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Circle announced today the launch of its trademark stablecoin USDC on top of the Hedera network. This action is part of the multichain commitment that Circle announced earlier this year, with the objective of further expanding the reach of the currency in the cryptocurrency market. With the addition of USDC as the first stablecoin in its ecosystem, Hedera aims to start developing its own decentralized finance (defi) environment, and it is now offering more than $2.5 billion in ecosystem grants. Circle to Support Hedera-Based USDC Circle, one of the leading crypto payment companies, has announced the launch of usd coin (USDC) on top of Hedera, a high-throughput blockchain network. With this move, Circle customers with a Circle Account will have the opportunity of leveraging the stablecoin on top of Hedera network to make payments and settlements like with any other supported network. The launch of the stablecoin on top of Hedera is part of an expansion strategy established by Circle earlier this year when it declared USDC would launch on ten more blockchains, with Hedera being one of the protocols in the list. Circle wants to establish its stablecoin as the defacto choice for decentralized finance (defi) protocols, and making it natively available in many of these chains is the first step to do that. About the launch of Usdc in Hedera, Circle CEO Jeremy Allaire stated: Support for Hedera USDC means more people can take advantage of dollar digital currencies. With Hedera, enterprises and financial institutions can access deep liquidity across countries and platforms. Hedera Welcomes USDC Hedera is hoping to get a boost for its in-development defi strategy with the arrival of USDC on its platform. Hedera claims it has a great opportunity of becoming one of the most used chains in the USDC environment due to its high transaction output and low fees. On this, Shayne Higdon, CEO and Executive Director of the HBAR Foundation stressed: With the USDC launch on the Hedera network, The HBAR Foundation is taking an important step toward fulfilling its mission to ease the development and launch of Defi applications on the network. Hedera is now offering a $2.5 billion ecosystem grants program destined to build applications using Hedera’s blockchain. Some of these funds will surely be directed to defi applications, that will have now much more utility with a known, established stablecoin present in the platform. USDC’s popularity has been growing during the last four months when it added more than $10 billion to its market cap, threatening the dominance of tether (USDT), the leading stablecoin. What do you think about the launch of Usdc on top of Hedera? Tell us in the comments section below. View the full article

PRESS RELEASE. Fast-rising Blockchain gaming platform PlayDapp has revealed the addition of a Play-to-Earn feature on its flagship game ‘’Along with the Gods: Knights of the Dawn’’. This development is expected to build on the existing features offered by PlayDapp. Play-to-Earn gaming is a rising phenomenon that has gathered steam in recent months. This is due to the positive benefits, as gamers have more freedom to build the gaming economy and receive rewards for transacting in-game assets. PlayDapp’s flagship game, Along with the Gods’’ Knights of the Dawn already has massive traction with thousands of gamers competing for rewards in NFTs. Players can earn on the flagship game by collecting Hero and Rune NFTs and selling them to other players for PLA tokens and other cryptocurrencies. Adding the Play-to-Earn feature will expand the potential for earning, and gamers can now stake PlayDapp Town NFTs for daily and weekly rewards in PLA tokens. To be eligible for daily rewards (5 PLA), players will need to stake three SR grade PlayDAPP TOWN NFTs, while weekly rewards require staking one SSR grade PlayDAPP TOWN NFT and competing in PvP to earn up to 5,000 PLA. The P2E staking feature on PlayDapp is lossless as gamers receive rewards in PLA tokens while still having control of their staked NFTs. In addition, to ensure the proper transition for gamers, PlayDapp has announced the launch of a P2E pre-staking period starting from October 20th, 2021. This will help players get ready to start earning when the game update releases on October 27, 2021. Interested players can load their NFTs into PlayDapp’s Item Manager in-game to ensure they can earn from the moment the P2E launches. A Fast-growing ecosystem PlayDapp is regarded as one of the fastest-growing blockchain gaming platforms and has achieved several milestones since its launch. In recent months, it has established strategic partnerships with top tech and blockchain platforms, including Samsung, Polygon, Chainlink, Portis, Klatyn, and LINE. PLA token has also witnessed major adoption and is available as a trading token in blockchain games like League of Kingdoms and COMETH. The token can also be traded on global crypto exchanges such as Upbit, Crypto.com, Coinbase, and more. PlayDapp’s core team consists of persons with vast experience in the gaming and tech industry. Some team members have worked in top platforms like Netmarble, Naver, Microsoft, ItemBay, and NCSOFT, bringing a wealth of knowledge to the gaming platform. PlayDapp team has revealed that it intends to launch a couple of features and products in the future. Some of these include, Along with the Gods Play2Earn specialized server launch, an SDK plugin launch on Naver Gamepot operation service, migrating to the popular Binance Smart Chain ecosystem, and a PvP tournament system. About PlayDapp PlayDapp is a blockchain gaming platform that operates on the Ethereum and Polygon networks. Gamers can play games to earn NFTs and rewards in PLA tokens. PlayDapp also integrates a C2C marketplace that is the home to all NFTs in the gaming metaverse. PlayDapp has already launched its flagship game Along with the Gods: Knights of the Dawn, which can be downloaded from the Google Playstore To learn more about PlayDapp, visit the links below. Website NFT Marketplace Telegram Medium Twitter 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. Listen to the latest Bitcoin.com Podcast: View the full article

Blockchain data platform Chainalysis has announced that it is adding bitcoin to its corporate investment portfolio. This is the company’s first acquisition of cryptocurrency, the CEO revealed. Chainalysis is valued at $4.2 billion. Chainalysis’ First Acquisition of Cryptocurrency Blockchain data analytics firm Chainalysis announced Tuesday the addition of bitcoin to its balance sheet. Chainalysis will acquire bitcoin using the brokerage services of the New York Digital Investment Group (NYDIG), the bitcoin investment arm of Stone Ridge Asset Management. NYDIG will also provide custody of the coins purchased. Chainalysis has been NYDIG’s compliance technology partner since 2018. “Digital assets have emerged as an alternative asset class for consumers, enterprises, governments, banks, and financial institutions,” Chainalysis noted, adding that it “is laser-focused on its commitment to building trust in cryptocurrency as a digital asset.” Michael Gronager, co-founder and CEO at Chainalysis, commented: We are thrilled to be adding bitcoin to our corporate investment portfolio … This is Chainalysis’ first acquisition of cryptocurrency, and we will continue to pursue other digital assets as potential future investments. Chainalysis raised $300 million in the past year, with the most recent fundraising round valuing the company at $4.2 billion, the blockchain data firm added. A growing number of companies have added bitcoin to their balance sheets. According to a curated list of bitcoin treasuries, the public corporation that has acquired the most BTC is Microstrategy, which is currently holding 114,042 bitcoins. Elon Musk’s electric car company, Tesla, came second with about 42,000 BTC. What do you think about Chainalysis adding bitcoin to its balance sheet? Let us know in the comments section below. View the full article

On Tuesday, Concierge.io, the exclusive travel service backed by Travala.com announced it added new luxury services in order to give crypto investors “a more premium experience to live out their travel dreams.” The concierge service for “the crypto world’s elite” details its added experiences like a seven-star igloo in Antarctica, all-inclusive African safaris, and a stay at a Japanese castle. Exclusive Travel Service Adds New Services The firm Concierge.io is the concierge service focused on cryptocurrencies and it leverages professional travel managers in order to provide customers with unique and luxurious experiences. The company is also backed by Travala.com, a crypto-friendly travel service that accepts a myriad of digital assets for payment. On October 19, Concierge.io announced the company has added new exclusive experiences to its luxury travel services so crypto investors can enjoy their riches in style. The firm has detailed it has already provided first-class stays for crypto whales like “week-long trips to private islands in the Maldives as well as private jets.” “Today, the travel service adds even more premium experiences, such as a stay at a Japanese castle, a seven-star igloo in Antarctica, and all-inclusive African safaris,” Concierge.io’s announcement details. “New luxury travel products also include exclusive access to some of the largest yachts in the world, complete with in-ship crews and chefs.” 500% Increase in Clients in 6 Months, 100% of Bookings Made in Crypto Ben Rogers, chief marketing officer at Travala.com detailed in a statement sent to Bitcoin.com News that for more than a year, demand has risen a great deal. “We’ve seen the demand to pay for travel in crypto steadily rise over the past year-plus, as the number of crypto users has rapidly grown alongside a slow-but-steady reopening of global travel. Now, we’re seeing high-net-worth crypto investors want to really treat themselves with something other than Lamborghinis,” Rogers said. Since the company launched six months ago in April 2021, Concierge.io says that its seen a 500% increase in clients. Furthermore, the firm notes that 100% of bookings were made with digital assets. “Concierge.io helps [clients] live out their travel dreams with their hard-earned crypto, providing yet another real-world use case for digital currencies that have made millionaires. In just six short months, we’ve already helped many fulfill their most extreme vacation fantasies and the additional experiences announced today further expand the possibilities and ways in which people explore the world.” What do you think about Concierge.io catering to crypto whales? Let us know what you think about this subject in the comments section below. View the full article

PRESS RELEASE. Chimeras successfully raised over $2 million in its latest fundraising round, which will help to fund the play-to-earn project’s market and product development. October 18th, 2021 – The Chimeras Play-to-Earn metaverse project has completed its funding round with the participation of leading blockchain venture companies, including Master Ventures, AU 21, Poolz, BullPerks, X21, OIG Invest, Panda Capital, Shima Capital, LVT Capital, Otis Capital and Lotus Capital. The round successfully raised over $2 million which the Chimeras team has earmarked for the metaverse’s product development and marketing campaigns, including the launch of its brand native token, CHIM. The team is also announcing the upcoming Chimeras initial DEX offering (IDO) on the Ignition, Poolz, and BullPerks platforms. The Poolz platform IDO will take place on October 26th, followed by the Ignition and BullPerks IDOs two days later on October 28th. Additionally, Chimeras are in the process of negotiating with one more IDO platform – the details of which will soon be shared on social media. After all IDOs have taken place, CHIM will be available to trade freely in the cryptocurrency market. A Strong In-Game Economy CHIM will have a maximum supply of 75,000,000 CHIM, with the initial supply allocated between its team, leading blockchain-focussed funds, advisers, users who are part of the Chimeras metaverse and farming pools. Users will be able to use these pools to provide in-game loans, as well as generate interest and other rewards. The token will also form the backbone of the in-game economy, allowing users to exchange in-game assets such as land and NFT-based items. Users can also spend CHIM on content creation and the maintenance of in-game assets. About Chimeras The Chimeras project is a Play-to-Earn metaverse that takes the Free-to-Play approach of allowing players to earn on the content they generate in-game and the actions and feats they accomplish. The core concept of Chimeras is a thrilling mobile game with integrated DeFi farming and NFT tokenization that revolves around a fantasy world filled with cuddly creatures – Chimeras. Chimeras includes a well-developed backstory that engulfs players with its lore. The vast fantasy world of Chimeras is populated with farmers, alchemists, merchants, killers, landowners, and socials. The islands and archipelagos of the metaverse stretch out in the middle of a boundless world ocean, with some islands having owners, while travelers and merchants surf the expanses of the universe in search of adventures and profitable deals. The game also includes combat elements, as warriors are eager to fight worthy rivals in arenas, while scientists compete for the breeding of the most amazing creatures in their laboratories. The players are rewarded with NFT-based items or CHIM tokens that can be used to breed the creatures, trading, building the virtual land plots in the game, as well as in battles. The gamers can buy and sell everything, including trade reagents, resources, and creatures at auctions, while more peace-loving players can live on the rent they generate from the ownership of numerous islands. The team behind Chimeras has immense experience in the industry. This includes professionals in BlockchainDev, GameDev, and Marketing, all focussed on creating a tier-1 entertainment crypto-game. More than 30 specialists implement cutting-edge practices to develop successful gaming solutions and focus on entertainment as the core throughout the entire gameplay. For more about Chimeras and the launch of its native token CHIM, visit their main website here. Follow Chimeras on Twitter Join the Chimeras community on Telegram Stay up-to-date through Chimeras’ Announcement Channel Read the Chimeras blog on Medium Media Contact Details Contact Name: Yuliya Prekrasnova Contact Telegram: @ChimerasPR CHIMERAS is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest. 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. Listen to the latest Bitcoin.com Podcast: View the full article

The central bank of Iran is gearing up to begin the pilot phase of its digital currency project in the near future, its new head announced to representatives of local media. The monetary authority is also preparing to move forward with a plan to reform the legislation that governs its own activities. Iran Preps Pilot for Sovereign Digital Currency The “national cryptocurrency” of Iran will enter its pilot stage soon, the recently appointed Governor of the Central Bank of Iran (CBI) Ali Salehabadi has unveiled. Speaking to reporters after his first meeting with lawmakers, the high-ranking official said the regulator is now studying potential risks and benefits associated with the initiative. Quoted by IRIB News and the Financial Tribune, he explained: The pilot trial will start, once the Money and Credit Council approves it. Salehabadi, who has been heading the CBI since Oct. 6, did not provide any further details regarding the Iranian central bank digital currency (CBDC). According to the English-language business daily, the new phase of the project is likely to be in line with earlier plans for the development of a national crypto. The report notes that three years ago the Informatics Services Corporation, CBI’s subsidiary operating the country’s banking automation and payment services network, was tasked to develop a sovereign digital currency. A CBDC prototype was designed using the Hyperledger Fabric platform, later statements by its representatives revealed. It became clear that the digital version of the Islamic Republic’s national fiat, the rial, was being developed on a private blockchain. Unlike cryptocurrencies based on public blockchains such as Bitcoin, the Iranian state-issued coin is not going to be mined. The public was never updated on the progress of this initial project until more recent announcements came out that a “crypto rial” plan is underway. Officials have emphasized that the Iranian crypto is going to be a digital currency circulated by the CBI and not a decentralized cryptocurrency that could be used for small, cashless transactions, the publication details. New Commission to Prepare Amendments to Iran’s Central Bank Law Besides the digital currency announcement, Iranian media has also learned that the central bank’s new management and members of the Majlis agreed to establish a joint commission tasked to reform the legislation concerning the CBI. Its members will be expected to quickly finalize a long-awaited plan to update the law that governs the central bank’s activities. Governor Salehabadi also said that a special working group will be formed to clarify the positions of the bank and the government regarding cryptocurrencies. While, executive authorities in Tehran have been going after crypto investing and trading, only allowing banks and licensed moneychangers to use coins minted in Iran to pay for imports, lawmakers have opposed the restrictive policies. They believe that friendlier regulations would help Iran to circumvent U.S.-led sanctions and boost its economy. Mining has been the one crypto-related sector that has received more clarity in terms of regulation. Iran recognized the extraction of digital currencies as a legal industrial activity in 2019 and introduced a licensing regime for entities involved in the business. And although mining farms have been blamed for electricity shortages during the extremely hot summer this year, restrictions have since been lifted for authorized crypto miners which number over 50, according to the state-run power utility Tavanir. Do you think Iran will eventually issue its own digital currency? Share your expectations in the comments section below. View the full article

Prior to the launch of the Proshares Bitcoin Strategy ETF (BITO), open interest in bitcoin futures products has been surging since the start of the month, according to data from the Coinbase Institutional arm Skew Analytics. Binance and FTX command the lion’s share of bitcoin futures’ open interest with 40.67% of the market. Moreover, data from bybt.com’s bitcoin futures’ open interest metrics, shows the Chicago Mercantile Exchange (CME) commands 15.54% of all the open interest in bitcoin futures tallied this week. Bitcoin Futures Open Interest Has Risen Significantly On Tuesday, October 19, 2021, the first exchange-traded fund based on bitcoin futures was launched in the United States. So far, Proshares Bitcoin Strategy ETF (BITO) is trading above the ETF’s initial value when the opening bell kick-started trading. Since the first bitcoin ETF is based on BTC derivatives markets, prior to the launch a large influx of bitcoin futures open interest was recorded by a number of analytical web portals. On October 12, Coinbase Institutional’s Skew Analytics tweeted about the massive open interest stemming from bitcoin futures markets. “Bitcoin futures open interest have been surging since the start of the month,” the official Coinbase Institutional Skew Twitter account said. Additionally, the account noted that BTC options markets were quite different. “Bitcoin options market seems cautiously positioned ahead of ETF catalysts with skew rallying back to positive territory,” Skew remarked the following day. Binance, FTX Command 40.67% of Bitcoin Open Interest – CME Group Captures Close to 16% Data from bybt.com indicates that Binance rules the roost as far as bitcoin futures open interest dominance is concerned. Statistics indicate that Binance commands 23.5% of all the bitcoin open interest among all the BTC derivatives markets trading today. Binance has around $5.54 billion recorded, while FTX Exchange captures around $4.05 billion or 17.17%. Open interest (OI) metrics from CME Group have increased as CME now holds the third-largest position in terms of OI. CME has seen a 1.35% increase in OI and metrics show CME commands 15.54% of all the bitcoin futures’ open interest. CME is followed by bitcoin futures markets such as Bybit, Okex, Deribit, Huobi, and Bitmex. Collectively all five of the mentioned crypto derivatives exchanges command 35.56% of all the bitcoin OI tallied. What do you think about bitcoin futures’ open interest surging before the bitcoin ETF listed today? Let us know what you think about this subject in the comments section below. View the full article

Following shiba inu’s 260% gains during the last 30 days, the third-largest meme-based crypto asset in terms of market capitalization, baby doge coin (BABYDOGE), has taken the lead in terms of market performance. Another meme asset, dogelon mars (ELON) has soared 286% this past week. Moreover, during the last seven days, baby doge coin’s price spiked 40% in value and over 3.4% in the last 24 hours. This Past Week Dogelon Mars and Baby Doge Coin Soared in Value While bitcoin (BTC) has spiked over the $60K zone and currently rests above $62K per unit, a number of other crypto-assets have followed the leading digital currency’s rise. The original and popular meme-based crypto-asset dogecoin (DOGE) has increased in value 6.4% during the last week, but two other meme cryptos have skyrocketed in recent times. As far as the top meme-based crypto assets, in terms of market capitalization, two unique tokens have seen massive gains. The spikes in value follow the second-largest meme-based crypto shiba inu’s (SHIB) significant rise a week and a half ago. The first-largest mover as far as meme currencies are concerned is dogelon mars (ELON), which has increased by 73.6% in the last 24 hours. Weekly stats show ELON is up a whopping 314.8% in value and the crypto asset trades for way less than a U.S. penny at $0.000000619134 per unit. While dogelon has made it to the third-largest market cap in terms of meme-based crypto assets, ELON’s cap is only $332 million. That’s a far cry from SHIB’s $14 billion market valuation and DOGE’s $32.5 billion. Baby Doge Moves Up the Ladder to the 4th Largest Meme Currency Market Cap On August 28, 2021, coingecko’s “Top Meme Tokens” by market cap indicated that dogelon mars held the eighth largest market position. Today, dogelon mars is holding the third spot, but by only $12 million, as the crypto asset baby doge coin (BABYDOGE) has captured the fourth position with $310 million. BABYDOGE is up 40% this past week and over 3.4% during the last day. Just like ELON, the crypto asset baby doge coin is also trading for less than a U.S. penny. At the time of writing, BABYDOGE is swapping for $0.000000001700 per coin and during the last day, it saw $9,062,901 in 24-hour trade volume. Meanwhile, SHIB has dropped 6.8% this past week and DOGE is down 3.0% over the last 24 hours. As far as market performance is concerned, dogelon mars and baby doge coin are outshining their predecessors. What do you think about dogelon mars and baby doge coin spiking in value during the last week? Let us know your thoughts about this subject in the comments section below. View the full article

Hindu nationalist group Rashtriya Swayamsevak Sangh (RSS) has called on the Indian government to regulate cryptocurrencies. “The government has to ensure that it is regulated in the larger interest of the society,” the group reportedly said. Rashtriya Swayamsevak Sangh Calls for Crypto Regulation Mohan Bhagwat, head of the Rashtriya Swayamsevak Sangh (RSS), said during his speech at an annual event marking the Hindu festival of Dussehra Friday: Clandestine, uncontrolled currency like bitcoin has the potential to destabilize the economy of all countries and pose serious challenges. The RSS is a Hindu nationalist paramilitary group founded in 1925 by Dr. Keshav Baliram Hedgewar in Nagpur. According to the group’s website, any Hindu male can become a member of the group by attending an RSS shakha, a daily gathering. There is no formal membership procedure and there are no fees to join. The group’s website further states that the RSS does not keep a record of the number of members. However, it notes that in March 2017, there were 57,185 daily RSS shakhas held at 36,729 places (including rural and urban), in addition to weekly gatherings at 14,896 places and monthly meetings at 7,594 places in Bharat. According to the Muslim Mirror, there are now more than 10 million active RSS members across India and over 100 affiliated bodies. Prime Minister Narendra Modi was also a member of the group. Bhagwat was also quoted as saying, “I have no idea which country regulates a currency like bitcoin or if there are any rules governing them.” He added: The government has to ensure that it is regulated in the larger interest of the society. The Indian government is currently working on a cryptocurrency bill. In July, Finance Minister Nirmala Sitharaman said that the crypto bill was ready for the Cabinet. In September, Jayant Sinha, a lawmaker with the ruling Bharatiya Janata Party, revealed that the cryptocurrency legislation will be distinct and unique. However, the Reserve Bank of India (RBI) continued to have “serious concerns” regarding cryptocurrencies. In addition, the RBI is working on a central bank digital currency (CBDC), which will be launched in phases. The central bank expects to unveil a digital rupee model by the end of the year. What do you think about the Rashtriya Swayamsevak Sangh calling for Indian crypto regulation? Let us know in the comments section below. View the full article

PRESS RELEASE. The ZoidPay Chrome extension will allow users to spend their cryptocurrencies on products, pay subscriptions, and even book flights with 40+ million online retailers. October 19th, 2021, Bucharest, Romania — ZoidPay has announced the launch of its Chrome Extension, allowing millions of users to shop using various cryptocurrencies with all online merchants across the world. Shop Easier than Ever Before The ZoidPay Chrome Extension is platform agnostic, letting shoppers connect to it using any digital wallet. Currently being rolled out in phases, the Chrome Extension will be available globally by November 2021. It promises to bridge the gap in making crypto adoption mainstream. Users can choose from any major cryptocurrency to make payments for their purchases on Walmart, Alibaba, MediaMarkt, Lazada, and eMag to name a few. Through the Chrome Extension, ZoidPay offers instant liquidity of up to $1 billion for crypto assets per day. Eduard Oneci, CEO and Co-founder at ZoidPay, stated: “Our Chrome Extension is unlike any other product in the market. It truly lets one shop anything from anywhere using their digital assets. When we started this journey nearly 3 years ago, we were fixated on building a platform that makes crypto usage seamless and secure. The Chrome Extension manifests this vision.“ Made for Crypto & Non-Crypto Users Be it a user familiar with cryptocurrencies or one who’s not yet ventured there, the Chrome Extension promises a seamless experience. With easy onboarding, (including KYC) the Chrome Extension gets users ready to shop from over 40 million retailers across the world in a matter of minutes. Additionally, it offers instant liquidity for most major crypto assets, independent of the wallet used. With the Chrome Extension, ZoidPay has introduced a liquidity solution that lets all users shop anything from anywhere using crypto. Cashback, Staking, Loans & Much More Whether users are buying the latest iPhone 13 Pro Max, paying their Netflix subscription, or getting ready to book their next holiday trip, cashback is guaranteed on all crypto purchases with Bitcoin, Ethereum, BNB, and most major cryptocurrencies. All cashback is instant and paid in ZoidPay’s native token ZPAY, directly into the user’s wallet. Eduard continued: “Be it a regular crypto holder or even a user who’s never dealt with cryptocurrencies before, the Chrome Extension promises a hassle-free journey. Beyond the ease of use and safety, the benefits that come from shopping with the Chrome Extension are unlimited. For a start, every purchase made comes with a reward in the form of cashback.” The Chrome Extension comes packed with staking and other DeFi integrations, creating a unique, personalized user experience. From staking ZPAY in shopping pools, getting loans, and paying in installments at merchants, the Chrome Extension becomes a one-stop secure shop for all crypto and non-crypto users. Crypto Adoption 2.0 There have always been questions about the accessibility, safety, and efficiency of using cryptocurrencies for online shopping. With the launch of the Chrome Extension, ZoidPay has taken a major leap in its vision of making cryptocurrency easily accessible for daily use. Consumers can finally use their crypto to buy products, pay subscriptions and even buy tickets with the groundbreaking new Chrome Extension. ZoidPay Socials Twitter | Facebook | Instagram | Telegram | Linkedin Media Contact Details Contact Email: hello@zoidpay.com ZoidPay is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest 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. Listen to the latest Bitcoin.com Podcast: View the full article

Sandile Shezi, the young South African bitcoin trader who is facing fraud charges, has denied allegations he scammed shareholders in his Global Forex Institute. Shezi: Shareholders Signed Up for Education, Not Investments Despite his rejection of the allegations, a spokesperson for the country’s police told the Sunday Times newspaper that Shezi has agreed to turn himself in. As reported by Bitcoin.com News, a warrant for Shezi’s arrest had been issued after two aggrieved investors reported the bitcoin trader to the South African police. Now, as he contemplates turning himself in, Shezi — who is referred to as South Africa’s youngest millionaire — has also launched a spirited defense of his actions. He further beat back suggestions that the Global Forex Institute is a financial services provider. According to a report by the Sunday Times, Shezi said: These shareholders signed up, not for investments, but our education programme. Our training includes technical analysis, fundamentals and a bit of this and that. You go through us to run your own small personal portfolio, not trade for HSBC. Shezi Exploring Possibility of Buying Out Aggrieved Shareholders The 29-year-old bitcoin trader added that he finds it strange that some shareholders are making these allegations when in fact they were part and parcel of the business. Nevertheless, Shezi said he is now exploring the possibility of buying out the shareholders. In the meantime, Shezi’s lawyers have vowed in a statement released via Instagram on October 15, that they will launch legal proceedings against those accusing Shezi of defrauding them. What are your thoughts about this story? Tell us what you think in the comments section below. View the full article

One of the biggest asset managers in Brazil, Kinea, disclosed it made an exploratory investment in Ethereum. The announcement was made by Marco Aurélio Freire, manager of funds for Kinea, who stated the company had invested a small amount of its holdings in ethereum starting two months ago. Kinea, the investment arm of Banco Itau, has more than R$56 billion (about $10.2B) in assets under management. Kinea Looks Into Crypto Investments Kinea, one of the leading asset managers in Brazil, has made an exploratory investment in the cryptocurrency world. The company, which has a vast amount of assets under management, chose to invest in ethereum instead of in the most popular choice, bitcoin. Marco Aurélio Freire, manager of the funds of the company, declared to local media the investment was made two months ago. Freire did not disclose the amount of the investment but did say it was a small amount to test the market. Freire believes in the role of cryptocurrencies as a necessary asset to diversify portfolios. He stated: I see cryptocurrencies as a secular trend in which it is worth having an exposure. This seems to align with his beliefs about the current situation in Brazil and the necessity of international diversification of investments. Crypto assets can support investors in diversifying their portfolios. Ethereum vs. Bitcoin For many, the election of Kinea could be strange in a world dominated by bitcoin investments at an institutional level. Freire justified this choice by stating that, while bitcoin was the kickstarter of the decentralized finance world, other currencies also have many interesting things to offer. Freire stressed: People generally confuse cryptocurrencies with bitcoin, but there is much more to the cryptocurrency market than just bitcoin. In this sense, Freire pointed to the recent success that NFTs (non-fungible tokens) have experienced, and how this success has reinvigorated the collectible and sports markets. Managers from Kinea had already declared that bitcoin, being the first cryptocurrency, had a relatively simple design. However, other cryptocurrencies came to refine the concept that bitcoin founded, addressing problems like scalability and environmental impact. Kinea managers stated: We believe that more developed currencies and protocols should be more attractive to investors. And in retrospect, Kinea’s investment has done pretty well. Two months ago, on August 18, the price of Ether was $3,184. Now, the crypto asset is worth $3,855 at the time of writing. What do you think about Kinea’s ethereum investment? Tell us in the comments section below. View the full article

The National Police have issued a warning for a wave of cryptocurrency-related investment scams in Spain. The amount that has been lost in these kinds of investments recently is €240,000 related to just two complaints. However, there has been a rise in the complaints presented by citizens due to the popularity that these financial instruments are experiencing now. National Police Warn About Crypto Scams in Spain The National Police of Spain has issued a warning to citizens about the rise of cryptocurrency-related scams in the last few days. In the two more recent complaints the national police have received alone, crypto investors have lost €240,000 (~$278,385). These two complaints stem from the city of Navarra. This happens because the market is flooded with companies that offer cryptocurrency investment opportunities guaranteeing a high level of returns. But to guarantee these returns, the companies ask for high amounts of money as an investment. Many of these companies have profiles on social media with thousands of followers, giving an impression of legitimacy to these investors. They manage to entice investors to put money in these platforms, and then, for a time, their digital platforms show a supposed growth in the capital invested. But when investors try to withdraw these funds, they find that it is impossible to do so. These platforms then ask for huge sums of money to withdraw funds and that is when users know they have been scammed. How to Avoid Being the Victim of a Scam The National Police gave a series of recommendations to avoid being the victim of an investment scam. First, it recommended potential investors do research on the background of the company or platform they are trusting with their funds. Users should be sure these companies are solvent, and that they are not mentioned in any alert issued by authorities on investment platforms. However, if investors find themselves caught in a potential scam, police recommend filing a complaint with the authorities quickly. The police explained that “The immediacy in the detection of the crime committed facilitates its investigation.” Spain has not been a stranger to the recent cryptocurrency boom. Local media reported that tribunals were being flooded with crypto-related cases last June. But the crypto fever has not permeated to the highest spheres of investing. As of May, the biggest asset managers in Spain were still reluctant about investing in crypto. What do you think about the National Police warning of cryptocurrency investment scams in Spain? Tell us in the comments section below. View the full article

Microstrategy CEO Michael Saylor has suggested Nigeria and Zimbabwe issue currencies that are backed by bitcoin if they want to fix their economies. He surmised that using the bitcoin standard will end starvation and allow citizens of both countries to have a decent life. National Currencies Backed by Bitcoin In a video clip where he also addresses claims that the Bitcoin network cannot scale, Saylor suggests that if Nigeria and Zimbabwe purchase bitcoins worth $2-3 billion, they could well end the currency woes they presently face. Saylor explained: You wanna fix your country like Nigeria, or Zimbabwe? The way you fix your country is you buy $2 billion, $3 billion worth of bitcoin and you issue currency backed by the bitcoin. That is the bitcoin standard. And every one of your citizens stops starving to death. And they live a decent life. Bitcoin as ‘the Kingmaker’ Before mentioning Nigeria and Zimbabwe, Saylor, whose company now holds more than 114,000 bitcoins, also identifies Turkey as another country that could buy bitcoins and use them to back the lira currency. According to Saylor, if Turkey were to purchase bitcoins worth $5 billion and hold these for the next five years, this could potentially strengthen the lira currency. Despite Saylor’s constant exhortations, only one country, El Salvador, appears to have taken heed of the advice. Many other countries, including Nigeria, have instead chosen to create their own digital currencies which they hope will diminish the appeal of bitcoin. However, in the same video, Saylor insists this will happen and this will prove that bitcoin is “the kingmaker.” Do you agree with Saylor’s sentiments on bitcoin? Tell us what you think in the comments section below. View the full article

PRESS RELEASE. The Floor NFT’s are fresh, hand-drawn, non-PFP (Profile Picture), artistic collectibles on the Ethereum Blockchain, crafted with love by DAHR in his pleasing cartoonish art style. Only 7777 provably rare artworks were generated from 150 traits/attributes in order to gather together a first-ever NFT condominium community. The Floor NFT spawned from the idea of wanting to give back to the world, what the NFT community has given to the founders of the project in the form of a charity based project. The Floor NFT tries to capture the rift between different classes and environments in society. In some images you have the toxic smoggy background with dilapidated buildings which vary from slums to wrecks. On the flip side, some of the Floor NFTs will feature perfect sunny backgrounds with luxurious penthouses in the foreground with diamonds and gold plated walls. With the roots of the project being focused on charity, The Floor NFT has set aside $77,777 to go to a community voted charity that combats poverty within society upon successful sellout of the project. The Floor NFT journey doesn’t end with a successful sell out at mint, the focus is to continue to build the community. The community will be involved in every element of the project. Future plans include jumping ahead into the next exciting chapter of NFTs, THE METAVERSE! The Floor NFT is in discussions with the Sandbox to develop THE FLOOR TOWER. The Floor Tower will be a place for the community to gather and for the team to host events. More details about The Floor tower will be announced in roadmap 2.0 shortly after the mint. The Floor NFT Mint starts with a Presale on Wednesday, October 20th open to collaborator projects, as well as whitelist members. A special presale will be held on Thursday, October 21st for Early Adopters. The price of both presales will be .07 ETH. Details are available on The Floor NFT Discord server (https://discord.gg/thefloornft ) The public mint (open to all) is set for Friday, October 22nd with at least 3500 NFTs up for grabs at the price of .0777 ETH. Meet The Floor NFT Team: Roman “Laffpro” (https://twitter.com/Laffpro_art) Domantas (https://www.linkedin.com/in/domantas-raulusevicius-98a70012a) DAHR (https://vk.com/public190589568) Philipp “PhSh” (https://www.linkedin.com/in/philippsh/) Ethan “Envey” (https://twitter.com/EnviousNFTs/) Xert (https://www.discord.com/users/809410126851080202/) Media Contact: Name: The Floor NFT Website: www.thefloornft.com Email: info@thefloornft.com City & Country: Palanga, Lithuania Twitter: https://twitter.com/Floor_NFT Discord: https://discord.gg/thefloornft Medium: https://medium.com/@thefloornft 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. Listen to the latest Bitcoin.com Podcast: View the full article

Registered investment advisors (RIAs) with about $110 trillion under management can now offer their clients cryptocurrency trading through Interactive Brokers. RIAs manage portfolios of almost 61 million clients. Registered Investment Advisors Can Now Offer Cryptocurrencies to Clients Global investment firm Interactive Brokers Group (Nasdaq: IBKR) announced Monday the launch of cryptocurrency trading for registered investment advisors (RIAs) in the U.S. This offering will enable RIAs to “trade and custody bitcoin (BTC), ethereum (ETH), litecoin (LTC) and bitcoin cash (BCH) via Paxos Trust Company on behalf of clients.” They will be able to manage their clients’ crypto holdings alongside traditional investments, including stocks, options, futures, bonds, mutual funds, and exchange-traded funds (ETFs). Nearly 14,000 investment advisors registered with the U.S. Securities and Exchange Commission (SEC) have reported nearly 61 million clients in 2020, according to a joint study by the Investment Adviser Association and National Regulatory Services. Both numbers are new highs for the industry. In addition, the industry has approximately $110 trillion in total assets under management. The Interactive Brokers platform has about 1.33 million customer accounts and $330.6 billion in customer equity as of the first quarter. Clients from over 200 countries and territories invest globally in stocks, options, futures, currencies, bonds, and funds from a single integrated account. Steve Sanders, Executive Vice President of Marketing and Product Development at Interactive Brokers, commented: Allocating a small percentage of assets to cryptocurrency as part of a well-diversified portfolio has steadily become more commonplace, and advisors may wish to recommend cryptocurrency to their clients. Cryptocurrency trading with Paxos on Interactive Brokers’ RIA platform has commissions of between 0.12% and 0.18% of trade value, depending on monthly volume, the company detailed. Moreover, the notice adds that there are no added spreads, markups, or custodial fees. The company noted that while the offering is only available to RIAs in the U.S. initially, it plans to “launch the service for financial advisors in other parts of the world, in the future.” What do you think about RIAs being able to offer clients crypto trading through Interactive Brokers? Let us know in the comments section below. View the full article

New York Attorney General Letitia James has ordered two cryptocurrency lending platforms to shut down and requested three other platforms to answer questions regarding their activities immediately. The letters to the companies published on the attorney general’s website indicate that the two platforms are Nexo and Celsius Network. New York Cracks Down on Unregistered Crypto Lending Platforms New York Attorney General (NYAG) Letitia James announced Monday her new efforts to crack down on unregistered cryptocurrency companies. In New York, lending platforms must register with the Office of the Attorney General (OAG) to operate in the state or offer products to its residents. The announcement details: Today, Attorney General James directed two of these lending platforms to immediately cease their unregistered and unlawful activities in New York and directed three other platforms to immediately provide information about their activities and products. The notice explains that crypto lending platforms “are essentially interest-bearing accounts that offer investors a rate of return on virtual currencies that are deposited with them.” Under the Martin Act, “The nature and function of the most common virtual currency lending products or services demonstrate that they fall squarely within any of several categories of ‘security.’” The U.S. Securities and Exchange Commission also views lending products as securities. SEC Chairman Gary Gensler recently told cryptocurrency exchange Coinbase that its Lend products were securities. The NYAG website also published cease and desist letters to the two lending platforms in question. While the letters were redacted, the file names indicated that they were sent to Nexo and Celsius Network. Three other unnamed firms received a letter asking for information about their activities. Nexo tweeted after the news broke: “Nexo is not offering its Earn Product & Exchange in New York, so it makes little sense to be receiving a C&D for something we are not offering in NY anyway. But we will engage with the NY AG as this is a clear case of mixing up the letter’s recipients. We use IP-based geoblocking.” Attorney General James emphasized: Cryptocurrency platforms must follow the law, just like everyone else, which is why we are now directing two crypto companies to shut down and forcing three more to answer questions immediately. Last month, Attorney General James shut down the cryptocurrency trading platform Coinseed after filing a lawsuit against the company earlier this year. In February, she announced an agreement with Bitfinex, Tether, and related entities that ended their trading activity in the state of New York and imposed an $18.5 million penalty on the companies. What do you think about New York Attorney General Letitia James taking action against unregistered crypto lending platforms? Let us know in the comments section below. View the full article

Grayscale Investments has confirmed its plan to file for its bitcoin trust (GBTC) to be converted into a bitcoin exchange-traded fund (ETF). “The NYSE Arca will file a document called the 19b-4 to convert GBTC into an ETF,” said Grayscale’s official. GBTC to Become Bitcoin ETF Grayscale Investments has confirmed that it will convert its flagship product, Grayscale Bitcoin Trust (GBTC), into a bitcoin exchange-traded fund (ETF). Jennifer Rosenthal, Grayscale’s communications director, tweeted Monday: Today, I’m happy to confirm that Grayscale will file for GBTC to be converted into an ETF as soon as there’s a clear, formal indication from the SEC. She described: “Grayscale’s position has always been clear: we are 100% committed to converting GBTC — and our product family — into ETFs, when the SEC has formally expressed their requisite comfort with the underlying bitcoin market.” The Grayscale communications director added that there are positive developments within the SEC, including the approval of a futures-based bitcoin ETF that is expected to start trading Tuesday. The bitcoin futures ETF from Proshares will trade under the ticker symbol “BITO” on the NYSE. Rosenthal explained that this means: Once there’s official and verifiable evidence of the SEC’s comfort with the underlying bitcoin market — likely in the form of a bitcoin futures ETF being deemed effective — the NYSE Arca will file a document called the 19b-4 to convert GBTC into an ETF. The company’s total assets under management (AUM) is $53.5 billion as of Oct. 18, with GBTC holding about $39.77 billion. Grayscale CEO Michael Sonnenshein told CNBC Monday: There is a lot of excitement for regulators finally allowing a bitcoin anything onto a national securities exchange … When you look at the structure of a bitcoin futures product, there is going to be an impact to investors. What do you think about Grayscale converting GBTC into a bitcoin ETF? Let us know in the comments section below. View the full article

The price of bitcoin recently jumped above the $60,000 per unit mark on October 15, and the leading crypto asset has not seen prices this high since mid-April six months ago. However, as far as the top digital assets are concerned, in terms of market capitalization, things are a whole lot different. For instance, ether tokens are worth a lot more than they were six months ago and binance coin values were higher back then than they are today. Six Months Later as Bitcoin Returns to $60K, Some Crypto Coins Trade for More Value, While Others Trade for Less On April 11, 2021, statistics from coinmarketcap.com’s historical snapshot data show that on that day, bitcoin (BTC) exchanged hands for $60,204 per unit. BTC also reached an all-time high three days later on Apr 14, 2021, at $64,804 per coin that week. The data from the historical snapshot indicates that ethereum (ETH) was swapping for $2,157 per coin on April 11 and today, a single ether is trading for $3,761 per unit. The stats six months ago show binance coin (BNB) held the third position six months ago and at the time each BNB traded for $525. Prices are a bit lower than they were back then and BNB lost the third position to cardano (ADA) for a few months. Today, metrics show that BNB is swapping for $480 per coin which is 9.375% lower than the price six months ago. At that time, XRP held the fourth position in terms of market cap but today, XRP has slid to the sixth position. The stablecoin tether (USDT) held the fifth spot back then, today it is sitting at number four. Like ethereum (ETH), cardano (ADA) is another coin that was trading for lower prices on April 11. At the time, ADA exchanged hands for $1.27 per coin and on October 18, ADA trades for $2.12 per unit. Polkadot (DOT) held the seventh position trading for $41.42 per DOT six months ago, today DOT trades for a touch lower at $40.76 and sits in the eighth largest position. Litecoin, Uniswap, Chainlink Bumped Out of the Top 10 — Theta, Filecoin, Tron, Vechain Slip Out of the Top 20 Litecoin (LTC), uniswap (UNI), and chainlink (LINK) held the last three positions in the top ten respectively. But none of these coins are in the top ten positions anymore and UNI is the closest today. Positioned at 14 today, UNI is trading for $25.39 but on April 11, the token changed hands for $29.98. LTC was holding the eighth largest market valuation six months ago, but today it has slid to the 16th largest. LTC exchanged hands for $253.63 and today its much lower at $185.22. Chainlink (LINK) was swapping hands for $33.92 per LINK back then, but on October 18, the price is around $25.59. LINK at that time held the tenth-largest spot and it now holds the 18th position. Missing from the top 20 coins that were seen on the list back then include tokens like theta (THETA) filecoin (FIL), tron (TRON) and vechain (VET). One notable gainer is solana (SOL) which moved from the 20th top position to the crypto economy’s seventh-largest spot in terms of valuation. What do you think about the top ten crypto coin shift and some of the crypto assets that were bumped out of the top ten and twenty market positions during the last six months? View the full article

PRESS RELEASE. Blockchain Euro Project BEUROP has announced the launch of its DeFi trading and Marketing platform for cryptocurrency startups and everyday users. Monday 18th, London, England — Following the launch of it’s deflationary BEPR token, Blockchain Euro Project (BEUROP) is preparing to establish its first product: a DeFi crypto trading and marketing platform for developing blockchain industry startups. What is BEUROP? BEUROP is a European blockchain-powered company that focuses on making cryptocurrency startups transparent, efficient, and reliable. The company’s new flagship product is a DeFi trading & marketing platform that will help legitimize emerging companies, tokens, and blockchain projects; while offering token holders potential income, and liquidity. DeFi & Marketing Platform The BEUROP platform aims to integrate projects in the DeFi, NFT, CeFi, Gaming, and Business space into its ecosystem, while also providing benefits to regular crypto users. The platform’s tools will offer business promotion through marketing banners like Poocoin or Dextool, and functionalities like Coinsniper and Coinhunter, with the option to vote/promote tokens directly. The advertising package contains complete marketing for presale, post-sale, and exchange listing. Crypto Trading and Marketing Tools Everyday crypto users will benefit from an intuitive interface that integrates: Night mode Free trading options Digital asset analysis Audited Smart contracts with characteristics to match with honeypots. The platform also features enhanced cryptographic security which uses its intelligence tool for comprehensive cryptocurrency analysis. The result will be a free report on possible risks or threats when working with a token/currency. BEUROPs DeFi trading and marketing platform aims to provide a complete product with all the utilities, accessible, secure, and with the best prices on the market. The company will also build a cross-chain bridge to other networks such as Solana, Polygon, and Ethereum. Therefore, users will have the opportunity to join BEUROP’s platform and get all the benefits in one product. Services and Resources A good marketing strategy for blockchain projects ensures the proper positioning in the crypto ecosystem and the influx of long-term investors. BEUROP includes multiple services and tools that will boost startups. After launching the first version, developers will implement several functionalities for the crypto marketing platform as startup launchers. BeSmartBeurop BEUROP is also set to soon release BeSmartBeurop, a free educational program for BEPR holders that will include financial knowledge, personal development, programming skills, trading, among other options. The company will help people to develop professionally and personally. The best qualifications will join the BEUROP team in designing the first blockchain ecosystem in the European Union. e-Wallet & BEPR Distribution Parallel to the educational platform, BEUROP will launch its e-wallet. This product will be connected to the other projects within the roadmap, to minimize cases of fraud and help to improve the process of buying/selling the reflective token, BEPR. Project owners will have a secure and efficient tool in BEUROP DeFi crypto trading and marketing platform. Meanwhile, BEPR token holders will see stable growth of their finances with this product due to its reflection mechanism, in which 10% of the taxes are distributed (BEPR Holders 3%, LP Holders 3%, and Marketing 4% which include 1% for Charity). About BEUROP With legal registration in England and a team with more than five years of experience in blockchain solutions, BEUROP is a company created to provide its investors with stable income through an ecosystem whose products respond to the current needs of the crypto market. Anyone interested in the project can check out the BEUROP Whitepaper here. BEUROP Socials Twitter | Discord | Telegram | Medium | Team | Insta | Facebook Media Contact Details Contact Name: Karen Gandia Contact Email: info@beurop.com BEUROP is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest 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. Listen to the latest Bitcoin.com Podcast: View the full article

October has been a strong month for cryptocurrencies like bitcoin but a number of decentralized finance (defi) tokens have seen higher double-digit gains this past week. Moreover, non-fungible token (NFT) sales have picked up and after the total-value locked (TVL) in defi crossed $200 billion on October 5, two weeks later another $22 billion has been added to the TVL. Defi Network Tokens Polkadot, Polygon, Binance Coin, Stacks Outperform Bitcoin’s Weekly Gains Bitcoin (BTC) has been doing extremely well and BTC dominance has increased to 45.3% during the last week. However, a decent quantity of defi tokens from specific blockchain networks have outperformed BTC during the last week. In fact, out of all the crypto assets in existence today, nine different digital assets saw better gains than bitcoin and a great deal of them are focused on defi. Polkadot (DOT) was this week’s leader with an increase of 19.6% and those gains were followed by polygon’s (MATIC) 19.4% percentage gains. Other strong gainers that outperformed bitcoin included binance coin (BNB), stacks (STX), and stellar (XLM). Total-Value Locked in Defi Sees $22 Billion Added in 2 Weeks Two weeks ago, on October 5, the total-value locked (TVL) in defi surpassed $200 billion and today defillama.com stats indicate the TVL is $222 billion. The decentralized exchange (dex) platform Curve holds the largest dominance with 7.72% of the TVL in defi. Curve is followed by Aave, Makerdao, and Wrapped Bitcoin in terms of defi dominance on October 18. Ethereum captures $152.27 billion of the total TVL in defi and the Binance Smart Chain (BSC) commands $19.22 billion. Blockchains that have seen significant increases in TVL in defi include networks like Solana, Terra, and Avalanche. While Avalanche saw a 31.24% TVL gain, Harmony’s TVL increased by 24% during the last week. Monthly Non-Fungible Token Sales Increase, Opensea Nears $10 Billion in All-Time NFT Sales Metrics from nonfungible.com’s 30-day market history indicates that NFT sales jumped a great deal on October 5, and have continued to rise. NFT sales recorded during the last month were around $1.836 billion across 174,529 active market wallets. Statistics from Dune Analytics show that the total transaction volume for NFTs measured in ETH, across 5.9 million transactions, is around 3,886,298 ether or $11.1 billion using today’s exchange rates. Moreover, dappradar.com data shows that the NFT marketplace Opensea is nearing $10 billion in all-time sales and currently has $9.19 billion recorded so far. Axie Infinity has $2.61 billion and the NFT marketplace Rarible has recorded $230.76 million in all-time sales. Polygon, Binance Smart Chain Addresses Tap All-Time Highs, Dex Trade Volume Remains Flat While Sushiswap Volume ‘Increased Sharply’ Additionally, statistics recorded by Coin98 Analytics weekly defi report indicates that the number of BSC active addresses reached an all-time high. However, the Polygon (MATIC) network surpassed BSC as far as the quantity of wallets created onchain. “It also reached the ATH of 100 million wallets,” Coin98 Analytics said in its report. “The number of Ethereum wallets has remained unchanged from last week.” The weekly report also discusses defi’s liquidity by protocol, dex platform weekly trading volume, and the daily active dex users as well. The report highlights that while dex trade volume has not grown much, it maintained $20 to $22 billion each month. Coin98 Analytics detailed, however, that Sushiswap volume “increased sharply, reaching $2.7 billion.” What do you think about the defi tokens outperforming bitcoin and the TVL increase during the last two weeks? What do you think about the NFT sales volumes increasing and the address increase on Polygon and Binance Smart Chain? Let us know what you think about these subjects in the comments section below. View the full article

American credit rating agency Fitch Ratings, one of the ‘Big Three’ credit rating agencies, has published a report that says stablecoin growth could affect securities and commercial paper (CP) markets. The agency says stablecoins could be “disruptive” and “stablecoin-related turbulence” could “transmit shocks” to other markets. Fitch Ratings: ‘Stablecoins Could Be Disruptive for CP Markets’ On Monday, the ‘Big Three’ credit agency Fitch Ratings published a report on stablecoins and the growth of these new assets. The report follows a study from Fitch that discusses El Salvador adopting bitcoin (BTC) as legal tender in the country. The latest report explains that stablecoins have grown exponentially and the Fitch report’s authors highlight the growth of the popular stablecoin tether (USDT). The study also mentions Facebook’s reported plans to launch a stablecoin crypto asset called “Diem.” “The rapid growth in stablecoins means these securities holdings are already relatively large,” Fitch noted. “Although Tether’s annualised market value growth slowed to 45% in 2Q21, it has risen by 230% since the start of 2021 to 15 October to reach USD68.6 billion,” the rating agency added. This growth and “reserve allocations” could end up becoming a “significant investor group” in the U.S. commercial paper market, the study from Fitch Ratings suggests. The paper adds: Stablecoins could be disruptive for CP markets; for example, owing to run risks. Stablecoin-related turbulence could both affect the CP market itself and transmit shocks to other market participants. Risks could be aggravated if the infrastructure and partners used by stablecoin operators to engage with traditional markets lack a record in the smooth handling of transactions during periods of market stress or volatility. Fitch Ratings Report: ‘The Regulatory Approach Towards Stablecoins Will Affect How the Sector Develops’ In the article, the term “disruptive” is highlighted with a hyperlink that leads to another article published by Fitch Ratings on July 1, 2021. That specific report says stablecoins could “pose new short-term credit market risks.” Fitch researchers say in the latest stablecoin report published on Monday, that regulations will define how the stablecoin sector develops. At present, the Fitch authors say regulatory approaches in the EU and U.S. are currently “unclear.” The report alludes to the belief that government entities may be able to keep stablecoins defined under the promise that reserves like cash and low-risk government securities are maintained. Overcollateralization, something that algorithmic and decentralized finance (defi) stablecoins like DAI leverage, could reduce overall damage, the Fitch report concludes. “A requirement for stablecoin operators to hold more reserves in safe and highly liquid assets could reduce allocations to CP, but raise the influence of stablecoins on the short-dated government market,” the Fitch Ratings report explains. “Other initiatives, including the potential launch of central-bank digital currencies, could also significantly affect demand for stablecoins.” What do you think about the recently published Fitch Ratings report that explains stablecoin growth could affect securities markets and other areas of finance? Let us know what you think about this subject in the comments section below. View the full article

The governor of New York state, Kathy Hochul, has been urged by a group of local companies to deny business permits to bitcoin miners. The letter specifically asks for the “denial of permits for the Greenidge Generating Station and the Fortistar North Tonawanda Facility.” The letter also calls for the New York government to assess “proof-of-work” (PoW) digital currency mining in the state as the local businesses believe PoW mining “drastically undermines New York’s climate goals.” Local Businesses From New York Urge Governor Kathy Hochul to Impose a Statewide Bitcoin Mining Moratorium Climate change is a big deal to a number of local businesses in the state of New York as a large coalition of companies has urged governor Kathy Hochul to deny bitcoin mining permits. The coalition’s letter is backed by businesses and organizations such as Seatuck Environmental Association, Ravines Wine Cellars, Peconic Baykeeper, Nassau Hiking & Outdoor Club, NYPAN Environmental Committee, Mothers Out Front New York, and New Yorkers for Clean Power. “We, the undersigned organizations, businesses, and labor groups, write today to urge your administration to issue a statewide moratorium on proof-of-work (PoW) cryptocurrency mining until a thorough statewide Generic Environmental Impact Statement (GEIS) is conducted, and to deny the permits for the Greenidge Generating Station and the Fortistar North Tonawanda Facility,” the letter states. The letter, published to earthjustice.org on October 13, adds: “These ‘mining’ activities, particularly proof-of-work cryptocurrency mining use enormous amounts of energy to power the computers needed to conduct business – should this activity expand in New York, it could drastically undermine New York’s climate goals established under the Climate Leadership and Community Protection Act.” New York’s Bumpy Relationship With Bitcoin Mining The state of New York (NY) is no stranger to such controversies over bitcoin mining as debate over the subject has raged on for a few years now. In 2018, a number of counties in NY, like the Plattsburgh Common Council, passed new guidelines for miners that aimed to control noise and fire safety regulations. Despite the stricter rules in specific areas, bitcoin miners have been flocking to NY over the last two years. Meanwhile, as miners entered the New York market, operations started getting complaints from local neighbors and NY politicians. In December 2020, an environmental organization called Sierra Club, a committee aimed at preserving the Finger Lakes region, filed a lawsuit against the NY town of Torrey for allowing the Greenidge Generation power plant to expand its mining operations. Sierra Club asked the town of Torrey and the Torrey Planning Board to block the construction with an injunction. Senator Kevin Parker (D) believes bitcoin miners should halt operations over climate change concerns as well. In May 2021, senator Parker introduced legislation to address these concerns as he explained that bitcoin mining “threatens not only New York’s climate goals, under the CLCPA, but also global energy policy, such as the Paris Agreement.” Parker’s bill aimed to impose a moratorium on the operation of cryptocurrency mining centers until the NY government could complete an assessment of the environmental impact. If the moratorium was imposed, bitcoin mining operations that could prove the business does not “adversely affect the state greenhouse gas emission targets in the climate leadership and community protection act of 2019,” could operate legally under NY law. Letter Stresses ‘Climate Crisis in New York Is Here Now’ The recent letter to NY governor Kathy Hochul says that bitcoin mining facilities are threatening the state’s advances toward addressing climate change. “In New York, data mining operations using warehouses full of computers have set up shop in upstate areas siphoning electricity from New York’s grid, ‘re-powering’ defunct fossil-fueled power plants, thus seriously jeopardizing the state’s progress on and meeting mandates for reducing greenhouse gas (GHG) emissions,” the letter emphasizes. The letter stresses that the group of local businesses want governor Hochul to act now. The letter concludes: “As you have witnessed in your early weeks on the job, the climate crisis in New York is here now. New York City recently saw unprecedented flooding that led to the loss of lives – strong climate action is needed now more than ever. We urge you to lead the way and set a national precedent on the issue of proof-of-work cryptocurrency by issuing a statewide moratorium and denying the permits for Greenidge and Fortistar. Thank you for your time and consideration of our comments.” What do you think about the letter to NY governor Kathy Hochul that wants a statewide moratorium placed on bitcoin mining operations in New York? Let us know what you think about this subject in the comments section below. View the full article

Authorities in Belarus and the Russian Federation are taking steps to separate cryptocurrency miners from other groups of power users and deny them access to subsidized energy. This could lead to the adoption of differentiated electricity rates for businesses involved in digital coin minting activities. Cryptocurrency Miners in Russia and Belarus May Face Higher Energy Prices Entities engaged in the extraction of digital currencies in both Russia and Belarus may have to pay more for the electrical energy they need, media reports have revealed. Authorities in both countries are making changes that are likely to result in the introduction of special tariffs for this category of electricity consumers. The idea has been recently backed by the Russian Ministry of Energy. Crypto miners should not pay for the electricity they use at the rates intended for households, the head of the department Nikolai Shulginov told reporters on the sidelines of the Russian Energy Week. Quoted by the business news portal RBC, Shulginov noted that the ministry is now working on the issue and stated: To maintain the reliability and quality of power supply, we believe it is necessary to exclude the possibility of electricity consumption by miners at tariffs for the population. The government official made it clear that electricity rates need to be differentiated. In his view, miners should not be allowed to take advantage of the preferential tariffs as the current situation can deteriorate further. Otherwise, cross-subsidization has to be increased which would be unacceptable, the energy minister elaborated. Shulginov’s comments came after the governor of Irkutsk Oblast, Igor Kobzev, recently complained to Russia’s deputy prime minister responsible for the fuel and energy complex, Alexander Novak, about illegal crypto miners. Their actions, Kobzev said quoted by the business daily Vedomosti, increase the load on the power grid of the Siberian region and the risk of breakdowns at the local power plants. Irkutsk is the region which maintains the lowest electricity rates for households in Russia – 1.23 rubles (less than $0.02) per kilowatt-hour (kWh) in the cities and 0.86 rubles (a little over $0.01) in rural areas. The governor revealed that this year power consumption is projected to grow by almost 160% over last year’s figure. While the total electricity used in Irkutsk averaged 5.9 billion kWh in the past four years, just in the first half of 2021 it reached 4.7 billion kWh. In a social media post, Kobzev announced his proposal to recognize digital currency mining as an entrepreneurial activity and introduce special rates for electricity consumers involved in coin minting operations. Meanwhile in neighboring Belarus, with which Russia maintains strong political and economic ties, the Ministry of Energy has already classified cryptocurrency miners in a separate tariff category. The decision is part of a joint decree with the Ministry of Antimonopoly Regulation and Trade issued at the end of September. According to the document quoted Forklog, entities involved in data processing, information services and related activities, including the operators of mining facilities and data centers, will fall into this category if their annual electricity consumption is at least 25 million kWh. The tariff category has four subgroups depending on the consumption bracket with the top one covering enterprises consuming power exceeding 500 million kWh. Additional groups can be added by President Alexander Lukashenko’s administration. The current document does not mention the exact price rates for each group. Belarus legalized mining and other crypto-related activities with a presidential decree that came into force in March 2018. Earlier this year, the Belarusian leader called for clarifying certain regulatory provisions and establishing stricter control over the crypto space. Lukashenko has had a positive attitude towards crypto mining, urging Belarusians in August to mint digital coins instead of picking strawberries on foreign farms. In 2019, he suggested to power mining facilities using surplus electrical energy from the country’s new nuclear power plant. In Belarus’s energy-rich ally, the Russian Federation, the idea to recognize cryptocurrency mining as a type of entrepreneurial activity has been gaining support among government officials. In September, the chairman of the Financial Market Committee at the State Duma Anatoly Aksakov expressed his position that that the mining of digital currencies should be registered as such and taxed accordingly. Do you think Russia and Belarus will significantly increase electricity rates for cryptocurrency miners? Share your expectations in the comments section below. View the full article

A court-appointed liquidator, Dewald Breytenbach of National Liquidators, recently claimed that out of the 76 bitcoins that belonged to the now-defunct South African cryptocurrency exchange, Ice3, his firm can only account for 22. Ice3’s Abrupt Shut Down The liquidator adds that the crypto exchange’s Zurich-based tech provider Merkeleon is now being asked to help unravel this mystery. These new revelations by the South African liquidator are coming some six months after Ice3 abruptly stopped processing withdrawals. At the time of the announcement, the exchange’s management claimed the decision to suspend BTC and LTC withdrawals had been taken in order to protect users. However, just a few weeks after reassuring its users, Ice3 was abruptly shut down. Some reports then attributed Ice3’s decision to cease operations to the liquidity challenges which were being experienced by the exchange. Yet, according to an explanation now being offered by a Moneyweb report, Ice3 management’s decision to suspend withdrawals and to cease operations could be linked to the exchange’s dispute with Europe based Merkeleon. Quoting Breytenbach, the report explains: The problem [at Ice3] appears to have started when a dispute arose between iCE3 and its platform provider, Merkeleon, based in Europe. Partnership Arrangement The report also adds the Ice3 management team was under the impression a partnership arrangement existed with Merkeleon. Such a partnership meant the crypto exchange through its CEO, Gareth Grobler, would develop the software on which Ice3 operated while Merkeleon took care of the administration. Therefore, in order to establish the exact nature of the arrangement, Breytenbach says he has been in touch with Merkeleon. The liquidator says he is hopeful his firm will soon get the information it is seeking. What are your thoughts about this story? Tell us what you think in the comments section below. View the full article