Crypto Shuttle News

Tag: Aug

  • $wLITI Joins Changelly PRO Family of Tokens, Trading with BTC and USDT Pairing | by Bit Media Buzz | Aug, 2021

    $wLITI Joins Changelly PRO Family of Tokens, Trading with BTC and USDT Pairing | by Bit Media Buzz | Aug, 2021

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    Bit Media Buzz

    Geneva, Switzerland, August 30, 2021 — Liti Capital’s wLITI token, a wrapped version of the Swiss company’s LITI equity token, lists today on Changelly PRO, 30 August 3 PM UTC. $wLITI pairs with BTC and USDT are now available for trading.

    This comes less than a week after listing on Bitcoin.com Exchange and less than two weeks on HitBTC. The Changelly PRO team has expressed their warm welcome to the litigation financing token.

    “We are happy to welcome $wLITI to our big family of carefully curated cryptocurrencies and hope that our users will gain maximum benefits from this collaboration. We are proud to partner with a company that provides financial resources, strategic solutions and renowned connections to the best law firms worldwide to help plaintiffs obtain court awards for damages or losses they have suffered,” says the Changelly PRO spokesperson.

    Liti Capital, a Swiss-based blockchain private equity fund specializing in raising capital for legal cases, is making waves in traditional investing by bringing litigation financing to the masses, an investment practice traditionally monopolized by hedge fund heavyweights and elite investors.

    Litigation financing is the practice of bringing in investors to cover the cost of a lawsuit or arbitration in exchange for a portion of the profit. Litigation financing specialists, such as Liti Capital, purchase litigation assets for cases they deem to have a high chance of winning.

    “We appreciate the amazing support that established exchanges such as Changelly PRO have shown for our $wLITI token. With high profile projects in the blockchain and decentralized finance spaces finally attracting mainstream interest, we are excited to explore the possibilities for $wLITI as a wrapped version of an equity token that offers regular people the chance to invest in an asset class that previously wasn’t available to them,” says Liti Capital CEO Jonas Rey.

    wLITI is an ERC-20 wrapped version of the LITI equity token. Launched on June 29, 2021, the wLITI token is suitable for trading on centralized exchanges (CEXes) like Changelly PRO, and also on DEXes, whereas the LITI token is only available through liticapital.com after meeting KYC requirements.

    Liti Capital uses the blockchain to manage its share registry. Development of its own blockchain-based case management tools is on its roadmap.

    wLITI can be exchanged for LITI at a token buyer’s request via Liti Capital’s app or website, which converts LITI to wLITI at a 1:5000 ratio and vice versa. The tokens will always maintain this ratio. The buyer is then able to trade their wLITI freely. Liti Capital does not directly sell wLITI.

    LITI is a true digital share of Liti Capital that has voting rights, pays dividends and is protected under Swiss law. LITI is purposely not designed to be on exchanges at this time.

    Both tokens represent Liti Capital, whose mantra is “Private Equity for All.” Liti Capital works exclusively in a single form of private equity — Litigation Finance, also called third party funding. This asset class has remained almost entirely exclusive to hedge funds and venture capitalists since its inception several decades ago. Litigation Finance is the practice of financing all or part of a legal case on behalf of a plaintiff for an agreed upon percentage of the court award.

    Once Liti Capital purchases a portion of ownership of a case, it provides capital that can be used in many ways: legal fees, case management and strategy, expert witnesses, intelligence work and whatever else is needed to give the plaintiff the best chance of winning the case and collecting the award. The portion owned by Liti Capital becomes a “litigation asset” that backs the LITI token.

    On 19 August 2021, Liti Capital announced that it was funding a claim against Binance, which would enable affected individuals to pursue compensation in relation to the exchange failing on 19 May 2021. This failure resulted in the trading accounts (including Futures, Margin, and Leveraged Token products) of at least 700 and potentially thousands of individuals being effectively untradeable for hours, causing traders to suffer losses that could exceed one hundred million dollars.

    Listing Details

    Trading Opening: Aug. 30, 2021 3 PM UTC

    Trading Pairs: wLITI/BTC | wLITI/USDT

    About Liti Capital

    Switzerland-based Liti Capital is a Swiss limited liability company specializing in litigation finance and fintech. Liti Capital buys litigation assets to fund lawsuits and provides a complete strategic solution along with connections to top law firms to help clients win their cases. Tokenized shares of the company lower the barrier of entry for retail investors and give token holders a vote in the company’s decision-making process. Dividends are distributed to LITI token holders upon the success of the plaintiff. Jonas Rey, co-founder of Liti Capital, also heads Athena Intelligence, one of the most successful intelligence agencies in Switzerland. His two co-founders, Andy Christen and Jaime Delgado, bring operational, innovation and technical skills to round out the leadership team.

    Liti Capital recently onboarded seasoned industry leader David Kay as chief information officer and executive chairman. Boasting more than a decade of experience as funding partner and portfolio manager of a billion-dollar private equity fund in the litigation financing space, Kay successfully enforced what was at the time the largest international arbitration award in history, bringing in over $1 billion in cash and securities.

    For project information, please read the Whitepaper.

    For token distribution, please read Tokenomics.

    Liti Capital Official Channels

    Liti Capital Website: https://liticapital.com

    Liti Capital Telegram: https://t.me/Liti_Capital_Official

    Liti Capital Telegram Announcements: https://t.me/Liti_Capital_Official_ANN

    Liti Capital LinkedIn: https://www.linkedin.com/company/liti-capital

    Liti Capital Twitter: https://twitter.com/liticapital

    Liti Capital Medium: https://medium.com/@liticapital

    Liti Capital Reddit: https://www.reddit.com/r/liticapital

    About Changelly

    Changelly provides an ecosystem of products and services that enables customers to have a one-stop-shop experience when engaging with crypto.

    Operating since 2015, Changelly acts as an intermediary between crypto exchanges and users, offering access to 200+ cryptocurrencies that can be effortlessly swapped within 10 minutes on desktop and on the go via the Changelly mobile app.

    In 2020, Changelly branched out to accommodate the needs of traders. Changelly PRO has been built as a platform focused on the customer’s needs, effectively enabling retail buying and selling of digital tokens and coins. Piggy-backing on the great support system found within Changelly, Changelly PRO will provide the community with high limits, effective pricing, fast execution and 24/7 live support.

    Learn more about Changelly:

    Changelly Website: changelly.com

    Changelly PRO website: pro.changelly.com

    Twitter: twitter.com/Changelly_team



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  • Ethical Platform MRHB DeFi Partners Coinsbit India, Bringing Halal Crypto to India’s 200 Million Muslims | by Bit Media Buzz | Aug, 2021

    Ethical Platform MRHB DeFi Partners Coinsbit India, Bringing Halal Crypto to India’s 200 Million Muslims | by Bit Media Buzz | Aug, 2021

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    Bit Media Buzz

    Melbourne, Australia, Aug. 30, 2021 — The world’s first halal DeFi ecosystem MRHB DeFi is collaborating with leading Indian cryptocurrency trading platform Coinsbit to bring crypto-asset opportunities to India’s huge population of 200 million Muslims, driving further participation in the blockchain economy.

    MRHB DeFi’s vision of an inclusive crypto-verse, follows Islamic ethical finance principles but is suitable for those looking for a socially conscious blockchain that avoids interest, usury, exploitation and other business practices deemed unethical.

    Being Halal means that MRHB DeFi operates within the highly ethical constraints of Shariah law which broadly implies that all business decisions are conducted in conjunction with Islamic teachings which promote inclusion, access, and faith, and function simply and transparently for the benefit of its users.

    A Visionary Partnership to Serve 200 Million Muslims

    India is home to 200 million Muslims constituting 10% of the global population and is the world’s third-largest Muslim community. This group is often excluded from the cryptoverse due to their faith-driven principles regarding financial and business conduct.

    What this partnership means:

    • Coinsbit would be the first Indian exchange to introduce a certified Shariah-compliant project to the Muslim Community. MRHB will conduct an initial exchange offering (IEO) on the Coinsbit Exchange during launch and introduce the blockchain’s native token, $MHB (Marhaba Token), to the global community

    A Shared Mission for an Inclusive Cryptoverse

    “Blockchain and DeFi have exploded in popularity in 2021, and we forecast this stratospheric growth to continue. That’s why we’re excited to be teaming up with one of India’s premier cryptocurrency exchanges to offer MRHB DeFi products and services to everyone across the Indian subcontinent who are looking for a true, ethical alternative to the existing platforms in the cryptoverse,” says Naquib Mohammed, MRHB DeFi Founder & CEO.

    “Blockchain offers amazing potential for all communities. We aim to deliver this potential to those who may have previously struggled to access or been cautious to use DeFi products and services. We also hope to provide them with all of the rich opportunities for growth, expansion and development that DeFi offers,” adds Naquib.

    “We’re excited about embarking on this shared journey with MRHB. Islamic DeFi and Shariah-based crypto financial products are an area of extraordinary growth and potential for India. We’re committed to delivering MRHB DeFi’s visionary range of services and products to our clients across our continent,” says Ravneet Kaur, CEO of Coinsbit India.

    She continues, “The time is right for a blockchain project that is based on the tenets of faith, inclusion and access for all, while being transparent and simple to use. MRHB DeFi has demonstrated to us that they are committed to a long-term vision for ethical people around the world no matter what their faith is.”

    Asian countries are outpacing the rest of the world in terms of cryptocurrency adoption and India has ranked second in the global cryptocurrency adoption index, according to the 2021 Global Crypto Adoption Index by blockchain data platform Chainalysis. Indians have invested more than five times the amount of the previous year and the momentum is encouraging.

    Crypto adoption is on the rise in India and the Indian exchanges WazirX, CoinDCX and Coinswitch Kuber have doubled their user base between January and March 2021.

    Coinsbit India started its operations recently and has already captured market attention by onboarding a million users in around three months.

    About MRHB DeFi

    MRHB DeFi is a halal, decentralised finance platform built to embody the true spirit of an “Ethical and Inclusive DeFi” by following faith-based financial and business principles, where all excluded communities can benefit from the full empowerment potential of DeFi.

    Based on the tenets of blockchain such as trust, transparency, and security, MRHB DeFi has encapsulated universally applicable principles of Shariah into those tenets of blockchain to render a suite of offerings. It is a complete DeFi ecosystem whose products, protocols and crypto-assets are governed primarily by the ethical, inclusive, sustainable and charitable investment principles associated with the Islamic faith or ‘Islamic Finance’ (‘IF’ as it is commonly known).

    The diverse team is comprised of researchers, technocrats, influencers, Islamic fintech experts & business entrepreneurs, who came together to ensure that MRHB DeFi prevails in a manner that will impact society as a whole, essentially bridging the gap between the faith-conscious communities and the blockchain world.

    Read more about MRHB DeFi’s Shariah Concept Paper, Lite and White Paper here.

    MRHB DeFi Official Channels

    Website: https://marhabadefi.com

    Twitter: https://twitter.com/marhabadefi

    Telegram: https://t.me/mdf_official

    Telegram Announcements: https://t.me/marhabadefi_ANN

    YouTube: https://www.youtube.com/channel/UCHuvZG9DbS5ffeoqLX_bERg

    Medium: https://medium.com/@marhabadefi

    LinkedIn: https://www.linkedin.com/company/marhabadefi

    About Coinsbit India

    Since its inception in 2017, Coinsbit has been one of the most trusted exchange platforms for cryptocurrency traders from around the world. Coinsbit India aims to become the leading trading platform for the Indian market, which is just beginning to realize the potential of cryptocurrencies. It always works according to the guidelines set by the government of India. Coinsbit India is committed to providing a service, reliability and convenience that cannot be matched by any other platform, and as one of the world’s largest cryptocurrency exchanges, is proud to represent India.

    Coinsbit India Official Channels

    Website: https://coinsbit.in

    Telegram: https://t.me/CoinsbitIndiaChannel

    Twitter: https://twitter.com/CoinsbitIndia

    Facebook: https://www.facebook.com/CoinsbitIndia

    Instagram: https://www.instagram.com/coinsbitindia



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  • Interested in DeFi and Ethics? Marhaba DeFi speakers featured at Islamic Fintech Leaders Forum 2021 and Digital Banking: The Way Forward | by Bit Media Buzz | Aug, 2021

    Interested in DeFi and Ethics? Marhaba DeFi speakers featured at Islamic Fintech Leaders Forum 2021 and Digital Banking: The Way Forward | by Bit Media Buzz | Aug, 2021

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    Bit Media Buzz

    For ethics-based investment enthusiasts, here are two events to check out, solely because speakers from the first Shariah-compliant DeFi project, MRHB DeFi will be speaking there.

    Islamic Fintech Leaders Forum 2021

    To access event platform:

    More info on event: https://emnesevents.com/fintech-islamic-leaders-forum/

    Spotlight on:

    MRHB DeFi’s Chairman of Shariah Board, Dr. Farrukh Habib, who will be holding a blockchain panel discussion today 25th August at 12:05 PM (UAE Time) at Islamic Fintech Leaders Forum, and Shariah Leaders Discussion session at 04:00 PM (UAE Time).

    And MRHB DeFi’s Chairman of Governance Board, Khalid Howlader, who is also the Senior Managing Director and Head of Credit & Sukuk for R.J. Fleming & Co. for institutional and sovereign clients. With his global perspectives, he is a recognised authority in his field and has addressed investors worldwide as well as audiences at the World Bank, IMF, ECB and IIF.



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  • Liti Capital’s Wrapped LITI (wLITI) lists on Bitcoin.com Exchange | by Bit Media Buzz | Aug, 2021

    Liti Capital’s Wrapped LITI (wLITI) lists on Bitcoin.com Exchange | by Bit Media Buzz | Aug, 2021

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    Liti Capital is now trading on Bitcoin.com Exchange

    Geneva, Switzerland, August 24, 2021 — Liti Capital’s wLITI token, a wrapped version of the Swiss company’s LITI equity token, has been listed on the Bitcoin.com Exchange on 24 August at 10:00AM UTC. wLITI is trading with BTC and USDT pairs.

    Liti Capital, a Swiss-based blockchain private equity fund specializing in raising capital for legal cases, is making waves in traditional investing by bringing litigation financing to the masses, an investment practice traditionally monopolized by hedge fund heavyweights and elite investors.

    Just last week, 19 August 2021, Liti Capital announced that it was funding a claim (www.binanceclaim.com) against Binance, which would enable affected individuals to pursue claims, including, if necessary, in arbitration, for compensation in relation to the exchange failing on 19 May 2021. This failure resulted in the trading accounts (including Futures, Margin, and Leveraged Token products) of at least 700 and potentially thousands of individuals being effectively untradeable for hours, causing traders to suffer losses that could exceed one hundred million dollars.

    Litigation financing is the practice of bringing in investors to cover the cost of a lawsuit or arbitration in exchange for a portion of the profit. Litigation financing specialists, such as Liti Capital, purchase litigation assets for cases they deem to have a high chance of winning.

    While litigation financing often requires an initial investment of $500,000 to $1 million from an investor, Liti Capital makes it accessible for anyone with as little as $50. It does this by tokenizing shares in Liti Capital and paying out dividends to Liti Capital (LITI) equity token holders when a case in Liti Capital’s portfolio is won.

    Liti Capital has already secured a healthy case portfolio with its largest case potentially worth more than $1 billion when it finally settles. Cases like these, which tend to be commercial rather than consumer or personal lawsuits, usually target large-scale corporate disputes valued at more than $10 million. While they could take years before a settlement is reached, successful litigation funders can expect to pocket between three and five times their initial investments, according to estimates by litigation finance expert Steven Friel.

    wLITI is an ERC-20 token that is the wrapped version of the LITI equity token. Launched on June 29, 2021, the wLITI token is suitable for trading on exchanges such as Bitcoin.com, whereas the LITI token is only available through liticapital.com after meeting KYC requirements. Liti Capital uses the blockchain to manage its share registry. Development of its own blockchain-based case management tools is on its roadmap.

    Switzerland-based Liti Capital creates wLITI at a LITI token buyer’s request via Liti Capital’s app or website, which converts the LITI to wLITI at a 1:5000 ratio. The tokens will always maintain this ratio. The buyer is then able to trade their wLITI freely. Liti Capital does not directly sell wLITI.

    LITI is a true digital share of Liti Capital that has voting rights, pays dividends and is protected under Swiss law. LITI is purposely not designed to be on exchanges at this time.

    Both tokens represent Liti Capital, whose mantra is “private equity for all.” Liti Capital works exclusively in a single form of private equity — Litigation Finance, also called third party funding. This asset class has remained almost entirely exclusive to hedge funds and venture capitalists since its inception several decades ago. Litigation Finance is the practice of financing all or part of a legal case on behalf of a plaintiff for an agreed upon percentage of the court award.

    Once Liti Capital purchases a portion of ownership of a case, it provides capital that can be used in many ways: legal fees, case management and strategy, expert witnesses, intelligence work and whatever else is needed to give the plaintiff the best chance of winning the case and collecting the award. The portion owned by Liti Capital becomes a “litigation asset” that backs the LITI token.

    Danish Chaudhry, CEO of Bitcoin.com Exchange, shared his views on wLiti’s listing, saying,“The Liti Capital team are providing an equity token which is the first of its kind, focused around easy-to-access private equity investment opportunities for basically anyone with the help of blockchain technology.”

    Chaudhry continues on by saying: “We’re very excited to see how Liti Capital will continue to empower their vision, and gain further outreach with our outstanding community at the exchange.”

    Jonas Rey, CEO of Liti Capital, said, “Listing on Bitcoin.com Exchange is an excellent opportunity for us, and a milestone we are proud of. We have full confidence that once the public discovers just how valuable the litigation assets we are able to purchase on behalf of LITI investors are and how powerful blockchain-backed private equity trading can be, that wLITI will become a very popular token indeed.”

    Listing details

    Trading Opening: Aug. 24, 2021, 10:00AM UTC

    Deposit Opening: Aug 24, 2021, 09;00AM UTC

    Trading Pairs: wLITI/BTC

    wLITI/USDT

    About Liti Capital

    Switzerland-based Liti Capital is a Swiss limited liability company specializing in litigation finance and fintech. Liti Capital buys litigation assets to fund lawsuits and provides a complete strategic solution along with connections to top law firms to help clients win their cases. Tokenized shares of the company lower the barrier of entry for retail investors and give token holders a vote in the company’s decision-making process. Dividends are distributed to LITI token holders upon the success of the plaintiff. Jonas Rey, co-founder of Liti Capital, also heads Athena Intelligence, one of the most successful intelligence agencies in Switzerland. His two co-founders, Andy Christen and Jaime Delgado, bring operational, innovation and technical skills to round out the leadership team.

    Liti Capital recently onboarded seasoned industry leader David Kay as chief information officer and executive chairman. Boasting more than a decade of experience as funding partner and portfolio manager of a billion-dollar private equity fund in the litigation financing space, Kay successfully enforced what was at the time the largest international arbitration award in history, bringing in over $1 billion in cash and securities.

    About Bitcoin.com Exchange

    The mission of Bitcoin.com Exchange is to empower people from all over the world to trade cryptocurrencies with ease and confidence, from first-time traders to advanced trading professionals. With high liquidity, 24/7 multilingual support and dozens of trading pairs, complemented with a high level of security, we offer an attractive platform for trading any cryptocurrency. Within one year since launch, on average, the exchange has been visited by more than 500K active traders per month, and this number continues to grow by the minute.

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  • Massive Prize Pool of Two Million wLITI on HitBTC Trading Contest | by Bit Media Buzz | Aug, 2021

    Massive Prize Pool of Two Million wLITI on HitBTC Trading Contest | by Bit Media Buzz | Aug, 2021

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    Bit Media Buzz

    Liti Capital SA is pleased to announce the wLITI trading contest with a prize pool of 2,000,000 wLITI tokens which will take place from Aug 19sth, 2021 for two weeks.

    wLITI is an ERC-20 litigation finance token that is the wrapped version of the Swiss equity token — the LITI token — a true digital share of Liti Capital that has voting rights, pays dividends and is protected under Swiss law. By wrapping its LITI Token, Liti Capital has given retail traders a utility token that is a wrapped version of an asset-backed equity token.

    How to participate?

    Trade wLITI on HitBTC during the contest period. Then sit back, relax and wait until the end of the contest to see if you won. Users will be ranked on their buy and sell trade volumes during the contest period.

    Prizes and Positions

    1st position — 600,000 wLITI

    2nd position — 400,000 wLITI

    3rd position — 300,000 wLITI

    4th position — 200,000 wLITI

    5th position — 100,000 wLITI

    Position 6–10th — 80,000 wLITI for each trader

    Trading contest link: https://hitbtc.com/trading-contest/122

    Currently the wLITI price is on an upward trend according to the Coinmarketcap price chart. At the current price of $0.04809 the prize pool is more than USD95,000!

    About Liti Capital SA

    Liti Capital works exclusively in a single form of private equity — Litigation Finance, also called third party funding. Litigation Finance is the practice of financing all or part of a legal case on behalf of a plaintiff for an agreed upon percentage of the court award. The portion owned by Liti Capital becomes a “litigation asset” that backs the LITI token.

    This asset class has remained almost entirely exclusive to hedge funds and venture capitalists since its inception several decades ago. Liti Capital is offering a new way to get retail traders involved in this asset class, by tokenizing its equity.

    For project information, please read the Whitepaper.

    For token distribution, please read Tokenomics.

    Liti Capital Website: https://liticapital.com

    Liti Capital Telegram: https://t.me/Liti_Capital_Official

    Liti Capital Telegram Announcements: https://t.me/Liti_Capital_Official_ANN

    Liti Capital LinkedIn: https://www.linkedin.com/company/liti-capital

    Liti Capital Twitter: https://twitter.com/liticapital

    Liti Capital Medium: https://medium.com/@liticapital

    Liti Capital Reddit: https://www.reddit.com/r/liticapital



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  • Liti Capital puts litigation financing on the Blockchain, wLITI token lists on HitBTC | by Bit Media Buzz | Aug, 2021

    Liti Capital puts litigation financing on the Blockchain, wLITI token lists on HitBTC | by Bit Media Buzz | Aug, 2021

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    Bit Media Buzz

    Geneva, Switzerland, Aug. 17, 2021 — Liti Capital, the Swiss-based litigation financing company that makes private equity investing accessible to everyone through blockchain technology, listed its wLITI token for the first time on HitBTC, a centralized exchange (CEX).

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  • AMA CryptoBooster x Liti Capital August 16th | by Bit Media Buzz | Aug, 2021

    AMA CryptoBooster x Liti Capital August 16th | by Bit Media Buzz | Aug, 2021

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    Bit Media Buzz

    Bit Media Buzz

    Just now·2 min read

    Announcing Liti’s next AMA on August 16th 2021 at 02:00 PM UTC Time: CryptoBooster x Liti Capital

    ️Total Reward pool: $500 in $wLITI

    ️Requirements:
    👉 Follow @CryptoooBooster & @LitiCapital

    👉 Join https://t.me/multichainstar & https://t.me/liti_capital_official



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  • MDEX: An Overlooked Decentralized Exchange? | by Bit Media Buzz | Aug, 2021

    MDEX: An Overlooked Decentralized Exchange? | by Bit Media Buzz | Aug, 2021

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    Bit Media Buzz

    DeFi (decentralized finance) has expanded its frontiers beyond the imagination of users. From a TVL of just over USD 1 billion in June 2020, to the current staggering USD 80 billion, its exponential growth is becoming a focal point to measure the massive activity in the world of finance, not just the token economy. The genesis of the various chains and DeFi platforms fuels positive growth the industry has been…

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  • Mimo DeFi Launches Polygon Support for Lower Fees & Faster Service | by Bit Media Buzz | Aug, 2021

    Mimo DeFi Launches Polygon Support for Lower Fees & Faster Service | by Bit Media Buzz | Aug, 2021

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    Bit Media Buzz
    Mimo is Now Officially Live on Polygon

    Singapore, Aug 9th, 2021 — Mimo, home of the world’s first decentralized, algorithmically-pegged EUR token, is now officially live on Polygon.

    Polygon lands a massive integration with Mimo. With easy access to blockchain services all on the strength of a euro stable token, the newly merged DeFi project brings a valuable utility to the network.

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  • An Ethereum blockchain upgrade, crypto regulatory battles, and Bitcoin price discussion: Hodler’s Digest, Aug. 1-7

    An Ethereum blockchain upgrade, crypto regulatory battles, and Bitcoin price discussion: Hodler’s Digest, Aug. 1-7

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    Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

    Top Stories This Week

     

    Square to acquire Australian fintech Afterpay in $29B deal

    Jack Dorsey’s digital payments firm Square entered into a $29 billion stock deal to purchase Australian buy now, pay later (BNPL) firm Afterpay this week. 

    Just like the name Afterpay implies, Square will essentially be buying the firm now and paying later, with the transaction set for the first quarter of 2022 and to be paid out entirely in Square common stock.

    Bitcoin (BTC) proponent Anthony Pompliano was pleased with the news, noting on his web series The Best Business Show that Square is one of the only stocks he owns, as he forecasted that the firm’s valuation will explode following the acquisition.

    In an Aug. 3 YouTube video, Pomp went for sheer and utter clickbait with the title “SQUARE is going to be worth 1 TRILLION dollars,” and he emphasized the potential of rolling out Afterpay’s BNPL services to 70 million Cash App users and 2 million Square merchants.

     

    Ethereum London hard fork goes live

    The London hard fork arrived almost on schedule on Aug. 5, ushering in Ethereum Improvement Proposal 1559. An interesting feature of the upgrade is that it also ushered in some bullish sentiments from Ethereum (ETH) proponents and some sour grapes from Bitcoin maxis. 

    Ethereum has now transitioned away from a bidding-based fee market to a fixed price-and-burn mechanism, which may see the asset become deflationary if more ETH is burned than issued in block rewards. However, this may be more likely after the switch to proof-of-stake with ETH 2.0. If the asset does become deflationary, it would reach the status of “ultrasound money,” which is a term that has also been a long-running meme in ETH communities that mocks Bitcoiners’ description of BTC as sound money due its capped supply of 21 million.

     

    BREAKING: White House confirms support for minor changes to crypto tax proposal

    The White House officially backed a last-minute amendment to the controversial U.S. infrastructure plan that proposes expanded cryptocurrency taxation to raise an additional $28 billion in revenue. The amendment maintains stringent reporting requirements for blockchain developers and validators while exempting miners. 

    However, the amendment’s vague wording and lack of clearly defined terms suggest that crypto developers and proof-of-stake validators would still be subject to expanded reporting and taxation that some have described as “unworkable.”

    For some reason, members of the White House seem intent on cracking down on tax evasion in crypto without understanding the nuances of the industry. They also seem to overlook the blatant rorting of the system from multinational giants who essentially vacuum capital out of the people’s pockets while paying zero tax.

     

    Mike Novogratz blasts US officials for poor grasp of crypto industry

    Amid the backdrop of looming crypto regulations that will most likely increase taxes and decrease profits, Galaxy Digital CEO Mike Novogratz has come out swinging in response to Senator Elizabeth Warren’s remarks calling cryptocurrency “the wild west” of the U.S. financial system.

    The billionaire crypto proponent’s jabs were, of course, delivered through social media, with Novogratz taking to Twitter on Aug. 3 to assert that most U.S. officials have no idea what they are talking about when it comes to crypto: 

    “Crypto is the future of our financial system and our citizens deserve officials that do their homework to understand this new technology. Most of our leaders haven’t done that yet. We also need regulators and politicians who understand that new ideas need room to grow.”

     

    Circle and Unstoppable Domains to introduce username-based USDC payments

    Circle and Unstoppable Domains are working to introduce username-based addresses as an alternative to long-winded alphanumeric crypto wallet addresses to aid the not-so-tech-savvy, a.k.a. newbies and boomers. 

    According to an Aug. 4 announcement, blockchain domain name provider Unstoppable Domains and stablecoin issuer Circle are collaborating to release readable “.coin” usernames for USD Coin (USDC) transfers.

    As part of the partnership, both companies will collaborate to enable support for .coin username extensions across wallets and crypto exchanges that list the number two-ranked stablecoin. 

    Under this arrangement, USDC transfers will become akin to sending an email, likely mitigating the problem of transferring coins to the wrong address, losing funds forever and living with regrets over one’s lack of due diligence.

    Winners and Losers

     

     

    At the end of the week, Bitcoin is at $42,651, Ether at $2,867 and XRP at $0.74. The total market cap is at $1.73 trillion, according to CoinMarketCap.

    Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Voyager Token (VGX) at 94.22%, THORChain (RUNE) at 50.69%, and Ravencoin (RVN) at 44.13%.

    The top three altcoin losers of the week are Amp (AMP) at -14.97%, XinFin Network (XDC) at -4.74%, and Telcoin (TEL) at -1.66%. 

    For more info on crypto prices, make sure to read Cointelegraph’s market analysis.

     

     

    Most Memorable Quotations

     

    “We can see Bitcoin on the balance sheets of cities, states, governments, companies, small [and] big investors.”

    Michael Saylor, MicroStrategy CEO

     

    “We’re now moving into a world where we have these nonfungible software objects that have unique identities that can actually accept money, pay money and can participate in governance, either in decentralized autonomous organizations or potentially other kinds of governments that can govern themselves.”

    Joe Lubin, ConsenSys founder and CEO

     

    “I’m spending five hours a day on everything from regulation to licensing and everything in between.”

    Sam Bankman-Fried, FTX CEO

     

    “Primarily, crypto assets provide digital, scarce vehicles for speculative investment. Thus, in that sense, one can say they are highly speculative stores of value.”

    Gary Gensler, chair of the U.S. Securities and Exchange Commission

     

    “Crypto is a bit like the parable of the blind men and the elephant. People touch it from different sides. They get distracted and carried away and energized about these different topics.”

    Marc Andreessen, Andreessen Horowitz general partner and co-founder

     

    “If you put a gun to my head, and you said, ‘I can only have one.’ I would choose gold.”

    Ray Dalio, billionaire hedge fund manager

     

    “Just so we’re all clear here, the SEC has no authority over pure commodities or their trading venues, whether those commodities are wheat, gold, oil….or #crypto assets.”

    Brian Quintenz, U.S. CFTC commissioner

     

    “The more people with stablecoins in the pocket, the more people who can participate in decentralized finance.”

    Matthew Gould, Unstoppable Domains CEO

    Prediction of the Week 

     

    Bitcoin chart fractal suggests BTC price will have rallied to at least $80K by September

    If this latest bullish BTC prediction turns out to be true, Bitcoiners may soon be able to start driving their lambos on the moon. 

    Nunya Bizniz, an independent market analyst, posted a bullish prediction on Aug. 1, as they highlighted that the recent rally of around 40% in late July included 10 consecutive days of lovely green candles, and not those horrible red ones that bears love so much. 

    The analyst noted that each of BTC’s previous 10-day bull runs has ended up with at least a 100% price increase within 30 to 60 days. Therefore, if history repeats itself, Bitcoin’s price may double and surge to new all-time highs around the $80,000 mark.

    FUD of the Week 

     

    South Korean regulator to reportedly shut down 11 crypto exchanges

    Crypto regulations in South Korea may become more stringent after news circulated this week that South Korea’s top financial regulator, the Financial Services Commission, or FSC, is reportedly planning to shut down a dozen local cryptocurrency exchanges amid accusations of fraud.  

    The FSC will suspend operations of at least 11 mid-sized crypto exchanges in South Korea due to alleged illegal activities and fraudulent collective accounts, according to local media outlets.  

    The publication cited anonymous industry sources claiming that the names of the exchanges were not yet disclosed, so Koreans will not know exactly what to FUD over until the names come to light. The sources argued that the mentioned crypto exchanges will be unable to get approval for operation by the FSC. 

    The report also notes that the authority is planning to implement stricter regulations for smaller crypto exchanges in South Korea, meaning that anyone firm that wants to partake in illegal behavior will have to do it on a large scale.

     

    Monero’s former maintainer arrested in the US for allegations unrelated to cryptocurrency

    Speaking of alleged illicit behavior, Riccardo Spagni, the former maintainer of the Monero (XMR) cryptocurrency, was arrested last month in Nashville, Tennessee, but not for anything related to crypto.  

    Spagni is facing fraud charges tied to alleged offenses in South Africa between 2009 and 2011, during his time serving as an information technology manager at a company dubbed Cape Cookies. 

    Spagni allegedly fabricated additional invoices from a supplier of Cape Cookies, which included inflated prices for goods and services, along with his bank details instead of the suppliers’. He now faces a hearing on Aug. 5 to determine whether he is held, pending trial. If convicted in South Africa, he faces 20 years in prison.

     

    Breaking: BSV reportedly suffers ‘massive’ 51% attack

    Bitcoin SV reportedly suffered a “massive” 51% attack on Aug. 3 that resulted in up to three versions of the chain being mined simultaneously.

    Speaking about the attack, Lucas Nuzzi, a network data product manager at Coin Metrics, stated on Twitter that “someone is seriously trying to destroy BSV,” and added that:

    “For over 3 hours, attackers were able to take over the chain. All exchanges that received BSV deposits during that time might have been double spent.”

     

    Best Cointelegraph Features

    BlockFi faces regulatory heat, a sign of possible crypto lending regulations?

    The crypto lending giant BlockFi is facing regulatory scrutiny from a handful of states in America ahead of a proposed public listing.

    Civic engagement and crypto: Miami unveils its own digital coin

    MiamiCoin is not just a cryptocurrency, but rather a decentralized application that can function as a developer platform for cities.

    Ready to deploy? Amazon’s Bitcoin acceptance can prime a payments future

    Amazon denied reports it will accept BTC payments soon, but seemingly, it’s only a matter of time before the tech giants embrace the token economy.



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