roadrunner

DOGE rallied on Monday, as traders reacted to the news that Elon Musk was possibly nearing a takeover of Twitter. While DOGE surged, AXS and WAVES were also big movers, however they were mainly in the red, as recent losses extended. Dogecoin (DOGE) DOGE was trading higher to start the week, as markets reacted to the news that Elon Musk’s bid to acquire Twitter was being considered by the board. Musk previously stated that he could see DOGE used as a payment or tipping method on the platform, should his attempts to acquire the social media company succeed. Following the news, DOGE/USD rose to a peak of $0.1412 in today’s session, which is over 5% higher than Sunday’s low of $0.1239. Monday’s surge in price comes after a false breakout of the $0.1310 support level, which then sent prices to their lowest level since March 22. Today’s rally, which appears as if it could be a bullish engulfing pattern, put an end to a six day losing streak for DOGE. In addition to this, momentum seems to also be climbing, with the 14-day RSI rising above the 50 level for the first time in over a week. Should this trend continue, the next obvious target will be the long-term resistance point of $0.1500. WAVES WAVES, on the other hand, was predominantly in the red today, as it extended a recent losing streak that has sent prices down to multi-week lows. Since peaking above $64 to start the month, WAVES has mainly moved lower in April, and today fell to a bottom of $15.98. Today’s intraday low in WAVES/USD follows on from Sunday’s high of $18.09, and comes as price has fallen for six days in a row. This latest drop seems to have taken prices to a support level of $16.50, which is the lowest floor for WAVES since early March. In addition to this, today’s 8% drop has also led to a decline in relative strength, and the 14-day RSI is tracking at multi-week lows. As of writing, WAVES is deep in oversold territory, which could be a positive for those waiting for a rebound, as bulls could see this as an opportune time to buy low. Might we see a rebound in WAVES this week? Let us know your thoughts in the comments. View the full article

According to multiple reports stemming from people familiar with the matter, Twitter has been engaged in negotiations with Elon Musk over his proposal to purchase the social media platform for $46.5 billion. Sources detail that a number of Twitter shareholders allegedly reached out to the company’s board after Musk detailed his financing plans last week. Reports Say Elon Musk Could Acquire Twitter by the End of the Day Three days ago, Bitcoin.com News reported on Elon Musk’s plans to improve Twitter which include removing spam bots and making sure free speech is allowed. Musk further detailed that he wants to make the account verification process easier. However, before Musk outlined his improvements and plans to secure the $46.5 billion needed for the acquisition, Twitter’s board implemented a “poison pill” plan to avoid the acquisition. Essentially, Twitter executed a shareholder rights plan in order to dilute the appeal of a takeover. The measure attempts to make it harder for Musk to acquire the company unless he increases his shareholder stake. Despite the poison pill plan and the backlash from a number of people against Musk taking over, three reports note that Twitter’s management is contemplating Musk’s offer now. Bloomberg, the Wall Street Journal (WSJ), and the New York Times (NYT) have all reported that people familiar with the matter say Twitter’s board is now engaging in negotiations with the Tesla executive. According to the reports, Twitter’s board is interested in any ongoing regulatory investigations tethered to Musk and his companies and whether or not any investigations could impede the deal. Sources Say Musk ‘Remains Fluid and Fast-Moving,’ Analyst Believes Musk Will Takeover Unless a Second Bidder Appears Furthermore, Twitter’s board is interested in the opinions of U.S. regulators and bureaucrats that may object to Musk’s takeover. The New York Times reports that the agreement is not final and there’s definitely a chance it won’t work. However, people with knowledge of the situation said “Mr. Musk remains fluid and fast-moving.” Musk is reportedly working with Morgan Stanley in order to acquire debt financing and he allegedly has $21 billion in cash reserves to leverage as well. On Sunday, an analyst at Wedbush Securities, Dan Ives, said he believes Musk’s goal to own Twitter may be successful. In an investor’s note published this weekend, Ives said: [This is] the beginning of the end for Twitter as a public company with Musk likely now on a path to acquire the company unless a second bidder comes into the mix. Last week, Musk also talked about Twitter integrating dogecoin (DOGE) and that it could possibly be a payment option for Twitter’s Blue service. While most crypto assets have been in the red on Monday recording declines in fiat value, DOGE has jumped 6.24% during the last 24 hours since the news about Twitter engaging with Musk in negotiations went public. What do you think about Twitter engaging with Elon Musk in regard to his offer to purchase Twitter for $46.5 billion? What do you think about Elon Musk owning Twitter? Let us know what you think about this subject in the comments section below. View the full article

Both ETH and BTC fell close to five-week lows to start the week, as losses in crypto markets extended on Monday. Following bearish pressure over the weekend, BTC started the week trading below $39,000, while ETH was under $2,900. Bitcoin Bitcoin started the week trading in the red for a fifth consecutive session, as prices dropped to multi-week lows. Following a peak of $39,845.92 on Sunday, BTC/USD plunged to an intraday bottom of $38,338.38 earlier today. This drop is the lowest level BTC has traded at since March 15, when price hit a bottom of $38,141. Although price has moved marginally away from earlier lows, this recent descending pressure has led some to believe that more declines could be ahead. Looking at the chart, there seems to be a key support point at the $37,570 level, which hasn’t been hit since mid-March, and should bearish momentum persist, this will likely be the next price target for traders. Relative strength is also lower, with the 14-day RSI breaking out of its own floor of 40 this weekend, with a lower support also potentially on the horizon. Ethereum The world’s second-largest cryptocurrency was also down on Monday, as recent bearish sentiment continues to impact prices. As of writing, today’s low sees ETH/USD fall to a bottom of $2,804.51, which comes after a high of $2,961.88 yesterday. This bottom is the lowest level ethereum has traded at since March 18, and comes following seven days of lower lows. The latest low comes after the support level of $2,950 was recently broken, with momentum of the 10-day and 25-day moving averages also fading in the process. Looking at the chart, the 14-day RSI is now tracking at 37.8, which is the weakest level for the indicator since late February. Despite the recent selloff, ETH is still up from its level at the same time last month, when it was trading at a floor of $2,500. Will we see a turnaround in ETH this coming week? Leave your thoughts in the comments below. View the full article

Blockchain data analytics firm Chainalysis has found that the total cryptocurrency gains worldwide amounted to $163 billion in 2021, which was 5x the previous year or a 400% increase. Chainalysis on Crypto Gains Worldwide Blockchain analysis firm Chainalysis published a blog post last week titled “2021 Cryptocurrency Gains by Country: Ethereum Leads as Gains Skyrocket Around the World.” The firm explained that its estimates are based on a combination of web traffic data and its transaction data, including “on-chain, macro-level flows of all crypto assets” it tracks. Noting that “2021 was another strong year for cryptocurrency,” the firm wrote that for all cryptocurrencies it tracks: Investors around the world realized total gains of $162.7 billion in 2021, compared to just $32.5 billion in 2020. The U.S. leads by a wide margin at nearly $47 billion in realized cryptocurrency gains, followed by the U.K., Germany, Japan, China, Turkey, Russia, France, South Korea, Canada, and Spain. Chainalysis also provided estimated cryptocurrency gains by country by coin. The blockchain data analytics firm described: The most notable trend here involves Ethereum gains. Ethereum just edged out bitcoin in total realized gains globally at $76.3 billion to $74.7 billion. “We believe this reflects increased demand for Ethereum as the result of defi’s rise in 2021,” the firm continued, emphasizing that most decentralized finance (defi) protocols are built on the Ethereum blockchain and use ETH as their primary currency. Nonetheless, Chainalysis noted: “While most individual countries follow this pattern, there are some notable exceptions. Japan, for instance, received a much higher share of realized gains from bitcoin at just under $4.0 billion, compared to just $790 million in realized Ethereum gains.” What do you think about Chainalysis’ findings? Let us know in the comments section below. View the full article

A tech innovations firm based in Georgia’s capital Tbilisi is now “selling Russia piece by piece” in the form of NFTs. The money from the collectibles, representing almost 2,500 Russian regions, will be used to help rebuild Ukraine, which was invaded by the Russian army two months ago. Georgian Project Auctions NFTs of Russian Land, Will Soon Offer the Kremlin Leavingstone, a digital creative agency from Georgia, has joined efforts to raise funds for Ukraine, which has been defending against Russian military aggression for eight weeks. The company is now selling non-fungible tokens (NFTs) representing parts of Russian territory. In the first of three planned phases of the ‘Russia for Sale’ initiative, Leavingstone is auctioning off 2,443 regions of the Russian Federation depicted on playing cards with name, size, and a “weirdly authentic coat of arms.” An interactive map offers the parcels to potential buyers and with 34 already sold, over $19,000 worth of ether has been accumulated so far. “We saw a huge potential in it,” Leavingstone co-founder Levan Lefsveridze told the Georgian service of Radio Free Europe. “The majority of people would want to be involved in Russia’s partition,” he added, in a clear attempt to troll Russian President Vladimir Putin and his government who have threatened to punish any calls for violating Russia’s territorial integrity. During the next stage of the sale, the Georgian agency will offer NFTs of Russian landmarks like the Kremlin, the Ostankino TV Tower in Moscow, Putin’s winter palace and home, a property worth close to an estimated $1 billion, and a bunker. “If you’re into the post-soviet aesthetic of Khrushchyovka architecture, you’ll like it,” the organizers tease investors. The third sale, they promise, is going to be a big one. “We’ll be auctioning Lenin himself. Yep. Stuffed granddaddy of the red revolution will be up for sale!” the project’s website pledges. Its operators emphasize that all the proceeds will be devoted to supporting Ukraine. The main beneficiary is the Ministry of Digital Transformation in Kyiv and all collected funds will be transferred to its wallet. Among other responsibilities, the department has been taking care of Ukraine’s defense in the cyberspace, another battleground in the conflict with Russia. Ukrainian government institutions and volunteer groups have received tens of millions of dollars’ worth of cryptocurrency donations since Moscow launched its military assault in the early hours of Feb. 24. The money is used to fund Ukraine’s defense efforts and solve mounting humanitarian problems. Moscow’s invasion of Ukraine came eight years after Russia annexed Crimea and gave support for the pro-Russian separatists in the Donbas region. Georgia has had its own problems with the same neighbor. Russia backed separatists in Abkhazia in 1992 and then prevented the Georgian government from retaking the territory of another breakaway republic, South Ossetia. You can support Ukrainian families, children, refugees, and displaced people by donating BTC, ETH, and BNB to Binance Charity’s Ukraine Emergency Relief Fund. Do you expect other, similar initiatives in the crypto space in support of Ukraine and its people? Tell us in the comments section below. View the full article

A Korean metaverse startup, Doubleme, is said to have raised $25 million in a Series A round that saw the leading South Korean electronics manufacturer Samsung Electronics take part. Capital Raised to Fund Marketing Efforts The South Korean electronics and smartphone maker Samsung is reported to have participated in Series A funding which raised $25 million for a Korea-based metaverse startup, Doubleme. The round was led by Coentry Investment and NH Investment. According to a Techinasia report, the startup, which was founded in 2015 by Albert Kim, Michael Kuczynski, and Heeyoung Kim, will use the funds raised for product development, marketing and hiring purposes. Doubleme also aims to commercially launch a Twin World metaverse platform that supports artificial reality devices later in the year, the report added. Twin World, which was launched in November 2020, allows users to create an artificial reality experience in any physical location. Since its launch, the platform has generated about $4.5 million in revenue from its paying customers that are found across 17 cities. Prior to the latest funding round, Doubleme had previously raised $1 million in seeding funding. In addition, the startup had also received a $16 million grant from the South Korean and the U.K. government. Samsung has been doubling-down on metaverse and NFT concepts for quite some time. At the end of March, Samsung partnered with Nifty Gateway in order to integrate NFT tech into the firm’s lineup of smart television products. During the first week of January, Samsung launched a virtual version of the company’s electronics store in the Decentraland metaverse world. What are your thoughts on this story? Tell us what you think in the comments section below. View the full article

Russia’s monetary authority intends to conduct the first settlements with the digital ruble next year, its governor announced this week. Speaking to Russian lawmakers, the official highlighted the important role the new currency is going to play for Russia under sanctions. Russia to Trial Digital Ruble in Settlements, International Payments The full launch of the digital ruble, Russia’s central bank digital currency (CBDC), should take place before 2030, according to the approved Financial Market Development Strategy of the Ministry of Finance. However, the Central Bank of Russia (CBR) plans to begin testing it in settlements as early as 2023, its Chair Elvira Nabiullina announced in the State Duma. Quoted by Tass, she elaborated: We quickly created a prototype of the digital ruble, now we are already testing with banks. Next year, we will pilot settlements in the real economy. The CBR started trials with the digital ruble in January and announced the first successful transactions between individual wallets in mid-February. Five financial institutions are currently participating and in the coming months, another seven banks will join the experiments that are expected to continue throughout 2022. The digital ruble, Nabiullina insisted, will create new opportunities for Russia, its citizens, and businesses. It will be used by the government for targeted payments to support certain sectors of the economy and the social sphere. Transfers between individuals will be free of charge, while payments for goods and services may be subject to a small commission of 0.4 – 0.7%. Speaking to members of the lower house of parliament, the governor emphasized that the digital currency will play a special role, now when Russia is under unprecedented Western sanctions. The CBDC is expected to facilitate not only settlements inside the Russian Federation, but also cross-border payments with its partners. The head of Bank of Russia expressed her hope that Russian deputies will adopt the necessary legal amendments to set the ground for the digital ruble’s commercial implementation. Her call comes after earlier this week, First Deputy Governor Olga Skorobogatova emphasized the importance of moving forward with the digital ruble project and assured the bank will not delay the trials. Do you think Russia will speed up the implementation of the digital ruble? Share your expectations in the comments section below. View the full article

Everyone would agree that the metaverse is a novel concept that is only going to become more popular as time goes on. Even now, many international companies from a variety of backgrounds such as Samsung, Emirates Airlines, and even JPMorgan have all gotten involved with the metaverse, so it is safe to say that this idea is not going away anytime soon. As such, the Olive Corporation’s metaverse platform may best be understood as an effective communication environment which develops and shares anything players can conceive via 3D Avatar and Playground services, allowing everyone to enjoy a variety of experiences, services and features. By providing point integration services inside the ecosystem, Olive Corporation hopes to enhance its business model and produce a reliable source of income as well as a steady stream of clients. Moreover, Olive is developing a metaverse that will begin with colleges, which are significant clients for the MZ generation. The objective is to boost the use of OLIVE tokens and to broaden the worldwide ecosystem by making the school metaverse and Olive Wallet Web compatible with one another. How does it work? Olive creates a point integration system that makes use of a blockchain-based metaverse platform and a point-only bank to allow clients to freely spend points inside it. There are different areas as well such as the Playground wherein users can freely participate in various quests, themes and other aspects associated with the metaverse. Offline content is also available and this section includes content which can induce and promote interest in platforms which will in turn improve the overall image and reputation of the brand. Lastly, there is the Points Integrated Service. Here, by allowing membership points offered by each business to be actively employed without pointless extinction, Olive seeks to serve consumers convenience and build synergy via complementary development among online delivery food enterprises. What about partnerships, accomplishments and future goals? BBQ Vietnam, Olive’s overseas division involved in global sales of BBQ, Korea’s #1 chicken brand, is Olive’s representative F&B chain partner. Additionally, the team has established collaborations with AC CAPITAL and five additional overseas venture capital firms. For F&B partners, Olive is in negotiations with over 100 well-known franchise organizations to execute business agreements before the end of 2022. Regarding past achievements, Olive has secured commercial partnerships with ten food and beverage companies, including BBQ, venture capital firms as well as various colleges, and has even produced Olive Wallet 1.0. The team is also planning to launch a metaverse platform which can be linked to various other platforms. In terms of future goals, Olive intends to follow the sales tactics of brands managed by F&B firms with which it has formed mutual agreements. The objective is to make customers experience real advantages by increasing the distribution of Olive points in response to consumer purchases during the event time and by presenting side menus of F&B brands ordered by users as promotions. The team believes that these actions will assist in securing customers’ points and promoting how points might be used. The key objective though is to encourage providing meals in order to acquire client satisfaction. The next major task is to thus secure points and customers by introducing financial mechanisms such as deposits as well as installment savings. Is it worth it after all? Ultimately, what a great idea it would be to allow consumers to swap their valuable points for Olive tokens at over 3,000 BBQ establishments in 20 countries across the world, including Korea, the United States, and Europe. That’s how the Olive project got its start. The metaverse environment serves as the foundation for any brand’s token ecosystem’s distribution channel and environment. It is therefore quite simple to develop and integrate customer-friendly systems, and it provides an excellent environment for responding to rapidly changing markets and customer trends. For more information, be sure to check out the official website and Telegram, Medium and Twitter channels. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

The CEO of the Nasdaq-listed cryptocurrency exchange Coinbase, Brian Armstrong, says Apple has not played nice with crypto, noting that the tech giant has banned a bunch of crypto features in its App Store. Apple’s anti-crypto policy raises “potential antitrust issues,” said the Coinbase executive. Potential Antitrust Issues Coinbase CEO Brian Armstrong talked about Apple’s crypto policy in an episode of the Superteam podcast, which aired last week. Superteam is a podcast that explores the web3 ecosystem in India. Commenting on Apple’s anti-crypto policy, he detailed: “You try to get your app in the App Store and Apple ejected it and then they had this competing one that got approved … it’s a black box.” The Coinbase boss elaborated: Apple so far has not really played nice with crypto. They’ve actually banned a bunch of features that we would like to have in the app, but they just won’t allow it — so there’s potential antitrust issues there. Armstrong added: “There’s going to have to be crypto-compatible phones that I think could actually become quite popular in the future, so it’ll be interesting to see how that plays out.” The crypto exchange CEO stressed that he doesn’t want Coinbase to be like Apple, adding: “Decentralized exchanges (DEXs) to me are very interesting for that reason.” Regarding coin listings, the Coinbase CEO explained that as a regulated financial service business, the platform cannot just list anything so Coinbase developed “very vigorous listing standards” to decide which cryptocurrencies will be listed. If a coin meets the platform’s listing standards, “then we want to list it and let the market decide,” the executive clarified, adding: I want us to be a little bit more like the Amazon of assets, not a walled garden like Apple’s App Store. Do you agree with Brian Armstrong? Let us know in the comments section below. View the full article

Skybridge Capital, a $3.5 billion asset management firm, is “extremely bullish” on the crypto sector, says an executive of the firm. “For us, we think the cryptocurrency markets represent tremendous growth.” ‘The Cryptocurrency Markets Represent Tremendous Growth’ Two executives of Skybridge Capital — founder Anthony Scaramucci and director John Darsie — talked about the firm’s crypto outlook in an interview with Bloomberg ahead of SALT, a global thought leadership forum, this week. Scaramucci explained that almost half of Skybridge’s asset under management is linked to crypto assets, including bitcoin, the Algorand protocol, Ethereum, and publicly traded, crypto-related stocks. Noting that his firm expects the crypto focus to triple its assets under management from $3.5 billion to $10 billion, he said: We feel so strongly about this opportunity that we’ve adapted and repositioned the firm to eventually be a leading cryptocurrency asset manager and adviser. “For us, we think the cryptocurrency markets represent tremendous growth,” he noted. Darsie, director of business development at Skybridge Capital, commented: We obviously are extremely bullish on the sector. “So what we decided to do was a portion of that capital that was previously allocated to credit managers was invested directly into crypto assets like bitcoin and Ethereum — but then also rotate capital into crypto-asset managers like Multicoin, Polychain, Pantera, people of that nature,” he elaborated. Commenting on how the Securities and Exchange Commission (SEC) is regulating the crypto sector, Scaramucci opined: “They won’t over-regulate the crypto space, they’re certainly not going to under-regulate it.” Regarding how the SEC has denied all proposals for bitcoin spot exchange-traded funds (ETFs) so far, the Skybridge founder stressed: “We think we’re early. So if we’re right, and you get a cash ETF, that opens the floodgates for more institutional and retail investing.” Skybridge’s application for a bitcoin spot ETF was rejected by the SEC alongside Fidelity’s and several others. Scaramucci explained: “I think the SEC is taking the position that because the cash trading of bitcoin is happening all over the world, they don’t have a one-market clearing for all buys and sells. So they’re worried about price manipulation.” He concluded: Over time, because of the transparency of the markets, I think they’re going to get more comfortable with it. The Skybridge founder has predicted that bitcoin will reach $100K and will eventually trade at $500K a coin. He also expects BTC to become legal tender in many Latin American countries. What do you think about the Skybridge executives’ comments? Let us know in the comments section below. View the full article

Exmo, a U.K.-based crypto exchange with extensive presence in Eastern Europe, is pulling out of Russia, Belarus and Kazakhstan. The trading platform, Exmo.com, says it’s making the move to avoid jeopardizing its expansion in other regions by operating in high-risk markets like these. The business has been sold to a Russian vendor, alongside rights to the Exmo.me domain and branding. Crypto Exchange Exmo Transfers Russia Operations to Local Entity Major Eastern European exchange Exmo announced earlier this week it’s selling its digital asset business in Russia and Belarus. The company explained the “tough decision” with efforts to avoid risking its global expansion plans by working in these countries. Both nations have been targeted by Western sanctions over Moscow’s invasion of Ukraine. “In addition, our Russian UBO, Eduard Bark, is leaving the company, transferring his stake as a part of a response to one of our directors, Serhii Zhdanov,” Exmo pointed out. “Kazakhstan clients were also included as a part of the deal, since a new team is based in Kazakhstan,” the press release further revealed. The Exmo.com user agreement has been recently changed to indicate that Russian, Belarusian and Kazakhstan residents are no longer being onboarded. The exchange also reminded traders that pairs with the Russian ruble on the Exmo.com platform have been disabled since April 15, 2022. According to its website, Exmo currently maintains offices in the U.K., Ukraine, Poland, Lithuania, U.S., and Cyprus, and employs over 200 people. “As a company we are very confident and positive about the future of our business and consider the new structure of the business commercially viable and sustainable,” a statement noted. Exmo is transferring the Russian, Belarusian and Kazakhstan crypto exchange business to the owner of a Russia-based software development company, one of the vendors that have been providing engineering services to the exchange in the past three years, the announcement unveiled without identifying the new entity. According to the crypto news page of the Russian business news portal RBC, the ownership of Exmo’s assets in the three markets has been handed over to a company called “ЭКСМО РБК ТОО” (EXMO RBC LLP) on March 31, this year. Nothing will change for customers in the three jurisdictions, a representative elaborated, as the new platform has the rights to use the same branding, software and technical developments as well as the official domain Exmo.me. The transformation will allow the exchange to work more effectively with payment systems, banks and to actively participate in the regulation of cryptocurrencies in the region. Exmo.me does not plan to restrict Russians’ access to cryptocurrencies, a company official was quoted as stating in another RBC report published Thursday. The spokesperson also assured that the exchange will seek to expand its operations in Russia while emphasizing: We see great potential in the region of the Russian Federation and will continue to actively develop the Russian part of the business and follow the long-term plans of the previous team. Crypto businesses working in the Russian market are facing mounting restrictions as Western governments continue to expand sanctions over the ongoing war in Ukraine, some of which are aimed at closing the loopholes in the crypto space. Following the news of the Exmo split, its main competitor in Russia, Binance, announced it’s limiting services for Russian users to comply with the latest EU sanctions. Do you expect other crypto exchanges to exit the Russian market? Let us know in the comments section below. View the full article

PRESS RELEASE. SeatlabNFT has announced the date for their IDO, with full details available via their website. The 24th of May 2022 is the first opportunity people around the globe will have to invest in the innovative NFT ticketing platform’s native token $SEAT. SeatlabNFT is a revolutionary event ticketing platform built on the climate-neutral NEAR Protocol blockchain, designed to create an immersive, more connected experience for everyone involved in live events. Minting tickets as NFTs and leveraging the transparent, irrefutable ledger provided by the blockchain will eliminate fraud and drastically reduce the impact of ticket scalping (the process of reselling tickets for popular events at a price much higher than the box office listing). Current solutions for event ticketing do not serve artists, fans or event creators. The ticketing industry has been plagued by touts and dehumanised by bots in the pursuit of profit at the expense of fans and those who make live events possible. SeatlabNFT allows artists to airdrop unique rewards directly to fans in the form of NFT collectibles, VIP tickets, community access passes, and even IRL experiences to improve artist-fan connections. SeatlabNFT is helping artists form closer relationships with their fans and create genuine value from their interactions. They’re also providing the tools to fight back against the scalpers using royalty splits and price ceilings to rein in the out of control secondary market. The SeatlabNFT Solution Tickets are free to mint, thanks to the unique ability of the applications on the NEAR Protocol blockchain to cover any gas fees incurred by their users. To make their money, SeatlabNFT charges a 5% buyers fee, which can be reduced by holding their $SEAT token. Half of all collected buyers’ fees are paid out as staking rewards. The other half goes directly to the platform treasury. The SeatlabNFT platform is developed around a tiered utility for those who hold their $SEAT token. Token holders benefit from a number of perks on the platform, including a reduced buyers fee when purchasing NFT tickets and other assets, exclusive access to the Rewards Centre, and the ability to stake their tokens in exchange for a cut of collected platform fees. Smart contracts govern royalty splits; a set percentage of any revenue generated from secondary sales is automatically sent to a single or multiple royalty beneficiaries specified by the event creator. This means that artists and event creators will be rewarded for their work, with revenue going directly to them instead of into the hands of scalpers and touts. $SEAT IDO The $SEAT token IDO will be the only opportunity that the community has to invest in the SeatlabNFT platform before the token is listed on major cryptocurrency exchanges. As with many Web3 IDOs, the $SEAT token will launch as a price discovery offering, meaning that the earlier users deposit funds into the contract, the better the price they will be able to buy their $SEAT tokens. Pre-register for the IDO before it starts on 24th May 2022 to get step-by-step instructions on how to participate. 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

The U.S.-based company Compass Mining plans to sell $30 million worth of bitcoin mining equipment that’s currently located in Siberia. The decision to sell the mining rigs follows the U.S. government sanctioning the bitcoin mining operation Bitriver and ten subsidiaries. Compass is hoping to offload 12 megawatts of capacity, according to a company executive. Compass Hopes to Sell 12 MW of Bitcoin Mining Capacity in Russia to Pay Clients According to Compass Mining’s CEO Whit Gibbs, the firm is selling $30 million in mining equipment that is currently located in Siberia. Speaking with Bloomberg on Friday, Gibbs explained the company is hopeful it will be able to obtain funds from the sale to pay off roughly 2,000 customers. Compass offers hosting services and the mining equipment in Siberia was owned by customers renting hosting space. During the last year before the Ukraine-Russia conflict, Russia became a preferred “hotspot” for bitcoin miners as electricity in the country is much cheaper than most regions worldwide. For instance, electricity rates in the Russian Federation, Siberia, and Norilsk, electric costs can be as low as $0.03 per kilowatt-hour (kWh). However, after the Ukraine-Russia war began, Russian crypto mining started getting assessed as a way the country can avoid sanctions and one of the largest ethereum mining pools stopped servicing Russian nationals. American Miners Feel Financial Constraints Caused by Sanctions Last week, the U.S. Treasury department’s Office of Foreign Assets Control (OFAC), sanctioned the bitcoin mining firm located in Russia, Bitriver and ten subsidiaries connected to the operation. Bitriver and subsidiaries were placed on the Specially Designated Nationals (SDN) list, which means no U.S. person or company may transact with the designated entities. Compass Mining’s decision to sell $30 million in mining equipment follows Bitriver being added to OFAC’s SDN list. Gibbs detailed that U.S. miners are being affected by financial constraints caused by sanctions. “I understand the sanctions; in this case, the punishment is outsized for American miners,” Gibbs explained to Bloomberg on Friday. What do you think about Compass Mining’s decision to sell $30 million in mining equipment located in Russia? Let us know what you think about this subject in the comments section below. View the full article

Bitcoin’s hashrate tapped a lifetime high this weekend reaching 271.19 exahash per second (EH/s) on Saturday, April 23 at block height 733,197. Currently, the computational power is coasting along at 233.81 EH/s with a network difficulty change expected three days from now on April 27. Bitcoin’s Hashrate Records an All-Time High, Hashpower Increased 55% Higher Since January The processing power that confirms transactions and secures the Bitcoin (BTC) network has reached an all-time high (ATH) on Saturday, April 23. The hashrate touched 271.19 EH/s, which is approximately 271,190 petahash per second (PH/s) or 271,190,000,000,000,000,000 hashes per second (H/s). Bitcoin’s hashpower has never been higher than this point in history and since block height 717,696 or January 8, 2022, the hashrate’s record high is an increase of 55.48% since then. The processing power backing the Bitcoin network reached an ATH of 246 EH/s on February 12, prior to the all-time high recorded on Saturday. Following a downward difficulty adjustment algorithm (DAA) change at block height 731,808, which saw the difficulty drop by 1.26%, the network is expected to see a DAA increase in roughly three days. Because the hashrate is running at such high speeds, the DAA is expected to increase by 3.21%. If the estimated DAA increase of 3.21% comes to fruition, Bitcoin’s network difficulty will jump from the current 28.23 trillion to a lifetime high of 29.13 trillion. Presently, on Sunday afternoon (ET), a block subsidy reward worth 6.25 BTC is currently valued at $247,063 using today’s bitcoin exchange rates. As Bitcoin’s hashpower tapped an ATH on Saturday, over the last three days, the top mining pool was Foundry USA capturing 22.55% of the global hashrate. Statistics show that Foundry’s 47.89 EH/s has allowed the pool to find 106 out of the past 470 blocks found by 13 pools. The second-largest bitcoin miner below Foundry USA was Binance Pool with 12.98% or 27.56 EH/s of hashpower. While statistics show that bitcoin’s price has not had the best first quarter in 2022, the hashrate increasing by more than 55% since that time is quite the feat. Metrics indicate that BTC’s current value is profitable to mine using most ASIC devices with 25 TH/s or more. At press time, the Bitmain Antminer S19 Pro (110 TH/s) mining rig with $0.12 per kilowatt-hour in electrical costs will see an estimated profit of $10.23 per day. What do you think about Bitcoin’s hashrate touching a lifetime high of 271 EH/s on Saturday? Let us know what you think about this subject in the comments section below. View the full article

During the last year, the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection has become one of the most popular NFT projects. After weeks of a continuous rise in value, the current floor price for a single Bored Ape NFT is 130 ether or $382K. Following the floor price rise, the decentralized derivatives exchange Injective Pro has revealed an NFT floor price perpetual market. Injective Pro Lists NFT Floor Price Perpetuals On Thursday, Injective Pro, the decentralized derivatives exchange built on Injective network, announced the launch of a NFT floor price perpetual market. The team believes that offering floor price perpetuals, lowers the barrier to entry in terms of popular and expensive NFT collections such as BAYC. “[Floor price perpetuals enable] retail users to trade based on the floor price of NFT collections, without actually having to hold custody of the NFT itself,” the trading platform explained. Bored Ape Yacht Club (BAYC) is one of the most expensive floor prices today as a single BAYC NFT has a floor value of 130 ether or $382K. The floor value gives the entire Bore Ape collection a market capitalization of around $3.81 billion. Out of 6,401 owners, the BAYC NFT collection has seen $7.99 million in 24-hour trade volume. The platform Injective Pro will allow customers to go long or short on NFT floors for $1 or more. “The NFT market has now entered the mainstream but the most popular collections such as Bored Ape Yacht Club remain out of reach for most given the high prices,” Eric Chen, the CEO and co-founder of Injective Labs remarked during the announcement. “The Bored Ape Yacht Club floor price perpetuals seek to allow everyday traders to gain exposure into this market, thereby leveling the playing field for most to join the Bored Ape community.” NFT derivatives and perpetuals follow other concepts like using NFTs as collateral for loans and fractionalized NFT markets. For instance, an NFT lending platform called Arcade, has millions of dollars worth of NFTs in escrow. The platform allows NFT owners to borrow, lend, and earn with their Bored Apes or other popular collections of value. Additionally, statistics show the fractionalized NFT market has a market valuation of around $8,713,345 today. Essentially, the new NFT perpetuals give digital collectible investors the ability to buy or sell the non-fungible token derivative for a certain price point in the future. Injective Pro believes the floor price perpetuals markets will allow “more users to gain exposure to high-value assets or hedge against NFT market volatility.” Meanwhile, the NFT floor price data stemming from coingecko.com shows BAYC’s floor at 130, while Opensea statistics show the floor value on that particular NFT exchange is 138.5 ether. Injective Pro’s announcement details that the company worked with the NFT portfolio management firm Nftbank in order to “create a custom price feed for the BAYC collection, which validates the initial price of the market. What do you think about Injective Pro’s Bored Ape floor price perpetuals? Let us know what you think about this subject in the comments section below. View the full article

The Office of Foreign Asset Control (OFAC) has added three ethereum addresses to its Specially Designated Nationals And Blocked Persons List (SDN). OFAC alleges the ether addresses are controlled by the Lazarus Group, a cybercrime group that is associated with North Korea. Lazarus Group Behind Axie Infinity Heist The U.S. Treasury Department’s OFAC has added three ethereum addresses that are allegedly associated linked with the Lazarus Group cybercrime syndicate to its SDN list. The addition of the addresses comes a few weeks after U.S. authorities accused the Lazarus Group and North Korean hackers of being behind the $620 million Axie Infinity heist. As previously reported by Bitcoin.com News, after reports of the hacking emerged, the U.S. government claimed the cybercrime group was part of a group of hackers that spearheaded the Ronin bridge attack that resulted in the siphoning of over 173,000 ethereum tokens. Also, prior to the department’s latest update, the ethereum mixing project Tornado Cash revealed it was blocking OFAC sanctioned addresses from using the mixer. North Korea Sanctions Evasion In a statement released via Twitter on April 22, the U.S. Treasury Department suggested the blocking of access to funds at the designated addresses would deprive the sanctions-evading North Korea of a vital source of revenue. The statement explained: OFAC added 3 virtual currency wallet addresses to the SDN Listing for Lazarus Group. The DPRK [North Korea] has relied on illicit activities like cybercrime to generate revenue while trying to evade U.S. & UN sanctions. While authorities in the U.S. insist the blockade will stop North Korea from using the stolen crypto, an earlier report by Bitcoin.com News suggested the cybercriminals would still be able to move the funds by simply transferring the funds to an unsanctioned ether address. Meanwhile, in addition to directly blocking the three ethereum addresses, the U.S. Treasury Department statement warned against transacting with these addresses. The statement suggested that those doing so would become a target of U.S. sanctions. What are your thoughts on this story? Tell us what you think in the comments section below. View the full article

Former Twitter CEO Jack Dorsey ponders Ethereum’s “single points of failure” and whether one man should be able to control an entire social media network, while Bitcoin.com News gives you the latest scoop in the world of ETH and BTC mining rigs. To top it all off, one economist predicts that the U.S. central bank’s response to the nasty inflation being seen could actually be good for crypto prices. Here’s your bite-sized digest of this week’s hottest crypto news: The Bitcoin.com News Week in Review. Jack Dorsey on Ethereum’s ‘Single Points of Failure’ The internet entrepreneur and former CEO of Twitter, Jack Dorsey, claims if developers are building on Ethereum they have “at least one, if not many, single points of failure.” The statement was in response to Vitalik Buterin’s commentary concerning Elon Musk running Twitter. Read More Today’s Top ETH and BTC Mining Devices Continue to Rake in Profits As the crypto economy hovers just under $2 trillion in value, application-specific integrated circuit (ASIC) mining devices are making decent profits. While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51.58 per day in profits. Read More Microbt Reveals Latest Bitcoin Mining Rigs Following Bitmain’s product introduction of two new application-specific integrated circuit (ASIC) bitcoin mining rigs, the mining devices manufacturer Microbt has announced the launch of two new miners as well. Revealed during the Bitcoin 22 conference in Miami, Microbt showcased the company’s new Whatsminer M50 series, which offers hashrate speeds of up to 126 terahash per second (TH/s). Read More Economist: Fed’s Response to Inflation Will Push Crypto Higher Allianz Chief Economic Advisor Mohamed El-Erian says that the Federal Reserve’s response to inflation will cause the prices of cryptocurrencies, like bitcoin, to “go higher.” He noted: “That’s what you get when you’ve waited too long to recognize what inflation is and to take action.” Read More What do you think about this week’s hottest stories from Bitcoin.com News? Be sure to let us know your thoughts in the comments section below. View the full article

Ripple, the cryptocurrency and payments company, has issued an article examining the opportunities that Latam brings for crypto companies as its regulated payments rails come to crypto. While the region faces some obstacles due to its economic traits and the dominance of centralized banks, the organization believes there is a lucrative opening for companies partnering with these banks to bring crypto to the masses. Ripple Spots Opportunities in Latam Ripple, the banking payments, remittances, and cryptocurrency company, believes that Latam could be a hotspot of opportunities for crypto companies in the future. In a recent article, Ripple examines the current payments and the possible integration that crypto services may find in the region. According to the company, crypto companies might find these openings when banks start integrating cryptocurrency services into their platforms. About this idea, the company stated: There is a lucrative opening for traditional banks, fintechs and governments to increase adoption of crypto-forward technology to address this underbanked and fragmented market. This points to the idea of crypto companies collaborating with banks and fintech companies to take an active role amongst the main rails to transact and make payments in these countries. Barriers to the Process However, this integration process would likely not be without its hiccups. Traditional payment rails are managed by banks in the region, and banking inclusion is very high in some of the largest countries, with Brazil and Chile having 88% and 82% of their population banked, respectively. The opportunities come in the form of offering services with lower fees than traditional institutions, which could make people move from cash and other payment methods to digital transactions. The inclusion of crypto companies in the different debates that are happening regarding regulation will also be very important for the future of crypto in the region, according to the article. Ripple believes that this process will be positive, stating that: Smart and progressive regulation will beget further successful regulation — leading to increased innovation and progress around crypto across Latin America. In this sense, there is a regulatory awakening in the continent, with countries like Brazil and El Salvador leading the pack when it comes to crypto regulation. Brazilian legislators have vowed to present a unified regulation for cryptocurrency assets before the Congress to be approved in the coming months, and El Salvador declared bitcoin legal tender last year with the approval of its Bitcoin Law. This presented scenario also includes a progressive detachment from the dollar and U.S. markets, which currently have significant influence in the region. On this, Ripple concluded: The possibility of insulation from other regions’ financial swings underscores a major reason why achieving interoperability across Latin America and avoiding the de-risking trend in the US is so critical for LATAM economies. What do you think about Ripple’s opinion regarding the future of crypto in Latam? Tell us in the comments section below. View the full article

The adoption of crypto assets among individuals and businesses has been rapidly spreading over the last few years. It is no longer uncommon to treat yourself to a delicious meal or buy yourself a new pair of sneakers and pay for it in crypto. The blockchain-based payment technology has come incredibly far and its simplicity is amazing. This increasing real-life usage of crypto payments has brought the new-age payment option one step closer to the mainstream. The well-known aviation company Fast Private Jet recently published an interesting study of the world’s best crypto-friendly cities. Surprisingly, the top crypto-friendly destinations were mainly situated in Europe, and the top spot of the best crypto-friendly city in Europe went to Ljubljana, the capital city of Slovenia. Surpassing other most crypto-savvy cities like Vienna, Rome, Madrid, and Prague, Ljubljana earned the number one place as the most crypto-friendly destination with more than 137 businesses and 584 different locations accepting payments with digital coins and tokens. Indeed, Slovenia boasts an astounding number of 1333 crypto-friendly bars and restaurants, shops, and sports venues, where crypto payments are accepted. The backbone of this futuristic payment method is the GoCrypto network, developed in 2018 by the Slovenian company Eligma. In just 4 years, GoCrypto has gained the status of the fastest-growing crypto payment network in the world. Present in 69 countries worldwide and with at least one active location in 32 of those countries, GoCrypto is available at more than 80.000 locations (physical and online stores) by over 150 million users. The crypto network is also integrated into Eligma’s holistic payment solution, Elly POS terminal, as one of its numerous payment methods. The GoCrypto network running the most crypto-friendly city in Europe is available in a diverse list of segments, from automotive, sports, and electronics to entertainment, retail, hospitality, and traveling. Slovenia’s crypto payment story began in Ljubljana’s biggest shopping district, conveniently called the BTC City. BTC joined forces with the GoCrypto team and offered its merchants a comprehensive testing environment for accepting payments in cryptocurrencies. The retailers showed great interest in an innovative payment approach, which is now available in more than 100 BTC locations. The first crypto payment was made in April 2018 in Atlantis Water City. The use of crypto-payments has grown by almost 900% to date. With the GoCrypto payment system, ATMs for exchanging fiat (eur) and cryptocurrencies, and its own Blockchain and Start-up community, BTC City is transforming its business into the first Bitcoin city of its kind in the world. Business owners can integrate the GoCrypto payment network into their cashier system and start accepting crypto payments right away, with no additional crypto knowledge needed. Their customers can decide to use one of the two biggest crypto wallet providers Binance Pay and Bitcoin.com Wallet, or Eligma’s own custodial Elly Wallet, which was specifically designed to support every aspect of the GoCrypto network. All three combined support over 50 different cryptocurrencies. And the best part about it is that merchants can avoid all crypto volatility risks if they choose their settlements in their local currency. This means they can accept crypto and get settled in euros if they so prefer. Crypto-friendly travel destinations have become a big hit among global travelers. While Ljubljana has been titled the European Best Destination in 2022 and has now been recognized as The Best Crypto-Friendly City in Europe as well, the Slovenian capital will surely be one of the most visited cities in the upcoming years. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

Two Japanese carmakers, Nissan and Toyota, have launched operations in the metaverse. Nissan’s virtual showroom can host vehicle launches and other events, while Toyota’s workspaces are being used to hold employee meetings. ‘Limitless Possibilities’ Japanese carmakers Nissan and Toyota have become the latest global corporations to join the metaverse after a report said the former had launched a virtual showroom while the latter had created virtual workspaces. By establishing a presence in the metaverse, the two carmakers join their European counterparts Volkswagen and Mercedes Benz in making use of the technology. As per a Nikkei Asia report, Nissan has created a digital reality version of its Tokyo gallery Nissan Crossing which can be used for vehicle launches and other events. On its website, Nissan Motor Corporation stated that through its Invisible-to-Visible — an augmented reality interface that connects to the metaverse — it has created “limitless possibilities for services and communications that will make driving more convenient, comfortable, and exciting.” On the other hand, Toyota, which is one of the largest carmakers in the world by volume, is reported to have created virtual workstations for some departments and its subsidiaries. Using avatars, employees take part in company meetings and also chat with each other. According to the report, the technical development and human resources teams at the parent company are already utilizing virtual workspaces. There are also plans to further expand this, the report said. Another Communication Option Meanwhile, a Toyota representative suggested the Covid-19 pandemic and the associated restrictions on human movement had inspired the carmaker’s decision to launch virtual workspaces. “With more people working from home because of the coronavirus, we are providing young employees and others communication options within the company,” the unnamed representative of the carmaker is quoted stating. What are your thoughts on this story? Tell us what you think in the comments section below. View the full article

A16z, also known as Andreessen Horowitz, the venture capital (VC) company that has invested millions in crypto-related projects, has announced the launch of its own crypto research lab. This new initiative seeks to marry academic research with producing ideas and putting them into practice in startups and organizations in which the company is heavily invested. A16z Announces It Will Conduct Blockchain Related Academic Research Andreessen Horowitz, an organization with heavy investments in crypto and Web3 startups, has announced the launch of the a16z crypto research lab, an initiative that will let the company tackle the challenges the sector presents. The company considers that the crypto and Web3 sector has “emerged as a new frontier in technology, and it has matured into an independent field of knowledge that brings together elements of computer science, economics, finance, and the humanities” This potential the VC firm sees in the blockchain environment is what is fueling its dedication to trying to solve all the new problems that the crypto environment faces, combined with the ability to put these resolutions to the test. On this, a16z stated: There is an opportunity for an industrial research lab to help bridge the worlds of academic theory with industry practice, and to help shape crypto and web3 as a formal area of study by bringing together the very best research talent from the various disciplines that are relevant to the space. The lab will be headed by Tim Roughgarden, a researcher and computer science professor at Stanford and Columbia, and Dan Boneh, professor of computer science and electrical engineering at Standford, where he also leads the Center for Blockchain Research. Practical Focus in Mind A16z has created this initiative with a practical focus in mind, applying the solutions designed and found via investigation to part of the companies in which a16z has important investments. Be it DAOs (decentralized autonomous organizations), decentralized finance, or NFT Gamefi projects, the a16z crypto lab will have four teams directed to make companies in the a16z portfolio generate ideas for solving hard open problems, implement these solutions in code, make sure these solutions comply with regulations, and share these findings with the crypto community. The company aimed to raise $4.5 billion for two different crypto-related funds in January, with $1 billion being directed to the financing of new startups in the field. What do you think about a16z’s new crypto research lab? Tell us in the comments section below. View the full article

International Monetary Fund (IMF) Managing Director Kristalina Georgieva says India is “a country that is on the frontline of digital currencies,” especially “how it handles a reduction of risk from crypto assets for the Indian people and businesses.” She met with Indian Finance Minister Nirmala Sitharaman to discuss crypto regulation. IMF’s Chief Comments on Indian Crypto Policy IMF Managing Director Kristalina Georgieva commended the Indian government’s approach to cryptocurrency at an IMF press conference Wednesday. Responding to a question about “what role India can play in improving the global economic situation so as to safeguard the interests of the most vulnerable,” the IMF chief said, “India already plays a very important international role.” She elaborated: And it is a country that is on the frontline of digital currencies, especially central bank digital currency and how it handles a reduction of risk from crypto assets for the Indian people and businesses. The IMF boss met with Indian Finance Minister Nirmala Sitharaman Monday, and crypto regulation was among the topics they discussed. Officials of India’s Ministry of Finance have reportedly been consulting with the IMF and the World Bank on crypto policies as the government works on how to treat crypto assets. The Indian government started taxing cryptocurrency income at 30% without allowing loss offsets or deductions on April 1. Crypto trading volumes subsequently plunged at exchanges across the country. A further 1% tax deducted at source (TDS) will soon go into effect. Indian Finance Minister Discusses Crypto at IMF Meeting The Indian finance minister raised concerns about the risks of cryptocurrencies at the IMF meeting last week. “I think the biggest risk for all countries across the board will be the money laundering aspect and the aspect of currency being used for financing terror,” she described. Emphasizing that regulation is key, Sitharaman detailed: Regulation using technology will have to be so adept that it has to be not behind the curve, but be sure that it is on top. The Indian finance minister added that it is not possible for one country to do it alone. “That’s not possible. If any one country thinks that it can handle it. It has to be across the board,” she stressed. Tobias Adrian, Financial Counselor and Director of the IMF Monetary and Capital Markets Department, said last week that “Regulating crypto assets is certainly high on the agenda” for India. Meanwhile, India’s central bank, the Reserve Bank of India (RBI), is working on a digital rupee which the finance minister said will be introduced this financial year. Earlier this month, RBI Deputy Governor T. Rabi Sankar said the central bank would go about launching a digital currency “in a very calibrated, graduated manner, assessing impact all along the line.” “The digital rupee will be the digital form of our physical rupee and will be regulated by the RBI,” Indian Prime Minister Narendra Modi previously explained. “The digital rupee will revolutionize the fintech sector,” Modi noted. What do you think about the IMF chief’s comments about how India handles crypto? Let us know in the comments section below. View the full article

Twenty-three U.S. lawmakers have called on the U.S. Environmental Protection Agency (EPA) to increase oversight of cryptocurrency’s environmental impacts. “We request that the EPA evaluate ‘Proof-of-Work’ mining facilities’ compliance with environmental statutes,” they said. Lawmakers Want More Oversight of Bitcoin Mining Industry U.S. Representative Jared Huffman (D-CA) and 22 other Congress members jointly sent a letter to Environmental Protection Agency (EPA) Administrator Michael Regan regarding cryptocurrency mining operations Wednesday. The congressman from California is the chair of the United States House Natural Resources Subcommittee on Water, Oceans and Wildlife. He is also a member of the House Select Committee on the Climate Crisis. The letter calls for “increased oversight of cryptocurrency’s environmental impacts,” Rep. Huffman’s office announced Thursday. In their letter, the lawmakers described: We have serious concerns regarding reports that cryptocurrency facilities across the country are polluting communities and are having an outsized contribution to greenhouse gas emissions. Among other claims, the lawmakers asserted that Proof-of-Work (PoW) mining contributes to “significant greenhouse gas emissions” and “results in major electronic waste challenges due to the highly specialized and short-lived computing hardware needed to secure the network.” They stressed, “The industry needs to be held accountable for this waste and discouraged from creating it.” The Congress members also pointed out that “Less energy-intensive cryptocurrency mining technologies, such as ‘Proof-of-Stake’ (PoS), are available.” Noting that communities around cryptocurrency mining facilities “have reported significant noise pollution,” the lawmakers emphasized that “It is critically important that the EPA uses these authorities to adequately protect communities across the U.S being disrupted by these cryptocurrency facilities.” They concluded: We request that the EPA evaluate ‘Proof-of-Work’ mining facilities’ compliance with environmental statutes, such as the Clean Air Act and the Clean Water Act, and engage with the communities when reviewing permits. “Further, we ask that the EPA investigate and address any harm these existing PoW facilities are causing communities,” the lawmakers added. Many of the claims regarding bitcoin’s environmental impacts have been debunked. Ark Invest, for example, has explained several times that bitcoin mining is net positive for the environment, and concerns about the cryptocurrency’s energy consumption are misguided. Furthermore, Galaxy Digital published a report in May last year showing that the banking system uses significantly more energy than bitcoin. In January Coinshares published a report showing that bitcoin’s mining infrastructure accounts for 0.08% of the world’s carbon dioxide production today. The company further noted that “Usage of energy is a contentious and much-misunderstood function of the Bitcoin monetary system.” Earlier this month, celebrity investor Kevin O’Leary said that “bitcoin mining is going to save the world.” What do you think about U.S. lawmakers seeking increased oversight of cryptocurrency’s environmental impacts? Let us know in the comments section below. View the full article

The CEO of the Nasdaq-listed company Microstrategy has dispelled the rumor that his company has been quietly selling bitcoin. He explained that as a company regulated by the Securities and Exchange Commission (SEC), changes in bitcoin holdings must be disclosed to shareholders via SEC filings. Microstrategy’s CEO Points Out Any Bitcoin Sales Must Be Publicly Disclosed to SEC and Shareholders This week, a rumor has been circulating on social media that the Nasdaq-listed pro-bitcoin software company Microstrategy has been quietly selling its BTC. Microstrategy CEO Michael Saylor tweeted Friday dispelling the rumor. He explained that as a regulated company under the U.S. Securities and Exchange Commission (SEC), Microstrategy is required to disclose any material changes in corporate strategy to shareholders via SEC filings. In addition, the executive emphasized that SEC filings are public records that are “available to all.” He further noted that material changes include acquiring and holding bitcoin as well as making changes to crypto holdings. Bitcoin.com News published an article this week explaining why the rumor is untrue and the BTC address in question is not owned by Microstrategy. The address is in fact likely owned by a crypto exchange platform. While some people appreciate Saylor’s clarification, some are still skeptical, choosing to believe that the rumor of Microstrategy selling bitcoin is true. Saylor has been an avid proponent of BTC. He has repeatedly said that he will not sell his coins anytime soon, noting that he will hold them for a hundred years. In February, the Microstrategy boss said: “I see evidence of a lot more institutional adoption, greater adoption amongst macro and other hedge funds.” In December last year, he predicted that the price of bitcoin could reach $6 million. Earlier this month, his company spent $200 million more on acquiring bitcoin, raising its total holdings to 129,218 BTC. Microstrategy obtained a bitcoin-backed loan to purchase the additional coins. What do you think about the rumor that Microstrategy has been selling bitcoin? Let us know in the comments section below. View the full article

Shiba inu holders can now get rewards for burning their SHIB tokens as the project’s development team officially launched the Shibaswap burn portal. According to the team, SHIB burners generate passive income in the form of RYOSHI rewards by holding on to a new token called “burntSHIB.” SHIB Army Celebrates the Token Burn Rate as Burn Portal Goes Live Supporters of the meme-based crypto asset shiba inu (SHIB) have been discussing the launch of the official Shibaswap burn portal. While SHIB network participants have been burning tokens for quite some time, the burn portal gives any SHIB owners with a Web3 wallet the ability to burn SHIB, and obtain passive income rewards for their burn participation. On Saturday, the Twitter account @shibainuart wrote: “The SHIB burn portal is LIVE — Burn SHIB, reduce its circulating supply, and generate passive income while doing so.” A great number of other SHIB supporters discussed the official burn portal hosted on Shibaswap as well. While Bitcoin.com News reported on SHIB’s burn rate jumping 26,000% on April 9, the burn rate settled down a great deal after that point. Let's goooo!! 💯🚀$SHIB burn portal is now LIVE now you guys can burn $SHIB, reduce its circulating supply. — SHIB HODLER 🐕 (@ShibaInuHodler) April 23, 2022 With the burn portal in place, shibburn.com data indicates that the burn rate is rising once again. Presently, the burn rate has increased by 347.35% during the last 24 hours. According to the official burn portal, the website says 1,441,683,884.82 SHIB since this post was written. “Welcome to the SHIB Burn Portal,” the website explains. “We’re excited to see you here. This burn portal is set to make it rewarding for users to regularly burn SHIB while effectively reducing its circulating supply.” The website further adds: This portal has been built to reward SHIB burners, with a passive income acknowledgement, in the form of RYOSHI rewards. Meaning that 0.49% of all RYOSHI transactions will be distributed to owners of burntSHIB. SHIB Team believes Every Burn Will Help ‘the Wealth of the Community Grow’ According to the burn portal website, SHIB burners that obtain burntSHIB will get an estimated 43.76% annual percentage rate (APR), but the APR does fluctuate. The website explains that users need to add the token burntSHIB to their Web3 wallet like Metamask. “Our hope is that with every burn, the wealth of the community grows, but also by rewarding the effort in the long term to make shiba inu one of the best digital assets in the history of cryptocurrencies,” the official burn portal explains. Meanwhile, many SHIB fans posted proof that they had burned SHIB on Twitter or shared the current burn rate percentage increases. What do you think about the Shibaswap burn portal and SHIB fans celebrating the rising burn rate? Let us know what you think about this subject in the comments section below. View the full article