Crypto Shuttle News

Tag: Oct

  • 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

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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

    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.

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  • Celestial Leads The Future Of Cross-Chain Gaming Metaverse | by Bit Media Buzz | Oct, 2021

    Celestial Leads The Future Of Cross-Chain Gaming Metaverse | by Bit Media Buzz | Oct, 2021

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    Bit Media Buzz

    Finland, Helsinki, October 29, 2021. Coming up as a first-mover on the adoption of blockchain gaming metaverse on the OEC public chain (formerly known as OKExChain) is Celestial, a cross-chain gaming metaverse trending in the crypto airwaves. Deploying the concept of galactic warfare, Celestial combines the concept of GameFi, SocialFi, and NFTSwap to bring one of the finest innovations to the gaming metaverse.

    Celestial has grown in popularity in the blockchain gaming ecosystem since its inception. Racking up some impressive figures, Celestial initiated a public BETA test on September 14 that contributed to over 70% of OEC public chain trading activity, resulting in high congestion of the OKexchain, with daily transactions topping 1 million at the time.

    After a series of rigorous testing, the official version of the Celestial gaming platform went live on September 29th. Commenting on the impressive launch, the Celestial team reiterated their commitment to the long-term sustainability of the Celestial project:

    “We are excited about the launch of our gaming platform. Being the brainchild of a multi-month period of development, innovation, and rigorous backend testing, this marks the beginning of an important phase in the Celestial roadmap just before our token generation events and subsequent listing on exchanges. We are excited about what the future holds for the blockchain gaming metaverse and we are happy to be leading this adoption.”

    The Celestial platform is built to enable game players to create federations in the Celestial world, explore planets and galaxy clusters, and mine rich minerals and different resources as part of a meta-universe star-wars style game using GameFi + SocialFi + NFTSwap.

    Leading up to TGE: $CELT token has recorded eye-popping success

    While the impressive launch of the Celestial gaming metaverse comes as no surprise, seeing that blockchain gaming adoption has maintained an upward trajectory, the token generation event (TGE) also recorded impressive numbers. The token price soared to the top gainers category after listing on OKEx, a leading Asia-based crypto exchange.

    CELT is the native token that powers the Celestial metaverse economy and is primarily used to settle all transactions in the Celestial metaverse. Since debuting on OKEx, CELT has amassed massive success for token holders after rising to the top-performing assets on the OEC public chain just after 15 days of trading activities.

    Celestial dual token rotation system reduces selling pressure on CELTs

    Celestial adopts a unique token system that allows a dual token rotation mechanism. In addition to $CELT, there is a sub token known as Crystals which is engineered to reduce the selling pressure on CELTs and benefit token holders in the long run.

    Through an in-house mechanism known as Pledge Mining, Celestial incorporates some DeFi futures into its ecosystem to reward players.

    Gamers may utilize this function to pledge mainstream currency like fiat for energy stones (CELT), which can be used to open mystery chests or traded for mainstream currency in CherrySwap. Celestial has introduced an intriguing feature to the DeFi pledge mining — the energy stone mining accelerator, xCELT, which can generate up to three times the earnings of CELT.

    To obtain xCELT, users simply need to mortgage CELT. As the total mining power increases, more xCELT will be needed to keep the process running, which ultimately cushions selling pressure. Currently, the project seems to be pivoting towards decentralized finance while developing its GameFi and SocialFi features. According to Celestial:

    “We think that a healthy self-rotating economic system is essential for every project; once economic development has reached its ideal state, we will enhance SocialFi and GameFi features, and the game launch will be completed.”

    The warring gaming platform seeks to create a socially permeable interplanetary exploration chain game, with player community culture as the pioneer with gaming and decentralized finance as the support. As the blockchain gaming ecosystem expands, Celestial is positioning itself to lead the adoption of the cross-chain warring metaverse.

    For more information on the game: Tutorial Download

    Celestial Official Channels

    Website: https://celt.game

    Twitter: https://twitter.com/GameCelt

    Telegram: https://t.me/CELT_Game

    Medium: https://medium.com/@celestial.gamefi

    Whitepaper: https://celt.game/static/CELESTIAL_Whitepaper.pdf

    Youtube: https://www.youtube.com/channel/UC3L64zz-sbwaEgMVotqLkTA/videos

    Coinmarketcap: https://coinmarketcap.com/currencies/celestial/

    Coingecko: https://www.coingecko.com/en/coins/celestial



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  • Halal MRHB DeFi integrates zkSync’s ZK-RollUp solution for Ethereum | by Bit Media Buzz | Oct, 2021

    Halal MRHB DeFi integrates zkSync’s ZK-RollUp solution for Ethereum | by Bit Media Buzz | Oct, 2021

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    Bit Media Buzz

    Dubai, U.A.E., October 28, 2021 — MRHB DeFi the world’s first inclusive and ethical DeFi platform is integrating the Ethereum scaling solution zkSync, developed by software experts Matter Labs.

    The move will mean that the MRHB DeFi ecosystem will benefit from the low fee transactions zkSync enables, while developers will be able to utilize zkSync technology on the platform’s architecture to improve efficiency, speed, scalability, security and privacy.

    ZK RollUp solves Ethereum Scalability with Zero Security Compromises

    zkSync is an innovative technology that is already live on the Ethereum mainnet. It allows for extremely low transaction fees, relies on a trustless protocol, and keeps funds cryptographically secure. Transactions use zero-knowledge proofs and on-chain data availability to keep users’ funds safe, with computation and storage being performed off-chain.

    “At Marhaba, we strongly believe zkSync will lead the way as a ZK-RollUp solution for Ethereum,” said Deniz Dalkilic, CTO of MRHB DeFi. “Given its ability of 100% Solidity compatibility, fast finality with low fees while having the ability to secure unlimited amounts of TVL($), it makes it the perfect L2 solution for DeFi.”

    Built on ZK Rollup architecture, zkSync ensures that it strictly inherits the security guarantees of the underlying L1. Unlike sidechains, Rollup validator(s) can never be corrupted. Smart-contract friendly, exchange friendly, the technology allows for contract-interoperability and atomic swaps on different exchange protocols and even includes native support for NFTs.

    MRHB CTO Dalkilic highlighted that Vitalik Buterin has declared that “in the medium to long term, ZK rollups will win out in all use cases as ZK-SNARK technology improves.”

    The technology is already in use by a wide range of leading blockchain projects, including Curve, Argent, and Balancer, and was supported in its ecosystem funding round by leading names in the blockchain space, including Binance, Huobi, Coinbase and many more.

    An Ethical and Inclusive DeFi Vision

    MRHB DeFi was founded with a vision of providing greater access to the growing opportunities and utilities of the cryptoverse for excluded and cautious communities, and has a particular focus on delivering faith-based DeFi services which adhere to the ethical investment and financing principles rooted in Islamic Finance, many of which align with the United Nations Sustainable Development Goals. Such business practices include those that avoid interest, usury, social exploitation and other acts deemed unethical as well as support sustainability, asset/utility backed financing, transparency and equitable risk/reward sharing.

    With the Islamic Finance industry sized at around USD 3 trillion of assets, bringing even a small portion of Shariah-sensitive liquidity into DeFi will represent a major boost to the total value of the DeFi sector worldwide.

    MRHB DeFi has also received strategic investments from Blockchain Australia, Mozaic, Contango Digital Assets, NewTribe Capital, Sheesha Finance, Acreditus Partners and EMGS Group.

    About MRHB DeFi

    MRHB (pronounced ‘Marhaba’) DeFi is a decentralised finance platform built to bring ethics to the DeFi space with an approach that supports the inclusion of faith-based and other excluded communities in addition to existing crypto-natives so that everyone can benefit from the full empowerment potential of DeFi to help build a true peer-to-peer financial and economic value system.

    Based on the tenets of blockchain such as trust, transparency, and security, MRHB DeFi has encapsulated universally applicable principles of Islamic Finance into those tenets of blockchain to render a suite of offerings that are also ESG compliant.

    The project is backed by a diverse and strong team with backgrounds spanning crypto, technology, faith-compliant investing, finance and seasoned institutional veterans of industry. The public sale offering will be in December. Register your interest and 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/@mrhbdefi

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

    Telegram (Arabic): https://t.me/mdf_arabic

    Telegram (Russian): https://t.me/mdf_russia

    Telegram (Turkish): https://t.me/MarhabaDefiTR

    About zkSync

    zkSync is taking a cryptography-first approach to scaling blockchains and spearheading the scaling revolution by offering the cheapest token transfers on Ethereum. Next, they are launching general programmability, EVM-Compatibility, and off-chain data availability for a seamless developer and user experience, for the lowest transaction fees.

    Website: http://zksync.io

    Medium: https://medium.com/matter-labs

    Twitter: https://twitter.com/zksync

    Telegram: https://t.me/zksync_community

    Discord: https://discord.com/invite/px2aR7w



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  • The Associated Press Mints and Preserves the Greatest Moments in World History | by Bit Media Buzz | Oct, 2021

    The Associated Press Mints and Preserves the Greatest Moments in World History | by Bit Media Buzz | Oct, 2021

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    Bit Media Buzz

    For the first time, the blockchain offers individuals the ability to verifiably own digital art, images and more. This incredible technology allows individuals to create their own galleries or museums to share with the world the NFTs they have acquired. This decentralization is a major milestone for the preservation of the past. To help NFT collectors safeguard facts and images, the Associated Press, MetaList and Binance are auctioning ten AP news NFTs that mark milestones in world history and human achievement. For the first time, NFT collectors can bring authentic and original AP historic news photos into their collection and help preserve this history forever.

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  • 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.

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  • The Associated Press Auctions New NFTs and Human History emerges as a New, Valuable Market for Collectors | by Bit Media Buzz | Oct, 2021

    The Associated Press Auctions New NFTs and Human History emerges as a New, Valuable Market for Collectors | by Bit Media Buzz | Oct, 2021

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    Bit Media Buzz

    One of the most important features of the blockchain is the permanence of records stored on-chain. When it comes to securing and documenting human history, there has never before been such an important platform. Preserving human history is an ideal role, among many, for blockchain technologies.

    On October 19, MetaList and The Associated Press released The AP UNIQUE Moments Collection. The NFT collection includes 53 significant historical events from 1921–2021. These NFTs were officially auctioned on the Binance NFT market and were also sold in valuable surprise mystery boxes.

    “Undoubtedly, what needs to be remembered most by mankind are the achievements of peace, the breakthroughs in science and technology and the catastrophes that touch the hearts and resolve of all people,” said Sharona Lee, the co-founder of MetaList.

    One of the NFT works included in the series is the 1944 Normandy landing, the largest and boldest military attack in history and the event that determined the power structure of today’s world. AP’s war correspondents were stationed around the world reporting on the historic battles and AP was the first news agency to report the end of World War II.

    In addition, on July 20, 1969, Apollo 11 successfully landed on the moon. The Associated Press dispatched important updates to a waiting world, including the moment that humanity stepped foot on the moon. That historic “news flash” is included in this collection.

    “We want these important stories to last forever and for everyone to see them and understand their significance,” said Dwayne Desaulniers, head of blockchain and data licensing at the Associated Press.

    “We should remember more than just achievements. Disasters are also mirrors that we should reflect on and thus include in this collection,” Sharona Lee said. “So this auction includes some NFTs of those agonizing moments as well, such as a photo from 911’s ground zero following the attack. It is historically included for the world to remember, that horrific event which marks its 20th anniversary in 2021.”

    In addition to these important historical events in the past century, the auction of NFTs also includes historic images of top newsmakers such as Roosevelt, Churchill and JFK. Planet earth and its wonders are also a focus of the collection. Included is the stunning 2018 image of the “Super Blue Blood Moon”, a celestial event occuring once every 150 years.

    “There is no doubt that when we collect memories, we are not only just focusing on certain events. The important faces of the individuals involved in the event are also for history and NFTs to document,” said Sharona Lee.

    Besides the auctioned NFT works, AP and MetaList released mystery boxes containing some of these valuable NFTs. After the sale started, the mystery boxes were sold out in a short period of time.

    Some lucky collectors found surprising and rare NFTs of newsmakers in their boxes, such as Mandela, Che Guevara, Madame Curie and Einstein.

    About MetaList Lab

    Metalist Lab is based in Australia, and is a world-leading publisher of NFTs. It brings countless outstanding NFT designers together with the top names in encryption technology, and has worked with game companies such as NetEase, news and communications agencies such as the Associated Press, as well as many high-level artists and their IPs. Recently it has been distributing NFTs for NetEase’s globally-popular game Naraka: Bladepoint, as well as the “The AP Unique Moments NFT” series.

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  • MRHB DeFi Gets Support Down Under from Blockchain Australia | by Bit Media Buzz | Oct, 2021

    MRHB DeFi Gets Support Down Under from Blockchain Australia | by Bit Media Buzz | Oct, 2021

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    Melbourne, Australia, Oct 21st, 2021 — In a move set to broaden the appeal of decentralized Islamic Finance down under, ethical and faith-based MRHB DeFi has been backed by Australian Institutions such as Blockchain Australia.

    Blockchain Australia is a Melbourne-based technology products and services company that provides industry and company-specific blockchain solutions for startups and entrepreneurs, investors, corporate teams, and venture capitalists and at the same time encourages new ideas by incubating them with the required guidance and mentorship.

    The blockchain firm made strategic investments in MRHB DeFi, a halal ecosystem DeFi platform built on Islamic principles of fairness and benevolence. It aims to bring an ethical, community-first focus to the world of decentralized finance, which has grown in popularity and size from a market with a total value locked of USD1 billion less than a year and a half ago, to USD220 billion today.

    “I would like to thank Blockchain Australia for their support,” said MRHB DeFi CEO Naquib Mohammed. “It is crucial for us to work with organisations that are in a position to help shape the way blockchain and decentralized finance can develop in Australia. I look forward to working with Blockchain Australia to forward our shared goals, and deliver an ethics-focused brand of blockchain to Australia and beyond.”

    Ralph Kalsi, CEO and Founder of Blockchain Australia, expressed solidarity with the vision of the ecosystem startup: “We believe in Marhaba’s vision, which is a unique offering encompassing Islamic trading principles with smart contract-based transparency and open not only to the Islamic community but to the entire world — a laudable ethical cause that has motivated us in Blockchain Australia to back the initiative and help ensure its success.”

    Ethical, Inclusive and Transparent DeFi Ecosystem

    MRHB DeFi was founded with a vision of providing greater access to excluded and cautious communities to the growing opportunities and utilities of the cryptoverse, and has a particular focus on delivering faith-based DeFi services which adhere to the ethical investment and financing principles rooted in Islamic Finance, many of which align with the United Nations Sustainable Development Goals. Such business practices include those that avoid interest, usury, social exploitation and other acts deemed unethical as well as support sustainability, asset/utility backed financing, transparency and equitable risk/reward sharing.

    With the Islamic Finance industry sized at around USD 3 trillion of assets, bringing even a small portion of Shariah-sensitive liquidity into DeFi will represent a major boost to the total value of the DeFi sector worldwide.

    Besides Blockchain Australia, MRHB DeFi has also received strategic investments from Mozaic, Contango Digital Assets, Influx Group, NewTribe Capital, Sheesha Finance, Acreditus Partners and EMGS Group.

    About MRHB DeFi

    MRHB (pronounced ‘Marhaba’) DeFi is a decentralised finance platform built to bring ethics to the DeFi space with an approach that supports the inclusion of faith-based and other excluded communities in addition to existing crypto-natives so that everyone can benefit from the full empowerment potential of DeFi to help build a true peer-to-peer financial and economic value system.

    Based on the tenets of blockchain such as trust, transparency, and security, MRHB DeFi has encapsulated universally applicable principles of Islamic Finance into those tenets of blockchain to render a suite of offerings that are also ESG compliant.

    The project is backed by a diverse and strong team with backgrounds spanning crypto, technology, faith-compliant investing, finance and seasoned institutional veterans of industry. The public sale offering will be in December. Register your interest and 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/@mrhbdefi

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

    Telegram (Arabic): https://t.me/mdf_arabic

    Telegram (Russian): https://t.me/marhabadefi_russia

    Telegram (Turkish): https://t.me/MarhabaDefiTR



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  • MRHB DeFi Receives Strategic Investment from Mozaic, New World Group’s Technology Investment Arm | by Bit Media Buzz | Oct, 2021

    MRHB DeFi Receives Strategic Investment from Mozaic, New World Group’s Technology Investment Arm | by Bit Media Buzz | Oct, 2021

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    Bit Media Buzz

    Mozaic focuses on investing in innovative tech companies seeking to re-invent their industry ecosystems — across emerging, growth and mature markets.

    London, United Kingdom — Oct 14th, 2021 — Community-focused DeFi platform MRHB DeFi has received a strategic investment from London-based investment platform Mozaic to support its transformative vision of bringing the value of the cryptoverse to financially excluded communities around the world. Mozaic is part of New World Group — a global diversified investment company with more than USD 2.5 Billion of group assets-under-management.

    The UK presents a key opportunity to nurture a financially inclusive cryptoverse and this investment is aimed at expanding the reach of MRHB DeFi beyond its core Asia and Middle East base to support the engagement of new UK users and communities who are seeking a more ethical and or faith-based approach to crypto market participation.

    “With a current market capitalisation of USD 2 trillion and growing — the crypto asset space represents an exciting growth opportunity for us and MRHB DeFi’s focus on ethical and inclusive finance resonates strongly with Mozaic’s investment thesis,” says New World Group Partner Sonny Gupta.

    “The strength and commitment of the MRHB team made them natural partners for our inaugural investment into the decentralised finance sector,” he adds.

    “Mozaic’s investment focus on robust and scalable technology businesses with a mindset of long-term value creation, made them natural partners for us as we build the world’s first ethical DeFi platform” says MRHB DeFi CEO Naquib Mohammed.

    “The UK represents a key strategic investor community for MRHB DeFi — and one which we hope to engage better with high quality institutional partners,” he also notes.

    MRHB DeFi was founded with a vision of providing greater access to excluded and cautious communities to the growing opportunities and utilities of the cryptoverse, and has a particular focus on delivering faith-based DeFi services which adhere to the ethical investment and financing principles rooted in Islamic Finance, many of which align with the United Nations Sustainable Development Goals. Such business practices include those that avoid interest, usury, social exploitation and other acts deemed unethical as well as support sustainability, asset/utility backed financing, transparency and equitable risk/reward sharing.

    With the Islamic Finance industry sized at around USD 3 trillion of assets, bringing even a small portion of Shariah-sensitive liquidity into DeFi will represent a major boost to the total value of the DeFi sector worldwide.

    The investment from Mozaic follows investments from Contango Digital Assets, NewTribe Capital, Sheesha Finance, Acreditus Partners and other institutional investors.

    About MRHB DeFi

    MRHB DeFi is a decentralised finance platform built to bring ethics to the DeFi space with an approach that supports the inclusion of faith-based and other excluded communities in addition to existing crypto-natives so that everyone can benefit from the full empowerment potential of DeFi to help build a true peer-to-peer financial and economic value system.

    Based on the tenets of blockchain such as trust, transparency, and security, MRHB DeFi has encapsulated universally applicable principles of Islamic Finance into those tenets of blockchain to render a suite of offerings that are also ESG compliant.

    The project is backed by a diverse and strong team with backgrounds spanning crypto, technology, faith-compliant investing, finance and seasoned institutional veterans of industry. The public sale offering will be in December. Register your interest and 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/@mrhbdefi

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

    Telegram (Arabic): https://t.me/mdf_arabic

    Telegram (Russian): https://t.me/mdf_russia

    Telegram (Turkish): https://t.me/MarhabaDefiTR

    About New World Group & Mozaic

    New World Group is a global diversified investment company with offices in London and Kuala Lumpur. The firm builds, acquires, invests, and scales businesses focusing on long-term growth. New World Group adds value to its partners and portfolio companies through origination and execution to value realisation.

    New World Group and its businesses, including Mozaic, take a global perspective across sectors in which they act as investors, operators and business builders with offices and partners across the world’s most exciting, high growth markets. The company has made 15+ investments to-date and manages more than USD 2.5 billion across 25 countries.

    Learn more about New World Group by visiting its official website.



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  • MRHB DeFi’s Khalid Howlader Leads Discussion on Inclusion at Turin Islamic Economic Forum (TIEF) | by Bit Media Buzz | Oct, 2021

    MRHB DeFi’s Khalid Howlader Leads Discussion on Inclusion at Turin Islamic Economic Forum (TIEF) | by Bit Media Buzz | Oct, 2021

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    Bit Media Buzz

    If you are interested in developments in fintech, cryptocurrency and decentralized finance, the Chairman of MRHB DeFi Khalid Howlader, is set to appear on a panel at the upcoming Turin Islamic Economic Forum (TIEF), this Wednesday in Turin, Italy.

    According to the “State of the Global Islamic Economy Report” (Thomson Reuters, 2020/2021), with governments and banks encouraging Islamic finance and improving financial inclusion, both Muslim-majority and minority countries have started to recognize the untapped potential of the Islamic Finance sector. Islamic Finance is continuing to expand and the report states that it could become an important part of the future of developed nations’ ability to attract fresh capital for investment in infrastructure, new technologies, renewable energy, real estate and strategic resources.

    You can find out more about the event here: https://www.tief.it/?lang=en

    Khalid Howladar, is Chairman of MRHB DeFi, the world’s first ethical and faith-based decentralized finance platform.

    He is also Senior MD and Head of Credit & Sukuk for R.J. Fleming & Co. and was previously Global Head of Islamic Finance and Head of the GCC banking team at Moody’s Investors Service, London and Dubai. He has addressed audiences worldwide including at the World Bank, IMF, ECB and IIF.



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  • The Associated Press will Release 53 UNIQUE Moment NFT Collections for the Past 100 years on BinanceNFT | by Bit Media Buzz | Oct, 2021

    The Associated Press will Release 53 UNIQUE Moment NFT Collections for the Past 100 years on BinanceNFT | by Bit Media Buzz | Oct, 2021

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    Bit Media Buzz

    New York, NY, Oct 11, 2021 — For 175 years, the Associated Press has provided the world with accurate and fast news reporting of the most important events around the globe. With fearless staff and news bureaus in 250 locations in 100 countries, AP journalists have covered moments of great joy, scientific breakthroughs, achievement, and accomplishment as well as moments of loss, despair and agony.

    AP is dropping a unique, curated collection of its rare, archived news reporting of the most memorable moments in recent world history. To release this unique series of collectibles, AP is collaborating with Metalist Lab and the collection will drop on the Binance NFT marketplace on October 19th, at 12pm UTC.

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