roadrunner

Following a strong start to the week, crypto markets are submerged under a red wave as we head into the weekend. Bitcoin and ethereum are both lower, giving up some of this week’s gains in the process. Bitcoin Bitcoin followed up Thursday’s volatile session with even more uncertainty today, as the world’s largest cryptocurrency was once again falling. Following a rise to $45,101.17 yesterday, BTC/USD fell to an intraday low of $42,864.32 earlier in today’s session, as it appeared that bears were pushing prices towards support. The selloff started after resistance of $44,750 was held during yesterday’s session, with bears piling in, in order to short bitcoin. This comes as the 14-day Relative Strength Index (RSI) has flatlined, and is currently tracking at 60, which is still overbought. Some believe with price strength uncertain, BTC/USD could go either way, depending on how momentum begins to mature. As constructed, the short-term ten-day (red) moving average still looks to be bullish, helped by the current ascending triangle which has formed in recent weeks. Bulls will now likely wait to see if this will be enough to inspire fellow buyers to re-enter. Ethereum Ethereum is trading close to 5% lower as of writing, as the world’s second largest cryptocurrency looks set for consolidation. ETH/USD fell to an intraday low of $3,018.56 on Friday, which is the lowest price ETH has hit this week. This selloff from resistance of $3,285 pushed ethereum marginally below its recent support level of $3,022, however, the move appears to be a false break. Recent momentum shows that prices are hitting a streak of higher highs, as seen by the ascending triangle, however a wall seems to have been hit, stopping further progression.. Could bulls use today’s low as a chance to “buy the dip”? Leave your thoughts in the comments below. View the full article

University students in Russia minting digital currencies in their dormitories risk penalties and even criminal charges, according to a legal expert quoted by local media. The warning comes as Russian authorities are trying to curb crypto mining with cheap energy in residential areas. Mining May Turn Into Risky Undertaking for Russian Students As more and more Russians are setting up improvised crypto farms in places with access to subsidized electricity, like their homes, students have been warned that mining digital coins in the dorm can be treated as a criminal violation of the law. At the very least, universities will demand that they pay the excess power consumption, Vladimir Shelupakhin from the Gorgadze and Partners legal firm told the RIA Novosti news agency. In some cases, however, the amateur miners may be prosecuted for crimes, he added. Mining can cause significant material damages, the report notes. If a university pays a higher electricity bill, it may seek compensation from the students that have been caught minting cryptocurrency, the lawyer elaborated. But if the miners refuse to cover these expenses, they may eventually pay with their freedom, Shelupakhin warned. “If it isn’t possible to identify the miners, then it is necessary to report to the police. And in this case, the violators will bear criminal liability under article 165 of the Criminal Code (Causing property damage by deceit or breach of trust),” the legal expert specified. Crypto mining in Russia is not only a profitable business for companies but has become an alternative income source for many ordinary Russians as well. Household electricity in the country is subsidized and much cheaper than the power sold to companies, especially in energy-rich regions. Consumption by the population in Irkutsk, where electricity rates start at just $0.01 per kWh in rural areas, has increased four times in 2021 and authorities believe the spike is due to mining hardware running in basements and garages. Miners have been blamed for breakdowns and outages. In an effort to deal with the issue, members of the parliamentary Energy Committee have recently suggested to the federal government a set of measures aimed at curbing home mining. The move comes after the Russian association of energy suppliers sent similar proposals to the State Duma, the lower house of parliament. The lawmakers want utilities to be allowed to disconnect illegal miners from the grid and consumers required to declare the intended use of the electrical energy. They also insist that internet providers should be obliged to share with authorities the IP addresses of suspected miners and data about their mining activity. Do you expect Russia to crack down on home crypto miners? Share your thoughts on the subject in the comments section below. View the full article

Krafton, the parent company of Bluehole, developers of PUBG, a popular battle royale game that has earned more than $300 million in 2021, announced it will redirect some of its activities toward developing NFT and metaverse-related projects. The company says it has acquired equity in two companies, Seoul Auction Blue and Xbyblue, that will enable Krafton to offer non-fungible tokens (NFTs) related to its intellectual property (IP). The company also partnered with Naver Z for this same purpose. Krafton Goes NFT Krafton, the parent company of Bluehole, developer of the widely successful PUBG game, which registered revenue of more than $300 million last year, is pivoting to compete in the world of metaverse and NFT projects. The company announced on February 8th it had acquired equity in two companies: Seoul Auction Blue ($2.5 million) and Xbyblue ($4.1 million). Seoul Auction Blue is a company that runs a joint art purchasing platform called Sotwo, and Xbyblue uses technology to secure and curate digital art IP to be offered in digital markets. Having partnered with these two companies, Krafton will be able to offer NFT avatars and other products based on its PUBG Battlegrounds franchise, which went free-to-play last year. About this partnership and the new focus, CH Kim, CEO of Krafton, stated: Through partnerships with innovative companies like Seoul [Auction] Blue, we’re confident we can combine our research and our partner’s expertise to offer new experiences that global users will find fun and engaging. In addition, the company also revealed a third deal with Naver Z, aiming to build a joint Web3 and NFT-based platform. Naver Z owns Zepeto, a four-year-old platform that runs a metaverse-based project allowing players to communicate through 3D avatars using augmented reality technology. The still-unnamed metaverse experience will be created using Naver Z’s technology and platform, and will leverage the experience of Krafton to craft the assets of this world. According to the press release, this development will also include the possibility of users creating their own content on the platform. More Companies Are Taking NFTs Seriously Krafton is the latest in a sea of AAA traditional game companies considering including NFTs and the concept of metaverse in their business models. Ubisoft is also dabbling in the field, recently signing a partnership with The Sandbox to bring one of its IPs, the Rabbids, to its metaverse. Grayscale, the digital asset company, also issued a report last November stating that the metaverse was a $1 trillion opportunity. What do you think about Krafton pivoting to metaverse and NTF-related projects? Tell us in the comments section below. View the full article

Following a slew of well known brands filing trademarks for metaverse related products and virtual goods, the American fast food firm founded in 1940, McDonald’s, has filed for ten trademark applications that describe plans to offer virtual restaurants and other digital-based products. 10 McDonald’s Trademark Filings Discovered Mention Digital-Based Products Like Food and Beverages, Operable Virtual Restaurants McDonald’s, home of the Happy Meal and the world’s largest restaurant chain by revenue, has filed for ten trademark applications, according to a recent tweet stemming from the trademark attorney Josh Gerben. The filings recorded with the United States Patent and Trademark Office (USPTO) describe how McDonald’s plans to create “a virtual restaurant featuring actual and virtual goods.” McDonald's is headed to the metaverse. The company has filed 10 (TEN!) trademark applications indicating it plans to offer "a virtual restaurant featuring actual and virtual goods" and "operating a virtual restaurant featuring home delivery."#Mcdonalds #Metaverse pic.twitter.com/J9pK7EK9nl — Josh Gerben (@JoshGerben) February 9, 2022 McDonald’s digital goods would include “virtual food and beverage products,” alongside “entertainment services” and “virtual concerts.” McDonald’s-themed metaverse worlds could feature a restaurant users can operate and order home delivery from the application as well.Responding to Gerben’s tweet, one individual said the move was “pretty cutting edge.” “We know there will be virtual stores in the metaverse where [people] can come in [and] buy items. I never thought of a restaurant doing the same thing,” the individual added. Furthermore, the move by the fast food restaurant giant is not the first time McDonald’s has shown interest in the digital world. On November 1, 2021, to celebrate the 40th anniversary of the cult-classic sandwich, the McRib, McDonald’s minted a limited number of McRib non-fungible tokens (NFTs). “With the McRib NFT, you’ll never again have to say goodbye to the sandwich you love. Whether you score one or not, be sure to treat yourself to the legendary tangy BBQ flavor of the McRib, once it hits participating restaurants nationwide,” the company’s press release said at the time. In addition to McDonald’s recently filing virtual goods trademarks, the chain Panera Bread filed trademark applications last week, according to Gerben’s findings. Crocs, New Balance, and Puma have all filed for USPTO trademark applications that describe virtual worlds and goods in recent times as well. This year, the American multinational retail corporation that operates a chain of department stores, Walmart, registered USPTO trademark filings that hinted at the company’s intent to produce metaverse and NFT concepts. What do you think about McDonald’s ten trademark filings that describe virtual fast food restaurants? Let us know what you think about this subject in the comments section below. View the full article

The American firm that produces Bazooka chewing gum, candy, and collectibles, Topps has announced the company is planning to auction one of the rarest baseball cards on earth in NFT form — Topps 1952 Mickey Mantle card. The Topps 1 of 1 “Timeless Collectible” will be issued as a non-fungible token (NFT) and sold on the NFT marketplace Opensea on March 1, 2022. Topps Announces 1952 Mickey Mantle NFT Card Auction via Opensea, Physical Card With a PSA 9 Score Is Worth $5.2 Million Topps has announced the minting of one of the rarest baseball cards in the world as the company has revealed it plans to auction the digital collectible on March 1st through the 4th, next month. According to the Topps website, the firm is auctioning the Topps 1952 Mickey Mantle card which is a highly sought after collectible in the real world. The physical card has an estimated worth of around $5.2 million as the card was purchased for that price by the entrepreneur and actor Rob Gough last year. According to Beckett’s sources, the card Gough purchased is one of six cards that have a grade of Mint PSA 9. Topps says the “Timeless Collectible” sale is backed by Major League Baseball (MLB) and Mickey Mantle’s estate. “Deep within the annals of just a few prized collections comes a coveted vintage relic transformed for the Digital Age,” Topps says. The candy and collectibles company further added: As the Topps 1952 Mickey Mantle Card continues to be one of the world’s most rare collectibles, fans will now have the opportunity to cement Mantle’s legacy on the Ethereum blockchain. In partnership with the Mantle Estate and Major League Baseball, Topps Timeless is honored to bring you the first ever licensed MLB NFT to be auctioned on Opensea. Fanatics Acquires Topps for $500 Million, Mickey Mantle NFT Card Owner Will Be Given the Opportunity to Meet Mantle’s Sons Topps has been dropping a lot of non-fungible technology (NFT)-based products during the last year. The company has worked with the Wax Blockchain, Avalanche (AVAX), and a myriad of different collections. In February 2021, people could acquire Garbage Pail Kids (GPK) cards at select Target and Walmart stores and get NFTs in the physical packs. Topps has released MLB collections and NFTs featuring the science-fiction themed Mars Attacks cards. During the first week of January, the sports retail giant Fanatics announced it acquired Topps for $500 million. According to Topps, there will be only one 1952 Mickey Mantle card NFT made and it will be minted on the Ethereum blockchain in order to be auctioned on Opensea. “Be the one to bring home this rare NFT by placing a bid on OpenSea and add this monumental piece of sports history to your collection,” the Topps website details. Furthermore, Topps discloses that the winner of the auction will be able to have a 30-minute interview with Mickey Mantle’s sons, Danny and David Mantle. What do you think about Topps auctioning a 1952 Mickey Mantle NFT card? Let us know what you think about this subject in the comments section below. View the full article

Reports indicate that the world’s largest cryptocurrency exchange by trade volume, Binance, has announced the crypto company has committed to investing $200 million into the American business magazine Forbes. The digital currency company Binance confirmed the $200 million stake into Forbes on the social media platform Twitter. Binance Pledges $200 Million to Forbes Binance has made a $200 million investment into Forbes, the U.S.-based business magazine and digital publisher owned by the Forbes family and Integrated Whale Media Investments. A report published by CNBC, and shared by Binance on Twitter, explains that the investment “is the first step into a marketplace that has really high potential when it comes to adoption of Web 3.0 based tools” Forbes has plans to go public via a special purpose acquisition company (SPAC) deal with Magnum Opus. “Binance’s strategic investment will be through Binance’s assumption of subscription agreements representing $200 million of commitments in the $400 million private investment in public equity (PIPE) that was previously announced along with Forbes’ intention to go public via a business combination with Magnum Opus,” Forbes detailed on Thursday. The American business magazine and digital publisher added: The transactions with Magnum Opus and Binance are expected to help Forbes maximize its brand and enterprise values and use its proprietary technology stack and analytics to convert readers into long-term, engaged customers of the platform, including through memberships and recurring subscriptions to premium content and highly targeted product offerings. Binance CEO Changpeng ‘CZ’ Zhao: ‘We Look Forward to Bolstering Forbes’ Digital Initiatives’ The CEO of Forbes, Mike Federle, mentioned that when it comes to blockchain technology and the up and coming digital assets industry, Binance has been successful. “With Binance’s investment in Forbes, we now have the experience, network and resources of the world’s leading crypto exchange and one of the world’s most successful blockchain innovators,” Federle said. “Forbes, already a resource for people interested in the emerging world of digital assets, can become a true leader in the field with their help.” According to statistics from Coingecko.com’s top spot exchange rankings and top derivatives exchanges, Binance is the leader of both categories. Metrics on Thursday indicate Binance’s 24-hour volume, in terms of crypto derivatives, is $75.2 billion. $20.7 billion in 24 hour crypto spot market trades were settled on Binance during the last day. Furthermore, Binance owns the popular cryptocurrency price aggregation and market capitalization web portal coinmarketcap.com. Changpeng ‘CZ’ Zhao, the founder of Binance believes its partnership with Forbes will promote Forbes’ Digital initiatives. “As Web3 and blockchain technologies move forward and the crypto market comes of age we know that media is an essential element to build widespread consumer understanding and education. We look forward to bolstering Forbes’ Digital initiatives, as they evolve into a next level investment insights platform,” the founder of Binance explained during the announcement on Thursday. What do you think about Binance investing $200 million into the American business magazine and digital publisher Forbes? Let us know what you think about this subject in the comments section below. View the full article

PRESS RELEASE. For many pet owners, owning a pet is akin to having a child. They consider the pets as family members, and these family members deserve to be entertained and pampered. Global Pets World Holdings, a wholly owned subsidiary of WisdomCome Group, in collaboration with Ammbr Group, will be launching the world’s first global pets theme park welcoming pets of all descriptions, along with their owners and other pet lovers. The concept is a novel yet classic theme park and membership club concept that leverages Distributed Ledger Technology to scale customer engagement, raise funding, and operate club memberships, rewards, access control and internal club payments. With over 50% of global households owning pets, and the market valued at over US $220 Billion, the Global Pets World will provide a safe, welcoming, and entertaining experience for both pet owners and pets, while offering variety of services to make them enjoy and enhance their lives together, unraveling great opportunities in this largely untapped market. To enrich the experience of pet owners and animal lovers, Global Pets World Group along with Ammbr, will be launching the project on Ammbr’s Metaverse, designed as a bridge between blockchain technology and a conventional use case that will appeal to a new audience. Pets World is already being built in the Metaverse. Ammbr’s metaverse, called Metasense, will host the project at a prime location on the virtual Island of Hong Kong. More than ten locations in the real world and the virtual world of Metasense are earmarked for further launches of Global Pets World. Patrons will be able to get Pets World Club Memberships through an ERC721 Non-Fungible Token (NFT), and the buyers of these membership NFTs, appropriately named Pet Paws NFT, will pay and receive the NFTs into their Pets World Wallets. The NFTs can be traded on a marketplace and tokenization platform, which will also host a variety of digital pet assets including memorabilia, eBooks, videos, and music. The Pet Paws NFT will be available for sale on the Global Pets World official website on 14th Feb and will be priced in ETH. WisdomCome Group has been working in the pet health care product market and provides pet safety-related consistent growth, meeting all the needs of a pet’s life. The company’s goal is to develop a safe and comfortable environment for pets and their owners; simultaneously, NFT covering across the globe connects the extended network of pet lovers and pets. Global Pets World offers a reliable and trustworthy ecosystem to make its client enjoy life. The company will focus on the development and functioning of the theme park. The partnership with Ammbr Group, a top decentralized infrastructure technology firm, will forever change how physical and digital assets owners consider possession, trading, and communication. https://globalpetsworld.com/ https://twitter.com/petpawsnft https://discord.gg/ErUv3rBHw4 https://t.me/PetPawsNFT https://www.instagram.com/petpawsnft/ 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

Global regulators are “going full steam” on cryptocurrency regulation. “The current structure is no longer fit for the purpose with the development of cross-border digital market activities,” said the chairman of France’s markets watchdog AMF. Global Regulators Going Full Steam on Cryptocurrency Regulation Robert Ophèle, chairman of France’s markets watchdog, the Autorité des marchés financiers (AMF), and a member of the Financial Stability Board (FSB), reportedly discussed global cryptocurrency regulation Wednesday at a virtual conference held by Afore Consulting. The FSB is an international body that monitors and makes recommendations about the global financial system. Ophèle is also the second deputy governor of the Bank of France, the French central bank. Ophèle explained that regulators worldwide are following the same “universal basic principle,” adding: I do expect that for some of them, we do have international regulatory convergence … primarily stablecoins and digital asset service providers. The AMF chairman noted that regulators have not been actively supervising the crypto sector because crypto assets were not yet seen as a financial stability threat. However, Ophele emphasized that crypto is now top of the FSB’s agenda. The central banker opined: I do think we could achieve, deliver on these issues in the next few quarters … the FSB is going full steam on this issue. While the FSB only provides guidelines, without the power to make binding rules, its members are committed to establishing regulatory frameworks in their jurisdictions. Ophele believes that the European Union needs a powerful watchdog for markets, like the European Central Bank (ECB) is for banking. He elaborated: The current structure is no longer fit for the purpose with the development of cross-border digital market activities. What do you think about global regulators going full steam on crypto regulation? Let us know in the comments section below. View the full article

President of Kazakhstan Kassym-Jomart Tokayev has instructed authorities to identify all crypto mining enterprises and increase the electricity surcharge they are required to pay. The state is not against legal mining activities, but crypto farms should be licensed and taxed, Tokayev insisted. Miners in Kazakhstan to Pay Higher Electricity Tariffs On top of electricity shortages that have already forced some companies to leave Kazakhstan, crypto miners are now facing a tax hike and stricter oversight. At a meeting with ministers this week, President Kassym-Jomart Tokayev ordered the government to prepare comprehensive regulations for the industry by April 1, making sure its members fulfill their obligations. Local media reported this week that authorities in the Central Asian nation are considering a fivefold increase of the electricity tax miners are expected to pay. Last summer, Kazakhstan introduced a surcharge of 1 tenge (approx. $0.0023) per kilowatt-hour used to mint digital currencies. Quoted by Tengrinews, Tokayev said: The current rate is negligible. I instruct the government to work out a multiple increase of this tax as soon as possible. The head of state elaborated that the socio-economic effect of the mining business is minimal, noting that the sector does not create many jobs or products but consumes a lot of energy. In some cases, miners use subsidized electricity and do not pay duties on imported equipment while cashing out their profits in other jurisdictions. Kassym-Jomart Tokayev emphasized that the state is not against legal crypto mining but insisted that all mining facilities should be identified and their tax, customs, and technical documentation inspected. He tasked the Financial Monitoring Agency to look into the situation in detail and report back by March 15. “Those who want to work in this field must have an appropriate license, receive electricity at adequate tariffs, declare income and pay taxes, launch green energy projects,” the president added. Kazakhstan has become a major mining hotspot since China launched a crackdown on the sector in May of last year. As of August 2021, the country’s share in the global bitcoin hashrate had reached 18%, second only to that of the United States. Miners were initially welcomed by Kazakhstan, but its growing power deficit has been blamed on the energy-intensive industry. The country had to increase electricity imports from neighboring Russia, and recently shut down mining farms amid winter blackouts. Mass protests over rising energy costs, mainly the prices of fuels such as natural gas, erupted in the first days of January, threatening Tokayev’s administration. To quell the unrest, the government temporarily closed down local banks and restricted access to the internet which also affected crypto miners. Do you think most mining companies will remain in Kazakhstan despite the stricter oversight and upcoming tax increase? Share your expectations in the comments section below. View the full article

PRESS RELEASE. Boston, 10 February 2022 – Creaticles, the world’s first NFT Requests Marketplace, has today announced new signature additions to its Advisory Board, Jeff Jiho Zirlin, Co-Founder of Axie Infinity; Sébastien Borget, COO and Co-founder of Sandbox; Joe Zhou – Co-Founder and CEO of FirstBlood; Juergen Hoebarth, seasoned blockchain consultant and Founder of NFT.Art; and Kenny Li – MIT Sloan graduate and cofounder of Manta Network. The new Advisors join Creaticles as the platform gears up for its multi-chain expansion in the coming weeks. Creaticles is the world’s first NFT platform that matches buyers looking for bespoke NFT art to its roster of verified global artists. The company was founded by former Ericsson Engineer and current MBA Candidate at MIT Trevor Keith (CTO), and blockchain veteran Jonathan Chen (Head of Operations), with the overarching mission to accelerate mainstream NFT adoption and broaden accessibility into the space. The platform allows anyone to source custom NFTs through ‘Creaticles contests’, using a Request for Proposal (RFP) model, in which users submit an idea request to the platform’s roster of verified artists. Upon receiving submissions, users can select their preferred NFT and winning artists can be remunerated in ETH, and in the future, CRE8 – Creaticles’ native utility token. All NFTs purchased on the platform will be transferable to all secondary marketplaces, opening the door for artists to compound their earnings with future sales of their art work. Creaticles has experienced rapid growth since its testnet launch in August 2021, and was selected as one of eight of the most promising projects in CoinList’s Seed batch for Fall 2021, out of a field of over 500 crypto projects. Following its mainnet launch in November 2021, the company raised $3.8 million USD in IDO on SushiSwap (MISO) – investment that will be used for team expansion and marketing activities. Creaticles recently announced a strategic partnership with Esports platform FirstBlood to facilitate NFT rewards for Esports tournaments, and the company has also successfully conducted NFT competitions for Axie Infinity, Harmony, MakerDAO, Polygon, Mask Network, and Pangolin. CRE8, Creaticles’ native utility token, has multiple utilities across payment for art and premium placement, governance voting, rewards for commission collected, as well as staking. CRE8 is currently listed on Sushiswap, Gate.io and MEXC, with more exchange listings earmarked for Q2 and Q3 2022. Jonathan Chen, Creaticles Head of Operations said: “Along with the growth of the Creator Economy, we’ve seen the NFT space as a whole expand rapidly in recent months. At Creaticles, we are looking to fast-track the mainstream adoption of NFTs and to be recognized as the platform of choice for global artists to enter the blockchain space. Our roster of verified artists is continuing to grow and we are poised to launch several key partnerships that will give these artists the opportunity to showcase their talent and unlock new revenue streams. We are extremely pleased to add Kenny, Joe, Juergen, Sébastien and Jeff’s technical acumen and their invaluable experience to our Advisory Board as part of our comprehensive growth strategy.” Joe Zhou said: “Creaticles is a unique NFT project that truly gives the power back to creators, independent from secondary market sale. If you look at Looksrare, sorare and Opensea, most of the NFTs remain untouched from their initial listing. Many artists in fact won’t be able to even get their initial gas expenses back for minting their collections. The next wave of NFT adoption will need platforms like Creaticles and this is why we are bullish with its mission.” Juergen Hoebarth said: “It seems like everyday another household name brand announces their entry into the NFT market, powering a groundswell of momentum that can’t be stopped. Creaticles is poised to assertively take a market leading position in the burgeoning NFT space, offering a genuine ‘first of its kind’ offering that will resonate with artists, crypto platforms and new market entrants. I’m thrilled to join them on this journey!” Kenny Li said: “The Creaticles team have identified a major gap in the market, and have developed an exciting value proposition that will drive mainstream adoption of NFTs and encourage more NFTs to be created. Every crypto project now requires high quality art as a means of celebrating company milestones or rewarding community members through contests – which have exploded in popularity. This means Creaticles have entered the market at the perfect time. I’m delighted to join the company’s Advisory Board and I look forward to contributing to the company’s success trajectory over the coming months.” For the latest information on the Creaticles roadmap and to join the official Discord and Telegram channels, use the following link: https://linktr.ee/Creaticles About Creaticles Creaticles is the blockchain industry’s first custom NFT request platform that connects businesses and individuals with creators. Any enthusiast with an idea can request custom NFTs, and the artists who bring those ideas to life get to build their reputation and earn rewards via cryptocurrencies. Users can engage in various contest modes to ensure their requests for NFTs  — such as memes, logos, games, and web assets  — are minted as requested. For more information on Creaticles, please visit Creaticles.com This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

Binance and the South Korean entertainment corporation, YG Entertainment, have signed an agreement that enables the two firms to collaborate on blockchain projects that include non-fungible tokens (NFTs). They also plan to develop games that are compatible with the Binance Smart Chain (BSC). NFTs, Games, and Metaverse Collaborations Cryptocurrency exchange Binance and YG Entertainment Inc., a South Korean entertainment corporation, recently announced they will cooperate on various blockchain projects and will also collaborate in the NFT space. Under the terms of the agreement, Binance will provide the NFT platform while YG Entertainment is expected to provide the content and the gaming assets. In addition, a statement released by Binance said the two entities are also planning to develop games that are compatible with the Binance Smart Chain (BSC). They also plan to collaborate on building the metaverse, the statement said. Blockchain Adoption In remarks following the signing of a memorandum of understanding (MOU), executives from Binance and YG Entertainment praised the partnership. “As a Kpop leader, we plan to steadily build an innovative and eco-friendly NFT ecosystem. Collaboration with Binance has provided an opportunity for YG to secure royalties and business opportunities for rare and valuable content. We also hope that it could further strengthen the bond between fans and artists,” explained Bo Kyung Hwang, CEO at YG Entertainment. In her own remarks, Helen Hai, Global Head of Binance NFT, lauded the importance of the partnership. Hai said: “Now that the two companies have joined forces, we can expect to see a strong cooperative relationship being forged. We hope that this will support the development of the global blockchain ecosystem, and bring further mainstream adoption of new assets, such as NFTs, to a new user base.” What are your thoughts on this story? Tell us what you think in the comments section below. View the full article

PRESS RELEASE. (Irvine, February 9, 2022) – Sustainable Bitcoin mining company Merkle Standard has executed a purchase order for the high-performance, liquid-cooled mining rigs from Bitmain Technologies Ltd. The leading ASIC hardware provider will supply 4,449 of new S19 Pro + Hydro machines to Merkle Standard in May 2022 and is expected to be one of the first deployments of BITMAIN’s hydro cooling technology within the US. This purchase agreement will add approximately ~840 PH/s to Merkle Standard’s nameplate hashrate. The mining rigs are equipped with BITMAIN’s latest liquid cooling technology delivering a hashrate of 188 TH/s, nearly double that of the S19 J Pro. The rigs boast an expected power efficiency of 27.5 J/TH, reflecting the advanced liquid cooling technology. The announced order constitutes a significant increase in the capacity and performance capability of Merkle Standard’s mining operations. “This order is a major milestone in the exponential growth of Merkle Standard and our partnership with BITMAIN signifies our mission to develop sustainable and efficient operations, prioritizing the acquisition of high performing machines and embracing the latest technologies manufactured by our strategic partner BITMAIN,” says Ruslan Zinurov, CEO of Merkle Standard. The new purchase is scheduled for delivery in May 2022 and will be deployed at Merkle Standard’s 225 MW data center in Eastern Washington. This flagship location paired with BITMAIN’s technology is central to the company’s plan of becoming one of the industry’s most efficient and sustainable miners. “As BITMAIN continues to bring cutting edge technology to market, we are excited to partner with Merkle Standard who is committed to prioritizing efficiency and sustainability within its mining operations”, says Irene Gao from BITMAIN Merkle Standard’s purchase agreement with BITMAIN is part of its growth strategy to deploy the industry’s latest technology. About Merkle Standard Merkle Standard is a premier digital asset mining company with a distinct focus on developing North America’s most efficient vertically integrated self-mining platform with a negative carbon footprint. The company’s flagship mining facility features 225 MW of power infrastructure. To learn more about Merkle Standard, visit www.merklestandard.com. Contact: info@merklestandard.com This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

Non-government and volunteer organizations collecting funds to support Ukrainian forces have been accepting donations in cryptocurrency, a new report has unveiled. The findings have been published amid heightened tensions with Russia, which has been accused of amassing troops at the border with Ukraine. Ukrainian Organizations Crowdfund Defense Effort With Crypto Ukrainian NGOs and volunteer groups have raised several hundred thousand dollars in cryptocurrency, a study by blockchain analytics firm Elliptic has revealed. Donations made in digital assets have increased by 900% last year, the company’s researchers found. Most of these groups were founded during the Maidan revolution in 2014 when they helped protesters. Since the annexation of Crimea by Russia, they have been supporting Ukraine’s war effort against pro-Russian forces in the eastern Donbas region by sending volunteers, weapons, and supplies. In the past few years, the organizations have received millions of dollars in fiat money through bank wires and payment apps. Meanwhile, bitcoin has become an alternative funding channel as it allows donors to circumvent restrictions imposed by the traditional financial system, the authors note. Elliptic has identified several crypto wallets used by the non-government organizations and volunteer groups and found they have received over $570,000 worth of digital coins in total. Most of the funds were transferred over the course of the past year. Among the groups accepting cryptocurrency is Come Back Alive, which supplies the Ukrainian army with military equipment, medical products, and provides training. It introduced the crypto option in 2018. The organization has received almost $200,000 in digital currency during the second half of 2021. Ukrainian Cyber Alliance, whose members have been engaged in cyberattacks on Russian targets since 2016, including against Russia’s defense ministry, takes only crypto donations. In the past year, it received close to $100,000 in BTC, LTC, ETH, and various stablecoins. The Belarus-based Cyber Partisans is another hacktivist collective accepting exclusively bitcoin. It took responsibility for a cyberattack on the Belarusian railroad’s systems, demanding the withdrawal of Russian troops from the country. According to the report, it raised $84,000 in BTC in the past six months. Myrotvorets Center is an NGO headquartered in the Ukrainian capital that reveals information about persons working for Russia, from mercenaries to journalists. Since enabling crypto donations, after the closing of its Paypal account, it has accumulated at least $268,000 in BTC. While these organizations are often funded by private donors, some of them are believed to maintain close ties with the government in Kyiv. Thus, Ukraine joins other nations that have employed cryptocurrency to raise funds, Elliptic remarks. The report mentions Iran — which has been using bitcoin mining to monetize its energy reserves and crypto payments to bypass foreign sanctions — as well as North Korea, allegedly implicated in stealing digital coins to finance its weapons programs. The report notes that Russia has in fact used crypto for fundraising since the beginning of the conflict. A series of online campaigns which raised money for the pro-Russian separatists in Eastern Ukraine accepted cryptocurrency alongside fiat. One of them, conducted under the banner “Save the Donbass,” registered at least 68 bitcoin donations between 2014 and 2016. Do you expect crypto donations for Ukrainian volunteer groups to continue to increase? Tell us in the comments section below. View the full article

The Treasury Department of Puerto Rico has published a working document that amends the current “Sales and Usage Tax” to include NFT sales. While this proposal has yet to be approved, experts believe the inclusion of NFTs in this reform brings validation to the asset class, but also that the application of this regulation presents challenges. Puerto Rico May Soon Tax NFT Sales The Department of Treasury of Puerto Rico has its eyes on NFT sales. The organization released a newly proposed reform to the Sales and Usage Tax law last month that includes the concept of NFTs as a taxable asset class. This new amendment would include NFTs as part of the Specific Digital Products group. It reads: Digital audiovisual works transferred or delivered electronically, digital audio works, or other digital products, provided that a digital code gives a purchaser the right to obtain the product will be treated in the same way as a specific digital product, including digital products in token format or medium non-fungible or “NFT”. The amendment goes on to define the steps taxpayers must follow to report NFT sales, indicating that these details must include the source of income and the addresses of the buyers if available. This is the response of the country’s treasury to the rise of NFTs, which have seen billions in sales worldwide. A Challenge to Apply While analysts believe there are benefits to recognizing NFTs and including them in this reform, most of them believe the application of these rules will be a challenge for the treasury department. This is the opinion of CPA Giancarlo Esquilin, who told local media that the current definition of the law project is not adequate. He stated: As it is written right now, it is a bit difficult to get to the application of the tax because there are several factors of where the person who buys it is located. For NFTs, you don’t see who your buyer is or where the bank account is. It would be uphill in terms of control. However, Esquilin also recognizes Puerto Rico might be the first U.S. jurisdiction to treat NFTs as taxable products, and this might lead to others doing it, proposing better regulatory frameworks. Juan Pedreira, a tech analyst, also stated that the question remains how the treasury will audit the sale of these assets. Pedreira declared this would not be as simple a process as the current Treasury is trying to make it look. What do you think about Puerto Rico potentially taxing NFT sales? Tell us in the comments section below. View the full article

Ricardo Salinas Pliego, president of the Salinas Group, owner of the Elektra Group stores, hinted at the possibility of the shops selling bitcoin. The executive stated that due to the regulations of the Central Bank of Mexico, his company cannot implement cryptocurrency integration in the Azteca Bank app. However, he did point out that Elektra could sell bitcoin as it is a commercial institution. Ricardo Salinas Criticizes Mexico’s Crypto Regulations Ricardo Salinas Pliego, one of the richest men in Mexico and president of the Salinas Group, mentioned the possibility of selling bitcoin in his popular Elektra Group department stores. The remarks were made in a recent Tiktok video, where Salinas commented about the difficulties of including bitcoin in different services due to the regulations of the Bank Of Mexico. On this, Salinas stated: The issue with the Banco Azteca app is that the regulatory pundits won’t let us, the Bank of Mexico won’t let us, but they’re all of them. The Ministry of Finance, the National Banking Commission… the government officials won’t let us. Salinas further explained that bitcoin is not liked by these institutions, and they are bound to comply with the laws until regulations change. An Open Possibility in Elektra Stores Later in the clip, Salinas stated that stores of the Elektra Group could sell bitcoin as merchandise. This is because they are not under banking regulations, and don’t have to protect the money of their investors. The executive clarified: Elektra, being a commercial entity, is not regulated by banking authorities, it does not collect money and it does not have that problem of having to protect people’s deposits. Elektra can sell bitcoin as any merchandise, as it was a bike or a phone. Salinas Pliego has been a supporter of bitcoin since long ago. The executive recommended buying bitcoin last June, where he stated the asset had extraordinary properties. At the same time, he informed that his bank, Banco Azteca, was working to be the first financial institution in Mexico to take and offer financial services in bitcoin. However, the Finance Minister of Mexico, Arturo Herrera, quickly answered these intentions, clarifying that the use of cryptocurrencies was not allowed under the current regulations of the Mexican financial system. What do you think about the statements of Ricardo Salinas Pliego hinting at the possibility of selling bitcoin in Elektra Group stores? Tell us in the comments section below. View the full article

PRESS RELEASE. Zug, Switzerland — Ambrosus Core, the technical foundation of Ambrosus Ecosystem, has announced the launch of a substantial developer funding program — $10 million for developers deploying decentralized finance (DeFi) applications and other decentralized solutions on the Ambrosus blockchain. Ambrosus is a fully operational Layer 1 EVM-compatible blockchain protocol providing scalability, zero-knowledge proof data security, and unique built-in data storage capacity. In order to support network growth and expand its user base, Ambrosus Core is launching a developers funding initiative. DeFi on Ambrosus has recently seen an all-time high in total value locked (TVL) of over 310 million AMB as a result of its newly launched staking platform. As of today, the foundation is accepting applications for its grant program open to new contributors looking to build dApps, NFTs, and DAOs on AMB-NET. Any developer or entrepreneur can now apply for funding to create scalable solutions that enjoy seamless low-cost transactions on the secure network. The seven-figure grant will be distributed among: Startups—developers and entrepreneurs looking to launch a dApp on AMB-NET. Open-source developers—individuals and teams developing open-source products on top of AMB-NET. Educators—those who create unique and informative content for new Ambrosus Ecosystem participants. Igor Stadnyk, Chief Technical Officer at Ambrosus Core, highlights: “The next chapter for Ambrosus Core is all about fostering DeFi growth on our network. We are proud of the functional, dependable and competitive blockchain we’ve developed, now we want to help onboard new developers and assist them with building their new exciting projects on AMB-NET. I am excited to be launching this $10 million grant today, which will aid in embedding Ambrosus at the center of DeFi developments.” About Ambrosus Ambrosus is a fully operational Layer-1 open-source scaling solution launched to bring mass adoption to Ethereum and EVM-compatible platforms. It is the first decentralized and efficient Proof of Authority network built by industry experts in Switzerland. Learn more on the website. This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

On Tuesday, the U.S. Department of Justice (DOJ) arrested two individuals that are accused of an “alleged conspiracy to launder” 94,636 bitcoins stolen from Bitfinex in 2016. Interestingly, both of the suspects are known individuals within the tech industry as Ilya Lichtenstein was the co-founder of Mixrank, a Y-Combinator backed startup and Heather Morgan was a writer for Forbes. The Myriad of Mysterious Bitcoin Transfers From the 2016 Bitfinex Hack The U.S. government announced the “largest cryptocurrency seizure to date” after the DOJ seized 94,636 bitcoins that were stolen in the August 2016 Bitfinex hack. On August 2, 2016, a hacker managed to breach Bitfinex and steal 120,000 bitcoin (BTC). Bitcoin’s price shuddered 24 hours after the breach losing 22% in USD value during the course of the aftermath. At first, Bitfinex talked about reimbursing customers with a bail-in haircut plan, which means traders would only get a fraction of losses. Two weeks later after the 120,000 BTC was stolen, Bitfinex gave the crypto community an investigation update. Instead of following through with the haircut plan, Bitfinex introduced “recovery rights tokens,” in order to make amends with the customers who lost funds. The coins were called BFX tokens and by April 3, 2017, at 8 p.m. UST (4 p.m. EST), the crypto exchange revealed it had paid its debt in full. However, after this point in time, people stopped talking about the Bitfinex stolen bitcoins, but the addresses holding the coins were monitored. In June 2019, the thieves moved 170 BTC and then 300 BTC in August 2019. On May 21, 2020, 30 coins from the Bitfinex hack started moving, and had been transferred once again to another unknown address. On June 11, 2020, hackers moved stolen Bitfinex coins, as they transferred 416 bitcoin to an unknown address. About a week later, the thieves moved 2,500 bitcoins and in October 2020, the hackers transferred 2,034 BTC to unknown wallets. 5,045 BTC was moved by the hackers on December 1, 2020, and then on April 14, 2021, thousands upon thousands of stolen Bitfinex bitcoins were transferred, and caught by blockchain parsers. But the most unusual move of them all was on February 1, 2022, when 94,643.29 bitcoin was consolidated into one address with no privacy-preserving tactics used. The moved bitcoins on February 1, represented 79.03% of the 119,756 BTC stolen on August 2, 2016. Ilya Lichtenstein and Heather Morgan: The Duo Accused of Laundering Billions in Bitcoin Stolen From Bitfinex Following the odd transfer, the DOJ announced on February 8, 2022, that it seized approximately 94,636 bitcoins and arrested two individuals. The accused Bitfinex bitcoin money launderers were Ilya Lichtenstein, 34, and his wife, Heather Morgan, 31. Both of the accused bitcoin launderers were well known in the tech community and did not hide their presence online. Lichtenstein was the co-founder and CEO of Mixrank, which is essentially a customer discovery platform that works with sales representatives. Mixrank and Lichtenstein managed to raise $1.5 million from Mark Cuban and other investors. Lichtenstein had no problem with public appearances and speaking in interviews about his entrepreneurship. Lichtenstein’s wife Heather Rhiannon Morgan was also not shy and was a contributor at Forbes, and wrote articles about things like cybercriminals. Morgan had close to 5,000 Instagram followers and she considered herself a street rapper and was called “Razzlekhan.” While performing and acting as her alter ego Razzlekhan, she also called herself “the Crocodile of Wall Street,” and the musician published a dedicated website. “Just like her fearless entrepreneurial spirit and hacker mindset, Razz shamelessly explores new frontiers of art,” the web portal razzlekhan.com says. In fact, links are littered all over the internet about Lichtenstein and Morgan, as they both had a lot of entrepreneurial spirit. Morgan’s Linkedin profile says she is a “Serial Entrepreneur, SaaS Investors, and Surrealist.” Lichtenstein studied psychology at the University of Wisconsin and worked for many marketing jobs. He also has a dual U.S. and Russian citizenship after living there during his youth. After Lichtenstein’s career at Mixrank, he allegedly worked for a “stealth security startup.” The duo’s marriage is fairly recent as well, as Morgan and Lichtenstein got married in November 2021. In addition to working for a “stealth security startup,” Lichtenstein was an angel investor at Demandpath. According to the website, Demandpath is “a boutique micro-fund investing in the next generation of promising technologies.” When the duo was arrested in Manhatten, the DOJ said that “thanks to the meticulous work of law enforcement, the department once again showed how it can and will follow the money, no matter what form it takes.” However, the DOJ did not disclose how the couple originally obtained the funds. The U.S. government also did not detail what will happen to the seized bitcoin (BTC), but it’s assumed the coins will be auctioned like prior seizures. While no one knows right now how Lichtenstein and Morgan first got involved with the Bitfinex hack bitcoins, the public is well aware that the duo did not hide or attempt to keep themselves secretive. The couple, who were married in November 2021, broke the news that they would wed in the summer months before the wedding. “[Heather Morgan is my] best friend and the woman of my dreams,” Lichtenstein said at the time. Currently, the couple remains in prison because court prosecutors say the duo “presents a serious risk of flight.” The court prosecutors’ filing claims Lichtenstein and Morgan may still possess 7,506 ill-gotten bitcoin (BTC). If true, that would leave $333.8 million using current BTC exchange rates at the duo’s disposal. “The investigation also showed that Lichtenstein and his wife, Morgan, engaged in extraordinarily complex laundering of a portion of the stolen funds stored in wallet 1CGA4s,” the filing details. “Specifically, beginning in or around January 2017, a portion of the stolen BTC moved out of wallet 1CGA4s in a series of small, complex transactions across multiple accounts and platforms.” The Washington judge presiding over the case halted the couple’s chance at bail after the prosecutors filed the flight risk concerns. What do you think about the couple accused of laundering the 94,636 bitcoin seized by the DOJ? Let us know what you think about this subject in the comments section below. View the full article

A former Bank of Thailand director has warned about an imminent crypto crash. “A cryptocurrency bubble will emerge at the end of March when liquidity in the financial market drops,” he reportedly predicted. Former Central Bank Director Warns Crypto Market Will Soon Crash Former Bank of Thailand (BOT) Director Anusorn Thammajai reportedly warned that the cryptocurrency market will crash in a couple of months, the Nation reported Sunday. The ex-central bank director cautioned: A cryptocurrency bubble will emerge at the end of March when liquidity in the financial market drops due to moves by central banks to taper quantitative easing and raise interest rates. He noted that the first wave of the crypto bubble has already passed and many cryptocurrencies lost more than 40% in value this year. The former Bank of Thailand director added that while cryptocurrency helps create a financial ecosystem in the digital economy, it also poses risks to financial systems. He further warned investors who hold risky assets to be extra careful in the second quarter this year. In addition, Thammajai stressed that he supports the Thai government’s plans to tax crypto transactions and tighten the regulation of cryptocurrencies. He noted that illegal businesses have been utilizing cryptocurrency for money laundering and other illicit financing purposes. Meanwhile, Thailand recently relaxed crypto tax rules, scrapping the 15% planned withholding tax. Last month, the Bank of Thailand, the Thai Securities and Exchange Commission, and the country’s finance ministry announced that cryptocurrency will be regulated as a means of payment. What do you think about the warning by the former central bank director? Let us know in the comments section below. View the full article

Data indicates the non-fungible token (NFT) marketplace Opensea has crossed $20 billion in all-time sales. The leading NFT marketplace has seen more than 1.2 million traders leverage the platform since the market’s inception in 2017. 1.2 Million Opensea Traders and $20 Billion in Sales Volume Metrics show that the NFT marketplace Opensea has surpassed $20 billion in all-time sales volume, according to dappradar.com. The NFT market was created five years ago by the entrepreneurs Devin Finzer and Alex Atallah. Opensea allows users to sell NFTs at a fixed price and they can also leverage the auction method to sell their non-fungible tokens. When the market started in 2017, Ethereum was the blockchain of choice but recently Opensea has added support for the layer-two (L2) Polygon blockchain network. Dune Analytics data shows that Opensea’s transaction count and USD volume has increased over the last 30 days. At the time of writing, dappradar.com metrics indicate 30-day sales have risen by 35.17%. While Opensea is the leading NFT marketplace today, the new entrant Looksrare has been a competitor. Data shows that the NFT market Looksrare’s all-time volume is $14.68 billion, but Lookrare’s trade volume is considered contestable. Looksrare’s sales figures have been adjusted on analytics web portals as the market has been reportedly “hit by washtrading.” Opensea has a slew of competitors like Rarible, Magic Eden, Atomic Market, Superrare.co, Foundation, Digitaleyes Market, and more. However, Magic Eden, processing the highest number of sales out of the aforementioned NFT markets, has only seen $582.31 million in all-time sales. Axie Infinity, on the other hand, has processed $4.08 billion in all-time sales, ranking the project third in terms of amount of NFT sales, behind Opensea and Looksrare. Prior to the $20 billion in all-time sales, Opensea acquired Dharma Labs and in January the company raised $300 million, propelling the firm’s valuation to $13.3 billion. What do you think about Opensea’s sales volume crossing the $20 billion mark? Let us know what you think about this subject in the comments section below. View the full article

Following price consolidation on Tuesday, bitcoin prices rebounded on hump-day, as markets reacted to the news that Russia will regulate, and not ban, crypto. Bitcoin Bitcoin was marginally higher on Wednesday, as the world’s largest cryptocurrency received a boost from the news surrounding Russia. BTC/USD rose to an intraday high of $44,312.45 during today’s session, as bulls re-entered the race following yesterday’s consolidation The move has seen prices head closer to the $45,000 level, however bitcoin will first need to overcome resistance at $44,800. Still, following the upside crossover of the moving averages of ten days (red) and 25 days (blue), many believe it is inevitable that prices will make a run to $50,000. This may be a bull trap, as the 14-RSI suggests otherwise, currently tracking at 63.5, which is not only in overbought territory, but also the highest level it has recorded since November. Many believe that the ceiling for price strength could be 68 on a daily chart, which may dent hopes for longer-term bulls, at least for now. Ethereum Ethereum was approaching a three-week high during Wednesday’s session, as prices moved closer to their long-term resistance of $3,400. ETH/USD rose to an intraday high of $3,163.40 on Tuesday, as bulls bought at support of $3,022. This move comes as the 14-day RSI is currently tracking at 59, which is its highest level since November 12, when prices were north of $4,400. Similar to BTC, the upside crossover with the moving averages has continued to mature, however with price strength currently overbought, bears may still be lurking. Will there be any further hurdles for ETH on the way to $3,400? Leave your thoughts in the comments below. View the full article

PRESS RELEASE. Not only are the financial markets experiencing a revolution due to blockchain technology and cryptocurrencies, but NFTs are changing the digital space for artists and consumers and investors. NFTs, already a multi-billion dollar sector, have witnessed an incredible rise of art collectors and investors, from professionals to hobbyists and newbies. Digital artwork and collections are selling for tremendous amounts of money as art becomes more accessible than ever before. Being an art collector used to be a highly exclusive activity to indulge in, reserved only for a small subset of people. However, NFT technology has now opened doors for everyone. One of the highest anticipated collections is Meta Penguin Island, created by Thomas Loopstra and Maurice Baltissen from Mitsi Studios in the Netherlands. The two are icons in the digital art scene, and the project’s quality proves why. What is Meta Penguin Island? Meta Penguin Island is a community-driven NFT project built around a passionate and interactive community. A collection of 8888 unique penguins designed by Mitsi Studio, categorized by their rarity and generated in 4K resolution with hundreds of passionately detailed elements. Why Are Meta Penguins So Anticipated? The Artists The two Dutch artists have designed globally, gaining respect for notable brands. Thomas Loopstra is an animation wizard who breathes life into characters and environments and excels in creating any design. Maurice Baltissen, on the other hand, is a 3D specialist who delivers excellent animations and illustrations with great attention to detail. He’s continuously trying to break new ground visually and reach new heights in his works. Meta Penguin Island has the most detailed 3D NFT in the market. The two artists from Mitsi Studios have an incredible love for detail that separates MPI from the many other projects in the field. https://mitsi.studio/portfolio/ Purely Mind-Blowing Trailers Meta Penguin Island is sharing some incredible trailers during the build-up to the project. The trailers are on the social media pages, with more releases expected before the NFT drop. The trailers reveal the whole body renders and details of the pieces before the launch. https://www.instagram.com/p/CZKWIhvJfgW/ https://www.instagram.com/p/CZh4hkFpnkw Continuously Growing and Engaging Community MPI describes themselves as purpose and community-driven. Their community is highly engaged and proliferating. With over 150,000 discord members in less than a week, they are on pace to break 200k by the mint. Penguin Merchandise! MPI is looking to bring quality physical merchandise to the community. Several high-quality penguin merch items are lined up, including plushies and clothing only accessible to holders and those who want to represent the project beyond the Metaverse. Introduction of DAO (Decentralized Autonomous Organization) Since Penguins love to stay in a healthy and accessible community, introducing a DAO to make vital decisions for the island’s development will be a step in the right direction. Each penguin’s vote is equally important to the growth and evolution of the colony. 3D Model in the Metaverse After the upcoming launch in mid-February, each NFT holder will receive a digital 3D model of its penguin. The model can enter many existing NFT metaverses or be 3D printed. More so, holders will enjoy full intellectual property rights to their penguins. What Can You Do With Your Penguin? You can do anything you want with the penguin. For example, MPI relinquished all rights of individual penguins to the owner; this includes the profile picture render and the 3D model used in the Metaverse. Mint a Meta Penguin Island NFT Meta Penguin Island will mint on February 12, 2022. Twitter: https://twitter.com/metapenguinsnft Instagram: https://instagram.com/metapenguinsnft Discord: https://discord.com/invite/metapenguinisland 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 federal government in Moscow has adopted a concept for regulating the Russian crypto space as early as this month. The new framework is expected to place cryptocurrency flows under state oversight, introduce strict obligations for market participants, and ensure investor protection. Russian Authorities Move to Legalize Crypto Economy The Russian government “has determined the future of digital currencies in Russia,” an announcement published late Tuesday stated. The executive power in Moscow elaborated that the plan is to integrate the circulation of cryptocurrencies into Russia’s financial system. The cabinet also aims to establish control over crypto-related flows in the banking system. Siding with the Finance Ministry’s view on the matter, the federal government wants to allow crypto platforms to operate under a licensing regime. To protect the rights of Russian citizens, investors will be divided into qualified and non-qualified classes, while crypto service providers will be obliged to meet certain capital and liquidity requirements. They will also be tasked with informing Russians about relevant risks. This regulatory approach contrasts with the Central Bank of Russia’s proposal from January to impose a blanket ban on a range of operations with cryptocurrencies, including their issuance, use, trading, and mining. The monetary authority has found itself in isolation among Russian institutions, most of which favor regulation over prohibition, and dismiss its concerns over financial stability. Russia’s financial watchdog, Rosfinmonitoring, the Federal Tax Service, the Ministry of Economic Development, the Ministry of Internal Affairs, the Federal Security Service, and the Prosecutor General’s Office also took part in the discussions. The Russian government emphasized: The implementation of the concept will ensure the creation of the necessary regulatory framework, will bring the digital currency industry out of the shadows and create the possibility for legal business activities. Finance Ministry and Bank of Russia to Draft Crypto Law Quoting the minutes from a meeting hosted by the government, the business news portal RBC reported that Deputy Prime Minister and Chief of Staff, Dmitry Grigorenko, has approved the regulatory concept. He also instructed Finance Minister Anton Siluanov to order his department to prepare new legislation together with Bank of Russia. A draft law tailored to implement the plan should be presented by Feb. 18, 2022. At the core of the finance ministry’s proposal is the requirement to conduct all crypto-related operations through domestic banks. At the same time, the department also wants to authorize foreign digital asset exchanges to operate in the Russian market, if they open an office or register an entity in the Russian Federation. The treasury believes this would allow regulators to identify Russian cryptocurrency users. According to calculations provided in the document, Russian citizens have 12 million crypto wallets, holding 2 trillion rubles in digital coins ($27 billion). Quoting reportedly knowledgeable sources, Bloomberg recently revealed that an alternative estimate mentioned during the deliberations suggests Russians own over 16.5 trillion rubles in cryptocurrency ($215 billion). In the past year, Russia’s importance on the crypto mining map has also increased. The energy-rich country now ranks third in terms mining capacity, and officials in Moscow want to tap into the profits of this sector by recognizing it as an economic activity and taxing it accordingly. Another media report has indicated that the government expects to receive a total of $13 billion in taxes from the entire Russian crypto economy. Do you expect Russia to soon finalize the regulations for its cryptocurrency market? Share your thoughts on the subject in the comments section below. View the full article

Authorities expect to collect more than $13 billion as tax payments from the crypto market in Russia, according to a government document quoted by media. The estimate comes as Russian institutions are holding discussions on the future of cryptocurrencies in the country. One Trillion Rubles to Enter State Coffers in Russia as Crypto Taxes, Analysts Say While ministries and regulators are debating over Russia’s future crypto policy, a document leaked to the press has provided details about the conversations. Sources recently quoted by Bloomberg revealed that, according to an estimate the government is now using in the deliberations, Russians own over 16.5 trillion rubles in cryptocurrency (around $215 billion). The policy brief referring to that figure was also later quoted by The Bell news outlet, which publicized another key outtake. According to the authors, even if Moscow opts for a simplified tax regime, the total of the tax revenues expected from the digital assets industry can potentially reach one trillion rubles a year, $13 billion in U.S. currency. The analysis provides various assessments of the size of Russia’s crypto market, suggesting that the country’s share of the global crypto economy could be 12% or more. At the same time, the report notes that this estimate, produced by the analytical center under the federal government, has been doubted by some officials. The experts elaborate that crypto-related taxes can be collected from two main sources — levies on legal entities, such as exchanges and service providers, as well as taxes on investments. Their calculations show that the state can receive between 90 and 180 billion rubles a year from licensed crypto trading platforms and income tax can bring up to 606 billion rubles. Even after the adoption of the law “On Digital Financial Assets,” Russia is yet to comprehensively regulate its crypto space. A working group at the State Duma, the lower house of the Russian parliament, is now preparing legislative proposals to fill the remaining regulatory gaps. In January, Bank of Russia proposed a wide-ranging ban on the use, exchange, and mining of cryptocurrencies. However, the monetary authority has since found itself in isolation, with mounting opposition against its hardline stance on decentralized digital money and negative reactions from members of the crypto community. Meanwhile, the Ministry of Finance has come up with its own, alternative approach which favors regulation under strict government rules rather than prohibition. The Russian government, which is taking the side of the treasury department, is expected to present different regulatory scenarios by the end of this week. Do you think Russia will eventually choose regulation over a blanket ban on operations with cryptocurrencies? Share your expectations in the comments section below. View the full article

Saudi Arabia’s King Faisal Specialist Hospital and Research Centre recently became one of the country’s early adopters of blockchain technology after it implemented a “digital credentialing solution.” Saudi Arabia’s Blockchain Goal The Saudi Arabian medical institution, King Faisal Specialist Hospital and Research Centre, (KFSHRC) recently completed a deployment of blockchain tech when it implemented “a digital credentialing solution” for all patients that use its facilities. The implementation was carried out via the recently launched Blockchain Lab which has already identified several viable use cases for the technology. As a result of the deployment of this solution, the hospital can now publish digital certificates directly on the blockchain where they can be verified by residents. The deployment of this solution, according to a statement released by the hospital, aligns with Saudi Arabia’s goal of building blockchain know-how as well as the adoption of this technology in healthcare. Hospital an Early Adopter of Blockchain Using the blockchain is also said to enable the medical institution to quickly verify and manage patients’ credentials. The statement explained: KFSHRC is now able to securely issue, manage, track and verify hospital credentials in a much faster, efficient and convenient manner. Residents receive a secure email that allows them the ability to view their verified credentials on the blockchain and/or download it directly to their digital mobile wallets. Meanwhile, the hospital’s CEO, Majed Alfayyadh, is quoted lauding the fact that KFSHRC is one of the first institutions in the country to adopt blockchain technology. He added that this implementation “has [also] opened the door for real, applied use cases within healthcare.” As previously reported by Bitcoin.com News, Saudi Arabia’s IT decision-makers have identified blockchain as one of the emerging technologies they intend to prioritize in 2022 and beyond. KFSHRC’s implementation of the digital credentialing solution suggests Saudi Arabia’s IT leaders are now backing up their pledge to prioritize the technology. What are your thoughts on this story? You can share your views in the comments section below. View the full article

On February 8, the subsidiary of Animoca Brands and the decentralized gaming virtual world project, The Sandbox, announced the company has partnered with the French video game company Ubisoft. According to the announcement, Ubisoft will have its own land in the virtual metaverse, and the world will begin by featuring voxelized versions of Rabbids’ characters. The Sandbox Partners With Ubisoft, Multimedia Game Franchise Owner to Bring IP Elements to the Sandbox Gaming Metaverse Ubisoft and the Rabbids are coming to the blockchain-based virtual world The Sandbox, according to an announcement from the company. The gaming giant Ubisoft is well known for its multimedia franchises including Assassin’s Creed, Far Cry, Tom Clancy’s, Prince of Persia, Rabbids, and Rayman. The Sandbox says the project has “strategically partnered with Ubisoft to introduce Ubisoft game IP elements to The Sandbox gaming metaverse.” To start, Ubisoft is bringing characters from the franchise Rabbids, a spin-off video game stemming from Rayman. Over the years, the Rabbids series of video games and shows have become popular, as IGN said in 2006 that the game is “engaging and addictive and the title’s sense of humor is in a league of its own.” Ubisoft has already stepped into the world of non-fungible token (NFT) technology by showcasing Tom Clancy’s gaming series, with NFTs that leverage the Tezos blockchain. In The Sandbox metaverse, Ubisoft will produce an entertainment zone with interactive experiences. The press release sent to Bitcoin.com News details voxelized versions of Rabbids’ characters and items will be introduced. Guillaume Mammi, Ubisoft’s senior manager of new business and partnerships, said the firm looks forward to joining the blockchain metaverse world. “We’re excited to bring the Rabbids to The Sandbox community and to empower players to create their own original experiences incorporating elements of our gaming IP. We can’t wait to see how they make the Rabbids’ world their own,” Mammi said. The Ubisoft executive added: The Sandbox is an obvious new fun playground addition to the long list of Rabbids world invasions, and a great opportunity for Ubisoft to experiment a metaverse experience for its brands. The Sandbox Co-Founder Says ‘Ubisoft Has Proved Its Ability to Stay at the Forefront of Innovation’ The Sandbox’s native toke sandbox (SAND) is ranked 36, in terms of the top crypto market capitalizations, among 12,474 cryptocurrencies. SAND has a market valuation of around $4.6 billion today and year-to-date, SAND’s value against the U.S. dollar has climbed more than 3,400%. Statistics from cryptoslam.io indicate in terms of all-time NFT sales, The Sandbox is ranked the ninth-largest with $364.1 million in sales. Out of the $22.9 billion worth of metaverse-based tokens by market capitalization, the SAND token is third below the metaverse-competitors decentraland (MANA) and axie infinity (AXS). In addition to Ubisoft, The Sandbox has been making various partnerships with well known brands and celebrities since the project’s inception. Partners include Adidas, Warner Music Group, Atari, The Smurfs, Care Bears, and Snoop Dogg. Sebastien Borget, COO and co-founder of The Sandbox said in a statement sent to Bitcoin.com News that “Ubisoft is a global game company that proved its ability to stay at the forefront of innovation.” “We welcome Ubisoft into the open Metaverse as we work together to create new possibilities for players, fans, and creators with blockchain and Web3,” The Sandbox executive added. What do you think about The Sandbox partnership with the gaming giant Ubisoft and the introduction of voxelized Rabbids? Let us know what you think about this subject in the comments section below. View the full article