clear the $2,880 and $2,950 resistance levels to enter a positive zone. There was a break above a key bearish trend line with resistance near $2,910 on the hourly chart of ETH/USD. The pair surpassed the 50% Fib retracement level of the key decline from the $3,165 swing high to $2,788 low. Ether price is now trading above $3,000 and the 100 hourly simple moving average. It is consolidating near the $3,040 resistance level. The bears seem to be protecting the 61.8% Fib retracement level of the key decline from the $3,165 swing high to $2,788 low. Source: ETHUSD on TradingView.com The first major resistance is near the $3,075 level. The main resistance is still near the $3,150 and $3,165 levels. A break above $3,150 and $3,165 could start a steady increase. The next key resistance is near $3,200, above which the price might accelerate higher. Dips Limited in ETH? If ethereum fails to continue higher above the $3,050 and $3,075 resistance levels, it could start a fresh downside correction. An initial support on the downside is near the $2,975 level. The first key support is now forming near the $2,950 level and the 100 hourly simple moving average. If ether fails to stay above $2,950, there is a risk of a larger decline. In the stated case, the price might slide towards the $2,800 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is well above the 50 level. Major Support Level – $2,950 Major Resistance Level – $3,075 Source: NewsBTC.com Crypto Breaking News | September 30, 2021 at 6:28 am | Categories: Ethereum, News | URL: https://wp.me/papzAO-pUx Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/ta-ethereum-just-reversed-but-3150-presents-a-major-challenge/

Crypto Breaking News posted: "The Commodity Futures Trading Commission (CFTC) has charged 12 New York-based crypto options businesses with allegedly failing to register with the regulatory body. In a Sept. 29 press release, the CFTC outlined that it is charging 14 entities in total, w" New post on Crypto Breaking News CFTC charges 12 New York crypto options businesses with failing to register by Crypto Breaking News The Commodity Futures Trading Commission (CFTC) has charged 12 New York-based crypto options businesses with allegedly failing to register with the regulatory body. In a Sept. 29 press release, the CFTC outlined that it is charging 14 entities in total, with the 12 crypto-focused firms all on the hook for failing to register as futures commission merchants (FCMs). All of the firms were "allegedly based in New York." The other two companies have allegedly posted misleading information about their National Futures Association (NFA) membership and registration with the CFTC. The listed crypto options providers include relatively unknown names such as Bitfxprofit, Star FX Pro, Smarter Signals and BinanceFx Trade — the latter of which is unaffiliated to the major global exchange Binance despite its name. "Today's actions reflect the CFTC's dedicated efforts to aggressively root out bad actors falsely claiming to hold legitimate registrations and protect the trading public," said Division of Enforcement Acting Director Vincent McGonagle. Firms offering exposure to commodities via futures are required to register as an FCM with the CFTC. The commission regulates the scope of derivatives markets which includes futures contracts, options and swaps, but does not oversee the spot markets for ordinary traders. The derivatives market regulator has had a busy week after it slammed the enforcement hammer down on Kraken on Tuesday, ordering it to pay $1.25 million worth of civil penalties over allegations of Commodity Exchange Act. violations. On Sept. 28 Cointelegraph reported that CFTC commissioner Dan Berkovitz will be joining the Securities and Exchange Commission (SEC) as general counsel following his departure in October. Berkovitz will reportedly work with SEC chair Gary Gensler on a "regulatory agenda that will enhance investor protection." Related: CFTC commissioner: Agency doesn't have enforcement resources without Congress Last month, crypto derivatives exchange BitMEX agreed to pay a civil penalty of $100 million to the CFTC and FinCEN for "for illegally operating a cryptocurrency trading platform and anti-money laundering violations." Source: Cointelegraph.com Crypto Breaking News | September 30, 2021 at 6:05 am | Categories: News | URL: https://wp.me/papzAO-pUt Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/cftc-charges-12-new-york-crypto-options-businesses-with-failing-to-register/

Crypto Breaking News posted: "PRESS RELEASE. Singapore, September 30, 2021. Less than three weeks after releasing its first dApp EverOwn for Binance Smart Chain, EverRise is proud to announce they will launch EverBridge to both the Ethereum and Polygon blockchains on October 5th. With" New post on Crypto Breaking News EverRise Brings Buyback Token and Ecosystem of dApps to Polygon and Ethereum by Crypto Breaking News PRESS RELEASE. Singapore, September 30, 2021. Less than three weeks after releasing its first dApp EverOwn for Binance Smart Chain, EverRise is proud to announce they will launch EverBridge to both the Ethereum and Polygon blockchains on October 5th. With EverBridge, EverRise will make its revolutionary suite of dApps available to projects on both networks starting with EverOwn for Ethereum on October 5th, followed by EverOwn for Polygon on October 8th. This will expand the reach of EverRise's security solutions and enable the $RISE token to be traded and utilized across all three networks. "This is an exciting time for us to expand the EverRise Ecosystem and also introduce improvements to our project. This bridge allows us to take the dApps and blockchain solutions we have been building and make them more accessible to all developers on the Binance Smart Chain, Polygon, and Ethereum networks," said Suresh Maddineni, EverRise CEO and Founder. Keeping with the standard of being security pioneers in the DeFi space, EverRise is bringing a novel approach to the cross-chain bridge concept to protect $RISE holders. Typically tokens are minted and burned as they move between chains, but EverRise is creating new smart contracts and locking the supply within the bridge: allowing holders to transfer tokens on one chain to the bridge and receive tokens on another chain without paying a transaction tax beyond gas fees. This locking and unlocking mechanism on the bridge makes it impossible for hackers to exploit a mint function to mint an infinite number of tokens while keeping the circulating supply the same across the three different networks– effectively creating three different $RISE pairings with one circulating supply. When EverRise launched on June 15, 2021, the project immediately became famous for being the first to introduce the concept of a strategic buyback to crypto and has been forked thousands of times. With EverBridge, EverRise will introduce separate Strategic Buyback Reserves and automatic buyback functions to each network. Like on BSC, the Ethereum and Polygon Strategic Buyback Reserves will be locked and only able to buy and burn $RISE tokens on the respective network and debut a new feature of the ability to swap the native coin in the reserves for a stable coin. New trading pairs of RISE/ETH and RISE/MATIC will have their initial liquidity funded by EverRise and will be fair launched on October 5th, 2021 with no presale. Users will be able to trade the ETH backed pair on Uniswap and the MATIC backed pair on QuickSwap. RISE/ETH – Tokenomics – 6% Tax 1% Rewards to Holders 2% Project Sustainability: Operations, Marketing, Development 3% Buyback Strategic Funds RISE/MATIC – Tokenomics – 11% Tax (Same tax as Binance Smart Chain) 2% Rewards to Holders 3% Project Sustainability: Operations, Marketing, Development 6% Buyback Strategic Funds EverRise will also be making EverBridge available to projects on the Binance Smart Chain, Ethereum, and Polygon looking to access the other blockchains without the hassle of developing their own bridge. Projects interested in utilizing EverBridge can contact the EverRise team at partnerships@everrise.com   About EverRise A blockchain technology start-up committed to bringing security solutions to the DeFi space through an ecosystem of decentralized applications (dApps). EverRise was the first token to bring the buyback to cryptocurrency with the novel function that purchases tokens from the open market and immediately burns them. $RISE tokens are required to utilize their dApps, with EverOwn released in September and more coming soon. EverRise aims to bring additional levels of trust, safety, and security to Binance Smart Chain, Ethereum, and Polygon space.   This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. Source: Bitcoin.com Crypto Breaking News | September 30, 2021 at 6:00 am | Categories: News, Press Release | URL: https://wp.me/papzAO-pUr Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/everrise-brings-buyback-token-and-ecosystem-of-dapps-to-polygon-and-ethereum/

Crypto Breaking News posted: "Layer two protocols have seen monumental growth this year and one of them has briefly surpassed the network it is a scaling solution for, in terms of active addresses.The number of daily active unique addresses on layer two aggregator Polygon has surpasse" New post on Crypto Breaking News Polygon briefly overtakes Ethereum for active addresses after 330% surge by Crypto Breaking News Layer two protocols have seen monumental growth this year and one of them has briefly surpassed the network it is a scaling solution for, in terms of active addresses. The number of daily active unique addresses on layer two aggregator Polygon has surpassed those on the high fee layer one Ethereum according to protocol co-founder Mihailo Bjelic. According to his stats, Polygon had 351,000 daily active addresses on Sept. 27 whereas Ethereum had 326,000. Another huge milestone for @0xPolygon! We eclipsed Ethereum L1 in daily active addresses for the first time! This is just the beginning. We are working round the clock to improve our tech, strengthen our ecosystem and increase adoption. Let's bring the world to Ethereum! pic.twitter.com/K4sAF1y3LT — Mihailo Bjelic (@MihailoBjelic) September 29, 2021 According to Polygonscan, the number of active addresses skyrocketed on Sept. 20, hitting a peak of 426,586 on the 27th before falling back slightly to 385,740. Etherscan is reporting that Ethereum's daily active address count was 457,402 on Sept. 29 so the two are pretty evenly matched at the moment. The number of active addresses on Polygon has surged 330% over the past 3 months whereas Ethereum's have actually declined by 12% for the same metric over the same period. In terms of cumulative unique addresses, Ethereum is way ahead with 170.8 million as of Sept. 29 according to Etherscan, while Polygon had 89 million total district addresses yesterday. However, Matic only rebranded to Polygon and launched in February so its growth has occurred over a shorter  period of time. Polygon has a greater number of transactions at present according to Polygonscan with 5.7 million total transactions recorded for Sept. 29 compared to 1.1 million on Ethereum layer one. This can largely be attributed to Ethereum's high fees which have increased again recently. DeFiLlama currently reports that the total value locked of all protocols on Polygon is $4.81 billion, however it has more than halved since its mid-June all-time high of $10.54 billion. The most popular protocol on the network is flash loan platform Aave which has $1.77 billion TVL, or 37% of the total. Related: Polygon active users grow by 75,000 as DeFi boom continues Polygon received a massive endorsement in May when billionaire investor Mark Cuban added it to his portfolio. Its native token, which is still called MATIC, has gained 5.2% over the past 24 hours to reach $1.14 according to CoinGecko. Ethereum transaction fees have skyrocketed again in recent days which has contributed to the surge in activity on layer two protocols. According to Bitinfocharts, the average transaction price on the Ethereum network is currently around $23. More complex operations such as DEX token swapping or smart contract interactions can cost as much as $66 in gas according to Etherscan. Source: Cointelegraph.com Crypto Breaking News | September 30, 2021 at 5:58 am | Categories: Ethereum, News | URL: https://wp.me/papzAO-pUv Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/polygon-briefly-overtakes-ethereum-for-active-addresses-after-330-surge/

Crypto Breaking News posted: "Twitter has unveiled an in-development tool that will enable users to display a verified NFT as their profile picture.Mada Aflak, a senior software engineer at Twitter, shared a video demonstrating functionality that allows users to add NFTs to their acco" New post on Crypto Breaking News Bragging rights: Twitter previews verification badge for NFT profile pics by Crypto Breaking News Twitter has unveiled an in-development tool that will enable users to display a verified NFT as their profile picture. Mada Aflak, a senior software engineer at Twitter, shared a video demonstrating functionality that allows users to add NFTs to their accounts. Users can simply edit their profile, connect a cryptocurrency wallet, and import their OpenSea collection. Then, they can choose an avatar from their collection of non-fungible token (NFT) digital art. The profile picture will also be marked with a badge to verify that the image is the genuine article, thereby allowing them to flex their hugely expensive CryptoPunk or Bored Ape profile picture and have everyone know it's legit. Aflak stated that the run-through was just an experiment using a mock-up, so anything could change, and she called on users to submit feedback and suggestions. As promised, here is the first experiment. Feedbacks and ideas are welcome 🙂 https://t.co/TDyhibCXfG pic.twitter.com/2ifru9T2Pa — Mada Aflak (@af_mada) September 29, 2021 While the verified profile pic is generating all the excitement so far, Messari Research Analyst Mason Nystrom speculated on other potential applications of Twitter integrating crypto wallets. These could include verifying how long a user has owned an asset, recommending follows for other NFT owners, buying and selling directly from Twitter profiles, and creating social graphs of NFT owners. It's the latest crypto-friendly move from Twitter which last week integrated Lightning payments with Twitter profiles, enabling users to send and receive Bitcoin for tips or other payments. CEO Jack Dorsey has long been a supporter of Bitcoin and promoting it via the platform. Dorsey also famously sold the first-ever Tweet as an NFT. OpenSea saw a gigantic $4 billion worth of sales in August, but sales pulled back in September with around $2.45B sales in the past 30 days, according to DappRadar. Source: Cointelegraph.com Crypto Breaking News | September 30, 2021 at 5:36 am | Categories: News | URL: https://wp.me/papzAO-pUp Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/bragging-rights-twitter-previews-verification-badge-for-nft-profile-pics/

Crypto Breaking News posted: "According to a report published by the Bank of International Settlements (BIS) and a group of central banks, digital currencies can lead to faster settlement and cheaper transfers. Moreover, the banking group leveraged a prototype that shows how money tra" New post on Crypto Breaking News 'Faster and Cheaper Cross-Border Transfers' — Banking Report Led by BIS Highlights the Benefits of Cryptocurrency by Crypto Breaking News According to a report published by the Bank of International Settlements (BIS) and a group of central banks, digital currencies can lead to faster settlement and cheaper transfers. Moreover, the banking group leveraged a prototype that shows how money transfers can be done in seconds with very little processing fees. Inexpensive Transfers & Speed: Bank of International Settlements Report Says Digital Currencies Can Be More Effective During the second week of September, the head of the Bank of International Settlements (BIS) Innovation Hub, Benoît Cœuré, explained that central banks need to act quickly in order to develop central bank digital currencies. Cœuré stressed that a digital currency economy already exists and "CBDCs will take years to be rolled out." Following Cœuré's statements, BIS, alongside four central banks from the United Arab Emirates, Hong Kong, China, and Thailand, is embarking on a digital currency experiment. The banking group produced a prototype and published a report that detailed the group's findings after testing the "multiple central bank digital currency bridge project (mBridge)." Bénédicte Nolens, the head of the Hong Kong center of BIS Innovation Hub, explained that digital currencies can be more effective for the banking system and would be beneficial to the economy in general. "Enabling faster and cheaper cross-border wholesale payments, including to jurisdictions that don't benefit from a vibrant correspondent banking system, would be positive for trade and economic development," Nolens said in a statement published on Monday. The prototype used by the BIS researchers and collaborating central banks was built on Ethereum's Hyperledger Besu blockchain. Banking Group Plans to Continue Distributed Ledger Technology Prototype Research Until a 'Production-Ready' Solution Is Created Testing showed that distributed ledger technology (DLT) cuts the cost of cross-border exchange by half and settlement speeds take mere seconds. The report said that the mBridge team aims to keep working on the DLT going forward. The group plans to address legal issues and jurisdiction hurdles in order to develop a "production-ready digital currency solution." The mBridge project is being developed in the midst of China getting prepared to launch the digital yuan as the CBDC nears completion. The mBridge collaboration was previously dubbed "Project Inthanon-LionRock" and it was started by the Bank of Thailand and Hong Kong's Monetary Authority. The two banks published joint research in 2020 after testing a number of technologies. The report notes that the DLT model research involved ten smaller bank branches from two different locations. What do you think about BIS and the four central banks saying that digital currency transactions are faster and cheaper? What do you think about the mBridge DLT prototype? Let us know what you think about this subject in the comments section below. Source: Bitcoin.com Crypto Breaking News | September 30, 2021 at 5:30 am | Categories: News | URL: https://wp.me/papzAO-pUn Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/faster-and-cheaper-cross-border-transfers-banking-report-led-by-bis-highlights-the-benefits-of-cryptocurrency/

Crypto Breaking News posted: "Kraken Security Labs has said that a "large number" of Bitcoin ATMs are vulnerable to hacking as the administrators never changed the default admin QR code. In a Sept. 29 blog post, Kraken posted research from its Security Labs team which found that there" New post on Crypto Breaking News Vulnerable: Kraken reveals many US Bitcoin ATMs still use default admin QR codes by Crypto Breaking News Kraken Security Labs has said that a "large number" of Bitcoin ATMs are vulnerable to hacking as the administrators never changed the default admin QR code. In a Sept. 29 blog post, Kraken posted research from its Security Labs team which found that there are "multiple hardware and software vulnerabilities" in the General Bytes BATMTwo ATM range. "Multiple attack vectors were found through the default administrative QR code, the Android operating software, the ATM management system and even the hardware case of the machine," the post read. Kraken's security team stated that if a hacker gets their hands on the administrative code, they can essentially "walk up to an ATM and compromise it," while also highlighting issues with the BATMtwo's lack of secure boot mechanisms, as well as "critical vulnerabilities" in the ATM's management system. However, General Bytes has reportedly already alerted ATM owners to the vulnerabilities: "Kraken Security Labs reported the vulnerabilities to General Bytes on April 20, 2021, they released patches to their backend system (CAS) and alerted their customers, but full fixes for some of the issues may still require hardware revisions." The team also found that it was able to gain full access to the Android operating system behind the BATMTwo ATM by simply attaching a USB keyboard to the machine, and warned that "anyone" could "install applications, copy files or conduct other malicious activities." General Bytes is headquartered in the Czech Republic and, according to Coin ATM Radar, there are currently 6391 General Bytes ATMs installed worldwide, which represents 22.7% of the global market. However, those figures also account for BATMThree machines which weren't reported on by Kraken. The majority of the BATM ATMs are located in the U.S. and Canada, with a combined figure tallying in at around 5300, while Europe has around 824 ATMs installed. Kraken is calling on BATMTwo owners and operators to change the default QR admin code, update the CAS server and place the ATMs in visible locations for security cameras. Related: El Salvador ranks third in global Bitcoin ATM installations, data finds Bitcoin ATM scams While reports of hacked Bitcoin ATMs appear to be minimal, there is a history of crafty individuals building scams around crypto ATMs. In March of 2019, the Toronto Police issued a public statement calling on the community to locate four men suspected of carrying out a series of "double-spending" transactions that fetched $150,000 worth of funds over a 10-day window. Double spending consists of canceling transactions before the ATM has had a chance to confirm but keeping the dispensed cash. The Oakland Press reported on June. 22 of this year that two women from Berkley were scammed out of a combined $15,000 after fraudsters posed as public safety officers and federal employees. The scammers reportedly told the victims that they had outstanding warrants and tax violations, and ordered them to pay fines via local Bitcoin ATMs in the area. And Malwarebytes posted research in August which uncovered a trend of gas station Bitcoin ATM scams in which threat actors would post fake jobs listings to dupe applicants into money laundering. Source: Cointelegraph.com Crypto Breaking News | September 30, 2021 at 4:45 am | Categories: News | URL: https://wp.me/papzAO-pUl Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/vulnerable-kraken-reveals-many-us-bitcoin-atms-still-use-default-admin-qr-codes/

Crypto Breaking News posted: "Despite Beijing's ever-increasing crackdown on the crypto industry, there are still some signs of life in the People's Republic regarding the Bitcoin network and OTC trading.China intensified its clampdown on crypto last week in an effort to suppress any " New post on Crypto Breaking News China's crypto holdouts: Bitcoin nodes and OTC desks struggle on by Crypto Breaking News Despite Beijing's ever-increasing crackdown on the crypto industry, there are still some signs of life in the People's Republic regarding the Bitcoin network and OTC trading. China intensified its clampdown on crypto last week in an effort to suppress any remaining activity related to digital assets within its borders. The regime specifically targeted crypto transactions, but as researched by Cointelegraph, this action is nothing new with at least 19 similar crackdowns over the past decade or so. Despite the latest move, there are still 135 Bitcoin nodes in operation in China according to data from Bitrawr which measures nodes by geographical location. However, this is just 1.21% of the total 11,262 Bitcoin nodes spread across the planet. There may be more if they are operating behind virtual private networks (VPNs) and/or using onion routing with Tor which masks locations Bitcoin nodes are the software that runs the protocol, containing the full ledger or a segment of it containing a history of the transaction data. Distributed and decentralized systems are specifically designed to be hard to shut down completely so the regime may struggle to extinguish these final few hangers-on or those operating via Tor. While it's difficult to put figures on the volume due to its opaque nature, over-the-counter (OTC) trading is also maintaining a foothold in China according to various reports as is the local currency pair. Local media outlet Wu Blockchain reported that the RMB/USDT pair, which is still offered by major exchanges such as OKEx and Huobi, has been trading at a premium. He noted panic selling last week, which has since subsided. OKEx is currently offering 6.35 yuan for 1 USDT where the actual exchange rate for a greenback is 6.47 according to XE.com. Related: Institutional investors bought the dip as China FUD broke OTC trades are carried out peer-to-peer which circumvents the usage of a bank or the spot markets on centralized exchanges — though many exchanges do have related OTC desks. According to Coindance, volumes in China have been relatively stable since early 2020 with around 7 million Yuan (around $US1 million) being traded per week on P2P platform Localbitcoins. Localbitcoins volume CNY - coin.dance Former CEO of China's first crypto exchange BTCC, Bobby Lee, thinks that Beijing will target OTC desks in its next crackdown. Earlier this week, he said that OTC platforms that are operated by the big exchanges will be closed down or forced to exclude Chinese users. Speaking to Bloomberg on Sept. 29, Lee added: "They really don't want any loopholes where people can use a digital currency as a vehicle to move assets abroad." He followed that up with a prediction that BTC markets are due another FOMO rally that could send prices to $200,000. Source: Cointelegraph.com Crypto Breaking News | September 30, 2021 at 4:14 am | Categories: Bitcoin, News | URL: https://wp.me/papzAO-pUh Comment    See all comments Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/chinas-crypto-holdouts-bitcoin-nodes-and-otc-desks-struggle-on/

Crypto Breaking News posted: "Bitcoin price remained well bid above the $40,750 support against the US Dollar. BTC seems to be forming a bottom near $40,750 and it could start a strong rally. Bitcoin recovered above the $41,500 and $42,000 resistance levels. The price is now trading " New post on Crypto Breaking News TA: Bitcoin Regains Strength, Why Crypto Market Could Rally In Near Term by Crypto Breaking News Bitcoin price remained well bid above the $40,750 support against the US Dollar. BTC seems to be forming a bottom near $40,750 and it could start a strong rally. Bitcoin recovered above the $41,500 and $42,000 resistance levels. The price is now trading above $42,500 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $42,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could accelerate further higher towards the $44,200 resistance zone in the near term. Bitcoin Price Gains Pace Bitcoin price remained strong above the $40,750 support level. As a result, BTC started a fresh increase above the $41,500 resistance level. There was a clear break above the $42,000 level and the 100 hourly simple moving average. Besides, there was a break above a key bearish trend line with resistance near $42,200 on the hourly chart of the BTC/USD pair. The pair climbed above the 50% Fib retracement level of the key decline from the $44,325 swing high to $40,771 low. Bitcoin is now trading above $42,500 and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $43,200 level. Source: BTCUSD on TradingView.com The first major resistance is near the $43,500 level. It is close to the 76.4% Fib retracement level of the key decline from the $44,325 swing high to $40,771 low. The next major resistance is near the $44,350 level, above which the price could accelerate higher. In the stated case, it could test the $45,500 resistance. Fresh Decline In BTC? If bitcoin fails to clear the $43,500 resistance zone, it could start a fresh downside correction. An immediate support on the downside is near the $42,800 level. The first major support is now forming near the $42,500 level and the 100 hourly simple moving average. A break below the $42,500 level might push the price towards the $41,500 level. The main breakdown support is still near the $40,750 zone, below which there could be a sharp decline in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 50 level. Major Support Levels – $42,500, followed by $41,500. Major Resistance Levels – $43,500, $44,350 and $45,500. Source: NewsBTC.com Crypto Breaking News | September 30, 2021 at 4:08 am | Categories: Bitcoin, News | URL: https://wp.me/papzAO-pUj Unsubscribe to no longer receive posts from Crypto Breaking News. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptobreaking.com/ta-bitcoin-regains-strength-why-crypto-market-could-rally-in-near-term/