roadrunner

PRESS RELEASE. The crypto world is as innovative and exciting as fickle and dynamic. Understanding the market needs and keeping up with the latest trends and changes is crucial if we want to advance and reach new heights. KICK.IO has big plans for the upcoming year, and one, in particular, will make a significant change for both the platform and the users. The dawn of cross-chain bridges Since its inception, blockchain technology has become one of the most reliable ways of virtual asset transfer without third-party players. And now, this far-reaching technology is going even further. Instead of keeping within the limits of one blockchain – cross-chain bridges will help move away from segregation and tribalism to blockchain interoperability. And KICK.IO is not far behind – it is expanding beyond Cardano. The team believes that the implementation of cross-chain solutions is the future. Cardano is KICK.IO’s home, and the goal is to stay Cardano-centric. However, introducing KICK.IO to other blockchains will be a fundamental part of the road ahead. One of the critical missions is to create a safe and inclusive environment for everyone to launch projects, vote, and participate in KICK.IO’s soon-to-be-upgraded project endorsement system. That’s why KICK.IO will start operating on different blockchains. Operating on different blockchains will allow KICK.IO to take a step further towards a more unified and diverse ecosystem. It’ll also help accommodate changing needs and improve existing communication and transfer processes between blockchains. And cross-chain bridges aren’t the only novelty feature KICK.IO will incorporate – there’s quite a bit more to look forward to in the upcoming year. Website update and a new endorsement system in 2022 Q2 This quarter the team will focus on three main points: UX/UI updates A new 5 Tier endorsement system Listing KICK tokens in a centralized exchange The website update will help solve navigational obstacles and reflect its new focus. KICK.IO is currently the only platform that doesn’t limit its users and gives everyone an equal opportunity to buy into projects regardless of their monetary contribution. The 5 Tier endorsement system will help to consolidate this further. Instead of the current 5% rewards rate, users will gain 7.5%, making their payout up by 30% regardless of the tier they choose. And finally, the KICK token CEX listing process will significantly improve trading, allowing trading tokens right here on KICK.IO. KICK.IO to build cross-chain bridges in 2022 Q3 Q3 will be a crucial quarter for the team. Aside from wrapping up and launching the website update, KICK.IO will also introduce cross-chain support, including ERC20, BSC, and Polygon. It’s an important step forwards as this will help create a more cohesive ecosystem and open up new opportunities. Another important feature the team plans to present is swap integration. As the group seeks to make KICK.IO a unifying platform, introducing the ability to swap different tokens and coins on the platform will both simplify the process and save time. 2022 Q4 – platform decentralization Aiming high and pushing ourselves forward is part of KICK.IO. The company will move to decentralize the platform and introduce wallet support thoroughly. Another critical aspect the team will work on during this quarter will be implementing the voting system. It will allow the users to have a more meaningful impact on the KICK.IO ecosystem by voting on which new projects should be included on the platform. Cardano Light DEX implementation in 2023 Q1 The last step in the current roadmap encompasses changes to the Cardano blockchain. With the launch of a light version of decentralized trading, people will be able to trade tokens. Conclusion KICK.IO has big plans for this year – the team is passionate about the technological advancement that benefits everyone. Introducing KICK.IO to other blockchains will be a massive step in the right direction. So stay tuned for more news! About KICK.IO Twitter | Telegram | Medium | Website This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

A push to prohibit the energy-intensive proof-of-work mining of cryptocurrencies in Norway has been rejected by the majority of lawmakers. The ban had been suggested by the far-left Red Party which also didn’t win backing to raise an electricity tax for crypto miners. Norway Will Not Ban Bitcoin Mining The parliament of Norway has considered and voted against a draft law banning the minting of digital currencies based on the proof-of-work concept. The legislation, which was proposed by the communist Red Party in March, was supported only by two other leftist parties, SV (the Socialist Left Party) and MdG (the Green Party). “We are obviously disappointed with the majority here,” Red lawmaker Sofie Marhaug told the E24 news portal. She added that the Norwegian society must determine its priorities regarding power usage. Her party says bitcoin mining is extremely energy-intensive and insists on putting an emphasis on the needs of other industries and climate change goals. However, as Marhaug pointed out, the majority in the Storting, Norway’s legislature, wants to prioritize the market, and “give the bill to Norwegian electricity consumers.” The Red also failed to win support for a proposal to revise the electricity surcharge for mining data centers, accusing the Labor Party (Ap) and Centre Party (Sp) of breaching a pre-election promise. The two parties had announced they would seek a full electricity fee for mining farms. While households, many businesses, and the public sector currently pay 0.15 kroner (approx. $0.02) per kilowatt-hour of spent electricity, the industry, including data centers, enjoys a reduced levy of just 0.0055 kroner per kWh. In February, the Norwegian government said it will try to avoid imposing a crypto ban, but made it clear it was considering various measures regarding the electricity consumption in the sector. In November, Norway admitted it’s mulling over ways to limit the environmental impact of bitcoin minting and may support a Swedish proposal for a European ban on proof-of-work mining. “In a time of energy scarcity and challenges with cutting emissions, it is particularly harmful that power is wasted only to enrich individuals rather than being used for socially beneficial purposes,” the three leftist parties said. However, the parliamentary majority has objected to the politically motivated discrimination against mining data centers. What do you think about the debate in Norway on the future of the crypto mining industry? Share your thoughts on the subject in the comments section below. View the full article

According to statistics on Friday, May 13, the top stablecoins by market capitalization are currently worth $163.7 billion after the stablecoin economy was valued at close to $200 billion just last week. Of course, the climactic terrausd (UST) failure wiped out billions from the stablecoin economy, and Binance’s stablecoin BUSD has recently entered the top ten crypto market capitalization positions. Just as it caused carnage in the crypto economy, Terra’s recent downfall has caused a great shift within the stablecoin ecosystem. The Stablecoin Economy’s Great Shift It was only a week ago when the stablecoin economy was awfully close to surpassing the $200 billion mark, but Terra’s recent collapse changed all that. Terra’s once stable token terrausd (UST) was once the third-largest stablecoin in existence until it lost its $1 parity. The token that’s supposed to be pegged to a U.S. dollar’s value is now trading for under $0.20 per unit. Still, the market valuation makes it the sixth-largest market cap in coingecko.com’s “Stablecoins by Market Capitalization” list. During the last month, out of the top ten stablecoins by market valuation, none of the stablecoin projects saw growth. USDC dipped by 0% over the last 30 days, while all the other top stablecoins saw 30-day declines. BUSD is now the third-largest stablecoin token today with a $17.3 billion market capitalization and BUSD has also stepped into the top ten crypto coins by market cap, taking the ninth position among 13,000+ coins. Makerdao’s DAI token is now the fourth-largest stablecoin market capitalization with $6 billion today. Makerdao’s native token MKR jumped 15% in value during the past 24 hours taking on some of UST’s fallout. In fact, most of the stablecoins that have managed to remain stable and have reaped the benefits of UST’s crash. While Some See the Need for ‘More Regulatory Framework’ Around Fiat-Pegged Coins, Some Believe a Decentralized Stablecoin Is Still Needed On May 12, 2022, Circle Financial’s CEO Jeremy Allaire tweeted: “USDC/USDT is the trade of the day. Flight to quality.” The Circle executive appeared on CNBC’s broadcast “Squawk Box,” and noted that there needs to be “more regulatory framework around stablecoins.” A number of people have been watching the performance of so-called decentralized and algorithmic stablecoins extremely closely since Terra’s downfall. Despite the recent Terra UST carnage, many still believe there’s a great need for decentralized and algorithmic stablecoins among the centralized giants. Avalanche (AVAX) founder Emin Gün Sirer believes the crypto ecosystem needs a decentralized stablecoin. A day before LUNA went under a U.S. penny, Gün Sirer said: “Even fully-collateralized fiat stablecoins have de-pegged. Even some of the weak [algorithmic] stablecoins have recovered.” The AVAX founder also stated that he had “always said that [algorithmic] stables are subject to destabilizing bank runs.” Despite the bank run risk, Gün Sirer explained that a decentralized stablecoin is still needed in the industry. “We need a decentralized stablecoin,” Gün Sirer detailed. “Fiat-backed stables are subject to legal seizure and capture. A decentralized economy needs a decentralized stablecoin whose backing store cannot be frozen or confiscated.” What do you think about the stablecoin economy shuffle this week? Let us know what you think about this subject in the comments section below. View the full article

On Friday, the value locked in decentralized finance (defi) protocols dropped to a low of $110.35 billion after there was more than $200 billion total value locked (TVL) eight days ago on May 5. One specific defi protocol called Lido, a liquid staking platform and the second largest defi application in terms of TVL size today, has lost significant value losing 49.66% during the past week. Curve’s stETH:ETH Peg Skews, Lido Adds New Pool With Liquidity Incentives While being exposed to the Terra blockchain blunder, Lido’s bonded ethereum tokens have been under pressure due to an imbalance on Curve’s bonded ethereum (stETH) and ethereum pool. The liquid staking defi protocol Lido announced that it was deploying liquidity incentives to Curve Finance in order to improve the imbalance that has been taking place around the stETH:ETH peg. “We are deploying an additional Curve Finance pool to improve the liquidity around the stETH:ETH peg,” Lido tweeted on May 12, 2022. “This new pool will feature an additional 1M LDO in incentives for the next week and is currently almost empty, suggesting high rewards to initial depositors.” Before the announcement, Curve’s stETH:ETH pool was showing a 2% discount amid the chaos surrounding the Terra blockchain. Crypto journalist Colin ‘Wu’ Blockchain explained what was taking place on Thursday. “The ETH/stETH asset ratio in Curve’s largest TVL steth (ETH+stETH) pool is skewed,” the journalist tweeted. “ETH/stETH=36.48%/63.52%, people are exchanging stETH back to ETH. Users who are using stETH for leveraged staking need to be aware of potential de-pegging risks.” Team Plans to Migrate Curve and Balancer Pools, Lido’s TVL Shed $10.26 Billion in a Week’s Time In the same Twitter thread, Lido described the firm’s plan to mitigate the issue on Curve’s platform. “[The plan is to] migrate liquidity from the existing Curve and Balancer pools to a new one (recommended deposit ratio at current rate is 13 stETH for every 1 wETH) to maximise rewards,” Lido added on Thursday. “The new pool contains 1,000,000 LDO for the next week in rewards.” Some people questioned the move to create a new pool on the largest defi protocol in terms of value locked. “Is it a good idea? UST was attacked during liquidity migration,” one individual asked. The liquid staking application Lido also had significant exposure to the Terra blockchain and 49.66% in value has left the platform since last week according to defillama.com stats. Lido currently holds $9.13 billion in value but on May 5, it held $19.39 billion. $10.26 billion has been removed from Lido’s TVL since May 5 and $4,130 in LUNA remains. What do you think about Lido adding liquidity incentives to Curve’s pool? Let us know what you think about this subject in the comments section below. View the full article

PRESS RELEASE. The Vietnamese music celebrity’s videos have garnered close to 2.5 billion lifetime views on Youtube. RACA Hits a High Note Radio Caca (RACA), one of the world’s leading Web 3.0 companies, today announced the collaboration between Radio Caca and Vietnamese celebrity singer Son Tung M-TP, who will join its United States of Mars (USM) Metaverse. Son Tung M-TP’s Art Gallery, dubbed M-TP Galaxy, will have its opening ceremony and host his first-ever Metaverse Concert in the USM Metaverse at an upcoming date, becoming the first Vietnamese celebrity to do so. The renowned singer was chosen via a community poll for RACA’s next Celebrity Partner approximately three weeks prior. Along with Son Tung M-TP, Olympics Gold Medalists – Walter Wallberg Francesco Friedrich Johannes Ludwig Kaylin Whitney and Formula-E World Champion – Sebastien Buemi have also been announced as RACA Ambassadors today. What is the USM Metaverse? In the USM Metaverse, users can join concerts, sing-along, dance with pop stars, socialize, and enjoy popular NFT exhibits. Previously, award-winning Moroccan-American rapper, songwriter, and record producer French Montana joined the USM Metaverse as an official resident and creator. French Montana will also host a house party for RadioCaca’s 1st Anniversary on May 17 at his Los Angeles home, The Hilles House. There is also one special guest, Dr. Tracy Fanara, the only woman who is going on the Space Moon Trip in May 2023 with Japanese billionaire Yusaku Maezawa. About SON TUNG M-TP Nguyen Thanh Tung, born in 1994, known professionally as Son Tung M-TP, is a Vietnamese singer, songwriter, producer, and actor. He is not only known as one of the most successful Vietnamese artists and as the “Prince of V-pop,” but also as the Chairman of three self-created companies: M-TP Entertainment, M-TP Talent and M-TP & Friends. He has received many achievements: an MTV Europe Music Award, an Mnet Asian Music Award, appeared on Forbes Vietnam’s 2018 30 Under 30 list, and is also the first Vietnamese musician to enter the Billboard Social 50. Up until now, he has already released a total of 26 songs, such as “Cơn mưa ngang qua,” “Em của ngày hôm qua,” “Âm thầm bên em,” and many more. His single “Chạy ngay đi” was released with a music video featuring Thai actress Davika Hoorne, and with a collaboration with rapper Snoop Dogg, he went on and created the big hit “Hãy trao cho anh.” After releasing “Có chắc yêu là đây” in 2020, the song became the 3rd most-streamed Youtube premiere at the time with 902,000 live viewers. His most recent release is the single “There’s No One At All.” This is also his very first English song, composed and produced by himself. As we all know, music is, without a doubt, the easiest way to connect people. For Son Tung M-TP, music is everything he ever wanted to offer to the world around him with all his heart and soul. About Radio Caca $RACA Founded in May 2021, Radio Caca is a leading provider of Web 3.0 solutions whose product line currently consists of the United States of Mars (USM Metaverse), the play-to-earn NFT game Metamon, and three NFT marketplaces. One is a profile picture (PFP) platform called OpenPFP.com. Another is a centralized NFT marketplace in Metamon World. The third is a decentralized marketplace called Radio Caca NFT Market. Through a third-party agreement, RACA is also the exclusive manager of Maye Musk’s (Elon’s Mother) NFT. Its total revenue from NFT proceeds in 2021 was $142 million. Radio Caca has a strong and growing community with more than 609,000 Twitter followers, 487,000 Telegram members across global communities, and 66,000 Discord members. The company is backed by OKX Blockdream Ventures and ConsenSys Mesh’s Tachyon Accelerator. Radio Caca V2 is currently listed on exchanges such as OKX, BingX, Poloniex, KuCoin and Huobi Global. The RACA token has been bridged to ETH and OEC and will be bridged to Solana, Klaytn, Polkadot, and more public blockchains in the near future. Quick Links (1) Twitter: https://twitter.com/RadioCacaNFT (2) Website: https://www.radiocaca.com (3) Discord: https://discord.com/invite/34qREVgv3h (4) Instagram: https://www.instagram.com/raca_nft/ (5) Telegram: https://t.me/RadioCaca (6) Medium: https://radiocaca.medium.com/ Media Contact. Email: media@radiocaca.com This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

Cryptocurrency markets were mostly in the green on Friday, as DOT was up by nearly 40%, moving away from an 18-month low. Although SOL, AVAX, and MATIC all rose by over 20%, it was SHIB that was one of the standout gainers in today’s session. Polkadot (DOT) DOT was one of today’s biggest gainers, as it climbed by nearly 40% during Friday’s stretch, moving away from recent lows in the process. On Friday, DOT/USD surged to a peak of $11.73, which comes less than 24 hours after it hit a low of $7.04 This bottom was the lowest level DOT has reached since January 2021, and came as prices fell for eight of the last nine days. Today’s rally commenced as prices jumped from a now support level of $8.50, climbing by as much as 38% to its intraday high. Despite the rise, the 14-day RSI is still marginally oversold, and currently tracks at the 37.87 level, which is just below a ceiling of 40. Should we see this ceiling broken, then we will see the price resistance of $12.50 also give way. Shiba Inu (SHIB) While SOL, MATIC, and AVAX were all trading by as much as 20% higher on Friday, it was a meme coin which was today’s most notable secondary mover. SHIB was easily one of today’s biggest gainers, as it too rallied away from recent lows, following this week’s crypto sell-off. Following a low of $0.00001041 on Thursday, shiba inu rose to an intraday peak of $0.00001426 to end the week. Today’s move saw SHIB/USD move away from a recent eight-month low, as prices look to stabilize in the aftermath of recent declines. Looking at the chart, the rally came as the 14-day RSI moved past a resistance level of 33.60, and is now tracking above 35. The next notable ceiling is at the 40 mark, which may test bullish pressure, with some likely to use it as an opportunity to exit, while securing gains. Will today’s crypto rally extend into the weekend? Let us know your thoughts in the comments. View the full article

Following a few days of carnage, the two leading crypto assets built on top of the Terra blockchain have plummeted to significant lows. LUNA has dropped to $0.00000100 per coin and the once-stable coin terrausd (UST) hit a low of $0.044 per unit. After temporarily halting the Terra blockchain and restarting it, the team has once again halted block production at block height 7,607,789. The team restarted the chain again at 8:46 a.m. (ET) and disabled onchain swaps. Do Kwon’s ‘Amusing Morning’ of De-Pegging Jokes Becomes a Scary Reality Five days ago people started to get concerned about the Terra-based stablecoin terrausd (UST) as a slight deviation from the $1 parity took place. At that time, rumors and speculation concerning Terra’s stablecoin failing started to spread like wildfire. However, the Terraform Labs co-founder Do Kwon shrugged it off as an “amusing morning” and said that Terra detractors were now “all poor.” Kwon continued to say that UST’s de-pegging at the time was no big deal, and the Terra community believed it as well. So, is this $UST depeg in the room with us right now? No? I prescribe 24 hours of pegging over the next 7 days pic.twitter.com/GsBss7ACit — Do Kwon 🌕 (@stablekwon) May 8, 2022 Then the decentralized exchange (dex) Curve Finance noticed that there was significant terrausd (UST) selling taking place on the trading platform. “Yesterday, someone started selling UST en masse, so it started to depeg,” the Curve Twitter account said. “However, that was met with a great resistance, so the peg was restored. To get enough USD for that, a lot of ETH and stETH were sold also.” The Terra team seemed to take things more seriously at this point and the Luna Foundation Guard (LFG) explained that it was loaning $1.5 billion in bitcoin (BTC) and terrausd (UST) to professional market makers to defend the peg. UST De-Pegging Transforms Into a Nightmare for Terra, Lunatics, and the Project’s Investors The community was a lot more shaken at this point, and Anchor Protocol started to see significant withdrawals. Anchor Protocol was once the third-largest decentralized finance (defi) protocol with close to $18 billion locked just before the chaos started. From May 5, up until today, Anchor’s total value locked (TVL) slipped from $18 billion to today’s $410 million. Another defi protocol that had exposure to Terra’s native token LUNA was the liquid staking application Lido. On May 6, Lido had more than $18.6 billion and today, Lido now has around $8.95 billion locked. The once-stable token terrausd (UST) is currently changing hands for $0.094 per coin after reaching a high of $0.84 the day prior. UST sunk to a low of $0.044 per unit roughly 11 hours before writing this article. While many digital currency trading platforms had shut off Terra-based wallets, there are a few exchanges still allowing UST deposits. Presently, FTX is the most active UST exchange on Friday and the top trading pair with UST is tether (USDT). Tether represents 37.78% of all UST trades and is followed by BUSD (31.59%), USD (29.83%), EUR (0.46%), and USDC (0.29%). Terra’s native token LUNA has suffered even more so than UST, as it is trading well below a U.S. penny. LUNA’s 24-hour price range has been between $0.04333980 and $0.00000100 per unit. Presently, it is not easy to sell LUNA as most exchanges are not accepting deposits from the Terra chain. FTX today is LUNA’s most active exchange and BUSD is the coin’s most active trading pair with 73.64% of all LUNA swaps. BUSD/LUNA pairs are followed by USD (13.60%), USDT (10.32%), and BTC (0.89%). Binance Founder Says He’s Very Disappointed With How the UST/LUNA Incident Was Handled, Terra Blockchain Temporarily Shuts Down Again Following the suspension of LUNA and UST on Binance, the trading platform’s founder Changpeng Zhao, commonly known as CZ, said he was disappointed in the Terra team. “I am very disappointed with how this UST/LUNA incident was handled (or not handled) by the Terra team,” CZ tweeted on Friday. “We requested their team to restore the network, burn the extra minted LUNA, and recover the UST peg. So far, we have not gotten any positive response, or much response at all. This is in sharp contrast to Axie Infinity, where the team took accountability, had a plan, and were communicating with us proactively. And we helped.” Binance book is empty. Never seen that before pic.twitter.com/ez4ZZT9sDR — Hasu⚡️🤖 (@hasufl) May 10, 2022 On Thursday, the Terra team halted the blockchain and applied a patch to the codebase before restarting. After the team restarted the network, at 10:13 p.m. (ET) on Thursday evening, the team once again stopped block production. “The Terra blockchain has officially halted at block 7607789,” the team tweeted. “Terra Validators have halted the network to come up with a plan to reconstitute it.” Then at 8:46 a.m. (ET) on Friday morning, the team announced the chain was up and running again with some features disabled. “The Terra blockchain has resumed block production,” the Terra team explained. “Validators have decided to disable on-chain swaps, and IBC channels are now closed. Users are encouraged to bridge off-chain assets, such as bETH, to their native chains. Note: Wormhole bridge is currently unavailable.” After the tweet, the team said the Wormhole bridge was available at 9:09 a.m. (ET). Terra Community Contemplates Restoring a Snapshot of the Chain Prior to Attack, Every Terra Token Built on the Network Suffered Immense Losses Furthermore, discussions about restarting the project have started to emerge, and a Terra advocate has been talking about taking a snapshot of the chain before the attack. “The community is deciding on a new [Terra network], between restoring a snapshot prior to attack, removing TFL, fully collateralizing UST, and drafting [and] deliberating new mechanisms for LUNA. We must salvage the remaining value in the ecosystem [and] community and rebuild the right way,” the Terra advocate dubbed ‘Stablechen’ told his Twitter followers. In addition to LUNA and UST, tokens built on top of Terra have all suffered a great deal. The token anchor (ANC) has lost 93% against the USD this week, and orion money (ORION) lost 92.4% in seven days. Do Kwon: "95% are going to die [coins], but there's also entertainment in watching companies die too" 8 days ago. Ironic. pic.twitter.com/fEQMZIyd9a — Pedr🌐 (@EncryptedPedro) May 11, 2022 Moreover, Terra also had a number of tokens that represented specific fiat currencies like the Korean won (KRW). Terra’s terrakrw token has lost 84.4% in the last seven days, and the same can be said for Terra’s Australian dollar token. Terra even minted the IMF’s Special drawing rights (SDR) currency and synthetic stock tokens as well, using Mirror Finance. Every single token built on top of Terra’s blockchain has been shaken to the core and most are simply valueless. Presently, the web portal mirror.finance cannot be reached as the site is down, and there’s roughly $39.17 million locked into the application. In a note sent to Bitcoin.com News, Dan Ashmore, the crypto data analyst at Invezz.com, explains that the Terra blockchain fallout brought a lot of pain and grief. “This is a dark day for crypto,” Ashmore said in a statement. People have lost livelihoods, hundreds of platforms have gone belly up, and years of building vanished. College funds, life savings, leveraged gambles – there is a lot of pain out there. Regulators are watching, and this is undoubtedly a step back. Obviously, it is also a failure of the decentralised and uncollaterised stablecoin. A tremendous financial experiment has gone haywire and taken a big chunk of the market with it. Be safe.” What do you think about the issues Terra has seen during the last week? Let us know what you think about this subject in the comments section below. View the full article

As LUNA’s life support was all but switched off on Friday, BTC and ETH rallied, with prices climbing by as much as 10%. Today’s price surge saw bitcoin climb above $30,000, with ETH once again trading above its $2,000 level. Bitcoin Bitcoin rebounded and was trading higher in today’s session, as markets recovered a bit from sell-offs earlier in the week. Following a streak which saw it fall for seven of the last eight days, the world’s largest cryptocurrency was firmly in the green on Friday. BTC/USD rose to an intraday high of $30,921.27 earlier in today’s session, with prices up by as much as 10% at the height of the rally. Today’s surge comes after prices almost fell below $26,000 during yesterday’s stretch, which was the lowest level for BTC since late 2020. Looking at the chart, it seems as though a price floor has been found, with the $28,860 point acting as a support, and it was at this level where today’s rally commenced. As of writing, we are now trading at $30,727.01, which is 8.75% higher than yesterday’s low, with some bulls likely targeting a ceiling of $32,500 as an exit point. Ethereum ETH also moved away from multi-month lows on Friday, as prices were once again trading above the $2,000 level. Following a low of $1,874.51 during Thursday’s session, the world’s second-largest token was up over 10% today, hitting a high of $2,128.34. Similar to BTC, ethereum seemed to have found a floor of its own, using the $1,950 floor as a springboard to today’s rally. Despite this surge in price, ETH/USD is still oversold, and is tracking around the 33 level, which is also a long-term resistance point. Should this ceiling be broken, we might see bulls looking to move towards the $2,350 point, a level which some see as a ceiling in its own right. Overall, ETH is still down over 20% in the last seven days, with BTC trading 15% lower in that same period. Will these latest support points hold firm this weekend? Leave your thoughts in the comments below. View the full article

Hong Kong police have arrested a man accused of stealing $191,085 from a cryptocurrency trader in what turned out to be a bogus transaction. No funds were recovered at the time of the suspect’s arrest and investigations are ongoing to determine if the man had accomplices. No Funds Recovered Hong Kong police recently arrested a 24-year-old conman accused of vanishing with a crypto trader’s $191,085 (HK$1.5 million). The con artist now faces a possible ten-year jail term if convicted, a report has said. According to a South China Morning Post report that details the suspect’s plan, no funds were recovered when law enforcement agents finally apprehended the 24-year-old on May 10. The only items reported to be recovered were a mobile phone, necklaces, and the clothes the suspect wore at the time the crime was allegedly committed. Explaining how the suspect managed to vanish with the unnamed cryptocurrency trader’s funds, Hong Kong police inspector Tong Sin-tung of the Yau Tsim criminal investigation unit said: As instructed, the victim transferred HK$1.5 million in digital money into a designated e-wallet. The [buyer] claimed he needed to go to the staff room to get money and exited [the meeting room]. Further Arrests a Possibility Hong Kong police believe the suspect may have used a rear exit of a shop in Tsim Sha Tsu to get away. However, before vanishing, the suspect is reported to have left the cryptocurrency trader and her colleagues locked up inside the shop. After realizing they had been duped, the cryptocurrency trader called the police. Meanwhile, the report said detectives have yet to determine if the suspect had specifically set up the office to con the crypto trader. The police are also looking at the possibility that the suspect may have accomplices, Tong added. The inspector added the police are not ruling out the possibility of more arrests. What are your thoughts on this story? Tell us what you think in the comments section below. View the full article

Pablo Hernández de Cos, governor of the Bank of Spain and chair of the Basel Committee on Banking Supervision, explained that the cryptocurrency space and decentralized finance (defi) need to be regulated swiftly to avoid risks of financial instability. Hernandez de Cos also mentioned how this swift approach should bring the crypto financial system into the scope of regulation before it grows bigger. Governor of Bank of Spain Talks Crypto Regulation The governor of the Bank of Spain, Pablo Hernández de Cos, who is also part of the banking supervision Basel Committee, explained his take on how he thinks cryptocurrency regulation should be addressed. In a keynote offered at the 36th annual general meeting of the International Swaps and Derivatives Association, Hernández de Cos explained that there needs to be a swift move to regulate cryptocurrency and decentralized finance markets before they can grow to affect the financial stability of the economic system. On this issue, he stated: Despite this phenomenal growth, cryptoassets still represent only about 1% of total global financial assets, and banks’ direct exposures are relatively limited to date. Yet we know that such markets have the potential to scale up rapidly and pose risks to individual banks and overall financial stability. Furthermore, the governor recommended a “proactive and forward-looking regulatory and supervisory approach” to the subject, declaring that there can be a balance between welcoming these technologies and also mitigating their risks. Criticizing Crypto and Defi Hernández de Cos also took the opportunity to criticize the current state of the cryptocurrency market, citing the crypto fever meme currencies like dogecoin caused in the crypto crowd and the effect that Elon Musk’s thoughts can have on these markets. He remarked: How many $3 trillion asset classes exhibit wild swings in valuations based on seemingly odd events, such as tweets published on 20 April or Saturday Night Live skits? To him, these are clear signs that the market is not so decentralized as it aims to be, and that traits such as “robustness” or “stability” cannot be attributed to cryptocurrencies. This is not the first time that the Governor of the Bank of Spain has talked about the dangers of introducing traditional financial institutions to cryptocurrencies. Back in February, Hernandez de Cos also warned about this issue, stating that an increase in the exposure of private banks to crypto could introduce new equity and reputational risks. What do you think about the statements of Bank of Spain Governor Pablo Hernández de Cos? Tell us in the comments section below. View the full article

It normally takes a newly formed esports team 12-18 months to gel and experience success, however GAIMIN Gladiator’s Dota 2 team only formed in January 2022 and they are already rising in the Dota 2 rankings, qualifying in the Top 14 for the ESL One DOTA 2 Major this May in Stockholm, increasing their following and generating significant brand awareness for GAIMIN. Arseny Kuzminsky recently interviewed the founders of GAIMIN Gladiator’s about their Dota 2 team and its formation. In readiness for the DOTA 2 ESL One Major in Stockholm, we are proud to re-publish his article and interviews. In 2020 a breath of fresh air came to competitive Dota. Vikin.gg. These guys were able to fight back against the strongest teams for almost a year during the online era; brazenly, without fear or reproach, breaking well-known lineups in numerous tournaments. Upon closer acquaintance, it turned out that the players and the coach have unique chemistry — a mixture of strict discipline, fatherhood, brotherhood, and strong friendship. Then, Vikin.gg disbanded. Returning as Team Tickles with almost the same core. Melchior “Seleri” Hillenkamp, Miroslav “BOOM” Bičan and Daniel “ImmortalFaith” Moza from the previous roster joined forces with Marcus “Ace” Hoelgaard, Erik “tOfu” Engel and Anton “dyrachYO” Shkredov. New players, same playstyle. Fixed on team interaction, it’s impossible to single out the strongest player among the top five. And there’s no reason to, honestly. GAIMIN Gladiators work smoothly as a clock, where each gear matters, and as soon as one sags, four cover. GG is an example of how a team becomes strong through excellent player interaction and a balancing of power. I talked with GAIMIN Gladiators’ top management, to let them explain why Team Tickles was their choice. As well as a little bit more about their history, investments, future plans and why they are confident in the Dota 2 roster’s success. Canadian Roots GG’s foundation sounds like a typical Silicon Valley start-up story — four friends passionate about what they love decided to launch their own project. But before GAIMIN Gladiators, it was something else. “We were getting a little older, couldn’t find as much success in professional gaming, so we started OCG Esports around three years ago,” Alex Cuccovillo, GG’s Vice President, says. He, alongside Shawn Porter, CEO, and Nick Cuccovillo, President, were having this chat with me. Shawn and Alex met a long time ago playing Dota and have a professional background in various MOBAs. The latter had a hand in coaching and commentating during the early Dota 2 era. Nick has been in FPS games, working in talent acquisition. So they have adequate knowledge and network in each esports sphere, giving them an upper edge thanks to the the fact they already know the ins and outs of esports not just from a business point of view, but from a player’s point of view. Alex admits they had to leave competitive NA Dota 2 for other games because it lacked tournaments and money. OCG Esports started signing players, helping them out, and finding investors and partners to uphold financially. In January 2020, OCG Esports re-branded as GAIMIN Gladiators. GAIMIN Gladiators are based in Canada but heading more towards the global stage, acquiring EU, SEA teams, looking into Brazil, trying not to be constrained to North America. But apart from the Gladiators side with around five people on staff and a couple of contractors, there’s the parent company Gaimin.io, the corporate side of the umbrella of the whole company. “They take more of the corporate level and to be honest, we relay back some of the business stuff back to them and they either approve it or don’t. And so it works on both ends,” Nick tells me. “They confirm all the transactions or whatever decisions are made for the GG side”. Alex continues: “We’ve always had a plan. We always knew that at one point we’re gonna need to get investment.. No organization has really made it without some type of increase of investment. So we always had an action plan built. We created investment decks a long time ago, always updating them. We met some of the investors a couple of times through talks; and then a few months later, they figured out that esports is a great way for this application.” GAIMIN’s Mission is basically this; “PASSIVE AUTONOMIC MONETIZATION FOR GAMERS”. It’s a play-as-earn type of platform: get game rewards for free and do whatever you want with those rewards. “Although we have an element of Crypto and NFTs within our platform, we are a game engine by design.” Nick explains, with the platform’s core focus the “utilization of processing power, not the mining or purchasing of coins, nor NFTs.” GAIMIN’s software instead “simply uses Blockchain Elements for background working, and should be viewed as a game engine, with the ability to launch into Private Server Games, including Minecraft and GTAV, watch Content Creators via Streams and practice on your favorite games with skills training.” He’s also quick to clarify: “Under no circumstances would GAIMIN be requesting people to purchase a currency or to purchase NFTs.” Establishing the platform’s core use case is “actually as a processing power aggregator, to provide processing power for video rendering and AI Production.”; aspects of the technology’s use which are completely separate from most crypto-based ventures. Takeover and rebranding was a pretty long process. It took a year to close the deal from the first meeting with GAIMIN. We came up with a plan that benefited them as well in terms of getting user acquisition for the platform, and they really liked it.” “They invested in us more than the teams we had”, Alex says. “We had some teams that were definitely pretty good and some very high level players, but we didn’t have anyone who was on the level of what our current Dota 2 team is. We identified different teams at different cost points and what they can bring, what success, and what type of viewer metrics. We showcased what our plan would be over the next year and a half, what teams we’d bring on and why we’d bring them on, and what kind of potential they have. So there was honestly a lot of background work as well, which was another part of the reason why they really liked what we were doing”. Acquiring Team Tickles Shawn and Alex have a background in Dota and were looking at getting back into the Dota scene due to its very high viewership. During the middle of the season; back at the end of December-early January, they saw something special in Team Tickles. Alex continues: “We had a talk with a few teams. But we were most interested in them just because of not how good they were, but in terms of a new organization coming in the brand awareness that they bring playing against Team Liquid, OG and Secret. All these teams allow a new organization to get that brand awareness very quickly, rather than if you’re in a lot of other regions. So it was a colossal decision-maker for us as well. And we also saw that there was a lot of potential with the roster of young players. Though, signing a North American team gets you higher chances to participate in Majors and subsequently TIs, adding the fact that there were teams with high skills in need of sponsors. However we decided to look in other areas like CIS, Europe, and Southeast Asia. Our eye caught Team Tickles, and we pursued them.” GAIMIN Gladiators Dota 2 squad is their most significant asset and most prominent investment so far. “We had the budget to sign a Tier-1 team in any respective game. Alex continues: “Dota 2 actually is still doing really well in terms of viewership. And especially now that live events are back, that’s huge for us. But after doing the overall analysis, we just thought it was a no-brainer to get into Dota. Bootcamping, Stockholm and Plans GAIMIN Gladiators were staying at the Relog Media facility for the whole DPC league. Instead of players traveling around and trying to figure out visa issues, GG’s management decided to keep them in Belgrade for as long as possible. They have excellent connections with Relog, who were “so, so helpful” on this. Nick underlines the importance of bootcamping and its impact on players’ success: “Everyone thinks bootcamp is about 24 hours grind and practice. However, there are aspects of it in which the players never physically met. Thus, it was an ideal moment for them to meet, develop team bonds, and even establish a team culture. If we are to compete in the next Major or a large event like TI, that is a necessary aspect; it is critical for a team to have at least that initial engagement. We also got them a psychologist once a week to go over stuff with them. It’s important for mental performance and mental fortitude, so they won’t get exhausted or drained. “We were a top-two team in the past and the regional champions,” Alex says. “And there were four slots for the EU. OG was a bit of a surprise, but they have a very strong young roster. So they surprised us a bit, but I think we always knew our team could make it to the Major. But ultimately, we had faith, immortal faith, you know.” Follow the Gladiators in Stockholm starting May 12 and see what they show us next. https://www.esl-one.com/dpc/ This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

The European Commission disagrees with some provisions in the crypto regulatory proposal approved recently by the European Parliament. The executive arm in Brussels is unhappy with certain anti-money laundering measures, according to a media report quoting unofficial correspondence. European Commission Working on Compromise Proposal for EU Crypto Rules Europe’s upcoming Markets in Crypto Assets (MiCA) legislation is facing challenges in the trilogue stage, less than two months after the European Parliament voted on the draft. Since then, discussions have been underway with the other two parties in the European Union’s legislative process — the Council of the EU and the European Commission (EC). An unofficial letter seen by the German crypto news portal BTC Echo has indicated that the Commission does not agree with some points in the texts approved by the lawmakers and is preparing amendments. The executive body expresses concerns specifically about certain measures aimed at combating money laundering and the financing of terrorism. With these provisions, found in Article 4 of MiCA, the Parliament wants to prevent the EU licensing of crypto asset service providers (CASPs) that are based in non-compliant jurisdictions or “high-risk areas,” or registered in countries that do not levy corporate tax. There is no similar ban in other legal acts, the Commission points out. What’s more, such a prohibition would violate the rules of the World Trade Organization. The EC elaborates that it is unclear why such a measure should apply to crypto providers in particular. These platforms are subject to other EU directives on combating money laundering and terrorist financing, which the Commission insists offer strong enough protection in the case of operators originating from third countries in high-risk areas. The new regulation would only increase the burden on EU authorities. The European Parliament also proposes the establishment of a register for non-compliant CASPs, maintained by the European Securities and Markets Authority (ESMA). However, the Commission’s letter reveals it has “serious doubts” about the feasibility of this proposal. It also believes that if there is a need to do that at all, it should be part of the general anti-money laundering regulations that affect all financial market participants. The European Commission also criticizes the adopted criteria for non-compliance, saying they are unclear. It’s demanding improvements from European Parliament in this regard and intends to put forward a compromise proposal before the next round of the trilogue talks scheduled for Wednesday, May 18. Do you expect European legislators to take into account the concerns expressed by the EU Commission regarding MiCA? Tell us in the comments section below. View the full article

The African startup, Mara, recently said it has raised about $23 million in funding from organizations ranging from Coinbase Ventures to individual angel investors like Amit Bhatia and Hamad Alhoimaizi. Mara has also partnered with the Central African Republic (CAR) and will act as an adviser to the country’s president. Enhancing Africa’s Competitiveness An Africa-focused crypto startup, Mara, has raised $23 million in funding for building a so-called pan-African cryptocurrency exchange, a report has said. Participating in the startup’s capital raise were Coinbase Ventures, Alameda Research, Distributed Global, TQ Ventures, DIGITAL, Nexo, Huobi Ventures, Day One Ventures, and Infinite Capital. According to a report by Venture Beat, the funding round also attracted angel investors like Amit Bhatia and Hamad Alhoimaizi. In addition, about 100 crypto investors are said to have participated in the round. In his comments following Mara’s successful fundraise, the startup’s CEO Chi Nnandi is quoted in the report suggesting that the upcoming platform would enhance Africa’s competitiveness. He explained: A decentralized alternative (which will include but not be limited to finance, art, ownership, infrastructure, and business as a whole) will give Sub-Saharan Africans an alternative to these tired systems. Through this digital financial system — through this freedom — the region will find itself in a much stronger competitive position before other parts of the world. Mara to Advise CAR’s President As per the Venture Beat report, Mara will initially launch in Kenya, Nigeria, and surrounding regions. Meanwhile, the report revealed that Mara has entered into a partnership with the Central African Republic (CAR). As part of this partnership arrangement, Mara will become an official crypto partner of the country. Mara will also act as the CAR president’s adviser on such issues as crypto strategy and planning. As previously reported by Bitcoin.com News, the CAR became the first African country to adopt bitcoin as its reference currency after its legislative body voted in favor of a crypto bill in late April. Nevertheless, many organizations, including the International Monetary Fund (IMF), have questioned the CAR’s decision to adopt bitcoin. Others have pointed to the country’s lagging telecommunications infrastructure as evidence the African nation may not be ready to adopt the crypto. What are your thoughts on this story? Tell us what you think in the comments section below. View the full article

One of the United Arab Emirates (UAE)’s leading airlines, Emirates Airline, said it has plans to add “bitcoin as a payment service.” The airline is planning to recruit personnel to create applications that monitor client needs. Two Different Applications and Approaches The United Arab Emirates (UAE)’s leading airline, Emirates Airline, will soon embrace “bitcoin as a payment service,” the company’s chief operating officer (COO) Adel Ahmed Al-Redha has said. In addition, the airline will add non-fungible token (NFT) collectibles on its webpage. Reports of the airline’s plan to embrace bitcoin come just a few weeks after it revealed its NFT and metaverse plans. As reported by Bitcoin.com News, the company’s goal with the metaverse launch is to ensure the airline is “aligned with the UAE’s vision for the digital economy.” In remarks published in Arab News, Al Redha hinted that his company may have to recruit employees to assist it in creating applications which monitor customer needs. He also spoke of the differences between NFTs and the metaverse. He explained: “NFTs and metaverse are two different applications and approaches. With the metaverse, you will be able to transform your whole processes — whether it is in operation, training, sales on the website, or complete experience — into a metaverse type application, but more importantly making it interactive.” The report did not state when the airline expects to launch its bitcoin payment service. What are your thoughts on this story? Tell us what you think in the comments section below. View the full article

Ruja Ignatova, mastermind of the notorious pyramid Onecoin, is now one of Europe’s most wanted fugitives. Also known as the “Crypto Queen,” she disappeared almost five years ago, after the Ponzi scheme she led collected billions of dollars from defrauded investors around the world. Europol Seeks Information on Onecoin Inventor’s Whereabouts The European Union Agency for Law Enforcement Cooperation, Europol, is now offering a reward of up to €5,000 ($5,200) for any information that could lead to the arrest of Ruja Ignatova, suspected of masterminding one of the largest scams in crypto history, Onecoin. The announcement describes Ignatova, a doctor of law, as the “driving force and intellectual inventor of the alleged cryptocurrency Onecoin.” She is suspected of inducing investors all over the world to put money into “this actually worthless ‘currency’,” Europol notes. The agency also points out that the fraud-related losses to the Ponzi scheme that have been established so far are in the upper double-digit million range, while also acknowledging that the total damage caused on a global scale is likely to amount to several billion U.S. dollars. Europol explains: The wanted person’s whereabouts have been unknown since 25 October 2017, and she has not appeared in public since this date, neither in connection with OneCoin nor otherwise. Ignatova has been accused of “fraud, including that affecting the financial interests of the European Communities within the meaning of the Convention of 26 July 1995.” The promised reward is intended only for private individuals that provide crucial information about her location and not for officials prosecuting criminal offenses. The Crypto Queen has been added to Europe’s Most Wanted list on the initiative of the German law enforcement authorities. According to an announcement published by the police in the western German province of North Rhine-Westphalia, the €5,000 reward has been offered by the public prosecutor’s office in Bielefeld. Onecoin was launched by Bulgarian-born German national Ruja Ignatova in 2014. The project’s cryptocurrency was advertised as the “Bitcoin killer” and promoted through Bulgaria-based offshore entities Onecoin Ltd., registered in Dubai, and the Belize-incorporated Onelife Network Ltd. Both were founded by Ignatova and her partner Sebastian Greenwood, who is now jailed in the U.S. Ruja’s brother, Konstantin Ignatov, who is also a co-founder of Onecoin, was arrested in Los Angeles in 2019 and charged with committing financial crimes. He has since started cooperating with investigators working on the case, testified about Onecoin’s links to organized crime, pleaded guilty, and sought witness protection. In November, a lawyer representing investors urged Bulgaria to act on the case, claiming the scam was still operating from the country. In a petition with the Bulgarian ombudsman, Jonathan Levy accused officials of failing to provide justice to the victims. He also alleged that the Ignatovs and Onecoin entities were still in control of property, crypto assets, and fiat funds exceeding €12.5 billion (over $13 billion). Do you think European law enforcement authorities will manage to locate Onecoin’s founder Ruja Ignatova? Tell us in the comments section below. View the full article

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, believes bitcoin could crash to $17K. However, he also believes the cryptocurrency “will win” because America is led by the three stooges. He has been recommending bitcoin to investors alongside gold and silver. Kiyosaki Thinks Bitcoin Could Test the Bottom at $17K The author of Rich Dad Poor Dad, Robert Kiyosaki, has shared his latest price expectation and future outlook for bitcoin. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Kiyosaki tweeted Thursday that bitcoin is crashing and he is waiting for the price of the cryptocurrency to fall to the $20K level. He explained that he will then wait for BTC to test the bottom, which might be at $17K, before he starts buying. “Crashes are the best times to get rich,” he advised. In January, the Rich Dad Poor Dad author said he will buy more bitcoin “if and when BTC tests $20K.” Kiyosaki’s tweet came at a time when the crypto market has lost billions as the terrausd (UST) fiasco unfolded. At the time of writing, bitcoin is trading at $29,289, down 2% over the past 24 hours, 20% over the past seven days, and 27% over the past month. Kiyosaki Also Believes ‘Bitcoin Will Win’ Despite the falling BTC price, Kiyosaki believes that “Bitcoin will win.” He tweeted Wednesday explaining why. “Bitcoin will win because America is led by the 3 stooges,” he wrote, adding that the first is President Joe Biden. He said the second stooge is Treasury Secretary Janet Yellen, and the third is Federal Reserve Chairman Jerome Powell. The famous author affirmed: “I trust Bitcoin not the 3 Stooges.” This was also not the first time Kiyosaki has expressed his distrust towards the Biden administration, Wall Street, and the Fed. He has also been recommending that investors buy bitcoin for quite some time. Last month, the famous author said that the biggest bubble burst is coming. He called the government, Wall Street, and the Federal Reserve “thieves.” He also said that hyperinflation and depression are here and recommended investors buy gold, silver, and bitcoin. In March, Kiyosaki said the U.S. dollar was about to implode, blaming President Biden for causing inflation. He recommended gold, silver, bitcoin (BTC), ethereum (ETH), and solana (SOL) as investments at the time. However, Kiyosaki’s outlook for crypto is not all smooth sailing. The renowned author also warned that eventually, the government will seize all cryptocurrencies and fold them into a government crypto. Nonetheless, he subsequently said that the Russia-Ukraine war is “giving rise to crypto as a safer haven than government fake fiat money.” Do you agree with Robert Kiyosaki about bitcoin? Let us know in the comments section below. View the full article

Warren Buffett-backed Nubank, one of the world’s largest digital banking platforms, has launched cryptocurrency trading. Starting with bitcoin and ether, the bank explained that its 54 million customers can “buy, hold and sell cryptocurrency all from the same app, with no need to open new accounts or transfer money.” Nubank Now Offers In-App Crypto Trading Nubank, one of the world’s largest digital banking platforms, announced Wednesday that it is entering the crypto trading market. The bank serves around 54 million customers across Brazil, Mexico, and Colombia. The announcement details: The company launched today in Brazil an exclusive in-app crypto trading experience, offering initially bitcoin and ethereum trading starting at BRL $1.00 (~U.S. $0.20). The new service aims to enable “customers to buy, hold and sell cryptocurrency all from the same [Nubank] app, with no need to open new accounts or transfer money,” the bank explained. Prior to this launch, Nubank clients could gain exposure to cryptocurrencies through exchange-traded funds (ETFs) and funds offered by Nuinvest, formerly known as Easynvest. The bank noted that the new crypto trading service “will be gradually available for customers in Brazil starting in May 2022, reaching the entire customer base by the end of July 2022.” The announcement adds that “Nubank will do frequent curation” in order to offer more cryptocurrencies to clients. Furthermore, the bank will “provide educational resources to customers interested in digital currency transactions, to support informed investment decisions.” Nubank’s Partnership With Paxos Nubank’s crypto trading is operated in partnership with Paxos, a regulated blockchain infrastructure provider that will act as a custody provider and broker, according to the announcement. Charles Cascarilla, co-founder and CEO of Paxos, commented: “Nubank’s move to enter the crypto trading space represents a strategic move not only for the company but for an acceleration of the cryptocurrency adoption in the region.” David Vélez, founder and CEO of Nubank, opined: There is no doubt that crypto is a growing trend in Latin America, one that we have been following closely and believe will have a transformational impact on the region. Nu Holdings Adds Bitcoin to Balance Sheet In addition to launching cryptocurrency trading, Nu Holdings, Nubank’s parent company, announced that it has allocated “~1% of its balance sheet cash to bitcoin.” The company stated: The transaction reinforces the company’s conviction in the current and future potential of bitcoin in the region’s financial services landscape. Warren Buffett’s Berkshire Hathaway is a current shareholder of Nu Holdings. According to its latest 13F filing with the U.S. Securities and Exchange Commission (SEC), Berkshire’s holdings as of Dec. 31, 2021, included Nu Holdings shares worth more than $1 billion. Berkshire Hathaway also invested $500 million in Nu Holdings in June last year, months before the company went public. Buffett, however, recently said that he will not invest in cryptocurrencies because they do not produce anything. Meanwhile, Berkshire Vice Chairman Charlie Munger believes that crypto is “stupid and evil.” What do you think about Warren Buffett-backed Nubank offering crypto trading and holding bitcoin on its balance sheet? Let us know in the comments section below. View the full article

Play the brand new XXXtreme version of one of the most popular live casino games at Bitcoin.com Games; Lightning Roulette by Evolution! Now in Exclusive Early Access with a $ 2,000 Tournament Live casino games are a prime example of the new generation of casino games you can expect from Bitcoin.com Games. The live casino format is the closest anyone could experience going to a brick-and-mortar casino with real dealers behind the screen. Not only are the dealers well-trained in the craft of conducting live casino games, but their sophisticated personas can also imbue the player’s gaming experience with a touch of luxury found only in the most privileged places in the world. Bitcoin.com Games has been home to a host of many such live casino games that can be played with cryptocurrencies such as Bitcoin or Bitcoin Cash. A prime example of a massively popular live casino game hosted on our crypto casino is the award-winning Lightning Roulette from the software provider Evolution. Now, carrying forward the tradition of thunderous visuals and electrifying gaming experience, the provider is launching an XXXtreme version of the ever-popular game. Our crypto casino Bitcoin.com Games is bringing you exclusive early access to the new game – XXXtreme Lightning Roulette, and an opportunity to win cash prizes worth $2,000. This latest addition to the live casino library is touted to be one of the most exhilarating games from the stables of Evolution. Land Massive Money Multipliers of up to 2,000x Your Bet Amount XXXtreme Lightning Roulette combines live casino format with a high-payout RNG element to offer a wildly entertaining experience. What makes this new launch so XXXtreme is that you can score between 50x and 500x multipliers with up to ten Lightning and Chain Lightning numbers in total per game round – or score up to 2,000x your bet amount with the exciting Double Strikes feature! XXXtreme Lightning Roulette is an electrifying new live casino game that features all the elements that made the original so much fun and pushes it to the XXXtreme. Play this new launch and participate in the early access tournament to win cash prizes of up to $1,000, only on Bitcoin.com Games. What do you think about the XXXtreme Lightning Roulette casino game? Let us know what you think about it in the comments section below. View the full article

According to the Electric Coin Company, the team behind the cryptocurrency network Zcash, the protocol is soon to implement the largest upgrade in history. The Zcash development team has released the 5.0.0 codebase which supports the NU5 upgrade that will occur on or around May 31, at block height 1,687,104. Electric Coin Company and Zcash Prepare for Network Upgrade The second-largest privacy-centric crypto network, in terms of market capitalization, Zcash, will see a significant upgrade take place on or around May 31. Electric Coin Company and Zcash developers released the binaries for the Zcash 5.0.0 codebase, and the binaries are now available via the Zcash download web portal. Developers are asking all Zcash participants who run the codebase software to upgrade to the latest release or any subsequent release. According to the Electric Coin Company’s (ECC) most recent blog post, NU5 plans to implement the Orchard shielded payment protocol and the Halo proving system. The firm says that it will “remove reliance on complex setup ceremonies.” “The efficiencies built into this upgrade make possible — for the first time ever — private, trustless digital cash payments on mobile phones,” ECC’s blog post notes. “Halo also paves the way for increased interoperability by providing a system that could unlock private cross-chain proofs at scale.” Zcash founder Zooko Wilcox-O’Hearn further tweeted about the release on Wednesday. It’s here — Zcashd 5.0.0 — If the Zcash users choose to run zcashd 5.0.0, then at the end of this month Zcash Network Upgrade 5 will activate on mainnet,” Zooko said. “This is a historic step forward for human society. It is a historic step forward for two reasons: 1. It puts the soundest money in the world—Zcash—on a foundation of long-term, scalable, and extensible cryptography. 2. It marks the maturation of zero-knowledge proofs into a general-purpose technology.” The Zcash founder continued: Network Upgrade 5 moves Zcash onto the foundation of a completely new Zero-Knowledge Proof system: Zcash Halo, the first zero-knowledge proof system that is both (a) efficient and recursive, and (b) doesn’t rely on Ceremonies (“trusted setups”). ECC Executive: ‘Complex Trusted Setup Ceremonies Are Now a Thing of the Past’ According to ECC, the upgrade has been under “extensive review at both the specification and implementation levels” and the team used third-party audits from NCC and QEDIT as well. Furthermore, the team leveraged the cryptography researcher at the Ethereum Foundation Mary Maller to conduct a review. Maller checked the “theoretical reasoning behind the zero-knowledge and soundness of the protocol” in the Halo2 security review. Josh Swihart, the senior vice president of growth, product strategy, and regulatory affairs at ECC, said the upgrade will be the protocol’s largest. “NU5 is the largest network upgrade in Zcash history. By utilizing the Halo proving system and Orchard shielded payment protocol, complex trusted setup ceremonies are now a thing of the past, and users can make private, trustless digital cash payments on mobile phones,” Swihart said in a note sent to Bitcoin.com News. “The upgrade marks a significant milestone, not only for Zcash, for the field of zero-knowledge cryptography.” What do you think about the upcoming Zcash upgrade? Let us know what you think about this subject in the comments section below. View the full article

Tanzania is getting closer to launching a central bank digital currency (CBDC) which gives the country’s residents a “safe alternative,” the central bank governor has said. However, no date for the digital currency launch has been given. Growing Interest in Cryptocurrencies According to Florens Luoga, the governor of Tanzania’s central bank, his country is inching closer to the launch of a central bank digital currency (CBDC). When launched, the CBDC is expected to counter the growing interest in privately issued cryptocurrencies, a report has said. In remarks made during an interview, Louga suggested the Bank of Tanzania (BOT) is also preparing for the launch of a CBDC because it cannot ignore the technological advances in money. The governor claimed that BOT’s digital currency will provide users with an alternative that is safer than cryptocurrencies. He said: It’s important for us to provide a central bank digital currency as a safe alternative because many people are being affected by cryptocurrency speculators. A Global Phenomenon The governor added that the central bank has since sent officials to countries whose respective CBDCs have progressed. While many central banks have touted CBDCs as an alternative to cryptocurrencies, few have actually piloted their respective centralized assets. In Africa, only the Nigerian central bank has so far launched a CBDC, while a few others are still at the exploratory or research stages. Meanwhile, when asked about the launch date of Tanzania’s digital currency, Luoga reportedly declined to state when this is likely to happen. He did, however, emphasize that the BOT cannot ignore this phenomenon. “Almost worldwide, central bank governors are in training right now and holding discussions on how to bring it about,” Luoga argued. What are your thoughts on this story? Tell us what you think in the comments section below. View the full article

Russia’s Bitriver, one of the largest operators of crypto mining data centers, may take legal action against the U.S. over the decision to place it under sanctions. The company insists it does not help the Russian government to circumvent international restrictions. Bitriver Rejects US Accusations as Unfounded, Sees No Legal Ground for Sanctions Leading Russian mining enterprise Bitriver is considering filing a lawsuit against the U.S. Treasury Department, which recently designated the Swiss-registered company and a number of affiliated entities in a new round of sanctions against Russian businesses and individuals. Russia’s coin minting potential was specifically targeted with the new penalties imposed over the war in Ukraine. In comments to the RIA Novosti news agency, Bitriver stated that the actions of the department are damaging its reputation and international business since the accusations are unfounded. The company is also convinced there are no legal grounds for the restrictions and intends to demand that American authorities remove it from the blacklist. It also emphasized: Bitriver is not a government agency, but a 100% private company that in no way helps the Russian Federation to circumvent sanctions. The Russian group also accuses the Treasury of unfair competition practices and lobbying for the U.S. mining industry, thus violating the rules of the World Trade Organization. Bitriver CEO Igor Runets describes the department’s move as “an attempt to change the global balance of power in favor of U.S. companies and remove the largest Russian player from the market.” Bitriver claims that despite the restrictions, all its production facilities and offices in the Russian Federation are operating normally. The company also continues to provide services to its international clients who, it says, have confirmed their intentions to further cooperate with the Russian bitcoin mining operator. Western allies have introduced several sanctions packages against Russia that have limited its access to global finances and foreign reserves. Concerns have been raised that the Russian government and citizens may use cryptocurrencies to evade the restrictions. Officials in Moscow have highlighted Russia’s competitive advantages for mining in terms of cheap energy resources and cool climate. A draft law tailored to regulate the sector was submitted to the parliament in April. Do you think Bitriver can successfully challenge U.S. sanctions against it? Share your thoughts on the subject in the comments section below. View the full article

Masterminds of one of South Africa’s biggest bitcoin Ponzi schemes, Mirror Trading International (MTI), have been asked by the scheme’s liquidators to pay back over $291 million to cover the scam operation’s debts. Liquidators’ Influence Liquidators of the South African bitcoin Ponzi scheme, Mirror Trading International (MTI), have issued summonses against eighteen individuals believed to be the masterminds behind the now-defunct scheme. The liquidators want the named individuals to pay back more than $291 million (4,666,077,528 rand) to cover the scheme’s debts, a report has said. The move to summon the alleged MTI masterminds comes just a few months after liquidators unsuccessfully tried to have the online bitcoin trading platform declared an unlawful business by a South African court. As per a report by Bitcoin.com News, the move was frustrated by a slew of late court filings by lawyers representing MTI investors. Investors were reportedly worried that the liquidators’ motion would give the latter excessive powers which may jeopardize their chances of recovering their funds. Following this intervention by investors, a South African judge subsequently postponed the hearing to a later date. Masterminds Aware of MTI’s Insolvency Meanwhile, a report by Mybroadband suggests that the liquidators have since asked the Pretoria High Court to hold MTI masterminds liable as per the dictates of the Companies Act. In their submission, the liquidators reportedly argued that summonsed individuals including the co-owners of MTI, Johann Steynberg and Clynton Marks, were aware the bitcoin trading platform was insolvent. “[The defendants] were at all relevant times aware of the fact that MTI was trading in insolvent circumstances as well as of the actions perpetrated and constituting fraud upon MTI’s creditors,” the liquidators reportedly said in their summons. Consequently, the liquidators assert that all the summonsed individuals must be held to account for their part in perpetuating MTI’s fraudulent business. Named the biggest crypto scam in 2020, MTI collapsed soon after its CEO Johann Steynberg disappeared with investor funds in late 2020. He was later arrested by Brazilian law enforcement in late 2021. Following the online trading platform’s collapse, court-appointed liquidators have waged an ongoing battle against a group of investors opposed to the liquidation process. The group, which insists MTI is still solvent and thus should not be liquidated, wants the court to stop this process. What are your thoughts on this story? You can share your views in the comments section below. View the full article

The Nasdaq-listed cryptocurrency exchange Coinbase has revealed that it halted operation in India a few days after launch due to “informal pressure” from the country’s central bank, the Reserve Bank of India (RBI), says CEO Brian Armstrong. Coinbase Shares Experience in India Coinbase Global provided an update on its Indian operation during the company’s earnings call Tuesday, particularly why it exited the Indian crypto market a few days after launch. Anil Gupta, vice president of Investors Relations at Coinbase, asked CEO Brian Armstrong: “Some shareholders are curious about the recent developments in India. Can you explain the halting of UPI [Unified Payments Interface] transfers there? And what impact will that have on your expansion plans in the market?” Coinbase launched in India on April 7. Armstrong went to India for the launch. The company said at the time that users could use the UPI system to buy cryptocurrencies on the platform. However, the company disabled the UPI option a few days later. “There’s a lot of interest in crypto amongst the people there in India. So we had an integration with what’s called UPI. And this was a great example of just our international strategy,” Armstrong said during the earnings call. He elaborated: A few days after launching, we ended up disabling UPI because of some informal pressure from the Reserve Bank of India, which is kind of the Treasury equivalent there. “And India is a unique market, in the sense that the supreme court has ruled that they can’t ban crypto, but there are elements in the government there, including at Reserve Bank of India, who don’t seem to be as positive on it,” the Coinbase boss opined. Armstrong noted that what the RBI is doing has been described as a “shadow ban” by the media. “Basically, they’re applying soft pressure behind the scenes to try to disable some of these payments, which might be going through UPI,” he detailed. The Coinbase executive further said: “I guess we have a concern that they may be actually in violation of the supreme court ruling, which would be interesting to find out if it were to go there.” He continued: “But I think our preference is really just to work with them and focus on relaunching. I think there’s a number of paths that we have to relaunch with other payment methods there. And that’s the default path going forward. Armstrong concluded: My hope is that we will be live back in India in relatively short order, along with a number of other countries, where we’re pursuing international expansion similarly. What do you think about Coinbase’s experience in India? Let us know in the comments section below. View the full article

The Shanghai High People’s Court has declared bitcoin to be a virtual asset protected by Chinese law. The court notes that the cryptocurrency has economic value. Bitcoin Is Property Protected by Law in China The Shanghai High People’s Court has declared that bitcoin qualifies as a virtual asset protected by Chinese law despite the ban on cryptocurrency trading in China, Sina reported Friday. The court’s official Wechat channel posted a notice last week stating: In the actual trial practice, the People’s Court has formed a unified opinion on the legal position of bitcoin, and identified it as a virtual property. The court further explained that bitcoin “has a certain economic value and conforms to the property’s attributes, the legal rules of property rights are applied for protection.” The statement marks the first time that a higher court in China has issued a ruling concerning a bitcoin case. The Bitcoin Case The court’s statement refers to a case involving Mr. Cheng Mou who filed a lawsuit with the Shanghai Baoshan District People’s Court on Oct. 10, 2020, demanding that Mr. Shi Moumou return his one bitcoin. After the trial, the court ruled on Feb. 23, 2021, that Shi must repay Cheng his BTC within 10 days of the judgment. However, Shi refused to make the payment, prompting Cheng to seek further redress from the local court system. The Baoshan court subsequently arranged for intermediation between the two parties. Liu Yang, a lawyer from Beijing’s Deheng Law Firm, told local media that the high court’s statement will have strong significance as a reference ruling for civil disputes involving bitcoin in the Shanghai area. What do you think about the high court declaring bitcoin a virtual asset protected by law despite a ban on crypto in China? Let us know in the comments section below. View the full article

Economist Nouriel Roubini, a crypto skeptic known as “Dr. Doom,” is developing a tokenized asset intended to be a more resilient U.S. dollar. “Our goal is to create a global store of value … This is something akin to a substitute for Treasuries, or a digital asset that has payment features in it.” Nouriel Roubini’s Tokenized USD Alternative Economist Nouriel Roubini revealed this week that he is developing a suite of financial products, including a tokenized asset, called the United Sovereign Governance Gold Optimized Dollar (USG), to act as a more resilient dollar against high inflation, climate change, and civil unrest, Bloomberg reported. Roubini is a longtime crypto skeptic who called bitcoin “the mother of all bubbles.” He teaches at New York University’s Stern School of Business and has his own economic consulting firm called Roubini Macro Associates. Famed for predicting the housing bubble crash of 2007-2008, his gloomy predictions have earned him the nickname “Dr. Doom” in the media. Dr. Doom is working with a Dubai-based real estate investment and management firm, Atlas Capital Team, to create the new products. He joined the company two years ago and is currently its chief economist. Roubini explained that the dollar could be in jeopardy as the U.S. “prints too much money and adversaries start de-dollarizing.” He detailed: We recognize that America’s dollar reserve currency could be at risk and are working to create a new instrument that’s effectively a more resilient dollar. His plan came as a surprise to the crypto community since he has been one of Bitcoin’s most vocal critics for many years. Roubini also elaborated on his plan on Twitter Monday. “The digital rail will have super strict AML/KYC features so it will be a digital asset-backed security with serious ESG [Environmental, Social, and Governance] features — ie sustainable real estate. So the digital option is only one of the three and it is an end point not a starting point,” he tweeted. The economist further detailed: First, USG starts as a hedge against inflation, debasement of fiat currencies, financial crisis, political and geopolitical risk and environmental risks. That is the core idea not its digital rail. He added: “Second, the implementation of USG is first an index on which you can write TRS [total return swap], then a fund or ETF [exchange-traded fund]. And then finally and eventually as a security token backed not by vaporware like most junk in crypto but rather real/financial assets so you know at all times its market value/NAV.” The new dollar would be backed by “a mix of short-term U.S. Treasuries, gold, and U.S. property (in the form of real estate investment trusts, or REITs),” the economist noted, adding that they are likely to be less affected by climate change. Atlas co-founder and CEO Reza Bundy opined: Our goal is to create a global store of value … This is something akin to a substitute for Treasuries, or a digital asset that has payment features in it. Roubini expects his new product to appeal to large investors who are looking for an alternative to the usual mix of stocks and bonds. He noted that sovereign wealth funds, pension funds, and even central banks that hold large reserves of dollar-denominated assets may be interested. What do you think about Roubini’s tokenized dollar alternative project? Let us know in the comments section below. View the full article