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Amid trouble with the U.S. Securities and Exchange Commission (SEC), global cryptocurrency exchange Coinbase unveils its plan to raise $1.5 billion by selling bonds. Coinbase Plans to Issue $1.5 Billion in Bonds Coinbase Global Inc. (Nasdaq: COIN) announced Monday “its intention to offer, subject to market conditions and other factors, $1.5 billion aggregate principal amount of its Senior Notes due 2028 and 2031 in a private offering.” The company explained that the notes “will be fully and unconditionally guaranteed by Coinbase Inc.” and “The interest rate, redemption provisions, and other terms of each series of notes will be determined by negotiations between Coinbase and the initial purchasers.” The announcement details: Coinbase intends to use the net proceeds from the offering for general corporate purposes, which may include continued investments in product development, as well as potential investments in or acquisitions of other companies, products, or technologies that Coinbase may identify in the future. The global crypto exchange further declared that “Neither the notes nor the related guarantee have been, or will be, registered under the Securities Act or the securities laws of any other jurisdiction.” This announcement followed Coinbase revealing that it had received a Wells Notice from the SEC regarding its lending product. The regulator intends to sue the company if the product is launched but Coinbase said: “We don’t know why … We got no explanation from the SEC.” What do you think about Coinbase issuing bonds to raise $1.5 billion? Let us know in the comments section below. View the full article

PRESS RELEASE. AscendEX is thrilled to announce the listing of the iMe token (LIME) under the pair USDT/LIME on Sept. 14 at 1 p.m. UTC. iMe is an innovative, Telegram-based messaging platform with extended functionality and DeFi capabilities. iMe is the only project to introduce DeFi functionality on a messaging platform. iMe has integrated Artificial Intelligence, “Topics,” an alternative to Telegram folders, built-in Google Translations, a functional Cloud with Albums, and many other unique developments on its platform. Similar to the functions offered by Telegram, iMe users can send messages, photos, videos, and any file type (doc, zip, mp3, etc.) while creating groups or channels to broadcast to their audience. Users can record contacts on their phones and find people by their names. A hybrid of email and SMS, iMe can handle personal and business messaging needs with the added support of end-to-end encrypted voice and video calls. LIME, the protocol’s native token, allows holders to make in-app payments and access premium features. LIME token holders can vote on protocol initiatives (Governance) and participate in yield farming, staking, and partner bonuses. The Lime token aims to be used worldwide as a crypto asset with convenience and accessibility for those users with little or no experience with crypto assets. The token advances DeFi capabilities on the iMe platform, being the first crypto asset deeply integrated into the Telegram client structure. iMe’s messenger user environment provides exciting new features for better use and broader adoption of the platform. About AscendEX AscendEX is a global cryptocurrency financial platform with a comprehensive product suite including spot, margin, and futures trading, wallet services, and staking support for over 150 blockchain projects such as bitcoin, ether, and ripple. Launched in 2018, AscendEX services over 1 million retail and institutional clients globally with a highly liquid trading platform and secure custody solutions. AscendEX has emerged as a leading platform by ROI on its “initial exchange offerings” by supporting some of the industry’s most innovative projects from the DeFi ecosystem such as Thorchain, xDai Stake, and Serum. AscendEX users receive exclusive access to token airdrops and the ability to purchase tokens at the earliest possible stage. To learn more about how AscendEX is leveraging best practices from both Wall Street and the cryptocurrency ecosystem to bring the best altcoins to its users, please visit www.AscendEX.com. For more information and updates, please visit: Website: https://ascendex.com Twitter: https://twitter.com/AscendEX_Global Telegram: https://t.me/AscendEXEnglish Medium: https://medium.com/ascendex About iMe iMe is an innovative, Telegram-based messaging platform with extended functionality and DeFi capabilities. iMe is the only project to introduce DeFi functionality on a messaging platform. For more information and updates, please visit: Website: https://www.imem.app/ Twitter: https://twitter.com/ImePlatform Telegram: https://t.me/ime_en Medium: https://imesmartplatform.medium.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. View the full article

Approximately nine days ago, the total value locked (TVL) in decentralized finance (defi) across various blockchains was around $176 billion. At that time, bitcoin ($49,937) and ethereum ($3,886) fiat values were much higher. Despite the fact that the crypto economy and these coins have dipped in value, the TVL across defi has continued to rise, climbing more than 5% to $185.32 billion. Defi TVL Across All Chains Rises by More Than 5% Over 9 Days Decentralized finance (defi) has attracted billions of dollars and at the time of writing, the total value locked across a myriad of blockchains is around $185.32 billion. That’s approximately 5.113% higher than the TVL was nine days ago. At the time of writing, the TVL held in defi is $185 billion and more than 5% higher than it was nine days ago. Statistics from the defillama.com dashboard indicate that there’s been a 2.10% rise during the last day and the defi platform Aave has the highest dominance level in terms of TVL (7.40%). In the last day, Aave has increased 2.69%, but seven-day metrics indicate that Aave’s TVL is down 4.23% to $13.1 billion. One would assume that the TVL held in defi would have dropped in value after the price of ethereum (ETH) shed a few percentages in value. However, that’s not the case, because a number of other blockchains saw TVL values rise. Total value locked on all defi compatible blockchains on Tuesday. In our last report on the subject, there was around $130 billion in ether locked in defi. Today, metrics show that the current ether TVL is $128.1 billion. Seven-day ether TVL changes show ether’s TVL slipped by 0.23% and Solana’s TVL jumped by 100% in a week’s time. Solana, Terra, Avalanche, Arbitrum Weekly Defi TVL Percentages Climb Higher Solana (SOL) has positioned itself as the third-largest defi TVL in the entire crypto-economy with $11.54 billion locked on Tuesday. Terra’s (LUNA) TVL has increased a great deal as well, spiking 47.66% to a TVL of $10.38 billion today. Both Binance Smart Chain (BSC) and Polygon (MATIC) have lost TVL percentage points, as they are older blockchain protocols in comparison to newer concepts like SOL, LUNA, AVAX, and Arbitrum. While BSC is down 1.09% during the last seven days, it is still the second TVL leader in terms of defi blockchains, with $16.6 billion. TVL stats for 12 different defi blockchains on September 14, 2021. Similarly, Polygon’s TVL is the fifth-largest in defi and currently has around $4.71 billion locked. Avalanche (AVAX) is another defi newbie that has been moving up the ranks in terms of TVL held in defi. In a week’s time, AVAX’s TVL has risen 17.44% to $2.37 billion. Arbitrum One has increased by a massive 7,449% to its current 1.76 billion TVL. According to stats, the meme token NYAN has driven a massive amount of money toward Arbitrum One’s protocol. Other defi chains that saw notable increases in TVL include networks like Okexchain, Celo, and Osmosis. What do you think about the total value locked (TVL) in defi across various blockchains rising higher in value? Let us know what you think about this subject in the comments section below. View the full article

According to reports on social media, crypto forums, onchain metrics, and the Solana Status Twitter account indicate that Solana’s blockchain has stalled. Solana mainnet-beta suffered a four-hour downtime and is still down after a technical glitch. ** Editor’s Note: At 3:30 p.m. (EST) on Sept. 14, 2021, this post was updated with a statement written by the Solana Status Twitter account. At the time of update, Solana’s issues still persist and the community is preparing a fix. Solana’s Network Stalls In recent times, solana (SOL) joined the top ten crypto assets by market valuation and today, SOL’s market cap position is the seventh-largest. At the time of writing, SOL has been exchanging hands for $159 per unit and is down 2.8% during the last week. @phantom I'm locked out of my Solana. It says "unable to connect to Solana" and no help anywhere on your website that makes sense to someone that doesn't know advanced coding. I shouldn't need to reconfigure my computer to access my Solana — MattyG (@Mattygxrp) September 14, 2021 On September 14, the protocol suffered an error and at the time of writing, the chain stopped for a total of four hours so far, as the outage is still ongoing. On Tuesday, the Twitter account Lido Finance tweeted: A tx overload has caused an OOM error in most Solana nodes, including validation nodes. The network is stalled, engineers in the team and the node operator community are working towards a resolution. Validators are preparing for a potential restart if necessary. Lido Finance also told its Twitter followers to follow the ‘Solana Status’ Twitter account for more information. “Solana mainnet-beta is experiencing intermittent instability,” the Solana Status account detailed in a pinned Tweet. “This began approximately 45 minutes ago, and engineers are investigating the issue.” Solana applications like explorer.solana.com have been displaying error messages like: “There was a problem loading cluster stats,” and popular SOL wallets like Phantom have had connection issues. Estimates Say Solana Block Production Could Take a While Some have said that the fix could take anywhere between 24 hours to 48 hours to fix the issues. “With transactions being filtered out, and failing commits, and validators need to upgrade and deploy… Will take about 24-48 hrs to fix,” the Twitter account called ‘bruce.codes’ explained. The last block on Solana was produced almost 40 minutes ago. Not fantastic pic.twitter.com/yLXjYdSx9L — Larry Cermak (@lawmaster) September 14, 2021 In another tweet, ‘bruce.codes’ wrote that a “Solana fix [is] being deployed in v1.6.23.” The Solana Status Twitter account also added to the account’s initial outage tweet and said: Resource exhaustion in the network is causing a denial of service, engineers are working towards a resolution. Validators are preparing for a potential restart if necessary. Solana now joins the list of networks that have stalled by failing to produce blocks. For instance, back in February 2020, the IOTA blockchain was down for more than 11 days. The EOS blockchain has had issues with block production as well. Cardano has had issues with block production in the past and Solana had problems with block production in December 2020. Furthermore, while Solana managed to knock XRP down a notch in recent times, XRP has once again managed to re-capture the sixth-largest market capitalization worldwide. At the time of writing, XRP is a touch over $3 billion ahead of solana’s (SOL) overall valuation. ** At approximately 3:12 p.m. (EST) the Twitter account called Solana Status tweeted about the ongoing issue one hour after this article was published. “Solana Mainnet Beta encountered a large increase in transaction load which peaked at 400,000 TPS,” Solana Status tweeted. “These transactions flooded the transaction processing queue, and lack of prioritization of network-critical messaging caused the network to start forking.” The Twitter account added: This forking led to excessive memory consumption, causing some nodes to go offline. Engineers across the ecosystem attempted to stabilize the network, but were unsuccessful. The validator community elected to coordinate a restart of the network – the community is preparing a new release, and instructions will be posted in Discord. What do you think about the problems the Solana blockchain has been facing on Tuesday? Let us know what you think about this subject in the comments section below. View the full article

The infamous dogecoin was one of the first meme-based digital currencies and it’s safe to say that the coin inspired a myriad of meme-focused or joke tokens meant to be used for fun. However, while dogecoin has had a phenomenal 2021 rising 8,515% in 12 months, during the last month dogecoin prices have stagnated a great deal. At one time, dogecoin held the fourth largest market capitalization but today, the original meme-coin’s overall market valuation has slid to the ninth position. Dogecoin Slips to the Ninth Largest Market Position After Price Highs Subside, 67% Down From ATH At the beginning of the year, many people said that “you can’t keep a good dog down” after dogecoin (DOGE) started its triumphant price surge and continued to rise higher month after month. That’s because dogecoin has been around for years, and for many of those years, DOGE traded for less than a U.S. penny per unit. But thanks to a lot of social media activity, mainstream media headlines, celebrity and brand-name mentions, and a few tweets from Elon Musk, dogecoin reached an all-time high of $0.731 per coin on May 8, 2021. Moreover, that week historical data shows that dogecoin (DOGE) held the fourth largest market cap on May 9. At the time, the DOGE market cap was above ADA’s overall market valuation, with $73.8 billion that week. However, the $0.73 high did not last long and by the following week, historical metrics indicate that DOGE slid to the fifth largest market capitalization with cardano (ADA) once again taking the lead on May 16. Today, DOGE markets have not been performing so hot and the meme-based crypto asset is down 67% from its all-time price high. Dogecoin 30-Day Values Slide 18%, Mysterious ‘DH5y’ Dogecoin Whale Still Holds Over 36 Billion DOGE Dogecoin has a whopping 131,282,808,198 circulating supply today and it still has whales that own large percentages of this supply. The infamous “DH5y” dogecoin address holds a massive 36.7 billion DOGE today. On Tuesday, the overall market valuation for dogecoin (DOGE) is $31.3 billion and there’s around $1.1 billion in global dogecoin trade volume. Metrics show that USDT is the largest pair traded with DOGE on Tuesday as 70% of all swaps with dogecoin are traded with tethers. USDT/DOGE volumes are followed by USD (11.41%), BUSD (5.33%), BTC (5.21%), and TRY (3.17%). The top exchange seeing the most dogecoin action on Tuesday is Coinbase, followed by Kraken. Liquid, Bittrex, and FTX crypto exchanges follow Coinbase and Kraken dogecoin trade volumes, respectively. Dogecoin holders have seen their assets slide by 4.8% in the last day alone and 22.7% during the last week. While 14-day stats for DOGE saw a 12.1% loss, 30-day stats indicate dogecoin’s fiat value shed 18.2%. What do you think about dogecoin’s lackluster market action and how the meme-coin has slid to the ninth position in terms of market cap? Let us know what you think about this subject in the comments section below. View the full article

Following the fake news of its partnership with Litecoin, Walmart Inc. says it is looking into how the fraudulent press release was issued. The Litecoin Foundation and Charlie Lee are also investigating the matter. In addition, Globenewswire says it will also work with authorities “to request – and facilitate – a full investigation, including into any criminal activity associated with this matter.” Walmart Responds to Fake News of Its Partnership With Litecoin The retail giant issued a press release in response to the fake news of its partnership with Litecoin Monday. “Walmart was the subject of a fake news release issued on Monday, Sept. 13, that falsely stated Walmart announced a partnership with Litecoin (LTC),” the company wrote, adding: Walmart had no knowledge of the press release issued by Globenewswire, and it is incorrect. Walmart has no relationship with Litecoin. Walmart spokesman Randy Hargrove told CNBC that the retailer has been in touch with the newswire company to investigate how the false press release got posted. Globenewswire took down the fake press release late Monday and issued a “notice to disregard” across its service. The company also said that it has put in place enhanced authentication steps to prevent a similar incident from occurring in the future. The press release distribution company declared: We will work with the appropriate authorities to request – and facilitate – a full investigation, including into any criminal activity associated with this matter. Many major news outlets ran the fake story, including Reuters and CNBC. This led to an instant spike in the price of litecoin (LTC). However, the gains were quickly wiped out when Walmart denied the news. Meanwhile, the Litecoin Foundation, a non-profit organization that promotes the cryptocurrency, issued a statement on the matter. The foundation is run by litecoin creator Charlie Lee, who serves as its managing director. “We have no information as to where this idea or the release to the press originated,” the foundation wrote, confirming that it “has not entered into a partnership with Walmart of any kind.” It further noted that the quotes in the press release did not come from Lee. Lee told Reuters in an email that the hoax was being investigated but little headway had been made. The Litecoin creator added that he currently owned only five LTC and had little incentive to issue the fake announcement himself. He also commented on Litecoin’s verified Twitter handle (@litecoin) sharing the fake announcement. The tweet was deleted a few hours after Walmart denied the news. Lee admitted: It was our mistake for retweeting using @litecoin. We will make sure to have stricter controls on our social media accounts so that something like this doesn’t happen again. Who do you think is behind this fake Walmart-Litecoin partnership news? Let us know in the comments section below. View the full article

The central bank of Russia has advised commercial banks on how to identify and block cards and wallet accounts used by shady businesses. Along with illegal forex dealers and financial pyramids, the regulator has also listed crypto exchangers as suspicious entities. New AML Recommendations by Bank of Russia Target Cryptocurrency Exchangers Russia’s central bank has issued a set of criteria that banks can use to identify cards and e-wallets used by companies operating in the shadow economy, Forklog reported. According to the monetary authority, these include not only illegal forex dealers and financial pyramids, but also cryptocurrency exchangers. The bank turns particular attention to transactions between private persons as the regulator claims such entities often use accounts registered under false names to make and receive payments. Russian banks are expected to analyze and identify suspicious transactions as part of their anti-money laundering (AML) efforts and terminate services. Among the operations considered a cause of concern, Bank of Russia lists deposits and withdrawals of cash when they are more than 30 a day. A large number of individual payers or recipients, over 10 per day or 50 per month, should also trigger action on the part of financial institutions. The same applies to frequent transactions when the total amounts to at least 100,000 Russian rubles (close to $1,400) daily or 1 million rubles ($14,000) a month, the report details. Small intervals — of less than a minute — between deposits and withdrawals should also alarm bank officials. Accounts Not Used to Pay Utility Bills to Be Deemed Suspicious The Central Bank of Russia (CBR) advises commercial banks to also examine cases where the average remaining balance at the end of each day does not exceed 10% of the average daily transaction volume in the course of a week. Accounts that are not used to cover utility bills or pay for goods and services can be blacklisted as well. A bank’s client may be considered suspicious if their transactions correspond to two or more of the described criteria. To identify such individuals, Bank of Russia further instructs banks to track digital fingerprints left by account holders including information identifying devices used to access and transfer the funds remotely. Bank of Russia has been opposing the legalization of cryptocurrencies and related activities while other Russian authorities have been going after websites spreading information about crypto trading and platforms providing access to exchange services. In July, the financial authority issued a recommendation against the listing of securities tied to crypto assets on Russian stock exchanges. Do you expect the central bank’s move to severely affect cryptocurrency exchange in Russia? Share your thoughts on the subject in the comments section below. View the full article

PRESS RELEASE. Sharjah, September 2021 – The Sharjah Research Technology and Innovation Park (SRTIP) issued its third Distributed Ledger Technologies license (DLT) to ZelaaPayAE. Focusing on numerous areas related to the exchange of value, ZelaaPayAE works strongly to advance tokenisation and through its multiple arms and divisions promotes non-fungible tokens (NFTs), payments infrastructures and various other blockchain applications. The CEO, Mr. Sahil Arora said, “We chose to set up at SRTIP because of their acute understanding of the space we operate in. They understood the requirement for an environment to test, experiment and simulate transactions where we can develop our fintech. The fundamental in the vision of ZelaaPayAE is to push and advance the blockchain space forward as a whole and it boasts an all-star strategically positioned list of partners and players including Tron, DigiByte, Klever Wallet and other stalwarts of the blockchain ecosystem from around the world.” ZelaaPayAE is also testing a point of sale technology that will allow luxury merchants to choose crypto currency or fiat from the same Debit Card with miniscule charges. The CEO of SRTIP, H.E. Mr. Hussain AlMahmoudi said, “we at SRTIP are always looking to breathe oxygen into our ecosystem of innovative startups and tech companies. We welcomed ZelaaPayAE, because of the problem solving tech that will help accelerate the merger of retail and fintech on a global scale. SRTIP has been extremely selective on which companies to issue DLT licenses to. Before we issue a license, we go through a long diligence process but in the end, we ask ourselves one more very important question. Does it help make the world a better place? We believe ZelaaPayAE will.” This license enables ZPAE to provide ancillary solutions based on blockchain which include tokenization, data management, inoperable and immutable record-keeping of Financial Transactions. As the venture advances, there is now an open alliance to go deeper with products and platforms that ZPAE operates even in the fin-tech domain to empower barter of goods through modes of exchange and its store-of-value. While SRTIP’s unique tech ecosystem and the licensing of DLT companies to work, engage and test is a turning point for ZelaaPayAE, it is exciting to see how this blockchain firm continues to grow and on its way to becoming a unicorn after already being an early pioneer in this unique industry amidst the sector’s incessant justification and debate between the continued relationship of the finance and technology sectors. Media contact: info@zelaapay.ae This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

U.K. Post Office’s Easyid app is adding the option to buy bitcoin starting this week. Through the free-to-use Post Office app, customers can access Swarm Markets, a regulated crypto exchange, to buy bitcoin and ethereum. Buy Bitcoin and Ether Using Post Office App The U.K. Post Office is introducing an option to buy cryptocurrencies via Easyid, its ID verification app. Post office customers who have verified their identity using the app can buy vouchers that can be redeemed for cryptocurrencies. The Easyid app will offer access to Swarm Markets starting this week, the Telegraph publication detailed, adding that the app has “tens of thousands of users.” Berlin-based Swarm Markets, a crypto trading platform regulated by German financial regulator, BaFin, announced Friday: Swarm Markets partnered with Yoti to offer Easyid mobile app users a safe and easy way to buy BTC and ETH vouchers via credit card or bank transfer — as well as access the world’s 1st licensed defi [decentralized finance] platform. According to the publication, “the Post Office will not receive commission on vouchers sold but is paid by Swarm Markets for use of its ID verification software.” The U.K. Post Office launched Easyid in August through a partnership with digital identity company Yoti. According to Yoti, Easyid is accepted at over 25,000 locations across the U.K., including 11,638 Post Office branches. A Post Office spokesman was quoted as saying: “Access to products and services are increasingly moving online and we’ve responded to this shift by launching our free-to-use app, Post Office Easyid, allowing people to build their own secure digital identity on their smartphone and enabling them to easily control and prove who they are to whichever business they want to interact with.” What do you think about the Post Office offering a way to buy bitcoin via its Easyid app? Let us know in the comments section below. View the full article

Greyp Bikes, a company founded by Croatian innovator and entrepreneur Mate Rimac, has integrated crypto payments into its online billing system. All of its high-tech cycling products can now be purchased using nine different coins thanks to a partnership with payment processor Paycek. Greyp Bikes Accepts Cryptocurrencies for Its Electric Bicycles Croatia’s Greyp Bikes, which is aiming to rank among technological leaders in the cycling world, has taken another innovative step. The company has introduced support for payments with nine major cryptocurrencies – BTC, ETH, BCH, XLM, XRP, DAI, EOS, USDT, and USDC – through a cooperation with Paycek, the country’s leading crypto payment processor. It recently announced: Greyp News Everybody! Cryptocurrencies can now be used to purchase Greyp bikes directly. “Greyp has always been at the forefront of technology in the biking world, so this was the next logical step to take in the further development of the brand,” the Sveta Nedelja-based manufacturer of high-performance e-bikes added. The company also noted that while customers had been able to buy its bikes with cryptocurrency even before the partnership with Paycek, crypto payments have now been streamlined and completely integrated into the online checkout process at its website, Greyp.com. Paycek is a platform developed by Croatian fintech startup Electrocoin. The payment processor has already helped other local companies to start accepting cryptocurrencies. Over 45 Tifon gas stations across Croatia introduced crypto payments through Paycek earlier this year while Electrocoin enabled Croatian Post to offer a crypto exchange service at its post offices two years ago. “The move should come as no surprise to anyone who monitors what Livno-born entrepreneur Mate Rimac does when it comes to both his cars and his bikes,” the Total Croatia news portal commented in its report on Greyp’s decision to integrate cryptocurrency payments. The Croatian entrepreneur launched Greyp Bikes in 2013 as a sister company of Rimac Automobili, a manufacturer of electric sports cars which he founded in 2009. The car company is now partially owned by VW Group’s Porsche and Hyundai. In July, Porsche and Rimac announced the establishment of a joint venture that will incorporate Volkswagen’s high-performance brand Bugatti. Greyp’s integration of cryptocurrencies is not the only such example in the cycling industry. U.K.-based company Toba Electric Bikes, which retails e-bikes manufactured by the Spanish brand BH, introduced support for BTC and BCH payments, and in 2019, released its own utility token in collaboration with SLP-centric trading platform Cryptophyl. Do you think we are going to see more partnerships like these in the cycling industry? Share your expectations in the comments section below. View the full article

On Sunday, digital currency markets have seen some slight improvements but overall since September 6, 2021, the $2.21 trillion cryptocurrency market capitalization is down 9.79% from $2.45 trillion. While dominant coins like bitcoin and ethereum have slid between 8-12% during the last week, a number of other digital assets have seen double-digit weekly gains and even double-digit percentage spikes during the last 24 hours. This Weekend’s Double-Digit Crypto Gainers The price of bitcoin (BTC) has faltered 8% during the last seven days and ethereum (ETH) has dropped by 12% during the week. Cardano (ADA) shed 4% and binance coin (BNB) lost more than 16% during the last seven days. The top ten crypto-asset XRP saw around 11.6% shaved off its market cap and dogecoin (DOGE) slid by 18.2% this past week. The only two crypto assets in the top ten standings include solana (SOL) up more than 26% this week and polkadot (DOT) up 5.5%. Prices taken for this weekend’s market update report were recorded on September 12, 2021, at 3:00 p.m. (Eastern Standard). Solana and polkadot are part of a group of decentralized finance (defi) tokens and ethereum (ETH) competitors that have been moving up the ladder in value. On Sunday, elrond (EGLD) spiked 27.5% during the last 24 hours and is up 70.2% this week. Osmosis (OSMO) is up 24.5% today and 57.5% during the last seven days. Tron (TRX) jumped 20.5% in 24 hours on Sunday and cosmos (ATOM) spiked by 20.1% in one day. 24-hour stats show avalanche (AVAX) is up 16.1% today and AVAX has risen 32.3% this week. Tether Commands Weekend’s Top Crypto Trade Volume Another top performer this weekend is algorand (ALGO) up 14% on September 12, and polkadot (DOT) is below ALGO’s standings. Kusama (KSM) has lifted by 10% today and sushi (SUSHI) from the Sushiswap decentralized exchange (dex) platform is up 7.4% today. Prices taken for this weekend’s market update report were recorded on September 12, 2021, at 3:00 p.m. (Eastern Standard). Sushi has lost 12% during the course of the last seven days, however. While solana (SOL) saw weekly gains, the coin is the third-largest losing coin on Sunday with a 5.6% loss in value. The top two coins that have lost the most fiat value this weekend include fantom (FTM) down 7.8% and icon (ICX) down 6.2% on Sunday. Coin market cap aggregators show there is $118 billion in trade volume among all 10,000+ crypto-assets in existence today. The stablecoin tether (USDT) commands the top trade volume today with $61.8 billion worth of swaps. Bitcoin (BTC) has around $27.3 billion in trades and ethereum (ETH) commands $18.1 billion in global trades. Cardano (ADA) is the fourth contender in terms of today’s 24-hour volume with over $6 billion in global swaps with ADA. Lastly, BNB has captured $4.6 billion in worldwide trade volume during the last 24 hours. What do you think about the groups of coins that saw double-digit 24 hour and seven-day percentage gains? Let us know what you think about this subject in the comments section below. View the full article

Arbitrum, a second layer expansion rollup for Ethereum, has breached the $1.5 billion of total value locked (TVL) in protocols using its services. The smart contract recorded an influx of more than 1 billion just today after a rumor started in social media that the protocol might be planning to issue its own token in the coming days. The second layer was launched on mainnet less than two weeks ago. Arbitrum Blows Past $1.5 Billion TVL Arbitrum, an L2 scaling solution for Ethereum, has reached a new milestone, breaking the $1.5 billion in TVL in less than two weeks since it launched in mainnet. It had a big influx of liquidity yesterday, with more than $1 billion entering the network according to info from L2Beat. Protocols in Ethereum are still adapting their structures to include Arbitrum services, but the layer has experienced sizable support, even when Ethereum heavy hitters like Compound and Aave still haven’t adopted it. Most users are flocking to the first farming platform in Arbitrum, called Arbinyan (related to the nyan cat meme). Arbinyan has 1.48 Billion TVL, meaning that almost all of the funds in Arbitrum have been moved to get the astounding yields the farm is offering (3,314.70% APY in the Nyan pool at the time of writing). Token Rumors However, there might be another reason why these funds have moved to the Arbitrum layer. A rumor about the possible issuance of a native token as an airdrop spread yesterday on social platforms like Twitter. Cryptocurrency influencer Cobie inquired about it, declaring: “ETH L2s (Optimism/Arbitrum) almost definitely gonna do a dydx/uniswap style retrospective token drop right?” However, apart from the rumor, Offchain Labs has not declared anything regarding the possible issuance of a native token. In fact, Arbitrum had to clarify the subject in its official Twitter account. It declared: Reminder: there is no Arbitrum token. Anything claiming to be an official Arbitrum token is a scam. Ethereum users are always on the lookout for protocols that lack a native token, waiting for a possible airdrop to happen. Last week, Dydx, a decentralized derivatives exchange, released the airdropped native token for its users. The protocol gave some of its heavy users $50K for using the platform. This is why there is such a buzz on the possible issuance of a native token by the protocol. What do you think about Arbitrum’s native token issuance rumors? Tell us in the comments section below. View the full article

The head of the Bank of International Settlements (BIS) Innovation Hub, Benoît Cœuré, has urged central banks to act now on central bank digital currencies (CBDCs) to compete with initiatives in the private sector, including cryptocurrencies. “CBDCs will take years to be rolled out, while … crypto assets are already here,” he said. BIS Says Central Banks Need to Hurry up With CBDCs Benoît Cœuré, head of the BIS Innovation Hub, talked about central bank digital currencies (CBDCs) at the Eurofi Financial Forum, Ljubljana, Friday. He called on central banks to urgently develop CBDCs to compete with payment initiatives in the private sector, including cryptocurrencies. “Today, the financial system is shifting under our feet,” he explained. “Big techs are expanding their footprint in retail payments. Stablecoins are knocking on the door, seeking regulatory approval. Decentralized finance (defi) platforms are challenging traditional financial intermediation. They all come with different regulatory questions, which need fast and consistent answers.” Asserting that “CBDC will be part of the answer,” he explained: “A well-designed CBDC will be a safe and neutral means of payment and settlement asset, serving as a common interoperable platform around which the new payment ecosystem can organize.” The BIS official added: “It will enable an open finance architecture that is integrated while welcoming competition and innovation. And it will preserve democratic control of the currency.” He opined: The time has passed for central banks to get going. We should roll up our sleeves and accelerate our work on the nitty-gritty of CBDC design. CBDCs will take years to be rolled out, while stablecoins and cryptoassets are already here. This makes it even more urgent to start. Cœuré explained that the BIS Innovation Hub is helping central banks develop CBDCs. “We already have six CBDC-related proofs of concept and prototypes being developed in our centres, and more to come,” he revealed. Cœuré added: “A CBDC’s goal is ultimately to preserve the best elements of our current systems while still allowing a safe space for tomorrow’s innovation. To do so, central banks have to act while the current system is still in place – and to act now.” According to the Atlantic Council’s CBDC tracker, 81 central banks are currently exploring their own digital currencies. Among them, five have launched, 14 are being piloted, 16 are under development, and 32 are being researched. Among the central banks currently studying CBDCs is the European Central Bank (ECB), which recently announced the official launch of a two-year investigation of a digital euro. “Once the investigation phase has ended, we will decide whether or not to start developing a digital euro,” the bank said. What do you think about the BIS asking central banks to speed up CBDC development? Let us know in the comments section below. View the full article

After non-fungible token (NFT) sales soared during the month of August, the first week of September’s NFT sales has been awful. Statistics show the number of sales in mid-August tapped a high of 193,693 sales but plummeted 86% to 27,053 sales on September 10. Metrics from the most used marketplaces show that volume has slid considerably following the same fallout cryptocurrency market have felt during the last four days. NFT Sales and Trade Volumes Plummet So far, September has not been the best month for NFTs and sales in this space. Last month, non-fungible token (NFT) markets saw record sales and a number of individual NFTs from the hottest collections sold for top dollar. According to nonfungible.com’s market history, on August 16, 193,693 sales were settled and that number subsequently fell 62% to 73,154 sales on August 22. However, from 73K sales spiked 88% to 138,109 sales on August 30 and ever since then, sales have been on a free fall to Friday’s 27,053 sales on September 10. Opensea Volumes Drop More Than 50%, Popular NFT Collection Volumes Slide 80% Lower Dappradar.com metrics show that the most popular NFT marketplace, Opensea, has suffered a loss of 52.47% during the last seven days in terms of volume. Opensea still pulled in $639.6 million in sales during the last week but also lost around 6% of NFT traders. Foundation’s volume is down 22% during the last seven days and Rarible’s volume slid 28%. Tezo’s NFT market called Hic et nunc has lost 26% and Superrare.co’s volume is down 67% on September 11, 2021. Interestingly, Decentraland’s volume jumped by 17% this past week and the Wax blockchain Atomic Market rose by 1.44% this week. NFT collections have suffered this week as well when last month many of the top NFT collections saw significantly-sized sales. Seven days statistics from Dappradar show Axie Infinity’s NFT trade volumes have decreased by 0.85% to $147 million. The NFT volumes from the Loot (for Adventurers) collection slid by more than 80% during the last seven days. Bored Ape Yacht Club (BAYC) dropped 46% and Cryptopunks volumes dipped by 61% during the last week. What do you think about non-fungible token (NFT) sales and trade volumes plummeting after August’s record sales? Let us know what you think about this subject in the comments section below. View the full article

Cryptocurrency mining should be registered as entrepreneurial activity and taxed as such, according to Anatoly Aksakov, chairman of Russia’s parliamentary Financial Market Committee. The lawmaker also thinks Russian digital currency regulations need refinement. Amendments Likely to Affect Mining, Taxation, Definition of Digital Currency Discussing upcoming changes in the legislation regarding digital currencies in Russia, head of the Financial Market Committee in the State Duma, Anatoly Aksakov, expressed his opinion that cryptocurrency mining should be added to Russia’s register of entrepreneurial activities and taxed accordingly. The treatment of crypto mining and the taxation of cryptocurrency-related operations are among the areas that are likely to be affected by the legal amendments to be adopted during the fall session of the Russian parliament. Speaking to Tass news agency on the sidelines of the Moscow Financial Forum this week, Aksakov elaborated: Since this is a type of entrepreneurial activity, obviously, it is necessary to enter it into the register, assign a corresponding code and introduce taxation. The parliamentarian was positive that amendments concerning digital currencies are to be expected as the Duma has already adopted on first reading a law dealing with the taxation of “in fact, cryptocurrencies.” Earlier this month, Chairman of the Committee on Legislation Pavel Krasheninnikov told Interfax that he hopes the law will hit the floor of the lower house again in the coming months. Anatoly Aksakov further noted that the use of the legal term pertaining to cryptocurrencies, as it’s now defined, causes confusion. The concept of “digital currency” can refer to a central bank digital currency (CBDC) issued by the Bank of Russia but it can be understood as cryptocurrency as well, the lawmaker explained. Aksakov thinks the two should be clearly distinguished. The Financial Market Committee chairman insisted more discussions are needed to determine what “digital currency” actually means. Although cryptocurrency is referred to as digital currency in Russian law, Aksakov pointed out that it is used as a financial instrument and financial asset for investment purposes rather than as a means of payment. The high-ranking member of the Russian parliament added that Bank of Russia’s powers to issue a digital ruble and maintain its circulation should also be defined. The monetary authority announced a plan to digitalize the national fiat currency last October. The central bank is preparing to issue a prototype of the CBDC by the end of this year. What are your expectations about the upcoming legal changes regarding cryptocurrencies and related activities in Russia? Let us know in the comments section below. View the full article

The Zimbabwean minister of finance, Mthuli Ncube, has once again talked up the potential advantages of using cryptocurrencies. In new comments made shortly after visiting the DMCC Crypto Centre in Dubai, Ncube raises the possibility that the country might use cryptocurrency-based solutions to lower the cost of remitting funds across borders. Understanding Cryptocurrencies Prior to making these remarks about cryptocurrencies, Ncube has previously urged Zimbabwe to “invest in understanding emerging innovations like bitcoin.” At the time, Ncube, who had just been appointed finance minister, told Zimbabwean authorities to emulate countries like Switzerland which he said were “investing in and understanding bitcoin.” However, in his latest positive comments about cryptocurrencies, Ncube said: I visited the DMCC CRYPTO CENTRE in Dubai, which is a fascinating incubation hub for crypto currency and payment solutions. Came across solutions that could lower charges for diaspora remittances. While some within Zimbabwe’s crypto community on Twitter have applauded Ncube for making such comments, many others are not amused. Instead, they are asking why it has taken a tour of an incubation hub in Dubai to prod the minister into addressing the issue. Still others like Victor Mapunga, CEO of Flexfintx, are quick to remind the minister that Zimbabwe already has enough blockchain and crypto start-ups. In his reply to Ncube’s tweet, Mapunga wrote: We already have blockchain & crypto companies in Zimbabwe such as Flexfintx. Work with local players. Mixed Reaction to Ncube’s Comments Meanwhile, a report by Techzim concludes that the minister, who tweeted about DMCC Crypto Centre right after the tour, is in fact not aware that Zimbabwe already has start-ups that offer similar solutions. The report then lists some of the blockchain start-ups that already offer faster payments solutions and low-cost, cross-border remittance services. However, not everyone agrees that crypto is a solution to the country’s currency woes. For instance, Twitter user Senator Jopa Sayeyo wrote: “When banks stop manipulating the forex exchange rate then maybe then the Reserve Bank of Zimbabwe [RBZ] can consider cryptocurrency. Otherwise, it will lead to a massive crash of the ZWL [Zimdollar].” What are your thoughts on this story? You can share your views in the comments section below. View the full article

Last March, the comic book publisher DC Comics told freelancers that intellectual property (IP) and characters owned by DC Comics were off-limits in regards to freelancers leveraging the IP for non-fungible token (NFT) asset sales. A recent report indicates that Marvel Comics has also told freelance artists that the sale of NFT products featuring Marvel’s IP is off-limits as well. DC Comics and Marvel Tell Freelance Artists to Hold Off on Auctioning NFTs Featuring Company’s IP A report published on Friday shows that the world’s largest comic book publisher Marvel Comics does not want artists to use Marvel’s products and IP for NFT sales. Back in March, Bitcoin.com News reported on DC Comics’ legal executive sending a letter to staffers and freelance artists telling them to cease and desist NFT initiatives that involved DC Comics’ IP. Before the letter went out, comic book artist José Delgo sold a Wonder Woman-themed NFT collection via Makersplace. “Please note that the offering for sale of any digital images featuring DC’s intellectual property with or without NFTs, whether rendered for DC’s publications or rendered outside the scope of one’s contractual engagement with DC, is not permitted,” the letter from DC’s legal team noted. Following the letter, one artist uploaded the letter to Opensea and sold it as NFT art called “A Marvel to Behold” for $2,000 worth of ethereum (ETH). The report concerning Marvel’s cease and desist stems from a story published by the Bloomberg author Madis Kabash. Marvel Plans to ‘Introduce New Opportunities for Marvel Creators,’ New Jersey Comic Book Dealer Says the Game Has Changed Bitcoin.com News has been reporting on Marvel’s entry into the NFT space as the comic book publisher teamed up with Orbis Blockchain Technologies Limited and the Veve Digital Collectibles app. Captain America and Spider-Man NFTs from Marvel and the Veve App. At the beginning of August, the company celebrated “Marvel Month” and introduced Spider-Man non-fungible tokens. At the end of August, Marvel dropped Captain America NFTs for Marvel’s 81st anniversary. In a statement sent to Bloomberg contributor Madis Kabash, Marvel explained that the company will provide Marvel creators with opportunities. Marvel said: [Marvel Comics] plans to introduce new opportunities for Marvel creators on Veve’s platform. The Bloomberg editorial discussed the subject with members of the comic book industry and spoke with the New Jersey-based comic dealer Jason Schachter. The secondary dealer explained that artists used to be able to sell originals with no hassles and it was this way for “decades.” “Creators have always had the power to sell their originals directly,” Schachter stressed in his interview. What do you think about Marvel Comics telling creators and freelancers not to create NFTs using Marvel characters? Let us know what you think about this subject in the comments section below. View the full article

Following El Salvador making bitcoin legal tender, a survey was conducted to ascertain whether U.S. adults support or oppose a similar move in the U.S. Among 4,912 adults who participated, 61% did not oppose. Majority of Adults in US Do Not Oppose Making Bitcoin Legal Tender, Survey Shows Yougov America Inc. conducted a survey Thursday to ascertain whether consumers are for or against adopting bitcoin as legal tender in the U.S. A total of 4,912 adults in the country participated in the survey. Yougov is an international research data and analytics group headquartered in London. Survey respondents were asked: “Would you support or oppose the U.S. making bitcoin a legal form of currency? This would mean that businesses would accept bitcoin in exchange for goods and services, in addition to continuing to accept the U.S. dollar.” According to the results, 11% said they “strongly support” and 16% said they “somewhat support.” Meanwhile, 11% said they “somewhat oppose,” 28% said they “strongly oppose,” and 34% said they “don’t know.” Survey of whether U.S. adults oppose or support adopting bitcoin as legal tender in the U.S. Source: Yougov America Inc. Among male respondents, the number of people who strongly support making bitcoin legal tender rises to 15% and 17% said they somewhat support. Among female respondents, only 7% strongly support and 14% somewhat support. The top age groups that strongly support BTC as legal tender in the U.S. are 25-34 (20%) and 35-44 (19%). Meanwhile, 26% of the 18-24 age group and 24% of the 25-34 age group somewhat support. What do you think about this survey? Let us know in the comments section below. View the full article

The chief investment officer of the world’s largest asset manager, Blackrock, says he could see bitcoin going up significantly. “I like assets that are volatile that have upside convexity,” he said. Blackrock CIO Sees Significant Upside to Bitcoin Rick Rieder, Blackrock’s chief investment officer (CIO) of Global Fixed Income, was asked Friday in an interview with CNBC about his view on bitcoin now that the cryptocurrency is legal tender in a country. Blackrock is the world’s largest asset manager, with about $9.5 trillion in assets under management (AUM) at the end of the second quarter. Rieder is also the firm’s head of the Fundamental Fixed Income business and head of the Global Allocation Investment Team. He is responsible for roughly $2.4 trillion in assets. Rieder began by commenting on the popular opinion that cryptocurrency is either “a hedge or an alternative [currency].” Regarding cryptocurrency as a hedge, he said, “I’m not sure it’s a really great hedge,” citing its correlation to equities and risk assets. Noting that its price can move 15% a day, he reiterated, “I’m not sure it’s a great hedge.” Regarding cryptocurrency as “an alternative currency,” he opined: Part of why I own a small piece of bitcoin is I do think there are more people who are going to enter that fray over time … I like assets that are volatile that have upside convexity. I could see bitcoin go up significantly. Rieder noted that Blackrock has a “very moderate” amount of cryptocurrency in its portfolio. Emphasized that bitcoin is volatile, he said he does not see it as a core asset like bonds or stocks. Nonetheless, he sees value in having a small amount as a speculative tool in a portfolio. In November last year, he said that cryptocurrency was here to stay and could even replace gold to a large extent. Do you agree with Blackrock’s CIO? Let us know in the comments section below. View the full article

The U.S. Securities and Exchange Commission (SEC) has issued a warning about fraudulent investment schemes involving cryptocurrencies. The regulator notes that some investors may have fear of missing out (FOMO) given the rise in prices of some crypto assets in recent years. SEC Warns Investors of Crypto Scams The U.S. Securities and Exchange Commission’s Office of Investor Education and Advocacy (OIEA) and Division of Enforcement’s Retail Strategy Task Force (RSTF) issued an Investor Alert on crypto investment scams last week. The notice explains that “Fraudsters continue to exploit the rising popularity of digital assets to lure retail investors into scams, often leading to devastating losses,” adding: Some investors may have FOMO [fear of missing out], given the rise in price of some digital assets in recent years, that they will miss an opportunity to become very wealthy. The notice outlines some warning signs of a scam. “Guaranteed high investment returns … with little or no risk” is a classic warning sign of fraud. Fraudsters may even post bogus historical returns on their websites to show high investment returns, the SEC detailed. Another sign is that sellers are unlicensed or unregistered. The SEC stated that “Unlicensed, unregistered sellers commit much of the securities fraud targeting retail investors in the U.S.” In addition, fraudsters often fabricate investment returns to entice investors. The SEC also warned that “If an investment ‘opportunity’ sounds too good to be true, it probably is.” Lastly, the notice warns of “fake testimonials.” The SEC emphasized that investors should never rely solely on testimonials when making an investment decision, elaborating: Fraudsters sometimes pay people – for example, actors to pose as ordinary people turned millionaires, social media influencers, and celebrities – to tout an investment on social media or in a video. What do you think about this SEC warning about crypto scams? Let us know in the comments section below. View the full article

PRESS RELEASE. TALLIN, ESTONIA -The most interesting event of this fall is the listing of DBX tokens, that will be available around the world at the beginning of the season. The long-awaited listing of DBX will take place on 7 of the world’s most famous exchanges. The good news is that you can buy, sell, and exchange tokens right now. Someone has already purchased them during the presale. Next, you can see the complete list of cryptocurrency exchanges, where the cryptocurrency will be available: DBX DIGITAL ECOSYSTEM BitMart (from September 10, 2021), among the top 20 largest exchanges on the planet; Lbank (from September 15, 2021), Chinese exchange, known all over the world ; WhiteBit (from September 20, 2021), licensed exchange in Estonia; Latoken (from September 25, 2021), a platform that is included in the top-10, due to the turnover since 2019 Probit (from September 30, 2021), one of the largest exchanges in Europe, winner of many awards. More info about DBX It is the newest digital ecosystem among the peer-to-peer decentralized financial networks. Due to anonymous instant transactions, our cryptocurrency does not have a central authority or server, functioning as an intermediary. Users can do everything by themselves. Benefits of DBX Investors can rely on this cryptocurrency thanks to a completely decentralized system that was created based on the maintenance of records in a distributed blockchain. This happens throughout the whole process, so that everything written prevents coin counterfeiting or double-spending. Besides, investors have the opportunity to make anonymous transactions. What are the advantages of DBX over other cryptocurrencies? Return on investment. From the very first day you can increase your investment portfolio. This benefit is available thanks to the monthly Masternode savings. Project growth. This ecosystem is expanding all the time. The reason is that the safety of investments depends on the number of projects created. Asset growth possibilities. You can greatly increase your investment assets thanks to the digital ecosystem. Risk diversification. DBX can provide risk diversification for all customers around the world. It is easy to quit the DBX, while this decision will not affect your fiat currencies at all. Convenient management. Manage your assets via an e-wallet. Do not forget about the launch of DBX tokens on 7 exchanges from September 1 to October 5. Bitforex will be an online service for IEO. https://www.dbx.so Media Contact: Company- DBX Telegram- DBX Email- cryptonetwork@dbx.so PR Contact Name- Trideep Roy Website- News Coverage Agency Email- touch@newscoverage.agency Telegram- Trideep Roy This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

The non-fungible token (NFT) industry has exploded in 2021 as millions of dollars worth of cryptocurrencies continue to be traded for these blockchain collectibles every single day. This week, Bitcoin.com News chatted with the popular American rapper Ja Rule about NFTs as he has partnered with James Cropcho and Robert Testagrossa to build a marketplace called flipkick.io. Ja Rule Speaks About NFTs and Bitcoin, Fyre Festival, and the NFT Marketplace Flipkick.io Yesterday, Bitcoin.com News spoke with recording artist Ja Rule, who is well known for his chart-topping albums and songs like the number 1 hit “Always on Time” (featuring Ashanti) in 2002. The musician is now involved with non-fungible tokens and helped form a unique NFT marketplace with serial entrepreneur Robert Testagrossa and engineer James Cropcho. Flipkick.io is a full-service NFT marketplace that caters to artists, celebrities, and creators who want to monetize their work with physical NFTs. I’ve been off my NFT’s for couple days what I miss??? — Ja Rule (@jarule) September 10, 2021 Ja Rule told our publication that’s a big difference when he discussed his fascination for NFTs and how Flipkick.io offers its NFT experience. In addition to the NFT space, Ja Rule delved into other subjects such as cryptocurrencies like bitcoin and ethereum. Moreover, a couple of hosted NFT artworks listed on Flipkick.io were tied to the infamous Fyre Festival theme and Ja Rule spoke candidly about the subject. While the Fyre Festival was a fiasco he said, there was a “silver lining” in the end. The rapper also believes cryptocurrencies are just the next progression of economics and he believes the NFT space will someday be a multi-billion dollar industry. Bitcoin.com News (BCN): When did you first hear about non-fungible tokens (NFTs)? Ja Rule: You know it’s hard for me to put a date on that, I don’t really know the date. It was early in the year and I haven’t been on NFTs for that long. My first introduction into it was with NBA Top Shot. I started collecting Top Shot NFTs and I didn’t even realize they were NFTs at the time. I just thought they were like the new digital sports cards. You know, that type of thing. I started collecting those because I collect regular sports cards. That was like the next obvious progression for sports cards and so I started collecting those and then a friend of mine let me know that what I was collecting was actually NFTs. He told me that ‘you already been collecting them – NBA Top Shots are NFTs.’ So then, I went further down the rabbit hole and got on to Opensea and the rest is kind of history. Once you get on Opensea everything unfolds. NFT artwork that sold on Flipkick.io. (Pictured left) Studio Dan “Woven Solid Blue and Pink 2021,” (Pictured right) Ben Katz “RobotAura 2021.” BCN: In addition to NFTs, what do you think about the rise of digital currencies like bitcoin? Ja Rule: I love bitcoin, I love ethereum, I love cryptocurrencies and decentralization and I think that it’s the next obvious step in economics. It’s going to be an interesting next five or ten years. BCN: Are you exposed to digital assets like bitcoin or ethereum? Ja Rule: I hold a little bitcoin, ethereum, solana, and cardano. I actually have my own cryptocurrency, it’s really a social token that I have with a company called ICONN. I haven’t launched it or anything yet but I guess this is going to be my coming out party because I just mentioned it. I have my own currency, I just haven’t launched it yet but it’s definitely ready to go. The thing with cryptocurrencies is it has to have utility. So I am building out that utility for ICONN which also has a live-streaming platform, ICONN Live. It’s in the App Store now and you can download that and that will be one of the ways you can use [the] ICONN [token] as well. BCN: How did you get involved with the Flipkick market concept? Ja Rule: Man, Flipkick.io is such a great idea. So as I got into NFTs I noticed a dope project and the whole angle was something different, which I really loved. The angle of taking physical works of art and authenticating them in a similar way NFTs are authenticated on the blockchain but with a chip. We have a patent pending on our technology, and when I say ours it’s because I’m part of the company. It’s just a smart thing to be able to authenticate physical artworks cryptographically and let these amazing artists be able to enjoy the fruits of their work and it was never possible before in the past. So I really applaud what Flipkick is as far as the physical NFT space. BCN: There are a few Flipkick.io-listed NFTs tied to the subject of the Fyre Festival. Curious as to what you think about these Fyre Festival NFTs that are listed? For instance, one NFT is a picture of the cheese sandwich that sold for $80K — What do you think about that sale? Ja Rule: Yeah that’s an interesting story. Well, my painting that I sold, I wanted to get rid of it and get it out of my house, because I have a whole new chapter in my life. That subject doesn’t define me. I wanted the bad juju out of my house. I sold my painting as an NFT which was great. Then the cheese sandwich photo is a very interesting story, because the guy that actually took that picture of the cheese sandwich — This is a guy I should have animosity toward. Because he took a picture of a cheese sandwich, and that was a false narrative to what was being served at the festival. It became like the ‘big joke’ and like reality to a lot of people. Like this is what they were serving on this disaster and then you see the documentary, and the woman is sitting there saying she lost money because she fed all these people, saying this and that, and how she cooked amazing food. It’s like which one is it? Were we serving cheese sandwiches or serving this woman’s amazing food? I don’t know which one it was, because I wasn’t there, obviously. (Pictured left) The Fyre Festival painting Ja Rule sold with the painter. (Pictured right) Photographer Trevor DeHaas’s infamous “cheese sandwich” picture which he shared in a tweet at the Fyre Festival. The NFT listed on flipkick.io sold for $80,000 on the NFT marketplace. But I’m smart enough to know that if people were being served a cheese sandwich, there would be more than just one picture up. So he came to us with the picture and at first I was against it, because I was like ‘we’re not the Fyre Festival, we’re an auction house.’ We did my painting and it got the company press. It helped kick off the Flipkick company and it is a physical piece of art and a beautiful piece of art, regardless of what it represents. The art [Tripp Derrick Barnes] painted is amazing. So he deserves to have his art displayed and sold like anybody else. He didn’t know this was going to be a disaster when he painted that work of art. The cheese sandwich story is such an amazing story, because this man brought us this cheese sandwich picture and he wanted to sell it and the rights to the picture, because of all the hoopla and whatever Fyre was. At first, I said ‘let’s not do this,’ but then we learned that… and that James and Test (Flipkick.io co-founders James Cropcho and Robert Testagrossa) said that the guy is trying to sell the picture because he needs a new kidney. This changed everything. I said ‘ok I get that’ lets put the picture up and hopefully this guy can sell it and save his life. He then put the picture up on flipkick.io and it didn’t sell. I said ‘ya know Test, this is bigger than just the picture,’ and Test was like ‘Ya know Ja, I agree.’ I said we should buy this picture and save this guy’s life, and that’s just what we did. So I actually own the cheese sandwich picture and Flipkick owns the cheese sandwich picture. The silver lining behind the whole Fyre Festival fiasco is that this man’s life was able to be saved from that picture. I think that’s something people should understand when they look at Ja Rule and say that I wanted to scam people — No, I’m not that guy. No, I’m that other guy, ya understand, the kind of guy that would save a man’s life by buying a picture that tried to destroy my life. That’s the guy I am. I hate when people talk about that incident like I’m such a bad guy, and they don’t even know me or know much about the incident. Whenever people talk about the Fyre Festival, I let them know that I was cleared of all wrongdoing. It wasn’t something that was, for me, intentionally done to be a disaster. And that the guy [Billy McFarland] is serving time for his mistakes. Billy’s in jail and he stood up for everything that he did. He let it be known that Ja Rule didn’t do this and he stood up for that. With that being said, the cheese sandwich picture sold and saved a life, and at the end of the day, there is a silver lining out of that whole fiasco. BCN: A vast number of hip-hop artists, rappers, and other celebrities have been jumping into the NFT industry. Why do you think famous musicians and artists are getting into NFTs? Ja Rule: I think people are really getting into NFTs because of what it is. Here’s the best way I can explain it and I’m going to give credit to my man Carlos Gill who said this to me the other day and I said that’s a very interesting perspective of NFTs. He said ‘It’s like the stock market, country club, and community all in one.’ It’s everything when you look at what NFTs are. Its investment, it’s an amazing sense of community, and a driven space that’s a really great time for NFTs and what they are becoming. It’s really changing people’s lives. Speaking with Ja Rule on the phone Friday, the popular American rapper discussed how he’s a big fan of decentralized technologies like bitcoin and non-fungible token (NFT) assets. BCN: A number of people believe that Bitcoin and NFTs are meant to decentralize the systems that have been corrupted by abusive third parties. What does Ja Rule think about decentralization? Ja Rule: I like decentralization, I like the fact that people can move their money in different ways. This is a currency that people can use across all forums. Not just in America, but in every country and it’s like the world currency for everyone. I like the fact that [bitcoin is] decentralized and that’s what I think really makes bitcoin what it is. BCN: NFTs are expected to be a multi-billion dollar business in the next few years with exponential growth. Do you think that it will grow that valuable? Ja Rule: I do think that will happen. I think the space is really, really small right now. There’s not a lot of people into NFTs and a lot of people are intrigued and want to know more about it. But it’s still very new and a very young space but it’s growing. A lot of celebrities, a lot of people are getting into it because I think they like the sense of community. Being a part of something. It’s like someone came up with an idea to start these small communities to get wealthy within these groups. Like a secret society. I think that’s what people are getting into. For me, I love art. First and foremost I love collecting art and there are some NFT projects where I don’t even read the roadmap before I buy the art. Because I don’t care, I love art and love what I bought. For me, art is in the eye of the beholder. What I like, you may not like. What I see as valuable, you may think is garbage. It’s subjective and so is music so it kind of goes hand in hand and for me, it’s the same thing. What do you think about the Bitcoin.com News interview with Ja Rule? Let us know what you think about this subject in the comments section below. View the full article

Authorities in Iran are continuing their crackdown on unauthorized cryptocurrency mining as electricity demand remains high. The country’s power utility company has so far closed down more than 5,300 illegal mining facilities, seizing an enormous amount of coin-minting machines. Power Utility Confiscates More Than 216,000 Mining Units From Unlicensed Miners in Iran Preventing blackouts remains a priority in Iran where electricity consumption is still higher than usual. Cryptocurrency miners, the majority of which are operating without authorization, have been blamed for electricity shortages throughout the summer. The hot weather this year led to increased use of air conditioning while limited rainfall negatively affected hydropower generation. The Iran Power Generation, Distribution and Transmission Company, Tavanir, is constantly tracking down illegal mining operations across the country. According to a recent report by the utility, the number of crypto farms the state-run entity has closed down has reached 5,380. Tavanir also revealed it had seized 216,758 pieces of mining hardware, the English-language business daily Financial Tribune reported, quoting ISNA news agency. Its estimates show that the unlicensed facilities have a combined electricity consumption equal to that of 800,000 households, or two million people. The power distribution company has previously claimed that illegal miners consume 2,000 megawatts of electrical energy daily. However, this figure was recently rejected by the Ministry of Industries, Mining and Trade which described it as “highly exaggerated” as such an amount would equal the power usage of 3 million mining devices. Iranian government recognized cryptocurrency mining as a legal industrial activity in July, 2019. Authorities in Tehran introduced licensing for mining companies and the permits are issued by the Ministry of Industries. According to Tavanir, 56 authorized crypto mining farms need a total of 400 megawatts of electricity. In May of this year, Iran imposed a temporary ban on all cryptocurrency mining to reduce its power deficit. Then, in August, Tavanir announced the restrictions will be removed for licensed miners on Sept. 22 in view of an expected decline in power demand towards the end of summer. While the licensing regime has allowed dozens of mining entities to operate legally in the Islamic Republic, the government has raised their electricity rates to match export prices. Since April, authorized miners are charged 16,574 rials ($0.39) per kilowatt-hour, four times the initial tariff. At the same time, illegal crypto farms use subsidized energy intended for households and other industrial sectors. Iranian power generating facilities produce approximately 60,000 megawatts of electrical energy from a total installed capacity of over 85,000 megawatts. According to Tavanir, the country’s power deficit amounts to at least 5,000 megawatts a day. Do you think cryptocurrency miners are responsible for power shortages in Iran? Share your thoughts on the subject in the comments section below. View the full article

Switzerland’s stock exchange SIX has won regulatory approval to launch its long-awaited bourse for digital assets. This authorization enables the exchange “to go live with a fully regulated, integrated trading, settlement, and custody infrastructure based on distributed ledger technology for digital securities.” SIX Digital Exchange Greenlighted to Launch SIX Digital Exchange (SDX) announced Friday that it has formally obtained two licenses from the Swiss Financial Market Supervisory Authority (FINMA) “to operate a stock exchange and a central securities depository for digital assets in Switzerland.” The announcement states: This authorization enables SDX to go live with a fully regulated, integrated trading, settlement, and custody infrastructure based on distributed ledger technology for digital securities. With these licenses, SDX can now offer the highest Swiss standards of oversight and regulation. “The digitalization of financial markets continues apace, and while the final shape of the market is still evolving, this is an important milestone in providing institutional investors with a safe and robust infrastructure,” said Thomas Zeeb, SIX’s global head of exchanges. The company explained that it expects the platform to create a global exchange network for digital assets with an international customer base expanding to include banks, issuers, insurance firms, and institutional investors. SIX officials said that the platform will initially begin trading in bonds, noting that stocks and exchange-traded funds (ETFs) could follow. What do you think about SIX Digital Exchange getting regulatory approval? Let us know in the comments section below. View the full article

The leader of a cryptocurrency scheme that swindled over $30 million from investors has pleaded guilty to fraud, the U.S. Department of Justice (DOJ) said. He now faces a maximum sentence of 20 years in prison. Leader of $30M Crypto Scheme Pleads Guilty to Fraud The U.S. Department of Justice (DOJ) announced Wednesday that Michael Ackerman has pleaded guilty to wire fraud. The Justice Department described that Ackerman is the leader of a “fake cryptocurrency investment scheme.” He “orchestrated a multimillion-dollar cryptocurrency investment scheme” and “admitted to causing victim losses of more than $30 million.” The DOJ elaborated: Ackerman, 52, of Sheffield Lake, Ohio, pled guilty today to one count of wire fraud, which carries a maximum sentence of 20 years in prison. According to court filings, in or around 2017, Ackerman and others started a purported cryptocurrency investment fund and recruited hundreds of investors. “The fund was an investment club that allowed its members to contribute U.S. dollars, which the investors were told would then be used to invest and trade in bitcoin and other cryptocurrencies,” the DOJ noted. Ackerman was the fund’s chief trading officer; he personally controlled the fund’s primary trading account on a cryptocurrency exchange. He claimed that the fund’s proprietary trading algorithm was earning about 15% in profit for investors each month. By December 2019, he claimed that the fund investment pool, which consisted of about $37 million in original investor contributions, had grown in value to about $315 million. However, “In reality, the primary trading account used by Ackerman had an account balance that never exceeded approximately $5 million,” the DOJ said. Furthermore, the Justice Department detailed: “Instead of investing and trading on behalf of the fund, Ackerman stole at least $9 million in investor contributions and used them to bankroll a lavish lifestyle that included his purchase of multiple pieces of real estate, hundreds of thousands of dollars of Tiffany jewelry, vehicles, travel, and personal security services.” The DOJ concluded: Under the terms of his plea, Ackerman agreed to make restitution of at least $30,667,738.79. Ackerman also agreed to forfeiture of $36,268,515, including the millions of dollars in cash, real estate, and jewelry that were fraudulently obtained from victims or bought with victim funds. What do you think about this case? Let us know in the comments section below. View the full article