Home Blog Page 30

NBA’s Philadelphia 76ers Partners with Crypto.com To Offer NFTs

By
Adam Barry
-
0

Crypto.com announced that it is the formal partner for the 76ers official jersey patch. Meanwhile, it is learned that the two will launch the debut 76ers’ NFTs. Thus, the crypto platform has is the official jersey patch partner of the U.S. basketball team. 

Non-fungible token (NFT) will be launched as part of the partnership

According to sources, Crypto.com currently has more than 10 million global users who take advantage of its platform. As one of the pioneering initiatives of the deal, 76ers will unveil its non-fungible token (NFT). Those who are interested in owning them can purchase the 76ers first on the Crypto.com NFT platform. 

Reactions pour in following the developments

The 76ers President of Business Operations, Chris Heck, stated that he is excited to enter this long-term partnership. Heck added that partnering with Crypto.com makes him more than just happy. He noted that both partners are thirsty to strive to greater heights and added that together the two could transform the way crypto is dealt with in sports.

Commenting on the first-ever NFT program, the President of Business Operations lauded the efforts of Crypto.com to launch an initiative of this kind. He added that the group yearns to strike innovative yet creative partnerships. Heck expressed joy and excitement in sharing the news with fans based out of Philadelphia and across the globe. 

Meanwhile, the CEO and co-founder of Crypto.com, Kris Marszalek, said that the group is more than excited about the partnership. He added that the NBA is one of the well-known leagues globally and informed that the 76ers are a great choice to join hands with during these times. Marszalek said that the two are committed to offering fans a great sporting experience. 

Crypto.com has inked many partnerships in the sports industry

Crypto.com has inked partnerships with many names in the world of sports. The crypto platform has inked deals with UFC, Formula 1, National Hockey League’s Montreal Canadiens, Paris Saint-Germain, and the likes. The latest is the partnership the group has entered into with NBA’s Philadelphia 76ers to offer NFTs. 

Crypto.com patch will be featured in the 76ers uniform

The Crypto.com patch will be featured in all four versions of the 76ers uniform that the team will use for the forthcoming season. A source shares that it will be etched on the left shoulder of the jersey. 

Problems Flaming Up in El Salvador’s Bitcoin Legalising Movement

By
Adam Barry
-
0

On Independence Day, the government of El Salvador ran a movement to adopt Bitcoin. But most of the citizens were not happy about it, and they took it to the roads and protested to show their disappointment and strongly opposed the Bitcoin adoption as Legal Tender.

The internet is filling up with the news of these anti-bitcoin protesters causing an eruption in El Salvador. People can be seen waving signs saying “no to bitcoin,” “resisting Bukele Regiment,” “no corrupt money laundering” in San Salvador. The protestors even demolished the ATMs that were set up for Bitcoin transactions. A digital wallet, Chivo, was launched by the government for transactions with crypto ATMs.

First Country to Adopt Bitcoin

El Salvador is the first country in the world to authorize Bitcoin as legal tender. Nayib Bukele, the President of El Salvador, initiated the movement of crypto adoption all over the country on September 7. He thought Bitcoin would make money transactions faster and cheaper.

While this being the case, research done with 1,281 people shows 67.9% do not want Bitcoin, and they firmly disputed the authorization. The result of this research clarifies the unpopularity of Bitcoin policy. Moving further, the price drop and technical difficulties make the movement even more complicated. These issues urged 1000s of protesters to march on the Capital. 

President Bukele’s dictatorship infuriated the disruptors twice over. First, El Salvador’s judiciary ordered the president to take up re-election on September 3. But Bukele’s government dismissed the bench and nominated new judges after a month. 

The government’s action against the judiciary clearly states the abuse of power, especially for the US Embassy in that particular area. However, while all of this adds fuel to flames burning in El Salvador, the government will recover the situation. 

El Salvador court of accounts, which manages the public resources, said they received complaints on the government’s Bitcoin purchase and crypto ATM construction. The complaint was claimed to be received on September 10 from a human rights transparency organization named Cristosal.

Turkish Central Banks Signed Agreement With Local Tech Firms for Digital Currency R&D

By
Adam Barry
-
0

The Central Bank of the Republic of Turkey signed agreements with various technology firms to form the digital Turkish Lira collaboration platform. CBRT made a forward step with research and development with the domestic companies for the Turkish lira platform. On September 15, the Turkish Central bank announced that it entered into an agreement with three research and development companies for its collaboration platform. The domestic technology companies included in the project are anticipated to expand as the project moves forward. 

Collaborated Technologies

The three technology shareholders are Aselsan, a significant defense corporation, TUBITAK, information security research center, and informatics, Havelsan, software, and systems developer in the I.T. and defense sectors. At the same time, the announcement from the CBRT does not clarify the technological infrastructure fundamental of the project. However, project collaborators are expected to be assisted in developing and testing the prototype of the project, and the announcement stated that it would adopt blockchain technology. The new digital lira project did not commit similar to the digital euro to digitizing Turkish’s currency. The information indicates the CBRT has made no final decision about the digital Turkish lira’s issuance. 

The CRBT initiates the test to check whether the technology satisfies the standard required for the implementation. The test results are expected in 2022. Moreover, the Turkish central bank banned cryptocurrency and other digital assets payments in earlier summer and limited the financial services range available to crypto businesses. The bill made to establish regulatory clarity on digital assets awaits a parliamentary vote. 

Coinbase Strikes Another Deal with the U.S. Government

Coinbase and U.S. Homeland Security agreed on another million-dollar deal today. The agreement indicates that the U.S. government will use Coinbase’s services to review data from the country’s residents. For the analytics software, the U.S. government paid $1.36 million for licensing to Coinbase, and the software is dedicated to illegal immigration and cross-border crime. However, according to the documents from Coinbase, there is no hint of what type of data will be reviewed. 

Swiss Bank Predicts a New High for Bitcoin by Mid November

By
admin
-
0

Swiss forex bank predicted Bitcoin’s price target based on its daily, weekly, and hourly charts on September 16, 2021. In the analysis video, Jean-Francois Owczarczak, director of FanGraphs, stated that NASDAQ is related to Bitcoins and their daily and weekly graphs witnessed a total upward. Moreover, Owczarczak adds that the NASDAQ’s risk on both daily and weekly graphs is acquiring overbought. 

Therefore, the NASDAQ’s overbought in the risk index might lead to price correction in the growth and NASDAQ trades. Also, that can result in some regression in other digital currencies and Bitcoin. However, the upward graphs still hold the place and are expected to stay uptrend until mid-November for Ethereum and Bitcoin. 

Jean-Francois Owczrczak’s Statement

Owczarczak stated that the graph is still in an uptrend on they had a substantial correction into early summer. Then a recovery since then, they believe this consolidation range is working its way. So it should find assistance to move higher and attest the highs did this spring at some point into mid-November. He also adds that the risk index is still relatively low, letting some leeway to the upside. According to CoinMarketCap, Bitcoin exchange hands at $48,126 by 2.11% in the last 24 hours and by past week 3.68%. Although Bitcoin fell from its high of nearly $65,000, Ark Invest is quite confident that the cryptocurrency and other digital assets could hit $500,000 within the upcoming five years. 

Crypto Community Sentiment Stays Bullish on the current Market.

Despite Bitcoin surged past the significant $50,000 mark for the first time in three months and dropped to $46,000; still, the crypto community Sentiment is bullish. However, Bitcoin fell toward $48,000 on September 19, as crypto consumers reacted to short-term oversold situations. Moreover, BTC was down by 3% on September 18 and 19. Also, in the same period, market cap, the second-largest crypto down by 5% in Ethereum. Nevertheless, this poor performance doesn’t affect the crypto community’s optimism. 

South Korea Set to Delay Cryptocurrency and Bitcoin Taxation Laws

By
Adam Barry
-
0

South Korea’s current democratic Party plans to pass a bill that could delay the cryptocurrencies taxation in the entire country. According to the officials, due to the lack of a proper framework, the taxation of cryptocurrencies may delay. Moreover, the ruling party is against the plan of enforcing tax on gains made from cryptocurrency investments. As per the recent report, the Party even passed a bill that could hang the legislation slated to effect at the beginning of 2022. 

Party Management’s Statement

A member of the Democratic Party, Non-Woong-Rae, stated that the country doesn’t have a proper relevant structure to implement a taxing system. Therefore, the deferral of taxation on digital assets is an inevitable delay. In addition, he stated it is hard to track overseas operations with virtual assets or P2P transactions, so the policy of enforcing tax from the Ministry of Finances would fail. Moreover, he ensured that the Party would settle the case by taking the issue to the National Assembly.  

Hong Nam-Ki, South Korea’s finance minister, anticipates imposing the new taxation law from 2022. However, he predicted earlier that it matter of when and not if. In addition, most people in South Korea are optimistic about digital assets, while there is a doubt about cryptocurrencies on the Korean authorities. 

California has become the Most Crypto-Currency Province in the United States.

California takes the major part in a global crypto ready index by Crypto Head. Hence, California ranks as the most crypto territory in the United States and out on top. Especially, California has become the first state to rank the highest in crypto-related Google searches among other US states. This includes ATM installations for Bitcoin and several blockchain bills in the country. In terms of crypto index scoring, California has the highest score of 5.72 out of 10 among four US-based states. Following California, next in line is New Jersey, with a score of 5.44. Moreover, currently, California is also leading in the crypto ATMs. 

Canadian Political Party Leader, Maxime Bernier, Pledges Allegiance to Bitcoin Ahead of Election Polls

By
Adam Barry
-
0

The leader of the fastest-growing political party of Canada, Maxime Bernier, has paid his loyalty to Bitcoin and cryptocurrencies before a week of the country’s federal election. People’s Party leader, Maxime Bernier, showed his support for crypto, Bitcoins, and other digital assets. 

Maxime Bernier’s Statement

Bernier said that he wholly supported digital assets and Bitcoins, and he hated how the central banks were destroying their money and economy. Moreover, he expressed himself as an old-fashioned gold and silver fan; however, Bernier believes cryptos are innovative and another way to counter the issue and be encouraged. 

Bernier’s recent statement corresponds with previous ones criticizing the current system and inflammation of the money supply. Also, he was condemned for abusing Keynesian apparatchiks, printing money at the Bank of Canada to fund Prime Minister Justin Trudeau’s gigantic deficits. In addition, Bernier’s tweet acquired ten thousand likes and support from crypto enthusiasts. Many Bitcoin users encouraged Bernier for his support. Furthermore, Stephan Livers, the managing director at SwanBitcoin, stated that Bitcoin is Canada’s only chance. Gold is too susceptible to capture and centralization. Therefore, Livera strongly suggested that Bitcoin is superior to gold. 

According to the people’s Party website, the party brings populism, libertarianism, and classical conservatism together with a commitment to reducing the size of the government. As per the polls prediction, the People’s Party could win 6.1% of the vote in the upcoming election despite no seats in parliament. 

El Salvador Ranks Third In Global Bitcoin ATM Installations

Currently, El Salvador hosts the third-largest network of crypto ATMs. After Canada and the United States, El Salvador amounts to 70% of all digital assets ATMs in South America. According to data, El Salvador exceeded the United Kingdom’s Bitcoin ATM count after deploying 205 Bitcoin ATMs to facilitate local Crypto transactions to U.S dollar conversion.

DeFi Land to Use the $4.1 Million in Contributions for Unveiling the Decentralized Finance Game on Solana

By
Adam Barry
-
0

The diversification of the cryptocurrency and blockchain industries continues sparking many exciting opportunities, part of those being gaming and decentralized finance. DeFi Land happens to be a leading gamification platform that continues to do a lot to improve its business standing. It reveals details about how it successfully secured about $4.1 million, which it intends to use to develop a new decentralized finance game on Solana.

Major contributors

A massive investment round witnessed some of the most prominent players converge for a common course. Those who gave their contributions in the round included  Jump Capital, NGC Ventures, Animoca Brands, Alameda Research, Gate.io, and the Solana Foundation.  All these investors hope that DeFi Land puts their contributions into good use.

The operation of DeFi Land takes the form of an agriculture simulation game that successfully gamifies several aspects of decentralized finance. In an interview, one of the leaders spoke about the great need to develop educational solutions that will work for all users focused on exploring DeFi or other alternative finance solutions.

It is a rather elaborate platform that brings to light a play-to-earn model that makes it possible for users to earn income to hit particular milestones or complete tasks.

Lee speaks out

A senior executive at Alameda Research Brian Lee, opines, “DeFi Land blends two of the most interesting things happening in crypto right now — gaming and DeFi. This increases the odds of casual gamers and crypto users entering the decentralized finance market for the first time.”

DeFi Land mainly targets retail investors who have enough exposure to cryptocurrency. The other group it targets happens to be gamers who haven’t yet made their way into the market. Reports indicate a shift in the decentralized finance market, in which case a significant part this time comprised of institutional investors.

Mastercard Inc (NYSE: MA) Speaks about its Scquisition of CipherTrace, a Top Crypto Forensics Outfit

By
Adam Barry
-
0

Mastercard Inc (NYSE: MA) shift to crypto and digital assets has been rather evident lately, and it is all about diversification and better service delivery. This global payments giant has bought a blockchain intelligence firm with crypto forensics capabilities called CipherTrace in a deal worth 900 cryptocurrencies. It has many plans for the future, part of that being the much-anticipated integration of CipherTrace technology with its cyber capabilities. It hopes that it will succeed with integrating the real-time payments architecture and its card in the long run.

Details about the adoption

The company believes that deal is crucial because it brings into play the possibility for clients and partners to move swiftly through the adoption of digital assets. In addition, it considers compliance with the financial regulatory provisions to be an essential part of the broader scheme.

Mastercard’s cyber and intelligence chief Ajay Bhalla is one of the top officials that have spoken about the matter. The leader applauds the fast growth of the crypto market, outlining a great need to look for safe and trusted operations to succeed in that regard.

Bhalla’s perspective

The leader says that his company has been one of the several companies that have become visible within the crypto and blockchain investment landscape, outlining that they will continue vigilance. Part of the company’s efforts includes striking business collaborations with some of the leading crypto primitives. Some of those that fall under the crypto credit and debit card arena include BitPay and Gemini.

In July, the company’s CEO spoke about their plan to set up a significant presence in the massive and fast-growing crypto landscape. At that time, the company had talked about its plan to rise and become a de-facto testing partner for most of the central bank digital currency projects and the stablecoin.

Russian Duma Intends to Regulate Cryptocurrency Mining as Business

By
Adam Barry
-
0

As Russian digital assets advocates continue to try and lure in global cryptocurrency mining operators, local legislators have become more serious when it comes to the regulation of the industry. The Russian State Duma Committee’s Chairman on Financial Markets, Anatoly Aksakov, claimed that lawmakers in Russia are now starting to consider recognizing the cryptocurrency mining space as some kind of entrepreneurship effort under local business rules and regulations.

Senior Management

Anatoly Aksakov said that as cryptocurrency mining slowly becomes some kind of entrepreneurial activity, there’s an obvious need to integrate into the nation’s register, to impose relevant taxation and to categorize it as an entrepreneurial activity which will be controlled by appropriate rules and regulations. Aksakov continued to say that the government as a whole is working actively on many different legal initiatives linked to the cryptocurrency space and that they were expecting to legislate bills for cryptocurrency taxation as well as digital currency mining and issuance. He also stressed how bad digital assets need more regulatory clarity.

Alfacash’s director and a former Deloitte CIS senior attorney, Nikita Soshnikov, believes that practical applications for this particular space will most likely be limited to mainly tax obligations and business registration. However, officially recognized as a legitimate business to a certain degree, of course.

The country officially put in place a pretty standard legal framework designed to regulate cryptos like BTC (Bitcoin) as part of the country’s “On Digital Financial Assets” law. This law prohibits the use of cryptocurrency as a method of payment. Even though cryptocurrency investment is officially legitimate, the law didn’t provide clear guidelines for many industry aspects, like rules for reporting and owning digital asset holdings, mining, taxation, and so on.

In a first reading, the Russian State Duma approved a separate bill on cryptocurrency taxation, which required residents to disclose cryptocurrency transactions of amounts that exceed an annual total of $7,800. In addition, the Russian Federation’s Council of Judges made an official statement regarding the rights Russian judges have when it comes to owning cryptocurrency.    

The Swedish Central Bank Predicts that Bitcoin may Collapse

By
Adam Barry
-
0

The Central Bank of Sweden has likened BTC and other digital assets to selling and collecting stamps. Stefan Ingves, the bank’s governor, firmly believes that the cryptocurrency market will swallow a lot of private money and put many people at a loss. He has these bearish believes because cryptocurrency and digital assets can’t function properly without support from the government or financial regulators.

The governor aired his sentiments at a financial event held in Stockholm. Even though he admitted that one could still make a profit trading crypto, he further claimed that this was also something you could do with stamps.

How do the big players feel?

Several significant players like Cathie Wood and Elon Musk have endorsed the crypto industry. But, central bank governors and financial regulators are still comparing the crypto market to a bubble setup that could crash and burn at any moment. Ingves is one of the people who have predicted the downfall of Bitcoin as its popularity continues to grow even amidst the increasing regulations that keep coming up. Speaking of burdensome regulations, the United States Securities and Exchange Commission threatened to seek legal action against Coinbase if it continues with the launch of its lending product.

Even though most financial regulators continue to clamp down on the cryptocurrency market, some nations like Panama and El Salvador want to embrace digital assets by making BTC a legal tender.

Earlier this year, the Swedish Central Bank tested its proposed CBDC (central bank digital currency) with Handelsbanken, a Swedish-based commercial bank, as it tried to move on from just accommodating stimulated participants. Handelsbanken, which is the biggest commercial bank by assets in the country as of 2019, will collaborate with Riksbank to see how well the CBDC does out in the real world. In April, governor Ingves said that the central bank would bring in other commercial banks into the fray. He claimed that this plan would reach fruition before the next five years were up.

1...293031...66Page 30 of 66

EDITOR PICKS

POPULAR POSTS

POPULAR CATEGORY

©