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On Tuesday, the Atlanta-based cryptocurrency payments company Bitpay announced the Israeli software company Wix has enabled its Software as a service (SaaS) e-commerce product to accept crypto-asset payments. The integration will allow Wix merchants to accept 12 different cryptocurrencies such as bitcoin, dogecoin, bitcoin cash, ethereum, litecoin, and stablecoins as well. SaaS Platform Wix Implements Bitpay Infrastructure So Merchants Can Accept Crypto Founded in 2006, by the Israeli software engineers Nadav Abrahami, Avishai Abrahami, and Giora Kaplan, the global SaaS platform Wix provides users with the ability to develop both mobile and HTML5 websites without coding experience. On October 12, Wix announced that it would be implementing Bitpay’s cryptocurrency payment processing infrastructure so users can choose it as an option for the Wix e-commerce platform. Alongside five different stablecoins such as BUSD, DAI, GUSD, USDP, and USDC, Wix Merchant users can also accept bitcoin (BTC), bitcoin cash (BCH), dogecoin (DOGE), ethereum (ETH), litecoin (LTC), wrapped bitcoin (WBTC), and XRP (in specific jurisdictions). Metrics indicate Wix makes about $1 billion in revenue via its product services such as the website builder, business management services, and web hosting. “Wix is one of the largest and most widely used web development platforms with over 210 million users, so this is another step forward in moving cryptocurrency mainstream,” said Stephen Pair, Bitpay’s CEO in a statement. “Businesses can get to market quickly and capture incremental sales by tapping into the massive trillion-dollar cryptocurrency marketplace,” Pair added. Wix Executive Notes the Move Gives Merchants a ‘Whole New Market of Customers Who Prefer to Pay With Crypto’ Bitpay has made a number of moves in the industry during the last year with well known firms like Universal Air Travel Plan (UATP), the youth fashion and retail brand Pacsun, Shop.com, Dr. Luke’s music company Prescription Songs, the luxury hotel group The Kessler Collection, Verifone, the pet services platform Wag, the virtual cloud desktop startup Shells, the luxury fashion e-tailer Jomashop, and the leader of collector car, vintage and antique motorcycle, and road art sales Mecum Auctions. “We’re continuing to integrate with innovative payment partners to offer Wix merchants even more payment options to offer their customers,” Omer Shatzky, the head of billing and payments at the SaaS firm Wix. “With Bitpay, Wix merchants have access to a whole new market of customers who prefer to pay with bitcoin and other cryptocurrencies and an avenue for their business to tap into the growing cryptocurrency market.” According to the announcement, in the first stage of the Wix rollout, Wix merchants and their customers will be able to use the Bitpay service in the U.S., U.K., Germany, Canada, Australia, and Brazil. What do you think about Wix implementing Bitpay’s crypto payment infrastructure so Wix merchants can accept digital assets? Let us know what you think about this subject in the comments section below. View the full article

PRESS RELEASE. Using the iExec Oracle Factory, developers are able to create their own decentralized oracles with just the API’s URL and key. October 12th, Lyon, France, 2021 – iExec, a decentralized marketplace for computing assets, has announced the launch of the iExec Oracle Factory, a developer interface allowing anyone to create their own oracles, from scratch, in minutes, without any blockchain knowledge and directly from their browser. In order for decentralized applications to solve real world problems, they need to make use of real word data. Decentralized oracles play a major role in blockchain-based architectures, acting as bridges between blockchains and the real world. However, developers who want to create their own oracles need existing blockchain knowledge, and coding them from scratch can take hours. iExec is releasing the iExec Oracle Factory, making oracles accessible to everyone. The iExec Oracle Factory is an interface allowing anyone to create their own decentralized oracles in just a few clicks. The iExec Oracle Factory makes possible a whole range of blockchain use cases, allowing developers to deploy oracles from any kinds of data: from sport results to NFT price, from temperatures to flight schedules. Create Custom, Trusted Oracles in Minutes Several companies today offer ready-to-use decentralized oracles. With its Oracle Factory, iExec aims to fill the need for custom oracles, providing a tool allowing anyone to create not only their own oracles, but also trusted ones. The iExec Oracle Factory interface has been built to be as easy as possible to use: With the Oracle Factory, it only takes 5 minutes and a few clicks to create a custom oracle. Usually, creating an oracle from scratch takes 1 or 2 hours to code. Using the Oracle Factory, there is no need to write any line of code or even to have any blockchain knowledge. The oracle can be created directly from the web browser, using the URL of the API from which the data needs to be extracted (along with the private API key if the API is not public). In addition to creating an oracle in minutes, the iExec Oracle Factory allows for ‘trusted’ oracles, using Trusted Execution Environments (TEE) technology. The TEE technology uses hardware enclaves to protect the API key and the data collected, ensuring they remain confidential, secure, and tamper-proof. With the Oracle Factory, iExec aims to make TEE technology accessible to all while creating an oracle. Once created, users have the option to share their custom oracles with the community, by including them in the iExec Oracle Factory Gallery. This Oracle Factory Gallery will list oracles created within the interface, making them accessible for other users and developers. The iExec Oracle Factory also provides preset oracles, ready-to-use, as examples for the community. Today, iExec releases the beta version of the Oracle Factory. There will be several upgrades of the product, to include more technical features, allowing developers to quickly implement smart contracts and deploy decentralized applications. Access to the iExec Oracle Factory here About iExec iExec is a blockchain company that provides a decentralized marketplace for computing assets, allowing anyone to monetize or rent datasets, decentralized applications, and computing power. Blockchain is used to organize the exchanges between stakeholders with the maximum level of trust and security, without a centralized authority. iExec owns its native utility token, the RLC, used as the method of payment on the marketplace.The RLC token is listed on over 40 echanges, including major ones: Coinbase, Binance, Bithumb, Huobi and more. The company also works with renowned partners such as Intel, Google Cloud, and IBM Cloud. For more about iExec and its innovative new Oracle Factory, visit their main website here. Follow iExec on Twitter Join the iExec community on Telegram Read the iExec blog on Medium Stay up to date on Slack Media Contact Details Contact Name: Marianne Negrello (Communication Manager) Contact Email: press@iex.ec iExec 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

Reports from South Africa say the country’s police have now issued a warrant for the arrest of Sandile Shezi, a 29-year-old cryptocurrency trader. The warrant was issued after one Allan Ledwaba, an investor with Shezi’s Global Forex Institute, accused the cryptocurrency trader of swindling him out of more than $33,000 (R500,000). Using Supercars to Woo Victims According to a report by City Press, Ledwaba’s interactions with Shezi began soon after he attended one of the latter’s seminars where attendees were taught forex trading. Ledwaba alleges that he was shown a “trading account” belonging to Shezi which had over $5.9 million. The report adds that Shezi’s Ferraris and Lamborghinis were also used to entice Ledwaba. Having been convinced by Shezi’s pitch, Ledwaba went on to procure a $33,000 loan from his father, which he invested in the crypto trader’s company. However, soon after investing, Ledwaba says he became suspicious. The report quotes Ledwaba explaining: The agreement was that he would trade the money for me, and then every year he would give us [a] profit and then the full amount we had invested thereafter. But I became suspicious when I researched the name of the law firm used to draw up our contracts. I went to the law firm and spoke to the director, who said that they did not have a relationship with Sandile. To back his fraud allegations, Ledwaba claims that since investing with Global Forex Institute in 2016, Shezi has only paid him a profit of just over $2,600. Ledwaba adds he has since sold the motor vehicle which Shezi bought for him for “company branding purposes.” Monthly Dividend Payout The report also states that a different investor — only identified as a former Limpopo school principal — was convinced by Shezi to “resign from his job and invest his pension payout to make even more money.” However, a few months after investing nearly $67,000 in 2019, the former principal claims Shezi’s company began defaulting on monthly dividend payouts. After asking for reimbursement, the former principal claims he only received just over $6,700. Meanwhile, the City Press report also quotes Shezi’s lawyer, Lloyd Moonean, who accuses Ledwaba of defaming his client “on social media to the extent that our client received numerous concerns and complaints about the same.” The lawyer also accuses Ledwaba of breach of contract after the latter sold the vehicle which had been earmarked for branding purposes. What are your thoughts about this story? Tell us what you think in the comments section below. View the full article

Nigerian Vice President Yemi Osinbajo recently warned that the country’s official naira exchange rate of N411 for every dollar is artificially low. This exchange rate, according to Osinbajo, discourages foreign exchange entrance into the country. Naira Exchange Rate Must Reflect Realities of Market Consequently, Vice President Osinbajo says he wants the Central Bank of Nigeria (CBN) to allow the naira to “reflect the realities of the market.” As a report by The Cable details, Osinbajo also wants the CBN to rethink its foreign exchange management strategy. He explained: We can’t get new dollars into the system, where the exchange rate is artificially low. And everyone knows by how much our reserves can grow. I’m convinced that the demand management strategy currently being adopted by the CBN needs a rethink, and that is just my view. Still, Osinbajo suggested that any such reassessment should only be done when the CBN governor has time to address this issue. Naira Depreciation Since the first half of 2020, the naira has continuously depreciated against major currencies like the U.S. dollar and the British pound. At the time of writing, the official naira to USD exchange rate stands at just over 411 for every dollar. This exchange rate is nearly 40% lower than the parallel market rate of 570 naira for every dollar. Despite this discrepancy between the official rate and the black market exchange rate for the naira, the CBN has so far refused to devalue the currency. Instead, the central bank has gone after individuals and companies that are accused of fueling the naira’s slide. In the meantime, Osinbajo warned the CBN against meddling with the fiscal part of the economy. However, should the need for such intervention arise, the CBN should only act when it has “the full cooperation and consent of the ministry of industry,” Osinbajo stipulated. Do you agree with the Vice President’s naira sentiments? Tell us what you think in the comments section below. View the full article

Bitfarms, a bitcoin mining company, announced last week that construction is underway for a mega bitcoin mining farm in Argentina. The facility, which is designed to accommodate 55,000 miners, will be finished by next year. This is yet another signal that mining companies are looking for new areas with favorable conditions and cheap energy to migrate to, including places like Texas and El Salvador. Bitfarms Expands to Argentina Bitfarms, a Nasdaq-listed bitcoin mining company, announced it started building what will be a mega bitcoin mining farm in Argentina last week. The company says this facility will be able to power thousands of miners with power secured through a contract with a private power company. The farm will provide more than 210 megawatts of infrastructure capacity for the company, which reported having a mining power of 1.4 exahash per second in September. About the construction, Emiliano Grodzki, CEO of Bitfarms, stated: Our new high-production facility in Argentina, which is expected to accommodate over 55,000 miners upon completion, will greatly expand our capacity and global footprint. Grodzki noted this facility will help the company achieve its goal of eight exahash per second by the end of next year. Argentina’s Favorable Conditions Grodzki also pointed out the reasons why the company chose Argentina. The farm will be constructed in warehouses inside the power company providing the energy, creating a great location for Bitfarms. Bitfarms signed an eight-year, 210 MW deal that secures power provision at a very low price. Grodzki explained: The Argentina facility is planned to produce Bitcoin using power at the attractive rate of just US 2.2 cents per kilowatt hour, substantially reducing our already low cost of mining Bitcoin. The facility is already under construction with an Argentinian company called Proyectos y Obras Americanas S.A. (“PROA”), which will lay the electrical structure needed to power the installation. Bitfarms is just one of the mining companies seeking new locations offering favorable conditions for expanding, and Argentina is on that list, mostly due to its abundant and cheap energy in certain regions. Bitfarms took advantage of this, choosing a region where energy is plentiful and demand is low. Other companies could follow suit in the near future. What do you think about the Bitfarms mega bitcoin farm construction in Argentina? Tell us in the comment section below. View the full article

On Monday, the blockchain intelligence firm Elliptic announced the company has raised $60 million in a Series C financing round. Elliptic plans to leverage the capital to expand the team and “accelerate” blockchain research and development (R&D). Elliptic Raises $60 Million to Bolster Expansion There’s been a number of capital investments and finance injections directed at companies within the crypto ecosystem. On October 11, the blockchain surveillance company Elliptic revealed the firm has raised $60 million from strategic investors. Elliptic highlights that Evolution Equity Partners, led the funding alongside a “new investment from Softbank Vision Fund 2.” Softbank Vision Fund 2 is basically owned by Softbank Group Corp., the Japanese multinational conglomerate holding company headquartered in Minato, Tokyo. Elliptic also notes that Albion VC, Digital Currency Group, Wells Fargo Strategic Capital, SBI Group, Octopus Ventures, Signalfire, and Paladin Capital Group added to the Series C round as well. The funding will go toward new hires, R&D, and global expansion so fintech participants can “embrace the crypto opportunity with trust and confidence.” Elliptic was founded in 2013 and today, the company claims to “[leverage] over 20 billion data points covering 98% of all [crypto assets] by market cap.” “At Elliptic, we help financial institutions, from crypto exchanges to the world’s leading banks, embrace [crypto assets] more safely,” Simone Maini, CEO of Elliptic, said in a statement sent to Bitcoin.com News. “This fundraising round is an endorsement of the opportunity for [crypto assets] in the financial industry – and our absolutely critical role in the ecosystem.” Elliptic Raises Capital in the Midst of Thick Competition Elliptic’s funding follows the financing the company’s competitor, Chainalysis, saw at the end of June 2021. At that time, Chainalysis announced the firm had raised $100 million in a Series E, and the added finances brought the company’s valuation to $4.2 billion. There are also dozens of blockchain surveillance firms in the wild today. There’s also blockchain intelligence companies like Alethio, Bison Trails, Blockpit, Blockmonitor, Bloxy, Postchain, Scoreshain, Sixgill, Tibco, Credits, Crystal Blockchain, Dune analytics, Madana, Bitrank, Ciphertrace, and Ocyan. Softbank Investment Advisers Neil Cunha-Gomes says the financial conglomerate holding company is pleased to work with Elliptic. “The unique nature of crypto as a maturing asset class means there is a growing need for enterprise-grade compliance and transaction monitoring tools,” Cunha-Gomes stressed. “Elliptic was an early mover in this space and its customizable platform is trusted by financial institutions of all sizes. We are pleased to support Simone and the Elliptic team in their mission to enable safe crypto adoption globally,” the Softbank executive added. What do you think about Elliptic raising $60 million in a Series C? What do you think about the growth of blockchain surveillance firms? Let us know what you think about this subject in the comments section below. View the full article

During the first week of September, the Wormhole Network’s ethereum solana bridge was introduced to the Solana community and the following week, developers released a bi-directional connection for blockchain non-fungible token (NFT) collectibles. On Monday, the Wormhole dev team revealed it has added Binance Smart Chain support to the token and NFT bridge platform. Wormhole Now Connects Solana to Binance Smart Chain The crypto asset solana (SOL) has propelled its way to the top seventh position, in terms of market valuation, among 10,000+ digital assets in existence. Now, year-to-date, SOL has gained 5,987% but during the last 30 days, SOL is down close to 18% on October 11. Much like Ethereum, Solana’s protocol is used for decentralized finance (defi) and there’s a myriad of defi platforms built specifically for the Solana network. 1/ We're excited to announce support for @BinanceChain on the Wormhole network! Starting today, users will be able to seamlessly bridge both tokens and NFTs across the ETH, SOL, and BSC ecosystems! — Wormhole (@wormholecrypto) October 11, 2021 One specific project leveraged by a number of SOL users is the Wormhole Network, which has recently surpassed $200 million total value locked (TVL). As discussed in a recent article by Bitcoin.com News, cross-chain bridge technology has grown exponentially in recent months. Moreover, metrics recorded this week by Dune Analytics show TVL across a myriad of bridges has swelled to over $14 billion. The Wormhole Network allows users to leverage ethereum solana swaps at any time and now users can connect to the Binance Smart Chain in the same fashion. Cross-Chain Use Cases Across 3 Vibrant Blockchains Data shows that the Binance Smart Chain (BSC) is a popular defi blockchain that connects with a number of other networks. The BSC Anyswap Bridge is one connection that is utilized to leverage cross-chain technology. Last month, the BSC chain did about ten times the number of transactions settled on the Ethereum chain last month. The connection with the Wormhole Network will allow users to access the vast BSC ecosystem, the project’s announcement sent to Bitcoin.com News details. Wormhole adds that implementing support for the BSC protocol will allow users to: Avoid double wrapping as tokens are able to retain their original mint. Connect creators and artists through its multi-directional highway to move NFTs and wrapped assets cross-chain between participating ecosystems. Allowing for cross-chain governance, liquid staking tokens, and access to oracle data across the three chains with $172B in TVL. While $200 million is an increase for the Wormhole Network (WN) bridge, it pales in size to the Polygon Bridges which capture $4.5 billion TVL today, and Fantom Anyswap Bridge’s $4.2 billion. In fact, bridges stemming from Avalanche, Arbitrum, Optimism, and Zksync also have larger TVLs than the WN bridge. What do you think about the Wormhole Network implementing Binance Smart Chain support? Let us know what you think about this subject in the comments section below. View the full article

The CEO of global investment bank JPMorgan, Jamie Dimon, says bitcoin is “worthless,” questioning whether the supply of bitcoin is actually limited. He also noted that blockchain and stablecoins can be real, emphasizing that governments are going to regulate the industry. Bitcoin Is Worthless and Supply May Not Be Capped, JPMorgan CEO Jamie Dimon Suggested JPMorgan CEO Jamie Dimon reiterated his anti-bitcoin stance Monday at the 2021 Institute of International Finance (IIF) Annual Membership Meeting, which was held virtually. “Blockchain can be real, stablecoins can be real,” Dimon said. “No matter what anyone in the room thinks, nor what any libertarian thinks, nor what anyone thinks about it, government’s going to regulate it.” He opined: I personally think that bitcoin is worthless. But, “I don’t want to be a spokesperson. I don’t care. It makes no difference to me,” he added. Nonetheless, the JPMorgan boss emphasized: “Our clients are adults. They disagree. That’s what makes markets, so if they want to have access to buy yourself bitcoin, we can’t custody it but we can give them legitimate, as clean as possible, access.” The JPMorgan CEO has long been a bitcoin skeptic. Earlier this month, he said bitcoin had no intrinsic value and regulators will “regulate the hell out of it.” In May, he advised people to “stay away” from cryptocurrency. Despite Dimon’s anti-crypto stance, JPMorgan is currently offering several cryptocurrency investments to clients. Dimon reportedly went on to question bitcoin’s scarcity, specifically the cryptocurrency’s supply of 21 million coins, stating: I’ll just challenge the group to one other thing: how do you know it ends at 21 million? You all read the algorithms? You guys all believe that? I don’t know, I’ve always been a skeptic of stuff like that. Many people took to Twitter to comment on Dimon’s statement about the BTC supply. Some people expressed that they could not believe Dimon actually made the above statement while others posted the code for the JPMorgan executive to see. Coinbase CEO Brian Armstrong simply tweeted: “Yes, I read it. And then I wrote it (coding up our own Bitcoin node) to make sure I understand it.” Galaxy Digital CEO Mike Novogratz commented: “So strange. For a man who has done a brilliant job running a giant bank, his answers around BTC are sophomoric and he keeps doubling down on them. I pray I stay open-minded my whole life.” Shapeshift founder Erik Voorhees wrote, “Never attribute to malice that which is adequately explained by stupidity.” Venture investor Stephen Cole opined, “Even the richest, most influential people in the world are clueless on Bitcoin.” What do you think about Jamie Dimon’s comments about bitcoin? Let us know in the comments section below. View the full article

The Bank of England says that crypto assets pose “limited” direct risks to the stability of the country’s financial system. “Cryptoasset and associated markets and services continue to grow and to develop rapidly. Such assets are becoming increasingly integrated into the financial system,” the U.K.’s central bank described. Crypto Poses Limited Risks to UK’s Financial Stability The Bank of England’s Financial Policy Committee (FPC) published the October edition of the “Financial Stability in Focus” report Friday. The Financial Policy Committee has 13 members, six of whom are Bank of England staff, including the governor and four deputy governors. The FPC “identifies, monitors and takes action to remove or reduce systemic risks with a view to protecting and enhancing the resilience of the U.K. financial system,” the central bank described. The committee wrote: Cryptoasset and associated markets and services continue to grow and to develop rapidly. Such assets are becoming increasingly integrated into the financial system. The FPC judges that direct risks to the stability of the UK financial system from cryptoassets are currently limited. “However, regulatory and law enforcement frameworks, both domestically and at a global level, need to keep pace with developments in these fast-growing markets in order to manage risks and to maintain broader trust and integrity in the financial system,” the committee added. The committee further noted that it “will continue to pay close attention to developments, including the relationship between cryptoassets and the U.K. financial system, and thereby seek to ensure resilience to systemic risks that may arise from further developments in cryptoasset markets,” concluding: The FPC considers that financial institutions should take a cautious and prudent approach to any adoption of these assets. Early this month, the International Monetary Fund (IMF) warned that the rising popularity of cryptocurrencies posed new challenges to financial stability, stating that it could “reduce the ability of central banks to effectively implement monetary policy” and “create financial stability risks.” In July, Bank of England Deputy Governor Jon Cunliffe said that cryptocurrencies were not big enough to pose financial stability risk. “They’re not of the size that they would cause financial stability risk, and they’re not connected deeply into the standing financial system,” said the deputy governor. What do you think about the Bank of England’s comments about crypto assets? Let us know in the comments section below. View the full article

On Monday, FTX US announced the launch of its marketplace for non-fungible token (NFT) assets. FTX explained that the marketplace will feature Solana-based NFTs but support for Ethereum-based NFTs is coming in the near future. FTX US Reveals New Solana NFT Market, Plans to Support Ethereum in the Near Future West Realm Shires Services Inc., the parent company of FTX US, revealed on Monday that the U.S.-based regulated cryptocurrency exchange has launched the FTX NFTs Marketplace. The market will give FTX US users the ability to mint NFTs, as well as transfer the digital collectibles. The announcement published on October 11, indicates that the market will initially host Solana (SOL) minted non-fungible token (NFT) assets. “In the near future,” FTX NFTs plans to implement Ethereum support as well. Brett Harrison, the president of FTX US explained during the announcement that the company has already become “immersed in the NFT ecosystem.” “In learning about so many of these projects, we’ve come to a comprehensive understanding of the needs of creators and collectors in the space,” Harrison said in a statement. “With the launch of this platform, we hope to provide both US and global users with a regulated marketplace that is intuitive and responsive to their needs.” FTX Joins a Slew of Competitor NFT Marketplaces Raking in Billions, Exchange to Support all Solana NFTs That Conform to the Metaplex Standard FTX NFTs Marketplace will indeed have a large quantity of NFT markets to compete with like Opensea, Rarible, Makersplace, Nifty Gateway, the Wax Atomicmarket, Aavegotchi, Foundation, Superrare.co, Hic et nunc, and more. Opensea by itself is nearing the $10 billion mark in terms of sales as the NFT market which supports both Ethereum and Polygon has captured $8.58 billion in all-time sales. While most of these markets do support Ethereum, some of them leverage Polygon, Tezos, Wax, BSC, and Flow. FTX US planning to tap into the Solana ecosystem may give the market some initial advantages by separating itself. The company detailed that it plans to work “directly with Solana project creators to ensure authenticity verification” and highlighted that bids or listings can be done with a variety of assets including USD, SOL or ETH. “All Solana NFTs that conform to the Metaplex standard will be supported on the FTX US platform,” the firm’s announcement further explains. Harrison and FTX US believe that the non-fungible token (NFT) collectible industry has gained access into our everyday lives. “The NFT ecosystem has started to infiltrate pop culture, but has been lacking a platform that provides easy access and exposure to the mainstream audience,” Harrison’s statement concluded. What do you think about FTX US launching an NFT marketplace that supports Solana-based NFTs? Let us know what you think about this subject in the comments section below. View the full article

Flurry Finance is announcing an exciting development in the world of DeFi, as the successful launch of the rhoToken marks a next level evolution in yield aggregation! Users are now able to freely earn, trade, and spend deposit tokens while farming without restrictions or lockup periods. The future of yield farming has arrived! The Debut of the rhoToken rhoTokens are pegged to stablecoins on a 1:1 basis and support 3 kinds of stablecoin deposits. Users can now use the Flurry Finance DApp to convert USDT, USDC, and BUSD stablecoins into the corresponding rhoTokens of rhoUSDT, rhoUSDC, and rhoBUSD in order to earn passive income through the Flurry Protocol’s yield aggregator without the usual hassle, complications, and high gas fees associated with lending tokens to different DeFi lending protocols and exchanges directly. To fully explain this momentous occasion, it’s important to know how the rhoToken differs from other yield farming deposit tokens. At its most basic form, the rhoToken is a deposit token that operates on the basis of a pegged value and elastic supply. This means that while earning yield, the number of rhoTokens in a user’s wallet changes, with freshly earned rhoTokens rebased into users’ wallets at 8:00am UTC everyday. This differs from most traditional yield farming deposit tokens, whose values change while earning yield, and are therefore subject to lockup periods where they cannot be exchanged, spent or redeemed. Since the rhoToken’s base value is pegged and has no lock up period, it can do all of these things at any time! Beyond the great usability it offers users, the rhoToken is also flexible in that it supports cross-chain functionality. The debut launch of rhoTokens will be deployed on Binance Smart Chain. Going forward, the rhoToken will soon be available on Ethereum blockchain, MATIC (Polygon) and newer generation of blockchain networks for more yield options available in DeFi space! The Flurry Protocol automatically monitors cross-chain conditions to assess and identify the best yields possible across all networks. To exchange for your rhoTokens and to earn passive hassle free yield, check out the Flurry Finance DApp. The Road to rhoToken Flurry Finance set out to create the future of yield farming by breaking down user barriers in the DeFi space, with the ultimate goal of helping spur on mass adoption. To this end, in July 2021, Flurry Finance raised $3 million in seed round including AU21 Capital, Genblock Capital, CoinUnited.io, One Block, Soul Capital, and Dutch Crypto Investors, in order to scale the Flurry Protocol Yield Aggregator. One month later in August 2021, Flurry Finance formed a partnership with Polygon to scale up cross-chain yield farming functionalities. Ultimately the partnership helps the Flurry Protocol solve the issue of yield farming fragmentation across siloed networks, and greatly reduces fees involved at the same time. In the same month, Flurry Finance began working with Kyber Network in order to further optimize cross-chain yield farming by making use of Kyber’s Market Maker – KyberDMM, which offers ample liquidity at low slippage rates and transaction costs. Then on September 6, 2021, Flurry Finance launched an IDO for the $FLURRY Governance Token. The public sale was greatly received, and $FLURRY is now trading on Uniswap, Pancakeswap, & Gate Exchange. Now, as of October 11, 2021, rhoTokens are available for exchange on the Flurry Finance DApp. About Flurry Finance Flurry Finance was launched to make the DeFi user experience as convenient as possible and improve the usability of DeFi products. Flurry issues rhoTokens that are pegged 1:1 to their underlying stablecoin. rhoTokens are cross-chain interoperable, stable, flexible, and generate profits for users. The Flurry protocol is designed to work across chains and present the optimal fee-adjusted returns for users, automating the tedious task of switching in and out of DeFi products on different chains. Website: https://flurry.finance Telegram: https://t.me/FLURRYFinance_Official Telegram News Channel: https://t.me/FLURRYFinance_News Twitter: https://twitter.com/FLURRYFi Medium:https://medium.com/flurry-finance Alison Cheng marketing@flurry.finance This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. Listen to the latest Bitcoin.com Podcast: View the full article

The Polish central bank, the National Bank of Poland (NBP), is reportedly planning to raise its gold reserves by 100 tons in 2022. According to bank governor Adam Glapinski, the objective of this decision is to prepare Poland for “the most unfavourable circumstances.” Gold’s Safe Haven Status In his remarks during an interview with the Gazeta Wroclawska newspaper, Glapinski explained why the NBP has chosen to increase its gold holdings. He said: Why does the central bank own gold? Because gold will retain its value even when someone cuts off the power to the global financial system. Glapinski adds that while the central bank is not assuming this will happen, it is still required to be prepared for such a scenario. The report also quotes the governor explaining why gold’s reputation (as an asset that increases in value during times of increased risk and financial and political crises) is such an important attribute for the NBP. Gold as Hedge Against Dollar Fluctuations Finally, according to the governor, gold is also seen as a good hedge against U.S. dollar fluctuations. Glapinski explained: “Gold is characterized by a relatively low correlation with the main asset classes – especially the U.S. dollar dominating the NBP reserve portfolio – which means that including gold in the reserves reduces the financial risk in the process of investing in them.” Meanwhile, the report reveals that the NBP is planning to acquire the gold in mid-2022 when Glapinski expects to be re-elected as governor. Do you agree that the inclusion of gold in a reserve portfolio will reduce financial risk for the Polish central bank? View the full article

Nayib Bukele, president of El Salvador, announced yesterday he will start using surplus funds from the country’s bitcoin trust. Part of the $4 million excedent will be invested in a vet hospital that will offer different services for the pets of Salvadoran citizens. Bukele explained this is possible due to the bitcoin price increase in the last few days. Nayib Bukele Proposes Construction of Vet Hospital Nayib Bukele, president of El Salvador, announced yesterday the construction of a veterinary clinic with funds coming from the country’s recently created bitcoin trust. According to his statements, $4 million can be withdrawn from Fidebitcoin, the national bitcoin trust, due to the latest price increase BTC has experienced. Bukele explained on Twitter: With the same amount of dollars and bitcoin in the trust, the trust is now worth more as the bitcoin went up in value. So now, FIDEBITCOIN has a ‘surplus’ of $4 million. Therefore, the state company Chivo can dispose of 4 million dollars, without affecting the amount of the trust. Bukele then went on to announce the vet clinic would feature 12 offices, four emergency attention rooms, four operating rooms, and a rehabilitation area for Salvadoran pets. The facility will be able to attend to more than 384 pets each day. Inbound Criticism The president has been widely criticized for the way in which he handles public funds. With this project, critics of the president quickly pointed to problems, calling for an audit in the balances of the funds and stating these couldn’t be used for funding civil expenditures. However, Bukele was quick to explain the fund was not selling Bitcoin to fund these expenses. The president stated: By the way, we’re not selling any bitcoin, we are using the dollar part of the trust, since the bitcoin part is now worth more than when the trust was established. Bukele also took a swipe from Vitalik Buterin, co-founder of Ethereum, who criticized his push to declare bitcoin legal tender on Reddit. Buterin stated that Bukele’s action of pushing bitcoin on a population not adequately educated to use it was “reckless” and has “risks.” Buterin extended this criticism to other actors in the crypto industry by stating: Shame on everyone (ok, fine, I’ll call out the main people responsible: shame on Bitcoin maximalists) who are uncritically praising him. What do you think about Bukele’s idea of constructing a vet clinic with the bitcoin fund surplus? Tell us in the comments section below. View the full article

Travelers will be able to purchase airline tickets in Venezuela using cryptocurrencies in the near future. According to statements made by Freddy Borges, Director of the Maiquetía International Airport, the institution would be working to include cryptocurrencies such as dash, bitcoin, and the national petro as supported currencies in the airport’s payment system. Airport to Receive Crypto as Payment In Venezuela The adoption of cryptocurrency as a way of paying for airline tickets in Venezuela might be near. According to statements made by Freddy Borges, who is the director of the Maiquetía International Airport, the institution is working to adapt its payment system to receive some cryptocurrencies as payment for airline tickets and other services offered in the airport. In this sense, Borges stated: “We will activate a button for cryptocurrency payments in the airport platforms and commercial activities, in coordination with Sunacrip.” Among the mentioned cryptocurrencies that would be supported, the officer mentioned bitcoin, dash, and the national petro. Borges highlighted the importance of establishing these payment methods to facilitate the purchases of tourists that might come to the country in the future. He told that the airport must advance in the implementation of these new tools that the tourists might use. The use of these cryptocurrencies as payment methods will be regulated by Sunacrip, the national cryptocurrency watchdog. The Maiquetia International Airport is one of the most important civil airports in the country, receiving passengers from 17 different international destinations. Not the First Time This is not the first time that cryptocurrencies are mentioned as possible payment methods for airline tickets in Venezuela. A national airline called Conviasa announced it would start selling tickets in Petros back in 2019. At that time, Joselit Ramirez, the national cryptocurrency superintendent stated these operations would confirm in less than two minutes. Then, Turpial Airlines, another national airline, announced it would be accepting payment in bitcoin for tickets last August. The small airline, that operates with three Boeing planes, was one of the pioneering private airlines in announcing support for cryptocurrency payments. This announcement seems the result of what Nicolas Maduro, the president of the country, stated in January, when he stressed this would be the year for the “revival” of all cryptocurrency systems. However, inflation and devaluation have not stopped this year. On October 1, the Venezuelan government applied a redenomination of the fiat currency, slashing six zeros of its value to facilitate payments. What do you think about Venezuelans being able to purchase airline tickets with cryptocurrency? Tell us in the comments section below. View the full article

Mining hardware manufacturer Bitmain will no longer ship its products to mainland China. The move is in response to local regulations, the company explained. The announcement follows a prolonged crackdown on crypto mining operations in the country and a recently reiterated wide ban on activities related to cryptocurrencies. Bitmain Stops Mining Rig Deliveries to Mainland China Referring to its commitment to abide by law and regulations in the jurisdictions where its entities operate, mining equipment producer Bitmain announced it terminates deliveries to the People’s Republic of China. In a statement published on Sunday, Bitmain said: From October 11, 2021, Antminer will stop shipping to mainland China. The company noted that “for customers in mainland China who have purchased long-term products, our staff will contact them to provide alternative solutions.” It did not share further details about the arrangements. Bitmain emphasized that the decision for the Chinese market does not concern the special administrative region of Hong Kong and neighboring Taiwan. Beijing-based Bitmain also pointed out that the change in its shipping policy will not affect customers in other overseas markets. The hardware manufacturer stated that in the current situation with the Covid-19 pandemic, its supply chain team is working hard to ensure deliveries to customers around the world. Bitmain also revealed that it’s taking steps in response to China’s government policy of carbon-neutrality. It stressed that it explores a new technological path for computer energy saving and will continue to work to reduce the energy consumption of its core chips, “guide customers to use clean energy, and contribute our strength to the green and sustainable development of mankind.” China introduced a ban on crypto trading in 2017 but authorities did not directly interfere with cryptocurrency mining until earlier this year. In May, the State Council, the cabinet of ministers, announced a crackdown on crypto-related activities following President Xi Jinping’s pledge that the country will achieve carbon neutrality in the next four decades. In September, the People’s Bank of China reiterated its hardline position on cryptocurrencies making it clear that decentralized digital money has no place in the country. This week, China’s National Development and Reform Commission and the Ministry of Commerce proposed to add crypto mining to the country’s latest “Negative List for Market Access,” a move that will make the industry off-limits to investors. Do you think Chinese policies regarding cryptocurrency mining can change as mining hardware becomes more energy efficient? View the full article

New Bybit users can get up to $600 in welcome rewards upon completing simple tasks and hitting trading milestones after signing up. The rewards include an exclusive $50 coupon when a new user makes a first time deposit of at least 0.05 BTC or equivalent within 48 hours of joining the cryptocurrency exchange. If they miss the 48-hour mark, they will still be rewarded with a $20 coupon for making a deposit. In addition, new users who follow any of Bybit’s social media accounts within 14 days of joining Bybit will be rewarded with a $5 coupon immediately, which can be used to offset trading fees. For every trading milestone reached, be it big or small, new users will be able to stack bonus rewards. Those who successfully refer a friend to Bybit will also receive a $20 bonus (their referee will also receive a $20 bonus). These users will be guaranteed additional rewards each time their friend hits a trading volume milestone, including a chance to win a $500 bonus. Here are more reasons why all crypto traders should consider joining the Bybit community: Smart trading system: Set up take profit/stop loss at entry, receive strategy alerts and adjust your order(s) with one click. Bybit’s powerful API also ensures that you get lightning-fast market updates. No server downtimes: Bybit prides itself on a 99.99% system functionality and no server downtimes, thanks to its grey release feature and hot patches released on-the-fly. Unparalleled customer service: Another key feature of Bybit that sets it apart from its competitors is how seriously it takes customer service and feedback. It boasts 24/7 multilingual customer service to support traders from around the world. Sign up for a new Bybit account here. About Bybit Established in March 2018, Bybit is one of the fastest growing cryptocurrency exchanges, with more than two million registered users. Built on customer-centric values, Bybit endeavors to provide a professional, smart, intuitive and innovative online trading and cloud mining experience for retail and institutional clients around the world. Bybit is committed to creating a fair, transparent and efficient exchange environment, and offers 24/7 multilingual customer support to provide assistance in a timely manner. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. Listen to the latest Bitcoin.com Podcast: View the full article

55 days from now will be the hundred-year anniversary of when the American industrialist and business magnate Henry Ford talked about a unique “energy currency” that could “stop wars.” The well known founder of the Ford Motor Company suggested that a currency could be backed by energy in kilowatt-hours (kWh) in a similar fashion to the way energy is leveraged to mine bitcoin. New York Tribune, December 4, 1921: ‘Ford Would Replace Gold With Energy Currency and Stop Wars’ Close to 100 years ago on December 4, 1921, Henry Ford discussed an idea he conceived in the New York Tribune. The title of the published article was called “Ford Would Replace Gold With Energy Currency and Stop Wars.” Ford is well known for developing the assembly line technique and creating one of the first mass-produced American-built automobiles. Ford’s energy currency concept describes a digital currency much like Satoshi Nakamoto’s Bitcoin and one that is also scarce. Not only would Ford’s energy currency be backed by energy measured in kilowatt-hours (kWh) he also discussed with the Tribune that the currency would “be issued only to a certain definite amount and for a specific purpose.” It has always been understood that Henry Ford was well ahead of his time, but he also thought about a concept that is very similar to what’s described in the Bitcoin white paper. Ford even had a location planned to kick start the idea at Muscle Shoals Dam. The treacherous and wild Muscle Shoals section of the Tennessee River produces a lot of energy as the dam provides electrical power, flood control, and a water supply. Ford even took shots at the banking cartel in 1921, which are basically the same financial institutions and family members running the world’s finances today. “It’s simply a case of thinking and calculating in terms different from those laid down to us by the international banking group to which we have grown so accustomed that we think there is no other desirable standard,” Ford stressed. While the cypherpunks like Timothy May and Eric Hughes wrote about concepts that looked closer to today’s cryptocurrency, many others had visions similar to Henry Ford’s energy currency concept. The Nobel laureate and Austrian economist Friedrick Hayek discussed the idea of a free market currency. “I don’t believe we shall ever have good money again before we take the thing out of the hands of [the] government,” Hayek stressed. “That is, we can’t take it violently out of the hands of [the] government, all we can do is by some sly roundabout way [to] introduce something that they can’t stop.” In addition to Hayek, Milton Friedman discussed the idea of a cryptocurrency in 1999. “I think that the Internet is going to be one of the major forces for reducing the role of government,” Friedman said during his interview that went viral in 2014. “The one thing that’s missing, but that will soon be developed, is a reliable e-cash, a method whereby on the Internet you can transfer funds from A to B, without A knowing B or B knowing A,” the economist added. Henry Ford: ‘It Would Mean Changes in World Finance — Bankers Always Oppose Changes’ Ford’s energy currency editorial in the New York Tribune not only takes aim at the bankers but blames gold as well. “It’s very simple when you analyze it,” Ford emphasized. “The cause of all wars is gold. We shall demonstrate to the world two things, first, the practicability, second, the desirability of displacing gold as the basis of currency and substituting in its place the world’s imperishable natural wealth.” Ford continued: Almost everybody in the world, except the newspapers and bankers recognizes that civilization has entered on a new era. The newspapers don’t see it and the international bankers don’t want to see it — It would mean changes in world finance and bankers always oppose changes. It could be said that the trend in America has already entered a realm of digital currency which is done mostly by the banking system’s databases. In many respects, Ford got his way because the powers that be essentially replaced gold with unbacked fiat. However, fiat is a far cry from a scarce and energy-backed currency Ford dreamt up long ago. The banking cartel moving off the gold standard has pushed a “desirability of displacing gold” from both sides of the spectrum. Decentralized crypto assets like bitcoin (BTC) are indeed displacing gold even if the measurement of displacement is still quite small. These days people use cryptocurrencies as a hedge against fiat and the central banks’ massive monetary expansions just like precious metal (PM) collectors and ‘gold bugs.’ In this line of thinking there is also a “desirability of displacing gold” forming among the masses as digital currencies offer benefits that PMs like gold cannot provide. According to assetdash.com bitcoin (BTC) is the sixth top asset by market cap. The web portal companiesmarketcap.com says bitcoin (BTC) is positioned in the eighth spot. The top position held by Gold is an $11.161 trillion market valuation, while BTC’s is roughly $1.041 trillion, according to the website’s metrics. Gold’s valuation is 972% larger than BTC’s as the crypto asset has a long way to go to catch up if it wants to displace gold. What do you think about Henry Ford predicting a currency similar to bitcoin close to 100 years ago? Let us know what you think about this subject in the comments section below. View the full article

By the end of next year, at least five countries will have accepted bitcoin as legal tender, the CEO of cryptocurrency exchange Bitmex has predicted. He cited three key reasons why he arrived at this conclusion. “Developing countries will jump into crypto in 2022,” he said. More Countries Will Adopt Bitcoin as Legal Tender The CEO of cryptocurrency exchange Bitmex, Alex Hoeptner, has predicted that developing countries will lead the way in bitcoin adoption. He detailed last week: My prediction is that by the end of next year, we’ll have at least five countries that accept bitcoin as legal tender. All of them will be developing countries. Here’s why I think developing countries will jump into crypto in 2022. The CEO offered three main factors driving the adoption of bitcoin in developing countries and why he came up with this prediction. The first is remittances. Remittances made up 23% of El Salvador’s GDP in 2020, Hoeptner described. Citing data from the World Bank, he added that low and middle-income countries receive about 75% of total global remittances and $540 billion in remittances reached low and middle income countries in 2020. “This money has got to find a way home somehow,” he said. “But the current system of remittances – led by money service providers like Western Union – is ripping people off by charging them an average of 10% just to send money home the next business day.” The second factor is inflation. The International Monetary Fund (IMF) forecasts inflation for developed countries in 2021 at 2.4% and 5.4% for developing countries. He explained that people seek alternatives to fiat currencies during inflation crises. For example, he said: “As inflation climbed well above 15% this year in Turkey, crypto adoption surged. Turkey responded by quickly banning the use of crypto for goods and services, but inflation is now at 19.25%.” Hoeptner noted: Bitcoin fixes this, with its capped supply of 21 million. And developed countries – and/or their people – are noticing. The third factor is politics. He explained that many politicians or rulers “are skilled and savvy, and have an interest in positioning themselves as progressive, populist, and new age thinkers.” He opined, “Over the next year, and as El Salvador works out the kinks in its rollout, savvy politicians will be thinking of how they can take a similar path, and how it might benefit both them and their constituents,” elaborating: What El Salvador did is take the first leap of faith, making similar moves by other countries much easier to consider. However, the CEO cautioned: “Any failings by these leaders in the implementation phase may hurt wider adoption of cryptocurrencies in general. That’s the dangerous dilemma that lies ahead.” Do you agree with Bitmex’s CEO? Let us know in the comments section below. View the full article

Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, thinks the dogecoin rival shiba inu token (SHIB) is “pointless,” criticizing its supply. The cryptocurrency skyrocketed 230% over the past week. Michael Burry Shares His View on Shiba Inu Token Famous investor and founder of private investment firm Scion Asset Management, Michael Burry, commented on the shiba inu token (SHIB) Saturday after the dogecoin rival cryptocurrency surged 230% over the past week. Burry is best known for being the first investor to foresee and profit from the U.S. subprime mortgage crisis that occurred between 2007 and 2010. He is profiled in “The Big Short,” a book by Michael Lewis about the mortgage crisis, which was made into a movie starring Christian Bale. The Big Short investor shared Coinbase’s description of the shiba inu token on Twitter Saturday, which states: “Shiba inu (SHIB) is a token that aspires to be an Ethereum-based alternative to dogecoin (DOGE), the popular meme coin. Unlike bitcoin, which is designed to be scarce, SHIB is intentionally abundant — with a circulating supply of one quadrillion.” Commenting on this description, Burry wrote: Just saying, one quadrillion seconds is about 32 million years. One quadrillion days is 2.7 trillion years, or all of time, from the beginning of the universe, multiplied by 71,000. In other words, pointless. However, several people quickly pointed out to Burry on Twitter that the circulating supply of SHIB is no longer one quadrillion. Coinbase’s market data shows that the circulating supply of the shiba inu token is currently 394.8 trillion coins. The Shiba Token website explains: “Starting with a supply of 1 quadrillion, our founder, Ryoshi, locked 50% in Uniswap, then ‘burned‘ the other half to Ethereum co-founder Vitalik Buterin for safekeeping.” The Shiba inu token made its way into the limelight when Buterin donated $1 billion worth of SHIB to India’s crypto covid relief fund. At the time of writing, SHIB is up 235% over the past week and 6.76% over the past 24 hours, according to Coinbase’s data. The cryptocurrency is trading at $0.00002649 and its market cap is $10.3 billion. Coinbase Pro announced the listing of shiba inu crypto in June. In September, the Nasdaq-listed crypto exchange announced that SHIB was available on Coinbase.com and in the Coinbase Android and iOS apps. Burry has been warning about investing in cryptocurrencies. In June, he predicted the “mother of all crashes,” noting that “The problem with crypto, as in most things, is the leverage.” The Big Short investor also cautioned that governments could squash competitors in the currency arena, including bitcoin. However, he clarified, “I don’t hate BTC,” emphasizing that he is “not short BTC” because “In the short run anything is possible.” What do you think about Michael Burry’s comments? Let us know in the comments section below. View the full article

A commissioner with the U.S. Securities and Exchange Commission (SEC) says that true decentralized projects pose a challenge to crypto regulation. Noting that “decentralized finance carries within itself inherently some ability to self regulate,” the commissioner said, “we need to take that into account as we design a regulatory system.” SEC Commissioner Peirce Discusses Crypto Regulation and Decentralized Finance SEC Commissioner Hester Peirce talked about cryptocurrency regulation in an interview with Yahoo Finance, published last week. Peirce is also known in the crypto community as “crypto mom” for her knowledge and support of the crypto space. She was asked about whether the SEC has any trouble catching up with developments in the crypto space and protocols which are advancing and changing very quickly on a daily basis. “There is certainly difficulty on the part of a regulator to stay on top of developments in defi [decentralized finance] and crypto more generally,” Peirce admitted. However, she noted: People shouldn’t assume that the SEC can only focus on one thing. The SEC has a lot of resources and can go after a lot of things simultaneously. “So, be aware of that, and you need to be thinking about whether the securities laws apply to what you’re doing and consulting with lawyers when necessary,” she recommended. The commissioner added: “The decentralized world is one that is very new to us because we are used to dealing with large, usually large, centralized intermediaries. So true decentralized projects do pose a challenge.” Peirce warned: I think what I would caution people to be aware of is that sometimes something claims to be decentralized and isn’t, and there is actually a centralized entity, and I think certainly regulators will be looking to that centralized entity. SEC Chairman Gary Gensler also similarly said that many platforms claiming to be decentralized were actually centralized. He told Senator Elizabeth Warren in September that many platforms “are only decentralized in name only,” citing that “There is a user agreement.” In addition, he said many tokens listed on cryptocurrency exchanges are actually securities, telling Congress that they needed more regulation. Peirce further explained: Decentralized finance carries within itself inherently some ability to self regulate. And I think we need to take that into account as we design a regulatory system. Commenting on cryptocurrency regulation, the commissioner said, “It is disconcerting to me that for three years now I’ve been asking for regulatory clarity and we can’t seem to provide any.” She added: “I think this is really becoming a huge barrier to this industry being able to develop in the way that’s safe but also in a way that allows innovation to happen. And it’s a real shame to me that we are not just taking up the mantle as regulators to develop a regulatory framework.” What do you think about the comments by SEC Commissioner Hester Peirce? Let us know in the comments section below. View the full article

PRESS RELEASE. HONG KONG – 10th October 2021 – Refinable, a leading decentralized NFT marketplace, is taking a step forward in realizing advanced use cases for NFT applications. In a keystone partnership with high-end jewelry maker NALAS, and the support of Sotheby’s, Refinable will be the first marketplace to provide item authentication with NFTs for the high-value jewelry piece known as “Shining Stars”. Valued at upwards of $300,000 HKD, “Shining Stars” is studded with over 200 diamonds to reconstruct the star-filled nights seen throughout Vincent Van Gogh’s artwork. Online review and bidding of the auction of “Shining Star” will start in Sotheby’s “Magnificent Jewels: Part II” from 5 October until 28 October. The successful bidder will receive a proof of purchase and proof of authenticity in the form of a digital NFT from Dias Group Limited. Leveraging the Ethereum blockchain, all associated information about the sale will be stored publicly and be available for anyone to view on the Refinable marketplace. This marks a landmark moment for the NFT industry as more progressive brands are looking to apply NFT identification technology to complement existing business models. Auction houses including Sotheby’s and Christie’s are also actively exploring the space to further their portfolio of items to bring to market. As well as, participating in digital art festivals to promote NFT awareness amongst contemporary collectors. As the official NFT partner of Hong Kong’s first digital art festival – Digital Art Fair Asia 2021, Refinable, alongside event partners such as Sotheby’s, Samsung, TIME, Genesis Block, BlockFi, and more, showcased over 30 global artists across digital and NFT art. For inquiries, get in touch with Refinable here. About Refinable Refinable is the definitive solution to create, discover, trade, and leverage NFTs. The marketplace provides an accessible environment, for any user, brand, or community, by offering multi-chain flexibility, low-cost alternatives, and high-performance options to engage with NFT content. Beyond the marketplace, Refinable also offers custom solutions for brands and projects looking for new engagement opportunities. Contact Refinable for more information. Contact Refinable Website: https://refinable.com Telegram: https://t.me/refinablenft Telegram ANN: https://t.me/RefinableANN Twitter: https://twitter.com/refinableapp Instagram: https://instagram.com/refinableapp Youtube: https://www.youtube.com/c/Refinable Media contact: media@refinable.com 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

In preparation to regulate its fintech space, the government of Sri Lanka has established a special committee tasked to formulate the country’s policy on digital banking and crypto-related activities. The committee comprises professionals from the public and private sectors. New Committee to Propose Rules for Blockchain Industry in Sri Lanka Sri Lankan authorities have unveiled the composition of а newly established committee of experts gathered to formulate the nation’s policy in three key areas related to cryptocurrencies, the local Daily Mirror reported on Saturday. The members are expected to present regulations for entities operating in the digital banking, blockchain, and cryptocurrency mining industries. According to an announcement by the Government Information Department, the professionals involved in the project are Viraj Dayaratne, chairman of the Securities and Exchange Commission of Sri Lanka, Rajeeva Bandaranaike, CEO of the Colombo Stock Exchange, and Dharmasri Kumarathunge, director of payments and settlements at the Central Bank of Sri Lanka. The team also includes Jayantha Fernando, chairman of the Sri Lankan Data Protection Law Drafting Committee, Sandun Hapugoda, director of Mastercard Sri Lanka, T.G.J. Amarasena, who is the chief executive of the Sri Lanka Computer Emergency Readiness Team, and political activist Milinda Rajapaksha. Sujeewa Mudalige, managing partner of PwC Sri Lanka, will chair the committee. The experts, representing both government institutions and private companies, will help Sri Lanka to draft laws, rules, and regulations that will allow the country to attract investments into the digital banking and blockchain technology sectors as well as to create conditions for crypto mining enterprises in the country. The information department elaborated: The necessity of developing a system that integrates digital banking, blockchain technology and cryptocurrency mining and other essential services has been identified to facilitate the creation of a digital business environment. According to the report, Digital Technology and Enterprise Development State Minister Namal Rajapakse has played a leading role in setting up the committee. Rajapakse, who is also responsible for development projects’ coordination and monitoring, sought the approval of the Cabinet of Ministers to appoint the body’s members. The upcoming regulations will allow the Sri Lankan Board of Investment to take the necessary steps to facilitate the said crypto industry investments. The move comes despite the Central Bank of Sri Lanka (CBSL) maintaining a cautious approach towards cryptocurrencies. In April, the monetary authority issued a notice warning about the associated risks as crypto investing and trading spiked around the world and in the South Asian nation. Do you think the Sri Lankan government will create a business-friendly environment for crypto companies in the country? Tell us in the comments section below. View the full article

On October 9, whistleblower and privacy advocate Edward Snowden published an opinion editorial concerning central bank digital currencies (CBDCs) and claimed CBDCs are “the newest danger cresting the public horizon.” Snowden stressed that rather than being an innovation, CBDC’s are “closer to being a perversion of cryptocurrency” and a “cryptofascist currency.” Snowden Stresses CBDCs ‘Are Expressly Designed to Deny Its Users the Basic Ownership of Their Money’ While politicians and the modern banking cartel have been all about central bank digital currencies, a great number of critics believe they are no different than centralized databases. On Saturday, the former Central Intelligence Agency (CIA) and National Security Agency (NSA) subcontractor, Edward Snowden, published an article describing what he thinks CBDCs will bring to society. Snowden is a fan of decentralized crypto assets like bitcoin, ethereum, and zcash. However, when it comes to CBDCs the whistleblower is concerned about adopting the technology. “I will tell you what a CBDC is NOT — it is NOT, as Wikipedia might tell you, a digital dollar,” Snowden emphasizes in his article. “After all, most dollars are already digital, existing not as something folded in your wallet, but as an entry in a bank’s database, faithfully requested and rendered beneath the glass of your phone. Neither is a Central Bank Digital Currency a State-level embrace of cryptocurrency — at least not of cryptocurrency as pretty much everyone in the world who uses it currently understands it,” the whistleblower said. Snowden added: Instead, a CBDC is something closer to being a perversion of cryptocurrency, or at least of the founding principles and protocols of cryptocurrency—a cryptofascist currency, an evil twin entered into the ledgers on Opposite Day, expressly designed to deny its users the basic ownership of their money and to install the State at the mediating center of every transaction. Snowden concludes by explaining that people earn a living via their labor and it could be enough to retire or “if not, can he ever hope to rely on the State’s benevolent, or even adequate, provision — for his welfare, his care, his healing?” Snowden says he’d like to ask members of the Fed, the Treasury, and the U.S. government whether or not money should be centralized by the state. ”Of all the things that might be centralized and nationalized in this poor man’s life, should it really be his money?” Snowden asks in his article’s conclusion. Eddie Hobbs Claims ‘Your Savings Are Collateral Damage in the New Rules of the Game’ The future of this corrupt monetary system can be seen from a mile away, and in another recently published opinion editorial, financial advisor and writer Eddie Hobbs explains: “Your savings are collateral damage in the new rules of the game.” Hobbs stresses that the surge in excess global debt cannot be helped, except by suppressing benchmark interest rates for a decade or more. “Central Banks know this, that letting loose inflation is the only way out, while governments jack up borrowing to world war levels hoping to reignite growth faster than the debt piles up,” the financial writer detailed. “The ECB intends to ride shotgun, letting time and inflation erode the real value of outstanding debt while they play their part by crushing rates into negative territory.” Hobbs adds: Savings are collateral damage in the new rules of the game. Irish Banks are charging up to -0.65% to hold cash. So far, it has sharply curtailed Credit Union’s capacity to take in cash and is hurting corporate deposits, trusts, and charities, but it is coming your way next year once it seeps down from seven-figure consumer deposits. You can ignore bank propaganda to the contrary. What do you think about Edward Snowden’s opinion of CBDCs and Eddie Hobbs explaining that savings are collateral damage in the new rules of the game? Let us know what you think about this subject in the comments section below. View the full article

U.S. Senator Cynthia Lummis has disclosed her bitcoin purchase worth between $50K and $100K. The senator from Wyoming sees bitcoin as an “excellent store of value” that should be in every investment portfolio. Senator Lummis Buys Bitcoin The pro-bitcoin senator from Wyoming, Cynthia Lummis, disclosed her recent bitcoin purchase in a periodic transaction report (PTR) Thursday. According to the filing, the senator bought BTC worth between $50,001 and $100,000 on Aug. 16. The price of bitcoin was around $45K at that time. The disclosure was made outside of the 45-day reporting deadline set by the Stop Trading on Congressional Knowledge (STOCK) Act. The Act requires members of Congress to disclose every purchase and sale of individual stocks, bonds, and commodity futures valued over $1,000 within 45 days of the transaction. A spokesperson at Senator Lummis’ office told CNBC that the disclosure delay was due to “a filing error,” stating: Once we realized it we worked with the Ethics committee to fix it. It was an honest mistake, and the issue has been resolved without penalty. Lummis’ bitcoin purchase in August followed her indicating at the end of June that she was going to buy the dip as the price of bitcoin fell below $30K. Commenting on the falling BTC price, she said, “I’m really excited about it because as soon as it drops a little more I’m going to buy some more.” Senator Lummis is a longtime bitcoin supporter. She previously said that she bought her first BTC in 2013 for $330 and owned five bitcoins as of the end of June. “I really see it as a great store of value for individuals, for corporations, and for governments,” she commented about bitcoin in February, stating: I still think it is an excellent store of value and that it should be part of every individual person’s investment portfolio. What do you think about Senator Lummis buying more bitcoin? Let us know in the comments section below. View the full article

Non-fungible token (NFT) assets have been extremely popular in 2021 and it doesn’t seem like the NFT hype is going away any time soon. A number of NFT collections have propelled the industry to new heights with enormous sales, outpacing some of the most popular auctions selling physical items. One specific NFT project called Bored Ape Yacht Club (BAYC) has seen $542 million in lifetime sales between 8,749 traders. Moreover, on Friday, the official BAYC Twitter account announced the project plans to launch a token in the first quarter of next year. Bored Ape Yacht Club NFT Collection Captures $542 Million in Lifetime Sales There’s definitely been a few artists that have made millions of dollars selling single NFTs to buyers willing to pay for the cryptographic-backed collectibles. For instance, Beeple is well known for his NFT work, and one of his pieces sold for $69 million at Christie’s. Then there are the NFT collections that have also fueled the NFT craze like Cryptopunks, Art Blocks, NBA Top Shot, Cool Cats, Curio Cards, Loot (for Adventurers), and more. Bored Ape Yacht Club (BAYC) is a collection that has seen over half a billion dollars in sales to date, and the collection holds the fifth-largest all-time volume according to dappradar.com metrics. Historical sales activity shows that BAYC’s $542 million in lifetime sales was across approximately 21,481 sales. Dune Analytics statistics indicated there are 5,586 unique addresses today that hold at least one BAYC NFT. One owner owns approximately 103 BAYC NFTs and the NFT called Bored Ape Yacht Club #3749 is the most expensive BAYC in existence. BAYC #3749 sold for 740 ether or $2.65 million last month to an ETH whale with $10.59 million worth of NFTs. The owner of BAYC #3749 owns 993 non-fungible token assets across 71 collections. Meanwhile, as the BAYC NFT collection continues to see dedicated sales, the project has plans to launch a token. Bored Ape Yacht Club to Launch Token On October 8, the official BAYC Twitter account discussed the token idea with its 177,600 social media followers. “Good evening, apes. Been hearing a question around the club a lot: WEN TOKEN? Wen token indeed… First things first: It’s stupid easy to launch an ERC-20 token; it takes minutes,” the BAYC Twitter account tweeted on Friday. “It’s much more complicated to construct a legally compliant token and set it up in a responsible, sustainable way,” the BAYC account further noted. “Not to mention thoughtfully craft dope utility and governance, benefit our club members, and bring the BAYC ecosystem to a much wider audience. For the sake of our members and the broader NFT community, we want to do this in a sound way.” The BAYC social media account added: So, given that… WEN TOKEN? Well, apes: We’re currently looking at Q1 2022. The Bored Ape Yacht Club says the team will be leveraging Fenwick & West LLP, a legal firm that works with various blockchain projects. BAYC is also partnering with Horizen Labs, the team behind the cryptocurrency horizen (ZEN). The BAYC team also told its fans to watch out for fake tokens and scammers. “We’re assuming scammers will be out in full force looking to trick folks into buying all kinds of phony tokens. If info doesn’t come from our official @boredapeyc or @yugalabs Twitter, it’s not us. Stay safe, apes. It’s going to be a wild year.” While BAYC is the fifth largest in sales, ahead of the collection are projects like Axie Infinity ($7.23B), Cryptopunks ($2.93B), Art Blocks ($1.92B), and NBA Top Shot ($692.62M). Both BAYC and NBA Top Shot have yet to make it into the billion-dollar club in terms of all-time sales. However, BAYC has an offshoot NFT collection called the Mutant Ape Yacht Club (MAYC) which is the ninth-largest NFT collection in terms of all-time sales with $278.19 million. The 278 million dollars in sales was between 9,783 MAYC traders across 11,974 sales. What do you think about the Bored Ape Yacht Club revealing that it plans to launch a token in Q1 2022? Let us know what you think about this subject in the comments section below. View the full article