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A play-to-earn (P2E) blockchain gaming guild has raised $18 million in a Series A financing round according to an announcement on Wednesday. Avocado Guild detailed that the firm raised the funds from investors such as Animoca Brands, Goldentree Asset Management, Three Arrows Capital, and Solana Ventures. P2E Organization Avocado Guild Raises $18 Million From Strategic Investors According to an announcement from Avocado Guild on Wednesday, the organization raised $18 million from strategic investors. The capital raise stemmed from the firm’s Series A funding round which gave Avocado Guild an overall valuation of around $200 million. Avocado Guild's Series A Fundraise has officially closed in at $18 Million co lead by @animocabrands @kyled116 @hashed_official #QCP Soteria Thank you to our investors, and most importantly our fellow Avocadians. Time to build the future of P2E. #avocadodao pic.twitter.com/mdAH9MzpHZ — Avocado Guild 🥑 (@Avocadoguild) November 24, 2021 Avocado Guild is essentially a P2E blockchain gaming guild that leverages various successful game titles in order to support the gamers. Blockchain gaming has been a big deal this year and according to a recent study, a majority of software engineers dedicated to the realm of games are beginning to incorporate blockchain technology. “At the heart of every NFT player is the desire to succeed and lead a better life,” the Avocado Guild website details. “Avocado Guild (AG) is a play-to-earn guild that aims to unlock life-changing opportunities and rewarding experiences for its community members.” According to the organization, the Series A financing was led by Animoca Brands and QCP Soteria Node. In addition to QCP Soteria Node and Animoca Brands, Binance Smart Chain, Goldentree Asset Management, Polygon Studios, Three Arrows Capital, and Solana Ventures participated in the financing round. According to Avocado Guild, the organization aims to expand to different P2E blockchain games and also become a decentralized autonomous organization (DAO) called Avocadodao. Play-to-earn blockchain gaming has been a hot subject this year and many believe it is the future of online and multiplayer gaming, while many others disagree with that vision. Ubisoft mentioned blockchain gaming in a recent earnings report and the executive vice president of gaming at Microsoft recently addressed NFT gaming. Game giant Square Enix has been contemplating entering the blockchain gaming industry and Morgan Stanley believes the metaverse is the next big investment theme. What do you think about Avocado Guild raising $18 million and its plans to become a DAO? Let us know what you think about this subject in the comments section below. View the full article

The Inter-Miami CF (IMCF) Major League Soccer (MLS) star Kieran Gibbs has announced the player plans to convert half of his salary into bitcoin. Gibbs will leverage the crypto finance firm XBTO in order to convert his salary and avoid heavy fees. Inter-Miami CF’s Left-Back Kieran Gibbs to Get Half of His Earnings Converted to Bitcoin The MLS player Kieran Gibbs has announced his intentions to convert half of his salary into bitcoin (BTC). Gibbs plays as a left-back for IMCF and announced his decision to play for the David Beckham-owned team at the end of March 2021. Gibbs, 31, will utilize the crypto finance firm XBTO in December 2021 in order to convert 50% of his USD salary into BTC. XBTO says Gibbs won’t be charged conversion fees and the funds will be sent to his bitcoin wallet. XBTO says that it has a lot of experience dealing with complex crypto conversions and gaining access to liquidity. The company highlights that it also has its own ESG compliant mining operation which gives the company access to freshly mined bitcoins. In a statement sent to Bitcoin.com News, the IMCF star left-back Gibbs explained that he has been a bitcoin supporter for a while. “I’ve been a fan of bitcoin and the crypto space for some time now, and I believe they have the ability to break down huge social and economic barriers — crypto is for everyone,” Gibbs detailed. “I hope my partnership with XBTO can further the awareness and education of cryptocurrencies and their tremendous potential to positively impact global societies,” the soccer player added. Gibbs follows a slew of athletes turning to crypto. Many individuals such as Green Bay Packers quarterback Aaron Rodgers, Carolina Panthers offensive lineman Russell Okung, Los Angeles Angels Shohei Ohtani, Argentinian soccer star Lionel Messi, American professional stock car racing driver Landon Cassill, New York Giants running back Saquon Barkley and many more are choosing to be paid in crypto for marketing deals or salary conversions. What do you think about the IMCF left-back Kieran Gibbs planning to convert 50% of his salary into bitcoin? Let us know what you think about this subject in the comments section below. View the full article

Best known for creating the augmented reality (AR) mobile games Ingress and Pokémon Go, the software company Niantic revealed it has partnered with the bitcoin rewards company Fold. The two companies unveiled a new AR game that allows people to earn bitcoin in the metaverse. Bitcoin Rewards Firm Launches Fold AR The bitcoin rewards application Fold has announced a new game called Fold AR, a game that is available to users leveraging the Fold mobile application. In order to develop the game and further the metaverse, Fold partnered with the popular American software company Niantic. Fold AR “allows users to earn bitcoin and in-app benefits by exploring their physical surroundings.” The initial Fold AR rollout started on Tuesday, and the team will allow a small fraction of users to test the game for a limited time each day. “This is the easiest, most fun way to get your first piece of bitcoin,” Fold’s CEO Will Reeves said in a statement. “Anyone can use our app to earn bitcoin and other rewards by exploring the world around them. For us, it’s always been important to make participating in the bitcoin economy easy for anyone, regardless of education or technical expertise.” Niantic is well known for producing the AR mobile games Ingress and Pokémon Go. Ingress released in 2013 has been downloaded over 20 million times globally and in 2021, Niantic introduced a subscription service to Ingress. However, the free version of Ingress is still available, and it’s still one of the most well known AR games today. Niantic also developed the popular AR mobile game Pokémon Go which has roughly 147 monthly users worldwide. In 2020, Pokémon Go raked in $6 billion in revenue and the game’s been downloaded more than a billion times. “We see a future where our platform technology and AR tools pave the way for new entertainment experiences and real-world connections,” Niantic executive Meghan Hughes stated. “Games always help us push the boundaries of technology and allow us to incubate some of our most audacious thinking, but we see incredible opportunity in multiple categories including payments. Working with Fold, which has always been at the forefront of making bitcoin accessible, is a perfect collaboration for Niantic and a great use case for augmented reality.” What do you think about Fold and Niantic partnering to launch Fold AR with bitcoin rewards? Let us know what you think about this subject in the comments section below. View the full article

PRESS RELEASE. The gaming business is undergoing a revolution thanks to the advent of blockchain technology. Because of this, it’s giving developers a new way to engage the audience with capabilities that were previously unavailable. The Play-To-Earn (P2E) concept, in which gamers’ are rewarded for their time with tokens that can be exchanged for real money, is already commonplace in the gaming world. In this industry, the GameFi model represents a huge shift from the past, when in-game assets were restricted to centralized protocols and players were prohibited from trading their digital assets outside of the platform. But in recent years, the P2E business model has gained enormous popularity, particularly in developing countries where local employment and opportunities are limited, but also where the vast majority of people have access to basic electronic gadgets and the internet. MetaGods is one of the projects that is enhancing the Play-To-Earn model. It is the world’s first 8-bit action role-playing game built on the blockchain, as it incorporates innovative game mechanics that are at the forefront of the ongoing GameFi revolution. Players are able to customize their character NFT avatars and gain access to unique characters and abilities. Along with combating deadly creatures, the MetaGods in-game economy also enables users to exchange virtual products with the tokens, and allows them to earn real money for their experiences in the epic dungeon boss fights. MetaGods GameFi Model To maximize revenue, MetaGods GameFi model enables users to stake platform tokens directly through the game’s user interface. They will then be able to earn the in-game token to upgrade their character NFTs or buy better weapons and legendary loot. This model will also incorporate a strong social component through the use of GameFi mechanics. MetaGods features casual and hardcore game types. Casual gamers can explore the game’s universe and farm thanks to the game’s play-to-earn aspects. NFT permadeath is introduced in Hardcore, although APY and legendary loot rates are increased. The real fun begins in this mode. For seasoned gamers, hardcore mode amplifies the stakes. Winners earn items of increasing rarity and value, but must risk their best characters in order to survive. This strategy, a first in the industry, adds to the game’s suspense and adventure. These are only the beginnings in the realms of Atlantis and Zion. Additional gameplay elements will be disclosed in the near future! For the last quarter of 2021, MetaGods is now concentrating its efforts on the game trailer, Early Access Dungeons, DeFi farming, and Generative NFT Characters. MetaGods Tokens $MGOD and $RELIC are the two digital tokens that make up MetaGods’ ecosystem. Using the $MGOD token, players can purchase adventure packs, which include characters, weapons, and consumables. To enter raids, tournaments, and other special events, it will be utilized as an admission fee. Payment for marketplace transactions will also be made in $MGOD. Meanwhile, the $RELIC token will be used to buy consumables and engage in marketplace activity in the game. Tokens can be earned over time through staking, and will flourish in the largest metaverse economy. In-game merchant mechanics will assist steady the pricing. MetaGods Raised $3M In order to bring blockchain technology to a fast-growing gaming sector and transform the non-fungible tokens market, a number of investors and partners, including BoxMining, ABV, Cinchblock, CoinUnited.io, Magnus Capital, Raptor Capital, and Faculty Capital, have joined the effort and contributed $3 Million to MetaGods. Thanks to this amazing group of investors, they now have the momentum and industry recognition they need to continue forward with their plans to build out the best game on the blockchain. About MetaGods MetaGods is an 8-bit, play-to-earn action RPG where players fight against the gods on the path to ascension. Each character NFT is created by the union of mortals, demigods, and titans. They will team up with each other and fight epic bosses, while slowly becoming true gods themselves. The game works with a dual token system. The $MGOD and $RELIC are the two tokens of the platform. $MGOD is used as the governance token of the project and can be used to enter special events. $RELIC is an earnable in-game currency that supports the play-to-earn structure of MetaGods. Website | Twitter | Discord | Telegram | Announcements | Reddit 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 non-fungible token (NFT) project the Origyn Foundation announced on Tuesday the team received a strategic investment of $20 million from a myriad of investors. Hilton hotel heiress Paris Hilton participated in the funding round alongside firms like Polychain Capital and Table Management. Origyn Foundation Secures $20 Million NFT marketplaces and web platforms have seen a lot of investments over the last year as venture capitalists and venture financing companies have poured millions into these projects. On November 23, the Switzerland-based non-profit NFT project Origyn Foundation revealed it has secured $20 million from strategic investors. According to the announcement, after the financing Origyn Foundation has a valuation of around $300 million. The private funding round was financed by Bill Ackman’s Table Management, Polychain Capital, Coinko, Vectr Ventures, Carter Reum, Div Turakhia, and GD10 Ventures. Additionally, the popular socialite and entrepreneur, Paris Hilton, also joined in on the funding round. Origyn says the financing will help the team launch “verticals to market in the art, collectibles, digital media, and luxury sectors.” Origyn leverages Dfinity’s Internet Computer protocol and the project is led by the founding partners and council members Gian Bochsler, Vincent Perriard and Mike Schwartz, and its CEO Daniel Haudenschild. Additionally, the capital raise will bolster new industry partners and research and development as well. The project operates industry verticals such as Origyn Art, Origyn Collectibles, Origyn Digital Media and Origyn Luxury. “We’re incredibly fortunate and excited to include so many influential names in this funding round,” Daniel Haudenschild the CEO of Origyn Entreprise SA said in a statement. Origyn is unique in what it brings to this world. It’s a sign of support for what Origyn is trying to achieve—using technology to solve for identity, authenticity, and proof of ownership. Our partners have seen the opportunity we provide to unlock value for owners and creators,” the Origyn executive added. Origyn esteemed backer, Paris Hilton, has been into cryptocurrencies and non-fungible token (NFT) assets for quite some time. During the first week of April, Hilton said she was excited about the future of bitcoin and confirmed she was long on crypto. At the end of October, Hilton listed a few of her NFTs to sell on the new Sotheby’s Metaverse Marketplace. What do you think about Origyn securing $20 million from strategic investors? Let us know what you think about this subject in the comments section below. View the full article

The chairman of Australia’s Securities and Investments Commission (ASIC) says crypto is “being driven by extraordinary consumer and investor demand,” noting that “The implications for consumers are potentially huge.” The securities regulator is currently working with lawmakers to develop rules for cryptocurrencies. Regulator Sees ‘Extraordinary Consumer and Investor Demand’ for Crypto Australian Securities and Investments Commission (ASIC) Chair Joe Longo talked about cryptocurrency at the Australian Financial Review’s Super & Wealth Summit Monday. “Consumers should approach investing in crypto with great caution,” he said, emphasizing its lack of investor protection. However, Longo opined: Crypto is on our doorstep, here and now, and being driven by extraordinary consumer and investor demand. The implications for consumers are potentially huge. While noting that the securities regulator is working with lawmakers to develop rules for cryptocurrencies, he stressed that many crypto assets are currently unregulated so investors are on their own when investing in them. “At present many crypto assets are probably not financial products,” he explained. “ASIC has already provided some guidance on exchange-traded funds linked to crypto assets — they at least are financial products, and traded on a licensed exchange, so there will be some protection there.” Nonetheless, the ASIC chief cautioned: For the most part, for now at least, investors are on their own. Earlier this month, Commonwealth Bank of Australia (CBA or Commbank), the country’s largest bank, announced that it will start allowing some clients to buy, sell, and hold cryptocurrencies directly using its app. This pilot program is in partnership with cryptocurrency exchange Gemini. The bank’s CEO subsequently said that although there are risks in participating in crypto, there are bigger risks in not participating. The ASIC chairman noted: The fact Australia’s largest bank is already proposing a means of crypto exposure for its retail customers is telling. Yes, it’s only a pilot project, but the overall direction is clear. This debate is no longer on the fringes of the financial services industry. At the same conference Monday, the Liberal Party Senator for Victoria, Jane Hume, also spoke about cryptocurrency. She said we must acknowledge that crypto is not a fad, adding that decentralized finance (defi) presents huge opportunities. What do you think about the Australian securities regulator’s comments? Let us know in the comments section below. View the full article

Ripple CEO Brad Garlinghouse says that he expects the lawsuit over XRP by the U.S. Securities and Exchange Commission (SEC) to come to a conclusion next year. The executive explained: “We’re seeing pretty good progress despite a slow-moving judicial process.” Ripple’s CEO Is Hopeful the SEC’s Lawsuit Over XRP Will Conclude Next Year Ripple CEO Brad Garlinghouse discussed the lawsuit over XRP by the U.S. Securities and Exchange Commission (SEC) in an interview with CNBC Monday. Garlinghouse said he expects the lawsuit to reach a conclusion next year, elaborating: We’re seeing pretty good progress despite a slow-moving judicial process. “Clearly we’re seeing good questions asked by the judge. And I think the judge realizes this is not just about Ripple. This will have broader implications,” the Ripple executive added. The SEC sued Ripple, Garlinghouse, and co-founder Christian Larsen in December last year, alleging that they sold $1.3 billion worth of the XRP tokens in an unregistered securities offering. However, Ripple and the executives argue that XRP should not be considered a security. Amid the lawsuit with the SEC, Ripple published a proposal for a regulatory framework for cryptocurrencies last week called “A Real Approach to Cryptocurrency Regulation.” Garlinghouse explained that the “proposed policy framework is a three-pronged approach of what can be done now,” noting that it is the result of Ripple’s “direct interactions with regulators and bipartisan policymakers.” The Ripple CEO has repeatedly said that the SEC has given no clarity on crypto regulation. Garlinghouse is not the only one who sees the SEC v. Ripple case making good progress. In October, the CEO of the Nasdaq-listed cryptocurrency exchange Coinbase, Brian Armstrong, said that the SEC v. Ripple case “seems to be going better than expected.” Coinbase delisted XRP in January, soon after the SEC launched its lawsuit against Ripple and the two executives. What do you think will be the outcome of the SEC lawsuit against Ripple and its executives over XRP? Let us know in the comments section below. View the full article

U.S. football Star Odell Beckham Jr. is taking his new salary in bitcoin and is giving away $1 million in the cryptocurrency in partnership with Square’s Cash App. “To all my fans out there … I’m giving back a total of $1M in BTC right now,” he wrote. Football Star Odell Beckham Jr. Will Take His New Salary in Bitcoin and Is Giving Away $1 Million in the Crypto Odell Beckham Jr., also known as OBJ, announced via Twitter Monday that he is taking his new salary in bitcoin via Square’s Cash App. He also told his 4.1 million Twitter followers that he is giving away $1 million in bitcoin. OBJ is an American football wide receiver for the American National Football League (NFL)’s Los Angeles Rams. He signed a one-year deal with the Rams two weeks ago after the Cleveland Browns released him. According to reports, his contract comes with a base salary of $750,000 and a $500,000 signing bonus, with another $3 million available to earn in the form of team-based incentives. At the time of writing, some people on Twitter have posted screenshots of them receiving bitcoin from Odell Beckham Jr. Most people received about $20 in BTC. Last month, Green Bay Packers quarterback Aaron Rodgers also said that he is taking a portion of his salary in bitcoin. In addition, he also gave away $1 million in BTC to his fans in collaboration with Cash App. Cash App also partnered with American rapper and hip hop artist Megan Thee Stallion to give away $1 million in bitcoin on Twitter in December last year. A growing number of professional athletes are asking to be paid in bitcoin, including Russell Okung, Tom Brady, Saquon Barkley, and Sean Culkin. Last week, the Perth Heat, a major baseball team in the Australian Baseball League, announced that it will operate on a bitcoin standard. The team said: “Perth Heat will pay players in bitcoin, pay staff in bitcoin, accept bitcoin payments for sponsorships, merchandise, and ballpark concessions, [and] hodl bitcoin on the club’s balance sheet.” What do you think about Odell Beckham Jr. getting paid in bitcoin via Cash App and giving away $1 million in BTC? Let us know in the comments section below. View the full article

Nowadays, there are so many different viable ways of earning money through the usage of cryptocurrencies. In the past, many traders would have preferred to simply hold on to their coins or ‘hold’ for as long as possible in order to get substantial returns on their investments. However, as time went on, new methods such as mining, staking, farming, and more emerged through which many are now earning much more comparative to their previous amounts. What is the DeFi Yield Protocol? The DeFi Yield Protocol (DYP) is a one-of-a-kind platform which provides solutions pertaining to staking, yield farming, and also non-fungible tokens (NFTs). It allows users to successfully leverage DYP’s sophisticated trading capabilities and tools in a seamless fashion. Simply put, DYP enables its users to provide liquidity as well as be rewarded for their efforts. The rewards can come via ETH, for instance. Concurrently, the platform is also working towards maintaining its token price stability in addition to offering security for the end users via the integration of its ‘anti-manipulation’ aspect. New pools The DYP has hereby informed everyone that the availability of new pools for the purposes of farming, staking and buyback on BSC (Binance Smart Chain) have now been launched. Every user is now eligible to earn 50% APR provided that they utilize the staking pools. Furthermore, the users can earn 100% APR should they choose to utilize the buyback pools, and a maximum of 500% APY if the farming pools are used. The information provided below is a summary of the main earning methods provided by DYP to its users. DYP Farming Farming has quickly become one of the most popular and common methods for earning an income through cryptocurrencies. For those interested in farming with DYP, they would thus need to have their liquidity be removed and their deposited assets be retrieved. This method is useful for those who wish to both stake and farm their assets simultaneously, as users can theoretically stake their DYP tokens and use other altcoins such as BUSD or ETH for farming purposes. Also, using a single asset, liquidity is automatically added to PancakeSwap V2 and the Staking contract receives a deposit via the utilization of one asset. Keep in mind that at least one supported asset must be utilized in order to start earning, and these include but are not limited to BNB, CAKE, BUSD, ETH and more. After this, the users will then be eligible to earn DYP/ETH/WBNB as rewards. In order to successfully maintain the token price stability, the smart contract will attempt to convert iDYP payouts to WBNB every 24 hours. Should the iDYP price be influenced by over 2.5%, then the highest iDYP amount that is not impacting the price would be switched to WBNB, with the leftover amount awarded in the following day’s prizes. Furthermore, if there are still any undistributed iDYP rewards after a week, DYP governance shall then vote upon whether the leftover iDYP would be distributed to the different token holders or if it will be burnt. Keep in mind that every burned token shall be taken out of circulation. Additionally, when the users unstake, they shall obtain the complete amount in the original deposit asset by burning LP tokens. DYP Staking Users are also able to stake their DYP tokens as previously mentioned. There is no Impermanent Loss either. In order to begin earning, the users need to allocate DYP tokens into the staking contract. DYP also allows the users to pick between two staking methods, with payouts ranging from 25% APR to 50% APR, depending on the lock duration, which can range from 0 days to 90 days. Moreover, the ‘REINVEST mechanism’ is included into the staking pools, allowing users to automatically add their daily rewards to the staking pool. Additionally, the ‘DYP Referral’ programme is provided to the users too, wherein if the users refer DYP to their friends, then they will immediately receive 5% of their profits every time they stake DYP. The referrals also do not involve any gas fees. DYP BuyBack One of the main reasons as to why the users might choose this option is because it is possible to earn 100% APR in DYP when they deposit CAKE, BTCB, BUSD, ETH, or WBNB. To begin earning, the users are required to deposit at least one of the supported assets into the corresponding Buyback contract. Afterwards, all assets would be converted into DYP plus iDYP and then transferred into a staking contract automatically. Moreover, the prizes are delivered electronically and can be redeemed on a daily basis. The users are also eligible to get the entire deposited sums (in DYP) when they withdraw. Launch and overall success When the above-mentioned information and processes are taken into account, it becomes clear to see as to why and how DYP has managed to gain so much traction. Binance Smart Chain remains one of the top choices for numerous individuals involved in the cryptocurrency and blockchain sector, and so the DeFi Yield Protocol secured a much-needed win in the eyes of its supporters thanks to the successful launch of the new pools. As of this moment, over $15 million were deposited into these new pools in less than a day after the launch occurred. Additionally, DYP managed to pay 15,611 AVAX, 7,641 BNB and 9,009 ETH to its respective users thereby bringing the total to more than $44, 314,000, which makes it clear to see as to why so many remain bullish on this platform today. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

The founder of Africa-focused media and investment company Footprint to Africa, Osita Oparaugo, has urged governments on the continent to embrace cryptocurrency. Africa Must Not Be Left Behind Osita Oparaugo, founder of Footprint to Africa, has argued that a timely embrace of cryptocurrencies by African governments would be beneficial to the continent’s growth prospects. In his remarks published by the Vanguard, Oparaugo, who was co-host of a Decentralized Finance (defi) event in Nigeria, suggested that African countries cannot afford to lag behind when it comes to crypto. After noting the impact of cryptocurrencies and blockchain on global finance, Oparaugo explained why African governments must get on board quickly. He said: Cryptocurrency and digital money will eventually unite the world and the earlier African governments embrace it, the better for the continent’s growth. Africa can’t afford to play catch-up on blockchain technology; it’s the future. To back up his prediction about the future of finance, Oparaugo used Twitter’s recent announcement that it will enable users to tip each other in bitcoin as an example. The Footprint to Africa founder also made reference to comments made in the past by U.S. billionaire Mark Cuban. In those comments, Cuban expressed his belief that defi would pose a challenge to traditional banks. Despite the advocacy and pleas by crypto-supporting individuals like Oparaugo, African governments continue to shun cryptocurrencies. The few countries that have embraced blockchain have instead chosen to create central bank digital currencies. Do you agree with Oparaugo’s prediction about the future of finance? Tell us what you think in the comments section below. View the full article

Non-fungible token (NFT) sales have dropped considerably during the last month as cryptocurrency values have seen significant losses in recent times. NFT sales saw a quick spike when a number of crypto assets neared all-time price highs in mid-November, but sales quickly plummeted back down following the crypto market downturn. A Number of NFT Sales Slide Following Crypto Market Downturn Throughout the year, NFTs have seen massive demand and markets have processed billions of dollars in sales. In the midst of the all-time highs bitcoin, ethereum, and numerous other crypto assets saw in mid-November, NFT sales regained momentum after a downward slump in sales since October 24. The spike in NFT sales took place on November 15 and lasted only 24 hours. Since the end of October, the number of NFT sales dropped 28.79% according to market metrics from nonfungible.com. Despite the number of NFT sales sliding, the U.S. dollar value of sales stemming from October 24 until today is not such a drastic plunge, only down 16.73%. The drop over the last 30 days can be seen across popular NFT marketplaces and some of the most popular NFT collections. For instance, during the last month, Opensea sales have dropped 29.22% and the number of traders on Opensea also slid by 15.32%, according to dappradar.com statistics. Two Solana NFT marketplaces saw sales dive bomb this past month as Magic Eden saw sales drop by 11.28%, and Solana Art sales dipped by 68.36%. NFT marketplaces like Superrare sales are down 33.56% and Rarible lost 20.09% this past month. The NFT platform Foundation saw sales drop by ​​18.47%, NFT sales on Pancakeswap have slipped 90.61%, and after the Tezos-based marketplace, Hic et nunc returned, sales are down 46.97% in 30 days. The Flow-based NBA Top Shot’s sales have slipped this past month as well and are down 11.33% on Tuesday. However, not all NFT platforms that allow people to buy and sell digital collectibles have seen sales drop. The blockchain-based game Axie Infinity’s NFT sales are up 41.35% and the number of Axie Infinity traders has jumped 42.94% last month. The NFT collection Cryptopunks has seen sales rise over the last month gaining 274.35% since October 24. Wax blockchain sales on the Atomicmarket NFT marketplace are up 313.7% in 30 days and the Ethereum-based metaverse world Decentraland’s NFTs sales are up 339.09% this past month. Meanwhile, specific NFTs are still selling for millions or hundreds of thousands of dollars in crypto depending on the collection. Cryptopunk 9,998 sold this month for $529.77 million at the time of sale, or 124,450 ether. An NFT called “A Coin for the Ferryman” sold for six million dollars or 1,330 ether. Approximately 20 NFTs sold for over $1 million during the last 30 days according to dappradar.com statistics. Being the most expensive digital asset sold in 30 days, Cryptopunk 9,998 represented a large portion of the $1.8 billion in Ethereum-based NFT sales last month. Although the Cryptopunk 9,998 sale was controversial, and some didn’t consider it a sale at all. The top NFT collections during the last 24 hours include JRNY NFT Club V2, Axie Infinity, Chain Runners NFT, The Sandbox, Wolfgame, and Cryptopunks, respectively. What do you think about the slump in NFT sales during the last month? Do you think NFT sales are sliding because crypto markets have slipped in value? Let us know what you think about this subject in the comments section below. View the full article

The International Monetary Fund (IMF) has warned El Salvador against using bitcoin as legal tender due to various risks associated with cryptocurrency. The warning came one day after Salvadoran President Nayib Bukele announced his plan to build a “bitcoin city” powered by a volcano and financed by bitcoin bonds. IMF Says El Salvador Shouldn’t Use Bitcoin as Legal Tender The International Monetary Fund (IMF) warned El Salvador on Monday that the country should not use bitcoin as legal tender, citing various risks associated with the cryptocurrency. El Salvador is the first country in the world to adopt bitcoin as legal tender alongside the U.S. dollar which it has used for two decades. The country’s bitcoin law went into effect in September. Furthermore, El Salvador has purchased 1,120 BTC, according to Salvadoran President Nayib Bukele. The IMF regularly undertakes Article IV missions to member countries to consult with government officials before they request to use its resources. The IMF explained that for El Salvador, “The adoption of bitcoin as legal tender, the regulation and supervision of bitcoin services providers, and e-wallet Chivo were also discussed.” In its “Staff Concluding Statement of the 2021 Article IV Mission” for El Salvador, the IMF detailed: Given bitcoin’s high price volatility, its use as a legal tender entails significant risks to consumer protection, financial integrity, and financial stability. Its use also gives rise to fiscal contingent liabilities. Because of those risks, bitcoin should not be used as a legal tender. The IMF proceeded to recommend “narrowing the scope of the bitcoin law” and urged El Salvador to strengthen “the regulation and supervision of the new payment ecosystem.” The recent statement from the IMF came one day after President Bukele announced a plan to build the world’s first bitcoin city powered by a volcano and financed by bitcoin bonds. He noted there would not be any taxes in the bitcoin city except for value-added tax (VAT). “The plans to issue sovereign bonds and use the proceeds to buy bitcoin and fund infrastructure plans announced on November 20, occurred after the technical work of the mission concluded, and were not discussed with the authorities,” the IMF clarified. Commenting on the IMF’s statement, Bukele said: Although we obviously do not agree on some things, such as the adoption of bitcoin, the analysis it makes of our country is interesting. What do you think about the IMF advising El Salvador against using bitcoin as legal tender? Let us know in the comments section below. View the full article

The monetary authority of the euro area, the Eurosystem, has introduced a new framework for overseeing electronic payments, including services related to crypto assets. The new set of rules will complement upcoming EU regulations for cryptocurrencies and stablecoins. ECB Aims for Secure and Efficient Digital Payments Through Improved Oversight Following public consultations on the matter, the Governing Council of the European Central Bank (ECB) has approved a new oversight framework for electronic payments. The document has been published by the Eurosystem, which consists of the ECB and the national central banks of the EU member states that have adopted the common European currency, the euro. According to an announcement by the ECB, the single framework replaces other regulations within the Eurosystem’s existing oversight regime for payment instruments and complements its oversight mechanisms for payment systems. The bank noted that the framework has been designed to “make the current and future payments ecosystem safer and more efficient” as part of efforts to promote smooth payments on the Old Continent. The Eurosystem’s “oversight framework for electronic payment instruments, schemes and arrangements,” referred to as “Pisa,” will be employed to oversee entities enabling the use of payment cards, credit transfers, direct debits, e-money transfers, and electronic wallets. The framework will apply to services linked to crypto assets as well. The latter category includes businesses facilitating the acceptance of cryptocurrencies by merchants through card payments as well as digital wallet providers allowing users to send, receive, or pay with crypto assets via their products. Fabio Panetta, member of the ECB Executive Board, revealed that the Pisa framework will also cover digital payment tokens such as stablecoins. He commented: The retail payments ecosystem is evolving fast owing to innovation and technological change. This calls for a forward-looking approach in overseeing digital payment solutions. The European Central Bank has urged for rapid advance in terms of global oversight in the field of digital payments. “Internationally coordinated action will also have to be stepped up to cope with the challenges posed by global digital payment solutions and stablecoins,” the bank’s high-ranking representative insisted. Businesses Have to Comply With New Oversight Rules Within a Year Companies currently overseen by the Eurosystem are expected to comply with the recently adopted requirements by Nov. 15, 2022. Other entities that are now becoming subject to oversight will have a grace period of one year after they are notified about their updated obligations. All traditional and crypto service providers will have to file self-assessments and maintain contact with the regulatory bodies. The Eurosystem’s new oversight framework replaces a number of other documents issued previously by the ECB. The list includes the Harmonized oversight approach and standards for payment instruments (PI standards,) Electronic money system security objectives (Emsso), Oversight framework for card payment schemes, Oversight framework for credit transfer schemes, and the Oversight framework for direct debit schemes. The Eurosystem intends to cooperate with other authorities on the implementation of Pisa. The framework has been adopted in advance of forthcoming regulations regarding the status of cryptocurrencies and related activities within the EU such as the Markets in Crypto-Assets (Mica) proposal. The move also comes as the ECB progresses towards issuing its own digital euro currency, after launching the project’s investigation phase earlier this year. What’s your opinion about the adoption of the new oversight framework covering crypto services in the eurozone? Tell us in the comments section below. View the full article

PRESS RELEASE. Dvision has recently announced that it will be conducting the LAND sale for its digital estate that will be used in the Dvision Metaverse through tripartite cooperation with Binance NFT and NFTb, allowing its users to participate in the sale on three platforms with different sale structures. Dvision has revealed, that it will be offering 1,452 NFT Mystery Boxes through Binance NFT exclusively for Binance.com users. As the name suggests itself, the mystery box contains a random LAND NFT from the total LAND collection offered by Dvision. The users will be able to purchase the Mystery Box under a specified price with a probability to drop a common 1×1 LAND Lot or even a legendary 3×3 LAND Lot NFT. Furthermore, 1,495 LAND Boxes shall also be offered through an Initial NFT Offering (INO) on NFTb, where users can participate in highly sought after NFT drops by Metaverse projects such as Dvision and other NFT drops from celebrities and creators and games. It should be noted, that both on Binance NFT and NFTb, BUSD is going to be the main currency to make the NFT purchases. Lastly, 1,469 LAND Lots are being offered in Dvision’s Marketplace, where users can purchase a specified piece of LAND Lot using DVI tokens. Additional information will be provided later on once the countdown on the website eventually reaches its logical conclusion on November 24th, 2021. The LAND Sale is is expected to be the largest sale of Digital Estate on the Binance Smart Chain. What is Dvision? Dvision Network can be defined as a multichain metaverse platform that is officially built on top of Ethereum Network and further bridged to BSC (Binance Smart Chain). It is powered by DVI, the platform’s native token that provides utility as well as governance token throughout all platform pillars. Dvision is thus divided into three primary platform pillars, namely Meta-City, Meta-Space, and finally NFT Marketplace. Users can use LANDs (Meta-Space) in the metaverse to create their own respective content, which will subsequently be incorporated as an integral component of the Meta-City. In this case, user-created material is not restricted and may even be offered in varying forms such as that of commercial, gaming, entertainment as well as academic in-game content. The Final Countdown Dvision Network’s official site is now displaying the countdown to the LAND Sale, that will end at 8 PM KST on 24th November. The LAND Sale is being held for two Meta-Cities which will be launched in the Dvision Metaverse. These Meta-Cities are tentatively named as New York and Seoul. Furthermore, the LAND symbolizes the digital ownership and custody pertaining to the Meta-Space through users registered as NFT (BEP-721 on BSC). It is also a valuable asset for creating personalized virtual estate inside the Dvision Metaverse. Dvision has additionally produced the LAND Sale Teaser, which highlights the three-way collaboration between Binance NFT, Dvision, and NFTb. This partnership was formed with the goal of everyone involved ultimately benefiting from the collaboration and the trailer thus depicts the inauguration of the New York Meta-City. The LAND Concept in Dvision Metaverse As mentioned in their official disclosure, Dvision World, which is the current state of the developed product of Dvision Network, has never been planned to become an ending point for their metaverse. The release of the Dvision World serves as the main piece that was purported to bring together all different Meta-Cities through this universe, which is used to teleport to specific Meta-City. Hence, Dvision World is just the beginning that has set the commencement for the opening of 20 Meta-Cities, which will be owned by the users through the LAND (Meta-Space) ownership system. Unlike other metaverses, Dvision has introduced sustainable and interesting LAND allocation structure, which states that LAND lots in each Meta-City are distributed according to 40/40/20 system, where 40% is allocated for their Play-To-Earn model that allows users to engage in the combat mode to contribute to the LAND Purification process and earn DVI tokens, and 40% is allocated for the LAND Sale and remaining 20% is owned by the management for their brand-specific content introduction and per partner allocation. Apparently, this ongoing LAND Sale will commence the first phase of the metaverse revolution that is being initiated by Dvision Network. + Dvision Network official channels Website | Telegram| Twitter | LinkedIn| Naver Blog| Kakao 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 Blockchain Industry Coordinating Committee of Nigeria (BICCON), has said it is not lawful for Nigerian financial institutions to arbitrarily freeze or close bank accounts belonging to individuals or entities accused of trading cryptocurrency. Affected Crypto Entities Told to Seek Legal Advice In a public statement issued on November 22, BICCON — a coalition of Nigeria’s foremost cryptocurrency and blockchain advocacy groups — advises affected individuals and companies to seek legal advice and redress in courts where appropriate. The body also insists that no Nigerian organization, public or private, should be above the law. As previously reported by Bitcoin.com News, Nigerian financial institutions have been closing or freezing bank accounts of entities suspected of trading cryptocurrency since November 3. The institutions have claimed they are doing this in order to comply with the Central Bank of Nigeria (CBN) directive that was initially issued on February 5. However, despite these claims by banks, the blockchain committee insists it is questionable for the financial institutions to block or freeze accounts simply because the account holders are cryptocurrency traders. BICCON’s statement explains: We consider questionable the actions of deposit money banks (DMBs), nonbank financial institutions (NBFIs), and other financial institutions (OFIs) blocking, closing, and/or freezing the bank accounts of individuals and entities by the mere fact that these individuals and entities are involved in cryptocurrency trading or cryptocurrency-related transactions without more. It is not supported under the current laws of the Federal Republic of Nigeria. The statement also reiterates BICCON’s stance on a CBN directive that was initially used by financial institutions to justify the exclusion of crypto entities from the banking system. Only Nigerian Legislature Can Criminalize Crypto Trading Meanwhile, in the same statement, BICCON also uses the renewed spotlight on the Nigerian cryptocurrency industry to restate its belief that the CBN is encroaching on the law-making powers of the legislature. BICCON states: “Since 5 February 2021, a number of persons and entities accounts have been closed … Though as the regulator, the CBN has the statutory authority to delimit banking operations, but [the] ordering [of] banks and other financial institutions to freeze [or close] accounts suspected to be in use for cryptocurrency may not be supported by law. This is because there is currently no legislation by the National Assembly criminalizing or illegalizing trade in cryptocurrency in Nigeria.” The statement insists the failure to review the CBN’s circular “will set a dangerous precedent in the country.” The statement also suggests that while BICCON is against the “undue discrimination” against Nigeria’s blockchain & crypto industry, the body is willing to collaborate with concerned regulators, law enforcement agencies, and the government. What do you think of BICCON’s public statement? Tell us what you think in the comments section below. View the full article

Moonpay, a cryptocurrency payments service provider, has raised $555 million during its first funding round. Led by Tiger Global Management, this series A funding round propelled the valuation of the company to $3.4 billion, which will be used for expansion endeavors. The fiat-to-crypto ramp that Moonpay provides is key to several hundred wallets and services for onboarding users with fiat currency. Moonpay Snags $3.4 Billion Valuation Moonpay, a startup that specializes in processing payments to purchase cryptocurrencies, has raised $555 million in its first financing round. The series A financing round was led by Tiger Global Management and Coatue with participation from Blossom Capital, Thrive Capital, Paradigm, and NEA. With this round, the valuation of the company reached $3.4 billion. John Curtius, a partner at Tiger Global, stated: We spoke to many of the company’s customers during diligence who highlighted Moonpay’s compelling user experience and expressed conviction in the company’s market leadership. Moonpay has already established itself as an iconic company as it better enables the world to participate in the crypto economy. Expansion Plans and Functionality With these funds, Moonpay will reportedly start an expansion phase, investing in more developers for its team and planning to add more functions for its platform. The focus of the company is a suite of tools for customers. For cryptocurrency exchanges and wallets to provide fiat on-ramping services, they must comply with a series of rules that include Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. Moonpay claims to help take the hassle out of this process by providing a third-party solution so companies can focus on business while it takes care of KYC, payment processing, crypto liquidity and delivery, fraud prevention, regulatory licenses, ecosystem identity verification, and custom checkout flows. Matt Huang, Paradigm co-founder stated: Crypto is growing rapidly, but bringing aboard the next billion people requires services that make it even easier to access. MoonPay has built a simple and secure way for people globally to participate in this new economy. What do you think about Moonpay’s first funding round? Tell us in the comments section below. View the full article

On Monday, the mining firm Griid Infrastructure announced the company has secured a $525 million credit facility from the crypto firm Blockchain.com. According to the announcement, the credit facility will be a four-year term in order to increase the company’s mining capacity. Bitcoin Mining Infrastructure Firm to Increase Capacity With Help From Blockchain.com Cryptocurrency mining, and more specifically bitcoin (BTC) mining, has seen millions of dollars invested during the course of the year. Enterprise operations have inked massive deals with bitcoin mining rig manufacturers like Canaan, Bitmain, and Microbt for thousands of ASIC devices. A few large bitcoin mining operators have also begun constructing new facilities in order to increase capacity. On November 22, Griid Infrastructure announced the company has secured a $525 million credit facility from the company Blockchain.com. The financing will be used to increase mining capacity as well as “capitalizing on over 1,300 megawatts of available power from existing energy generation partners.” According to the announcement, Blockchain.com’s Institutional Markets team has crafted some of the largest credit facilities in the market. “Blockchain.com is an established leader in the digital asset space with unique knowledge into every aspect of the crypto ecosystem, including mining operations,” Trey Kelly, Griid’s CEO and founder explained in a statement. “Blockchain.com is an ideal capital partner as we strengthen our infrastructure and operations across our growing portfolio of bitcoin mining facilities,” the mining company’s CEO added. Griid is an American crypto mining infrastructure company that calls itself a “vertically-integrated bitcoin self-mining company.” The firm operates a portfolio of bitcoin mining data centers across the United States. Blockchain.com’s CEO Peter Smith explains that the company has worked with Griid for quite some time. “For the past two years we’ve worked closely with Griid to not just provide capital, but to be a partner invested in the growth of the business,” Smith said during the announcement. Blockchain.com’s deal with Griid follows the company raising $300 million at the end of March, increasing its valuation to $5.2 billion. In May, the crypto firm acquired an AI company called Artificial Intelligence Exchange and last August, Blockchain.com’s CFO hinted at the company going public in 18 months. Blockchain.com CFO Macrina Kgil also explained at the time that the company held BTC and ETH on its balance sheet. What do you think about Griid securing a $525 million credit facility from the crypto firm Blockchain.com? Let us know what you think about this subject in the comments section below. View the full article

PRESS RELEASE. Chimeras is announcing a brand new collection of NFT-based characters for sale on INO platforms and its marketplace. November 23rd, 2021, Kyiv, Ukraine – Play-to-Earn gaming metaverse Chimeras is launching a brand new collection of NFTs based on in-game characters. There are two types of characters in Chimeras’ in-game world – Chimeras and the Chosen ones. The new NFTs feature 20 of The Chosen characters, with a further 268 variations and different levels of stardom, resulting in 5360 new NFT characters in total who will be used and can be upgraded in the game. The Chosen are unique creatures that a Player can use for battles. A Player can get a Chosen by performing a ritual with a Magical Stone. There is no limit on the looks and skills of the Chosen: they look like people, demons, dragons. Every Chosen can be turned into NFT and sold so that a Player can earn with it too. A Player can upgrade the level of the Chosen by experience and unique sources earned in the battles. There are also runes and grades of the Chosen that can give the character more health or other skills. The grade and the level of the Chosen are irrelevant — a Chosen has to “eat” the particular number of other Chosen with a specific amount of stars. It is an adventurous journey for people who want to enjoy the game and earn. The first stage of the NFT sale has already begun. The collection will also go live for sale on NFT marketplaces Babylons.io at 12:00 pm UTC on Tuesday, November 23rd and tofuNFT at 12:00 pm UTC on Wednesday, November 24th. Also, stay tuned for the INO announcements on BullPerks and some other platforms and marketplaces. Keep an eye on Chimeras’ website here and socials for more detailed information. Chimeras is Developing the Play-to-Earn Space The launch follows a successful private funding round last month, which saw the Play-to-Earn project raise just over $2 million. Several well-known blockchain venture companies participated in the private round including Polygon, Master Ventures, AU 21, Poolz, BullPerks, X21, OIG Invest, Panda Capital, Shima Capital, LVT Capital, Otis Capital and Lotus Capital. The funds are being used to further the development of the leading Play-to-Earn platform. Chimeras also launched a successful IDO on 3 platforms towards the end of October 2021. The token forms the backbone of the in-game economy, allowing users to exchange in-game assets such as land and NFT-based items. Users can also spend CHIM on buying NFT-items, creatures making, buying the land plots, and NFT-items upgrade. Combined, these features put Chimeras at the forefront of the decentralized Play-to-Earn space. About Chimeras The Chimeras project is a Play-to-Earn metaverse that takes the Free-to-Play approach of allowing players to earn on the content they generate in-game and the actions and feats they accomplish. The core concept of Chimeras is a thrilling mobile game with integrated DeFi farming and NFT tokenization that revolves around a fantasy world filled with cuddly creatures – Chimeras. Chimeras includes a well-developed backstory that engulfs players with its lore. The vast fantasy world of Chimeras is populated with farmers, alchemists, merchants, killers, landowners, and socials. The islands and archipelagos of the metaverse stretch out in the middle of a boundless world ocean, with some islands having owners, while travelers and merchants surf the expanses of the universe in search of adventures and profitable deals. The game also includes combat elements, as warriors are eager to fight worthy rivals in arenas, while scientists compete for the breeding of the most amazing creatures in their laboratories. The team behind Chimeras has immense experience in the industry. This includes professionals in BlockchainDev, GameDev, and Marketing, all focussed on creating an entertainment crypto-game. More than 30 specialists implement cutting-edge practices to develop successful gaming solutions and focus on entertainment as the core throughout the entire gameplay. For more about Chimeras and the launch of its new NFTs, visit their main website here. Follow Chimeras on Twitter Join the Chimeras community on Telegram Stay up-to-date through Chimeras’ Announcement Channel Read the Chimeras blog on Medium Media Contact Details Contact Name: Yuliya Prekrasnova Contact Telegram: @ChimerasPR 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 Nigerian startup behind the social payment app for cryptocurrency and fiat, Kurepay, says the Central Bank of Nigeria (CBN)’s current crackdown on crypto entities has forced it to suspend operations in Nigeria. ‘Horrible’ Year for Crypto Adoption According to a report by the Cryptoassetbuyer, this suspension of operations is set to commence at the start of the first quarter of 2022. At that time, Kurepay, whose app harnesses blockchain technology, will begin to restrict its business to over-the-counter (OTC) and crypto consulting services. Commenting on the startup’s plan to quit the West African country, Kurepay CEO Abikure Tega is quoted lamenting what he calls a horrible year for cryptocurrency adoption and expansion in Nigeria. He said: This year has been quite horrible for cryptocurrency adoption and expansion in Nigeria as CBN continues to take drastic measures to slow down and frustrate Nigeria’s growing ability to participate in what has been the fastest-growing emerging industry in the world. Tega added that when the CBN denied crypto companies access to the banking ecosystem, this resulted in the closure of many cryptocurrency businesses. The same blockade also forced other companies to reduce their operations to skeletal flow using a P2P system. According to the CEO, the central bank’s February 5 directive had forced Kurepay to switch to an agency network model which enabled customers to transact directly with each other. Current CBN Crackdown the Final Straw However, since the beginning of November 2021, the CBN has upped the ante against cryptocurrency traders and is now targeting entities and individuals that provide P2P platforms or services to customers who buy and sell crypto. As previously reported by Bitcoin.com News, the CBN’s renewed crackdown has seen some banks arbitrarily freeze bank accounts of individuals suspected of trading cryptocurrency. For Kurepay, such targeting of platforms that enable P2P transactions proved to be the final straw as Tega explained: The recent show of lowliness from CBN in its recent closure of bank accounts in Nigeria with connection to crypto transactions affecting most of Kurepay agent partners in the name of regulation is unfair and frustrating. Due to this recent clampdown which we find difficult to understand considering that Nigeria is not a lawless country, Kurepay, Africa’s foremost social payment app for cryptocurrency & fiat — is announcing the suspension of business operations in Nigeria. In addition to restricting its business to OTC and crypto consulting services, Tega said Kurepay is plotting “to operate a US-based company in order to innovate in a more business-friendly environment.” The CEO argues that such a move enables Kurepay to operate lawfully and without worrying about CBN directives. What are your thoughts about this story? Tell us what you think in the comments section below. View the full article

Australian Senator Jane Hume says we need to acknowledge that cryptocurrency is not a fad, adding that there are huge opportunities in decentralized finance (defi). “We should tread cautiously, but not fearfully,” she said, emphasizing that “Australia mustn’t be left behind by fear of the unknown.” Australian Senator Says Crypto Is Not Going Away, Sees ‘Incredible’ Opportunities in Defi Australian Senator Jane Hume talked about cryptocurrency and decentralized finance (defi) Monday during her speech at the Australian Financial Review Super & Wealth Summit in Sydney. Hume is Australia’s minister for superannuation, financial services, and the digital economy. She is also the country’s minister for women’s economic security. Referencing a recent Australian Senate Committee report that claims 17% of Australians are investing in cryptocurrency, Hume stressed: “This is an asset class that has captured hearts and minds, but beyond that — whatever you might personally think — it’s a technology that’s not going away any time soon.” The senator emphasized: So as an industry, and as a government, we need to acknowledge this is not a fad. We should tread cautiously, but not fearfully. This was not the first time Hume said cryptocurrency is not a fad. In May, she similarly stated: “I would like to make something clear: cryptocurrency is not a fad. It is an asset class that will grow in importance.” During her speech Monday, Hume also talked about the country’s biggest bank, Commonwealth Bank of Australia (Commbank or CBA), getting into crypto. The bank announced early this month that it has partnered with cryptocurrency exchange Gemini “to allow its customers to hold and use bitcoin and other cryptocurrencies via its 6.5 million‑user banking app,” the senator described. “This will make CBA the first Australian bank — and one of just a handful of banks worldwide — to offer customers this sort of access.” In addition, Commonwealth Bank CEO Matt Comyn said last week that while “We see risks in participating” in crypto, “we see bigger risks in not participating.” Hume also discuss decentralized finance (defi). “Decentralized finance underpinned by blockchain technology will present incredible opportunities,” she said, stressing that “Australia mustn’t be left behind by fear of the unknown.” The senator opined: Decentralized Finance or defi is an emerging and rapidly evolving area of financial technology that presents huge opportunities. What do you think about the comments by Senator Jane Hume? Let us know in the comments section below. View the full article

Citigroup is reportedly looking to hire 100 people for its new crypto team. “We believe in the potential of blockchain and digital assets including the benefits of efficiency, instant processing, fractionalization, programmability, and transparency.” Citigroup Growing Its Crypto Team Citigroup is reportedly looking to hire 100 people to grow its digital asset team within its institutional business, Bloomberg reported on Monday, citing a person familiar with the matter. Puneet Singhvi will be the firm’s new head of digital assets within Citi’s institutional client group, according to a memo to staff seen by Bloomberg News. Singhvi was previously head of blockchain and digital assets within Citi’s trading business. In his new role, he will report to Emily Turner, who oversees business development for the broader group. Turner explained in the memo to staff: We believe in the potential of blockchain and digital assets including the benefits of efficiency, instant processing, fractionalization, programmability, and transparency. “Puneet and team will focus on engaging with key internal and external stakeholders including clients, startups, and regulators,” Turner noted. They will provide expertise and a strategy for how different Citi businesses — including trading, securities services, investment banking, and treasury and trade solutions — will use blockchain and digital assets. Citigroup stated in an emailed statement, “We are focused on assessing the needs of our clients in the digital asset space,” elaborating: Prior to offering any products and services, we are studying these markets, as well as the evolving regulatory landscape and associated risks in order to meet our own regulatory frameworks and supervisory expectations. In addition, the publication noted that Shobhit Maini and Vasant Viswanathan will be co-heads of blockchain and digital assets for Citigroup’s global markets business. They will report to Biswarup Chatterjee, head of innovation for that business. Noting that the firm’s institutional division’s digital asset efforts are a continuation of its work with blockchain, Turner stressed that they “are consistent with our strategy to research emerging technologies, collaborate with partners to develop solutions and implement new capabilities enabled by robust governance and controls.” Citigroup launched its digital asset division in June to provide clients access to cryptocurrencies. By August, the firm had filed to trade bitcoin futures and was waiting for regulatory approval. “Our clients are increasingly interested in this space, and we are monitoring these developments,” the firm was quoted as saying. What do you think about Citigroup hiring 100 people for its crypto division? Let us know in the comments section below. View the full article

While crypto-asset markets have shed billions during the last week, the top meme tokens coins by market capitalization have seen deeper losses than most coins. The top two meme digital assets dogecoin and shiba inu have seen double-digit losses during the last seven days. The top meme tokens coins by market capitalization today are worth $60.7 billion losing 3.5% in value over the last 24 hours. Dogecoin and Shiba Inu Lose Double-Digits Last Week During the course of the year, meme-based crypto assets were all the rage and many of them have gained significant value in 2021. The top two meme-based cryptocurrencies dogecoin (DOGE) and shiba inu (SHIB) were once top ten contenders in terms of market capitalization. However, today, after suffering some losses both dogecoin and shiba inu have dropped out of the top ten standings. Dogecoin (DOGE) is the largest meme-based crypto asset in terms of overall valuation. DOGE is also the 11th largest market cap out of 10,975 coins in existence today. The crypto asset has a market valuation of around $28.9 billion as dogecoin has shed 16.7% in value during the last week. Dogecoin trade volume has slid as well to $995 million DOGE swaps during the last 24 hours. DOGE is swapping for $0.220 per unit at the time of writing and is over 69% lower than its all-time high (ATH). DOGE captured an ATH of around $0.731 on May 8, 2021, around seven months ago. Despite the losses dogecoin still commands a 12-month return of around 6,200%. Shiba inu (SHIB) today is the 12th largest market capitalization and the second largest in terms of meme-based coins. SHIB has lost 18.1% during the last week and has a market valuation of around $23.8 billion. SHIB is down more than 3% today and is swapping for $0.00004395 per unit. The shiba inu price today is over 48% lower than the crypto asset’s ATH on October 28, at $0.00008616. At the time of writing there is $1.7 billion worth of global SHIB trade volume during the last 24 hours. Despite being down in recent times, 30-day stats show SHIB is still up 57%. Moreover, SHIB’s 12-month return is also far larger than DOGE’s with a 62,589,642% increase. Not all meme coins have been under this week as a slew of lesser-known meme-based crypto assets have seen double-digit gains. Jomon shiba (JSHIBA), shih tzu (SHIH), shibance token (WOOF), the doge NFT (DOG), and dogebonk (DOBO) have jumped 11% to 84.4% during the last week. DOBO’s 84% gains made the meme currency the top-performing meme-based asset during the last week. What do you think about the top meme coins and the meme-based crypto-economy losing value in recent times? Let us know what you think about this subject in the comments section below. View the full article

The U.S. and U.K. governments have “committed and agreed to heighten the focus on illicit use of cryptocurrency and ransomware,” the U.S. Department of Justice announced. According to the FBI, high crypto prices have partially made ransomware “incredibly lucrative for the criminals.” Governments Collaborate to Focus on Illicit Use of Crypto The U.S. Department of Justice (DOJ) announced Friday that Deputy Attorney General Lisa Monaco and officials from its National Security Division and Criminal Division met with U.K. Home Secretary Priti Patel in Washington, D.C., on Thursday. “In their meeting, both governments discussed their close cooperation against numerous threats to their countries’ collective security, including with respect to combating terrorism, cybercrime, and illicit finance,” the DOJ detailed, adding: Both the deputy attorney general and the home secretary committed and agreed to heighten the focus on illicit use of cryptocurrency and ransomware, as well as to continue the dialogue about emerging threats to national security. The U.S. government has been trying to combat ransomware attacks. In October, Monaco announced the launch of the National Cryptocurrency Enforcement Team, a DOJ initiative to tackle and prosecute “criminal misuses of cryptocurrency, particularly crimes committed by virtual currency exchanges, mixing and tumbling services, and money laundering.” In the same month, President Joe Biden said that the U.S. will bring together 30 countries to stop “the illicit use of cryptocurrency.” FBI Says Ransomware Lucrative Due to ‘Valuation of Virtual Currency’ In a hearing before the House Committee on Oversight and Reform last week, Bryan Vorndran, assistant director of the FBI’s Cyber Division, noted that high crypto prices are fueling criminal networks and ransomware actors. The hearing was part of a congressional investigation into multimillion-dollar ransomware attacks on major U.S. companies this year, including Colonial Pipeline Co. and the U.S. division of JBS Foods. “In the last six months, we have not seen a decrease in the amount of frequency of reporting of ransomware attacks,” Vorndran said, adding: We attribute that to the simple fact that it’s incredibly lucrative for the criminals. That’s partially due to the valuation of virtual currency, but it’s partially due to the vulnerability of our systems and in our infrastructure. Global Efforts Lead to Arrests and Seizures The U.S. government has recently taken action against some ransomware actors. In September, the U.S. Department of the Treasury sanctioned a cryptocurrency exchange for the first time as part of the whole-of-government effort to counter ransomware. Suex was allegedly “responsible for laundering ransoms.” Early this month, another crypto exchange was sanctioned. Chatex allegedly facilitated “financial transactions for ransomware actors.” In addition, two alleged ransomware operators — Ukrainian Yaroslav Vasinskyi and Russian Yevgeniy Polyanin — were sanctioned “for their part in perpetuating Sodinokibi/Revil ransomware incidents against the United States.” The DOJ also seized $6.1 million from Polyanin. National Cyber Director Inglis said last week that Polyanin’s arrest resulted from a collaboration between countries since the arrest occurred when he crossed the border into Poland. “Cyberspace is a borderless terrain, and therefore, as much as they can reach us we can reach them,” he opined, elaborating: If we bring allies to bear, we can use jurisdiction in places like Poland and Romania to apprehend these criminals and bring them to justice using the courts of law that exists in the West. In October, a coordinated strike involving Europol, Interpol, and the FBI led to the arrest of two “prolific” ransomware operators allegedly responsible for ransom demands of up to 70 million euros. Cryptocurrencies worth $1.3 million were seized. What do you think about the U.S. working with other countries to combat the illicit use of cryptocurrency? Let us know in the comments section below. View the full article

The crypto asset economy has been down in value over the last week as a great number of digital currencies shed significant amounts. The entire crypto-economy is down under the $3 trillion mark, hovering around $2.7 trillion across 10,970 cryptocurrencies. Bitcoin dominance is just above the 40% region while ethereum’s market commands 18.4% of the crypto economy on Monday. Analyst Notes a Few Possible Factors May Have Contributed to the Market’s Slide Digital currency markets have seen better days and on Monday, November 22, 2021, bitcoin (BTC) is down 9.7% during the last seven days. At press time, a single bitcoin is exchanging hands for just above the $58K per unit zone and the asset has a market valuation of around $1.11 trillion. Ethereum (ETH) has lost 7.4% this past week and is currently swapping for under $4,300 per ether. The biggest loser out of the top ten market caps this week was polkadot (DOT) with a 12.3% loss. Solana (SOL) lost the least amount of value dropping 6.7% and avalanche (AVAX) entered the top ten standings gaining 41.0% this week. In a note sent to Bitcoin.com News, Etoro’s market analyst Simon Peters explained that there were a few factors that may have contributed to the market’s downward drop. “Bitcoin and a host of other crypto assets fell precipitously last week, with a few possible factors in play,” Simon Peters said. “Firstly, the Taproot upgrade to the bitcoin blockchain created uncertainty in the investor community. Perhaps the most important upgrade in the past four years for the network, Taproot was meant to streamline the crypto asset’s transactions, making them faster and cheaper. Upgrades of this nature can cause short-term uncertainty as investors hold fire to see what will happen to the network,” Peters added. The Etoro analyst continued: Also affecting price levels recently is the U.S. infrastructure bill. The bill, led by President Joe Biden, could see companies subjected to stricter rules around the reporting and handling of crypto assets, and this has fed into further investor uncertainty. Finally, with bitcoin and other crypto-assets having reached fresh all-time highs, there was always likely to be a measure of profit-taking from investors which then translates into price weakness. Both bitcoin and ethereum go from strength to strength, and the ups and downs of the market are a part of this story. Alex Kuptsikevich: ‘Bear Market Would Be a Capitalization Drop Under $2.38 Trillion’ Alex Kuptsikevich, the Fxpro senior market analyst, detailed in a morning crypto market analysis that bitcoin (BTC) markets are bearish. “The technical picture for bitcoin is on the bearish side,” Kuptsikevich explained to Bitcoin.com News. “After Friday’s technical rebound, the first cryptocurrency hit resistance at the weekend in the form of the 50-day moving average and the 76.4% retracement level from the September-November rally. Stronger selling from this level suggests a short-term trend reversal and a set-up for a deeper and longer correction,” Kuptsikevich added. Kuptsikevich further stated: The first marker of a bear market would be a capitalisation drop under $2.38trn, which is 8% below current levels. For Bitcoin, such a level is near $55k, representing a 20% drop from the peak, a return to the highs of September, and 61.8% of the last rising momentum. An overcoming of these levels would signal a further drawdown of 20-30%. Huobi Group Analyst: Bitcoin’s Future Price ‘Highly Uncertain’ Du Jun, the co-founder of Huobi Group explained that BTC has “strong support at $57,500” but the “price of BTC is highly uncertain.” “According to data from Huobi Global, BTC fell quickly to the $57,500 position during daytime and was hindered,” the Huobi Group analyst noted on Monday. “Looking at the 4h K-line, the three EMA lines are descending at different ranges, and the slope of EMA5 is the largest, implying that the downtrend of price is gradually obvious. Changes of price [went] smaller today and trading volume has returned to normal levels.” What do you think about the crypto market outlook this week? Do you think the market looks bearish or do you think markets are still bullish? Let us know what you think about this subject in the comments section below. View the full article

The Central Bank of Kenya (CBK) governor, Patrick Njoroge, has said his institution is currently exploring the use of central bank digital currencies (CBDC) to settle cross-border payments. Njoroge however insists the bank’s priority is getting it right rather than being the first. CBK’s Approach According to a report by the Kenyan Wallstreet, Njoroge — who made these remarks while attending a virtual Afro-Asia Fintech festival — argued that such a CBDC would enhance the efficiency of cross-border payments. The report nonetheless quotes Njoroge reiterating the CBK’s approach which is different from that of other central banks. He said: We see the benefits would be more cross border. The issue is not to be first, the issue is to do it right. These remarks by the CBK governor come a few weeks after the Central Bank of Nigeria (CBN) became the first country in Africa to launch a CBDC. Some three weeks after launch, the CBN reported that nearly 500,000 wallets had been downloaded and e-naira transactions worth $150,000 had been recorded. Collaboration Versus Going It Alone As Bitcoin.com News reported, however, the e-naira continued to encounter challenges before and after launch, and this culminated with the brief removal of the wallet app on the Google Play Store. In addition, some observers in Nigeria continue to decry the CBN’s decision to extol the CBDC — which is pegged at par with the physical naira — while cracking down on cryptocurrency users. Although the Kenyan Wallstreet report does not quote Njoroge mentioning the CBN’s launch of the e-naira, the same report suggested that the CBK governor favors cooperating with other central banks rather than going it alone. Do you agree with Njoroge’s approach of getting it right rather than being the first? Tell us what you think in the comments section below. View the full article