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PRESS RELEASE. Blockchain company DRepublic has announced the launch of their innovative combinable NFT platform MetaCore, and NFT product Legoot, using the new EIP-3664 Modularity. Blockchain MMORPG game “Cradles: Origin Of Species” creators DRepublic have now developed the first-ever combinable NFT platform MetaCore, using the new EIP-3664 Modularity. With this groundbreaking new technology, DRepublic has also developed the first combinable NFT product: Legoot, and simultaneously opened up a whole new world of possibilities within both the NFT space and the wider blockchain industry. What is EIP-3664? EIP-3664 is the next infrastructure layer for NFTs and on-chain development, bringing notable functionality improvements on the previous 1155 (multi-token) & 721 (non-fungible token) standards. The most relevant advancement EIP-3664 offers is its disaggregation and assemblage characteristics which enable the arbitrary combination of all NFTs. The most important features of EIP-3664 are its combinable, separable, and modifiable attributes which can be utilized for any kind of NFT operations through the blockchain. Users can now use EIP-3664 to create an infinite number of different products without repeating work. This level of customization opens the door to the extendability of metaverse ecosystems and NFT assets for the first time ever. MetaCore: NFT Identity System The MetaCore platform is an identity system and Layer-2 ecosystem which allows all metaverse citizens to join alternate metaverses by using a unique MetaCore Identity. With the ability for citizens to be connected to multiple metaverses, the potential for creatives to become involved in cross-chain/open-source community collaboration is exponential. Imagine a new breed of multi-element NFTs, unbound by the constraints of single static-image pieces, with almost unlimited levels of customization and disaggregation. The MetaCore Identity attribute is this gateway, and the next advancement of combinable modular NFTs, with arbitrary attributes addition and removal, freely combining and dividing each component. MetaCore uses blockchain smart contracts allowing users to sign contracts with others to set their own specific terms & conditions, all traceable via the blockchain. The MataCore login ID also supersedes the outdated password login standard and has already been supported by Cradles: Origin Of Species, and Legoot. Legoot: The Real LEGO Loot NFT Loot boxes are a hot item right now but only offer NFT prizes with very limited functionality. MetaCore is already adapted to multiple metaverse blockchain games and Legoot, a loot-like project aiming to utilize the full power of EIP-3664 enabling loot props that are changeable. Until now, NFT items have held a singular purpose and value, but the Legoot NFT assembly toy enables the free assembly and disassembling of its own parts that can be sold individually. Think of Legoot as a true NFT LEGO that can be used by players to mount to MetaCore for NFT digital identity purposes, like disaggregating down NFT weaponry items into multiple pieces for individual sale. Cradles: Origin Of Species Cradles: Origin Of Species is a prehistoric blockchain MMORPG game with the potential to disrupt the entire blockchain gaming world through the power and unique functionality of EIP-3664. These new game NFT attributes can be summarized in four categories Changeable attributes: NFT attack power and life value, both of which can be decreased or increased. Transferable attributes: NFT attributes can be transferred to other NFTs in the event of destruction or other circumstances. Upgradeable attributes: Players can pay a fee to upgrade/increase the NFT level, accompanied by the increase of other attribute values. Evolvable attributes: NFTs that evolve automatically over time, and simulate the time attributes in the real world, so that NFT has the characteristics of time-varying. Limitless Possibilities These unique new attributes are just a glimpse into the possibilities that EIP-3664 and MetaCore can provide in an NFT context. The flexibility of this versatile architecture provides limitless possibilities for expanding NFT features. For example, previously users could buy an NBA player card, but now they can own an entire team NFT with numerous individual players, all of which can be disassembled for individual sales and have varying functions and stats. EIP-3664 smart contracts may be reused as building blocks to create an infinite number of new use cases for blockchain technology that goes beyond the theoretical. MetaCore is now looking towards NFT game collaborations as its explosion into the Metaverse begins. All features now are available on Legoot, for users to make their first combinable NFT. DRepublic Links Medium | Twitter Cradles:Origin Of Species Links Cradles | Whitepaper | Discord | Twitter MetaCore Links MetaCore | Twitter | Contract | Legoot Links Legoot | Opensea Media Contact Details Contact Name: Tib Palin Contact Email: tib@cradles.io DRepublic 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 government in Abkhazia has extended an order prohibiting access to internet sites used by cryptocurrency miners. The measure is part of a wider ban on activities related to the extraction of digital coins that also limits the use of electricity and imports of mining equipment in the breakaway Georgian republic. Authorities in Abkhazia Confirm Ban on Websites Needed by Local Miners Abkhazia’s telecom and media watchdog has extended internet restrictions affecting crypto mining operations in the country. According to an order issued by the State Committee for Communications, Mass Media and Digital Development, access to certain websites used by miners remains prohibited until March 31, 2022. The initial ban adopted in late December expired on June 1 this year. As per the document issued on Oct. 6, internet providers are required to implement the technical measures needed to block the websites that allow miners to conduct their coin minting activities, Forklog reported quoting the order. However, the government agency did not list the domain names of the sites that should be restricted. Speaking to Sputnik Radio, the chairman of the committee, Beslan Khalvash, noted that the new order he signed applies to VPN services as well. He explained that the regulator used to take action against domains and IP addresses but as some users switched to VPNs. These platforms will also be targeted in the future. The official declined to comment in detail on how the ban had been circumvented but insisted: In the fight against mining, we are reaching a completely different level. Khalvash emphasized that internet providers in Abkhazia are now technically prepared to restrict access to both internet sites and VPNs. The companies have already acquired the necessary equipment and software to do this. The head of the watchdog assured: “I think that tomorrow or the day after tomorrow we will start closing these VPNs.” Abkhazia, a partially recognized de facto state in the Southern Caucasus, introduced a temporary ban on mining activities in 2018 and extended it this spring until March 31, 2022. But officials in Sukhumi have recently recognized their efforts to impose the restrictions throughout the region have largely proved unsuccessful. Despite seizing 6,000 mining devices, authorities have failed to disrupt crypto mining, which has proved to be an alternative source of income for many in the country. In September, the government in Sukhumi acknowledged that 30,000 mining rigs remain in the hands of miners, blamed for the region’s exacerbating power shortages. Nevertheless, Beslan Khalvash insisted that the internet restrictions imposed last year have allowed Abkhazia to save a lot of electrical energy. “The decision was justified. I am sure that the extension of that order and the closure of VPNs will also have some effect… I think that this order will also provide an opportunity to save electricity,” he stated. That, of course, is not so sure at all. Khalvash himself admitted that there are large cryptocurrency farms in Abkhazia which can afford to avoid using the services of local internet providers. “They can take internet from the satellite,” he conceded. Earlier this year, reports revealed that Abkhazia is holding talks with its main backer, Russia, to solve the problem with its electricity deficit. The Minister of Economy Christina Ozgan said that authorities plan to organize additional supplies from the Russian Federation. What’s more, she added that they even want to set up facilities where miners can install their equipment and legally connect to the grid. Do you think authorities in Abkhazia will be able to curb crypto mining? Tell us in the comments section below. View the full article

CEO of trading firm Genesis, Michael Moro, stated that according to his views the decentralized finance (defi) space is still too risky for institutions to step in. Moro explained that there have been some important mistakes made by high-profile defi protocols that are putting customers’ funds at risk. This is why the space is being still dominated by retail investors, that have more lax risk management policies. Defi Errors Scare Away Institutions Michael Moro, CEO of Genesis, one of the biggest cryptocurrency trading firms in the space, stated his opinion about why defi has failed to entice institutions to invest in these protocols. According to his view, the space is still too risky and this is evidenced by some recent mistakes high-profile entities have made. In an interview with Insider, Moro stated: Errors and mistakes that you’ve seen certainly make institutions shy from doing anything in size, in any particular platform. Hedge funds and proprietary trading firms would be very interested in using some of these protocols for their benefit, but these institutions are not willing to suffer from big mistakes that could cost them millions of dollars. Moro stressed that retail investors were at risk, stating: The unfortunate part is that, for now, because it’s consumers, it’s retail guys that are punting around on defi today, it’ll be they to lose their money. Another Day, Another Hack or Exploit The decentralized finance sector is, without a doubt, one of the most exploited and hacked in the cryptocurrency industry. This is because it is based on smart contracts that can exhibit vulnerabilities not always detectable by auditing companies. Just last week, Compound, one of the leading lending and borrowing protocols on Ethereum, experienced a bug in a smart contract that left millions of dollars up for grabs for the users of the platform. The bug was caused by an upgrade to one of the critical contracts on the platform, that delivers rewards to users in the form of the native token, comp. This upgrade was led by community members, who wrote the modifications to the contract and also reviewed its code. To Moro, this is one of the great dangers of the sector. He concluded: There’s a trial and error element to defi, where the error will cost a hundred million-plus. I don’t think we have a robust enough ecosystem of auditors. I think you’re still trusting someone to have audited the code. What do you think about the Genesis CEO’s opinion on why institutions have not embraced defi? Tell us in the comments section below. View the full article

Former teen soap star from the popular television series “The O.C.,” Ben McKenzie, has called out his fellow celebrities for shilling specific cryptocurrency projects. McKenzie calls the trend a “moral disaster” and he’s named a bunch of celebrities that have shilled a few crypto projects to their loyal fans. ‘The O.C.’ Star Ben McKenzie Writes a Scathing Review About His Fellow Celebrities and Their Crypto Participation On October 7, the American actor, writer, and director Ben McKenzie has a problem with his fellow celebrities pushing certain crypto projects. So much so he wrote an opinion editorial denouncing the behavior and published it via the publication The Slate. Ben McKenzie is also a celebrity himself as his first high-profile role was in 2003, when he played “Ryan Atwood” in the television series “The O.C.” McKenzie also starred in the show “Southland” and the television series “Gotham.” The oped written by McKenzie is called “Celebrity Crypto Shilling Is a Moral Disaster,” and the first person it strikes is the popular socialite Kim Kardashian. McKenzie discussed how Kardashian shilled the crypto token Ethereum Max using her Instagram account with her 228 million followers. “The post was an immediate sensation, and a touch controversial,” McKenzie wrote. “Ethereum Max was only a month old, few had heard of it, and it wasn’t even obvious how the ‘token’ was supposed to work,” the actor added. As of this writing, Ethereum Max is priced at $0.00000002257, according to coinmarketcap.com. That’s a lot of zeroes. If you bought Ethereum Max after Kardashian pushed it and didn’t sell fast enough, all you were left with was a practically worthless digital asset. McKenzie: ‘Celebrities Might as Well Be Seating Their Audience at a Rigged Blackjack Table’ McKenzie further ripped into a number of other celebrities like the former heavyweight champ Floyd Mayweather Jr., former NBA star Paul Pierce, the actress Lindsay Lohan, and the Superbowl Champion Tom Brady as well. “The Hollywoodization of crypto is a moral disaster. And for celebrities’ fans, who likely have far less money to lose, it’s potentially a financial one, too,” McKenzie stressed. “The O.C.” star further added: These rich and famous entertainers might as well be pushing payday loans or seating their audience at a rigged blackjack table. While the wild swings of crypto might be exciting for some, the rewards for many are illusory, especially once one gets beyond the top few cryptocurrencies like Bitcoin and Ethereum (which is a separate entity from Ethereum Max). The Slate article, however, is co-written by the journalist Jacob Silverman, an author who is in the midst of writing a book about crypto fraud. Silverman has a lot to say about big tech and shares a lot of anti-capitalist views across a number of his editorials. The author Silverman has also written “Terms of Service: Social Media and the Price of Constant Connection.” McKenzie too seems to believe that the crypto world is riddled with scams and so-called “rug pulls.” But for celebrities, to add hype to these types of speculative investments, is a bit over the top in his opinion. “Celebrities are encouraging their fans to gamble on speculative, unproven investments that may soon see a major regulatory crackdown, if not an outright implosion of the market,” McKenzie emphasized. The actor’s scathing critique of his fellow celebrities concluded: If celebrities care about what products they promote, they should think twice about putting their support behind these companies. Crypto and blockchain technology may yet have important roles to play, but the industry executives, venture capitalists, and, yes, the rich and famous people pushing these products haven’t earned your trust — or your money. What do you think about Ben McKenzie’s opinion editorial concerning celebrities shilling crypto projects? Let us know what you think about this subject in the comments section below. View the full article

China has proposed adding cryptocurrency mining to the country’s latest “Negative List for Market Access.” This will make cryptocurrency mining an industry that is off-limits to investors, another move by the Chinese government to clamp down on crypto-related activities. China’s Negative List of Industries to Include Cryptocurrency Mining Cryptocurrency mining has been added to the 2021 draft “Negative List for Market Access,” according to an announcement on Friday by China’s National Development and Reform Commission, the state planner. The list was jointly released by the Commission and the Ministry of Commerce. The State Council explained: The negative list for market access outlines sectors, fields, and businesses off-limits for investors. Industries, fields, and businesses not on the list are open for investment to all market players. The list consists of 123 industries in 2020. The number of industries on the list has been reduced to 117 in the current version. Industries not on the list are open for investment to all with no approvals required. The Development and Reform Commission is currently soliciting public opinions regarding the negative list. The seven-day public comment period runs from Oct. 8 to Oct. 14. China has been actively cracking down on crypto activities, banning crypto mining and trading. Subsequently, crypto exchanges and service providers have been cutting ties with Chinese users. However, the impact of the Chinese crackdown on global cryptocurrency markets has been minimal. Since the latest crackdown announcement on Sept. 24, the price of bitcoin has risen more than 30%. At the time of writing, the cryptocurrency is trading at $54,214. Privacy activist and whistleblower Edward Snowden recently said that China’s ban “made bitcoin stronger.” What do you think about China adding cryptocurrency mining to the “Negative List for Market Access” making the industry off-limits to investors? Let us know in the comments section below. View the full article

Binance has announced that it is terminating some services in South Africa to comply with regulations. This move followed a warning issued by the South African financial regulator that Binance Group was not authorized to give any financial advice or render any intermediary services in the country. Binance Ceases Some Services in South Africa Cryptocurrency exchange Binance announced Friday some changes to its offerings in South Africa. Noting that it “constantly evaluates its product and service offerings to comply with local regulations,” Binance said it will “cease offering” futures, options, margin, and leveraged tokens products to South African users. The company added: With immediate effect, South African users will be restricted from opening new accounts for these products. Users will have 90 days to reduce and close their positions for these products. The exchange continued, “Users will be able to top-up margin balances to prevent margin calls and liquidations, but they will not be able to increase or open new positions.” Furthermore, “Users will no longer be able to manually reduce or close their positions after 6th January 2022 11:59 PM (UTC). Thereafter all remaining open positions will be closed.” This announcement followed a warning issued in early September by South Africa’s financial regulator, the Financial Sector Conduct Authority (FSCA). The FSCA warned the public that Binance Group was not authorized to give any financial advice or render any intermediary services in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act) in South Africa. Following the FSCA’s notice, Binance issued a statement claiming that “Binance.com does not provide financial advice or render any intermediary services.” Regulators in many jurisdictions worldwide have been heavily scrutinizing Binance, including those in the U.K., Netherlands, Singapore, Hong Kong, Malaysia, Thailand, Lithuania, Italy, and Canada. U.S. authorities are also investigating Binance for possible market manipulation and insider trading. What do you think about Binance ceasing some offerings in South Africa? Let us know in the comments section below. View the full article

Digital asset platform Bakkt has announced a partnership with Google “to introduce digital assets to millions of consumers.” With the partnership, Bakkt says consumers will benefit from the “expanded reach and access” to cryptocurrencies. Google Collaborates With Bakkt to Expand Consumer Access to Cryptocurrencies Intercontinental Exchange’s digital asset platform, Bakkt, announced Friday that it has partnered with Google “to introduce digital assets to millions of consumers.” By forming a partnership with Google, Bakkt said: Consumers will benefit from expanded reach and access to digital assets. Launched in 2018 by Intercontinental Exchange Inc., the parent company of the New York Stock Exchange (NYSE), Bakkt enables institutions and consumers to buy, sell, store and spend digital assets, including cryptocurrencies. Bakkt explained that “users will be able to add their virtual Bakkt Visa Debit Card into Google Pay to purchase everyday goods and services online, in-store, or wherever Google Pay is accepted.” Cryptocurrencies, such as bitcoin will be converted to fiat currency for these payments to occur, the company clarified. Several other cryptocurrency platforms have added Google Pay, including Bitpay and the Nasdaq-listed crypto exchange Coinbase. The former added Google Pay for U.S. cardholders to spend cryptocurrencies in August while the latter enabled Coinbase Card users to pay via Apple Pay and Google Pay in June. Bakkt & Google Cloud In addition, Bakkt said that it has selected Google Cloud as a preferred cloud provider. The company will market its solutions powered by Google Cloud to leading retailers and merchants in the U.S. Bakkt also plans to leverage Google Cloud’s tools to build new analytics along with artificial intelligence (AI), machine learning (ML), and geolocation functionality on its platform. Bakkt CEO Gavin Michael opined: “This partnership is a testament to Bakkt’s strong position in the digital asset marketplace, to empower consumers to enjoy their digital assets in a real-time, secure, reliable manner.” Kirsten Kliphouse, Google Cloud President of North America, commented: We are proud to help Bakkt accelerate and scale the availability of their innovative solutions, powered by our technologies. What do you think about Google and Bakkt making cryptocurrencies more accessible to consumers? Let us know in the comments section below. View the full article

Cryptocurrency can be quite complicated for some and lawmakers in Russia think they need to contemplate restrictions for private investors. According to a high-ranking representative of the legislature, the Russian parliament needs to provide them with “maximum protection” against the risks. Members of Russian Parliament to Seek Protection for Citizens Investing in Cryptocurrency Deputies in the State Duma, the lower house of Russian parliament, are thinking about introducing certain legal restrictions on the funds non-qualified investors can put into crypto assets. Anatoly Aksakov, chairman of the parliamentary Financial Market Committee, revealed the intention during an international conference on consumer protection for users of financial services, Interfax reported. Billions of dollars are being spent on the acquisition of cryptocurrency, Aksakov noted in his statement while highlighting the great risks but also the great returns associated with this type of investment. He then emphasized that “digital assets are subject of our close attention,” insisting lawmakers need to adopt provisions that will safeguard “unqualified” individuals from “ill-considered investments.” The high-ranking member of the Duma emphasized that Russian deputies will look into ways to ensure “maximum protection” for citizens investing in digital currencies and similar assets. As a new financial instrument, cryptocurrency can be quite complicated for non-qualified investors, Anatoly Aksakov pointed out in his address to the participants in the forum. This isn’t the first time authorities in Moscow have discussed restrictions on how much ordinary people should be allowed to invest in cryptocurrencies. Last October, Bank of Russia proposed an annual limit of 600,000 rubles ($8,300 at the time of writing) seeking public opinion on the threshold. The restriction had to be incorporated into the law “On Digital Financial Assets” which went into force on Jan. 1 this year. The head of the Duma’s Financial Market Committee did not elaborate on the legislative measures he was referring to now. The Russian central bank, known for its hardline stance on crypto regulations, stated in July that the purchase of financial instruments linked to crypto-assets “entails increased risks of losses for people who do not have sufficient experience and knowledge.” The monetary authority issued the warning as part of a recommendation for Russian exchanges to prevent trading domestic or foreign securities, the dividend payments of which depend on cryptocurrencies. The bank specifically listed products tied to the prices of digital assets, changes in crypto indices, and the cost of crypto derivatives. Do you think the Russian parliament will adopt tough restrictions for non-qualified crypto investors? Tell us in the comments section below. View the full article

Over the last few days, cryptocurrency advocates have been discussing the Sat Symbol initiative, a goal that aims to get a specifically designed symbol to represent the smallest unit of bitcoin and also get the symbol widely adopted. The Sat Symbol has been promoted by a number of crypto luminaries but others have offered alternative ideas. Initiative Attempts to Tie Symbol to Bitcoin’s Smallest Unit Most people know that Satoshi Nakamoto is the inventor of the Bitcoin protocol, the “purely peer-to-peer version of electronic cash” that was launched on January 3, 2009. The word Satoshi has Japanese roots and the name translates into definitions such as ‘quick-witted,’ ‘clear thinking’, and ‘wise.’ Furthermore, the popular anime Pokémon’s lead human character Ash Ketchum’s name is “Satoshi” in Japanese. While the name was used by Bitcoin’s inventor, the term “satoshi” (lowercase) is also the smallest unit of bitcoin. The term satoshi, when referring to bitcoin’s smallest unit, has been adopted far and wide by the crypto community at large. Around two years ago in mid-October 2019, Oxford University Press published its quarterly report explaining the word satoshi was officially added to the Oxford English Dictionary (OED) database. The cryptocurrency bitcoin is divisible by up to eight decimal points. Each bitcoin is equal to 100 million satoshis and the protocol has a supply cap of roughly 21 million bitcoin. Now there’s an initiative that is attempting to get a symbol for bitcoin’s smallest unit adopted by the community at large. The web portal called satsymbol.com showcases the idea as three parallel horizontal lines and there’s a small vertical line above and below the stack of horizontal lines. The website shows the orange “B” bitcoin symbol and how it relates to the satoshi design concept in animated fashion. “Support the bitcoin design initiative to make this the official satoshi symbol – open, free, and unrestricted as Satoshi would have wanted – please share if you agree,” the satsymbol.com website details. Satoshi Symbol Discussion Re-Ignites On Thursday evening around 7 p.m. (EST), the term “satoshi” was trending with a large quantity of trending tweets sharing the Sat Symbol initiative’s design. Microstrategy’s Michael Saylor shared the web domain on Twitter and said: “May satoshi be with you.” The crypto pundit and self-proclaimed “bitcoin maximalist” Max Keiser decided to share an alternative idea that could represent the satoshi symbol. “Symbol for satoshi should be a tilde. It looks enough like the sign for infinity – and it’s on every keyboard. ~ 1,000,000 = 1 million sats,” Keiser added. We all have the true satoshi symbol embedded in our minds. This was a prophecy. pic.twitter.com/mGo3NAD4Cp — MancHODL ⚡️ ∞/21M (@MancHODL) October 7, 2021 Others shared the old-school S symbol (“Cool S,” also known as the “Stussy S,” or “Super S”) all the cool kids used to draw back in the day. Bitcoin proponent ​​Dennis Porter said he agreed with Keiser’s idea. “I agree with Max Keiser on the satoshi symbol. This is on every keyboard which will make it backward compatible,” Porter wrote. However, another person disagreed with Keiser’s take on the symbol and one person replied to Porter and said: “Max isn’t often wrong. He’s wrong on this one. This symbol is better,” while sharing a screenshot of the Sat Symbol initiative picture. A number of others tweeted about the Sat Symbol initiative on Thursday evening. The idea to call the smallest unit of bitcoin satoshi was conceived back in 2010 when an individual dubbed “Ribuck” proposed that one-hundredth of a bitcoin should be called satoshi to honor the protocol’s inventor. Ribuck’s idea has stuck around and most people use the term satoshi to represent the smallest unit of bitcoin but as far as the symbol goes, a widely adopted idea may not come to fruition. The attempt to tether a symbol to the term has been tried on many occasions but every one so far has ultimately failed. In July 2019, Square Crypto initiated a trend on Twitter when it asked people to share designs that could represent the smallest increment of bitcoin. One person told Square that he designed a fairly popular idea that had gained some traction. What do you think about the Sat Symbol initiative and the many attempts to get a symbol tied to bitcoin’s smallest unit? Let us know what you think about this subject in the comments section below. View the full article

The cryptocurrency shiba inu has managed to capture the 18th position in terms of crypto market valuations. The token has gained 230% during the last seven days and year-to-date, SHIB has gained a whopping 24,177,682%. SHIB’s Value Swells After Whale Buys $43 Million Worth of Tokens The popular meme-based crypto-asset shiba inu (SHIB) has seen massive gains this year and has propelled itself into the top 20 market positions. At the time of writing, shiba inu has a market valuation of around $11.6 billion. While seven-day stats show SHIB has jumped over 230%, monthly metrics show the crypto asset has gained close to 300%. On Friday, October 8, 2021, there’s $13.9 billion in 24-hour SHIB trading volume. On September 30, 2021, a whale purchased over 6 trillion SHIB just before the price skyrocketed. Shiba inu made its way into the limelight when Ethereum co-founder Vitalik Buterin donated $1 billion worth of SHIB to India’s Crypto Covid Relief. In recent times, Coinbase has listed shiba inu (SHIB) and the meme-based crypto asset has seen significant retail demand since the initial listing. The Shiba Inu team has also developed a decentralized exchange (dex) called Shibaswap. Shibaswap has $364 million total value locked (TVL) and a few different crypto-assets tethered to the SHIB ecosystem like the tokens leash and bone. Leash is swapping for $1,871 per unit and bone swaps for $2.33 per token today. 🐳🐳 An SHIB whale just bought 6,178,758,122,373 $SHIB ($43,838,916 USD) Transaction: https://t.co/X7mlV2fmKj#SHIB #ShibArmy #Shiba #SHIBARMY — WhaleStats.eth – top 1K ETH wallets (@WhaleStats) September 30, 2021 Stats show the top SHIB exchanges on Friday include Binance, Huobipro, Okex, Coinbase, and Poloniex. Tether (USDT) is the top pair today with SHIB and 78% of all SHIB trades are paired with USDT. This is followed by BUSD (11.29%), TRY (5.40%), EUR (3.02%), and WETH (0.67%). What do you think about shiba inu’s massive gains this past week? Let us know what you think about this subject in the comments section below. View the full article

The Bitcoin.com Team is excited to announce support for Ethereum-based DApps in the Bitcoin.com Wallet via WalletConnect. Earn interest on your cryptoassets, trade using decentralized exchanges, participate in NFT marketplaces and more. What is WalletConnect? WalletConnect is a bridge that securely connects DApps to crypto wallets. Once you’ve approved the connection between your wallet and a DApp, the DApp can send transaction requests to your wallet, which you must then approve or deny. You can find more information about WalletConnect here. How do you connect to DApps in the Bitcoin.com Wallet? Just go to any DApp website, locate the “Connect” or “Sign in” button, and select WalletConnect as the connection / sign in method. This brings up a QR code and a link. Then, in the Bitcoin.com Wallet, tap the QR code icon on the home screen and either scan the DApp’s QR code, or paste in the link. Once you confirm via the Wallet, you’ll be connected to the DApp. This will enable the DApp to see the contents of your Bitcoin.com Ethereum wallet and to send you transaction requests, which you both initiate (via the DApp’s website) and approve or deny (via your Wallet). You can also connect to DApps using WalletConnect with the desktop/web version of the Bitcoin.com Wallet. What can DApps do? While in theory DApps can do anything traditional apps can do, the current processing restraints of decentralized networks like Ethereum mean DApps are primarily used for money-related activities. The use cases of borrowing, lending, exchange, and derivatives form what’s often referred to as DeFi (Decentralized Finance). Popular DApps in this category include UniSwap, SushiSwap, and Compound — and the Bitcoin.com Wallet supports the native tokens for all of those DApps. Recently, NFT marketplaces like OpenSea and SuperRare have become popular DApps. Here, you can buy and sell NFT-based artwork and collectibles, some of which integrate elements of gamification. You can browse through recommended DApps in the Bitcoin.com Wallet app’s Discover tab or find a comprehensive list here. Is connecting to DApps safe? Using WalletConnect to connect to DApps is safe in the sense that it establishes a secure (encrypted) connection, with your approval, between your Bitcoin.com Wallet and the DApps of your choosing, and it does not reveal your private key. In other words, when you connect to a DApp via WalletConnect, it’s impossible for the funds in your wallet to be spent without your approval. That being said, any time you (purposely) send cryptoassets to a smart contract, there are risks. These are outlined here. What’s next? Bitcoin.com, in line with its vision to support economic freedom, will be rolling out more DApp-related features over the coming months. You can register for notifications here, and follow us on Twitter and Instagram. View the full article

According to the findings of a study by Afriwise, Kenya, Nigeria, and South Africa have the most developed fintech ecosystems on the continent. The study points to early regulation as one of the reasons for the industry’s success in these countries. Regulated Fintech Ecosystems Attract Investors Explaining the key role that regulation has played in the growth of the fintech sector in these three countries, the study states: The connection between regulations and a flourishing fintech sector is an important one. It is no coincidence that investors and businesses in fintech are drawn to markets with more robust financial regulatory ecosystems. It is one of the reasons that funding remains concentrated in a few markets. Indeed, the three countries along with Egypt “are recognised as the four fintech hubs in Africa, securing 80% of fundraising in 2020.” Importance of Regulation In contrast, investors have steered clear of African countries where there are no fintech regulatory ecosystems. As explained in the report, “the absence of robust regulations can expose both end-users and fintech service providers to a multitude of risks.” Such risks in turn discourage investors from setting up shop. In addition to the lack of fintech regulatory systems, the study also notes that there is generally “not enough funding allocated toward government training or entities to address regulations for new and constantly evolving sectors.” As a result, regulators often lack the resources to oversee not just fintech but also “cross-border operations for financial service providers.” Therefore, to overcome these as well as other challenges, the study encourages fintech start-ups to “work directly with regulators, build relationships and ensure they keep up with constantly evolving regulation.” This, in turn, will supposedly ensure that any new regulatory frameworks covering fintech will lead to the growth of the industry. Do you agree that lack of regulation is hampering the growth of the fintech industry in many countries? Tell us what you think in the comments section below. View the full article

Dapper Labs, one of the most successful companies in the NFT space, has partnered with Chainalysis, a blockchain intelligence company, to increase its compliance profile in the NFT business. The company will use Chainalysis insights to have a better understanding of each one of the transactions that users make with their products and the purpose of each transaction. This will help them detect money laundering instances and market manipulation attempts. Dapper Labs to Use Chainalysis’ Solutions to Increase Oversight Dapper Labs, the creators of notable projects like Cryptokitties and NBA Top Shots, has partnered with Chainalysis, one of the leading blockchain intelligence companies, to increase oversight of transactions involving its products. The company is seeking to have a better understanding of what users are doing with its creations, and if these are indeed being leveraged by bad actors for illicit purposes. NFTs have gotten a bad rap, with some members of the cryptocurrency community making allegations they are being used to launder money due to the outrageous prices of some of these NFTs. Dapper Labs acknowledges the need for more awareness to make their products safer for anyone wishing to enjoy NFT markets. Naeem Bawla, associate director of compliance at Dapper Labs, stated: NFTs are one of the most exciting spaces in cryptocurrency, but they will only be successful in the long-term if we can ensure a safe environment for our customers. NFT Boom and Chainalysis Weapons While NFTs had been largely ignored due to their low trading volumes, this year all that changed, with NFT projects reaching more than $1 billion traded. This has increased concern about the legitimacy of the funds moved in such markets, with companies like Dapper Labs growing increasingly worried about the effectiveness of the compliance measures taken. Dapper Labs will apply two different Chainalysis tools. The first one is called Chainalysis KYT (Know Your Transaction), which the company claims can flag illicit and risky transactions in real-time, alerting Dapper Labs of any wrongdoing when it is happening. The other tool that the company will be using is Chainalysis Reactor, which will allow the company to make inquiries about, and subsequent investigations into, any transaction. These tools form part of the Chainalysis arsenal to combat irregularities via this new use case that is NFT-based compliance. What do you think about Dapper Labs’ partnership with Chainalysis? Tell us in the comments section below. View the full article

The central bank of Georgia is advancing its digital currency project. The monetary authority is preparing to launch the CBDC as early as next year and plans to use the blockchain-based version of the national fiat, the Georgian lari, to facilitate retail sales. Georgia to Introduce Digital Lari in 2022 The National Bank of Georgia (NBG) intends to pilot its own digital currency in a program scheduled for next year, Vice President Papuna Lezhava revealed this week. Speaking to reporters on Tuesday, the high-ranking official remarked that 85% of the world’s central banks are already working on state-issued digital currencies. Quoted by the Interfax news agency, Lezhava stated: Some are in the research phase, some are testing, some have already implemented it, including China and the Bahamas. We also want to be at the forefront of this trend. The banker further elaborated that a central bank digital currency (CBDC) is not cryptocurrency but rather “an evolution of cash.” Nevertheless, the digital Georgian lari is going to be based on the same technology that underpins decentralized digital money, blockchain. The lari coin, however, will neither be mined nor be a subject of market speculation, Lezhava noted. The NBG will be the only issuer of Georgia’s sovereign digital currency, the bank’s representative emphasized. Despite its differences from cryptocurrencies, the digital lari will be able to compete with them in facilitating various services. At the initial stages of its introduction, the government in Tbilisi plans to use it in retail sales, for example. Georgian Digital Currency to Be Faster, Cheaper Than Traditional Payment Methods Officials behind the CBDC project believe that the new currency will help to improve the efficiency of the country’s payment system and promote financial inclusion in Georgia. Financial authorities hope it will become a faster and cheaper means of payment than traditional ones. The digital lari will also work around the clock and its transactions will not require an internet connection, Papuna Lezhava added. He also highlighted “its main advantage” — the Georgian digital coin will be open to and compatible with other technologies, unlike paper cash and current payment systems. In May this year, the National Bank of Georgia called on fintech companies, financial institutions, and technology firms to support its efforts to create a national digital currency. Interested parties were invited to join a public-private partnership tasked to facilitate the adoption of the digital lari in the country’s economy. The U.S. Federal Reserve, the European Central Bank, and Bank of Russia are among dozens of monetary authorities around the world working to develop and issue CBDCs. The People’s Bank of China has arguably the most advanced project, with numerous trials of the digital yuan already underway across the country. Do you think Georgia will succeed in its project to launch a central bank digital currency? Let us know in the comments section below. View the full article

PRESS RELEASE. Dreamr Labs flagship product the Dreamr app gains significant traction after its recent $DMR token listing on Bittrex global exchange and sponsoring Charlie Rockets Dream Machine Tour #DMT21 NASSAU, BAHAMAS (OCTOBER 7, 2021) Dreamr (Ticker: DMR) is the community driven platform created for users to pursue their personal and entrepreneurial dreams. The platform currently helps people to build a tribe around their declared dream or idea and has decentralized financial tools built on the blockchain in its roadmap to help users overcome monetary obstacles. Users can earn DMR tokens through Dreamr’s in-app rewards program by declaring their dream and using the app’s networking features. Dreamr social media sensation Charlie “Rocket” Jabaley recently embarked on a 45-day traveling bus tour set to give away $1 million dollars to app users who declare their dreams. The Dreamr token was recently listed on Bittrex global exchange, trading under the DMR symbol. The combination of both events saw the Dreamr app rise to number 18 on Apple Inc. App Store (Lifestyle) and doubled its user base to 60,000 users and counting, less than two weeks after the Dream Machine Tour launched and three weeks from its listing. Dreamr CEO, Chris Adams stated; ”We are pleased to announce that we have exceeded our internal expectations for app downloads by a significant margin. We attribute this to the combination of being the main sponsor of the Dream Machine Tour and the recent approval to begin trading the DMR platform token on tier one exchange Bittrex Global. It’s now time to build out our social and financial products outlined in the dreamr whitepaper that will give people the tools to achieve their dreams.” Charlie “Rocket” Jabaley stated “So far we have given away $149,666 to hopeful ‘dreamrs’ who have downloaded the Dreamr app to declare their dreams in the last 13 days, The Dream Machine Tour continues – with the remaining $850,334 to be distributed to deserving users across multiple cities who upload their dreams to the app. The team on the Dream Machine Tour hand picks and travels to those in-need who need help materializing their dreams. We have major announcements planned as the tour continues, with a big finale taking shape for Miami… stay tuned”” Download the Dreamr app and start declaring your dreams today. Connect with @charlie on dreamr to get your dream in front of the Dream Machine Tour team. ABOUT DREAMR Dreamr® (Ticker: DMR Bittrex Global) is an ecosystem of social networking and financial tools designed specifically to make the pursuit of one’s biggest dreams more practical. The dreamr platform is a positive and powerful space for users to declare their dream and build a supportive community of new, like-minded connections. The $DMR token is a cryptocurrency native to the dreamr ecosystem that gives platform users a significant say in the platform’s roadmap and user policies (privacy, especially) moving forward. Dreamr was founded in July 2015 and operated in stealth until 2019, and the dreamr app officially launched on iOS & Android in September 2020. As a brand, Dreamr is known for infusing a community-first, philanthropic spirit into everything it does. Its team of technologists, entrepreneurs, and creatives have come together around a mission to make the pursuit of our biggest dreams and aspirations more practical for everyone – already raising over $2 million to build upon the vision of a digital ecosystem for dreamers, comprised of mobile networking & decentralized financial tools. ### MEDIA CONTACT press@dreamr.app 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-based games and NFT trading were the driving force behind dapp adoption during Q3, according to defi insight platform Dappradar. In its Dapp Industry Report: Q3 2021 Overview, Dappradar states that the importance of these new activities in the crypto industry rose dramatically, making the space more diversified and competitive in the process. Defi also got a boost with platforms like Solana and Terra maturing to accommodate more projects. Dappradar: NFTs and Play-to-Earn Were Key During Q3 NFTs and play-to-earn games were very important for the industry during the last quarter, according to the Dapp Industry Report: Q3 2021 Overview issued by Dappradar. The report states the sector has surpassed traditional decentralized apps in unique active wallets, a testament to the popularity of these tools nowadays. The play-to-earn movement attracted more than 754,000 daily unique active wallets during Q3, providing more activity than other more established decentralized finance protocols. This surge has been in part the product of the irruption of Axie Infinity in the market last quarter, a blockchain game that has already moved more than $1.6 billion. The NFT sector also experienced unprecedented growth, increasing its value by 704% quarter-on-quarter. Diversification Is Key The reason for all this boom in previously ignored or marginalized sectors of the industry has to do with the direction that the market has taken, giving value to diversification. This is the opinion of Modesta Jurgelevičienè, Head of Finance & Research at DappRadar, who stated: If I were to sum up Q3 in a single word, it would be ‘diversification’. The play-to-earn movement became a key driver in the space, NFTs turned towards greater utility and secured record volumes, and the DeFi space got a lot more interesting and competitive with the likes of Solana and Terra. In general, this gave new breath to the market at that time, when prices were stagnant. The blockchain sector managed to keep expanding as a whole, recording growth of 25% quarter-over-quarter and 509% year-over-year. While Ethereum is the incontestable leader in the defi market, two blockchains have entered the space with force. Solana reached $8.28 billion TVL during this quarter, an increase of a whopping 1,300% compared to the last quarter. Also, Terra has slowly made itself more relevant by introducing protocols like Anchor, which offers 20% APY over stablecoin deposits. Terra’s TVL is $8.09 billion, up 137% from the last quarter. What do you think about Dappradar’s latest industry report? Tell us in the comments section below. View the full article

Moneygram, one of the leaders in the cross-border payments and remittances market, has partnered with the Stellar Development Foundation to use the Stellar blockchain for settlements. The company will use the native version of USD coin (USDC), a popular stablecoin, to simplify and accelerate the process of sending remittances. This also means that Moneygram will act as a fiat on and off-ramp service for USD coin users. Moneygram to Use Crypto for Remittances Moneygram, a Dallas, Texas-based payments and remittances company, has announced a partnership with the Stellar Development Foundation, the development and growth arm for the Stellar blockchain, to make use of its capabilities for settling payments and facilitating remittances. The company will use the native version of USDC on the Stellar blockchain to move funds in a more easy and effective way. However, neither Moneygram nor Circle are banks. United Texas Bank will serve as a settlement bank between Circle and MoneyGram, acting as a link between the two institutions. Moneygram now becomes an off-ramp for users of USD coin as a way of getting fiat funds, and vice-versa, adding value to the USDC ecosystem. Moneygram was one of the first remittances companies to integrate blockchain when it announced a partnership with Ripple. However, this partnership dissolved after the SEC announced it was pursuing legal actions against the company in December, 2020. Simpler, Faster, and Cheaper The new system to be implemented by the company is expected to allow for almost instantaneous settlement times with low fees thanks to the use of the Stellar blockchain, and no implied volatility due to the use of stablecoins. About the importance of these instruments, Alex Holmes, CEO of Moneygram stated: As crypto and digital currencies rise in prominence, we’re especially optimistic about the potential of stablecoins as a method to streamline cross-border payments… we are extremely well-positioned to continue to be the leader in building bridges to connect digital currencies with local fiat currencies. According to Circle, this partnership will contribute to lowering the costs associated with remittances. This is one of the UN’s proposed Sustainable Development Goals, which aims to lower remittance costs from 7% to 3% of the funds sent. It will be interesting to see if cryptocurrencies can help achieve this objective in the short term. What do you think about Moneygram’s partnership with the Stellar Development Foundation? Tell us in the comments section below. View the full article

Soros Fund Management, founded by billionaire investor George Soros, has invested in bitcoin. The CEO of the asset management company says bitcoin is not just an inflation hedge: “I think it’s crossed the chasm to mainstream.” Soros Fund Management’s CEO Says Bitcoin Has Gone Mainstream Soros Fund Management, the asset management company founded by billionaire investor George Soros, has invested in bitcoin, the fund’s CEO, Dawn Fitzpatrick, revealed in an interview with Bloomberg, published Tuesday. Fitzpatrick is both the CEO and chief investment officer (CIO) of Soros Fund Management. She is the first person to hold both titles. Discussing inflation, she said, “If you watched gold in September, it was down 5% so I think the fear of the debasing of the U.S. dollar has receded to a degree.” In addition, she noted, “The IMF just came out with kind of reserve currency balances and the U.S. dollar has stopped losing ground.” Nonetheless, bitcoin is trading above $50K. Commenting on the rapid rise in the price of BTC, Fitzpatrick opined: I am not sure bitcoin is only viewed as an inflation hedge here. I think it’s crossed the chasm to mainstream. Cryptocurrencies now have a market cap of over $2 trillion. There’s 200 million users around the world. So, I think this has gone mainstream from our perspective. The CEO of Soros Fund Management further revealed: We own some coins but not a lot, and the coins themselves are less interesting than the use cases of defi [decentralized finance] and things like that. In March, Fitzpatrick said that central bank digital currencies (CBDCs) “is a potential threat to bitcoin and other cryptocurrencies.” However, she said the threat “will be temporary,” emphasizing, “I don’t think they’ll be successful in permanently destabilizing bitcoin.” At the time of writing, bitcoin is trading at $53,982.51 and its market cap is about $1.2 trillion. What do you think about the CEO of Soros Fund Management saying that bitcoin has gone mainstream? Let us know in the comments section below. View the full article

Global investment bank JPMorgan says institutional investors are returning to bitcoin, seeing the cryptocurrency as a better hedge than gold. The firm’s analysts describe three key drivers boosting the price of bitcoin in recent weeks, including assurances that U.S. policymakers will not ban cryptocurrencies. JPMorgan Sees Renewed Interest in Bitcoin JPMorgan published a research note Thursday stating that institutional investors are returning to bitcoin. Citing the trend of money flowing out of gold into BTC, the firm’s analysts wrote: Institutional investors appear to be returning to bitcoin perhaps seeing it as a better inflation hedge than gold. The analysts explained that there are three key drivers pushing the price of bitcoin from about $40K to about $55K in a short period of time. The price of bitcoin is $53,853.14 at the time of writing based on data from Bitcoin.com Markets. The first is “The recent assurances by U.S. policymakers that there is no intention to follow China’s steps towards banning the usage or mining of cryptocurrencies.” Both Federal Reserve Chairman Jerome Powell and SEC Chairman Gary Gensler told Congress this week that they had no intention to ban cryptocurrency as China did. The SEC chief said his agency is taking a different approach to China, focusing on investor protection and regulation. The second reason is “The recent rise of the Lightning Network and 2nd layer payments solutions helped by El Salvador’s bitcoin adoption,” JPMorgan detailed. El Salvador made bitcoin legal tender in early September. The country has bought 700 BTC and President Nayib Bukele claimed that 3 million Salvadorans are already using the government’s bitcoin wallet, Chivo. The third reason is: The re-emergence of inflation concerns among investors has renewed interest in the usage of bitcoin as an inflation hedge. JPMorgan further explained that the trend of funds flowing out of gold into bitcoin has reemerged in recent weeks. In May, the firm saw the opposite trend where funds flowed out of BTC into gold. According to the firm, more than $10 billion has flowed out of gold exchange-traded funds (ETFs) since the beginning of the year. During the same time period, more than $20 billion has flowed into bitcoin funds. Noting that those flows of funds into bitcoin helped push BTC’s share of the total crypto market to nearly 45% from a low of 41% in mid-September, the analysts concluded: The increase in the share of bitcoin is a healthy development as it is more likely to reflect institutional participation than smaller cryptocurrencies. Meanwhile, JPMorgan CEO Jamie Dimon believes that bitcoin has no intrinsic value and regulators will “regulate the hell out of it.” His investment bank, however, is currently offering multiple crypto investments to clients. What do you think about JPMorgan’s analysis? Let us know in the comments section below. View the full article

Investing platform Public, with over 1 million users, is rolling out cryptocurrency trading. “Crypto is gaining momentum as a compelling asset class for millions of investors,” the company said. Public Launches Cryptocurrency Trading Investing platform Public describes itself as “the investing social network where members can own fractional shares of stocks and ETFs [exchange-traded funds], follow popular creators, and share ideas within a community of investors.” The company announced Thursday: Today, we’re adding crypto on Public. Members will be able to buy, sell, and hold crypto assets in the same app they use to manage their stock market portfolios. “Members can now explore ten cryptos in the app: bitcoin (BTC), ether (ETH), cardano (ADA), dogecoin (DOGE), litecoin (LTC), bitcoin cash (BCH), stellar (XLM), ethereum classic (ETC), dash (DASH), and zcash (ZEC),” the company detailed. “The offering will be rolled out to eligible members gradually over the next several weeks.” Users on Public can invest with as little as $1 when the feature is available to them. The company said it has more than 1 million members, 90% of whom are first-time investors. After a fundraising round in February, the company’s valuation reportedly rose to $1.2 billion. Actor Will Smith is among the investors of the company. Public competes with platforms like Robinhood but is much smaller. Trading of cryptocurrencies on Public is powered by Apex Crypto, which provides cryptocurrency execution and custody services. Apex Crypto currently does not have a Bitlicense so Public’s new crypto feature will not be immediately available to residents of New York. Furthermore, Public currently does not provide a crypto wallet but said it is working toward offering one in the future. The investment company wrote: Crypto is gaining momentum as a compelling asset class for millions of investors. What do you think about Public offering trading in cryptocurrencies? Let us know in the comments section below. View the full article

Wall Street is often touted as the place where dreams come to life, but the world’s economic epicenter can also be an absolute nightmare. From brokers screaming at each other across trading floors to the modern electronic trading systems of today, money talks in Wall Street. However, while the NYSE houses over $28.5 trillion in assets, there’s still a lot left unsaid. On Wall Street, it is believed that history doesn’t repeat itself, but rhymes. The world’s financial systems have failed consistently over time, but when Phemex’s founder Jack Tao initially joined Morgan Stanley in 2009, nothing could have prepared him for the restrictive design financial markets utilized towards retail investors. From censoring trades inflating fees to conducting deals with exclusive partners away from the public’s attention, Jack started seeing the system as it was — skewed in favor of the rich and influential. The name ‘Phemex’ comes from two words — ‘Pheme,’ the Greek God of fame, who was a conduit for the public’s opinion, and ‘MEX’ (short for mercantile exchange). Phemex believes our financial systems can be better, but only when everyone has an equal footing, and no one’s views can eclipse the others. Jack saw the potential for a whole new world of financial services — one where everything was reset, and everyone was given a fighting chance. During his search to figure out ways to implement his design, Jack eventually discovered blockchain. His adventure began as a Bitcoin miner, joining a reputed cryptocurrency exchange to begin investing into the technology. However, technical loopholes and poor regulation caused Jack to lose a significant part of his holdings through an exchange malfunction. This was a problem. In his mind, digital assets represented the ideals of decentralized control, financial freedom, and individual sovereignty, but these ideals were only being implemented on the surface. Phemex’s origin story truly begins here. In 2019 Jack, along with eight other Morgan Stanley executives, founded Phemex to enable a blockchain-powered future for the world’s economies, where power would never become saturated within a select few, and opportunities could never be stifled. Peddling Freedom The concept of money has remained centralized from the start. Before Bitcoin, the idea that a currency could hold value without a trusted intermediary was completely foreign. Blockchain is humanity’s response to the inefficient management of capital by centralized entities, allowing for censorship-resistance, distributed control, and trustless value transfer without borders. In the last two years alone, Phemex has expanded into one of the top-ranking global derivatives exchanges in the cryptocurrency industry, boasting a user-base of 1.5 million, with a quarterly trade volume of over $266 billion. Designed from scratch by a squad of Wall Street veterans, Phemex was made to bring financial services to the masses using its intuitive design, lightning-fast trading engine, and positive approach to community feedback. With its team of experts in the realm of finance, Phemex is marching towards its goal of being the most secure and dependable digital asset exchange in the world. Break Through, Break Free The general sentiment that inefficient middlemen spoil the system catalyzed the birth of cryptocurrencies, and blockchain technology offers people the ability to trade without restrictions. The traditional stock market consists of roughly $80 trillion in assets, and with so much money on the line, it can be hard to remember that there’s a real person involved behind every shifting market metric. This month, Phemex is also giving its user interface a complete overhaul, including a full redesign of its visual design so users can more easily take part in the ongoing blockchain revolution. Contrary to popular belief, the world’s financial systems weren’t designed to be unfair, but that doesn’t change the fact that they are. Trading is fundamentally competitive, but that doesn’t mean the competition can’t be unbiased. Phemex wants to power an economy fueled by freedom, equal opportunity, and organic growth by allowing its users to make meaningful market contributions on their own terms. By removing barriers created by exclusivity or privilege, Phemex offers a platform where winners are decided based on their abilities and foresight — not their connections. Cryptocurrency investors are on an adventure to break through the obstacles formed by the world’s traditional financial ecosystems. Carve your own path, and break free with Phemex. 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

About five years ago, Bitcoin.com News reported on the notorious Pepe the frog getting added to the blockchain collectible world after the non-fungible token (NFT) cards were minted on the Counterparty protocol in 2016. Now the creator of Pepe the frog, Matt Furie, has added his flare to the mix with a special NFT featuring his original green amphibian creation. Crypto Fans Get Their First Introduction to Counterparty Rare Pepe NFTs in 2016 Back in 2005, when Matt Furie introduced Pepe the frog to the world, he did not expect it to garner such virality across the web. At the time, he didn’t even know what a meme was when he crafted the green frog that is now shared far and wide across the web. More than ten years later, in 2016, Pepe the frog was a legend and cryptocurrencies were in the midst of changing course toward another climactic bull run. In October 2016, Bitcoin.com News reported on the Rare Pepe blockchain cards that were introduced via the Counterparty blockchain. At the time, our newsdesk noted that “Rare Pepes are cards depicting the infamous frog, traded as XCP assets over the Bitcoin (BTC) blockchain much like Spells of Genesis cards.” Since then, the Rare Pepe Directory indicates the team minted a total of 36 series featuring the internet’s favorite green frog and many other characters. Five years later in 2021, old NFTs like Nilicoins, Rare Pepe, and Curio Cards saw fresh demand. In fact, some of the Rare Pepe cards that are ultra-rare have sold for hundreds of thousands of dollars. Opensea features old Rare Pepe cards and people have been selling Lord Kek dust. Rare Pepe Wallet Creator: ‘And With That, the Rare Pepe Directory Is Complete’ On October 5, the NFT marketplace chainsaw.fun and Matt Furie’s Pegz NFT project introduced Furie’s FEELSGOODMAN Rare Pepe card. On Twitter, Chainsaw wrote: “Chainsaw NFT, Pegz DAO, and Matt Furie are ecstatic to announce the auction of the Matt Furie FEELSGOODMAN Rare Pepe. A piece of blockchain history, originally minted in 2016.” Chainsaw added: A collaboration with rarepepewallet.com creator @wasthatawolf, we see this Rare Pepe as a peace treaty of sorts, between bitcoin and ethereum, between Pepe lovers of all shapes and sizes. After the Chainsaw announcement, the creator of the Rare Pepe Wallet, @wasthatawolf said: “And with that, the Rare Pepe Directory is complete.” On the Chainsaw website, the advertisement for the NFT Furie crafted explains that the team of creators have a “desire for this Pepe to bring peace between BTC and ETH communities.” The announcement for the auction — which aims to go live on Thursday — adds: 500 cards issued, 400 burned, 99 will remain in the Pegz DAO, and ONE is being auctioned here. “Pegz DAO recognizes Pepe as an icon of great cultural significance, one that can, and has been, appropriated by dark forces,” the NFT creators noted. “We recognize that one cannot own all the frogs, but our hope is that our stewardship will lead to a predominance of feel good amphibians now and forever.” What do you think about the Matt Furie crafted Rare Pepe NFT trading card? Let us know what you think about this subject in the comments section below. View the full article

Members of the parliament in Kazakhstan have proposed the establishment of a state register for cryptocurrency farms operating in the country. Alarmed by the growing consumption of energy in the sector, the lawmakers also want to charge miners a higher price for the electricity they use. Mazhilis Members Want Miners in Kazakhstan to Register With Government, Pay More for Power A group of deputies from the Mazhilis, the lower house of Kazakhstan’s bicameral legislature, have voiced concerns over the growing electricity demand. The parliamentarians believe the surge is due to the influx of crypto mining companies into the country, attracted by its low energy prices. Members of the People’s Party of Kazakhstan have put forward proposals to deal with the escalating situation. According to a report by Tengrinews, the lawmakers have urged Deputy Prime Minister Roman Sklyar to create a special register for crypto farms that mint digital currencies in the country. Zhambyl Ahmetbekov, one of the deputies, noted that the increasing number of mining entities moving to the Central Asian nation significantly affects the volume of available energy. Foreign miners consume enormous amounts of electricity but they receive their revenues abroad, bringing no benefit to Kazakhstan, he pointed out, further stating: In this regard, it is proposed to create a legislative register to account for the so-called mining farms and introduce a special increased electricity tariff for them. Besides the higher electricity rate, the Mazhilis members have also called for the reintroduction of differentiated tariffs for the respective time zones of the day. Thus, prices will take into account peak hours of consumption and grid loads. The proposals come after Kazakhstan’s energy minister Magzum Mirzagaliev revealed that power consumption this year jumped by 7% in comparison with 2020. “This is a very big increase,” the official said at a press conference last week, making it clear that the government is considering restrictions on mining facilities. The spike in demand is largely due to the growing number of data centers devoted to cryptocurrency mining, Mirzagaliev told reporters. At the same time, he stressed that Kazakhstan needs to develop its crypto mining sector and announced the country intends to build new power plants with a combined 3,000-megawatt capacity in the next five years. Amid an ongoing crackdown on bitcoin mining and other crypto-related activities in China, the region of Central Asia has attracted many businesses from the industry with its cheap energy. However, in Kazakhstan miners compete for electricity with other industries and households, which is worrying authorities in Nur-Sultan. In June of this year, President Kassym-Jomart Tokayev signed a law amending the country’s legislation “on taxes and other obligatory payments to the budget.” The bill, adopted in parliament earlier that month, introduced a surcharge of 1 Kazakhstani tenge (approx. $0.0023) per kilowatt-hour used by cryptocurrency miners. The new fee will be imposed on Jan. 1, 2022. Do you think Kazakhstan will introduce restrictions for cryptocurrency miners due to its power shortages? Tell us in the comments section below. View the full article

American politicians have been clamoring about the U.S. facing a significant debt crisis and the debt ceiling putting the country at risk of default. Joe Biden spoke about the debt ceiling and told Republicans to “just get out of the way” when it comes to the decision. Meanwhile, a number of U.S. bureaucrats are floating the idea of minting a $1 trillion platinum coin in order to magically bolster the treasury with cash. Trillion-Dollar Coin Concept Strongly Considered by US Politicians, Former US Mint Director Says Platinum Coin Can Be Minted in Mere Hours Simply creating new fiat out of thin air these days is an extremely popular trend, and it seems that many politicians worldwide have not considered the history of economies that have been destroyed by excessive monetary expansion. In the U.S., public officials have been discussing the country’s debt ceiling and whether or not America will default on what it owes. Speaking at a White House news conference, U.S. president Joe Biden stressed: “Raising the debt limit comes down to paying what we already owe… not anything new.” Biden says that Republicans are stonewalling the need to raise the debt limit and he’s asked the party to simply “get out of the way so you don’t destroy [the country].” Meanwhile, a number of public officials and mainstream media outlets are discussing the idea of minting a $1 trillion platinum coin to save the economy from disaster. It’s not a joke and it is being strongly considered by U.S. politicians who are fans of heterodox macroeconomic concepts like Modern Monetary Theory (MMT). Moreover, thanks to an interesting piece of legislation, the executive branch — without congressional approval — can mint coinage of any denomination as long as the currency is made from platinum. Additionally, Axios reporter ​​Felix Salmon explains that even if Janet Yellen doesn’t tell the public, she could “quietly instruct the Mint director to take those steps a day or two in advance.” Salmon added: At that point, a coin could be struck in minutes at the West Point mint. Even if it then needed to be physically deposited at the New York Fed, that’s only a short helicopter ride away. Yellen Calls the Coin Idea a ‘Gimmick,’ MMT Proponent Rohan Grey Says the ‘Debt Ceiling Itself Can Be Viewed as One Big, Poorly Designed Accounting Gimmick’ The unique law enabling the creation of such a coin was devised 20 years ago and intended to help bolster the production of commemorative coins. A financial debt crisis is not mentioned within the rules. The law specifically states that Janet Yellen, the U.S. Treasury secretary can “mint and issue platinum bullion coins and proof platinum coins in accordance with such specifications, designs, varieties, quantities, denominations, and inscriptions as the secretary, in the secretary’s discretion, may prescribe from time to time.” While Yellen dismissed the idea on Tuesday alongside a group of Democrats, Philip Diehl, former director of the United States Mint, says the decision could still be made. The trillion-dollar platinum coin could be minted “within hours of the Treasury Secretary’s decision to do so,” Diehl remarked. Yellen described the idea as a “gimmick” and told CNBC reporters that “what’s necessary is for Congress to show that the world can count on America paying its debt.” The CNBC report quotes MMT proponent Rohan Grey’s take on the matter who said “sure it is” a gimmick when referring to Yellen’s statements. “The fact that (the coin) represents an accounting gimmick is a source of its strength, rather than a weakness,” Grey explains in a paper he wrote in the Kentucky Law Journal and shared with CNBC. “The idea of ‘fighting an accounting problem with an accounting solution’ is entirely coherent… the debt ceiling itself can be viewed as one big, poorly designed accounting gimmick.” What do you think about the trillion-dollar platinum coin idea? Let us know what you think about this subject in the comments section below. View the full article

SEC Chairman Gary Gensler says that the SEC has no plan to ban cryptocurrencies as China has done. He noted that it would be up to Congress to make such a decision. Recently, Federal Reserve Chairman Jerome Powell similarly said that the Fed had no intention to ban or limit the use of cryptocurrencies. SEC Won’t Ban Cryptocurrencies The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, answered a question about whether there is a plan to ban cryptocurrency during a hearing before the U.S. House Committee on Financial Services Tuesday. The four-hour virtual hearing titled “Oversight of the U.S. Securities and Exchange Commission: Wall Street’s Cop Is Finally Back on the Beat” was hosted by Committee Chairwoman Maxine Waters and Ranking Member Patrick McHenry. During the meeting, Rep. Ted Budd from North Carolina asked Gensler if he had any plans to ban cryptocurrencies. The congressman began by stating: “China has been on a warpath against cryptocurrencies, it seems since 2013. We’ve seen them implement bans on mining, initial coin offerings [ICOs], cryptocurrency exchanges, and their most recent move, an outright ban on cryptocurrencies themselves.” Congressman Budd asked: “Chairman, do you support what China has done, and is the SEC planning on implementing similar bans?” Gensler replied: I’m familiar with a number of the things that you mentioned in terms of the People’s Republic of China. I think our approach is really quite different. “It’s a matter of how do we get this field within the investor and consumer protection that we have, and also working with bank regulators and others,” the SEC chairman continued. He also stressed the need to ensure that the Treasury Department has crypto within anti-money laundering (AML) laws and tax compliance, adding that there is also “the financial stability issue that stablecoins could raise.” Since Gensler did not directly respond about any plans to ban crypto, Rep. Budd reiterated his question: “But no bans that you are interested in implementing via the SEC as China has done, really to funnel everyone through their own digital currency?” The SEC chairman replied: No, that would be up to Congress. “We have been working with the authority you’ve given us,” Gensler clarified. He added that many tokens do meet the tests of being a security, emphasizing that it is important to “bring them within the investor protection remit of the SEC.” Recently. Rep. Budd also asked Federal Reserve Chairman Jerome Powell whether the Fed had any plans to ban cryptocurrency. Powell similarly said there was no intention to ban or limit the use of cryptocurrencies. What do you think about Gary Gensler’s comments? Let us know in the comments section below. View the full article