roadrunner

PRESS RELEASE. LTNM – another cryptocurrency that takes us to the next level! LTNM is an insured, asset-backed currency based on the Bitcoin blockchain. Monsoon Blockchain Corporation developed it on behalf of the LTNM Foundation. LTNM is a greener, faster and safer version of great Satoshi Nakamoto’s work. Now you can trade it on FMFW.io exchange! Due to the essential aspect of Bitcoin’s high energy consumption, LTNM uses the proof-of-stake (PoS) algorithm to increase the network’s TPS speed and, above all, reduce the energy loss. LTNM uses MPoS – Mutualized Proof of Stake to strengthen network security by targeting costly barriers for an attacker to verify the block and recover all charges using mining. This makes it harder for anyone to perform DoS (Delegated Proof of Stake) attacks on the network. Additionally, LTNM has its chain that supports PoS at the difficulty of guaranteeing that blocks are distributed uniformly across the network. The problem depends on the size of the stake required to create the blocks. Another distinguishing feature of LTNM is, as mentioned earlier, insurance and backed by physical and digital assets. Moreover, users and businesses can unlock new revenue streams while lowering transaction costs. Statement from FMFW.io LTNM is a cryptocurrency that focuses on technological development to increase speed and protection in operation and on the ethical aspect. It is an excellent step for us and a distinction in having them on our cryptocurrency exchange.” says FMFW.io CEO Danish Chaudhry. Statement from LTNM Foundation “We applaud FMFW.io’s mission to bring the potential of cryptocurrencies to the global audience and appreciate their listing of the green initiative LTNM to help make it widely available.” says Monsoon Blockchain Corporation CEO Dr. Don Basile. About LTNM LTNM is the next generation, insured asset-backed cryptocurrency. Based on the Bitcoin ecosystem, LTNM is greener, faster, and more secure, poised to revolutionize digital transactions. Using an energy-efficient Proof of Stake consensus algorithm, LTNM plans to bring better transaction speed, lower fees, and more security to high growth markets such as Media, Gaming, Telecommunication, and Cloud Computing. For more information, please visit https://bitcoinlatinum.com Twitter: https://twitter.com/bitcoinlatinum About FMFW.io The mission of FMFW.io is to empower people from all over the world to trade cryptocurrencies with ease and confidence, from first-time traders to advanced trading professionals. With high liquidity, 24/7 multilingual support, and dozens of trading pairs complemented with a high level of security, we offer an attractive platform for trading any cryptocurrency. Within one year since launch, on average, our exchange has been visited by more than 500K active traders per month, and this number continues to grow. 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 December 2nd at Art Basel Miami, the very first Ross Ulbricht non-fungible token (NFT) collection will be showcased at the event and auctioned via Superrare. The proceeds from the auction will support Ross Ulbricht’s freedom efforts and a donor-advised fund called Art4giving, which helps support people who have incarcerated family members. 10 NFTs Featuring Ross Ulbricht’s Personal Work Non-fungible token (NFT) assets have become a big deal this year and turned into a billion-dollar industry in what seems like overnight. This week Ross Ulbricht, the founder of the now-defunct Silk Road marketplace, introduced his first NFT collection after spending nine years behind bars for a non-violent offense. Ulbricht was a first-time offender and a great majority of individuals believe his case was a “miscarriage of justice.” His double life sentence without parole, plus 40 years, for creating a website has been deemed draconian as well. Ulbricht is still fighting for his freedom and a petition hosted on change.org has garnered a lot of attention and signatures since it was started. The petition asks the U.S. president and government to grant ​​Ulbricht clemency and the number of signatures supporting Ulbricht’s freedom is nearing 500,000 at the time of writing. The announcement concerning the new NFT collection sent to Bitcoin.com News details that “portrayals of Ross Ulbricht’s case and story have been misleading. The NFT sale is meant to bring renewed attention and gather support from the NFT community.” The announcement explains that the Ross Ulbricht NFT collection will be featured and sold at the Art Basel Miami event on December 2. The sale will take place on the NFT platform Superrare and the collection crafted by Entoptic is Ulbricht’s first NFT collection that showcases his personal work. “This NFT collection is Ross’s creative journey of expression; it is his living and evolving story. Through drawings and video, we see glimpses of a man’s unfolding existence. This is his way to reach outside the walls of prison, as we continue the campaign for his freedom,” Entoptic said in a statement. Ulbricht NFT Collection to Leverage KSPEC Protocol, Proceeds to Go to Art4giving and Furthering Free Ross Efforts The NFT collection curated by Entoptic leverages the open-source protocol KSPEC. The protocol KSPEC was developed by a pseudonymous collective of “institutional art, design, and cryptonative technology professionals” called Kanon. The organization believes that the protocol KSPEC “unlocks God Mode for NFTs.” According to the announcement, using KSPEC allows developers to “deliver the Ross Ulbricht Collection NFT in full quality, attach additional content onchain.” Ulbricht also spoke about how the NFT auction proceeds will help people with incarcerated family members. “With proceeds from this NFT, we are starting a donor-advised fund called Art4giving, dedicated to relieving the suffering of the incarcerated and their families. One project I envision is to help kids travel to visit their moms and dads in prison,” Ulbricht detailed in a statement sent to Bitcoin.com News. Ulbricht further added: “Decades of incarceration stretch out in front of me. As I face that future, my eventual old age and death in this cage, I find myself looking for meaning and purpose. Why am I here? What good can I do with the time I have left and from where I am? I hope that helping my fellow prisoners through my art is one way.” Funding supports prisoners and their families in a myriad of ways and the auction’s funds will also be dedicated toward the efforts to free Ross. “These include new legal proceedings, raising awareness, and more — There is still a long road ahead,” the announcement concludes. What do you think about the Ross Ulbricht NFT collection announcement? Let us know what you think about this subject in the comments section below. View the full article

A lawyer representing investors defrauded by the notorious crypto scam Onecoin has urged authorities in Bulgaria to act on the case, claiming that the “world’s largest pyramid scheme” is still operating from the country. In a petition with the Bulgarian Constitutional Ombudsman, Jonathan Levy accuses officials in Sofia of failing to provide justice to the victims while seemingly protecting “the most notorious criminal organization.” Lawyer Slams Bulgarian Authorities for ‘Misfeasance’ in Onecoin Case In the petition, Dr. Levy points out that Onecoin has been recognized as a criminal enterprise by a number of countries including the United States, Argentina, and Germany, and classified as a pyramid scheme by law enforcement agencies such as the FBI. At the same time, the €20 billion cryptocurrency scam allegedly maintains several offices in the Bulgarian capital, uses a number of corporate identities, continues its operations unabated, and has even held a recruitment event this past summer. The Crypto Ponzi scheme Onecoin was launched in 2014 and promoted through Bulgaria-based offshore entities Onecoin Ltd, registered in Dubai, and the Belize-incorporated Onelife Network Ltd. Both were founded by the pyramid’s mastermind, Bulgaria-born ‘Crypto Queen’ Dr. Ruja Ignatova, also a German national holding a PhD in European private law, and her partner Sebastian Greenwood from Sweden. Ignatova disappeared in 2017 while her brother, Konstantin Ignatov, another Onecoin co-founder, was arrested in Los Angeles in 2019 and charged with financial crimes. He has since started cooperating with law enforcement, testified about Onecoin’s association with organized crime in Bulgaria and elsewhere, pleaded guilty, and sought witness protection. The scheme has been linked to terrorism funding as well. A number of people involved in the investigation and legal proceedings, including Ignatov, have complained about receiving legal and other threats. The document submitted by Jonathan Levy lists a number of other key figures in the scam and claims that “the Ignatovs, Onecoin and their proxies in Bulgaria and Dubai currently control moveable and immoveable property, investments, cryptocurrency, bank accounts and cash exceeding €12.5 billion” ($14.2 billion). The lawyer slams Bulgarian authorities for their limited actions on the case, recalling a single general warning about Onecoin issued in 2015 by the Financial Supervision Commission, which later ignored the matter, as well as police raids on its offices in Sofia in 2018, ordered by Ivan Geshev who now serves as Bulgaria’s Prosecutor General and conducted on request from Europol and the German police. Levy also states: We are unaware of any arrests or confiscation of bank accounts, cash, cryptocurrency, or property belonging to the victims. If Bulgarian law enforcement has confiscated assets it has not provided a public accounting or process for victims to be compensated. According to the legal representative, Onecoin is the largest pyramid scheme in world history, exceeding both the Madoff and Mavrodi pyramids. However, the filed complaint largely concerns itself with Onecoin’s Bulgarian operation, the full extent of which remains unknown, and is “directed at the misfeasance by Bulgarian law enforcement in regard to their EU mandated duty to victims of crime.” In the petition filed on behalf of clients from a number of countries, including the U.K., U.S., Germany, and Australia, Jonathan Levy highlights that under Article 47 of the EU Charter of Fundamental Rights and similar provisions in Bulgarian law, Onecoin victims should be granted access to justice, which they have not yet received from Bulgaria. He accuses the country, an EU member state, saying it “seemingly protects and enables OneCoin to retain its assets and continue to operate despite being the most notorious criminal organization of the 21st Century.” Petitioner Urges Bulgaria to Account for Crypto Scam’s Assets, Including Ignatova’s €12 Billion Bitcoin Stash Levy requests that the Bulgarian Ombudsman investigate the conduct of various government institutions such as the Prosecutor General’s Office, the Ministries of Justice and Interior, and the country’s Financial Intelligence Directorate. He also insists on taking steps to terminate “Onecoin’s open and public operation in Bulgaria that continues to victimize investors worldwide.” The lawyer further requires assistance from Bulgarian authorities to account for Onecoin assets controlled from within Bulgaria, allegedly consisting, according to the document, of 230,000 bitcoins, cash, yachts, luxury cars, jewelry and precious metals, bank accounts, investments, and real estate, in order to determine if they are still in the possession of Ignatova and her associates or have been seized by Bulgaria. Jonathan Levy also insists that the government in Sofia fulfill its obligations pertaining to the compensation of Onecoin victims under European law such as Directive 2012/29/EU of the European Parliament and EU Council Directive 2004/80/EC of April 29, 2004. The petitioner also calls for the “establishment of a monetary reward of up to €1 billion” to encourage associates of Onecoin to step forward and provide information about the crypto investment scam and its activities, “especially in regard to the 230,000 Bitcoins in the possession of Ruja Ignatova or her proxies currently valued at over €12 billion.” The money for that purpose, Dr. Levy suggests, should come from up to 10% of recovered Onecoin assets. Reports in the Bulgarian press confirm that Onecoin companies in the country are still operational. According to an article by the business daily Capital, the One Network Services entity, formerly owned by Konstantin Ignatov and Ruja’s mother, which runs Onecoin’s main office in central Sofia, is actually expanding its workforce – from 17 employees at the end of last year, to 24 now. The publication reveals that the firm has declared revenues exceeding 2.9 million leva (over $1.7 million) for 2020 with a net profit of 75,000 leva (over $43,000). The once open crypto center on the ground floor of a building on Slaveykov Square, is now closed but according to Capital, Onecoin leaders have been posting photographs of meetings held there during their visits to Sofia. The active promoters of the cryptocurrency investment scheme that has been rebranded to Oneecosystem, are new faces, and few of them are actually Bulgarians. Do you expect authorities in Sofia to take action against Onecoin following the victims’ petition of the Bulgarian Ombudsman? Tell us in the comments section below. View the full article

U.S. Senator Ted Cruz has introduced a bill to repeal the $1 trillion infrastructure package’s crypto provision, which he said is a “devastating attack” on the crypto industry. “I urge my colleagues in the Senate to repeal this harmful language that will create regulatory uncertainty and in turn an unnecessary barrier to innovation,” he said. Senator Cruz Pushes for Infrastructure Bill’s Crypto Provision to Be Repealed U.S. Senator Ted Cruz said Tuesday that he has introduced “legislation to repeal infrastructure bill’s ‘devastating attack’ on emerging cryptocurrency industry.” President Joe Biden signed the $1 trillion infrastructure bill into law early this week. Senator Cruz explained that his bill “would repeal an overly broad and poorly-crafted provision from the infrastructure package that creates new reporting requirements for many participants within the blockchain industry.” He emphasized: This provision will stifle innovation in the industry, endanger the privacy of many Americans and cryptocurrencies, and likely push key aspects of the industry overseas to countries like China. The Infrastructure Investment and Jobs Act “contains a provision that expands the definition of ‘Broker’ to nearly all participants in the cryptocurrency structure, treating them as a financial institution,” Senator Cruz described. “They would have to report consumer information to the Internal Revenue Service (IRS), even if these participants do not have access to that information.” Cruz warned: This mandate to collect names, addresses, and transactions of customers means almost every company even tangentially related to cryptocurrency may suddenly be forced to surveil their users. The senator from Texas explained that his state “has quickly emerged as the main hub for the cryptocurrency industry, and that exciting industry is now in danger of being stifled and driven overseas by an overreaching provision in this newly-signed, reckless spending package.” He added, “As a deliberative body, the Senate should have done its job and held hearings to properly understand the consequences of legislating on this emerging industry before we risked the livelihoods and privacy of participating Americans,” elaborating: I urge my colleagues in the Senate to repeal this harmful language that will create regulatory uncertainty and in turn an unnecessary barrier to innovation. A few lawmakers have made efforts to amend the crypto provision in the infrastructure bill. For example, Senators Cynthia Lummis and Ron Wyden introduced legislation this week to amend the “broker” definition in the Infrastructure Investment and Jobs Act. Do you think the infrastructure bill’s crypto provision will be repealed? Let us know in the comments section below. View the full article

India is reportedly considering allowing only preapproved cryptocurrencies to be listed and traded on exchanges. In addition, the government aims to both introduce and pass a cryptocurrency law by year-end. Indian Crypto Regulation and Preapproved Cryptocurrencies India is considering allowing only cryptocurrencies that have been “preapproved by the government” to be listed and traded on exchanges, Reuters reported Thursday, citing two sources familiar with the discussions. The approval process is intentionally cumbersome to deter investors from holding cryptocurrencies, the sources said, adding that the government is unlikely to go through with its earlier plan to ban cryptocurrencies. The publication quoted one of the sources as saying: Only when a coin has been approved by the government can it be traded, else holding or trading it in may attract a penalty. In addition, several Indian news outlets reported that the government could introduce a cryptocurrency bill during the winter session of parliament. Each cited unnamed sources. The winter session is set to begin on Nov. 29 and is expected to run through Dec. 23. CNBC-TV18 reported last week that finance ministry officials are trying to “fast track” a modified cryptocurrency bill. The Mint reported this week that once the crypto bill is cleared by the Union Cabinet, the government plans to introduce it in the first week of the winter session. However, Reuters wrote Thursday: The government aims to introduce and pass a cryptocurrency law in the parliamentary session that begins this month. Even Indian Prime Minister Narendra Modi has chimed in on cryptocurrency. On Thursday, he urged all democratic nations to work together to ensure cryptocurrency, including bitcoin, “does not end up in wrong hands, which can spoil our youth.” It was his first public speech specifically mentioning cryptocurrency and bitcoin. Last week, the prime minister chaired a comprehensive meeting on cryptocurrency after a consultation process with the central bank, the Reserve Bank of India (RBI), the Ministry of Finance, and the Ministry of Home Affairs. Following the meeting held by Prime Minister Modi, India’s Parliamentary Standing Committee on Finance held a meeting with experts from the crypto sector. This was India’s first-ever parliamentary discussion of the broad subject of crypto finance involving the industry. The committee subsequently called for the government to address its concerns regarding cryptocurrency. What do you think about the Indian government’s plan to regulate cryptocurrency? Let us know in the comments section below. View the full article

PRESS RELEASE. Liquid Craft – is bringing a new concept to the NFT space by using collectible handcrafted bottles of Liquor to add value to their digital art pieces. Their first series Dragons and Bourbon is launching for pre-sale on Nov 20th at 12 PM PST with the public sale going live on Nov 23rd at 12 PM PST. Liquid Craft is aiming to bring innovation to two markets simultaneously with this release as well as their upcoming NFT marketplace. The NFTs are all backed by collectible bottles of liquor and with each series they release, they aim to deliver something unique in the form of fine wines, spirits, craft beers, and various other Liqueurs, from a range of international crafters. The Dragons and Bourbon NFT Series – The First Release The first release from Liquid Craft is titled Dragons and Bourbon and is a series of 1500 NFTs, released in two tiers – one tier of 750 NFTs on the Binance Smart Chain and the other tier of 750 on Ethereum. Each of the 1500 NFTs is backed by a premium bottle of handcrafted small-batch bourbon, created by an international award-winning distiller from Windsor Colorado – The Heart Distillery. The Heart Distillery has created this small batch of bourbon specifically for this series and due to the limited number of bottles available, the release is limited to a hard cap of 1500. The initial release date was expected to be the 31st of October but due to network congestion and gas fee pricing that was incredibly high at the time, the team wanted to rethink their strategy. Community feedback has been acknowledged with the team now making the final decision to release on the 20th and 23rd November. Airdrops for Buyers of the First Release Initial buyers who obtain a Dragons and Bourbon NFT will be eligible to receive airdrops of the native $CRAFT token, with variable amounts given depending on the tier purchased. The amounts per NFT vary depending on the NFT tier purchased with up to 4500 tokens for the Ethereum tier and up to 1500 for the Binance tier. In addition to the airdrops, there will be exclusive offers, events, and automatic entry to all future giveaways. NFTs and Traditional Liquor – The Ultimate Pair NFTs have become incredibly popular over the past 12 months and have already provided solutions to a range of problems in different industries, based on the smart contracts they are built on. Liquid Craft is using this technology to provide solutions to the NFT market itself, the traditional liquor investment market, as well as provide assistance to the crafters of fine liquor the world over. By merging the traditional liquor market with the NFT space, would-be investors of fine liquors are able to remove the previous barriers to entry that have been associated with liquor investing, while also increasing the security and authenticity of collecting physical bottles. Intermediary processes are removed, storage concerns are gone, and the bottles can be traded as easily as NFTs, as often as needed without the physical bottle leaving the supplier. For NFT collectors, the NFTs now have real, tangible value by tying them to appreciating assets. This backing to physical products, removes a large amount of speculation that is currently associated with the NFT market. NFT Marketplace for International Crafters For the international crafters, the last 2 years have been a trying time for some. International tourism has been at record lows and most wineries, breweries, and distilleries that have previously relied on this tourism, have experienced a significant hit to their revenue. The goal of the upcoming marketplace that will soon be released by Liquid Craft, is to provide a potential lifeline to these smaller crafters. The marketplace will allow them to showcase their product to a new range of consumers on an international scale, by offering their products as NFTs. The Lead up to the 20th Nov Pre-sale and 23rd Nov Public Sale The Dragons and Bourbon NFT series is set to go live for pre-sale on the 20th November at 12 PM PST for lucky participants that managed to secure a whitelist entry. The Public Sale will go live on November 23rd at 12 PM PST and will be on a first come first served basis due to the small number of NFTs being released. Updates for the fast-approaching launch dates, as well as further promotions and AMA details, will be announced across the project’s social media platforms. To help with the lead-up to the upcoming launch date, the project has partnered with leading crypto marketing agency Coinpresso. The team at Coinpresso will be assisting with this release as well as all future launches, providing assistance for all marketing, SEO, and promotion needs. NFTs are now more than just digital art pieces and Liquid Craft is using them to bring change in the NFT space and the traditional liquor markets with this series. Their upcoming marketplace is expected to offer a new revenue stream for crafters the world over and a whole range of options for the investors of NFTs and fine liquors in one move. Twitter: https://twitter.com/CraftLiquid Telegram: https://t.me/Liquid_craft Media Contact: Curtis Ramsay Curtis@Coinpresso.io This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

A South African startup, NFTfi, is reported to have recently raised $5 million which the company intends to use for boosting its business of collateralizing non-fungible tokens (NFTs). Cryptocurrency Loan Marketplace According to a Techcrunch report, NFTfi’s $5 million capital raise was led by U.S. actor Ashton Kutcher’s Sound Ventures. The other investors that participated in the funding round include Maven 11, Scalar Capital, and Kleiner Perkins. The company, which was founded by Stephen Young in February 2020, already acts as a marketplace where users can get a cryptocurrency loan on their NFTs and offer loans to borrowers against their NFTs. By collateralizing their tokens, NFT holders will be able to unlock liquidity without selling, the report explained. Since facilitating its first loan in May 2020, NFTfi claims to have seen more than 1,500 such transactions take place on its platform. Pricing Dynamics The report quotes Young explaining how the lending and borrowing process starts and what happens if a borrower defaults. In the same report, Young also outlines the dynamics in pricing between lenders and borrowers on NFTfi. He said: Lenders want to have some room between the price of the asset and how much they lend. This is because in the case where somebody defaults, they need to be able to sell it for less than market value, and the price might have dropped in between. So that’s why they need such a big buffer between the loan value and the value of the actual asset. Although 20% of borrowing on the NFTfi platform gets defaulted on, these are mainly lower-value loans, Young revealed. According to the NFTfi founder, this happens primarily because high-value NFTs are pretty exclusive and hard to come by. Users will thus fund loans that they hope the borrower will default on and therefore surrender the NFTs. The top NFT loans on NFTfi span across popular digital collectibles on the Ethereum blockchain and these include Art Blocks, Bored Ape Yacht Club, Cryptopunks, Autoglyphs, Meebits, and Vee Friends. What’s your view on this story? Tell us what you think in the comments section below. View the full article

Kucoin Labs, the investigative and investment arm of Kucoin, a cryptocurrency exchange, has launched a $100 million fund to incubate early metaverse related projects. These include blockchain gaming initiatives, NFT platforms, and decentralized platforms, among others. The support will also include direct involvement with the projects selected, including counseling about branding and marketing. Kucoin Invests in Metaverse Kucoin, one of the leading exchanges in Asia, has taken the first step to hop on the metaverse train. The investment and investigation arm of the exchange, Kucoin Labs, has launched a $100 million fund to invest in metaverse-based initiatives, including blockchain-based games, decentralized structures, NFT platforms, and other similar projects. The support of Kucoin won’t be limited to just economic incentives. These incubated projects will also get help in the form of counseling about branding, market management, exposure, and other important aspects of starting a company. While the company aims to extend this program to all regions, one of the main objectives is to increase adoption of these technologies in emerging markets like South America and Africa. Part of these funds will also go to education programs for younger generations exploring the concept of the metaverse. Importance of the Metaverse To companies investing in metaverse initiatives, this concept will have notable significance in the years to come, enabling activities and options that would be impossible today. About the importance of the metaverse for the future, Kucoin CEO Johnny Lyu stated: As the next chapter of the Internet, Metaverse is poised to change the way we work, connect, shop, entertain and have social interactions. ‘KuCoin Metaverse Fund’ will be launched to accelerate the evolution of the Internet industry. Kucoin is just the latest exchange to jump on the metaverse investment bandwagon, with other big companies like Microsoft and Facebook — which changed its name to Meta — already making arrangements to include metaverse elements. But the exchange has a different conception of the metaverse and wants to include privacy measures for people to be safe in the upcoming alternate universe. Lou Yu, the head of KuCoin Labs, stated that this metaverse establishes a “dilemma between individual privacy protection and technological advancement.” This is why the exchange will be studying ways of achieving a more privacy-friendly metaverse ecosystem. Solana, FTX, and Lightspeed also established a $100 million blockchain gaming fund in recent weeks. What do you think about the launch of a $100 million metaverse fund by Kucoin? Tell us in the comments section below. View the full article

Phil Spencer, executive vice president of gaming at Microsoft and the individual responsible for the Xbox program, has addressed the NFT gaming phenomenon trending recently. To Spencer, some of the platforms that leverage the use of NFTs feel more exploitive than entertaining. Some of the biggest developers and publishers in the gaming industry have already signaled their interest in introducing NFT elements to their games. Phil Spencer Not Immediately Supportive of NFTs Phil Spencer, responsible for the Xbox program at Microsoft and one of the most recognized executives in the world of gaming, has issued his opinion about NFTs and the inclusion of these elements in today’s gaming scene. Spencer stated that he thinks these first steps of exploration with these tools are including platforms that are more about speculation than about entertainment. On the subject, Spencer told Axios: What I’d say today on NFT, all up, is I think there’s a lot of speculation and experimentation that’s happening, and that some of the creative that I see today feels more exploitive than about entertainment. The opinion of Spencer is very important due to the influence he has over what’s published or not in the Xbox store, one of the biggest marketplaces in the gaming industry. This opinion could mean that games using NFTs would have a difficult time getting published in the aforementioned storefront, at least for now. Not Ready for Stores Spencer expanded his view and stated that at this stage, there might be some things created with NFTs that wouldn’t be able to be featured in gaming stores. This is the same opinion that executives from Steam, the biggest PC gaming marketplace, put forth to justify a ban on blockchain games from its platform last month. However, other gaming companies are already integrating NFT elements into their games, or at least are planning to do so in the near future. Square Enix, Electronic Arts, and Ubisoft are in this group, with Ubisoft even investing in native blockchain gaming companies like Animoca Brands, the operators of The Sandbox, one of the leading NFT metaverses. Spencer stressed: I can understand that early on you see a lot of things that probably are not things you want to have in your store. I think anything that we looked at in our storefront that we said is exploitive would be something that we would, you know, take action on. What do you think about the statements of Phil Spencer regarding NFT games? Tell us in the comments section below. View the full article

There’s a new website the crypto community has been discussing called The NFT Bay, a web portal that operates in a similar fashion to The Pirate Bay (TPB), because the platform hosts a huge selection of NFTs stemming from various blockchain platforms for free. On Thursday, the web portal’s creator revealed a file called “The Billion Dollar Torrent,” which claims to hold all the NFTs from Ethereum and Solana. ‘The Massive NFT Heist:’ Pirate Bay Clone The NFT Bay Sparks Heated Discussions During the last year, non-fungible token (NFT) collectibles have seen massive popularity and billions of dollars have been spent on these digital items. Meanwhile, a great number of people in the crypto space think NFTs are worthless and people can simply right click the NFT image and own the artwork without paying. It’s been a heated discussion ever since NFTs were introduced. The debate became even more controversial in March when an NFT immutability debate ensued and crypto supporters highlighted how NFTs were being deleted and images were being replaced. Months later as NFTs continue to rise in both popularity and value, an individual tweeted about an interesting web portal called The NFT Bay. “OMG who right clicked all of the #NFTs?” the individual tweeted on Thursday. The individual named Geoff also left a torrent link hosted on The NFT Bay (thenftbay.org) called “The Billion Dollar Torrent,” which hosts all the non-fungible token assets stemming from Solana and Ethereum. After the tweet got thousands of likes and retweets, Geoff said he was headed to bed but left some press statements behind. The NFT Bay operates in a similar fashion to The Pirate Bay (TPB), because the platform hosts a huge selection of NFTs stemming from blockchain platforms. It contains a link to the torrent where users can leverage a torrenting platform to download the seeded files. The NFT Bay actually looks like a clone of TPB and has the same website color arrangements and uses TPB’s logo too. The main page has a slew of individual NFTs and filters for NFTs from collections like Bored Ape Yacht Club, Cryptopunks, and Axie Infinity. This is art. https://t.co/eKrqtrkMga — Sos Sosowski (@Sosowski) November 18, 2021 The file Geoff tweeted about called “The Billion Dollar Torrent,” has a file for Ethereum-based and Solana-based NFTs. The description also says: “If you like these NFTs, please buy it. The artists participating in fraud deserve support.” Party is over ! 😂 https://t.co/FGgAblfI38 — Sp3cPT (@PtSp3c) November 18, 2021 In Geoff’s press statements, it asks why he decided to do this and the reason given is “Art.” Moreover, after discussing his background, Geoff explained a little more about the fundamental reason behind thenftbay.org. The press statements hosted on Github note: Fundamentally, I hope through thenftbay.org people learn to understand what people are buying when purchasing NFT art right now is nothing more [than] directions on how to access or download [an] image. The image is not stored on the blockchain and the majority of images I’ve seen are hosted on web2.0 storage which is likely to end up as 404 meaning the NFT has even less value. ‘Underlying Technology Is Amazing, Greed and Scamming Is Sickening’ In addition to the reasons behind the web portal, Geoff also shared his general take on NFTs. Geoff thinks that the utility and value of NFTs will come from social media platforms. Ok, the one thing I will begrudgingly enjoy about NFTs is a massive NFT heist https://t.co/99CHemfngB — Yell in a War (@jelenawoehr) November 18, 2021 “For many digital representations is > physical representation and (if/when) Twitter/TikTok (discord backed away from it) roll out the ability to display flair on a social media profile that will be a turning point,” the press statements explain. Geoff further said that the excitement over Twitter’s blue verified checkmark is a perfect example of why verifiable proof of membership could be key. “All of this, however,” Geoff stressed. “Could be achieved without blockchain.” “What people dream to build with ‘web3’ is quite amazing,” The NFT Bay creator concluded. ”The underlying technology, not so much and the greed/scamming going on is sickening. The dreams for a different future remind me of the internet in the 1990s. What’s fascinating here is the communities are very strong and can self-fund the discovery phase. Where it goes pear shape is when ‘we gotta get new blood in to [a] pump/dump.’” The question is how much value will people put into this so-called “NFT heist,” as people may simply disregard the torrented files as not being ‘the true’ and verifiable NFTs. The controversy on verified ownership and simply right-clicking a JPG or PNG file has raged on for quite some time, and is seemingly still unresolved. In fact, it just may take the test of time, possibly even years, in order to assess the veracity of NFTs in the future and their value as well. What do you think about The NFT Bay and Geoff’s press statements about the project? Let us know what you think about this subject in the comments section below. View the full article

The U.S. city of Williston in North Dakota is installing a cryptocurrency ATM at its international airport. “This marks the first government-hosted cryptocurrency kiosk,” the city said. Williston also accepts cryptocurrencies for payments of utility bills. ‘The First Government-Hosted Cryptocurrency Kiosk’ The city of Williston in the U.S. state of North Dakota announced Wednesday a partnership with crypto ATM operator Coin Cloud to install a cryptocurrency ATM at its Williston Basin International Airport (XWA). The city wrote: This marks the first government-hosted cryptocurrency kiosk and the first Coin Cloud installation in an airport. “This is an ambitious step in introducing and engaging the public towards cryptocurrency while proactively playing a role in building the digital ecosystem,” commented the city’s finance director, Hercules Cummings. “Although we are a smaller rural community, we are making an impact. Taking this small step may pave the way for other government and commercial entities to follow suit.” Coin Cloud’s crypto ATMs, known as Digital Currency Machines (DCMs), allow users to buy and sell over 40 cryptocurrencies, including bitcoin, bitcoin cash, dogecoin, shiba inu, cardano, and ether. Users can also withdraw cash from their digital wallets. The city clarified that it does not act as the fund custodian or manage any crypto transactions, emphasizing that purchases and withdrawals are handled by Coin Cloud. Cummings opined: “Traditionally when you purchase crypto on an exchange, the transaction is directly tied to your bank via a checking account, debit card, or tied to your credit card … Converting cash to crypto through the DCM means there are no recognizable charges, bank account, or credit card. The deposit and withdrawal process happens between the DCM and your digital wallet, simply using cash.” The city’s finance director further explained that Williston partnered with Bitpay in May “to accept digital currency for city utility bills.” He noted: “Now with a municipal-hosted DCM, we are creating a successful road map for the public to embrace cryptocurrency.” Referring to allowing residents to pay with cryptocurrencies, Cummings said: We are the first municipality in the State of North Dakota, and the third in the nation, to offer this service. The city clarified that only utility bills are currently eligible to be paid with cryptocurrency, noting that “Quality assessments will be conducted, and volumes evaluated, before migrating other bills such as landfill, permits, and licenses.” What do you think about the city of Williston installing a crypto ATM at its international airport and accepting cryptocurrencies for utility bill payments? Let us know in the comments section below. View the full article

One of the most successful baseball teams in Australia, the Perth Heat, is adopting the bitcoin standard. The team will pay players and staff in bitcoin, accept the cryptocurrency for payments, and hold bitcoin on its balance sheet. The Perth Heat Will Operate on Bitcoin Standard The Perth Heat, a major baseball team in the Australian Baseball League, announced Wednesday that it will “operate on bitcoin standard.” The team, which is one of the most successful in Australia, has partnered with bitcoin payments company Opennode to accept and send bitcoin payments powered by the Lightning Network. “In partnership with Opennode, the Perth Heat is setting bitcoin as the new standard for payments and payouts,” the team wrote. According to the announcement: 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. Perth Heat CEO Steven Nelkovski commented: “We firmly believe that the mindset that bitcoin imparts on network participants will be felt by our players, coaches, staff, and our loyal fan base and we look forward to setting the bar for how much value a sports organization can bring to a community in the bitcoin age.” Perth Heat Chief Bitcoin Officer Patrick O’Sullivan opined: The Perth Heat are committed to operating according to a bitcoin standard and in doing so are shifting the corporate treasury from dollars to bitcoin. He clarified: “The club has already established an initial position in BTC … This is not a one-off purchase to hedge against future uncertainties or inflationary pressures. The Perth Heat are embracing the reality that the future of money and corporate treasuries will live on the Bitcoin blockchain.” What do you think about the Perth Heat adopting the bitcoin standard? Do you think other teams will follow suit? Let us know in the comments section below. View the full article

The government in Norway is considering ways to limit the environmental impact of cryptocurrency mining and may support Swedish proposals to that end, including a European ban on proof-of-work mining. The European Commission has revealed it is already working to promote a transition to “more sustainable” protocols. Extensive Use of Renewable Energy for Mining Is Hard to Justify, Norway Minister Says Authorities in Norway are mulling over potential policy measures to deal with the effects of crypto mining on the environment, the country’s minister responsible for local government and regional development has indicated. As part of the review, the Norwegian government intends to look into solutions recently put forward by Swedish regulators and work for common European rules. Speaking to Euronews Next, Minister Bjørn Arild Gram also stated: Although crypto mining and its underlying technology might represent some possible benefits in the long run, it is difficult to justify the extensive use of renewable energy today. Both countries, along with another Nordic nation, Iceland, have in the past few years become popular destinations for cryptocurrency miners. The region boasts abundant renewable energy resources and maintains relatively low electricity rates. According to Eurostat data for the first half of 2021, Norway offered the cheapest electricity for non-household consumers in the European Economic Area (EEA), with over 90% of its energy coming from hydroelectric power generation. Bjørn Gram’s statement comes after the directors of Sweden’s financial services and environmental protection agencies called for imposing a ban on proof-of-work mining across the European Union, after a multifold increase of energy usage by bitcoin miners in the country this year. “Sweden needs the renewable energy targeted by crypto asset producers for the climate transition of our essential services, and increased use by miners threatens our ability to meet the Paris Agreement,” the officials warned. “Overall, we want our renewable energy to be used in a way that creates value and that supports the transition to a climate neutral society,” Minister Gram elaborated. His comments are part of a heated discussion in Norway regarding the use of renewable energy to power digital coin minting after Oslo introduced tax breaks for data centers in 2016. The country’s new environment minister, Espen Barth Eide, has in the past expressed concerns over Norway becoming the “world’s Bitcoin mine” at the expense of its own power-intensive industries. European Commission Urges Crypto Miners to Move Away From Proof-of-Work Concept Regional Development Minister Bjørn Gram did not provide any specific details regarding the regulatory policies the Norwegian government is currently considering. But if Norway decides to follow in the footsteps of Sweden, it may result in a crackdown on crypto mining operations that require significant amounts of energy. Meanwhile, the European Commission (EC), which would be responsible for enforcing crypto regulations in the EU, has admitted that it’s already encouraging the crypto mining industry to “migrate applications” from energy-intensive proof-of-work blockchains to less demanding protocols like proof-of-stake and hybrid consensus models, Euronews Next revealed. A spokesperson for the executive body told the publication that the EC is working to promote “more sustainable forms of blockchain technologies.” The Commission, the representative added, has “ambitious emission reduction targets” and promotes the advancement of less energy-intensive blockchain technologies through funding for startups and direct development of a public sector blockchain network. Although the Paris Climate Agreement, referred to by Swedish regulators, does not ban crypto mining, Brussels is aware of developments in jurisdictions like China and will discuss the matter with EU member states, the official added. Do you think Norway, Sweden, and the EU will impose restrictions on energy-intensive crypto mining? Share your expectations in the comments section below. View the full article

Bitcoin.com Games dishes out a massive jackpot win for a lucky player who cashes out the big loot! Player Cashes out 2.25 Bitcoin After a Single Lucky Spin Turning up the heat on Bitcoin.com Games, our very own crypto casino is Wazdan’s smashing new slot game Sizzling Bells. The brand new game was just recently released back in October and features some of the most sought-after features in a game by slot lovers across the world. Sizzling Bells is a modern take on classic slot machines and features stunning bells, juicy fruits, lucky stars, and is capable of producing wins of up to 15000x a player’s initial bet amount. With 5×5 reels and options to set custom volatility levels, the new slot game has now chosen one lucky player to reward with a massive jackpot of $134,000 on a flick of a single spin. Sizzling Bells is capable of dishing out big jackpot wins of up to 15000x a player’s bet amount! The game features Sticky Bonus symbols that can land the player into the lap of a big, fortune-favoring turn of events. Things get really hot when 6 bonus symbols appear on the reels that trigger the exciting ‘Hold the Jackpot’ bonus round. This is where players get a chance to land the sizzling Super Grand Jackpot of 15000x with fiery animations filling up the entire game window. Bitcoin.com Games is home to many such amazing video slot games that casino players all over the world simply love and enjoy to their heart’s content. While being so entertaining, most of these slot games also feature a ridiculously high number of multipliers that can plot out a clear path to a world of riches for the players. Play Sizzling Bells now or check out other Bitcoin Slots with big jackpots and bonuses that you can play on Bitcoin.com Games. View the full article

ZK International Group Co., Ltd’s (Nasdaq: ZKIN) (“ZKIN”, “ZK International” or the “Company”), and its subsidiary xSigma Collectibles (“xSigma”), is pleased to announce the launch of MaximNFT’s open beta on November 29th. MaximNFT is an upcoming NFT marketplace launched by xSigma in partnership with Maxim magazine. It will include exclusive NFT collections from high-profile individuals such as Brian Tracy, and a host of NFL players. Brian Tracy is a personal development speaker, and author of the worldwide best-seller “The Psychology of Achievement”. The book is just one of Tracy’s hundreds of textual, audio and video learning programs. His other works include “The Art of Closing the Sale”, “Eat that Frog” and “Maximum Achievement”. Tracy’s NFT collection is a charity project. Jon Orlando – CEO of MaximNFT – said he looks forward to hosting the collection, alongside other charity projects on MaximNFT in the future. Meanwhile, MaximNFT will also feature unique, 3D digital collectibles certified by their respective football stars, including Janoris Jenkins, Devon Kennard, and Denzel Perryman. Jenkins – aka “Jackrabbit” – is the cornerback for the Tennessee Titans. Meanwhile, Kennard is a linebacker for the Arizona Cardinals, and Perryman is the middle linebacker for the Las Vegas Raiders. “Both MaximNFT and the players of the National Football League have a lot to gain from the booming NFT industry,” said CEO Jon Orlando. “Jenkins, Kennard, and Perryman are all extraordinary talents with tens of thousands of fans eager to purchase their digital merchandise.” More details on the launch of MaximNFT, alongside its exclusive NFT collections and high-profile partnerships, will be revealed in the coming weeks. About MaximNFT.com MaximNFT is xSigma’s rebranding of its NFT marketplace in partnership with Maxim.com. xSigma’s NFT platform will operate under the Maxim brand and be endorsed and promoted by Maxim.com. MaximNFT targets an actively growing industry of NFTs, which surpassed $2 billion of total sales volume in 2021. MaximNFT seeks to provide the best customer experience and innovative NFT solutions available. It will allow customers to create and sell NFTs on various blockchains, including, but not limited to, Ethereum, Binance Smart Chain, and Polkadot. Some of the collectibles will come with unique real-world experiences, such as autograph sessions, photoshoots, dinners, and other activities. Furthermore, MaximNFT offers an innovative “NFT tokenization” feature that will allow customers to trade fractions of any NFT on the market. The marketplace plans to focus on sports and celebrities’ collectibles, as well as gaming content. The company is betting on the rise of gaming and utilization of the NFT technology for in-game purchases and collectibles. Additionally, xSigma plans to combine NFT with new AR and VR technologies. About Maxim.com Maxim is a monthly men’s lifestyle magazine with over 25-years of history and a multi-million reader base that spans 75 countries. xSigma believes the Maxim.com team will add significant value to the new NFT Marketplace. About xSigma xSigma (including xSigma Corporation and xSigma Collectibles) is a blockchain R&D lab and a wholly owned subsidiary of ZK International. xSigma’s team includes world-class developers formerly of Google, Facebook, Ripple Labs, and 1inch. ZK International launched xSigma as a research and development lab in 2018 to solve real- world infrastructure challenges. Its mandate was to explore new opportunities in smart contracts, supply chain management, and other blockchain-based solutions. xSigma has since pivoted to decentralized finance, focusing on decentralized exchanges, stablecoins, and lending protocols. The research lab is now actively working on its ecosystem of products. The ultimate objective is to build a range of financial tools and products for the flourishing decentralized finance industry. The xSigma team is on the leading edge of blockchain research and development that intersects decentralized finance, supply chain management, IoT, and infrastructure. Its DeFi protocol is one of many decentralized finance projects xSigma plans to launch over the next 12 months. About ZK International Group Co., Ltd. ZK International Group Co., Ltd. is a China-based engineering company building and investing in innovative technologies for the modern world. With a focus on designing and implementing next-generation solutions through industrial, environmental and software engineering, ZKIN owns 28 patents, 21 trademarks, 2 Technical Achievement Awards, and 10 National and Industry Standard Awards. ZKIN’s core business is to engineer and manufacture patented high-performance stainless steel and carbon steel pipe products that effectively deliver high quality, highly-sustainable and environmentally sound drinkable water to the Chinese, Asia and European markets. ZK International is Quality Management System Certified (ISO9001), Environmental Management System Certified (ISO1401), and a National Industrial Stainless Steel Production Licensee. It has supplied stainless steel pipelines for over 2,000 projects, which include the Beijing National Airport, the “Water Cube” and “Bird’s Nest”, which were venues for the 2008 Beijing Olympics. ZK International is preparing to capitalize on the $850 Billion commitment made by the Chinese Government to improve the quality of water, which has been stated to be 70% unfit for human contact. In 2018, ZKIN established its wholly-owned xSigma Corporation to develop innovative software solutions that support its core operations while exploring new opportunities in smart contracts, distributed ledgers, supply chain management NFTs, and blockchain architecture. The xSigma Labs team is made up of world-class developers and engineers formerly of Facebook, Google, Amazon, Ripple and 1inch, most recently launching its first DeFi project in the Fall of 2020. For more information, please visit www.ZKInternationalGroup.com. Additionally, please follow ZK International on Twitter, Facebook, YouTube, and Weibo. For further information on ZK International’s SEC filings please visit www.sec.gov. Safe Harbor Statement This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate” or “continue” or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict and many of which are beyond the control of ZK International. Actual results may differ from those projected in the forward-looking statements due to risks and uncertainties, as well as other risk factors that are included in ZK International ’s filings with the U.S. Securities and Exchange Commission. Although ZK International believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by ZK International or any other person that their objectives or plans will be achieved. ZK International does not undertake any obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

On November 17, a report disclosed that the leading non-fungible token (NFT) marketplace, Opensea, is “fielding new investment offers” according to two unknown sources familiar with the matter. The investment could propel Opensea’s valuation by six times to a $10 billion market valuation, according to the sources. Report Claims Opensea Offered a $10 Billion Valuation During the first week of November, the popular NFT marketplace Opensea surpassed $10 billion in all-time sales, according to statistics from dappradar.com. At the time of writing, dappradar.com metrics indicate Opensea’s all-time sales equate to $11.11 billion today. Now, according to a report published by theinformation.com’s Kate Clark and Berber Jin, Opensea is fielding new investment offers and a new investment could make the company’s market valuation rise to $10 billion. The two sources told Clark and Jin that the NFT marketplace did not “initiate” the financing as the people familiar with the matter stressed, “investors are clamoring for a piece of the startup.” The fundraising rumors follow the company’s most recent Series B fundraising round in July. Opensea raised $100 million in a round led by Andreessen Horowitz and well-known investors like Tobi Lutke, Kevin Durant, and Ashton Kutcher. The Series B round propelled the company to unicorn status with a valuation of $1.5 billion after the capital raise. Opensea Volumes Slide Month After Month Since August The two sources stemming from theinformation.com’s editorial did not disclose the investors that are allegedly clamoring to invest in Opensea. The sources did say the magnitude of sales Opensea saw this summer was the reason behind the firms looking for a piece of the NFT marketplace. However, since August, metrics from Dune Analytics indicate that volumes have slipped lower month after month. Opensea supports the Ethereum blockchain and Polygon blockchain and on November 17, the company introduced the Opensea mobile applications for Android and iOS. Opensea’s daily volume in ethereum (ETH) dipped through the month of October, while Polygon volumes have risen. Ether sales volume on Opensea has kicked up a notch during the second week of November. What do you think about the sources that say Opensea is fielding investments and could increase its valuation by six times? Let us know what you think about this subject in the comments section below. View the full article

On Wednesday, the world’s largest collector car auction house by total sales, RM Sotheby’s, announced the company will be accepting cryptocurrency payments via Bitpay. The firm’s upcoming Guikas Collection sale on November 19 will be RM Sotheby’s first auction to accept digital currency payments for collectible automobiles. RM Sotheby’s Announces Crypto Payment Support via Bitpay While cryptocurrencies have increased significantly in value, a great number of businesses have turned toward accepting digital assets for goods and services payments. The company RM Sotheby’s is a classic car auction firm that’s located in Blenheim, Ontario, Canada. Originally called RM Auctions, the company is now partly owned by the leading fine art and luxury goods auction house Sotheby’s, since 2015. On November 17, the company announced its plans to accept digital currency payments at auctions via Bitpay. The company chose to accept crypto assets so it can attract a new customer base in order to expand “the market for collectible automobiles to a broader cross-section of enthusiasts and collectors.” The company will begin to accept crypto for settlement on November 19, when the firm hosts the upcoming Guikas Collection auction. The auction will feature 75 of the finest racing and road cars and the collection will be auctioned entirely without reserve. “The collection of race cars will provide modern racing enthusiasts an introduction into virtually all vintage racing series worldwide, including GT and road cars that are equally impressive which offer a wide selection of Pre- and Post War sports cars,” the Guikas Collection auction description details. RM Sotheby’s CSO: ‘Cryptocurrency Has Become a Significant Part of the Financial Landscape’ RM Sotheby’s CSO Bryon Madsen explained in a statement sent to Bitcoin.com News that digital currency payments are a mainstay in today’s financial landscape. “Cryptocurrency has become a significant part of the financial landscape and is now the way many people are choosing to conduct transactions on significant investments,” Madsen said. The RM Sotheby’s executive added: We want to maintain true to the needs of our clients as well as those who are just getting into the collector car market. The role that cryptocurrency will play within the collector car market will only expand in the future. The partnership between RM Sotheby’s and Bitpay follows the collector car auction company Mecum Auctions accepting crypto payments six months prior. Mecum Auctions also leverages Bitpay as the crypto payments service provider and the company chose to accept digital currencies for the same reason. ​​Mecum Auctions said at the time the firm wanted to “attract new customers and sales.” Sotheby’s, the leading luxury auction house that has partial ownership of the collector car auction house, also accepts cryptocurrencies, but through Coinbase. The world’s largest auction house revealed its partnership with Coinbase during the first week of May. Bitpay allows businesses to accept crypto assets like BTC, BCH, DOGE, ETH, LTC, WBTC, alongside stablecoins such as BUSD, DAI, GUSD, USDP, and USDC. What do you think about RM Sotheby’s accepting cryptocurrencies for payments? Let us know what you think about this subject in the comments section below. View the full article

NBA basketball team the Houston Rockets has partnered with NYDIG, a leading bitcoin solutions provider, to be the team’s official bitcoin services partner. The deal will provide the team with cryptocurrency-related opportunities and give NYDIG exclusive exposure in the team’s social, digital, and arena platforms. The full amount of the sponsorship, which was not disclosed, is being paid in bitcoin. NYDIG Forges Crypto Services Partnership With the Houston Rockets NYDIG, the bitcoin services company, has forged a sponsorship deal with the Houston Rockets, the two-time NBA champion basketball team. The deal will allow NYDIG to be the official bitcoin services partner and bitcoin platform of the team, meaning that the company will have exclusive access to several spaces of the franchise, including social, digital, and in-arena platforms. The Houston Rockets will also work with NYDIG to expand knowledge and awareness about the cryptocurrency world and the uses of these new investment tools. On the subject, Houston Rockets President of Business Operations Gretchen Sheirr stated: Our organization has leaned on advancements in technology to remain on the cutting edge. Partnering with NYDIG allows us to leverage the growth of Bitcoin to provide creative rewards and payment options to our fanbase and associates. Naming Rights and NYDIG’s Recent Partnerships With the deal, NYDIG will also get naming rights for the Toyota Center’s (home arena for the Houston Rockets) suite levels, to be called the “Bitcoin Suites by NYDIG,” and will receive advertising during Rockets games. The amount of the sponsorship (that was not disclosed by any of the parties) will be paid fully in bitcoin by NYDIG, with the funds held under NYDIG’s custody. Kelly Brewster, chief marketing officer of NYDIG, detailed: The Rockets will be paid in bitcoin, and this partnership underscores our excitement about the Houston area and the Bitcoin innovation taking place there. NYDIG has been on a roll with partnerships lately, having also partnered earlier this month with Landry’s — the dining, hospitality, and entertainment company — to power a bitcoin loyalty rewards program that will bring bitcoin rewards to certain users of the franchise. The company also acquired Bottlepay, a Lightning Network-based payments company, to include its Lightning Network infrastructure in NYDIG’s current full-stack offer. What do you think about the partnership between NYDIG and the Houston Rockets? Tell us in the comments section below. View the full article

Creditors of a South African crypto trading firm, Africrypt, have agreed to a proposal recently tabled by an unnamed investor who is seeking to resuscitate the collapsed company. Africrypt’s Intellectual Property In addition to paying $4 million — which will be used to pay off some of the crypto firm’s debts — the investor is also willing to part with $1 million which will go towards the acquisition of 51% of Africrypt’s shares and the company’s intellectual property rights. As previously reported by Bitcoin.com News, an unnamed investor had proposed injecting a total of $5 million in the now-defunct crypto company. While a few of the creditors had voiced their disapproval of the investor’s proposal to have criminal charges against Africrypt’s two young directors dropped, there was an expectation that creditors would still accept the proposition. ‘Not the Worst Deal’ Indeed, as the Moneyweb report explained, a majority of the creditors voted in favor of the offer because this represents a more realistic outcome for many of them. This sentiment is aptly summed up by Ruann Kruger who is the legal representative of Africrypt’s liquidators. Kruger said: There seems to be a belief among some that there is some useful intellectual property in the company, and the idea is that the company will acquire this as part of the compromise. Meanwhile, according to one Africrypt investor who did not wish to be identified, the tabled bailout offer is not entirely a bad one. “It’s not the worst deal one could hope for. We get maybe 40c or 50c back in the rand, and the company may be revived in such a way that the other funds are recouped over time,” the investor argued. What are your thoughts about this story? Tell us what you think in the comments section below. View the full article

The Central Bank of Nigeria (CBN) governor, Godwin Emefiele, has claimed that a majority of cryptocurrency transactions are embedded in illegality. He also asserts that there is no room for cryptocurrency in the Nigerian banking space. Pushback Against Endsars Protest Claims In his latest anti-cryptocurrency salvo that was published by the Punch, Emefiele however appeared to push back against the claims the CBN had abruptly decided to exclude cryptocurrency entities from the banking system as punishment for the industry’s perceived support of the Endsars protests. When the CBN froze the bank accounts of individuals that were involved in organizing the Endsars protests in late 2020, the protest leaders began to ask for donations via bitcoin. As reported by Bitcoin.com News, this switch to bitcoin donations ultimately enabled organizers to continue funding protest activities. Therefore, when the CBN suddenly announced the exclusion of cryptocurrency entities from the banking ecosystem, some observers in Nigeria speculated this decision had been made because the central bank had failed to stop the flow of funds to organizers of the Endsars protest. Emefiele’s Viewpoint However, in his response to these claims, Emefiele is quoted in the report explaining why the CBN is generally against cryptocurrency transactions. “Like you said, the Endsars issue came up in October 2020 and we came up with the issue of saying that we would not make our banking and payment system space available to those who were involved in cryptocurrency business because we feel that a substantial portion of the transactions going on there are illegal,” he explained. Emefiele then suggested that the CBN, just like many of its counterparts around, does not support cryptocurrency transactions because they are encrypted and cannot be decrypted by any central bank. He said: Look at it this way: what is there to hide? Why are the transactions so hidden? Why are they encrypted? If I conduct a transaction and a regulator or security authority wants to see the nature of the transaction, those (transactions) can’t be encrypted for people to know what happened. It means that cryptocurrency is a product that is embedded in a high level of illegality. In fact, according to Emefiele, donations to the Endsars movement had nothing to do with the CBN’s February 5, 2021 directive. Rather, this directive is consistent with the stance that has been taken by many central banks around the world, Emefiele explained. Do you agree with Emefiele’s remarks about cryptocurrencies? Tell us what you think in the comments section below. View the full article

PRESS RELEASE. In today’s day and age, social networks play an immense part in people’s lives. However, some privacy issues and other concerns have surfaced and become problems that many centralized bodies have yet to address. Somewhat unexpectedly, the need for a decentralized network has emerged, leaving many to try and grab a piece of the pie. With the fierce battle for market dominance that’s about to take place, some projects are trying to get the upper hand by launching certain incentives. Such is the case with Viblos — a social network that aims to become “the place to be” for users striving for democratized free social networks and provides its users with various streams for earning passive income. Viblos’ next-gen tokenized network to arrive next year The team behind the project announced the initial launch of its next generation tokenized social interaction platform earlier this month. Users will be able to employ the beta version as of March 2022, while the full rollout is expected to take place in Q2 of 2022. Viblos will work as a tokenized platform that allows its users to passively earn the native token VIBLO. How much they’ll actually end up earning depends, however, on the personal data and shared content. In addition to operating as a social network platform that has many different features, Viblos will enable its clients to interact with investors, create non-fungible tokens (NFTs) and tokenize advertising. One of the project’s promises is to never monitor or demonetize users for making dissenting comments. In fact, by stressing the importance of this promise, Viblos has become a pioneer in this regard. The team has also asserted that they’ve addressed the aforementioned concerns about privacy, hacked passwords and governmental censorship and that users will be afforded the opportunity to gain digital assets. As far as the VIBLO tokens are concerned, a total of three billion will be minted initially, with the founders receiving 20%. From the remaining 80%, 10% will go to early investors, 5% to advisers and specialists, 5% will be used for marketing and promotion and the remaining 60% will be for staking rewards and exchange among users. Setting an example None of the founders or initiators have or ever will have direct access to their tokens. They’ll only receive tokens based on the actual capitalization of the project. This model was created to avoid price dumping and flooding the market with millions of tokens. What is Viblos The interesting thing about Viblos is that it’ll allow its users to either opt for an ad-free experience or choose to watch ads and get paid for doing so. Similarly, users can also tokenize ads to promote their companies, websites, goods and services. It’s also worth noting that the project has vowed to introduce the concept of “rent out your data,” which enables users to retain the control and ownership of their own data while at the same time using it to generate income. Viblos is a tokenized mixed social network that supports social interactions and community creation based on democracy and freedom of expression. While there are, of course, limits that should never be exceeded, Viblos will never demonetize or censor anyone for having a different opinion, as is, unfortunately, the case with most of the existing big platforms. Viblos www.viblos.org 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 Prosecutor General’s Office of Russia has proposed to define cryptocurrency as property in the country’s Criminal Code. Decentralized digital money has already been qualified as such in the provisions of several other laws although various aspects of cryptocurrencies remain unregulated. Prosecutors in Russia Draft Legislation Granting Cryptocurrency Property Status The Prosecutor General’s Office of the Russian Federation has prepared a draft law to recognize cryptocurrency and other virtual assets as property. The legal definition will be used in court proceedings within the framework of the Criminal Code, Russia’s Prosecutor General Igor Krasnov explained in the State Duma, the lower house of parliament. Krasnov also expressed concerns over the growing use of modern financial technologies to commit crimes which, in his view, is facilitated by existing gaps in the legal regulation of this particular field. Quoted by the Interfax news agency, he further elaborated: The status of online platforms that provide an opportunity to buy and sell cryptocurrency anonymously has not been determined yet, and the issue of classifying virtual assets as property for the purposes of criminal proceedings has not been resolved. The Prosecutor General unveiled that his department has already taken the initiative and drafted a bill that would regulate the matter, adding that he would be grateful if lawmakers support it. So far, digital currencies such as bitcoin have been recognized as property under several other Russian acts, including the laws on bankruptcy and on enforcement proceedings, within the anti-money laundering legislation, as well as the anti-corruption law. In December last year, a bill aiming to define digital currency as property for taxation purposes was submitted to the Duma. The draft law was supposed to introduce a legal obligation for Russian citizens to report cryptocurrency holdings on their tax returns but the legislation has not yet been adopted, the report notes. Cryptocurrencies remain only partially regulated in the Russian Federation, mainly through the law “On Digital Financial Assets” which went into force in January of this year. While it introduced terms and rules pertaining to cryptocurrency and related activities like “digital currency issuance,” it doesn’t deal with other areas such as crypto mining or payments, for example. While the idea of recognizing mining as an entrepreneurial activity has been gaining support among officials in Moscow, Bank of Russia remains firmly opposed to allowing the free circulation of cryptocurrencies in the Russian economy. The head of the monetary authority, Elvira Nabiullina, recently stated that the digital ruble, which is currently under development, is what Russian citizens actually need while again rejecting cryptocurrencies that, as she insisted, pose risks to financial stability. Do you think Russian deputies will back the Prosecutor General’s proposal to define cryptocurrency as property under the country’s Criminal Code? Tell us in the comments section below. View the full article

Mohamed El-Erian, chief economic advisor at financial services company Allianz, says that bitcoin is not going to be a global currency and will not replace the U.S. dollar. However, he believes the cryptocurrency will always exist in the ecosystem and will not be regulated out of existence. Bitcoin Won’t Become Global Currency Rivalling US Dollar, Says Economist El-Erian Famed economist Mohamed El-Erian talked about the future outlook for cryptocurrencies, particularly bitcoin, in an interview with CNBC Monday. El-Erian is the chief economic advisor at Allianz, the corporate parent of PIMCO, one of the largest investment managers, where he was CEO and co-chief investment officer. The Egyptian-American businessman is also president of Queens College, Cambridge University. While El-Erian believes that bitcoin is a “very disruptive force,” he does not think it will ever become a “global currency” that rivals the U.S. dollar. He said: I think it will always exist in the ecosystem but it’s not going to be a global currency … It’s not going to replace the dollar. However, he also does not believe that bitcoin can be “regulated out of existence.” El-Erian additionally revealed that he bought some bitcoin during the “crypto winter” of 2018 when the price of BTC plunged to almost $3,000 but did not specify how much he bought. “I felt compelled to buy it — I really did … I felt like I had framed it. I had this level, I had an entry point,” he shared. The economic advisor held on to his BTC position until late 2020 when bitcoin regained the $19,000 level. However, he admitted that he misjudged when to sell due to “behavioral mistakes.” He categorized bitcoin investors into three types. The first is “fundamentalists,” who are investing for the long haul. The second is professional investors, who are looking to diversify their portfolios, and the last is day trading “speculators.” He explained that the first two types of investors are “really strong foundations for that market long-term.” However, he noted that he would only feel comfortable buying bitcoin again once some of the speculators in the market are “shaken out.” He urges the crypto industry to engage with regulators sooner rather than later as crypto is becoming more mainstream. He said this will help avoid the regulatory headwinds facing internet giants like Amazon, Google, and Facebook. “When I speak to people in the crypto industry, I say you have a responsibility not to repeat the mistake of Big Tech. The big mistake of Big Tech was they didn’t realize they were becoming systemically important, so they didn’t engage in preemptive regulatory discussions,” he detailed. Furthermore, the Allianz economic advisor warned: Crypto needs to take seriously that there are concerns about illicit payments. There’s concerns about fraud. There’s concerns about stability of platform. In August, El-Erian said, “The time has come for more western governments to stop dismissing the crypto revolution as some mix of illicit payments schemes and reckless financial speculation.” He added: “I tend to tell people: be really careful. This is an asset that wants to establish itself, but it can only establish itself if governments allow it to.” Do you agree with the Allianz economist about bitcoin? Let us know in the comments section below. View the full article

While digital currencies like bitcoin and ethereum lost roughly 10% in value during the last seven days, the decentralized finance (defi) economy has weathered the storm better than the top two leading crypto assets. A slew of blockchain games coins, defi tokens, and metaverse assets like gala, crypto.com coin, wax, kadena, wonderland, and avalanche have seen double-digit gains during the last 24 hours. TVL in Defi Weathers the Crypto Economy Storm While bitcoin (BTC) has hovered just above the $60K zone in consolidation, the defi economy and a number of other crypto assets have seen decent gains. Statistics from defillama.com show that on November 9, the total value locked (TVL) in defi protocols tapped $275 billion and today it’s only 6.54% lower at $257 billion. The defi protocol Curve commands 8% dominance amid the $257 billion with $20.63 billion TVL. Curve’s TVL is followed by Makerdao ($18.16B), Aave ($15.59B), Convex Finance ($15.34B), and WBTC ($14.66B), respectively. The top three chains today in terms of TVL in defi include Ethereum (ETH), Binance Smart Chain (BSC), and Solana (SOL). ETH captures $172.22 billion or 66.93% of the aggregate TVL in defi on Wednesday. BSC has $19.56 billion or 7.60% and SOL has $13.32 billion or 5.17%. 7 Tokens See Double-Digit 24 Hour Gains, Cross-Chain Bridge TVL Dips 6.3% in 30 Days, Uniswap Commands Today’s Top Dex Volume The top gainer during the last 24 hours is the blockchain game coin gala (GALA), up 110.4% today. Crypto.com coin (CRO) has increased 28.5%, wax (WAXP) jumped 16.7%, kadena (KDA) spiked 16.0%, wonderland (TIME) lifted 14.8%, avalanche (AVAX) rose 14.3%, and curve dao token (CRV) increased by 10%. The aforementioned seven tokens are the only coins on Wednesday that saw double-digit gains among the 10,000+ crypto assets. Other notable gainers include theta fuel (TFUEL) up 8.3%, kucoin token (KCS) jumped 5.2%, nem (XEM) rose 5.2%, polygon (MATIC) increased by 4.8%, and iota (MIOTA) spiked 4.3% during the last 24 hours. Defi cross-chain bridge action is around $23.98 billion total value locked with Ronin Bridge commanding $7.5 billion, according to Dune Analytics metrics. 30-day changes in cross-chain bridge TVL show bridge TVL is down 6.3%. The top five decentralized exchange (dex) platforms today include Uniswap (Ethereum), Trader Joe (Avalanche), Quickswap (Polygon), Alcor.exchange (WAX), and Sunswap (Tron). During the last 24 hours, the Avalanche-based Trader Joe saw $150.89 million in dex swaps, while today’s leader Uniswap processed $901 million, according to dappradar.com’s records on November 17. What do you think about the blockchain games coins, defi tokens, and metaverse assets rising above the crypto market downturn? Let us know what you think about this subject in the comments section below. View the full article

Federal Reserve Board Governor Christopher Waller says that stablecoins do not need to be regulated with all the same rules as banks. He disagrees with some of the recommendations on stablecoin regulation by the President’s Working Group on Financial Markets. He explained that while banks should be able to issue stablecoins, not all stablecoin issuers need to be banks. Fed’s Waller Disagrees That Stablecoins Need to Be Regulated With Full Banking Regulation Federal Reserve Board Governor Christopher Waller talked about stablecoin regulation Wednesday during a virtual conference organized by the Cleveland Fed. While emphasizing that “The regulatory and supervisory framework for payment stablecoins should address the specific risks that these arrangements pose — directly, fully, and narrowly,” he noted: It does not necessarily mean imposing the full banking rulebook, which is geared in part toward lending activities, not payments. Waller said that he disagrees with some of the recommendations made by the President’s Working Group on Financial Markets (PWG). The PWG, in collaboration with the Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation (FDIC), issued a report on stablecoins on Nov. 1. The report calls for the imposition of bank-like regulation on stablecoins with a sense of urgency. Waller explained that he is fine with banks being able to issue stablecoins but disagrees that only banks should be allowed to issue them. Waller also commented on central bank digital currencies (CBDCs), which the Federal Reserve is exploring with an aim to release a report on a digital dollar in the near future. The Fed governor said that he is still skeptical of the need for a CBDC, arguing that the Fed should not create a CBDC with the aim to lower payment costs. He also noted that there is already “real and rapid innovation” in the payments space. He explained in October that a digital dollar would put the Fed in direct competition with commercial banks, questioning whether it would be a good idea. “I remain skeptical that a Federal Reserve CBDC would solve any major problem confronting the U.S. payment system,” he opined. Do you think stablecoin issuers should be regulated like banks? Let us know in the comments section below. View the full article