Crypto Shuttle News

Tag: Digest

  • Yuga Labs fetches $450M in funding, Charles Hoskinson’s prediction falls short and spot BTC ETFs incoming?: Hodler’s Digest, Mar.20-26

    Yuga Labs fetches $450M in funding, Charles Hoskinson’s prediction falls short and spot BTC ETFs incoming?: Hodler’s Digest, Mar.20-26

    [ad_1]

    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

    Crypto industry fires back after EU vote to block ‘unhosted’ wallets

    The cryptocurrency industry has fired back at the European Parliament, the legislative arm of the European Union, voting in favor of stringent crypto regulations relating to ”unhosted” private wallets. 

    The guidelines would require crypto service providers to verify the identity of every individual using an unhosted wallet that interacts with them, while any transaction greater than 1,000 euros would need to be reported to authorities. 

    “Imagine if the EU required your bank to report you to the authorities every time you paid your rent merely because the transaction was over 1,000 euros,” Coinbase CEO Brian Armstrong wrote on Twitter. “Or if you sent money to your cousin to help with groceries, the EU required your bank to collect and verify private information about your cousin before allowing you to send the funds.”

     

     

     

    Axie Infinity’s Ronin bridge hacked for over $600M

    Axie Infinity’s Ronin Bridge was the victim of a hefty hack worth around $612 million earlier this week, with 173,600 Ether and 25.5 million USD Coin being stolen from the platform. 

    Ronin developers stated that the attacker used hacked private keys to forge fake withdrawals, draining the funds from the Ronin Bridge in just two transactions. 

    In a statement on Wednesday, the developers stated that they were “working with law enforcement officials, forensic cryptographers and our investors to make sure that all funds are recovered or reimbursed. All of the AXS, RON and SLP [tokens] on Ronin are safe right now.”

     

    Terra smash-buys $139M Bitcoin, wallet reaches 31,000 BTC

    As part of the Bitcoin buying spree led by Terraform Labs founder Do Kwon, the Terra wallet belonging to Luna Foundation Guard approached $1.5 billion in BTC following another huge $139 million purchase this week. 

    Terra has been snapping up BTC aggressively since late January to build reserves to back its TerraUSD (UST) stablecoin, with Kwon also outlining earlier this month that Terra plans to accumulate a whopping $10 billion worth of BTC. 

    Terraform Labs is on track to overtake Tesla as the second-largest holder of Bitcoin soon, with MicroStrategy also in its sights, according to data from Bitcoin Treasuries.

     

     

     

    OpenSea set to integrate Solana in April, further expanding the NFT ecosystem

    Top NFT marketplace OpenSea announced a long-awaited integration with the Solana blockchain on Wednesday. The expanded support, expected to go live in April, adds to OpenSea’s existing support of Ethereum, layer-2 Polygon and Klaytn. 

    It appears the move has been well received, with OpenSea’s 16-second teaser video on Twitter pulling 615,500 views, 8,964 retweets and 21,700 likes within 18 hours of posting. 

    Alluding to the vast number of tweets and media publications commenting on the potential for a Solana launch, OpenSea cheerfully referred to the announcement as the “best-kept secret in Web3.”

     

    MetaMask rolls out Apple Pay integration and other iOS updates

    ConsenSys-owned MetaMask revealed important updates for iPhone and Apple Pay users on Tuesday that enable them to purchase cryptocurrency directly through the app via debit or credit cards, removing the hassle of sending Ether from an outside source to add funds.

    Notably, the move is said to lower gas fees, and MetaMask is utilizing two payment gateways, Wyre and Transak, to support debit card and credit card purchases. Users are now able to deposit a maximum of $400 daily into their wallets via the new service. 

    “We wanted to expand the way in which users can convert crypto within the app itself and not have to leave it,” James Beck, director of communications and content at ConsenSys, told Cointelegraph.

     

     

     

     

     

    Winners and Losers

     

    At the end of the week, Bitcoin (BTC) is at $45,119, Ether (ETH) at $3,275 and XRP at $0.81 The total market cap is at $2.07 trillion, according to CoinMarketCap.

    Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are STEPN (GMT) at 325.60%, Zilliqa (ZIL) at 303.89% and SKALE Network (SKL) at 82.33%  The top three altcoin losers of the week are Axie Infinity (AXS) at -13.23%, Zcash (ZEC) at -8.16% and Helium (HNT) at -7.54%.

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

     

     

     

     

    Most Memorable Quotations

     

    “I’m sort of betting that the long-term scenario of Bitcoin going up and the reserves being strong enough to withstand UST demand drops is the more likely scenario.”

    Do Kwon, founder and CEO of Terraform Labs

     

    “New York can issue $2 billion of debt and buy $2 billion worth of Bitcoin — the Bitcoin is yielding 50% or more, the debt costs 2% or less.”

    Michael Saylor, CEO of MicroStrategy

     

    “Dictators aren’t really going to like Bitcoin because they can’t control it.”

    Alex Gladstein, chief strategy officer at the Human Rights Foundation

     

    “Ethereum is like New York City: it is vast, expensive and congested in certain areas. However, it also features the richest application ecosystem, with over 500 apps that command a total value of over $100 billion — more than 10x larger than any other competing network.”

    Grayscale, digital asset manager

     

    “Nothing is growing as fast as cryptocurrency.”

    Karim Khanjeza, member of parliament of Kyrgyzstan

     

    “Web3 takes the concept of democratization to a whole new level, whereby data/information cannot only be made openly shareable but can be made openly unfalsifiable.”

    Shubham Gupta, Indian Administrative Service officer

     

    “I’d put the chance of Bitcoin ever moving to PoS at exactly 0%. There is no appetite among Bitcoiners to destroy the security of the protocol by making such a move.”

    Chris Bendiksen, Bitcoin researcher at CoinShares

     

    “People should have the freedom to choose other money. If the government is going to abuse our cash, we should have the freedom to use other, higher quality cash.”

    Pierre Poilievre, Canadian Conservative Party candidate for prime minister

     

     

    Prediction of the Week 

     

    VanEck says Bitcoin could hit $4.8M if it became the global reserve asset

    U.S. investment giant VanEck has come up with a lofty prediction concerning Bitcoin — and one that has very little chance of coming to fruition in the foreseeable future. The firm suggested this week that 1 BTC could be worth $4.8 million if it becomes the world’s reserve currency. 

    The extremely optimistic estimation was part of a report by VanEck’s head of active EM debt management, Eric Fine, and chief economist Natalia Gurushina, who outlined a thought experiment comparing the price implications for gold and Bitcoin after being adopted as reserve currencies. 

    VanEck’s analysis found that the implied price for BTC ranged from $1.3 million to $4.8 million. But they ultimately concluded that the Chinese yuan is the most likely currency to become a global reserve asset if the U.S. dollar crumbles moving forward.

     

     

    FUD of the Week 

    Crypto-skeptic gamers review bomb Storybook Brawl after FTX buys it

    A bunch of angry gamers review-bombed Storybook Brawl on Steam over fears of potential NFT and blockchain integrations, following crypto exchange FTX US acquiring its developer, Good Luck Games. 

    FTX US announced the acquisition on Friday and, at the time of reporting, 600 out of 761 reviews were negative, with most of them commenting about how good the game was until it sold out to a crypto firm. 

    “Good Luck Games was acquired by FTX, a cryptocurrency company, as a way to ‘help crypto make inroads with gamers.’ I want no part of that and I don‘t want crypto ‘making inroads’ in things I‘m interested in. Uninstalled,” wrote Steam user “King Bear,” who has clocked more than 60 hours in the game.

     

    With inflation going through the roof, Sudan’s central bank cautions citizens against using crypto

    The Central Bank of Sudan (CBOS) has warned local citizens about dealing with cryptocurrencies over risks such as “financial crimes, electronic piracy and the risk of losing their value.”

    The warning came amid reports that crypto is gaining traction in Sudan at a time when the African nation is dealing with three-digit inflation following a 2021 military coup. 

    The CBOS also cited legal risks, as cryptocurrencies are not classified as money “or even private money and property” under Sudanese law. The central bank admitted that it has been noticing an uptick in crypto promotions on social media recently.

     

    Greenpeace, Ripple co-founder campaigning to change Bitcoin code

    Greenpeace has teamed up with Ripple co-founder and executive chairman Chris Larsen to launch a new campaign aimed at changing Bitcoin’s mining practices to an environmentally sustainable model. 

    The campaign is called “Change the Code, Not the Climate,” and Greenpeace in particular cited concerns that the energy required to mine Bitcoin comes mostly from fossil fuels. 

    “If only 30 people — the key miners, exchanges and core developers who build and contribute to Bitcoin’s code — agreed to reinvent proof-of-work mining or move to a low-energy protocol, Bitcoin would stop polluting the planet,” the campaign notes.

    Bitcoin enthusiasts were less than pleased with the new campaign, with several prominent industry leaders arguing that the Bitcoin network would never abandon proof-of-work.

     

     

    Best Cointelegraph Features

    Crypto critics: Can FUD ever be useful?

    “Anyone who says that David Gerard personally stopped their crypto getting into Wikipedia is a fuckwit,” says editor, Wikimedia spokesman and professional crypto hater David Gerard in his typically no-nonsense fashion.

    The Bitcoin shitcoin machine: Mining BTC with biogas

    A Bitcoin mining facility in Slovakia converts human and animal waste into Bitcoin hash rate, securing the network while mining Bitcoin.

    Planet of the Bored Apes: BAYC’s success morphs into ecosystem

    The success of the “Bored Ape Yacht Club” collection sparked the creation of an NFT universe powered by its proprietary ApeCoin token.

     

     

     

    [ad_2]

    Source link

  • Bakkt stock goes parabolic, GBTC outpaces BITO ETF and Tom Brady offers 1 BTC for 600th touchdown ball: Hodler’s Digest, Oct. 24-30

    Bakkt stock goes parabolic, GBTC outpaces BITO ETF and Tom Brady offers 1 BTC for 600th touchdown ball: Hodler’s Digest, Oct. 24-30

    [ad_1]

    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

    Bakkt shares skyrocket after partnering with Mastercard and Fiserv

    On Monday, the share price of the Intercontinental Exchange-backed crypto services company Bakkt (BKKT) surged 120% on the back of two major partnerships with Mastercard and Fiserv. 

    Both partnerships were announced on Monday, with the Mastercard deal enabling Bakkt’s U.S. customers to buy, sell and hold crypto assets via custodial wallets. Meanwhile, the strategic collaboration with global payment provider Fiserv gives Bakkt the chance to offer merchant-facing digital asset services. 

    The news sparked a bullish rally that saw BKKT surge by 120% to sit at $30.60 by the end of trading on Monday.

     

    ProShares Bitcoin-linked ETF launches on NYSE

    ProShares achieved a major milestone for the crypto sector this week after the firm debuted its Bitcoin (BTC) futures-based exchange-traded fund (BITO) on the New York Stock Exchange (NYSE) on Tuesday. 

    ProShares’ Bitcoin Strategy ETF saw around $1 billion in volume on its opening day, with Bloomberg analysts stating that it was arguably the largest first-day volume for an ETF in terms of “natural” or “grassroots interest.” 

    After two days on the NYSE, ProShares’ ETF became the fastest fund ever to reach $1 billion in assets under management. Following ProShares’ ETF, many onlookers are waiting to see how the next in line performs. At the time of writing on Friday, Valkyrie just launched its Bitcoin futures ETF on the NYSE.

     

    GBTC delivered better returns than Bitcoin ETFs last week

    While there has been a lot of hype surrounding the long-awaited launch of the first U.S. Bitcoin ETFs, Grayscale’s executives highlighted that the Grayscale Bitcoin Trust (GBTC) actually outperformed them last week. 

    Over a seven-day period starting from Oct. 19, the industry stalwart GBTC returned around 8.8%, while the new and shiny ProShares Bitcoin Strategy ETF dipped around 0.5%.

    Despite Grayscale outlining plans to convert GBTC into an ETF, Barry Silbert, CEO of Grayscale’s parent company Digital Currency Group, was still keen to rub salt in the wound, as he highlighted GBTC’s higher trading volumes compared to BITO. As of Monday, GBTC’s volume totaled $374 million, while BITO managed to generate $286 million.

     

    Volt Equity’s ‘Bitcoin revolution’ ETF goes live on NYSE

    Speaking of ETFs, Volt Equity’s Bitcoin ETF went live on the New York Stock Exchange on Oct. 28. 

    The Volt Crypto Industry Revolution and Tech ETF, which is trading under the ticker BTCR, opened at $21 in a nod to Bitcoin’s max supply of 21 million BTC. BTCR tracks companies with significant exposure to Bitcoin, such as MicroStrategy, Tesla, Twitter, Square, Coinbase and several BTC mining firms. 

    According to Volt Equity, the ETF is implementing a management approach informed by PlanB’s Bitcoin stock-to-flow model, a quantitative model intending to predict BTC’s price. Volt Equity told Cointelegraph that the firm will gauge the market behavior of Bitcoin and adjust its exposure to mining firms if the asset drops in value significantly.

     

    NFL quarterback Tom Brady gives fan 1 BTC for his historic 600th-touchdown-pass ball

    Superstar NFL quarterback Tom Brady almost lost the ball he threw for his record 600th touchdown pass this week after wide receiver Mike Evans mistakenly handed it off to a fan after scoring.  

    Evans apparently did not realize that it was the quarterback’s record pass at the time. However, Brady revealed after the game on Monday that he offered the fan 1 BTC as thanks for handing it back quickly.  

    The Tampa Bay Buccaneers also agreed to give the fan two signed team jerseys, a helmet with Brady’s autograph, Mike Evans game cleats as well as a jersey signed by the wide receiver, season tickets for the rest of the year and through 2022, as well as a $1,000 credit towards purchases at the team’s store. Many onlookers have complained that it was a weak offer, as the ball could have sold for a much higher value via auction.

     

    Someone bought $3,400 worth of SHIB last August. It’s now worth $1.55 billion

    On Thursday, an unknown crypto billionaire was unveiled after their wallet address was shown to be worth $5.63 billion in SHIBA INU (SHIB). 

    The anonymous SHIB hodler’s $3,400 investment in the dog-themed token in August 2020 equated to a value of $1.55 billion. Out of the total of 44 purchases since that time, the investor never spent more than $3,200 on the asset at one time.  

    SHIB has gained around 85,437,459% over the past 12 months, and the asset temporarily ousted Dogecoin (DOGE) as a top-10 ranked coin this week. SHIB surged to a market cap of $40.3 billion on Thursday, while DOGE tallied in at $31.6 billion at the time. 

    SHIB has since seen a sharp pullback, allowing DOGE to briefly regain its status as the number one memecoin. At the time of writing, DOGE’s market cap sits at $36.1 billion, while SHIB’s figure stands close behind at $38.5 billion.

     

     

    Winners and Losers

     

     

    At the end of the week, Bitcoin (BTC) is at $62,540, Ether (ETH) at $4,420 and XRP at $1.08. The total market cap is at $2.66 trillion, according to CoinMarketCap. 

    Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are SHIBA INU (SHIB) at 164.03%, Curve DAO Token (CRV) at 58.39% and Decentraland (MANA) at 54.46%. 

    The top three altcoin losers of the week are OKB (OKB) at -23.74%, XDC Network (XDC) at -12.94% and Stacks (STX) at -9.66%.

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

     

     

    Most Memorable Quotations

     

    “Anybody that does the homework […] ends up investing into it. Look at Ray Dalio, a Bitcoin skeptic, now a Bitcoin investor.”

    Anthony Scaramucci, founder and managing partner of SkyBridge Capital

     

    “#Bitcoin is the most practical solution for a consumer, investor, or corporation seeking inflation protection over the long term.”

    Michael Saylor, CEO of MicroStrategy

     

    “To a degree, we think rising regulations could be a positive for Coinbase’s competitive positioning, particularly versus business models that predominantly rely on markets being unregulated.”

    Peter Christiansen, Citi analyst

     

    “As of yesterday, the total size of the digital asset market was $2.7 trillion. Among that $2.7 trillion, nearly 60% were commodities. […] Given the size, the scope and the scale of this emerging market, how it’s interfacing and affecting retail customers, and with the scale of the growth being so rapid, potential financial stability risks in the future, I think it’s critically important to have a primary cop on the beat.”

    Rostin Behnam, acting chairperson of the U.S. Commodity Futures Trading Commission

     

    “Creators, owners and operators or some other persons who maintain control or sufficient influence in the DeFi arrangements, even if those arrangements seem decentralized, may fall under the FATF definition of a VASP where they are providing or actively facilitating VASP services.”

    Financial Action Task Force

     

    “GameStop is looking for a unique individual who can help accelerate the future of gaming and commerce. In this future, games are the places to go, and play is driven by the things you bring. Future creators won’t just build games but also the components, characters, and equipment. Blockchains will power the commerce underneath.”

    GameStop job post

     

    “The conversation has shifted dramatically, where I think there’s a little bit of an understanding [from professional sports organizations] that there’s something here. I meet very little resistance these days that NFTs are a thing.”

    Caty Tedman, head of partnerships at Dapper Labs

     

    “There may be some parallels here between the 2017 bull run and this 2021 cycle; however, adoption is far greater, open interest is higher, and the utility of crypto is unrecognizably farther along than in 2017.”

    Steven Gregory, CEO of Currency.com

     

    Prediction of the Week 

     

    Bitcoin price dip matches October 2017 with BTC ‘explosion’ still forecast before 2022

    Bitcoin’s price sustained a bit of turbulence this week, trading above $63,000 before falling down to around $58,000, based on data from Cointelegraph’s BTC price index. Following the dip, Bitcoin’s price rallied back up past $62,000. 

    Zooming out on a longer time horizon than just this week reveals similarities in price action between 2021 and 2017 (one of the crypto market’s notable bull runs) according to charting from Twitter user Smart Crypto. The Twitter personality posted a tweet showing two charts side by side — one from 2017 and one from 2021. 

    Both charts showed Bitcoin’s price action from July until the end of the year. The charts look as if 2021 rhymes with 2017 in terms of Bitcoin’s price action. If BTC’s chart continues playing out similarly to 2017, the asset could be in for a notable rise in value ahead. Smart Crypto’s tweet was seemingly based on analysis from Twitter user TechDev. 

     

    FUD of the Week 

     

    CFTC reportedly investigating decentralized prediction platform Polymarket

    Earlier this week it was reported that the Commodity Futures Trading Commission (CFTC) was investigating Polymarket, a New York-based decentralized prediction market platform. 

    The news was first reported by Bloomberg, citing anonymous sources who claimed that the CFTC was looking to gauge whether the firm was enabling customers to trade binary options and conduct swaps that should be registered with the financial regulatory agency. 

    “Polymarket is firmly committed to complying with applicable laws and regulations and to providing information to regulators that will assist them with any inquiry,” a spokesperson from Polymarket said.

     

    SEC reportedly knocks back Valkyrie’s leveraged Bitcoin ETF

    It was reported on Thursday that the U.S. Securities and Exchange Commission (SEC) had knocked back two Bitcoin ETF applications from Valkyrie and Direxion. 

    On Tuesday, Direxion filed for a product that would enable investors to buy contracts that short the price of BTC, while Valkyrie applied for a leveraged BTC futures ETF the following day. 

    As many onlookers have pointed out, the SEC appears to specifically favor Bitcoin ETFs that offer direct exposure to futures contracts, as opposed to funds that are directly backed by the asset, or ones that are leverage-based and shorting-focused in this instance.

     

    US gov attorneys to target individuals and gatekeepers for crypto prosecutions

    A group of high-ranking U.S. government attorneys from the SEC, Department of Justice (DOJ) and CFTC outlined their agencies’ directives for white-collar crypto enforcement on Wednesday. 

    The SEC’s enforcement director, Gurbir Grewal, said the regulator is putting its focus on gatekeepers, as he noted that “they’re the first line of defense more often than not against all manner of misconduct.” Grewal added that the SEC is also keeping an eye on unregistered crypto exchanges, unregistered and fraudulent initial coin offerings, and crypto-lending platforms.

    Nicholas McQuaid, the principal deputy assistant attorney general of the DOJ’s Criminal Division, said that his agency is looking to crack down on fraudulent individuals specifically. While Vincent McGonagle, the acting director of the Division of Enforcement for the CFTC, said that regulators are focusing on the wild west of decentralized finance (DeFi).

     

    Best Cointelegraph Features

    We haven’t even begun to tap into the potential of NFTs

    Nonfungible tokens will become a critical component of all brands’ marketing and digital strategy initiatives.

    Why now? SEC took eight years to authorize a Bitcoin ETF in the US

    The SEC has been holding steady for years, but the real-world dynamics of crypto adoption and maturation rendered an ETF approval all but inevitable.

    Crypto City: Guide to New York

    The city that never sleeps is one of the major hubs in the crypto world despite the best efforts of regulators.

    [ad_2]

    Source link

  • Proshares’ Bitcoin ETF sees $1B in first day volume, BTC price hits new high, and Coinbase partners with NBA and WNBA: Hodler’s Digest, Oct. 17-23

    Proshares’ Bitcoin ETF sees $1B in first day volume, BTC price hits new high, and Coinbase partners with NBA and WNBA: Hodler’s Digest, Oct. 17-23

    [ad_1]

    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

    Bitcoin officially hits new all-time high above $65K

    Bitcoin (BTC) surged to new all-time highs this week, breaking the former ceiling of $64,900 from April as the asset went into price discovery mode before topping out around $67,000.

    The bullish momentum coincided with the successful launch of ProShares’ Bitcoin futures-based exchange-traded fund (ETF). Many onlookers are expecting the price to increase in the coming weeks and months, with the more optimistically inclined even suggesting that up to $300,000 is possible in the near future. 

    With Bitcoin’s market capitalization dominance at its highest since mid-May, many popular traders have stressed that now is the time to put a focus on digital gold and put the altcoin market on the back burner for the moment.

     

    ProShares Bitcoin-linked ETF launches on NYSE

    ProShares achieved a major milestone for the crypto sector this week after the firm debuted its Bitcoin futures-based ETF (BITO) on the New York Stock Exchange (NYSE) on Tuesday. 

    ProShares’ Bitcoin Strategy ETF saw around $1 billion in volume on its opening day, with Bloomberg analysts stating that it was arguably the largest first-day volume for an ETF in terms of “natural” or “grassroots interest.” 

    After two days on the NYSE, Proshares’ ETF became the fastest fund ever to reach $1 billion in assets under management. Following Proshares’ ETF, many onlookers are waiting to see how the next in line performs. At the time of writing on Friday, Valkyrie just launched its Bitcoin futures ETF on the NYSE.

     

    Coinbase announces multiyear partnership with NBA and WNBA

    Top crypto exchange Coinbase has penned a deal with the NBA, WNBA, NBA G League, NBA 2K League and USA Basketball as part of a multiyear sponsorship deal. As part of the deal, Coinbase will work to educate basketball fans on crypto.

    According to the NBA, Coinbase will create “unique content, innovations, activations and experiences” to help basketball fans to learn about the crypto space. The firm’s branding will also appear during the televised games.

    The move could be a real “slam dunk” for the industry in terms of mainstream adoption, with data from Statista showing that an average of 1.6 million people watched NBA regular-season games across major networks during the 2019–2020 season.

     

    Mariah Carey buys Bitcoin, hopes to empower fans through education

    Mariah Carey, the pop icon behind the divisive Christmas song “All I Want For Christmas Is You,” has partnered with the Winklevoss twins’ crypto exchange Gemini to promote Bitcoin adoption and support girls of color in their pursuit of STEM degrees — a broad education category that refers to science, technology, engineering and mathematics. 

    In a video to her 10.2 million Instagram followers, Carey said she’s a Bitcoin investor and offered her fans a referral code to redeem a whopping $20 in free BTC. 

    Her promo deal is linked to charitable causes, as users who sign up through the referral link and trade digital assets on Gemini will be contributing directly to Black Girls Code, a nonprofit organization that provides technology education for African-American girls.

     

    Brazilian toddler makes over 6,500% profit on her first Bitcoin holding

    A four-year-old hodler from Brazil has earned more than 6,500% in profit on her first Bitcoin. The girl’s father, João Canhada, gifted 1 BTC to his newborn in 2017 when the asset was priced at around $915. 

    Canhada is the founder of Brazilian crypto exchange Foxbit, and stated that he bought his daughter Bitcoin not just as a gift, but as a “way of investing” in the emerging crypto sector. It appears that he was at the right place at the right time, as the price of Bitcoin went on to surge to $20,000 at the tail end of 2017.

    While there have been many bumps along the road, Bitcoin was worth around $61,000 at the end of the week, suggesting her profit now sits at roughly 6,560%.

     

     

    Winners and Losers

     

     

    At the end of the week, Bitcoin (BTC) is at $60,658, Ether (ETH) at $3,963 and XRP at $1.09. The total market cap is at $2.51 trillion, according to CoinMarketCap.

    Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are OKB at 71.25%, Nexo (NEXO) at 33.80% and Huobi Token (HT) at 33.70%.

    The top three altcoin losers of the week are Flow (FLOW) AT -21.20%, Celsius (CEL) at 14.00% and Perpetual Protocol (PERP) at -13.14%.

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

     

     

    Most Memorable Quotations

     

    “If left unchecked, these digital assets and payments systems could harm the efficacy of our sanctions.”

    U.S. Department of the Treasury

     

    “We’ve got a lot of smart guys working at Icahn & Company, and we just don’t understand Bitcoin. I’m not saying it’s bad or good, I’m just saying we don’t understand it. We’re not going to invest in something we don’t get. […] The jury is really out on whether Bitcoin has intrinsic value or acts as a store of value. If inflation gets rampant, I guess it does have value. There are so many variables, it is a very difficult thing to invest in.”

    Carl Icahn, founder of Icahn Enterprises 

     

    “There’s a lot of history here. We think it’ll track quite well and, most importantly, we think that a combination of a regulated futures market and a 40-act ETF will really open up the opportunity to conveniently get Bitcoin exposure to a lot of folks who may have been waiting on the sidelines.”

    Simeon Hyman, head of investment strategy at ProShares

     

    “To protect consumers and reduce costs, we encourage the streamlining of state-level regulatory frameworks for stablecoins and the issuance of special-purpose charters by federal banking regulators for stablecoin companies seeking to operate nationally.”

    The Chamber of Digital Commerce

     

    “DAOs do not clearly fall within any of Australia’s existing company structures. […] This regulatory uncertainty is preventing the establishment of projects of significant scale in Australia.”

    The Senate Committee on Australia as a Technology and Financial Center (ATFC)

     

    “Diem is not Facebook. We are an independent organization, and Facebook’s Novi is just one of more than two dozen members of the Diem Association. Novi’s pilot with Paxos is unrelated to Diem.”

    Diem

     

    “We’ve made a lot of noise in the last few months about getting hyperactive in cryptocurrency.”

    Adam Aron, CEO of AMC

     

    “AI, especially the sort of low-tech, surveillance form, is essentially communist.”

    Peter Thiel, co-founder of PayPal

     

    Prediction of the Week 

     

    Traders brace for a drop to $58K if Bitcoin price loses the $62K support

    Bitcoin’s price favored north this week. According to Cointelegraph’s BTC price index, the asset broke its previous all-time high just shy of $65,000, going on to reach $67,000 amid a week filled with Bitcoin ETF headlines. Bitcoin cooled off following its surge, however, dropping back down to the low $60,000s. 

    Several people weighed in on potential upcoming price action for Bitcoin. The Twitter account for E-Club Trading, an investment analysis organization, mentioned a level around $58,000 as one potential landing zone if Bitcoin loses the $62,000 level. 

    BTC could also possibly ride right up to $80,000, or it could visit $58,000 or $53,000 first prior to pushing for $80,000, ExoAlpha chief investment officer David Lifchitz noted.

     

    FUD of the Week 

     

    New York businesses ask governor to deny permits for crypto mining

    New York Governor Kathy Hochul received a letter this week urging her to deny permits enabling the conversion of the city’s old fossil-fuel power plants into crypto mining centers. The power plants in question are the Greenidge Generating Station and Fortistar North Tonawanda Facility, which now are the target of ambitions to mine and hodl at full throttle.   

    The letter was co-signed by a long list of local organizations, businesses and labor groups, who banded together to voice their concerns over the energy-intensive poof-of-work crypto mining model. 

    “Proof-of-Work cryptocurrency mining use enormous amounts of energy to power the computers needed to conduct business — should this activity expand in New York, it could drastically undermine New York’s climate goals established under the Climate Leadership and Community Protection Act,” the letter read.

     

    NYAG directs 2 crypto firms to shut down, investigates 3 others

    Speaking of New York, the state’s attorney general’s office went after five local crypto firms on Monday, ordering two unnamed companies to shut down operations, while launching investigations into the other three. 

    The attorney general’s office alleged that the two firms engaged in unlawful activities, and requested details on the other firm’s lending products, policies, procedures, clients in the state and other relevant information.

    One of the three crypto lending firms under investigation is Celsius Network, with the firm confirming the news in a blog post on Tuesday. Celsius said it is “working on providing regulators in New York” with info regarding its business.

     

    Senators pressure Facebook to ‘immediately discontinue’ Novi wallet pilot

    In what may or may not be FUD depending on one’s views towards Facebook, the social media giant was urged by five U.S. senators to halt its crypto wallet just hours after its pilot program went live this week. 

    Facebook’s Novi wallet launched a pilot in the United States and Guatemala on Tuesday in partnership with Coinbase, but the group of senators, which included crypto skeptic Elizabeth Warren, weren’t having it. In a letter sent to Facebook CEO and meat-smoking enthusiast Mark Zuckerberg, the senators voiced their “strongest opposition to Facebook’s revived effort to launch a cryptocurrency and digital wallet.”

    “Facebook cannot be trusted to manage a payment system or digital currency when its existing ability to manage risks and keep consumers safe has proven wholly insufficient,” the letter read.

     

    Best Cointelegraph Features

    The crypto industry royally screwed up privacy

    Sadly, there are several reasons why the blockchain community has fallen short in making privacy a tier-one priority, and that must be changed.

    Lushsux: A decade of ass-whoopin’ and skullduggery in a single NFT

    “Generally, when I’ve got things successful, it’s just through a bit of skullduggery.”

    Bitcoin futures ETFs: Good, but not quite there

    With a Bitcoin futures exchange-traded fund, getting exposure to the world’s largest cryptocurrency will be easier than ever.

    [ad_2]

    Source link

  • CoinSwitch Kuber becomes crypto unicorn, Bitcoin returns to a $1T market cap, and a 2017 Ethereum fractal that resulted in 7000% gains resurfaces: Hodler’s Digest, Oct. 3-9

    CoinSwitch Kuber becomes crypto unicorn, Bitcoin returns to a $1T market cap, and a 2017 Ethereum fractal that resulted in 7000% gains resurfaces: Hodler’s Digest, Oct. 3-9

    [ad_1]

    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

    Indian crypto exchange CoinSwitch Kuber raises $260M

    Indian crypto exchange CoinSwitch Kuber closed a $260 million Series C funding round this week at a valuation of $1.91 billion, adding itself to the prestigious unicorn club.

    The funding round was led by Coinbase Ventures and Andreessen Horowitz, the latter of which has emerged as a leading crypto venture capital firm. Following the $1.91 billion valuation, CoinSwitch Kuber is said to be India’s most valued crypto firm.

    Speaking of funding, Sky Mavis, the developers of the immensely popular NFT game Axie Infinity, announced a $152 million Series B funding round on Tuesday. Unsurprisingly, Andreessen Horowitz backed the funding round along with participation from FTX.

     

    Ethereum fractal from 2017 that resulted in 7,000% gains for ETH appears again in 2021

    The same set of bullish indicators that sent Ether (ETH) surging 7,000% in 2017 has appeared again in 2021, suggesting that the asset is on track to reach the moon before Dogecoin (DOGE).

    The fractal indicator from 2017 consists of at least four technical patterns that were instrumental in pushing the price up, including the relative strength index (RSI), stochastic RSI, bullish hammer, and a Fibonacci retracement level. 

    At the time of writing, Ether is worth $3,600, indicating that the price could hit $13,000 if history repeats itself.

     

    Federal High Court of Nigeria approves eNaira CBDC rollout

    The Nigerian Federal High Court has approved the rollout of the eNaira central bank digital currency (CBDC).  

    The CBDC was launched for beta testing on the nation’s 61st Independence Day celebration on Oct. 1 and has now been given the green light to circulate alongside its fiat counterpart. The CBDC is being touted as a faster, cheaper and more secure option for transactions. It will also be supported by an eNaira wallet. 

    The official eNaira website says that the digital version of the Nigerian naira will be made available universally, stating that “anybody can hold it.”

     

    Judge rejects XRP hodlers’ bid to join SEC against Ripple case as defendants

    The ongoing legal dispute between Ripple Labs and the United States Securities and Exchange Commission (SEC) has taken another turn as U.S. District Judge Analisa Torres ruled on Monday that individuals holding XRP tokens cannot act in Ripple’s ongoing lawsuit as defendants. 

    The ruling came after several ambitious XRP hodlers aimed to file “friends of the court” briefs which, if granted, would enable them to join the bloody battle as defendants, alongside Ripple, against SEC assertions of XRP being a security. 

    The judge said the ruling was for their own good, as it would compel the trigger-happy SEC to take action against the XRP hodlers as well. However, it was determined that they could participate as “amicus curiae” — a party that is not involved in the litigation but is allowed by the court to advise or provide information.

     

    Bitcoin returns to $1T asset as BTC price blasts to $55K

    Bitcoin (BTC) returned to its $1 trillion asset status this week as the price surged past $55,000. 

    It appears that the damage caused by the China mining ban in May has been wiped clean, suggesting that there could be a run to new all-time highs in the coming weeks or months. At the time of writing, BTC is worth $54,900 and sits 14.9% below the all-time high. 

    “Honestly, I think we’ll be continuing to see strength on Bitcoin,” Cointelegraph contributor Michaël van de Poppe said, adding: 

    “USDT pairs will be fine on altcoins, but perhaps we’ll be having 6-8 weeks of some corrections on the $BTC pairs, before a new party starts. December/January is often the best period to buy alts.”

     

     

    Winners and Losers

     

     

    At the end of the week, Bitcoin is at $54,176, Ether at $3,612 and XRP at $1.07. The total market cap is at $2.30 trillion, according to CoinMarketCap. 

    Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are SHIBA INU (SHIB) at 244.87%, Fantom (FTM) at 74.68% and Axie Infinity (AXS) at 47.02%.

    The top three altcoin losers of the week are eCash (XEC) at -10.20%, Huobi Token (HT) at -8.70% and Amp (AMP) at -6.85%.

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

     

     

    Most Memorable Quotations

     

    “Policymakers should implement global standards for crypto assets and enhance their ability to monitor the crypto ecosystem by addressing data gaps. […] Emerging markets faced with cryptoization risks should strengthen macroeconomic policies and consider the benefits of issuing central bank digital currencies.”

    International Monetary Fund

     

    “For us, digital assets are not about payments per se. They’re about a new computing paradigm – a programmable computer that is accessible everywhere and to anyone and owned by millions of people globally.”

    Bank of America Securities

     

    “We did a survey of our membership, and it was very impressive: 110 countries are at some stage of looking into CBDCs.”

    Kristalina Georgieva, managing director of the International Monetary Fund

     

    “What a crazy concept this is, that we as a country embrace so many bright, young, talented people to come up with a replacement for our reserve currency. […] I wish all this passion and energy that went to crypto was directed towards making the United States stronger.”

    Ken Griffin, founder of Citadel LLC 

     

    “The best way to look at it, if you’re an investor, either you believe in decentralized finance and centralized finance, and you believe in Bitcoin and Ethereum and the blockchain, or you don’t. If you don’t, stay in gold as a hedge, and if you do, tip into it.”

    Kevin O’Leary, Shark Tank Judge

     

    “I’m not going to get into any one token, but I think the securities laws are quite clear — if you’re raising money […] and the investing public […] have a reasonable anticipation of profits based on the efforts of others, that fits within the securities law.”

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

     

    “My bill with Congresswoman Ross would set disclosure requirements when ransoms are paid and allow us to learn how much money cybercriminals are siphoning from American entities to finance criminal enterprises — and help us go after them.”

    Elizabeth Warren, U.S. senator

     

    “Bitcoin’s $50,000 resistance point since May appears ripe to become the crypto’s support value in 4Q.”

    Mike McGlone, senior commodity strategist at Bloomberg

     

    Prediction of the Week 

     

    BTC bull run has ‘at least 6 months to go’ — 5 things to watch in Bitcoin this week

    This week saw Bitcoin crack the $50,000 mark and continue upward past $55,000. Although upward price action accompanied the start of September, Bitcoin showed more of a downward trend for most of the month. Price action for BTC has posted upward pressure so far for October, but time will tell how the rest of the month plays out.

    On a broader scale, in an Oct. 2 tweet, stock-to-flow model creator PlanB expressed the possibility that the current Bitcoin bull run still has several months of upward action ahead. “My guess: this 2nd leg of the bull market will have at least 6 more months to go,” PlanB said in the tweet, posting one of his BTC stock-to-flow models.

    Several other factors are also relevant to determining Bitcoin’s outlook, including analyses of the asset’s hash rate estimates and technical indicators.

    FUD of the Week 

     

    ‘Evolved Apes’ NFT creator allegedly absconds with $2.7 million

    Hodlers of the Evolved Apes NFT avatar project were left gobsmacked this week after one of the developers reportedly went rogue and swiped 798 ETH, worth around $2.9 million.

    The anonymous developer who goes by the pseudonym “Evil Ape” is said to have dashed off with all the funds generated from the initial mint of the 10,000 tokenized apes, along with the gains from sales on the secondary market.

    Apart from allegedly stealing 798 ETH, Evil Ape also took down the project’s website and Twitter account. There was also a blockchain-based fighting game that was promised by the project’s creators, and while the outlook is grim, the community is driving a recovery initiative dubbed “Fight Back Apes.”

     

    Billionaire Ken Griffin slams crypto as ‘jihadist call’ against the greenback

    Hedge fund manager Ken Griffin was the source of some mixed FUD this week as he slammed crypto as a “jihadist call” against the U.S. dollar. 

    Griffin, who is the founder of the $38 billion hedge fund Citadel LLC, and said that crypto is a “Jihadist call that we don’t believe in the dollar,” as he took aim at the pesky youth for spending so much time working on digital assets.  

    “I wish all this passion and energy that went to crypto was directed towards making the United States stronger,” he added. 

    The Citadel founder, however, stated that his firm is yet to enter the crypto sector due to the “lack of regulatory certainty,” suggesting that he’s more worried about compliance than a jihadist call against the precious greenback.

     

    Gensler confirms SEC won’t ban crypto… but Congress could

    SEC Chairman Gary Gensler said on Tuesday that his agency does not have the authority or intention to ban crypto, stating, “That would be up to Congress.”

    However, Gensler highlighted that many crypto tokens fall under the enforcement power of the SEC. He singled out “financial stability issues” that arise from stablecoins as a key area of focus for the agency.

    “It’s a matter of how we get this field within the investor consumer protection that we have and also working with bank regulators and others — how do we ensure that the Treasury Department has it within Anti-Money Laundering, tax compliance?” Gensler said.

     

    Best Cointelegraph Features

    Beyond Bitcoin: The future of digital assets is bigger than the first crypto

    While Bitcoin is the most recognizable digital asset, it’s just one of many that are here to evolve financial services globally.

    Money in 2030: A future where DeFi and CBDCs can work together

    In coexistence with mutual benefits, decentralized finance and central bank digital currencies will finally make money universally available worldwide.

    What it’s like when the banks collapse: Iceland 2008 firsthand

    “Imagine if the money that you have in your bank account now would suddenly buy you 1/10th of what it had? That happened in a week.”

    [ad_2]

    Source link

  • 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

    [ad_1]

    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.



    [ad_2]

    Source link