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Avalanche Foundation, the organization behind the Avalanche chain, has announced the launch of Blizzard, a fund that will entice development and innovation on the Avalanche ecosystem. The Fund, which has $200 million available for its task, is composed of contributions coming from Avalanche Foundation, Ava Labs, Polychain Capital, Three Arrows Capital, among other participants. Blizzard Fund Comes to Avalanche Devs The Avalanche Foundation has announced the launch of a new fund that will help developers to keep launching innovative products on top of the Avalanche blockchain. The fund, called Blizzard, will put $200 million for grabs of devs who want to deploy innovative apps in the ecosystem. Blizzard is made of contributions of Avalanche’s key partners, including Avalanche Foundation, Ava Labs, Polychain Capital, Three Arrows Capital, Dragonfly Capital, CMS Holdings, Republic Capital, R/crypto Fund, Collab+Currency, Lvna Capital, and Finality Capital Partners. According to the launch announcement, the fund will focus on four main areas of growth, including decentralized finance, enterprise applications, NFT’s and culture applications, and other emergent use cases. This final item might include liquidity providers, token issuances, and other applications. The management of the fund will be in the hands of a panel of experts in blockchain programming and capital management, who will oversee the allocation of funds. On Blizzard, Emin Gün Sirer, Director of the Avalanche Foundation, stated: Blizzard will play a key role in further accelerating this growth, and solidifying Avalanche’s position as the premiere home for projects and people pioneering the next era in our space. Incentives Keep Happening This is the second program of this kind that is launched on top of the chain in less than three months. In August, another program dedicated mostly to defi projects, called Avalanche Rush, was launched. Rush put $180 million in the hands of protocols to deliver users who provide liquidity in some pools. Among the protocols that are already on the program are Sushiswap, Trader Joe, Benqi, Curve, Aave, and others. This has created a boom in the decentralized finance protocols of the chain. According to data taken from defillama, the total value locked in all the decentralized finance protocols on top of the chain is now over $8 billion, up from $312 million when the incentives program was announced. this shows that this kind of program works amazingly well to prop up activity. What do you think about Blizzard, the $200 million development fund for Avalanche? Let us know what you think about this subject in the comments section below. View the full article

During the second week of October, the total value locked (TVL) in decentralized finance (defi) protocols crossed $200 billion, and two weeks later in November, the TVL in defi surpassed $250 billion gaining 25% in value. Meanwhile, Ethereum commands more than 67% of the $253 billion TVL in defi today, gaining 4.65% during the last seven days while Solana’s TVL increased by 5.99% this past week. Defi TVL Increases by 25% in 2 Weeks The total value locked (TVL) in defi has reached an all-time high, tapping $253.94 billion on November 3, 2021. On October 12, Bitcoin.com News reported on the defi TVL surpassing $200 billion and in two weeks the value has expanded by 25%. Value expansion is not only due to more value being added to defi protocols, but crypto assets like ethereum (ETH), solana (SOL), and avalanche (AVAX) have seen significant gains. Today, the TVL on the Ethereum blockchain is 67% or $171.24 billion, according to defillama.com stats. The second-largest defi blockchain in terms of TVL is the Binance Smart Chain (BSC) with $19.5 billion, which is 7.707% of the entire defi TVL today. Solana’s TVL, which increased by 5.99% this past week, is $14.12 billion on Wednesday, which is 5.58% of the aggregate in defi. Tron saw a large increase of 28.9% as the blockchain’s defi TVL is $6.11 billion. The Arbitrum One chain has jumped to all-time highs with $2.69 billion TVL, up 16.19% during the course of the trailing week. Defi Report Shows Binance Smart Chain, Ethereum, Polygon Daily Transactions Rise The “Defi Weekly Report” series published by Coin98 Analytics indicates that the BSC decentralized exchange (dex) Pancakeswap has reached “600,000+ daily active users.” Moreover, the 43rd Coin98 Analytics’ defi report notes that BSC active addresses tapped 1.9 million wallets per day. The researchers detail that alongside the increase of active addresses, BSC also saw a spike in daily transactions. “The daily transactions [from the] Binance Smart Chain increased in line with the number of daily active addresses, reaching 10.8 million transactions this week,” the 43rd Coin98 Analytics’ defi report details. “Ethereum and Polygon are also showing signs of growth in daily transaction volume this week as Ethereum hit 1.5 million transactions/day (+18.26%) and Polygon reached 4.6 million transactions/day (+39.94%),” the researcher’s study adds. Curve, Uniswap, Quickswap, Trader Joe Defi Activity Expands On Wednesday, the defi protocol Curve recorded a seven-day increase of 9.28%, with Curve’s TVL at $19.94 billion. Curve has a dominance of 7.87% according to today’s metrics and the dex supports seven different blockchains. The largest dex in terms of swap volumes is Uniswap during the last 30 days with $16.53 billion in global trade volume. Polygon’s (MATIC) popular dex protocol, Quickswap, has seen $3.61 billion in global trade volume during the last months. The Avalanche-based dex Trader Joe is the third-largest in terms of 30-day volume with $1.96 billion, according to dappradar.com’s decentralized exchange rankings. What do you think about the overall increased activity and value in the land of decentralized finance right now? Let us know what you think about this subject in the comments section below. View the full article

PRESS RELEASE. Palo Alto, CA – LTNM, the next generation, insured asset-backed cryptocurrency, is proud to announce an exclusive partnership with OSO ATMs, one of the biggest ATM providers, to help install 100,000 LTNM ATMs across all fifty states in the United States. Developed by Monsoon Blockchain Corporation on behalf of the LTNM Foundation, LTNM is a greener, faster, and more secure version of Bitcoin, capable of managing massive crypto transactions while being highly efficient in terms of cost and scalability. As part of its plan towards crypto-adoption, LTNM has partnered up with various trading platforms to list its native LTNM token for trading. Partnering with a full-service ATM company, OSO ATMs, sets a new journey for LTNM to further span its vision of making crypto easily accessible for everyone. Besides, it’ll help the cryptocurrency to further span its customer reach. As part of the partnership, OSO ATM will help LTNM install 100,000 ATMs across all 50 US states, where users can easily buy LTNM tokens by using their fiat currencies. Commenting on the partnership, Donald Basile, the founder of LTNM, said in an interview, “OSO is aiming to install 25,000 ATMs by the end of January 2022. This partnership will allow the users of different states of the U.S to buy or cash out LTNM and Bitcoin, which will further help in the mass adoption of LTNM.” OSO ATM is an ARIZONA-based ATM company providing different ATM services including ATM processing, customized ATM branding, ATM Equipment sales, etc., to customers in all 50 states of the United States. Additionally, the ATM provider offers Bitcoin Kiosk machines. However, with this exclusive partnership of 5 years, OSO ATMs will help install 60,000 LTNM ATMs throughout these 5 years. The company has aimed to install a minimum of 8,000 ATMs by the end of 2022 across different states in the US. Arikat, Chief Operating Officer at OSO ATM-Nationwide ATM Company, shared his views on the partnership and said, “The operation of crypto ATMs is picking up pace in other parts of the world as well. In El Salvador for instance, Bitcoin ATMs allow people to transact in the crypto token or convert it to fiat. LTNM aims to bring the ease of using cryptocurrencies in the United States, and we are extremely proud to be a part of their journey to take cryptocurrencies to the mainstream audience. “ 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 OSO ATMs OSO ATM is a nationwide ATM company providing ATM service to customers in all 50 states. OSO is dedicated to serving our customers, distributors, ATM affiliates with the most competitive pricing and service to help maximize profits. The company has over a 99.5% retention rate and offer 24-hour tech support and online tools to help manage businesses more efficiently For more information, please visit https://osoatm.com/ Media contact Company: LTNM Contact: Kai Okada, Director of Communications E-mail: kai.okada@bitcoinlatinum.com Website: https://bitcoinlatinum.com/ Address: 2100 Geng Road, Palo Alto, California 94303, USA Telephone: +1 800-528-0985 SOURCE: LTNM 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 leading crypto industry association in Iran has slammed authorities for their passive stance regarding crypto regulation. The government’s inaction is a source of concern, the organization said, offering its assistance to regulators whom it considers not sufficiently qualified to deal with the complex issue. Blockchain Association Proposes Public-Private Partnership on Crypto Rules in Iran Tehran authorities such as the Central Bank of Iran (CBI) are not capable of regulating cryptocurrencies, according to the head of the Iran Blockchain Association (IBA). Тhe country’s main organization representing members of the crypto sector called for the establishment of an “independent counsel” to take on the job. During a press conference this week, the head of the IBA, Abbas Ashtiani, elaborated: We need a special council of representatives from state bodies and private enterprise to craft regulations for cryptocurrencies. The CBI or the Security and Exchange Organization are not qualified [enough] to set rules for cryptos given the multidimensionality of the issue. Iran’s crypto space remains largely unregulated. In April, the central bank authorized domestic banks and money exchangers to use locally mined cryptocurrencies to pay for imports to the sanctioned nation, but authorities went after other digital coin trading and crypto payments are banned inside the country. Cryptocurrency mining is the most regulated sector since Tehran recognized it as a legal industrial activity in 2019. Mining companies are required to obtain a license from the Ministry of Industries in order to operate in the Islamic Republic and around 50 entities have already done so, official data showed earlier this year. The ministry has reportedly stopped accepting new applications following a ban imposed by the Prosecutor General’s office. Iran Government Has No Plan to Regulate Crypto Space, IBA Says “The growing interest in mining and crypto trade has prompted authorities to craft a roadmap for the crypto business. But it seems that that does not go far enough,” the English-language business daily Financial Tribune noted in its report on the IBA’s proposal. The publication quotes experts who claim the issue is more complex than other regulatory challenges and that is why institutions have been reluctant to take responsibility for regulation. Ashtiani criticized the executive power in Tehran, warning that its inaction regarding cryptocurrencies has become a source of concern. He further remarked that the former government had plans to regulate the space but they were never realized and slammed the administration of recently elected President Ebrahim Raisi for having no plan at all. The entire crypto matter is so down below the do-list that “we have still not been able to hold a meeting with the policy and decision-makers,” he revealed. Commenting on the concerns expressed by officials regarding illegal activities related to the minting and exchange of cryptocurrencies, Ashtiani emphasized that the Iran Blockchain Association understands policymakers and assured that “their reservations can and will be addressed.” The head of the IBA also insisted: We are ready to help set rules that can help ensure a positive impact of cryptos on the economy while minimizing criminality. According to industry watchers, lack of sufficient knowledge and awareness is what lies behind the government’s worries about the growing popularity of crypto assets which have been attracting capital from Iran’s traditional markets. However, some officials have already opposed restrictive policies warning that they can push innovative solutions underground. “This is what has happened in Iran’s cryptocurrency market. Our studies show that 50% of crypto activities are in the informal market. This is while supportive regulations could enhance the contribution of digital currency to the economy,” Gholamreza Marhaba, spokesman of the parliamentary Economic Commission, has been quoted as saying. Do you think Iranian authorities will eventually adopt crypto-friendly regulations? Share your expectations in the comments section below. View the full article

Mobius Capital Partners founder Mark Mobius says that cryptocurrency is not an investment, calling it “a means to speculate and have fun.” He prefers stocks and believes “the U.S. market is going to continue to prosper and continue to do well.” Mark Mobius Does Not See Crypto as an Investment Mark Mobius, the founder of Mobius Capital Partners, talked about cryptocurrency in an interview with CNBC Wednesday. Prior to starting his own company, Mobius was executive chairman of Templeton Emerging Markets Group. He joined Templeton in 1987 where he managed more than $50 billion in emerging markets portfolios. He founded Mobius Capital Partners in March 2018. “It’s not an investment. It’s a religion,” he said about crypto, elaborating: People should not look at these cryptocurrencies as a means to invest. It’s a means to speculate and have fun. But then you got to go back to stocks at the end of the day. Unlike Mobius, many famous investors and fund managers see bitcoin as a good investment. Renowned investors Paul Tudor Jones and Stan Druckenmiller, for example, have said that bitcoin is a great hedge against inflation. Jones even admitted recently that he prefers crypto to gold. Others who have recommended bitcoin as an investment include Rich Dad Poor Dad author Robert Kiyosaki who predicted last week that the U.S. will suffer a great crash, followed by a new depression. Moreover, Morgan Stanley’s CEO said last month that bitcoin is not a fad and crypto is not going away. Mobius further warned about rising inflation Wednesday, noting that stocks are the best bet in the current environment. He opined: Stocks definitely are the answer because the devaluation of currency is not going to go away, which means inflation is going to continue at a high rate going forward. Don’t forget the U.S. money supply has gone up over 30%. While emphasizing, “We believe the U.S. market is going to continue to prosper and continue to do well,” the founder of Mobius Capital Partners pointed out that the main problem for the U.S. market is the potential for higher interest rates. “Of course the big worry is interest rates, if the [global central] banks decide to raise interest rates after they’ve done their bond buying, then that could be a big worry not only in the U.S. but emerging markets generally,” he concluded. What do you think about Mark Mobius’ comments? Let us know in the comments section below. View the full article

The Commonwealth Bank of Australia (CBA), the country’s biggest bank, is providing customers with the ability to buy, sell, and hold crypto assets directly through its app. The bank has partnered with crypto exchange Gemini and blockchain analytics firm Chainalysis to provide crypto services. Commonwealth Bank Begins Offering Crypto Services Commonwealth Bank (CBA), also known as Commbank, announced Wednesday that “it will become Australia’s first bank to offer customers the ability to buy, sell and hold crypto assets,” which will be directly through its Commbank app. Australia’s biggest lender explained that it has partnered with New York-based crypto exchange Gemini and blockchain analytics firm Chainalysis to provide crypto services. “Both partnerships have allowed the bank to design a crypto exchange and custody service that will be offered to customers through a new feature in the app,” Commbank detailed. The bank’s mobile banking app is used by about 6.4 million customers. Noting that “The pilot will start in the coming weeks and CBA intends to progressively roll out more features to more customers in 2022,” Commonwealth Bank elaborated: CBA will provide customers with access to up to ten selected crypto assets including bitcoin, ethereum, bitcoin cash, and litecoin. Commonwealth Bank noted that according to its research, “a large number of its customers want to access crypto assets as an investment class and are already buying, selling, and holding crypto assets through a variety of crypto exchanges.” Commbank CEO Matt Comyn opined: “We believe we can play an important role in crypto to address what’s clearly a growing customer need and provide capability, security and confidence in a crypto trading platform … CBA will leverage Gemini’s crypto exchange and custody service and integrate it into the Commbank app through APIs.” The partnership with Chainalysis will help the bank’s compliance teams to “monitor and mitigate the threat of crime through crypto asset exchanges,” Australia’s largest bank explained. What do you think about Australia’s Commonwealth Bank offering crypto services in partnership with Gemini and Chainalysis? Let us know in the comments section below. View the full article

Black Rock Rhino, a leading rhino conservancy in South Africa, is set to raise funds for the endangered species via the auction of rhino horn non-fungible tokens (NFTs). Auction Proceeds to Pay for Sanctuary’s Expenses In what has been billed a first, the rhino conservancy — which is home to over 200 rhinos — together with a blockchain technology firm Virtual Nation Builders, is set to auction the non-fungible tokens at one of South Africa’s biggest NFT marketplaces, Momint. According to a statement released by Black Rock Rhino, the proceeds from the November 11 auction will be used to pay for some of the sanctuary’s day-to-day expenses. “The net proceeds will go towards securing the area, feeding, vaccines as well as the other day to day operating expenditure of the conservancies,” explained the statement. In addition to funding the conservancy’s daily expenses, proceeds from the sale are expected to aid conservationists in their ongoing efforts to reduce the number of rhino deaths. As the statement by Black Rock Rhino reveals, the rhino population in government-run national parks has dropped from 18,000 to 2,000 in the last decade. Although this sharp decline in the population of rhinos is primarily attributed to the activities of poachers, some experts also believe that rhinoceroses killing each other is another leading cause of the deaths. Therefore, in order to reduce such fatalities, rhino experts advocate for the removal of the sharp end of the horns to reduce fatalities when conflict arises. Rhino Horn Trade Ban However, since the trade of the rhino horn — which is valued at around $25,000 — is banned, conservationists at Black Rock Rhino believe the digital and photo-realistic horn NFTs will yield more from the auction. In other words, this means rhino lovers around the world will be able to acquire a rhino horn without actually violating the ban on rhino trade that was imposed by the Convention on International Trade of Endangered Species (CITES) in 1977. What are your thoughts about this story? Tell us what you think in the comments section below. View the full article

The cryptocurrency market is at an all-time high and the NFT world is booming. ERTHA is one of the hottest P2E (play to earn) gaming Metaverse projects and has already achieved incredible product-market fit, while still being in the private NFT sale round. Erthaverse is a 3D virtual representation of a futuristic planet Earth, divided into 350,000 unique land plot NFTs, differing in resources and features. Landowners are joining a persistent, life-like simulation to build their homes, customize their environment, participate in politics, and earn real income by creating and driving the in-game economy. More than 2000 Hexs have already been sold to individual owners in the first few days of the private sale. Saudi Arabia in the Ertha world, representing an oil-rich country in the real Earth, was sold out in a few hours, demonstrating the tremendous hype around owning NFT land in Ertha. The future income and opportunities are the main criteria when purchasing. Investors are acquiring massive plots of land — whole regions and even countries. The demand thus far has vastly exceeded expectations, as smart investors and gamers take advantage of the rare opportunity to acquire more valuable HEX NFT land plots at the lower prices of this first private sale round. Ertha’s unique P2E and P2L (Play-to-Learn) combination, stimulates the adrenaline receptors of future gamers and gets them thinking about upcoming strategies. The first in-game unions and clans are already signed and eagerly anticipate taking part in this lucrative and rewarding metaverse, triggering the latecomers’ rush to snatch the most attractive HEX Land NFTs. Ertha will encompass multiple detail-oriented features, making player decisions dynamically impactful in the metaverse. Join the private NFT sale This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

On Tuesday, the digital asset exchange Crypto.com announced the launch of the first official Ultimate Fighting Championship (UFC) non-fungible token (NFT) collectibles. The new NFT series will feature UFC digital collectibles that showcase fight night artwork, event posters, championship belts, and athlete profiles. UFC to Drop Official NFTs for Usman vs. Covington 2 Fight During the first week of July, Bitcoin.com News reported on Crypto.com partnering with UFC in a ten-year deal worth $175 million. At the time, sources disclosed that the deal was the UFC’s largest sponsorship deal to date. On November 2, the two announced the launch of official UFC NFTs that will feature UFC artwork, event posters, athlete profiles, championship belts, avatars, artist collaborations, and mystery boxes. The collection of NFTs called “UFC 268 Packs” will drop on November 4, and fight posters and belt designs will be based on the upcoming event “UFC 268: Usman vs. Covington 2,” slated to take place at Madison Square Garden (MSG) on Saturday. The announcement says that UFC fans can acquire the NFTs “while supplies last.” Tracey Bleczinski, the UFC’s senior vice president of Global Consumer Products, believes NFTs are a great way for fans to connect with the UFC brand. “NFTs are an exciting expansion of UFC’s strong collectible marketplace and an innovative and authentic way for our passionate fans to stay connected to the UFC brand,” Bleczinski said in a statement sent to Bitcoin.com News. Crypto Exchange Taps Into UFC’s Large Audience Crypto.com is attracted to UFC’s global fan base of more than 625 million. The company recently partnered with the actor Matt Damon. Additionally, Crypto.com has forged partnerships with the NHL’s Montreal Canadiens, Formula One (F1), the NBA’s Philadelphia 76ers, the Italian Football league, Paris Saint-Germain, and legendary rapper Snoop Dogg. “UFC is the fastest growing sport in the world, and NFTs are simultaneously surging in popularity as fans look for new and unique ways to connect with the sport, the fighters and the broader UFC community,” Steven Kalifowitz, Crypto.com’s CMO added. What do you think about the upcoming UFC NFT series? Let us know what you think about this subject in the comments section below. View the full article

Coinbase is acquiring an AI-powered support platform Agara in an effort to deliver “world-class support for customers.” The exchange explained that “Through this acquisition, we’ll be able to provide our customers with new personalized, intelligent, and real-time support options.” The acquisition also reconfirms Coinbase’s strategy to build out its tech hub in India. Coinbase to Improve Customer Support With AI Platform Cryptocurrency exchange Coinbase announced Tuesday: Today, Coinbase is announcing that we are acquiring Agara, an AI-powered support platform with operations in India and the US. “We plan to leverage Agara’s powerful Deep Learning and Conversational AI technology to automate and enhance our customer experience (CX) tools,” explained Manish Gupta, Coinbase’s EVP of Engineering. He added that improving CX “remains a top priority for Coinbase.” In the past few months, the company increased its support staff headcount by five times. It also announced that 24/7 phone support and live messaging will be rolled out by year-end. “The acquisition reinforces our commitment to delivering world-class support for customers, and brings Agara’s deep expertise in machine learning (ML) and natural language processing (NLP) to Coinbase’s engineering team,” Gupta continued, adding: Through this acquisition, we’ll be able to provide our customers with new personalized, intelligent, and real-time support options. Earlier this year, Coinbase announced its strategy to build out a tech hub in India. The company said that its presence in the country is rapidly growing. Together with the Agara team, “we will continue to advance Coinbase’s mission of increasing economic freedom around the world,” Gupta opined. While the acquisition “is subject to customary closing conditions and is expected to close later this year,” the Coinbase executive said: It also reconfirms our strategy to continue to build out our tech hub in India. What do you think about Coinbase acquiring the AI-powered platform Agara to enhance its customer support? Let us know in the comments section below. View the full article

The mayor of the U.S. city of Miami says that he is going to take 100% of his next paycheck in bitcoin and become the first American politician to accept a salary in cryptocurrency. The mayor is currently trying to build his city into a bitcoin capital of the world. US Politician Wants to Be Paid in Bitcoin The pro-bitcoin mayor of the U.S. city of Miami, Francis Suarez, tweeted Tuesday that he is going to take 100% of his next paycheck in bitcoin. His statement was in response to a challenge by Morgan Creek Digital partner Anthony Pompliano asking on Twitter: “Who is going to be the first American politician to accept their salary in bitcoin?” In his tweet, Mayor Suarez asked Mike Sarasti, CIO and director of Innovation & Tech of the city of Miami, to help make it happen. Sarasti indicated that he will help by tweeting “Mayor. Amazing” in reply, along with two “100” symbols and a bitcoin symbol. The Miami mayor’s statement came as a growing number of professional athletes and sports teams are asking to be paid in bitcoin, including Russell Okung, Tom Brady, Aaron Rodgers, Saquon Barkley, and Sean Culkin. Among U.S. politicians, the Miami mayor has been one of the most vocal proponents of bitcoin. He has been lobbying lawmakers in his city to allow government employees to be paid in BTC in addition to allowing taxes to be paid in the cryptocurrency and for the city to invest a portion of funds in bitcoin. He said in October that cryptocurrency is a “major priority” for him as he attempts to build his city into the crypto capital of the world. When China cracked down on cryptocurrency and bitcoin mining, he also tried to attract bitcoin miners to his city. A few other mayors have also been vocal in supporting bitcoin, including the mayor of Jackson, TN, and the mayor of Cool Valley, Missouri. Another pro-bitcoin politician, U.S. Senator Cynthia Lummis, who has repeatedly said that bitcoin is a great store of value, tweeted in response to Suarez’s statement: Bested by the gentleman from Miami. Well done, sir. Do you think politicians should be paid in bitcoin? Let us know in the comments section below. View the full article

Singapore, already a major financial center in the world, is now aiming to become a cryptocurrency hub as well. The city-state is seeking to secure its role as a leading player in the crypto space, the head of its central banking institution has indicated in recent comments. Singapore to Establish Itself as Center for Crypto Business Authorities in Singapore are taking steps to cement its position as a key player in crypto business, the official who has been at the helm of the Monetary Authority of Singapore (MAS) for a decade has revealed in an interview. It comes as Singapore and other financial hubs around the world are exploring ways to regulate the rapidly growing sector. Quoted by Bloomberg, managing director of MAS Ravi Menon stated: We think the best approach is not to clamp down or ban these things. The MAS is Singapore’s central banking institution responsible for setting the rules for banks and financial firms. The authority is now trying to also introduce “strong regulation” for companies dealing with cryptocurrency, to allow those that meet its requirements and properly address the full range of associated risks to operate in the jurisdiction. “With crypto-based activities, it is basically an investment in a prospective future, the shape of which is not clear at this point,” Menon noted. The executive warned that Singapore risks being left behind if it doesn’t get involved in the space. He further elaborated: Getting early into that game means we can have a head start, and better understand its potential benefits as well as its risks. Ravi Menon insisted that Singapore must raise its safeguards to counter risks including those related to illicit flows. At the same time, the city-state is “interested in developing crypto technology, understanding blockchain, smart contracts.” It’s also preparing for a Web 3.0 world, the central banker emphasized. In the race to attract crypto businesses, Singapore is competing with destinations such as Malta, Switzerland, and El Salvador, among others. The task is a difficult one as in many cases the crypto industry has developed with few regulations while players oppose government attempts to introduce limitations. A major crypto platform already operating in Singapore is Binance, the world’s leading digital asset exchange. Earlier this year, MAS announced that 170 companies had applied for payment service licenses, bringing the total of applicants under its Payment Services Act from January 2020 to 400. In August, the authority revealed it had notified several providers that it was going to license them. However, just three crypto companies have since received the permits, including the brokerage arm of DBS, Singapore’s largest bank. Around 30 other entities have withdrawn their applications. The managing director of the MAS pointed out that the regulator is taking time to assess applicants to ensure that they meet its high requirements. The authority has prepared itself in terms of resources to work with an increasing number of licensees but also stressed: We don’t need 160 of them to set up shop here. Half of them can do so, but with very high standards, that I think is a better outcome. Menon is convinced that the benefits of having a well-regulated domestic crypto industry could also extend beyond the financial sector. “If and when a crypto economy takes off in a way, we want to be one of the leading players,” he insisted, adding that the crypto space can help create jobs and added value even more than the traditional financial industry. Do you think Singapore will achieve its goal of establishing itself as a leading global crypto hub? Let us know in the comments section below. View the full article

The first limited edition of Spellfire NFT cards has already reached the shelves of OpenSea. Spellfire NFTs have a unique mix of capabilities and cannot be compared to anything else on the market. A new conception has combined time-tested gaming and modern twists to have a unique collecting experience of virtual and physical assets generating a lifetime revenue, plus a great time playing a beloved fantasy game. Is the team good at what they do? Spellfire has gained top investors within a few hours. The physical game is ~70% done. 20+ people focused on the game, creating the new Spellfire world for almost 4 years. More than 100 newly created cards are already selling at OpenSea. The digital game is rapidly growing on Unity. Augmented reality cards in the app show their moves. New characters, realms, and event cards join the game every day. Discord and Telegram communities are buzzing. Headlines at BitcoinNews, Dappradar, Zycrypto, AMBcrypto, and many more. The story of Spellfire lays slowly in the pages of a novel. Multilingual plans for local communities taking form. Yes, they are good. Why buy NFTs for players? NFT cards are investment + play = Play-To-Earn. You will have the same card as physical and digital assets. After the game cards are ready, you will claim your bought NFTs and will get the physical cards to the home/tournament play. The same card is played online and offline, no need to pay any extra to enjoy both. The money you have paid for NFT will generate revenue. You will get 90% from the sales of your card copies, which will be issued as simple playing cards. Why did the team go with NFTs in Spellfire? Spellfire needs to boom the market. Showing the great game in a totally different light, including new approaches, is making a hit in all media headlines: first-ever, a pioneer, a concept never seen before! Join rare Spellfire NFTs sale. Grab them. Drive the game back to the hearts of card collectors, back to tables, and newly build the play on PC’s and mobiles. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

At the non-fungible token (NFT)-focused conference, NFT.NYC, developers from the Metalcore Foundation and Studio 369 revealed an NFT-powered mechanized combat video game. The game’s creators have worked on projects for Activision, Disney, Lucas Films, Midway, and the Mechwarrior, Mortal Kombat, and Gears of War franchises. Metalcore Foundation, Studio 369 Reveal Blockchain-Powered Mech Battle Game A game development team behind an organization called the Metalcore Foundation and video game developer Studio 369, announced a new multiplayer mechanized combat blockchain-powered video game title called Metalcore. The game is being built with Unreal Engine 4 and is a first-person combat game located in an open world. “Players can engage in 100-person PvP mega-battles, smaller-scale cooperative PvE fights, and faction-based, open-world clashes,” the Metalcore team’s announcement detailed. The game is being developed by a team with experience stemming from well known firms like Lucas Films, Midway, Activision, and Disney. Hugo Award-winning concept artist Stephan Martiniere is also working with the team. Martiniere’s art can be seen on projects like Gods of War, Magic the Gathering, Fallout, and Elder Scrolls. The upcoming NFT-powered mechanized combat video game will be different from traditional free-to-play gaming worlds. “Metalcore combines the engagement of traditional gaming with the growing blockchain economy,” the team’s announcement details. “Unlike traditional free-to-play games where players buy digital items with no inherent value, Metalcore builds a solid core economy and puts ownership into the player’s hands. Metalcore will have a private Alpha for selected players on PC in spring 2022, with its first NFTs available for presale in January 2022.” Blockchain-powered games See Significant Demand in Q3 — Axie Infinity Nears $3 Billion in Sales and Close to 1 Million Unique NFT Traders The team says that everything in the Metalcore world will have value like vehicles, land, pilots, and blueprints. Furthermore, Metalcore will incorporate Play-2-Earn (P2E) and Win-2-Earn (W2E) strategies. The Metalcore team’s announcement adds: Metalcore players will collect rare weapons, cosmetic meshes, and skins that can be taken into battle and traded as NFTs in an open marketplace. By beating missions and earning rewards, players will become landowners to mine resources and generate tax revenue. They’ll build towering fighting vehicles, recruit pilots, and lead guilds into brutal territory wars. Blockchain-powered games mixed with non-fungible tokens (NFTs) have been very popular in recent times and in 2021, the game Axie Infinity has seen significant success. To date, the Sky Mavis-crafted blockchain video game Axie Infinity has seen $2.86 billion in all-time NFT sales among close to a million (963,380) traders worldwide. NFT rewards have even been used in games like the 2021 MC Chess Tour when Magnus Carlsen won the world’s first chess NFT trophy. Just like decentralized finance (defi), game finance (gamefi) aims to meld the experiences of online gaming and financial rewards or incentives. The Metalcore team also published a debut trailer on Youtube which gives a preview of what to expect from the game. Statistics from a report published by Dappradar.com, 2021’s third quarter indicated that blockchain gaming has started to see a large influx of demand in recent times. What do you think about the former Activision, Disney, Lucas Films, and Midway game devs launching a mech battle game fueled by blockchain tech? Let us know what you think about this subject in the comments section below. View the full article

On November 2, 2021, the Ethereum network’s global hashrate tapped an all-time high (ATH) at 873 terahash per second (TH/s) or close to 1 petahash. Alongside Ethereum’s ATH, a myriad of hashrates have returned back to the highs the network’s once held before the crypto mining crackdown in China. Hashrates Return Following China’s Crypto Mining Crackdown This Past Summer Last summer at the end of June, a great number of cryptocurrency networks saw their hashrates decline significantly, but today many networks have recovered from the large losses. For instance, the Bitcoin (BTC) network hashrate plummeted to a low of 69.11 exahash per second (EH/s) on June 28, and today BTC’s hashrate is coasting along at 169 EH/s. That’s an increase of 144.92% and a variety of other crypto protocol hashrates have also seen significant recoveries in terms of global hashrate. During the same time period the Bitcoin network’s hashrate shuddered last summer, Litecoin’s (LTC) hashrate dipped to a low of 167.44 terahash per second (TH/s) and is now at 332 TH/s. The Dash (DASH) network saw hashrate losses during the first week of July hitting a low of 2.22 petahash per second (PH/s) and rose back up to today’s 2.83 PH/s. Dash did jump above 5 PH/s at the end of August but lost some petahash, but the Ethereum (ETH) network, on the other hand, reached an all-time high. Ethereum Network Hashrate Surpasses All-Time High Ethereum’s hashrate tapped a high of 873 TH/s which is 0.873 PH/s or close to a single petahash. The ETH hashrate will likely pass the single petahash metric before the network does a full transition from proof-of-work (PoW) to proof-of-stake (PoS). Last year on this day, the Ethereum network was processing transactions at a speed of 279 TH/s and since then the hashpower has increased by 212.90%. Mining ethereum (ETH) at the time of writing is profitable with an Innosilicon A10 Pro+ ethereum miner or an equivalent with 750 megahash per second (MH/s). An ether miner of this caliber can produce $61.70 per day in profits with an electricity consumption rate of $0.12 per kilowatt-hour (kWh) and today’s ETH exchange rates. It has been reported that before Ethereum transitions to full PoS, Bitmain and Innosilicon are planning to launch machines with an output of 1.5 to 3 gigahash per second (GH/s). At these theoretical hashpower rates, using $0.12 kWh and today’s ether prices, machines at that caliber could produce $124 to $254 per day in profit. What do you think about the myriad of crypto networks that have seen hashrate increases during the last six months? What do you think about the Ethereum network’s hashrate tapping an all-time high? Let us know what you think about this subject in the comments section below. View the full article

On Tuesday, the world’s largest financial derivatives exchange, Chicago Mercantile Exchange (CME) Group, announced the upcoming launch of ethereum-based micro futures slated to be listed on December 6. The launch follows CME Group’s bitcoin micro futures listing in May, which saw 100,000 micro bitcoin futures traded during the first six days after launch. CME to Launch Micro Ether Futures Pending Regulatory Approval CME Group announced on Tuesday that the company plans to launch micro ether futures on December 6, “pending regulatory review.” According to the CME announcement, each share will account for one-tenth of one ether. “Micro ether futures will provide an efficient, cost-effective way for a range of market participants – from institutions to sophisticated, active, individual traders – to hedge their spot ether price risk or more nimbly execute ether trading strategies, all while retaining the features and benefits of CME Group’s larger-sized ether futures,” the announcement explains. For quite some time now, the derivatives exchange has offered bitcoin (BTC) and ethereum (ETH) futures that account for larger quantities of each crypto asset. In terms of open interest (OI), CME Group’s ether futures account for 8.83% of all the derivatives exchange OI. Micro-Sized Contracts Make Investment Products ‘Accessible to a Broader Range of Participants’ Six months ago, CME Group launched micro bitcoin futures and the exchange witnessed 100,000 micro bitcoin futures traded during the first six days after launch. By the end of June, CME Group’s micro BTC futures had reached 1 million contracts swapped. “Since the launch of ether futures in February, we have seen steady growth in liquidity in these contracts, especially among institutional traders,” Tim McCourt, CME Group’s global head of Equity Index and Alternative Investment Products said. “At the same time, the price of ether has more than doubled since these contracts were introduced, creating demand for a micro-sized contract to make this market even more accessible to a broader range of participants,” McCourt added. The CME Group executive continued: Micro ether futures will offer even more choice and precision in how they trade ether futures in a transparent, regulated, and efficient manner at CME Group. As of November, CME Group’s micro bitcoin futures have traded 2.7 million contracts since May. In terms of ether futures, 675,500 ethereum futures contracts have been settled on CME, which is equivalent to about 33.8 million ethereum (ETH). CME Group details that it offers more than 20 micro products and since their inception, over 1 billion contracts have been settled to date. Meanwhile, after CME Group announced the micro futures product, ethereum (ETH) reached a new all-time high (ATH) at $4,500 per unit on Tuesday. Ethereum has a market valuation of around $529 billion at the time of writing. What do you think about CME Group introducing micro ether futures? Let us know what you think about this subject in the comments section below. View the full article

Ubisoft, one of the biggest gaming companies in the entertainment world, mentioned blockchain as one of the key points of focus for the future of the brand. The company said it is exploring blockchain as an innovative technology to be included in games in its latest earnings report. While blockchain’s play-to-earn trend has experienced a boom this year, the traditional gaming industry still has yet to embrace blockchain as part of a flagship product. Ubisoft to Explore Blockchain for Future Products Ubisoft, the gaming giant known for mega-successful franchises like Assassin’s Creed and Far Cry, mentioned blockchain technology as a key element for the future of the company. In its latest earnings report, which corresponds to the first half of the 2021-2022 fiscal year, Ubisoft stated it has been exploring blockchain technology since its beginnings, to see how it can be used to further enhance the experience of gamers in virtual worlds. The report states: Ubisoft has been exploring blockchain since the early development of the technology, supporting and learning from the ecosystem through initiatives like its Entrepreneurs Lab start-up program and the Blockchain Game Alliance as a founding member. If Ubisoft wants to leverage blockchain for an introductory game, it seems it will be in the form of NFT integration, according to what they expressed in another part of the report. The company stressed: This long-range exploration ties in with Ubisoft’s constant search for innovation and new ways to empower players as true stakeholders of its worlds. The Current State of Blockchain Gaming Ubisoft might be enticed to include blockchain and NFTs in their products by the sudden rise in popularity of play-to-earn games like Axie Infinity, which has registered sales for more than $1 billion. However, no mainstream gaming company has yet integrated these tools into one of its franchises. Ubisoft has been one of the companies that has shown more interest, going as far as sponsoring initiatives that integrate these technologies experimentally. Ubisoft also led the latest funding round of Animoca Brands, a gaming company that raised $65 million, reaching a $2.2 billion valuation. Animoca is better known as the manager of The Sandbox, a game that has experienced significant success since it integrated blockchain elements and NFTs into its platform. What do you think about Ubisoft considering integrating blockchain tech for its games in the future? Tell us in the comments section below. View the full article

Paraguay is one of the destinations being considered by various companies for setting up their bitcoin mining operations. Last week, Chinese company Future Fintech announced formal plans to build a bitcoin mining facility in the country, explaining they were determining the best location for the upcoming farm. In June, local media declared that there were eight Chinese economic groups interested in coming to the country. Paraguay Considered for Its Bitcoin Mining Potential Paraguay, an often overlooked country of South America, has recently been in the sights of mining institutions interested in establishing operations in the country. Paraguay presents several advantages for these groups, like an abundant supply of unused hydro-electrical power that could be put to work. Bitcoin mining activity has been stigmatized as a “dirty” industry, but having this much clean energy, companies could mine without worrying about the effect on the environment. Future Fintech, a Chinese company that was invited to Paraguay, already has plans to establish a bitcoin mining facility in the country. According to a PR statement issued last week, CEO of the company Shanchun Huang will be reviewing the facts to determine the route the company will take to make this a reality. Huang stated: We plan to carefully assess this development opportunity in Paraguay. We will work with our local consultant to review Paraguay’s hydroelectric power and clean energy resources, locations for developing a mining farm and the preferential policy treatment that we might receive for our capital investment. The company also made a special mention of the support that the Paraguayan government is giving to the cryptocurrency mining business. Many More Could Be Coming Many more companies could be secretly planning to move their operations to Paraguay, more so after the bitcoin mining exodus that China produced with its latest cryptocurrency crackdown. In July, CEO of the bitcoin mining company Digital Assets, Juanjo Benítez Rickmann, stated there were at least eight Chinese economic groups interested in Paraguay, but he didn’t expand on the identities of these groups. Furthermore, Rickmann stated he had knowledge that one of these groups was already in the country and that it had plans to install 90K miners in the coming months. The 5,500 MW of unused power Paraguay is said to produce could signal the start of a bitcoin mining era in the nation. What do you think about Paraguay as a potential mining Mecca? Tell us in the comments section below. View the full article

Digital Currency Group (DCG), a Manhattan-based, crypto-focused VC conglomerate, has reached a $10 billion dollar valuation in a secondary sale where existing investors sold part of their shares to new ones. The funding round was led by Softbank and also included participation from Capitalg, Google’s investment firm. $700 million worth of shares changed hands via the sale. Digital Currency Group Sells $700 Million in Secondary Sale Round Digital Currency Group (DCG), a crypto-focused company, announced a secondary sale where existing investors sold part of their shares to newcomers to the company. The deal, which involved $700 million worth of shares changing hands, was led by Softbank with the participation of Capitalg, Google’s private equity investment firm. This further cements the importance that DCG has in the current crypto-focused world. With this new investment round, the valuation of the company reached $10 billion. While the name DCG might seem obscure and not recognizable for some, it serves as a parent company for important brands in the ecosystem. Among these are Grayscale, the biggest cryptocurrency asset manager in the world, and Genesis, a cryptocurrency service provider for institutions. About the sale, Barry Silbert, founder and CEO of DCG, stated: We’re the best proxy for investing in this industry. We were looking for the type of backers that could be, and hopefully will be with, with us on this journey for the next couple of decades. DCG Will Remain Private While recently some big companies in the crypto industry like Coinbase have gone public, DCG doesn’t seem interested in following that route, at least for the foreseeable future. Silbert stated: The typical reason companies do go public or rush go public is to address liquidity, or to raise money for acquisitions but we don’t have those pressures. I enjoy building this as a private company. However, Silbert did not rule out an IPO, but right now it is unlikely with DCG not having any liquidity problems. In fact, the company is on track to achieve a revenue of more than $1 billion just in this year. Capitalg founder David Lawee explained this was an investment to capitalize on the flexibility that the cryptocurrency world, and DCG, exhibit. Lawee thinks DCG has the flexibility to adapt to new crypto trends and to keep being relevant in the market for a long time. What do you think about the secondary round that gave DCG a valuation of $10 billion? Tell us in the comments section below. View the full article

A Kenyan communications strategist, Mwotia Ciugu, has told African investors to be wary of investing in bitcoin which he claims is worth zero. Bitcoin Structurally Incapable of Delivering on Its Promise In an op-ed published by The Elephant, Ciugu insists bitcoin (BTC) is structurally incapable of delivering on its promise of becoming an alternative store of value or a hedge against inflation. In addition, the strategist also claims bitcoin fails both as a currency and an investment. Although he concedes that Africa has one of the highest cryptocurrency adoption rates, Ciugu cautions, however, that the top cryptocurrency’s volatility and scalability issues mean it cannot act as a currency. Ciugu is quoted explaining: Bitcoin fails as a currency because of two things: volatility and scalability concerns. In its 12 years of existence, bitcoin has maintained extremely high levels of volatility i.e. 60 per cent to 100 per cent annualized. To further support this point, Ciugu makes reference to the U.S. dollar which he claims “has an annualized volatility of 17 [percent].” Concerning the crypto asset’s scalability problems, Ciugu predictably regurgitates the common arguments about bitcoin’s inefficient use of electricity and how this disqualifies it as a currency for day-to-day transactions. Bitcoin Useful for Cross Border Remittances Meanwhile, the strategist denies that bitcoin is now being used extensively in El Salvador, the first country in the world to declare bitcoin legal tender. According to Ciugu, the U.S. dollar is still the dominant currency in El Salvador. Despite putting forward these arguments, Ciugu surprisingly agrees that sending remittances via bitcoin is more cost-effective than using regular sending channels. He explained: The use of bitcoin in that country is primarily for remittances by citizens working abroad to their families back home. These citizens rely on bitcoin for cross-border money transfers to avoid the high costs that come with such transactions, and also because most citizens of El Salvador, i.e. 70 [percent], don’t have bank accounts. On why he thinks the cryptocurrency is worth zero, Ciugu uses billionaire investor Warren Buffet’s past comments about bitcoin to argue his point. In his previous remarks, Buffet had intimated the crypto asset had hallmarks of a pyramid scheme because it produces nothing. Just like Buffet, the strategist also believes bitcoin investors have no expectations of making any future earnings except through engaging in zero-sum games with other speculators. The strategist also makes reference to how bitcoin crashed when Elon Musk voiced his concerns about the crypto asset’s energy use. Such a reaction according to Ciugu means bitcoin is more susceptible to sentiments than actual fundamentals. The strategist ends this long article by conceding that bitcoin will probably hit the US$100,000 mark in the near future as some analysts are predicting. However, Ciugu argues that even if bitcoin were to reach such a milestone, this will have “no bearing on the intractable truths” he has articulated. Do you agree with Ciugu’s views? Tell us what you think in the comments section below. View the full article

Global investment bank Goldman Sachs is reportedly predicting that the price of ether could rise to $8,000 by year-end. The bank’s analysts explained that cryptocurrencies have traded in line with inflation breakevens since 2019. Ether Could Reach $8K by Year-End, According to Goldman Sachs Goldman Sachs has reportedly explained in a research note circulated by the bank’s managing director of Global Markets, Bernhard Rzymelka, that the price of ether (ETH) could hit $8,000 by year-end. The note details that cryptocurrencies have traded in line with inflation breakevens since 2019, according to Zerohedge. Referencing a chart showing the Bloomberg Galaxy Crypto Index (red) on a log axis and the USD 2-year forward 2-year inflation swap (blue), Goldman’s analysts noted that “the local backdrop looks supportive for ethereum.” The analysts added: “It has tracked inflation markets particularly closely, likely reflecting the pro-cyclical nature as ‘network based’ asset. And the lastest spike in inflation breakevens suggests upside risk if the leading relationship of recent episodes was to hold (grey circles).” They further pointed out: This lines up well with the ethereum chart. The Goldman note further describes: “The market has started to press against the all-time high with a narrowing wedge: Either a sign of exhaustion and peaking … or a starting point of an accelerating rally upon a break higher.” The analyst also noted that “the RSI has yet to hit the overbought levels seen in past market highs.” If the historical correlation with inflation forwards persists, the price of ethereum could surge as high as $8,000 in the next two months, the publication conveyed. Goldman’s ETH price forecast is higher than a recent prediction by Finder.com’s panel of 50 fintech specialists. The price comparison portal updated the panel’s ethereum price prediction last week, showing its experts expecting ETH to hit $5,114 by year-end, $15,364 by 2025, and $50,788 by 2030. The price of ETH is $4,324.98 and its market cap is $511.16 billion at the time of writing, based on data from Bitcoin.com Markets. Ether hit an all-time high on Oct. 28. It has climbed 5.5% in the past seven days and 30.7% in the last 30 days. The global investment bank formally established a crypto trading team in May and launched bitcoin derivatives trading in the same month. In June, the bank’s head of digital assets, Mathew McDermott, revealed that Goldman Sachs plans to offer futures and options trading in ETH in the coming months. In July, the bank’s analysts said ether looked “like the cryptocurrency with the highest real use potential as Ethereum, the platform on which it is the native digital currency, is the most popular development platform for smart contract applications.” What do you think about Goldman Sachs’ prediction? Let us know in the comments section below. View the full article

Cryptocurrency exchange Kraken has indicated that the shiba inu (SHIB) cryptocurrency will be listed on its platform on Tuesday. The dogecoin rival has gained much popularity recently, rising 97% in the past seven days and 825.5% in the last 30 days. Kraken Indicates Shiba Inu Will Be Listed on Its Platform Tuesday Cryptocurrency exchange Kraken tweeted Monday about listing the shiba inu cryptocurrency (SHIB) on its platform. According to the San Francisco-based exchange, the company’s product lead, Brian Hoffman, said if the tweet gets 2K likes, Kraken will list shiba inu Tuesday. At the time of writing, the tweet has been liked 45.1K times and retweeted 11.6K times. Founded in 2011, Kraken says it is the world’s largest global digital asset exchange based on euro volume and liquidity. Globally, its client base trades more than 60 digital assets and seven different fiat currencies, including EUR, USD, CAD, GBP, JPY, CHF, and AUD, its website details. Kraken was the first U.S. crypto firm to receive a state-chartered banking license. The crypto exchange serves more than 7 million traders around the world. While Kraken has not confirmed that SHIB will definitely be listed Tuesday, a Twitter user claims that a customer representative of the exchange said late Monday that SHIB will be listed “sometime tomorrow,” adding, “We do not have an exact time when it is being listed, but there should be an update tomorrow.” SHIB supporters see the listing on Kraken as ultra bullish, expecting the price of shiba inu to soar. One person tweeted: “Bullish news for SHIB, expecting a bump in price once it becomes available for trade here. Kraken is probably going to make a pretty penny from exchange fees too.” Another expect the price of SHIB to rise significantly, noting that the listing by Kraken will give the meme coin a “much-needed boost.” Meanwhile, the shiba inu supporters have been trying to get the trading platform Robinhood to list SHIB. A petition on Change.org to convince Robinhood to list the meme coin has garnered 461,439 signatures. Shiba inu’s adoption is also rising, with AMC Theatres considering accepting SHIB alongside dogecoin and other cryptocurrencies for payments. The shiba inu coin has recently gained much popularity. It has flipped rival dogecoin and become the ninth-largest cryptocurrency. Its market cap is around $39 billion at the time of writing. The crypto has gone up 8% in the last 24 hours, 97% in the past seven days, and 825.5% in the last 30 days. What do you think about Kraken listing SHIB? Let us know in the comments section below. View the full article

This past summer the American multinational technology company, Amazon, published two job listings for a blockchain lead and a digital currency expert. Now Amazon Web Services (AWS) is looking for a principal digital assets specialist that can “help drive adoption across the global digital asset community.” AWS Is Looking for a Principal Digital Assets Specialist One of the ‘Big Five’ tech companies, Amazon, has shown signs of interest in cryptocurrency solutions and blockchain technology for quite some time now. For instance, on May 26, 2020, the company patented a “distributed ledger certification” protocol. In February 2021, the e-commerce giant posted a job listing for a software development manager to lead a blockchain pilot project located in Mexico, alongside Amazon’s “Digital and Emerging Payments” division. This past June, the company’s employment portal said Amazon was seeking a blockchain expert in order to create “business use cases across decentralized finance (defi).” The following month, it was revealed Amazon published an employment advertisement for the e-commerce firm’s Payments Acceptance & Experience team. At the time, Amazon’s listing sought “an experienced product leader to develop Amazon’s digital currency and blockchain strategy and product roadmap.” Now Amazon Web Services (AWS) is hiring a “principal digital assets specialist” in New York to lead the firm’s fintech team. The job posting was published on October 30, and at the time of writing, there have been 26 applicants so far. AWS is hoping for someone with seven or more years of fintech business development and an individual with “exposure to distributed ledger or blockchain technologies.” “​​You will work directly with some of our most strategic customers [including] leading global financial institutions and innovative fintechs,” the AWS digital assets specialist job listing states. “Helping them drive change at the most senior levels (CIOs, CDOs, Line of Business leaders) as they transform the way they transact digital assets (ex. cryptocurrencies, CBDCs, [stablecoins], security-backed tokens, asset-backed tokens and NFTs) from price discovery to execution, settlement and custody,” the listing description adds. While Amazon has been on the hunt for digital currency experts and blockchain tech leads, a slew of other well known firms have been searching for the same type of talent. This month the social news aggregation and discussion website, Reddit published an ad seeking a senior engineer for a platform that features “NFT-backed digital goods.” After Reddit’s job listing, the video game retail giant Gamestop published a similar employment listing seeking a senior engineer for blockchain NFT platform. What do you think about AWS seeking a principal digital assets specialist? Do you think Amazon is preparing to support crypto solutions or integrate blockchain technology any time soon? Let us know what you think about this subject in the comments section below. View the full article

Following a number of ASIC mining rig acquisitions from the manufacturer Canaan, the bitcoin mining operation Genesis Digital Assets announced on Monday that the firm is developing an industrial-scale bitcoin mining data center in West Texas. According to the announcement, Genesis says that the new facility will have 300 megawatts of capacity with a “low carbon footprint.” Genesis Announces New Bitcoin Mining Facility With 300 Megawatts of Capacity The mining firm Genesis Digital Assets has announced the launch of a new bitcoin mining facility that will be located in West Texas. The Genesis data center will get energy from the Electric Reliability Council of Texas (ERCOT). The entity ERCOT is a large power supplier in Texas and statistics say the firm supplies 90 percent of the state’s electric load. Genesis stresses that the new data center with 300 megawatts will showcase “sustainable infrastructure, high efficiency, and a low carbon footprint.” The Texas facility announcement follows a slew of mining rig acquisitions Genesis took part in with the Chinese ASIC manufacturer Canaan. In August, Bitcoin.com News reported on Genesis buying 20,000 ASIC miners from Canaan and the firm was given the option to acquire 180,000 ASIC mining rigs at a later date. Genesis details that the new operation in West Texas will “create job opportunities” and provide “work for local contractors.” Abdumalik Mirakhmedov, the executive chairman and co-founder of Genesis Digital Assets, confirms that the new facility will help bolster local employment opportunities. “As we continue our rapid expansion plans in the United States, we remain committed to our sustainability and social commitments, by identifying ways to power our industrial-scale bitcoin mining farms with renewable energy and create job opportunities for the local communities in which we operate,” Mirakhmedov said in a statement. Genesis Hopes to Manage 1.4 GW of New Data Centers by 2023 Genesis recently signed a significant procurement deal and also raised more than $550 million in financing this year. The recent Genesis funding was led by Paradigm, and Alameda Research, Ribbit, Electric Capital, NYDIG, Stoneridge, Skybridge, and Kingsway Capital participated. The mining operation hopes to run “1.4 GW of new data centers by 2023” and as of today, Genesis maintains over 170 megawatts or 3.8 Exahashes (EH/s) of dedicated hashpower toward the Bitcoin (BTC) network. “We’re full speed ahead on our mission to provide the infrastructure that will power the future of money,” said Andrey Kim, the COO and co-founder of Genesis Digital Assets. “This new data center marks another key milestone as we work towards executing on our big picture vision.” Meanwhile, a number of bitcoin mining operations have been migrating to the state of Texas like Bitmain, Argo Blockchain, and EZ Blockchain. Just recently a number of oil producers met with bitcoin mining industry heavyweights to see how the two industries could collaborate. Texas has been steadily transitioning into a major bitcoin mining hub during the last year. What do you think about Genesis Digital Assets announcing a new bitcoin data center in West Texas? Let us know what you think about this subject in the comments section below. View the full article

Inflation continues to remain hot in the United States as supply constraints and higher oil prices continue, seeing barrels of crude surge above $80 per unit. Meanwhile, data released on Friday indicates that consumer expenditures have risen to 4.4%, the highest run-up of inflation the country has seen in 30 years. Inflation Continues to Rise in US Americans are dealing with higher inflation levels these days as new data indicates that personal consumption expenditures have spiked in September to 4.4%. Reuters reports that the inflation run-up is “continuing a run of inflation at levels not seen in 30 years.” Americans losing purchasing power has been attributed to supply chain shortages, sky-high oil prices, and the ongoing Covid-19 procedures mandated by the Biden administration. Reuters reporter Howard Schneider explains that the rising inflation levels in the U.S. could undermine Federal Reserve chairman Jerome Powell’s claims that inflation will be “transitory.” However, Cornerstone Macro economist Nancy Lazar believes Powell’s transitory claims will be correct. “We think deflation is the word” for the coming year, Lazar remarked. The economist added: The inflation debate is going to shift to wages very, very quickly. University of Michigan Analyst Says There Could Be a ‘Tipping Point’ Where ‘Consumers’ Incomes Can No Longer Keep Pace With Escalating Inflation’ Meanwhile, Ian Shepherdson of Pantheon Macroeconomics says wage growth may not rise as fast as inflation. During the fourth quarter, it “ought to be clear” Shepherdson stressed in a recent interview and added, “we think it is entirely reasonable to expect wage growth to slow as labor supply rebounds.” Additionally, on Friday the University of Michigan explained its consumer sentiment survey slid from 72.8 points to 71.7. Year-ahead inflation expectations are at the highest levels in the U.S. since 2008, according to the survey’s chief economist Richard Curtin. “This was the first major spike in inflation uncertainty recorded outside of a recession,” Curtin told Yahoo Finance. For now, Curtin says consumers are tolerating the inflation but in time Americans may become less patient. “These reactions promote an accelerating inflation rate until a tipping point is reached when consumers’ incomes can no longer keep pace with escalating inflation,” Curtin concluded during his interview. What do you think about the rising inflation in the U.S.? Do you think inflation will be transitory or not? Let us know what you think about this subject in the comments section below. View the full article