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The Zapala Free Zone, an area located in Neuquen, Argentina that has the objective of incentivizing various productive activities, will receive its first bitcoin mining-related investment this year. The company that will create the power infrastructure for the mining farm aims to generate more than 114 MW of power for mining operations in the first year. Zapala Free Zone Gets Into Bitcoin Mining Zapala, a free trade zone in the province of Neuquen in Argentina, will get its first bitcoin mining-related investment. For the year 2023, the zone aims to have an installed capacity of 114 MW that will be used for the transformation of the area into a hub for bitcoin mining. Bitcoin mining in the region is incentivized in that Zapala, being a free zone, doesn’t charge taxes for using public services. The project, according to a business plan that will be presented to authorities of the province, will contemplate an investment of $20 million, and is expected to be complete for Q1 2023. The managing director of FMI Minecraft, John Blount, stated that this project will be a phased construction that will include “a 100 MW high-density data center for an industrial BTC data processor/miner, expandable to over 1 GW.” Fernando Montero, CEO of the Zapala Free Zone, explained that for this purpose, the company has to lay more than 100 km of gas pipeline in the first year. Montero also elaborated on the benefits of conducting these projects in the zone, stating that: The fact of being a Free Zone gives us the benefit of being exempt from taxes for certain projects, which is why it is a very attractive space for investments related to oil & gas, mining, and technology. There is good accessibility and we are in the heart of the province. Argentina: A Bitcoin Mining Haven Argentina has been in the sights of Bitcoin miners recently as a place with favorable conditions to conduct their business. Bitfarms, another mining company, is building a large mining center in the country that aims to accommodate 55K Bitcoin miners, with a capacity of 210 MW. The main selling point of Argentina is the low cost of the power used to mine bitcoin, according to reports. Bitfarms reportedly obtained a price of 2.2 cents per kilowatt hour, described as an “attractive rate” by the CEO of the company, Emiliano Grodzki. What do you think about the bitcoin mining projects to be developed in the Zapala Free Zone? Tell us in the comments section below. View the full article

Canada’s police have seized bitcoin worth more than $28 million from a former government employee who has been extradited to the U.S. to “face charges for dozens of ransomware attacks resulting in the payment of tens of millions of dollars in ransoms.” Canadian Authority Seizes Bitcoin Worth $28 Million The U.S. Department of Justice (DOJ) announced Thursday that a former Canadian government employee was extradited the previous day from Canada to the U.S. to “face charges for dozens of ransomware attacks resulting in the payment of tens of millions of dollars in ransoms.” The DOJ detailed that from April through December 2020, Sebastien Vachon-Desjardins “conspired to and did intentionally damage a protected computer and transmit a ransom demand in connection with doing so.” The Justice Department launched a coordinated international law enforcement action to disrupt ransomware group Netwalker in January last year. The indictment charges the 34-year-old Canadian from Gatineau, Quebec, “with conspiracy to commit computer fraud and wire fraud, intentional damage to a protected computer, and transmitting a demand in relation to damaging a protected computer arising from his alleged participation in a sophisticated form of ransomware known as Netwalker.” Assistant Attorney General Kenneth A. Polite Jr. of the Justice Department’s Criminal Division commented: We will use all legally available avenues to pursue seizure and forfeiture of the alleged proceeds of ransomware, whether located domestically or abroad. “The department will not cease to pursue and seize cryptocurrency ransoms, thereby thwarting the attempts of ransomware actors to evade law enforcement through the use of virtual currency,” he continued. Canadian law enforcement officers arrested Vachon-Desjardins in Quebec on Jan. 27 last year at the request of U.S. authorities, the DOJ said Thursday, adding that they proceeded to execute a search warrant at his home. According to the Justice Department: During the search, officers discovered and seized 719 bitcoin, valued at approximately $28,151,582 as of today’s date, and $790,000 in Canadian currency. What do you think about this case? Let us know in the comments section below. View the full article

The European Union is extending the scope of sanctions introduced in response to Russia’s invasion of Ukraine, with the latest agreement between member states specifically mentioning crypto assets. Russian oligarchs, senators and Belarusian banks have been targeted. Europe’s Sanctions Classify Crypto Assets as Securities to Close Loopholes for Russia On Wednesday, the European Commission welcomed a new agreement between the 27 members of the European Union to amend the bloc’s regulations imposing sanctions on Russia — for its military assault on Ukraine — and Belarus, for its involvement. The changes are meant to ensure the restrictions cannot be circumvented. We are further tightening the net of sanctions responding to Russia’s military aggression against Ukraine •Listing 160 individuals: oligarchs, Russian Federation Council members •Belarus banking sector •Export of maritime navigation technology to Russia •Adding crypto-assets — Ursula von der Leyen (@vonderleyen) March 9, 2022 Some of the new penalties for Russia are hitting another 160 individuals participating in actions threatening Ukraine’s sovereignty. The group includes 14 oligarchs and prominent businessmen as well as 146 members of the Federation Council, the upper house of Russian parliament, who ratified Moscow’s decision to recognize the breakaway republics of Donetsk and Lugansk. Тhe European measures now apply to a total of 862 Russian individuals and 53 entities. And as concerns have grown that Russia’s government and elites may use cryptocurrency to bypass western sanctions, crypto assets have been targeted as well. The latter are now listed under the “transferable securities” category. The announcement noted: The EU confirmed the common understanding that loans and credit can be provided by any means, including crypto assets, as well as further clarified the notion of ‘transferable securities,’ so as to clearly include crypto-assets, and thus ensure the proper implementation of the restrictions in place. The European Union is also taking steps to limit options for Russia to evade sanctions through Belarus. Several Belarusian banks — Belagroprombank, Bank Dabrabyt, and the Development Bank of the Republic of Belarus as well as their domestic subsidiaries — have been cut from SWIFT, the global interbank messaging system. Some transactions with the Central Bank of Belarus, like those related to the management of assets and investment funding, have been banned, too. The amendments also aim to “significantly limit the financial inflows from Belarus to the EU by prohibiting the acceptance of deposits exceeding €100.000 from Belarusian nationals or residents.” The addition of crypto assets comes despite the EU still working on its cryptocurrency regulations. The Markets in Crypto Assets (MiCA) proposal was submitted this week to the European Parliament and its Economic and Monetary Affairs Committee (ECON) will vote on the proposal on March 14. Last month, after Russia attacked Ukraine, President of the European Central Bank Christine Lagarde urged EU authorities to quickly approve the regulatory package in order to deny Moscow opportunities to employ cryptocurrencies to circumvent European sanctions. Do you think the new EU restrictions can prevent Russia from using cryptocurrencies to bypass sanctions? Share your thoughts on the subject in the comments section below. View the full article

Santander is developing the possibility of offering loans backed by tokens that are collateralized in agricultural products. The bank has partnered with Agrotoken, a company that launched a series of agricultural commodity tokens already being used in agriculture-related markets to make transactions. A pilot test has been conducted to validate the system used to produce these loans. Santander Runs Grain-Backed Loans Pilot Test in Argentina The Spanish multinational bank Santander has announced it is developing a system to offer loans that would be backed by commodity tokens. The initiative has been launched in partnership with Agrotoken, an Argentinian startup that developed a group of grain-backed tokens allowing producers to transact with their commodities. According to a press release by Santander Argentina, a test run of the system has already been conducted, and Argentinian producers validated the software product and its state. Santander reports this is the first product of its kind, linking financial products with agricultural tokens, including blockchain services to facilitate transactions. Fernando Bautista, head of agrobusiness at Santander Argentina, stated: This is the first time that a service platform uses blockchain technology and crypto assets to expand the agricultural credit market and release the business potential of the producer. The tokens created by Agrotoken are three: SOYA, CORA, and WHEA. Each one of these tokens is backed by a ton of grain (corn, soy, or wheat) that the producer delivered to a grain collector. The token is then issued by a decentralized system that uses “Proof of Grain Reserve” to validate the existence of the grain for each transaction. Applied Tokenization Santander believes this token system will facilitate the creation of a whole new business, where agricultural producers will be able to get financing in a straightforward way, using their own products as collateral. Fintech is one of the hottest fields for Santander in Argentina, and the bank announced it will invest $225 million in the country to modernize its software and hardware infrastructure to offer new products to its customers. This is according to Ana Botin, president of Santander. The Agrotoken assets have been used in several operations since 2021, helping producers to acquire machinery and other materials in a simplified fashion. Santander’s interest in crypto is not new, as the bank is already prepared to offer a cryptocurrency ETF product in Spain. What do you think about Santander’s loan system backed by agricultural tokens? Tell us in the comments section below. View the full article

The regulatory arm of the United Arab Emirates (UAE)’s special economic zone, the Dubai International Financial Centre (DIFC), has unveiled a consultation paper outlining its proposed regulatory regime for crypto tokens. Changes to the Draft Legislation The Dubai Financial Services Authority (DFSA), the financial regulatory agency of UAE’s special economic zone, the Dubai International Financial Centre (DIFC), has released a consultation paper proposing a regulatory regime for crypto tokens. The DFSA said the public has until May 6, 2022, to comment on the regulatory agency’s proposal “for a regulatory regime for persons wishing to provide financial services activities in respect of crypto tokens.” Once the public consultation phase is over, DFSA will then make the changes to the draft legislation as it sees fit. The paper explains: Following the public consultation, we will decide which changes to the proposed regime are necessary and amend the proposed draft legislation as appropriate. The amended Regulatory Law and Markets Law will be submitted to His Highness the President of the DIFC for his consent and then for assent to His Highness the Ruler of Dubai. The DFSA added that a final version of the laws and rulebook modules will be published on its website. On the other hand, the regulatory agency said interested parties “should not act on the proposals until the relevant changes are made.” Excluded and Prohibited Tokens Meanwhile, the DFSA also clarified in this consultation paper that the latest proposals only relate to crypto tokens which are distinct from investment tokens. According to the regulatory agency, investment tokens — previously referred to as security tokens — are dealt with in a different consultation paper. The latest consultation paper also distinguishes between crypto tokens and what are referred to as prohibited and excluded tokens. According to the DFSA, excluded tokens consist of utility tokens which are “a type of token that has a specific use case within a closed ecosystem.” Non-fungible tokens (NFTs) and Central Bank Digital Currencies (CBDCs) are also on the list of the DFSA’s so-called excluded tokens. Privacy tokens and devices, plus algorithmic tokens, are listed in the DFSA’s consultation paper as the prohibited tokens. The regulatory agency said it is proposing to “ban these tokens and introduce a prohibition that no public offer or promotion” of any such tokens should take “place in or from the DIFC.” What are your thoughts on this story? Tell us what you think in the comments section below. View the full article

The Avalanche Foundation has announced a new incentives program to support the use of subnets. The organization announced that the program, dubbed “Multiverse,” will connect developers with a fund of up to $290 million, approximately 4 million AVAX, to incentivize the growth of subnets, a trait that allows AVAX to spur multiple networks that share common computing resources. Avalanche ‘Multiverse’ to Incentivize Subnet Usage The Avalanche Foundation has just announced a new incentives program that seeks to put subnets, a core trait of the Avalanche protocol, in the sights of developers. The organization has agreed to put up to $290 million (4 million AVAX) toward bringing applications to create their own native subnets in the Avalanche ecosystem. Subnets are deployments that allow developers to define rules that can vary from the rule of the Primary Avalanche blockchain. These are flexible enough to be configured to only be validated by a group of nodes and to follow specific rules, like Polkadot’s Parachains or Cosmos’ Zones. For this purpose, the Avalanche Foundation is focusing on getting blockchain-enabled gaming, NFTs, and decentralized finance use cases onboarded first. Defi Kingdoms, a blockchain-based game with its own token, will be the first to adopt this technology, bringing its operations and a new token called Crystal to its own subnet, called appchain. The project will receive incentives of up to $15 million in AVAX and CRYSTAL. The institution has yet to define the specifics of this allocation. On the reasons to use Avalanche subnets, Frisky Fox, executive director of Defi Kingdoms stated: We began looking very early on for technology that could help us scale and introduce new features like using our native tokens for gas fees, without sacrificing security or decentralization. Avalanche’s revolutionary subnet technology is the perfect fit. Decentralized Finance Also a Priority for Avalanche Foundation Ava Labs, another core company of the Avalanche ecosystem, will partner with a number of decentralized finance protocols including Aave, Golden Tree Asset Management, Wintermute, Jump Crypto, Valkyrie, and Securitize. This collaboration aims to produce a common subnet that includes native KYC functions, that would allow these organizations to share customer data between them. The native KYC technology will be provided by Securitize, with the promoters of the idea believing it could be a pivotal change to bring institutions to the defi space due to the additional compliance measures. On this, Wes Cowan, managing director of defi at Valkyrie, stated: Avalanche’s subnet with KYC infrastructure, will be a massive step forward for institutional adoption and we are proud to support the implementation. The Multiverse program will be divided into six phases to accommodate more participants in the future. The Avalanche Foundation has presented other, similar incentive programs before, like Avalanche Blizzard and Rush, which were focused on bringing new tech into the chain and including several defi blue chips, respectively. What do you think about the Multiverse Avalanche subnet incentives program? Tell us in the comments section below. View the full article

PRESS RELEASE. Recently, blockchain payments startup Basqet announced the launch of its cryptocurrency payments gateway which will allow businesses to accept Bitcoin and other cryptocurrencies as payment. Basqet said it is launching a public beta and will be going live with 118 businesses already signed up to start accepting payments in Bitcoin and several other cryptocurrencies. Prior to the launch of its beta launch, the team at Basqet also revealed that they had done about $1.3 million dollars in transactions with a handful of businesses. According to Bunmi Eleshin, Senior Product Manager at Basqet “we are creating a missing link between people who hold cryptocurrency and businesses who want to accept crypto as a means of payment. And we are doing it without merchants having to experience a loss due to crypto’s price volatility”. Since Bitcoin entered mainstream media there has been a lot of discussion about crypto being the evolution of money, and Basqet could take crypto adoption steps ahead as people will be able to shop and pay for services using crypto besides using it for speculation. Although one of the biggest concerns around crypto payments is the rapid price fluctuation that crypto is known for. According to Basqet, they resolve this is by allowing merchants to accept crypto as payment and get settled in US dollars, crypto, and over 5 other local African currencies without experiencing any volatility from cryptocurrency. So when a merchant is selling a product for $20 they will always receive the equivalent value in the currency they choose regardless of crypto’s price volatility. Cryptocurrency payment gateways like Basqet are similar to the likes of Stripe in the US as well as Flutterwave and Paystack in Africa but for crypto. They have the potential of enabling freelancers, business owners, non-governmental organizations (NGOs) and fintech to accept different cryptos as donations, payments or deposits in over 120 countries. Also, they could help cut regular transaction fees by more than 60% with zero chargebacks. The team at Basqet also stated that for its beta-launch merchants will be able to accept cryptos including; USDT, Bitcoin, Ethereum and Litecoin with several more to be added over the next few weeks. Merchants that sign up for Basqet’s beta launch will have 3 ways to accept crypto; payment link, payment button, and Basqet API. In its press release, Basqet mentioned that without a website businesses can use the payment link to accept crypto payment. Adding that it only takes 10 minutes for a business to sign up generate a payment link and send it via WhatsApp, Instagram or any other channel to their customer. About Basqet Basqet is a fintech that is revolutionizing payments using blockchain technology. They provide African businesses with a cryptocurrency payment gateway that enables them to accept cryptocurrency payments and get settled in US Dollars and their local currency. 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 United Arab Emirates (UAE) is getting closer to issuing a regulatory and supervisory framework that will govern the country’s virtual asset industry, the Securities and Commodities Authority (SCA) has said. FATF Recommendations A UAE securities regulator, the SCA has said it is getting closer to “issuing the regulatory and supervisory framework related to virtual assets issued for investment purposes.” In addition, the regulator revealed in a statement that it had consulted the “concerned authorities” during the development of the regulatory framework that addresses the risks of money laundering and terrorist financing that relate “to virtual assets and virtual asset service providers.” Such consultations have been concluded the statement adds. The regulator meanwhile said the development of this framework had been done in order to ensure the country’s crypto industry adheres to the Financial Action Task Force (FATF)’s recommendations. As a result, licensed exchanges “can apply for a license for virtual assets exchange subject to the approval and complying to all regulations and procedures of the Authority.” This rule, however, excludes applicants from the two financial free zones, the Abu Dhabi Global Market (ADGM) and the Dubai International Financial Centre (DIFC). Complying With Anti-Money Laundering Controls Meanwhile, the statement also clarifies that persons intending to run a virtual asset service provider (VASP) business must obtain the initial approval from the SCA. Furthermore, the SCA said VASPs that have commercial licenses and are providing any virtual asset services, need “to apply to the Authority to obtain the necessary license to practice such activity.” These persons are also required to “confirm” their obligation to comply with all legislation related to anti-money laundering controls, added the statement. The SCA said while it looks forward to the cooperation and participation of all entities, it warned that breaching the aforementioned regulatory and supervisory framework will result in the authority taking the appropriate legal and supervisory actions. What are your thoughts on this story? Tell us what you think in the comments section below. View the full article

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has made some gloomy predictions about the economy and the future of cryptocurrency. Besides warning that we are in the biggest bubble in world history, Kiyosaki has predicted that the government will seize all cryptocurrencies. Robert Kiyosaki Warns of the Biggest Bubble, Depression, Hyperinflation The author of Rich Dad Poor Dad, Robert Kiyosaki, has made several gloomy predictions and bleak warnings over the past couple of days. 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. On Tuesday, he tweeted to his 1.8 million followers, “Do you have a plan B?” The famous author proceeded to warn that we are in the biggest bubble in world history, citing bubbles in stocks, real estate, commodities, and oil. As far as the future outlook, he warned about hyperinflation and a depression. Kiyosaki tweeted: We are in biggest bubble in world history. Bubbles in stocks, real estate, commodities & oil … Future? possible depression with hyperinflation. He then explained that his plan B is to “be an entrepreneur.” Specifically, “stay out of [the] stock market, create own assets, [and] use debt as $,” he wrote. This is not the first time that the famous author warned about a depression. In December last year, he similarly predicted that a depression is coming. Kiyosaki often tweeted blaming President Joe Biden, his administration, and the Federal Reserve for high inflation and destroying the U.S. dollar. Last week, the Rich Dad Poor Dad author advised investors how to profit from inflation and invest like a capitalist. Kiyosaki Warns About Government Seizing All Cryptocurrencies, Absorbing Into ‘Fed Crypto’ Until Tuesday, Kiyosaki had been bullish on bitcoin. He often recommended buying gold, silver, and bitcoin as a hedge against inflation However, he tweeted Tuesday morning that he expects the U.S. government to seize all cryptocurrencies. He explained that after President Biden signed an executive order regulating cryptocurrencies, the next step would be to launch a “Fed crypto.” After that, he believes that all cryptocurrencies will be seized and folded into the government crypto. “Bye-bye bitcoin,” he wrote. Kiyosaki’s crypto prediction has been heavily criticized in the crypto community, with many people stressing that he should have waited to see what’s actually in the executive order before speculating recklessly on it. Many people think that President Biden’s executive order is very positive for the crypto industry. Jerry Brito, executive director of D.C.-based think tank Coin Center, commented: The message I take from this executive order is that the federal government sees cryptocurrency as a legitimate, serious, and important part of the economy and society. In addition, decentralized cryptocurrencies, like bitcoin and ether, cannot be frozen or seized directly within the network. U.S. Senator Ted Cruz recently described: “One of the reasons why I’m so bullish on bitcoin is because it is decentralized and not controllable.” What do you think about Robert Kiyosaki’s warnings? Let us know in the comments section below. View the full article

Many people in the crypto industry welcome President Joe Biden’s executive order on crypto. A crypto regulatory expert says, “It’s about as good as we could ask.” Another sees the order as the federal government viewing “cryptocurrency as a legitimate, serious, and important part of the economy and society.” Crypto Community Welcomes Biden’s Executive Order U.S. President Joe Biden signed an executive order (EO) Wednesday establishing a national policy for digital assets. The order is “the first-ever, whole-of-government approach to addressing the risks and harnessing the potential benefits of digital assets and their underlying technology,” the White House described. Noting that the order also calls on federal agencies to work together towards the country’s crypto policy, the Blockchain Association, which has 80 member companies, wrote: We welcome this approach and are ready to collaborate with agencies on behalf of the industry. Jerry Brito, executive director of D.C.-based think tank Coin Center, sees the executive order as “a good signal to serious people who’ve been holding back from getting involved.” He wrote: The message I take from this EO is that the federal government sees cryptocurrency as a legitimate, serious, and important part of the economy and society. Jake Chervinsky, a well-known lawyer in the crypto space, agreed with Brito’s assessment, emphasizing: “Despite a few loud voices in government relentlessly attacking crypto in recent months, the EO is balanced & constructive.” He continued: Anyone worried that President Biden’s executive order would spell doom & gloom for crypto can fully relax now. The main concern was that the EO might force rushed rulemaking or impose new & bad restrictions, but there’s nothing like that here. It’s about as good as we could ask. Anderson Kill Hailey Lennon said: “Seeing a digital asset EO happened a lot faster than I expected. Actually some really positive comments in it.” Core Scientific co-founder Darin Feinstein commented: “Bitcoin in the USA was de-risked by EO. The USA government endorsing innovation in and around Bitcoin is monumental. As capital continues to flow into this industry, it is up to the 50M USA bitcoin holders to make certain their representatives continue to protect this industry.” FTX CEO Sam Bankman-Fried called it: “A constructive EO to discuss customer protection and economic competitiveness in digital assets.” Coinbase’s Kathryn Haun said: “Today’s EO is a step in the right direction for some American leadership in web3 and could bring order to what’s become a sorely fragmented regulatory landscape. We’re especially encouraged it directs all agencies to partner [with] experts ‘outside’ govt as they work to define policy.” Crypto Is Not Going Away, ‘It Could Be a Turning Point’ Some people see the executive order as evidence that cryptocurrency is not going to go away. Binance CEO Changpeng Zhao (CZ), for example, tweeted: “I am guessing crypto is not going away.” Ripple CEO Brad Garlinghouse, who has been in an ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC) over the sale of XRP, opined: “Like many of you, I thought the Biden Admin’s EO would acknowledge crypto, but not detail specifics on next steps for regulation.” Garlinghouse continued, “However, I was pleasantly surprised & inspired by the EO acknowledging the *need* for evolution and alignment of the govt’s approach to crypto,” elaborating: First and foremost, this is an affirmation that crypto is here to stay … I don’t want to mistake activity for progress, but this does feel like it could be a turning point. Some People Are Skeptical While some people are skeptical about Biden’s executive order, they are glad that it does not contain anything more damaging to their businesses or the industry. Bitwage tweeted: “It doesn’t seem like there is anything damning in there, but we can’t help but feel suspicious. For the time being, we’re thankful that there were no serious regulations on companies like ours.” Bitcoin skeptic and goldbug Peter Schiff opined: “The relief rally in bitcoin based on Biden’s executive order on cryptocurrencies not being as onerous as it could have been won’t last. More regulation is coming that will only raise the cost and lessen the appeal of bitcoin.” He tweeted to his son that the EO is a sell signal. Chervinsky further noted: One potential impact of the crypto EO: it may slow down members of Congress working on new draft legislation, especially Democrats, who won’t want to contradict the national strategy that @POTUS just announced or front-run the study & report process that the EO kicked off. Do you think Biden’s crypto executive order is positive for the industry? Let us know in the comments section below. View the full article

The fractional investing company Public announced the acquisition of the digital collectibles and non-fungible token (NFT) technology startup Otis. Public’s co-CEO believes the acquisition will give Public the ability to provide people with the only place in the world “where people can invest in — and build a modern portfolio with — any fractional asset.” ‘Fractionalizing Any Asset’ — Social Investing Firm Public Acquires NFT Startup Otis On March 9, the investing company Public explained in a blog post that the firm has acquired the NFT auction platform Otis. Bitcoin.com News reported on Otis at the end of 2021, back when Otis revealed it was auctioning six physical assets. The physical items revealed that day included a 1993 Simpsons Matt Groening DeBart card, a mint condition 2003 Topps Chrome Lebron James Rookie card, a Pokémon Yellow Gameboy video game, Nintendo’s Super Mario Bros. 3, and a 1971 Bob Ross painting. Essentially, Otis takes an item valued at $5K or more, and then mints an NFT that represents the vaulted physical collectible. The owner of the physical item then gets the NFT and it can be traded and fractionalized. Public and its website public.com offers fractional investments as well, as the company provides users with fractional shares of stocks and exchange-traded funds (ETFs). Public has secured capital on several occasions including an initial seed round in 2018, a Series A through C, and the firm’s Series D fundraise in 2021 saw a $1.2 billion capital injection. “We’re excited to announce the acquisition of Otis, a pioneer in fractional investing in NFTs, art, and collectibles,” Leif Abraham, Public’s co-CEO said in a statement on Wednesday. “With Otis joining Public, the Public platform will soon be the only place in the world where people can invest in — and build a modern portfolio with — any fractional asset. That means NFTs, art, collectibles, real estate, crypto, funds, stocks, and more — all in one place.” Fractionalized Digital Collectibles See Significant Demand Over the Last year Fractionalized digital collectibles have become a hot topic in the last 12 months, and there are various projects dedicated to the concept. For instance, the protocol Unicly fractionalizes NFT collectibles via the use of a native token called utoken. At press time, dappradar.com metrics show the current market capitalization for fractionalized NFTs stands at $89.2 million today. The physically-back NFT platform Courtyard recently partnered with the asset protection firm Brink’s in order to store 1,000 graded Pokémon cards and then mint them into NFTs. A project called Fractional and another one dubbed Daofi offer fractionalized digital collectible products as well. Dappradar.com stats further indicate that the fractionalized Doge NFT (DOG) is the largest project of its kind in terms of market cap. What do you think about fractional investing company Public acquiring NFT startup Otis? Let us know what you think about this subject in the comments section below. View the full article

PRESS RELEASE. Hoo Smart Chain will open registration globally for the Cosmic Origin Project a grant and rewards program for decentralized application developers. The Cosmic Origin Project will provide incentives in forms such as, TVL Basic Rewards, Cross-chain Capital Hub Rewards, Game-fi/NFT Volume Bonus, and HOO Staking Bonuses in accordance to various project metrics. Providing sustainable support for developers. Hoo Smart Chain aims to build a visual blockchain and become a metaverse platform, and to embrace the potential of blockchains. Registration channels such as the official website, various posters (by scanning the QR code), Twitter will be open for public. Once the number of registered projects reaches 60, the Cosmic Origin Project will officially be triggered and will last 6 months. The first registered projects will be announced on March 15th. In accordance to project metrics, each project will have the opportunity to receive up to millions of USDT ecological support. Developers can go to the official website https://www.hoosmartchain.com to learn more about the Cosmic Origin Project, or click the form link to register directly http://hk.mikecrm.com/NtPoo5v. Developers are in also welcome to obtain, consult, and exchange development ideas at the official developer Telegram Group https://t.me/HooSmartChainDeveloperGroup. At the same time, Hoo Smart Chain will provide all qualified projects suitable amount of Gas fee support for testing and development. Hoo Smart Chain’s Cosmic Origin Project is committed to discovering decentralized applications in the all aspects of life, and hope to nurture the applications that can change the future. Registration will be unlimited, including but not limited to DEX , Lending, Yield aggregation, Derivatives, Synthetic assets, Stablecoin protocols, Insurance, NFT, GameFi, SocialFi, Metaverse, Layer 2 scaling solutions, LaunchPads, etc. Adhering to the concept of BreakthroughS and Innovation, Hoo Smart Chain mentioned the visual blockchain, metaverse platform and the imagination of positive sum game in their earlier AMA, and hope to return the value back to the participants of decentralized applications. Hoo Smart Chain aims to provide effective solutions and innovative development logic for the growth and improvement of the blockchain ecosystem. In line with the global announcement of Cosmic Origin Project, and through the continuous practice and breakthrough of ecological projects, it is expected that Hoo Smart Chain can forge a new direction for the blockchain industry together with developers around the world. Apply to Cosmic Origin Project: http://hk.mikecrm.com/NtPoo5v 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

PRESS RELEASE. Last week Africa founded cryptocurrency exchange, Quidax, announced that its crypto markets had been listed on CoinMarketCap, the world’s most-referenced price-tracking website for crypto assets in the rapidly growing cryptocurrency ecosystem. With this announcement, Quidax is the first fully African owned crypto exchange to be listed on CoinMarketCap. This listing represents a milestone for crypto in Africa. In an email to its customers, Quidax has stated that Blockchain is all about transparency, and we wanted to bring a little more of that into Quidax. So listing Quidax on CoinMarketCap is a great way for everyone to get reliable information on our offerings and also highlights the importance of Africa to the crypto ecosystem. Speaking on the listing, Uzo Awili, Quidax co-founder and Chief Technology Officer (CTO) “This is a proud moment for us as it allows us to provide reliable information on our crypto markets to the millions of people that rely on Coinmarket’s data.” Founded in May 2013 by Brandon Chez CoinMarketCap is one of the most trusted sources of cryptocurrencies. CMC as is often called is commonly cited by CNBC, Bloomberg, and other major news outlets. Its data is also used by the U.S. government and several other governments. Quidax is an African-founded cryptocurrency exchange that makes it easy for anyone to buy, sell, store, and transfer cryptocurrencies. In January Quidax announced a brand refresh along with the launch of a simpler and easier to use crypto app available on both the play store and app store. Since its launch in 2018, the exchange has achieved significant milestones including over $3.2 billion in transactions in less than 3 years of operation. Last month Quidax announced that it would be partnering with AltSchool Africa. The partnership covers sponsoring 100 students this year to learn tech skills including software engineering and product management. As well as a paid internship with Quidax for the best graduates. Social Media Links Twitter: https://twitter.com/QuidaxGlobal LinkedIn: https://linkedin.com/company/quidax Facebook: https://facebook.com/QuidaxGlobal Instagram: https://www.instagram.com/quidaxglobal QDX Community on Telegram: https://t.me/QDXToken Quidax Community on Telegram: https://t.me/QuidaxGlobal 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

Leading cryptocurrency exchange Binance has announced the launch of its own payments processing company, Bitfinity. Bitfinity will act as the default fiat-to-crypto payments ramp for the exchange, as well as for other blockchains. With this launch, Binance also targets the expanding Web3 economy, partnering with Paysafe and Checkout.com. Bitfinity Launches to Help Merchants Accept Crypto Binance, one of the largest exchanges by volume traded, recently announced the launch of Bitfinity, its own payments technology company. Bitfinity will become the de facto fiat-to-crypto payments processor of the exchange, supporting more than 50 currencies and all major payment methods, including Visa and Mastercard. This new processor also aims to make merchant onboarding easier, with merchants being able to use Bitfinity’s API to receive cryptocurrency-based payments directly. Binance stated that another objective is to present users with a more friendly system for crypto payments. On the launch of Bitfinity, Helen Hai, President of Bitfinity, stated: As the crypto and the Web3 economy continue to grow, we see greater demand to build improved fiat-to-crypto on-ramps to bridge the gap between the traditional finance industry and the decentralized and centralized crypto economy. Bitfinity is already partnering with a series of wallets and blockchain services to provide fiat-to-crypto payment processing services. Web3 Is the Target Binance wants to position Bitfinity as a strong contender in the Web3 payments economy, which the company believes will be powered by cryptocurrencies eventually. For this purpose, the newly created company has inked partnerships with Paysafe and Checkout.com, two established payments processors that are already lending their technology to make Bitfinity a better alternative. Max Rothman, VP of crypto at Checkout.com, stated: We expect global e-commerce to continue outpacing the growth of traditional commerce—especially with the adoption of cryptocurrencies and NFTs. We are lowering the barrier to entry for merchants to accept and make their first cryptocurrency transactions, enabling them to seize the great web3 opportunity that lies ahead. These partnerships will ostensibly give the company the ability to include fraud protection and enhanced regulatory compliance in its operations, allowing Bitfinity to offer white label services to other parties that include a digital wallet. In the future, Bitfinity will reportedly expand to Latam markets and will provide crypto cards in the U.K. and EU, integrating Paysafe’s services. What do you think about the launch of Bitfinity by Binance? Tell us in the comments section below. View the full article

Brandon Topham, the head of enforcement at South Africa’s financial sector regulator, has insisted that his organization has not issued warnings to some global exchanges because they deal in crypto. Rather, the warnings have been made because the exchanges are not registered to offer derivatives in the country. Exchanges Not Registered to Offer Derivative Products An official with the South African financial sector regulator, the Financial Sector Conduct Authority (FSCA), has said his organization has been targeting global cryptocurrency exchanges operating in the country because they “offer a derivative product with crypto as the underlying or reference asset.” As previously reported by Bitcoin.com News, the South African regulator has in the past issued public warnings against global crypto exchange platforms like FTX, Binance, and Bybit. In some cases, the regulator’s warnings have forced some crypto exchanges operating in the country to terminate certain services. While the FSCA insists that its warnings are designed to protect the public, some have speculated that global exchange platforms are being targeted because they deal with cryptocurrency. However, pushing back against this narrative, Brandon Topham, the head of enforcement at the FSCA, is quoted in a report suggesting that action is being taken because the exchanges are not registered to offer derivatives. He explained: We are looking at speaking with a number of over the counter derivative product [ODP] providers who are not registered with us. Upcoming Regulatory Regime The official reiterated that the FSCA is working to create a regulatory regime that would protect cryptocurrency investors. “We are looking at creating a regulatory environment for them to be registered in [order] to protect the customers and legitimate players from exploitation. This is currently underway,” explained the FSCA official. The official insisted that once the envisioned regulatory environment is in place, South Africa “will be one of the most progressive countries in the world at this stage.” On the other hand, Topham claimed that the regulator is not trying to stop the development of the crypto industry. Instead, the FSCA said it wants to enable the development of the industry but it “will not rush into this.” What are your thoughts on this story? Tell us what you think in the comments section below. View the full article

A new fundraising platform whose objective is to help to raise funds for Ukrainians and the Ukraine military recently claimed to have raised 2 million of the stablecoin tether. Some of the donated crypto assets have been sent to the Ukrainian army and to a humanitarian fund that finances volunteers. Ukraine’s Crypto Donations Whitepay, a fundraising platform that seeks to assist Ukrainian civilians and the country’s military forces, recently said it had raised 2 million USDT. According to a tweet posted by the fund on March 6, some of the USDT has since been transferred to the Ukrainian Army to cater to its medical needs. Some of the funds have been transferred to the humanitarian fund that finances the volunteers. The announcement by Whitepay, which was founded by the Estonian cryptocurrency exchange Whitebit and a Ukrainian fintech and crypto entrepreneur, Gleb Udovychenko, came as some reports said Ukraine had received cryptocurrency valued at $50 million in just one week. Reports of the fundraise also came as Russia’s invasion and the bombing of sites in Ukraine continued. In his comments on Telegram after Whitepay tweeted about its donation, Udovychenko, who is also the CEO of Whitepay, insisted the Ukrainians will continue until Russian forces leave the country. He said: Yes, I’m in Ukraine. Yes, it’s a real war here. People are fighting on the streets and are supporting each other. Our military and territorial defence will fight until all Russian invaders have left our country. Besides soliciting crypto donations on behalf of Ukrainian defense forces, Whitepay said in another tweet that it is raising funds to help the Ministry of Healthcare of Ukraine as well as the civilians that have been affected by hostilities. What are your thoughts about this story? Tell us what you think in the comments section below. View the full article

Cryptocurrency exchange Binance has fully resumed EUR and GBP deposits and withdrawals via the SEPA payment network and Faster Payments Services (FPS). Binance is also offering all verified users zero fees for depositing EUR via SEPA and GBP via FPS to “celebrate the return of SEPA and FPS.” SEPA and FPS Back on Binance Cryptocurrency exchange Binance announced Monday that at 11:00 a.m. UTC for both desktop and app: Binance and Paysafe will fully reopen EUR and GBP deposits and withdrawals respectively via the SEPA payment network (SEPA) and Faster Payments Services (FPS). “Binance retail users across Europe, with the exception of Netherlands and Switzerland, will be able to make EUR transfers directly via SEPA,” the exchange detailed. The announcement adds that to “celebrate the return of SEPA and FPS,” Binance is “offering all verified users zero fees for depositing EUR via SEPA and GBP via FPS” until March 31 at 11:59 p.m. UTC. Binance temporarily suspended EUR deposits via SEPA bank transfers in July last year. On Jan. 26, the exchange announced a partnership with Paysafe in order to bring back SEPA. The two companies launched a pilot program for EUR deposits and withdrawals via the SEPA payment network. Similarly, Binance suspended GBP withdrawals in July last year after the British financial regulator, the Financial Conduct Authority (FCA), issued a warning that Binance was not permitted to undertake any regulated activity in the U.K. Following the FCA’s warning, Binance’s payments solutions provider for GBP, Clear Junction, said it “will no longer be facilitating payments related to Binance.” The FCA subsequently said in August last year that Binance has complied with its requirements. However, the regulator noted that Binance “signed an undertaking that it would not offer any cryptoasset activities unless and until either it was registered or the authority informed the firm that it could avail itself of the transitional provisions in the MLRs [Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017].” What do you think about Binance resuming SEPA and FPS deposits and withdrawals? Let us know in the comments section below. View the full article

At the end of the trading day on Monday, Wall Street was roiled once again as major stocks plunged during the day’s trading sessions. Most news outlets indicate the Russia-Ukraine war is causing the bleak outlook and reports show strained financial conditions worldwide are currently the tightest since 2020. Meanwhile, bond markets during Monday’s trading sessions indicate increased inflationary pressures may be on the horizon. Global Investors Grow Concerned About Strained Financial Conditions Equities traders did not have a pleasant day during Monday’s trading sessions as the S&P 500, Nasdaq, NYSE, the Dow, and many other stocks plunged in value. The price shocks and economic fallout is no longer being blamed on Covid-19, as fingers are pointing at the ongoing Russia-Ukraine conflict in Europe. While reports say the military warfare has been brutal, economic sanctions are also taking a toll on the Russian economy. Moreover, economists have noted the sanctions are affecting other economies worldwide and this weekend, the International Monetary Fund (IMF) warned the “economic consequences are already very serious.” The massive rise in food and energy prices have caused an enormous tightening of financial conditions, along with the liquidity issues of de-platforming Russia. The 2/10’s swaps curve is at 15bps and will hit zero soon, showing how tight conditions really are. 1/ — Raoul Pal (@RaoulGMI) March 4, 2022 The IMF discussed how sanctions and warfare have added “extraordinary uncertainty” and the situation could cause inflationary pressures, supply chain disruptions, and price Shocks. Furthermore, on Monday, Reuters reported that the current financial conditions worldwide are the “tightest in two years.” The last major occurrence of a crisis situation affecting markets globally was on March 11, 2020, otherwise known as ‘Black Thursday.’ DZ Bank strategist Rene Albrecht explains if inflation rises and “if the central banks take their mandates seriously, you will see a further (tightening) in financial conditions.” Bond Market Volatility On March 6, Bitcoin.com News reported on the U.S. Treasury yield curve and how it was showing signs of a recession. Bond markets continue to reflect a harsh economy and added inflation of close to “2.79% over the next decade,” according to data from Monday morning’s trading sessions. Irrational price action in financial markets is always disconcerting to watch. We are seeing a lot of this right now in a wide range of markets… commodities and bonds in particular — Stephen Koukoulas (@TheKouk) March 7, 2022 Bond markets have experienced discontentment and extreme volatility during the last few weeks. On March 2, Ikigai Asset Management’s chief investment officer Travis Kling remarked the “last time bond market volatility was this high, the Fed cut rates 100 bps and did 3 trilly of QE in six weeks.” The secular bull market that began in 2009 was stoked by an aging population, slower labor-force growth and a corresponding secular decline in interest rates since the early 1980s. Investors ran out of yield in the bond market, extended their search for income to stocks. pic.twitter.com/7gBrlqK47m — Jurrien Timmer (@TimmerFidelity) March 7, 2022 In a March 7 note sent to Barron’s Alexandra Scaggs, Matthew Luzzetti and Deutsche Bank economists discussed the fear of long-lasting inflation and the irritability it may bring to the U.S. central bank. “In light of recent energy price moves in response to events in Ukraine…long-run inflation expectations could be at risk of moving to an uncomfortable level for Fed officials, especially given the backdrop of these other forces pointing to persistently elevated inflation,” the Deutsche Bank economists said in a statement. While stocks have been significantly down in value in recent times, the crypto economy has also felt the wrath of an uncertain and shaky economy. The crypto economy has shed more value since yesterday, dipping down to $1.78 trillion, losing 2.8% against the U.S. dollar in 24 hours. Gold, on the other hand, tapped $2K per ounce on Monday and is currently trading for $1,997 per ounce. Moreover, a barrel of crude oil jumped to $120.33 per barrel high on Monday as well. What do you think about the current events concerning the global economy? Do you think investors should worry about tightened financial conditions worldwide? Let us know what you think about this subject in the comments section below. View the full article

Apple co-founder Steve Wozniak says Bitcoin is “the only one that’s pure-gold mathematics.” He is skeptical of most other cryptocurrencies. In addition, Wozniak is a fan of the metaverse but is less enthusiastic about non-fungible tokens (NFTs). Apple’s Steve Wozniak Praises Bitcoin Apple co-founder Steve Wozniak talked about cryptocurrency in an interview with the Insider, published last week. He said: There’s so many cryptocurrencies that come out now. Everybody has a way to create a new one, and you have a celebrity star with it. It seems like they’re just collecting a bunch of money from people who want to invest at the very earliest stage, when it’s worth pennies. Wozniak also noted that some people buy cryptocurrencies because they are not aware of the potential windfalls. “Then they just fold,” he said. While he’s a fan of the metaverse, he’s less enthusiastic about non-fungible tokens (NFTs) and cryptocurrencies, the publication conveyed. He said that for the most part, they are “so up in the air,” stressing that they have a track record of being “rip-offs.” Wozniak has had first-hand experience battling crypto scams. In July 2020, he sued Youtube and Google for promoting bitcoin giveaway scams using his name and likeness. However, a judge ruled last year that “Youtube and its parent, Google LLC, are protected by the federal law that shields internet platforms from responsibility for content posted by users.” Bitcoin giveaway schemes continue to scam investors on various social media platforms. Wozniak is not the only one scammers like to feature. Tesla CEO Elon Musk, his company Spacex, Microsoft co-founder Bill Gates, Apple CEO Tim Cook, Berkshire Hathaway’s Warren Buffett, and many other celebrities have also been found in fake crypto giveaways. In February, the reality TV series Unicorn Hunters, which Wozniak is involved in, introduced its own cryptocurrency called unicoin. Unicorn Hunters features a group of investors called the “Circle of Money” and entrepreneurs who pitch their businesses in search of investment funds. Wozniak is one of the judges on the show. Unicoin provides holders with dividends and equity positions from the portfolio of startups that the show invests in. The Apple co-founder described: It’s really opening up the world of startup investment to the masses. Wozniak explained that unicoin is more conservative than most other cryptocurrencies because it is backed by professional investment decisions. “A token’s flaky on its own. It could even be worth zero,” Wozniak said. “I’m hoping unicoin’s very successful, but at least it’s not based on zero, just based on words and talk. It’s really based on the outcome of investments.” Regarding bitcoin, the Apple co-founder said the cryptocurrency is: [The] only one that’s pure-gold mathematics. This was not the first time Wozniak praised Bitcoin. In July last year, he said Bitcoin is a “mathematical miracle.” In October, he said that the largest crypto is “mathematical purity.” However, Wozniak is concerned that governments could disallow bitcoin and other cryptocurrencies. “The trouble is governments will never allow it to be out of their control. If it got to the point where everything is being done in crypto and didn’t pass through governments for observation and taxation and all that, governments would just disallow it. They wouldn’t give up their power,” he warned. What do you think about Steve Wozniak’s comments? Let us know in the comments section below. View the full article

Veteran investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, says that “what is happening with the U.S. dollar now is the end of the U.S. dollar.” He explained that “an international currency is supposed to be neutral but in Washington, they are now changing the rules,” emphasizing, “Washington does not play fair anymore.” Jim Rogers on the End of the U.S. Dollar Renowned investor Jim Rogers discussed the end of the U.S. dollar and the future outlook for cryptocurrency in an interview published by the Economic Times Sunday. Rogers is George Soros’ former business partner who co-founded the Quantum Fund and Soros Fund Management. He was asked about the outlook for the U.S. dollar and where he sees the dollar index headed. “I own U.S. dollars partly because when turmoil comes, people look for a safe haven. They think the U.S. dollar is a safe haven for historic reasons,” Rogers began. However, the veteran investor added: But what is happening with the U.S. dollar now is the end of the U.S. dollar because an international currency is supposed to be neutral but in Washington, they are now changing the rules. “Now if Washington does not like you, they put sanctions on you and you cannot use U.S. dollars,” he stressed. “So, many countries are starting to look for a competitor — China or Russia or India, Iran, Brazil … some countries are starting to look for a competing currency, and they should because Washington does not play fair anymore,” he continued. Since Russia began its invasion of Ukraine, the United States as well as a growing number of other countries have been placing sanctions on Russia. Russia has about 16% of its reserves in U.S. dollars and 32% in euros. As billionaire investor Bill Miller recently described: “They have almost 50% of their reserves in currencies that are controlled by people who want to do them harm.” Miller agrees with Rogers that other countries are starting to look for alternative currencies to the U.S. dollar. Rogers added: Of course, the U.S. is the largest debtor nation in the world. So, for fundamental reasons and political reasons, people are looking for competing currency. “I do not know what it will be yet. I hope I am smart enough to buy it when you find it. I do not like saying it. I am an American but I do not like to see what they are doing to the American dollar,” he opined. Jim Rogers Still Concerned Governments May Outlaw Bitcoin and Other Cryptocurrencies Rogers was also asked, “Can cryptos ever be an alternative to the U.S. dollar index?” He replied: “Well it could be. Many people have made a lot of money trading crypto.” He explained that crypto bulls say that cryptocurrency will be the new money. “I know that every country in the world is working on computer money now, including the U.S.,” he pointed out. However, he said that the U.S. will not say it is new money. Regarding cryptocurrency, he noted that “Governments like control” and “Governments like monopoly.” The veteran investor elaborated: I do not like it but that is the way governments are, and I just suspect that they will either tax it or regulate it or outlaw it or something because they do not want to lose control. Rogers has warned that governments could ban cryptocurrencies on several occasions. He said it is the reason he did not invest in bitcoin. However, in May last year, he said he regretted not investing in BTC. What do you think about Jim Rogers’ comments? Let us know in the comments section below. View the full article

While the decentralized finance (defi) platform Anchor Protocol’s native digital asset ANC has gained more than 180% over the last month, the total value locked (TVL) in Anchor has increased a great deal during that time as well. Anchor Protocol is currently the second-largest defi lending platform in terms of TVL, and over the last month, Anchor’s TVL has increased by 40.13%. Anchor TVL Surges More Than 40% in 30 Days, Protocol’s TVL Rivals Aave’s Lead The Terra-based token anchor protocol (ANC) has increased in value significantly against the U.S. dollar during the last month. At the time of writing, 14-day metrics show ANC has gained 82.7%, and 30-day stats indicate ANC is up 182.4%. Anchor is a lending protocol built with the Terra blockchain network, and it gathers liquidity from lenders and borrowers. Moreover, lenders depositing the stablecoin terrausd (UST) gather a stabilized yield at close to 20% APY. In order to gather yield, Anchor uses a liquid-staking mechanism. Anchor and Orion Money also offer Ethanchor, which allows depositors to gather yield on Ethereum-based stablecoins in contrast to Anchor’s UST functionality. Currently, Anchor is the sixth-largest defi application today, out of all the defi applications in existence according to defillama.com metrics. Anchor’s TVL has increased 5.55% over the last week, but monthly statistics indicate the protocol’s TVL jumped 40.13% since last month. Much of Anchor’s TVL increase to $11.5 billion occurred during the last 30 days. In terms of the 124 lending applications, Anchor is now the second-largest defi lending protocol under Aave. The lending protocol Aave is just a hair above Anchor as Aave currently has a TVL of around $11.6 billion. Below Anchor, in terms of lending defi apps by TVL, include protocols like Compound ($6.48B), Justlend ($1.86B), Venus ($1.62B), Banqi ($1.11B), and Iron Bank ($1.06B) respectively. Anchor metrics also show there is $2.46 billion borrowed by borrowers today and people in debt have to leverage bonded LUNA or bonded ETH for collateral. Anchor’s documentation says that the defi lending protocol has three audits. One audit published by Cryptonics goes over Anchor’s smart contracts and another audit by Cryptonics reviews Anchor’s distribution of ANC and smart contracts. Furthermore, last July an Anchor audit report was published by the team at Solidified. What do you think about Anchor moving up the ladder to the second-largest defi lending application today? Let us know what you think about this subject in the comments section below. View the full article

Bitcoin.com releases Bitcoin Rocket — an extremely fun exclusive slot game playable only on games.bitcoin.com! 🚀New high-octane slot game with amazing visuals and retro music🚀 Bitcoin’s rocket to the moon is the single most identifiable meme in the cryptocurrency universe. So, it was only natural that our very own premium gaming portal Bitcoin.com Games would release a title that embodies this meme. Bitcoin Rocket – the newest exclusive slot game from the casino, promises an engaging experience for crypto enthusiasts and guarantees a level of thrill never before felt in the realm of online casinos. The Bitcoin Rocket slot enacts the possibility of Bitcoin going to the proverbial moon with elements such as an astronaut representing a crypto ‘hodler’, the rocket itself as a vehicle of price gain, and the moon acting as the target price speculated by the crypto holding astronaut. The game also features its own Progressive Jackpot which often gets very big, very fast – currently worth 25 BTC, as it grows with each bet any player makes on the slot. Bitcoin Rocket has a progressive jackpot that is currently worth 25 BTC! Bitcoin.com Games has also launched 4 weekly tournaments with a total prize pool of $8,000 to reward players who bet the most on Bitcoin Rocket during the promotional period. At the end of the promotion, a $2,000 raffle will dish out cash prizes to 10 lucky players who were successful in securing a position on any of the 4 weekly leaderboards. The launch of this newest exclusive slot game by Bitcoin.com presents an excitingly rewarding opportunity for you to play Bitcoin Rocket to your heart’s content. A total of 50 players are set to receive cash prizes throughout the duration of the promotion, and you could easily be one of them to secure a lion’s share of the $10,000 cash loot! Bitcoin.com Games has been growing in popularity ever since its inception earlier in 2016. The premium gaming platform offers high-quality games combined with a smooth user experience and has quickly become one of the most popular crypto casinos to gamble on with BTC & BCH. The Bitcoin Rocket slot game is now available to play exclusively on Bitcoin.com Games. What do you think about the Bitcoin Rocket slot game? Have you visited Bitcoin.com Games recently? Let us know what you think about this subject in the comments section below. View the full article

The chief executives of two major cryptocurrency exchanges, Binance and Coinbase, do not believe that cryptocurrency is an effective tool to help Russia evade Western sanctions. CEOs of Binance and Coinbase Say Crypto Not Useful at Evading Sanctions Since Russia began its invasion of Ukraine, governments worldwide have raised concerns that cryptocurrency could be used to circumvent sanctions placed by Western nations. The CEOs of two leading cryptocurrency exchanges have shared their thoughts on whether crypto can be an effective tool to circumvent sanctions. Binance CEO Changpeng Zhao (CZ) was quoted by the Guardian as saying: Currently, the media and politicians are spending a lot of effort and focus on crypto and sanctions. The truth is, crypto is too small for Russia. “If we look at the crypto adoption today, there is probably about 3% of the global population with some kind of crypto exposure (ie, owning some crypto),” Zhao continued. “Of those, most only have a small percentage of their net worth in crypto. Less than 10% on average. So, there is probably only less than 0.3% of the global net worth in crypto today. This percentage applies equally to Russia.” The Binance boss added: Another reason Russia would not want to use crypto is that it is too traceable. And governments around the world are already very adept at tracking it. Furthermore, Zhao said using privacy-focused cryptocurrencies, such as monero, would not work either because the market capitalization of XMR is $3 billion compared with Russia’s GDP of $1.5 trillion. Citing that every crypto transaction can be scrutinized by anyone, the Binance CEO stressed that crypto assets are “not an effective tool for illicit activities.” Coinbase CEO Brian Armstrong shares a similar sentiment. He tweeted Friday: We don’t think there’s a high risk of Russian oligarchs using crypto to avoid sanctions. Because it is an open ledger, trying to sneak lots of money through crypto would be more traceable than using U.S. dollars cash, art, gold, or other assets. Meanwhile, the G7 countries, the European Union, and several other nations worldwide are taking measures to prevent Russia from using cryptocurrency to evade sanctions. The U.S. Treasury Department issued a report last year stating that crypto reduces the efficacy of U.S. sanctions. The department is currently monitoring Russian efforts to evade sanctions using cryptocurrency. Do you think cryptocurrency can help Russia evade sanctions? Let us know in the comments section below. View the full article

A finance professor at the Wharton School of the University of Pennsylvania has warned of “bitcoin taking over.” He added that the Fed “has been terribly wrong over the last year” about inflation and must now act to defend the U.S. dollar. Finance Professor Urges the Fed to Take Action to Defend the U.S. Dollar Wharton’s finance professor Jeremy Siegel shared his view on inflation, “bitcoin taking over,” and the need for the Federal Reserve to defend the U.S. dollar in an interview with CNBC Friday. Siegel is Russell E. Palmer Professor Emeritus of Finance at Wharton School, University of Pennsylvania. His research focuses on demographics, financial markets, long-run asset returns, and macroeconomics. Commenting on Federal Reserve Chairman Jerome Powell indicating last week that the first rate hike will be in March and will likely be 25 basis points, Siegel criticized that the Fed is already behind and should be making a more aggressive move. “They’re going to have to do much more than that … I’m actually disappointed that Chairman Powell did not look at the history that this is not a time for us to slow down,” the Wharton finance professor stressed, elaborating: The Fed has been terribly wrong over the last year. I mean, all this temporary inflation. Look at the protection they did for inflation last year — so way below what actually happened all the way to December. He said last week that it would be a “big policy mistake” for the Fed to slow down interest rate hikes because of the situation in Ukraine. While stating that “Jay Powell is a very good man” and “a good communicator,” Professor Siegel stressed: “The Fed has been very wrong and they are going to have to catch up and they really have to admit they’ve got to bite the bullet here.” Regarding bitcoin, he urged the Federal Reserve to take action to defend the U.S. dollar, emphasizing: We talk about bitcoin taking over. We’ve got to defend the dollar. The professor has been noting the rise in popularity of bitcoin for quite some time. In January, he said that BTC has replaced gold as an inflation hedge for millennials. He also warned that the Federal Reserve is “so far behind the curve that we have a lot of inflation that is embedded in,” predicting that “The Fed is going to have to hike many more times than what the market expects.” What do you think about Professor Siegel’s comments? Let us know in the comments section below. View the full article

The founder of Skybridge Capital has doubled down on his $100K bitcoin price prediction. He also believes that bitcoin could reach $500K a coin in the long run. “But we’ve got some work to do here from a regulatory perspective,” he stressed. The executive also advised how an average investor should get into bitcoin. Skybridge Capital’s Founder on Bitcoin Price The founder of investment management firm Skybridge Capital, Anthony Scaramucci, talked about the future outlook for bitcoin Friday in an interview with Melissa Francis on Magnifi by TIFIN. Scaramucci expected the price of BTC to reach $100,000 by the end of last year. However, he admitted that he “did not assess the regulatory environment appropriately” after the U.S. Securities and Exchange Commission (SEC) approved bitcoin futures exchange-traded funds (ETFs). “I thought once you had the bitcoin futures [ETFs], you’d end up with the cash pretty immediately. Too much political headwind for that,” he explained. Instead, BTC got corrected down to the $40,000 level from its all-time high of $68,892 based on data from Bitcoin.com Markets. Nonetheless, the Skybridge Capital founder believes that the price of bitcoin could reach $100,000 this year. He opined: Could it get there this year? Yes. Is it likely to get there over two years? I’m very confident of that. But we’ve got some work to do here from a regulatory perspective. “We got to get the markets to calm down a little bit. We’ve got to get through Covid. But it’s not going anywhere,” he stressed. How an Average Investor Should Get Into Bitcoin The Skybridge Capital founder was also asked what he would do if he were an average investor who has not invested in crypto. “I would buy some,” he promptly replied. However, he added, “I would average in.” While cautioning that there will be volatility, Scaramucci noted: The only way you can handle technology like this is to dollar-cost average and buy a little every month. Regarding what percentage of a paycheck an average investor should put into bitcoin, Scaramucci advised: “I would pick a number that you are comfortable with and buy a little every month.” He recommends putting between 1% and 4%. “I put 4% of Skybridge money into bitcoin,” he shared. “I started off with a 4% cost position … If you talked to me at the peak, it ended up being 22%,” he detailed, adding that it then “traded down to about a 15% position.” He continued: “I think you’ve got to be part of that. I think it would be a mistake to be under-invested or zero-invested in blockchain and cryptocurrency.” $500K per Bitcoin Scaramucci also commented on how high the price of bitcoin could reach long term, reiterating his previous prediction that BTC could reach $500,000 a coin. Noting that “This is early adopting technology,” the Skybridge Capital executive warned: “This will be very volatile. There’ll be periods of time where bitcoin will crash, down 50 plus percent.” Nonetheless, he emphasized: But if you’re willing to zoom out and look at the long term chart and look at the adoption story, could bitcoin get to a half a million dollars a coin? I believe it will. Scaramucci has been bullish on bitcoin for quite some time. In November last year, he encouraged investors to start buying BTC, stating: “This is very, very early for people … I’m trying to do my best to explain to them why they need to own this right now.” What do you think about Scaramucci’s advice? Let us know in the comments section below. View the full article