roadrunner

PRESS RELEASE. INTERNET CITY, DUBAI, Nov. 15, 2021 – LBank Exchange, a global digital asset trading platform, will list LMCSWAP (Limocoin Swap) on November 15, 2021. For all users of LBank Exchange, the LMCSWAP/USDT trading pair will be officially available for trading at 21:00 (UTC+8) on November 15, 2021. In the ever-evolving African continent, blockchain technology and crypto are changing its economic landscape dramatically. Limocoin Swap (LMCSWAP) is a token created to allow, by the principle of crypto assets, the evolution of market solutions. The LMCSWAP token will be listed on LBank Exchange at 21:00 (UTC+8) on November 15, 2021, to further expand its global reach and help it achieve its vision. Introducing Limocoin Swap Limocoin Swap is based on a strong community built in four years by one of the subsidiaries of the parent company SIMTREX COMMERCIAL BROKERS LLC, GIT S.A. The premium product Liyeplimal is a private investment tool in the cryptocurrency industry, through its portfolio managers, who stabilize on an annual profitability of 2 to 37% interest. With a crypto currency operating license in Dubai, the company intends to offer one of the most promising financial solutions on the African continent. Based on a community of over 200,000 people around the world, it was high time to take it to the next level and switch the private token into a public cryptocurrency. With members on average packs of L $1,800 per client, the company shows over L $3,650,000,000 gross investment in funds. According to the principle of the minimum market capitalization of scalable companies X10, the token has its migration between strong stock market with a minimum capitalization of USD 3,650,000,000.00. Thus, in order to make it accessible to all who want to try the concept of Liyeplimal, the token goes on public sales with an initial value of USD 1 for 3.65 billion LMCSWAP to date created on two blockchains, including 2 billion on Erc20 and 1.650 billion on Bep20. The profitability of Liyeplimal packs does not change, still 2% to 37% of staking reward depending on the chosen pack, as well as its business model. However, in order to guarantee staker’s investments against fluctuations in varying market rates, profitability will now be evaluated in production of Limocoin Swap. These packages are strategically designed to create long term asset scarcity over time with a net rate of return of 2 to 37% per year; with the possibility of interrupting the package at any time and being returned in Limocoin of capital and interest generated pro rata. Tokenomics of LMCSWAP The total supply of LMCSWAP is 3.65 billion (i.e. 3,650,000,000), 65% of it is for development, 15% of it was for the team, 10% is for marketing, 5% is provided for charity, and the rest 5% is provided for partnership. With its community of more than 200,000 holders, the token already allows more than 1,500 merchants and institutions that accept it as a preferred means of payment across the whole of Africa. The LMCSWAP token will be listed on LBank Exchange at 21:00 (UTC+8) on November 15, 2021, investors who are interested in Limocoin Swap investment can easily buy and sell LMCSWAP token on LBank Exchange by then. The listing of LMCSWAP on LBank Exchange will undoubtedly help it further expand its business and draw more attention in the market. Learn More about LMCSWAP Token: Official Website: https://www.liyeplimal.net Listing Announcement on LBank Exchange: About LBank Exchange LBank Exchange, founded in 2015, is an innovative global trading platform for various crypto assets. LBank Exchange provides its users with safe crypto trading, specialized financial derivatives, and professional asset management services. It has become one of the most popular and trusted crypto trading platforms with over 6.4 million users in more than 210 countries around the world. Visit LBank on social media: l Facebook l Twitter l LinkedIn Contact Details: LBK Blockchain Co. Limited LBank Exchange marketing@lbank.info 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 CEO of the world’s largest movie exhibition company, AMC Entertainment, says that payment service provider Bitpay has agreed to support the meme cryptocurrency shiba inu (SHIB) at his request. AMC will be able to accept shiba inu crypto for payments within the next few months. AMC Says Bitpay Agrees to Support Shiba Inu: SHIB to Be Accepted for Payments at AMC Soon AMC CEO Adam Aron announced Monday evening that AMC will soon be able to accept the meme cryptocurrency shiba inu (SHIB). AMC is the largest movie exhibition company in the U.S., Europe, and the world. As of March 31, the company owned or operated about 950 theaters and 10,500 screens globally. He tweeted that crypto payment service provider Bitpay has decided to support shiba inu specifically because he asked them to. Therefore, AMC will be able to take SHIB for online payments of movie tickets and concessions in about 60 to 120 days. Aron added that AMC Theatres is set to become the first Bitpay client to accept shiba inu. The AMC CEO previously said that his company has been trying to find a way to accept SHIB ever since he set up a Twitter poll on Oct. 29 asking his followers whether AMC should accept shiba inu alongside dogecoin (DOGE) and other cryptocurrencies. Out of a total of 153,100 votes, 87.6% said “Yes.” Last week, Aron tweeted: “As promised, many new ways now to pay online at AMC. We proudly now accept: drumroll, please … bitcoin, ethereum, bitcoin cash, litecoin. Also Apple Pay, Google Pay, Paypal. Incredibly, they already account for 14% of our total online transactions! Dogecoin next.” AMC Accepts Paypal Which ‘Supports Cryptocurrencies’ While many people expect AMC to accept the four cryptocurrencies through Bitpay, the movie theater chain decided to just add Paypal as a payment option, which AMC says, “Supports cryptocurrencies.” While Paypal does support cryptocurrencies — the same four offered by AMC — customers must buy them through Paypal as the platform does not offer the ability to transfer coins to or from it. Before making a purchase, customers must also sell their coins and use the proceeds to make the purchase. Paypal started offering its users the option to use Paypal balance, either in fiat currency or cryptocurrencies, to pay for goods and services in March through a program called “Checkout with Crypto.” The payments giant clarified, “you will need to sell your crypto assets and withdraw the cash proceeds from their sale or use those cash proceeds to pay for purchases,” emphasizing: “You also cannot use crypto assets directly as currency to pay for goods or services.” However, if AMC adds Bitpay as a payment option in the future, the company will automatically be able to accept more cryptocurrencies. Bitpay currently supports “payment in bitcoin (BTC), bitcoin cash (BCH), ethereum (ETH), wrapped bitcoin (WBTC), dogecoin (DOGE), litecoin (LTC), and 5 USD-pegged stablecoins (GUSD, USDC, USDP, DAI, and BUSD),” its website details. What do you think about AMC convincing Bitpay to support shiba inu so it can accept SHIB for payments? Let us know in the comments section below. View the full article

Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, says that he has never shorted any cryptocurrency. He further warned that the current bubble is the biggest one. Michael Burry on Bubbles and Shorting Cryptocurrencies Famous investor and founder of private investment firm Scion Asset Management, Michael Burry, has confirmed on Twitter that he has never shorted cryptocurrency. Burry is best known for being the first investor to foresee and profit from the U.S. subprime mortgage crisis that occurred between 2007 and 2010. He is profiled in “The Big Short,” a book by Michael Lewis about the mortgage crisis, which was made into a movie starring Christian Bale. He tweeted Sunday: I’ve never shorted any cryptocurrency. This is my third bubble, and the biggest. I’ve learned a thing or two. 30 year Treasuries on the other hand… In October, he said, “I believe that cryptocurrencies are in a bubble.” However, he clarified in an interview with CNBC that he had not been shorting cryptocurrencies despite tweeting about how to short them. “How do you short a cryptocurrency? Do you have to secure a borrow? Is there a short rebate? Can the position be squeezed and called in? In such volatile situations, I tend to think it’s best not to short, but I’m thinking out loud here,” He wrote. In June, Burry warned of “the mother of all crashes.” He described at the time, “When crypto falls from trillions, or meme stocks fall from tens of billions, Main Street losses will approach the size of countries. History ain’t changed.” The Big Short investor is not the only one predicting a devastating bubble. Earlier this month, billionaire investor Stan Druckenmiller said that everything is in a bubble. “Crypto, meme stocks, art, wine, equities … This bubble is in everything, every asset on the planet,” he cautioned. Meanwhile, Rich Dad Poor Dad author Robert Kiyosaki has repeatedly warned of an impending crash. At the end of October, he predicted that a giant crash is coming, followed by a new depression. He recommends investors buy gold, silver, and bitcoin. What do you think about Michael Burry’s comments? Let us know in the comments section below. View the full article

Investment firm Paradigm has launched a $2.5 billion venture fund to invest in the next generation of crypto companies and protocols. The firm believes that the “new fund and its size are reflective of crypto being the most exciting frontier in technology.” $2.5 Billion Fund for Crypto Industry Investment firm Paradigm announced Monday the launch of a $2.5 billion venture fund to invest in the next generation of crypto companies and protocols. Matt Huang and Fred Ehrsam, who co-founded Paradigm in 2018, explained: Our conviction in these beliefs has only strengthened over the past three years, and we are pleased to announce a new $2.5 billion venture fund to continue investing in the next generation of crypto companies and protocols. “This new fund will invest alongside our existing flagship fund across all stages and geographies,” they noted. Ehrsam also co-founded the Nasdaq-listed crypto exchange Coinbase. Huang was previously a partner at Sequoia Capital focusing on early-stage venture investments including leading the firm’s cryptocurrency efforts. The two co-founders finished raising $2.5 billion this month for Paradigm One, their first venture capital fund. The fund raised was twice the amount they initially targeted, the Financial Times reported. Nonetheless, Ehrsam told the publication, “It is probably small relative to where we’re going in 10 years.” This is the largest new venture capital fund in history for the crypto space, the publication noted. Earlier this year, VC firm Andreessen Horowitz raised $2.2 billion for its new cryptocurrency fund, which at the time it said was the “largest crypto fund ever raised.” Paradigm’s first fund, which is structured like a hedge fund, raised an initial $400 million in 2018. Its annual internal rate of return was more than 200% through the first half of this year, according to figures viewed by the Financial Times. The fund’s assets have reached as high as $10 billion. Ehrsam and Huang further detailed: This new fund and its size are reflective of crypto being the most exciting frontier in technology. Over the past decade, crypto has come a long way. However, they emphasized, “The journey is just beginning, and the potential of crypto has never been more clear.” What do you think about Paradigm launching a $2.5 billion venture fund to invest in the next generation of crypto companies and protocols? Let us know in the comments section below. View the full article

PRESS RELEASE. SEYCHELLES, 15 November 2021 – CoinFLEX, leading crypto exchange and yield platform, has partnered with Copper.co, a global digital asset custodian and trading solutions provider by integrating with their ClearLoop instant settlement trading network. The partnership expands CoinFLEX’s crypto yield products to more institutional investors globally, starting with flexUSD, the world’s first interest-earning stablecoin. This partnership will help accelerate flexUSD to a US$1 billion market cap by Q1 2022. flexUSD is currently paying 16% APY and has distributed $11 million in interest to holders over the past 12 months. The partnership will enable Copper’s 300+ institutional asset managers to trade flexUSD on CoinFLEX while securely storing their assets offline and off the exchange. The integration with ClearLoop adds an extra layer of regulatory assurance for institutional investors, while providing more crypto trading options to Copper’s clients. ClearLoop connects exchanges like CoinFlex to traders and custodians – enabling one, secure trading loop, with instant settlement. Investors can settle digital currency transactions off-exchange – eliminating the need to deposit and withdraw assets from an exchange in real-time, securely maximizing capital efficiency. “We are excited for this partnership with CoinFLEX, and for our client base to trade and earn from a crypto yield offering such as flexUSD,” said Dmitry Tokarev, Founder and CEO, Copper.co. “This directly aligns with our commitment to ensure that institutional investors are offered a wide range of quality crypto products and can trade efficiently and securely on the Copper network.” For the first time, Copper’s institutional clients can access a highly liquid, easily redeemable, yield-generating stablecoin via the Copper platform. This integration is inline with CoinFLEX’s efforts to advance expansion plans for greater institutional user adoption. This symbolizes the exchange’s commitment to amplify liquidity and innovate, develop, and strengthen the CoinFLEX ecosystem. CoinFLEX Q4 2021 key milestones October 2021: CoinFLEX reached US$8 billion in daily trading volume with open interest exceeding US$ 350 million November 2021: CoinFLEX’s total repo market volume exceeds US$300 billion, pushing flexUSD’s market cap to US$380 million “Joining ClearLoop marks a major milestone for CoinFLEX as we begin to push our business expansion plans to increase institutional users,” said Mark Lamb, CEO of CoinFLEX. “By enhancing the adoption of flexUSD through trading activities, it will also propel the credibility and increase the utility of the stablecoin across institutional users including hedge fund and asset managers whilst ensuring that they have a highly secure way of interacting with us.” About Copper Founded in 2018, Copper helps bridge institutions into crypto by offering custody, prime brokerage, and settlements across 250 digital assets and more than 40 exchanges. Copper’s unique crypto products and multi-award-winning custody allows clients to safely acquire, trade, and store cryptocurrencies, including access to margin lending trading facilities and the DeFi space. ClearLoop is at the core of Copper’s infrastructure and connects a broad network of exchanges together in one secure trading loop and with instant settlement across networks. About CoinFLEX Founded in 2019, CoinFLEX is the Home of Crypto Yield and is committed to providing institutional and retail investors an easily accessible platform to earn and trade crypto. CoinFLEX creates innovative solutions to bring investors and crypto markets together through intuitive yield products such as flexUSD, the world’s first interest-earning stablecoin, and AMM+, the most-capital efficient automated market maker in the world. CoinFLEX is backed by crypto heavyweights, including Roger Ver, Mike Komaransky, Polychain Capital, and Dragonfly Capital. Telegram | Twitter | Discord | LinkedIn | Facebook | Youtube | 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

While bitcoin’s value has remained well above the $60K range, the network’s hashrate has surged to over 184 exahash per second (EH/s) as mining devices are far more profitable at these prices. The price has made it so that older generation mining devices manufactured over four years ago, with processing power of more than 8 terahash per second (TH/s), can make a daily profit mining the leading crypto asset. Bitcoin Hashrate Follows Ethereum’s Hashrate Toward All-Time Highs On November 15, 2021, Bitcoin’s hashrate climbed to 184 EH/s gathering 17.19% more hashpower than the network saw a mere two days ago on November 13. Bitcoin’s (BTC) hashrate is getting close to nearing its all-time high (ATH), which was recorded on May 9, 2021, at 191 EH/s. Today’s Bitcoin hashrate metrics show that the hashpower is only 3.8% away from surpassing its ATH, according to coinwarz.com data. In addition to BTC’s hashrate nearing ATH, the second-largest crypto asset in terms of market valuation, ethereum’s (ETH) higher prices have also propelled its network hashrate. At 932 TH/s, Ethereum’s hashrate is awfully close to a single petahash per second or 0.001 EH/s. Ethereum’s hashrate has already reached an ATH and has continued to soar higher, capturing new records. It’s worth it for miners to mine ether in comparison to BTC, as ETH is the third most profitable network to mine. At press time, the most profitable ether mining rig the Innosilicon A11 Pro that produces 1,500 megahash per second (MH/s) or 0.0015 TH/s can rake in $109.29 per day. The profit estimate stems from asicminervalue.com using today’s ether exchange rates and $0.12 per kilowatt-hour (kWh) in electric consumption. Using Today’s Exchange Rates, Top 3 Bitcoin Miners Make $36 per Day — Bitcoin Miners Manufactured Over 4 Years Ago Still Profit The profits for the ether mining rigs are larger than BTC’s mining profits stemming from the most profitable application-specific integrated circuit (ASIC) mining devices. Three SHA256 compatible miners on the market today, however, can command $36 per day in profits using $0.12 per kWh in electric consumption and today’s BTC prices. The Microbt Whatsminer M30S++, the Ipollo B2, and the Bitmain Antminer S19 Pro are today’s most profitable BTC miners on the market, according to stats from asicminervalue.com. All three models boast hash speeds at over 100 TH/s. The Canaan Avalonminer 1246 which boasts 90 TH/s produces an estimated $27.55 per day using today’s exchange rates. Furthermore, besides the top mining devices pulling in the highest profits, old school miners from 2016 are now profiting. For instance, using $0.12 per kWh in electricity per day and today’s BTC prices, a Bitmain Antminer R4 (8.7 TH/s) can get at least $1.18 per day. The R4 mining rig was produced in 2017 and the popular Bitmain Antminer S9 (11.5 TH/s), manufactured over four years ago can get up to $1.53 per day with electrical rates at $0.12 per kWh. What do you think about the recent mining action and Bitcoin’s hashrate climbing to 184 exahash per second? Let us know what you think about this subject in the comments section below. View the full article

During the last week, mainstream media outlets have been publishing reports that say “Bitcoin’s creator Satoshi Nakamoto could be unmasked at [a] Florida trial.” Alongside this, the name “Satoshi Nakamoto” has been trending in people’s discussions on social media for the last few days as well. The Internet Is Buzzing Over Conversations Concerning Bitcoin’s Mysterious Creator Last week, the long-awaited Kleiman v. Wright trial started in Florida and the court case has sparked significant interest from mainstream media publications like Fox News, the Daily Mail, and the Wall Street Journal. Vertical trends on Twitter also indicate that the name “Satoshi Nakamoto” has been in the midst of many conversations this week. Since October 2, interest in Bitcoin’s creator has increased 48.71%, according to Google Trends’ search query score for the topic “Satoshi Nakamoto.” The aforementioned media publications have been asserting in a few editorials that the Florida trial could uncover the very identity of Satoshi Nakamoto. The Kleiman family and Ira Kleiman, the brother of the now deceased, computer forensics expert, Dave Kleiman, believe their Dave’s fortune was manipulated. The Kleiman estate accuses Craig Wright of perpetrating “a scheme against Dave’s estate to seize Dave’s bitcoins and his rights to certain intellectual property associated with the Bitcoin technology.” Speaking with the Wall Street Journal’s (WSJ) Paul Vigna, the Kleiman’s family attorney Vel Freedman explained the plaintiffs think they have a strong case against the self-proclaimed Bitcoin inventor, Craig Wright. “We believe the evidence will show there was a partnership to create and mine over one million bitcoin,” Freedman told Vigna. Skeptics Criticize Media Reports That Discuss a So-Called Unmasking After the WSJ reporter shared the story on Twitter, Vigna was berated for giving Wright’s story publicity. Wizsec Bitcoin Research, a group of researchers that have criticized Wright’s story on various occasions in the past, called Vigna’s WSJ editorial “irresponsible.” “The way you air their claims while willfully leaving out or downplaying the proven lies, forgery and fraud is beyond irresponsible,” Wizsec said to Vigna on Twitter. “You are knowingly introducing your readers to a scam without properly warning them that it’s a scam. Any future victims among them are on you.” Another person wrote to Vigna and asked: Whatever happened to fact-checking? Wright’s Backers Believe the High-Profile Court Case Will Settle Matters Meanwhile, Wright’s believers and bitcoinsv (BSV) proponents wholeheartedly believe this case will settle matters once and for all. One ardent follower wrote: “Dr. Craig Wright is Satoshi Nakamoto — BSV is the Real Bitcoin.” On November 15, the gambling tycoon and billionaire Calvin Ayre tweeted that the news is getting out about the Florida trial, and shared an editorial written by Fox News called: “Bitcoin creator Satoshi Nakamoto could be unmasked at Florida trial.” “Message of the Satoshi trial is leaking out and there will be a big audience for the full history of Bitcoin being rolled out now under oath in Florida,” Ayre wrote on Monday. Wright Continues to Argue Under Oath That He Alone Invented Bitcoin — Wright’s Detractors Still Don’t Believe Him So far, the case has revealed a few interesting things as the court officials and lawyers have been told that Wright has autism spectrum disorder (ASD). Despite attempts from the Kleiman side to make this inadmissible, it was decided the jury would deliberate on the matter. Wright continues to contest that he invented Bitcoin on his own and Dave Kleiman was not a partner while he created the technology. Furthermore, the artist known as “@Fractalencrypt” has transcribed Wright’s statements on day seven of the trial. Fractalencrypt’s long Twitter thread started at the end of day six and has been very popular. According to Fractalencrypt’s transcription, in the face of many documents, Wright continued to contest throughout the trial that Kleiman was a friend, but not the co-creator of Bitcoin. What do you think about the Kleiman v. Wright trial and the discussions surrounding this case on social media? Let us know what you think about this subject in the comments section below. View the full article

India’s parliamentary committee on finance has held a meeting with representatives from the crypto industry and other stakeholders on cryptocurrency and its oversight. “There was an understanding that cryptocurrency can’t be stopped but it must be regulated” and “There was a consensus that a regulatory mechanism should be put in place to regulate cryptocurrency.” First Parliamentary Meeting Dedicated to Crypto With Stakeholders and Industry Experts India’s Standing Committee on Finance held a meeting with representatives from the crypto industry Monday. This was India’s first-ever parliamentary discussion of the broad subject of crypto finance involving the industry. According to a notice posted by Lok Sabha Secretariat, the official agenda of the meeting circulated to members of parliament was to hear the views of associations and industry experts “on the subject of ‘cryptofinance: opportunities and challenges.’” The meeting was chaired by BJP’s Jayant Sinha. Sinha told news agency PTI ahead of the meeting: We have called stakeholders from across the industry including operators of major exchanges, members of CII [Confederation of Indian Industry] as well as academics from the Indian Institute of Management (IIM) Ahmedabad, who have done a very thorough study on crypto finance. According to reports, the representatives from the crypto industry include executives of crypto exchanges and members of the Blockchain and Crypto Assets Council (BACC). The meeting aimed to discuss the way forward for the crypto industry as well as crypto promotion in India. The Outcome of the Meeting and the Need for Crypto Regulation Following the meeting, sources told ANI publication: There was an understanding that cryptocurrency can’t be stopped but it must be regulated … There was a consensus that a regulatory mechanism should be put in place to regulate cryptocurrency. However, the publication added that industry associations and stakeholders were not clear as to who should be the regulator overseeing the crypto sector in India. In addition, the security of investors’ money was the most serious concern expressed by parliament members at the meeting. One member of parliament stressed concern over full-page crypto ads in national newspapers. Another parliament member pointed out that El Salvador is the only country to recognize cryptocurrency as legal tender alongside the U.S. dollar. “Experts said that cryptocurrencies are some sort of investors’ democracy,” the publication noted, adding: Members of Parliamentary Standing Committee on Finance now want government officials to appear before them and address their concerns. Recently, the governor of the central bank said that the Reserve Bank of India (RBI) has serious and major concerns regarding cryptocurrency. “Cryptocurrencies are a serious concern to RBI from a macroeconomic and financial stability standpoint,” said Governor Shaktikanta Das. What do you think about the Indian parliamentary committee meeting with industry experts on crypto? Let us know in the comments section below. View the full article

On Monday, the enterprise bitcoin mining operation Marathon Digital Holdings announced the firm will raise $500 million from convertible senior notes in order to accrue more “bitcoin or bitcoin mining machines.” Publicly-Listed Mining Operation to Raise $500M From Debt Markets to Purchase Bitcoin and ASIC Devices Marathon (Nasdaq: MARA), is one of the largest U.S. mining operations and on November 15, the firm revealed it plans to utilize debt markets for “general corporate purposes, including the acquisition of bitcoin or bitcoin mining machines.” The news comes after significant growth during the course of 2021 and at the end of October, Marathon disclosed it had mined 417 bitcoin (BTC). With over $457 million worth of bitcoin held in its coffers, the 417 BTC revenue was considerably larger than the month prior. “As in prior months, our bitcoin production was impacted by maintenance-related outages at the power plant in Hardin, MT and increases in the total network hash rate,” Marathon’s CEO Fred Thiel explained. “However, with shipments of our previously purchased miners accelerating over the coming months, we continue to expect our bitcoin production to become more consistent as we scale,” the Marathon executive added. In a press release sent to Bitcoin.com News, the company said on Monday that it plans to issue “$500,000,000 aggregate principal amount of convertible senior notes” that will mature on December 1, 2026. The notes will obtain interest semi-annually unless they are “repurchased, redeemed or converted,” Marathon’s press release notes. “Marathon intends to use the net proceeds from the offering for general corporate purposes, including the acquisition of bitcoin or bitcoin mining machines,” the company disclosed. Marathon Shares Have Risen More Than 230% in 6 Months — After Controversy Ensued, Bitcoin Mining Firm Dropped OFAC Transaction Filtering in May The U.S. company’s shares listed on Nasdaq have done well in recent times and Marathon has been holding BTC on its balance sheet like its mining competitors Argo, Hut8, Riot Blockchain, and Bitfarms. Six months ago, MARA shares were trading hands for $22.99 on May 18, and today shares swap for $75.92. Bitcoin.com News reported on Marathon buying BTC for a reserve asset at the end of January following the company’s record-breaking acquisition of 70,000 ASIC bitcoin miners in December 2020. Marathon came under controversy this year when the enterprise mining operation mined its first OFAC-compliant block. It meant that at the time, Marathon was filtering transactions to be compliant with the Office of Foreign Assets Control’s (OFAC) sanction guidelines. However, the company dropped this filtering procedure after it was well established that the Taproot upgrade would happen. Marathon said the company’s mining pool would “no longer filter transactions” and “begin validating transactions in a manner consistent with all other miners who use the standard node.” Two months later, the firm revealed it purchased 30,000 S19j Pro Antminers from Bitmain and after it published July’s bitcoin production and mining operation it was revealed that Fidelity Investments owns a 7.4% stake in Marathon. The latest financing proposal to leverage convertible senior notes indicates the firm continues to believe in the bitcoin mining industry’s exponential growth. At press time, Bitcoin’s hashrate has been once again nearing all-time highs and the current hashrate on November 15, is a whopping 181 exahash per second (EH/s). What do you think about Marathon using debt markets to raise $500 million in order to acquire bitcoin and bitcoin mining rigs? Let us know what you think about this subject in the comments section below. View the full article

Singapore, November 15, 2021 – The Tron Foundation (TRX), the world’s largest blockchain decentralized application operating system, and crypto-fiat hybrid payment solutions provider, Alchemy Pay (ACH), have announced a collaboration. Alchemy Pay will integrate the TRX token into its global crypto-fiat gateway. The partnership also further entails the support of Alchemy Pay by the Tron Foundation in the provision of technical resources, cross-community promotions, and other ecological development initiatives that will foster joint efforts between Alchemy and TRON ecosystems. This partnership comes on the back of the successful test trading of TRX tokens through Bit.Store, a crypto investment platform powered by Alchemy Pay. Bit.Store is an intuitive crypto trading platform popular among new crypto investors with 500,000 users across Australia, Canada, Hong Kong, Indonesia, and the United Kingdom. The platform leverages Alchemy Pay’s fiat payment rails to enable direct fiat-to-crypto investment, including Visa, Mastercard, PayPal, and local payment channels such as OVO and Dana mobile wallets, and cross-border bank transfers. In addition to enhancing TRX liquidity across investment platforms such as Bit.Store, Alchemy Pay will amplify the use cases of the TRX token by integrating TRX onto its payment system. This will allow TRX to be accepted as a form of payment across Alchemy Pay’s merchant network. As part of the collaboration, Tron Foundation and Alchemy Pay will join the Blockchain Infrastructure Alliance – as founding members – which comprises a growing list of blockchain industry leaders, including crypto exchanges, stablecoin issuers, and DeFi platforms. The alliance will jointly promote and drive the growth and advancement of the cryptocurrency and blockchain space and act as an incubator for new projects. More information on Blockchain Infrastructure Alliance can be found at www.bia.network. About TRON (TRX) TRON (TRX) is the world’s largest blockchain decentralized application operating system, providing high-throughput, high-scalability, and high-reliability underlying public chain support for the operation of decentralized applications on the protocol. TRX has been listed on more than 130 exchanges, linking millions of value investors around the world, and is one of the world’s most valuable cryptocurrencies. Website: http://Tron.network Twitter: http://twitter.com/tronfoundation Telegram: https://t.me/tronnetworkEN About Alchemy Pay (ACH) Alchemy Pay is the inventor of the world’s first hybrid fiat and digital currency gateway solution for businesses and investors. Alchemy Pay powers seamless crypto and fiat acceptance for merchant networks, developers, and financial institutions, and powers adoption of blockchain technology by making crypto investment and DeFi services readily accessible to consumers and institutions in the fiat economy. Today, Alchemy Pay operates in 65 countries and regions and has touchpoints with more than 2 million merchants through partnerships with industry giants such as Binance, Shopify, Arcadier, QFPay and more. Website: http://alchemytech.io Twitter：http://twitter.com/alchemypay Telegram：http://t.me/alchemy_official This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

The government in Cameroon, which is reportedly keen on regulating cryptocurrencies, is set to hold a workshop that will look at the challenges and risks of using such digital currencies in the country. Proliferation of Scams According to a report by Business in Cameroon, the workshop, which is set to be held on November 15 in Yaounde, is being organized by the Ministry of Posts and Telecommunications. At this meeting, participants are expected to review mechanisms that will help the government to regulate the cryptocurrency sector. The ministry said the country’s lack of a regulatory framework, which has led to the proliferation of scams, had prompted the government to organize the workshop. The report also revealed that the ministry will not only highlight the importance of regulation but will seek to map out cryptocurrency actors present in Africa and in the national territory. In addition, the ministry will attempt to use the meeting to estimate the extent to which the services offered by these actors are utilized, the report explained. Electronic Money Regulation According to a report published in December 2020 by Prime Law Office, Cameroon, which has a very small community of blockchain dealers, does not have a single law that regulates cryptocurrency. The only legal framework that regulates digital money, according to the report, is the Central African Economic and Monetary Community (CEMAC) regulation on the use of electronic money. Still, this law does not specifically regulate cryptocurrency transactions. It is this lack of specific laws governing the use of cryptocurrencies, as well as the growing use of such currencies, that appears to have compelled the Cameroonian government to take action. What are your thoughts on this story? Tell us what you think in the comments section below. View the full article

Zanzibar is keen on getting stakeholders’ views on the viability of adopting digital currencies before a final decision is made, a government minister has said. The Importance of Getting the Views of Stakeholders In his remarks during an interview with The Citizen, Mudrick Soraga, who is the Minister of State, revealed his government is planning to meet stakeholders in the third week of November. Soraga also explained why such a meeting is necessary. He said: We are seeking views on the matter before deciding whether it is viable or not. You cannot make such a decision without getting input from stakeholders, including banks and the ministries of Finance and Foreign Affairs. According to the report by The Citizen, Soraga has already met with Joe Chuene, a representative of Hypertech and they discussed how best the island nation can adopt cryptocurrencies. The report also quotes Haji Semboja, a professor at the State University of Zanzibar’s Economics Department, who endorses the government’s decision to engage stakeholders first. However, Semboja warned that since finance is a Union issue, the Zanzibar government, therefore, is obliged to liaise with the Tanzanian government via the Bank of Tanzania. Through this arrangement, the two governments will come up with policies that will explain the objectives of the digital currency, how it works, as well as its benefits, the report explained. Definition of Cryptocurrencies Key Meanwhile, Sandra Chogo, a cryptocurrency expert and author of the book titled Jielimishe Kuhusu Blockchain, is quoted in the report highlighting the importance of defining or clarifying the status of cryptocurrencies first. It is only when this has been done will the government be able to come regulations as well as which body should regulate cryptocurrencies. While many of the experts quoted in the report appeared to support the Zanzibar government’s tilt towards cryptocurrencies, one unnamed economist had a divergent opinion. According to this economist, cryptocurrencies need to be accepted by central banks globally if they are to become an efficient and effective medium of exchange. “Currencies are stable globally because they are supported by central banks through strong monetary policies,” the economist explained. What are your thoughts about this story? Tell us what you think in the comments section below. View the full article

A new crypto tax paradigm is brewing in Argentina, where two provinces have now approved crypto tax laws. This means that Argentinian citizens must disclose their cryptocurrency holdings and pay taxes according to the trades they do in the provinces of Tucuman and Cordoba. This is because cryptocurrencies have been grouped with all other international currencies, and are therefore subject to tax. Cryptocurrencies Will Be Taxed in Certain Provinces of Argentina Cryptocurrency taxes have arrived in Argentina, at least in certain provinces. Now, users that trade and hold cryptocurrencies must disclose their earnings and pay taxes at least in two provinces: Cordoba and Tucuman. The reason behind this lies in a new regulation adopted at the province level that stipulates cryptocurrencies will be taxed like other international currencies when traded. This means that effectively, in these two provinces, cryptocurrencies are treated as other international currencies according to regulation. The province of Tucuman recently approved an amendment to article 223 of the law that states: Purchase and sale of foreign currency and government securities. The operations of the purchase and sale of digital currencies are included in this subsection. Cordoba, another province that approved a similar resolution earlier this year, also determined that cryptocurrency trades will be taxed, but it extends this tax provision to people or companies receiving payments in cryptocurrencies for their products or services. Cryptocurrency More and More Popular The inclusion of cryptocurrencies in the scope of these laws is something that is being considered in several countries of the world, due to the rising popularity of these instruments as an asset class and also as a payment method. Governments are starting to realize that by not regulating these payments they are losing out on a lucrative income source. In fact, the government of Mexico has recommended taxing this kind of transaction with a 20% fee. Cryptocurrencies started picking up steam in Argentina after the government put a limit on the number of dollars each citizen could buy monthly. This was the breaking point for a country that was not known for its cryptocurrency involvement, to take interest in these new crypto tools that provided a savings alternative amidst the aforementioned situation. But it’s not only cryptocurrency payments having success in Argentina. Due to its cheap energy, the country has become an interesting choice for bitcoin mining companies like Bitfarms, which is already building a Bitcoin mega-mining farm to take advantage of the affordable energy rates in the area. What do you think about the new cryptocurrency taxes in Argentina? Tell us in the comments section below. View the full article

William Quigley loved baseball cards during his pre-teens. As the founder of WAX (Worldwide Asset Exchange), you might think Quigley’s crowning achievement may have been to strike a deal with Topps Baseball Card company, so WAX could manage and create NFTs with the MLB. However, Quigley was able to add another giant feather to his cap as WAX recently completed the rare “hat trick” as the official NFT partner for the toy industry’s “big three” – Funko, Hasbro and Mattel. WAX was already a trusted partner for many, working with well-known intellectual property including “SAW”, “The Princess Bride”, “Blade Runner”, and already had multiple massively successful NFT drops for Topps (with more planned), Capcom, and others; but the business is now in rare company with this week’s upcoming launch of the Mattel Hot Wheels NFT Garage line which completes the trifecta WAX began with successful partnerships with Funko and Hasbro earlier this year. “As we innovate within the NFT space, WAX continues to align with incredible, iconic brands,” said William Quigley, CEO of WAX. “To be entrusted by the “Big Three” of the toy industries is not only gratifying but it validates what WAX as a company is trying to do.” Available for a limited time, exclusively through Hasbro Pulse, Hasbro’s Power Rangers NFT drop collection featured the iconic franchise that first swept through the American airwaves in the 1990s. Hasbro Pulse Premium members had exclusive access to purchase the collection on HasbroPulse.com, while supplies lasted. Fans were able to expand their collections with a Power Rangers NFT, uniquely transacted through the blockchain that can be redeemed for a special edition Dino Megazord. “We were thrilled to partner with WAX to offer Hasbro’s first-ever NFT collection with the Power Rangers franchise,” said Kwamina Crankson, Vice President and General Manager at Hasbro Pulse. “The WAX platform gives fans an easy entry point into the world of NFTs and digital collectibles.” Added William Quigley, “WAX is the trailblazer in NFT innovation and we are going big with global play and entertainment company, Hasbro to integrate one of their most iconic brands, Power Rangers, into the blockchain ecosystem.” Quigley continued, “Our vIRL technology is changing the way people shop and trade collectibles with consumers able to purchase NFTs and redeem them for a physical item.” Perhaps one of WAX’s most prolific partnerships lies in their connection to Funko. Funko has been extremely active in the NFT space lately as they launched its Iron Maiden Digital POP collection, the first band to be immortalized as Digital POP characters. Funko’s Iron Maiden Digital Pop! NFT collection of course stars the iconic ‘Eddie’ who has featured on all the band’s album covers throughout their career. Of the collection, Chief Executive Officer at Funko, Brian Mariotti noted, “Iron Maiden and Funko fans alike appreciate creative genius in music and pop culture. Now, they can celebrate both in digital form.” Funko recently released their Digital Pop! Collectibles based on the iconic figure, Big Boy. The fast-food icon with chubby cheeks and checkered overalls, Big Boy has been dotting American pop culture and roadways for 85 years. With a celebrated history of Big Boy’s life as a bobblehead, Big Boy’s digital adventure was featured by WAX. The sensational Teenage Mutant Ninja Turtles (TMNT) franchise began in 1987 and became an instant hit — inspiring numerous comics, movies, and cartoons. Thirty-four years later, Funko and TokenHead brought these “heroes in a half shell” to life in a collection of Digital Pop! on the WAX Blockchain. Then there’s the Mattel Collection. More than 5,000 NFTs in this release are redeemable for real-life special edition die-cast cars, as part of this vIRLs (virtual+In Real Life) collection. “Hot Wheels and Mattel have proven to be a perfect partner to showcase the unique offering our vIRL technology provides for collectors,” stated William Quigley. On their partnership, Andrew Chan, Head of Digital Gaming at Mattel, stated, “Collectors will have a chance to obtain exclusive physical die-casts vehicles and importantly, the NFTs will be minted on the sustainable WAX blockchain.” Chan continued, “The Hot Wheels design team chose 40 new designs for fans to continue to build their collections of Hot Wheels digital NFT artwork and physical die-cast vehicles!” Select tokens will unlock access to real-world Hot Wheels products including the Twin Mill, Rodger Dodger, Mach Speeder, SS Camaro and the Bone Shaker – which is the rarest of them all. The collection launches November 16, 2021at 10 am Pacific / 1 pm Eastern. “It’s intriguing to see content digitized, come to life and become so valuable… think of what the future might bring,” Quigley said. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

The United States Securities and Exchange Commission (SEC) has introduced an action against Terraform Labs, the company behind the design of the Terra blockchain, and its co-founder and CEO Do Kwon. The SEC is seeking an order for Kwon to comply with a series of subpoenas he has failed to address. The investigative subpoenas seek Kwon’s testimony and the production of documents from Terraform Labs SEC Acts Against Terraform Labs and Do Kwon The United States Securities and Exchange Commission (SEC) has taken the next step in its battle against Terraform Labs, the company behind Terra, and its co-founder and CEO Do Kwon. According to a litigation release, the SEC has filed an order that seeks to compel the company to comply with a series of subpoenas the SEC delivered to Kwon, which he has failed to address. According to the document, these subpoenas include petitions for Kwon’s testimony and also the production of documents from Terraform Labs. These actions are part of an investigation that the SEC is currently undertaking regarding Mirror Protocol, a synthetic asset protocol that lets users trade “massets” — tokens with price equivalence to stocks traded on U.S. soil. The SEC stated it has reason to believe that Terraform Labs and Do Kwon “participated in the creation, promotion, and offer to sell massets and MIR tokens to U.S. investors.” This would be a violation of U.S. federal laws, by way of selling or offering securities without having registered them, acting as an unlicensed securities broker. However, the document states: The SEC is continuing its fact-finding investigation and, to date, has not concluded that any individual or entity has violated the federal securities laws. Do Kwon’s Lawsuit Still Ongoing The served subpoena and the factors that surrounded its delivery are also being contested in a lawsuit launched by Do Kwon. The documents were served to him while he was presenting at a conference in the country, Messari’s Mainnet. According to Kwon’s legal counsel, the delivery of this subpoena was illegal, because Kwon was served the subpoena in public. This goes against SEC policy stating these procedures must be done in a confidential way, and many assistants witnessed the delivery. Kwon’s filing stated he had been in conversation with the SEC regarding Mirror Protocol since some time ago, and that he was surprised by the actions. What do you think about this new action from the SEC against Do Kwon and Terraform Labs? Tell us in the comments section below. View the full article

This year, the Sky Mavis-crafted blockchain game Axie Infinity has seen incredible growth and has recently surpassed $3 billion in all-time sales. However, researchers at Naavik explain in a recent study that Axie Infinity players called ‘scholars’ are seeing daily earnings drop, and many have seen earnings dip below the minimum wage line of countries like the Philippines. Naavik Researchers Take a Deep Dive Into Axie Infinity — ‘Scholar’ Earnings Have Been Dropping Since August The Ethereum-based blockchain game Axie Infinity is one of the most popular video games hosted on a distributed ledger network. The game was developed by a studio called Sky Mavis, and as of this week metrics from dappradar.com indicate the game has seen $3.23 billion in all-time non-fungible token (NFT) sales. Sky Mavis launched the game in 2018 and the company is headquartered in Ho Chi Minh City, Vietnam. Bitcoin.com News has covered the project on various occasions and just recently Sky Mavis revealed the launch of Axie Infinity’s native decentralized exchange (dex) called Katana. While the blockchain gaming project has seen exponential growth during the first half of the year, the daily earnings of the typical player are dropping, according to statements written by the Naavik researcher Lars Doucet. Naavik is a research, consulting, and advisory firm, and the report discusses blockchain gaming, NFTs, and Axie Infinity. The Naavik researcher, alongside Jimmy Stone, Anthony Pecorella, Aaron Bush, and Abhimanyu Kumar published a study on NFT gaming platforms and discussed whether or not Axie Infinity was an “infinite opportunity or infinite peril.” Doucet revealed some of the report’s findings on Twitter and discussed the project at length in a thread. “After months of incredible growth, the daily earnings of the typical player of Axie Infinity (a ‘scholar’ in the Philippines) have fallen below the Philippines’ minimum wage line for all but the high ranking players, and even they have seen earnings decline since August,” Doucet wrote on November 12. “‘Scholars’ are players, typically in developing countries, who cannot afford to purchase [three] Axies (NFT-based virtual Pokemon-like creatures) which are necessary to play the game. They are loaned these assets by ‘sponsors’ who take a cut of their earnings,” Doucet added. The research report is extremely in-depth and discusses the many developments surrounding the enormous growth Axie Infinity and Sky Mavis have seen. Naavik Researchers: ‘Axie Infinity’s growth Spurt Somewhat Decelerating’—’Game Holds the Retention Rate of a Job’ The Naavik researchers explain that the team has also raised capital in a couple of seed rounds from investors such as Consensys, Delphi Digital, and Animoca Brands. The findings also note that “Axie Infinity’s daily active users (DAUs) have skyrocketed” and cumulative DAUs in September through October were around 1.45 to 1.95 million daily active users. The report details that the Philippines and Venezuela are the top two most popular Axie Infinity regions worldwide. Meanwhile, Naavik’s researchers say that the game’s growth spurt might be slowing down. “This month-over-month DAU growth trend shows that Axie Infinity’s growth spurt is somewhat decelerating, but a deceleration following such an impressive burst of growth is to be expected,” the study details. “Deceleration is also supported by the following Google Trends graph in the Philippines and Venezuela, as well as worldwide in general.” Naavik’s study explains that most Axie Infinity players come from low-income areas and the “foremost motivation is to earn money.” The research highlights that because of this trend, the game’s retention rate is more like “the retention rate of a job, not a game.” The study’s researchers note that this “isn’t necessarily a bad thing,” but it gives a different perspective than today’s most popular video games. “It’s possible that as long as Axie Infinity enables its scholar-dominated player base to earn more income than they would doing normal jobs in their home countries, long-term retention and DAU growth will continue to remain healthy,” the Naavik authors opine. “All in all, Axie Infinity’s growth spurt is decelerating (although still positive), and a majority of its player base treats the game like a daily job to make daily financial ends meet.” What do you think about the Axie Infinity report written by Naavik’s researchers? Let us know what you think about this subject in the comments section below. View the full article

In development since 2018, Integritee AG’s solution enables sensitive business or personal data to be securely handled in an interoperable blockchain ecosystem. Using a hybrid of blockchain technology and hardware-enabled trusted execution environments, it enables businesses to securely process sensitive data, aiding compliance with privacy laws like GDPR. Alain Brenzikofer is the CTO and Co-founder of Integritee Network. He recently joined the Bitcoin.com News Podcast to talk about the technology and the business: Project initiator and Head of Decentralized Systems at Supercomputing Systems AG. MSc from ETH Zurich. Brings vast experience designing and delivering high quality IT and blockchain client-projects. Alain has been involved and active as a thought leader in the blockchain space since 2013. To name a few of his accomplishments, he has actively contributed to Quartierstrom peer-to-peer energy markets as well as the driving force behind Encointer, a crypto-based universal basic income project. Alain has played over the years a pioneering role in developing new use cases for decentralized technology. In 2020 he led the team that won the Energy Web Innovation Challenge for a project that used trusted execution environments for off-chain computation. Learn more about the technology at Integritee.network. This is a sponsored podcast. Learn how to reach our audience here. Read disclaimer below. View the full article

Skybridge Capital’s founder says bitcoin “will easily trade at $500,000 a coin,” noting that investors should buy some right now, even at the current price. “I’m trying to do my best to explain to them why they need to own this right now,” he said, emphasizing that we are still “very, very early.” ‘These Coins Will Easily Trade at $500K a Coin’ Anthony Scaramucci, the founder and managing partner of New York City-based investment firm Skybridge Capital, commented on the U.S. economy, inflation, and bitcoin on CNBC Friday. Scaramucci briefly served as the White House director of communications during the Trump administration in July 2017. He was asked whether he advises people to buy bitcoin at the current price of around $64,000. Scaramucci promptly replied, “no question about that.” At the current BTC price level, he said, “I still believe we are very, very early.” He noted that if Ark Invest CEO Cathie Wood is correct and there are “a billion wallets at the end of 2024 into the middle of 2025,” he expects: These coins will easily trade at $500,000 a coin. Remember, you don’t even have enough bitcoin for every millionaire in our society to earn one coin. In September, Wood doubled down on her $500K bitcoin price prediction. “If we are right and companies continue to diversify their cash into something like bitcoin, institutional investors start allocating 5% of their funds into … bitcoin, or other crypto,” she said, “We believe that the price will be tenfold of where it is today … over $500,000.” “JPMorgan said there are 49 million millionaires based on U.S. dollar fiat currency,” Scaramucci added. “You don’t even have enough [for each millionaire]. So, for me, I think this is a very scarce property.” He further explained that given rising inflation fears: “I’m telling people to own a little bit of bitcoin because that’s offering you an adaptive technology that’s evolving. And the second thing that it’s offering you is a potential inflation hedge.” He continued: This is very, very early for people. And I’m trying to do my best to explain to them why they need to own this right now. What do you think about Scaramucci’s advice? Let us know in the comments section below. View the full article

The Russian Ministry of Interior has rejected a request filed by clients of Wex to do its part in the blocking of crypto funds removed from a wallet controlled by the now-defunct crypto exchange. Over 10,000 ETH have been recently withdrawn from the wallet and transferred to other platforms. Wex Victims Try to Freeze $46 Million of Cryptocurrency Lost to Bankrupt Russian Exchange The Investigation Department of the Ministry of Internal Affairs of Russia (MVD) has refused to act on a request from victims of crypto exchange Wex to take steps aimed at seizing digital assets worth $45.9 million withdrawn from one of its wallets in September. Details were shared on social media by the CEO of Indefibank Sergey Mendeleev who quoted an official document from the department. The former Wex users have provided the MVD with a detailed scheme of how the funds were transferred from the wallet to other crypto platforms, Forklog reported. They also submitted data from an analytics tool to prove the coins had been stolen and informed authorities they had reached out to Binance where a portion of the amount, 97.8 ETH, was sent. The crypto exchange froze these assets for a period of seven working days. Current procedures at Binance allow the company’s security department to temporarily freeze funds after receiving convincing evidence of a theft. Then the party that asked for the measure has to contact relevant law enforcement authorities and return a police report to the crypto trading platform. Binance would then cooperate with investigators to resolve the case. The Wex clients referred to the Russian Interior Ministry calling for the seizure of the stolen funds. However, according to an official response from the department from Oct. 25, the circumstances set out by the victims need further investigation before authorities can take any action. The MVD believes that a decision to confiscate the assets during the preliminary investigation and based on the available information would be premature. Crypto exchange Wex is the successor of the infamous BTC-e, once Russia’s largest crypto trading platform, which went offline four years ago. In September this year, reports came out that Wex’s former chief executive, Dmitry Vasiliev, has been arrested in Warsaw. They were later confirmed by Polish authorities which also announced they are reviewing an extradition request submitted by Kazakhstan where he is accused of fraud. Wex was launched in the fall of 2017 and it reportedly reached a daily turnover of $80 million before it suddenly halted withdrawals in the summer of 2018 and eventually went bankrupt. According to estimates by a group of users quoted by Forklog, the total losses exceed $400 million and Vasiliev is suspected of misappropriating $200 million. The crypto news outlet reported that 100 ETH had been withdrawn from a Wex wallet in mid-September. That’s the first movement of these funds in the past three years, the publication noted. The remaining balance in the wallet, 9,916 ETH worth $30 million at the time, were also transferred to a new address a few days later. Do you think Wex clients will convince Russian authorities to take action to freeze and seize the funds withdrawn from the exchange’s wallet? Tell us in the comments section below. View the full article

A South Africa and London-based fintech startup, JUMO, recently revealed it has raised $120 million in a funding round led by Fidelity Management & Research Company. AI-Powered Financial Services According to a report by Techcrunch, financial services giant Visa and Kingsway Capital also participated in the funding round, which now sees JUMO valued at $400 million. This latest capital influx comes a year after the startup successfully raised $55 million in what the report calls a similar but unnamed funding round. JUMO, which was founded in 2015 by founder and CEO Andrew Watkins-Ball, claims to use AI to power financial services, particularly lending in emerging markets where over 1.7 billion people do not have basic access to financial services. So far, the fintech has reportedly served loans worth over $3.5 billion to more than 18 million customers across these markets, granting up to 120 million individual loans. Although JUMO claims to have the opportunity to disburse $29 billion a year, the addition of Nigeria and Cameroon to the list of countries where it offers its services will result in the value of loans disbursed rising to $40 billion. JUMO’s Highly Attractive Lending Platform In addition to expanding to Nigeria and Cameroon, JUMO suggested that it will use part of the $120 million raised to improve and increase the number of financial products it offers to small and medium-sized businesses. It also plans to provide longer-term lending options for merchants and larger businesses. In her remarks following JUMO’s latest funding round, Visa’s global head of risk and identity services, Melissa McSherry, said: JUMO’s lending platform is highly attractive in its ability to scale across markets and drive financial inclusion by creating access to credit for consumers and small businesses. McSherry added that her company is excited about its investment in JUMO and is looking forward to accelerating the adoption of JUMO’s platform across markets and to delivering on Visa’s mission of helping individuals, businesses, and economies to thrive. What are your thoughts about this story? Tell us what you think in the comments section below. View the full article

Santander, a leading financial institution in Spain, is preparing to offer a Bitcoin ETF to its customers in the country. This, while Spanish asset managers have been largely reluctant to embrace crypto products as part of their investment portfolio offerings to customers. Santander Bitcoin ETF in Preparation Santander will be giving the finishing touches to a Bitcoin ETF product in Spain, according to reports from local sources. This reportedly positions the company to be the only financial institution interested in offering this type of product to its customers in Spain. Santander’s Executive Chairman Ana Botín declared that the institution has had a team working on this offering for some time. She stated: Our clients want to buy bitcoin, but we have been quite slow to adopt it due to regulatory issues. We are now about to offer crypto ETFs. The fact is that most asset managers in Spain are still reluctant to put their funds in cryptocurrency-based investments, at least domestically. Spain’s BBVA is already offering bitcoin trading services to its users in Switzerland, due to the advanced cryptocurrency ecosystem and clear regulations the country offers. But crypto regulation in Spain is a whole different issue. No Product Registered Yet Botín could have been referring to the work they are doing on the ETF within the bank, because no product of this kind has been registered with the CNMV, the institution that oversees the securities market in the country. Botín also failed to offer any kind of timeline regarding the availability of this product. The first cryptocurrency ETF approved in the U.S. stirred up demand from institutions that were waiting for a more traditional and regulated product to invest in cryptocurrencies. However, the vehicle approved was a bitcoin futures ETF, making its management costly and taking part of its charm away for small investors. Local investors in Spain agree that if a similar product gets approved, it should be a spot bitcoin ETF to minimize management costs. Even so, some feel the importance and reach of such an important product for investing in bitcoin should not be overlooked, as it could give Santander an advantage when it comes to portfolio offerings. Other banks have failed to see the importance of such an offering, with CaixaBank, Sabadell, and Bankinter declaring they are still waiting for more regulation in the field. What do you think about Santander’s Bitcoin ETF bid in Spain? Tell us in the comments section below. View the full article

This week Universal Music Group, the Dutch–American multinational music corporation announced the formation of a non-fungible token (NFT) metaverse music group called Kingship, which features four Bored Ape Yacht Club (BAYC) NFTs. Following the announcement, the hit record producer Timbaland revealed the creation of a metaverse-based entertainment company called Ape-In Productions (AIP), which will also leverage BAYC NFTs. Universal Music Group Reveals BAYC NFT Supergroup Called Kingship While non-fungible token (NFT) collectibles have been all the rage this year, one particular collection called Bored Ape Yacht Club (BAYC) has turned a lot of heads in terms of sales and popularity. Data shows that BAYC has an overall market valuation of $1.82 billion and the collection has seen $658 million in all-time sales volume, according to dappradar.com statistics. BAYC’s trade volume has been among 9,296 traders across 22,122 sales. The average sale price for a single BAYC NFT on November 13th is around $29.74K. BAYC’s popularity has inspired one of the largest music firms in the world, Universal Music Group (UMG) to start a metaverse supergroup called Kingship. Reports indicate that the “10:22PM” project’s founder, Celine Joshua, started the Kingship initiative with the popular NFT collector Jimmy McNeils. The 10:22PM web portal’s description says: “As Universal Music Group’s next-gen Web3 label, 10:22PM has been discovering, developing and empowering artists, digital creators and brands since 2018.” Every one of Kingship’s four members, Celine Joshua, told the press; “has their own story and personality that influences and contributes to Kingship’s overall narrative.” Hit Record Producer Timbaland Reveals Ape-In Productions Following UMG’s and 10:22PM’s announcement, Timothy Mosley, known professionally as Timbaland, announced the launch of a BAYC entertainment label called Ape-In Productions (AIP). Speaking with the news publication Variety, Timbaland revealed that the hit record producer said AIP aims to bolster creators. “We’ve built a new entertainment platform in the metaverse that puts creative control and long-term ownership back in the hands of artists, a concept that is incredibly important to us,” Timbaland told the Variety contributor Jem Aswad. According to Variety’s report, AIP will reveal a music group called “Thezoo” and a track which will be tethered to an NFT collectible called “Apesh!t.” The report further adds that AIP was developed by Timbaland and a number of BAYC community members. Jonathan Tenenbaum, Andrew Rosener, Gary Marella, Clement Kwan, and Timbaland’s Beatclub will also contribute. What do you think about the entertainment firms leveraging Bored Ape Yacht Club NFTs? Let us know what you think about this subject in the comments section below. View the full article

PRESS RELEASE. The blockchain industry is an ever-evolving world and Litentry is at the forefront of this revolution. Litentry intends to create a truly decentralized identity aggregation solution that will power web 3.0 applications. Its blockchain architecture is advanced and has witnessed massive growth due to its application in different sectors. Litentry has also created a DID Startups Programs that incentivizes innovative teams to build products that will add value to its blockchain. To continue its growth, Litentry has applied for a Polkadot Parachain slot that will transform its ecosystem. This article will open your imagination into the future of web 3.0 that can be achieved when Litentry gets a parachain. A decentralized ecosystem for innovative projects Litentry has built an innovative decentralized based identity ecosystem that has attracted several projects to its blockchain protocol. One of such projects is the Polkadot Naming System (PNS). PNS intends to introduce decentralized name systems to the Polkadot blockchain and is leveraging Litentry to achieve its goals. Users will have an on-chain unique name that connects to their wallet account, smart contract addresses and more. PNS will be onboarded on Litentry Parachain and use Litentry as its main registrar entry. Litentry Crowdloan participants that stake more than 10 DOT tokens will be eligible to register for a free PNS domain on the prelaunch platform. The recent success of the Ethereum Name System (ENS) shows the vast potentials within this sector. Other platforms that have leveraged Litentry blockchain features include decentralized social interaction protocol MyCryptoProfile, on-chain data aggregator Web3Go and decentralized sign-in protocol Polka Sign In. Transaction and activities implemented by these projects will be powered by LIT, the native token of Litentry and increase adoption. Litentry is also working on developing its first decentralized application that will be focused on Airdrops. Airdrops are an important component of the crypto industry and are used by projects to reward loyal users. Problems, however exist with the conventional Airdrop system where validation and distribution are done in a centralized way, posing questions of transparency, one-time distribution and more. Therefore, Litentry is developing an innovative system where users can easily claim rewards for completing tasks. Litentry airdrop dApp integrates an innovative TaskFi platform that leverage the power of its unique identity aggregation system to ensure decentralized verification of users and fair distribution of rewards. It would also include anti-fraud tools, loyalty programs and a custodian wallet for users to receive their rewards instantly. Litentry Crowdloan provides the first use case for the dApp, and participants will be able to take part in different tasks to receive rewards in LIT tokens. Litentry Crowdloan Litentry potentials have been stated above, and the projects deployed on its blockchain will only continue to grow once it successfully wins a Polkadot Parachain slot. Early investors can become part of a growing ecosystem and receive rewards for LIT tokens for staking their DOT in the crowdloan pool. Litentry has already allocated 20% of the token supply of LIT as rewards for crowdloan participants, which is more than other projects in the auction. In addition, participants can stake on Binance now to enjoy a Warm-Up promotion 1-week Warm-Up promotion will receive an extra pool of 500,000 LIT plus liquidity BDOT. Litentry has also partnered with DeFi platforms Bitfrost and Parallel Finance to provide lending options for crowdloan contributors. Users can contribute to Litentry crowdloan pool from both platforms and receive rewards in LIT tokens + liquidity DOT derivatives. 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

Egyptian billionaire Naguib Sawiris has said he remains bullish on gold and has no intention to invest in cryptocurrencies like bitcoin because such investment is a very risky business. Sawiris Says Gold Still Safe-Haven Asset In his remarks published by The National News, the billionaire reveals he believes it is wrong for people to make comparisons between gold and bitcoin. Sawiris, who is also the executive chairman of Cairo-based Orascom Investment Holding, insists gold is still the safe-haven asset. “I’m still very bullish [on gold] and it is a safe haven. People now are comparing Bitcoin with gold; it’s a wrong comparison,” said the billionaire. As a sign of his endorsement of gold ahead of cryptocurrency, one of the companies that Sawiris backs, AKH Gold, is reported to have signed a deal to explore nine blocks in Egypt’s gold-rich Eastern Desert. Similarly, La Mancha Holding — the company which the billionaire chairs — is reported to have launched a $1.4 billion investment fund this year to pursue investments in gold mining. Crypto’s Achilles’ Heel However, with respect to bitcoin and other cryptocurrencies, Sawiris, who has a net worth of $3.2 billion, insists the volatility of such assets makes them very risky investments. Consequently, Sawiris warned people investing in cryptocurrencies they should expect to lose. He said: When the doomsday comes and it crashes, the last people in the row will lose. Interestingly, the billionaire is also quoted warning of an asset valuation bubble that is forming in the wake of quick economic rebound and abundant liquidity after government measures slowed down the global economy. According to Sawiris, some stocks or shares are overpriced and there will be a correction sooner or later. He then advises investors to be selective of how they balance their overall portfolios and the stocks they pick in equity markets. He added that investors should “always keep a position in cash because you don’t [know] what happens [next].” Do you agree with Sawiris’ remarks about cryptocurrencies? Tell us what you think in the comments section below. View the full article

Goldman Sachs’ head of energy research says, “Just like we argue that silver is the poor man’s gold, gold is maybe becoming the poor man’s crypto.” He sees funds starting to flow from gold into bitcoin as inflation fears escalate, noting that “We’ve argued historically that crypto and gold do not have to cannibalize each other.” Goldman Sachs on Gold and Bitcoin Damian Courvalin, Head of Energy Research at Goldman Sachs, talked about the outlook for gold and crypto in an interview with Bloomberg Thursday. He was asked whether he sees any evidence of investors using other assets, including bitcoin and cryptocurrencies, to hedge against inflation other than gold. “I think it’s actually starting,” he replied, adding: “We’ve argued historically that crypto and gold do not have to cannibalize each other.” Admitting that “it’s a fact, we have seen substitution recently,” he detailed: Just like we argue that silver is the poor man’s gold, gold is maybe becoming the poor man’s crypto. Courvalin continued: “At this point, there may be enough wealth to allocate to both, especially, I think, as that inflation signal is starting to be more pressing.” The executive noted: “The value of crypto is its network, just like the value of oil is the fact that it’s consumed. Gold, like diamonds and art, doesn’t have that. It’s just a pure defensive asset that can outperform over a significant period of time.” The Goldman head of Energy Research, further noted that when China banned cryptocurrencies, investors moved into gold. Many people have turned from gold to bitcoin amid inflation fears. In October, billionaire hedge fund manager Paul Tudor Jones said, “Clearly, there’s a place for crypto. Clearly, it’s winning the race against gold at the moment … It would be my preferred one over gold at the moment.” He emphasized that “crypto is here to stay.” In the same month, JPMorgan said, “Institutional investors appear to be returning to bitcoin perhaps seeing it as a better inflation hedge than gold.” The firm also doubled down on its long-term bitcoin price prediction of $146K for bitcoin as an alternative to gold. Meanwhile, some people like both gold and bitcoin. Rich Dad Poor Dad author Robert Kiyosaki, for example, has been recommending both bitcoin and gold. In his latest prediction, he warned of a giant market crash followed by a new depression. He recommended, “Be smart: Buy, gold, silver, bitcoin.” What do you think about the comments by Goldman Sachs’ executive? Let us know in the comments section below. View the full article