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On Friday, coinciding with the Summer Olympics opening ceremony, Muhammad Ali Enterprises and the fine auction house Sotheby’s will be auctioning a non-fungible token (NFT) that features a never-before-seen piece of original artwork created by Muhammad Ali. According to the announcement the digitized NFT artwork depicts Ali’s interpretation of the infamous 1971 ‘Fight of the Century.’ Luxury Auction House Unveils the Olympic Collection Featuring a Rare Muhammad Ali Piece of Digital Art This week Sotheby’s and Muhammad Ali Enterprises, the owner of all intellectual property and publicity rights attached to boxing legend Muhammad Ali, revealed a new NFT auction that will be displayed and auctioned on July 23. According to the announcement, the 1-of-1 NFT is a never-before-seen piece of artwork the boxer created himself. The art is to be revealed for the first time ever using NFT technology. The never-before-seen NFT art is estimated to achieve $10/20,000, according to the press announcement from Sotheby’s and Muhammad Ali Enterprises. Muhammad Ali’s wife, Lonnie Ali explained that the art her husband created was displayed in the couple’s home for two decades. “This mixed media illustration by Muhammad has been hanging in our home for almost 20 years and was a part of his personal art portfolio that he amassed throughout his life,” Lonnie Ali said during the announcement. “It’s so exciting to see this piece transformed into an NFT. My husband was such an extraordinary person, and like NFTs that live forever, he will too.” The Muhammad Ali collectible NFT is meant to coincide with the Olympics opening ceremony on Friday alongside Sotheby’s “Olympic Collection.” The collection features “50 of the rarest pieces of Olympic history and sports memorabilia,” Sotheby’s reveals. Ali’s special NFT is the boxing legend’s interpretation of the 1971 ‘Fight of the Century.’ The fight at Madison Square Garden in New York between Muhammad Ali and Joe Frazier is considered one of the greatest fights in history. “The NFT will be a 50-second loop honoring the 50th anniversary of the legendary fight, with the crowd erupting in applause for 15 seconds to symbolize the fight’s 15 rounds,” the announcement from Sotheby’s and Muhammad Ali Enterprises discloses. Sotheby’s First Sports-Related NFT Auction Sotheby’s head of streetwear and modern collectibles, Brahm Wachter, commented on the upcoming Muhammad Ali NFT auction and he says the sale will be the luxury auction house’s first sports-related NFT. “This marks the first sports-related NFT Sotheby’s has offered for sale,” Wachter said. “We cannot think of a more perfect way to enter the market than through this unique NFT, which shows Muhammad Ali’s creative side, exploring the boundaries between highly valued sports memorabilia and art,” the Sotheby’s executive added. Wachter said that the Ali NFT compliments the Olympic Collection sale because the famous boxer was also an Olympian. Ali won the gold medal in 1960 at the Summer Olympics and Ali was given the honor of being able to light the Olympic Cauldron in 1996. A Muhammad Ali NFT collection was introduced last March called “The Ali Collection,” which also featured his bout with ‘Smokin’ Joe Frazier in 1971. Ethernity Chain revealed the NFT collection in a partnership with the museum the Muhammad Ali Center. What do you think about the upcoming Muhammad Ali NFT auction at Sotheby’s? Let us know what you think about this subject in the comments section below. View the full article

The Argentinian province of Misiones plans to issue its own stablecoin in the future. This is one of the objectives that a recently approved law, the Missionary Financial Innovation Program with Blockchain and Cryptocurrency Technology, proposes. Misiones will also use a blockchain to issue documents and certificates to digitalize much of its work. Misiones to Issue Stablecoin The Argentinian province of Misiones informed last week it plans to issue its own stablecoin. This is part of an economic plan that seeks to modernize the structure of the province through the implementation of blockchain and cryptocurrency technology. This plan, which is laid out in the Missionary Financial Innovation Program with Blockchain and Cryptocurrency Technology, a new law that was approved by deputies last week, also features the proposed digitalization of much of the work Misiones does today. This law would make Misiones the first province to implement the creation of its own stablecoin in Argentina. The issuance of this stablecoin could allow Misiones to have another financial tool to use in transactions with private and public entities of Argentina and the world. In its scope, the law also includes the use of blockchain to issue documents and other certificates that are now issued physically. Carlos Rovira, one of the proponents of the law, stated: The implementation of blockchain technology tends to favor de-paperization, generating a fundamental impact on the policies for the care of biodiversity involving all species of plants, animals, microorganisms, and their genetic material. Another proponent of the law, Roque Gervasoni, called the invention of cryptocurrencies a “scientific and technological milestone, representing one of the most salient events in the digital and traditional economy in recent times.” Green Certificates This blockchain initiative has a big green motivation. Another of the objectives of the law is to support the issuance of a “green bond” that would certify the ecological contributions that the province makes to the world. The certificate will be issued on top of the blockchain to certify in an unalterable way how much of the region’s carbon footprint is being absorbed by the Misiones jungle. However, forthcoming technical details about this proposal are scarce. The new regulation doesn’t define whether the province will create its own blockchain, or if it will issue these initiatives on top of an already existing blockchain project. What do you think about Misiones’ plan to issue its own stablecoin? Tell us in the comments section below. View the full article

Fresh off the heels of Blockfi’s issues with the ​​New Jersey Bureau of Securities, the company is now having problems in the state of Alabama. The director of the Alabama Securities Commission (ASC), Joseph Borg, explained on July 21 that he issued a show cause to the firm. Borg wants Blockfi to explain why the ASC should not copy New Jersey’s cease and desist as Alabama regulators also seem to believe they might be selling unregistered securities. Blockfi has received another order from the Texas State Securities (TSS) Board for the same reason. Alabama Securities Commission’s Show Cause Order Calls Blockfi Accounts Unregistered Securities, Texas Joins the Crackdown The director of the Alabama Securities Commission (ASC) Joseph Borg told the press on July 21 that Blockfi was sent an official show cause order. A show cause order is different from the cease and desist issued against Blockfi in New Jersey, as it gives the firm a chance to explain whether or not the order is justified. A press release stemming from the ASC’s director Joseph Borg highlights that the show cause order requires Blockfi to explain “why they should not be directed to cease and desist from selling unregistered securities in Alabama.” “There are thousands of entities registered with the ASC, as required by law, to sell securities to the people of Alabama,” ASC director Borg stated in the press release. “Most of those registered to sell securities live outside of Alabama, but anyone offering securities must be registered before making an investment offer to an Alabama resident,” he added. Blockfi has responded to the allegations and the show cause order. “We are aware of the show cause order issued by the Alabama Securities Commission,” the official Blockfi Twitter account details. “We have active dialogues with regulators worldwide, including those in Alabama, to share details about our products, which we believe are lawful and appropriate for crypto market participants.” “Our stance hasn’t changed – the Blockfi Interest Account is not a security,” the company further stressed. Both orders stemming from Alabama and New Jersey seem to indicate that regulators believe Blockfi interest-bearing accounts are unregistered securities offerings. The two states also stress that aggressive regulatory actions are meant to protect retail investors. Following the show cause order from Alabama, Texas has become the third state to join the crackdown on Blockfi’s interest-bearing account product (BIAs). The Texas State Securities (TSS) Board published the order on Thursday explaining Blockfi’s product is not protected by Securities Investor Protection Corporation (SIPC). “The BIAs are not protected by Securities Investor Protection Corporation, otherwise known as the SIPC, a federally mandated, non-profit, member-funded United States corporation created under the Securities Investor Protection Act of 1970 that mandates membership of most U.S.-registered broker-dealers,” the TSS order notes. “The mere fact an investment is tied to a cryptocurrency, blockchain technology, or some type of digital asset does not remove it from securities regulation if it constitutes an investment contract, note, evidence of indebtedness, or other type of security,” the TSS order adds. “Based on the information and allegations set forth herein, the BIAs constitute investment contracts, notes, or evidences of indebtedness regulated as securities as that term is defined by Section 4.A of the Securities Act.” The head of over-the-counter options trading at Kraken, Juthica Chou, asked why securities regulators were being this aggressive. “Have state securities regulators always been this aggressive or are they just finding such easy and opportunistic targets in Robinhood and Blockfi,” Chou tweeted. Blockfi also stressed on July 19, after the New Jersey cease and desist order, that a Blockfi interest account (BIA) is not a security. “BIA is not a security, and we therefore disagree with the action by the New Jersey Bureau of Securities,” the company said at the time. “The ASC action comes amid rising concerns over the proliferation of decentralized finance platforms like Blockfi that seek to reinvent traditional financial systems such as banks and brokerages for digital asset investors,” the ASC press release details. “The Show Cause Order alleges that, despite advertising on its website that Blockfi is a ‘U.S. regulated entity’, Blockfi fails to disclose to investors that its BIAs are not registered with the ASC or any other securities regulator,” the ASC’s statement concludes. What do you think about Blockfi’s issues with securities regulators? Let us know what you think about this subject in the comments section below. View the full article

Coinbase now accepts commerce payments in dogecoin. With the addition of the meme crypto, Coinbase Commerce now allows customers to check out and pay with seven cryptocurrencies. Coinbase Commerce Now Supports Dogecoin Coinbase Commerce is a platform by the Nasdaq-listed Coinbase that “enables merchants anywhere in the world to accept cryptocurrency payments in a fully decentralized way,” its website describes. The company announced via Twitter Wednesday: We’re now accepting commerce payments in dogecoin (DOGE). According to its website, seven cryptocurrencies are now supported. Customers can “check out and pay with bitcoin, bitcoin cash, dai, ethereum, litecoin, dogecoin, or USD Coin.” The website further explains: “All payments facilitated by Coinbase Commerce are fully decentralized and peer-to-peer. This means that the cryptocurrency goes directly from your wallet to a wallet that is only accessible by the merchant. At no point in this flow does anyone except the merchant, including Coinbase, have access to these funds.” In June, the Nasdaq-listed company added dogecoin and its rival meme coin Shiba Inu (SHIB) to Coinbase Pro. Meanwhile, Coinbase has been expanding globally. The company recently got approval to operate in Germany and Japan. It is also building a crypto hub in India, hiring hundreds of people. In addition, Coinbase is planning to launch an Apple-like crypto app store. What do you think about Coinbase Commerce adding dogecoin as the 7th supported cryptocurrency? Let us know in the comments section below. View the full article

UBS, Switzerland’s largest bank, says that clients are looking at different investment alternatives and there is a bit of a fear of missing out (FOMO) when it comes to cryptocurrency investments. UBS Says There Is a Bit of Fear of Missing Out The CEO of UBS Group AG, Ralph Hamers, talked about cryptocurrency in an interview with Bloomberg’s Manus Cranny, published Tuesday. Given that a growing number of investment banks are offering crypto services or investments with exposure to cryptocurrencies to their clients, he was asked what UBS is doing for its wealth management clients in terms of providing access to cryptocurrency investments. “Clients are looking at different alternatives,” he replied. “They hear about crypto and there is a bit of a fear of missing out [FOMO] as well.” The CEO elaborated: They read it in the papers but they also see the volatility so honestly we advise with caution and we don’t offer it actively … We feel the crypto itself is still an untested asset category. Hamers was also asked, “[Do] you have no FOMO as a CEO that maybe you are going to miss out on a few millionaires and billionaires?” He insisted: “I never have FOMO.” The UBS executive proceeded to explain why he doesn’t have FOMO. “Because I’m determined as to what I want to do and it’s also about focus,” he began, adding that there are “always these things that you hear about that maybe this or maybe that.” However, he said he has learned in his eight years as a CEO — almost one year at UBS and seven with ING — that what’s important is “what we are known for” and “what we do for our clients.” He concluded, “that’s what we have to continue.” In July, UBS advised investors to “stay clear” of cryptocurrencies and “build their portfolio around less risky assets.” In addition, UBS analysts warned that “Regulators have demonstrated they can and will crack down on crypto.” What do you think about the comments by the CEO of UBS? Let us know in the comments section below. View the full article

Global investment bank JPMorgan has reportedly green-lighted its advisors to provide clients with access to five cryptocurrency funds. The funds are available to all JPMorgan’s wealth management clients seeking investment advice. The move makes JPMorgan the first large bank to expand crypto trading access beyond just ultra-wealthy clients. JPMorgan Now Offers Access to Crypto Funds JPMorgan has given its financial advisors the green light to give all its clients access to cryptocurrency funds, the Insider reported Thursday, citing people directly familiar with the matter. This move makes JPMorgan the first large bank to expand crypto trading access beyond just ultra-wealthy clients, the publication conveyed. In a memo distributed earlier this week, JPMorgan told its advisors that effective July 19, they can take orders to buy and sell five cryptocurrency products. Four of them are from Grayscale Investments: the Bitcoin Trust, Bitcoin Cash Trust, Ethereum Trust, and Ethereum Classic Trust. The fifth approved fund is Osprey Funds’ Bitcoin Trust. A person directly familiar with the move said that the new offering applies to all JPMorgan clients seeking investment advice, including the bank’s self-directed clients using its commission-free Chase trading app, mass affluent clients whose assets are managed by financial advisors under JPMorgan Advisors, and ultrarich clients serviced by the firm’s private bank. Greg King, founder and CEO of Osprey Funds (OTCMKTS: OBTC), told Forbes: We are excited to be onboarded to the JPMorgan wealth platform. OBTC remains the lowest-priced publicly traded bitcoin fund in the U.S. and we believe JPMorgan’s clients will see value in the product. JPMorgan has come a long way with regard to cryptocurrency. In 2017, CEO Jamie Dimon threatened to fire employees who traded bitcoin. He said in May this year that his personal advice to people is to “stay away” from cryptocurrencies, including bitcoin. However, he acknowledged that his clients want to invest in this asset category. Recently, Mary Callahan Erdoes, J.P. Morgan Asset & Wealth Management’s CEO, said that many of the bank’s clients view crypto as an asset class and want to invest in it. With this crypto move, JPMorgan joins a growing number of investment banks that have offered or are planning to offer some kind of crypto investments or services to clients, including Morgan Stanley, Goldman Sachs, and Citigroup. However, JPMorgan is the first to give retail wealth clients direct access to crypto products. What do you think about JPMorgan offering clients access to cryptocurrency funds while Jamie Dimon advised against investing in cryptocurrencies? Let us know in the comments section below. View the full article

Following a report from John McAfee’s biographer, the former antivirus tycoon’s widow Janice McAfee has taken to social media to disclose a number of findings. During the first week of July, McAfee published a note that said there was “no sense of urgency” toward the investigation into John’s death by Spanish authorities. A week later, Janice McAfee shared the alleged suicide note “found in John’s pocket” and she believes it “does not sound anything like someone who has no hope and is contemplating ending their life.” Janice McAfee Questions Suicide Narrative Janice McAfee, the widow of the famous software mogul John McAfee, is very skeptical of her husband’s ostensible suicide. She has published a series of tweets that suggest she doesn’t believe the suicide story and the last time she spoke with John was on “June 23rd … at 11:30 am.” “He was found sometime after 6pm,” John’s widow said. “That means he had more than five hours to write the alleged suicide note [and] they want us to believe that note was the best he could come up with? I’m not buying it,” she added. Here is the alleged suicide note found in John’s pocket. This note does not sound anything like someone who has no hope and is contemplating ending their life. This note sounds like one of John's tweets. #NotASuicideNote #JusticeForJohnMcAfee pic.twitter.com/QCODfvh8sh — Janice McAfee (@theemrsmcafee) July 13, 2021 John McAfee was found dead in a Spanish prison cell and allegedly hanged himself after the Spanish court approved extradition requests from the United States. Following his death, a dead man’s switch theory started to surface and his mysterious ERC20 token called “Whackd” climbed over 700% in value. Then reports also said that John may have been hiding out in a secret bitcoin mining facility called the “Ghost Hotel.” Janice had spoken out against the suicide theories right away and told the press that she did not accept the mainstream media’s narrative. Janice McAfee: ‘It Wasn’t John’s First Time Being Without Money’ Following the report from McAfee’s biographer, who claimed the software mogul was broke after his wealth peaked at $100 million in 2007, his widow said on Twitter that it was “hardly news.” Janice further explained that after he left the antivirus company in 1994 he “was not involved with the company for over thirty years.” She noted that the 2008 financial crisis helped deplete his funds and revealed that John actually did have 47 children. His widow stressed that all of them were cared for financially. Janice also highlighted that a lot of McAfee’s wealth was spent on lawyers to fight “countless lawsuits.” Moreover, individuals looked at John in a parasitic way and “all they could see [in John] was a dollar sign and an opportunity to make a quick buck.” On July 21, John’s widow took to Twitter once again and described how he kept a few notebooks in jail. She said that over half of the notebooks’ pages were removed. Janice said: Only four of John’s personal writings were part of his belongings given to me from the prison. The notebooks I did receive had more than half the pages ripped out. It wouldn’t surprise me if more notes began surfacing to further push the suicide narrative. #JusticeForJohnMcAfee In another tweet, Janice explained that after three weeks of waiting, the family finally received the police report regarding the events surrounding John’s death. “Once the lawyers and myself have had a chance to go over them I will share with you all what I can,” she said on Twitter. Furthermore, Janice talked about the reports of him being broke after his death and she emphasized that it “was not John’s first time being without money.” “He was not suicidal because of it. Actually it was quite the opposite. He never felt more free,” Janice explained. What do you think about Janice McAfee’s disbelief in her husband’s alleged suicide? Let us know what you think about this subject in the comments section below. View the full article

Overseas crypto exchanges marketing to Koreans will be blocked if they fail to comply with new South Korean regulations. The country’s anti-money laundering body has sent a notice to a number of foreign trading platforms warning them a registration is mandatory in order to provide services to Korean residents. Korean Financial Intelligence Unit Notifies Foreign Crypto Exchanges of Registration Obligations Access to foreign-based cryptocurrency exchanges can be denied and the platforms may face criminal investigations in South Korea if they don’t comply with the country’s new regulations for the sector. One of the key requirements is to register with the Korean anti-money laundering agency, the Financial Intelligence Unit (FIU), by Sept. 24. To remind them of their obligations, FIU has sent out a notice to 27 entities with crypto trading operations targeting Korean nationals, the Financial Services Commission (FSC) announced Thursday, quoted by the Korea Herald. The regulations adopted earlier this year also require exchanges to have information security certificates, but none of them has obtained one yet, officials said. The commission emphasized that foreign exchanges shall cease business operations in Korea as of Sept. 25 unless they register with the FIU. Unregistered activities will lead to penalties, including up to five years of imprisonment and a fine that can reach 50 million Korean won (over $43,000). In a statement sent to the parliamentary National Policy Committee, the FSC elaborated: Business activities carried out by overseas cryptocurrency exchanges targeting local customers without reporting to the Financial Intelligence Unit — an anti-money laundering unit under the Financial Services Commission — are illegal under the revised Act on Reporting and Using Specified Financial Transaction Information. Compliance Deadline Approaching With Few Exchanges Meeting New Requirements South Korea’s revised Special Funds Act took effect on March 25 but will be enforced in September after a six-month grace period. Another of its updated provisions requires cryptocurrency exchanges to cooperate with domestic banks on the issuance of real-name accounts for their users. While the country’s top four coin trading platforms — Bithumb, Upbit, Coinone, and Korbit — have secured partnerships with commercial banks, hundreds of smaller exchanges are facing closures. Korean banks fear exposure to money laundering, hacking, fraud, and other crypto-related risks. Under the new rules, they’ll be responsible for assessing a crypto platform’s transparency and the possibility of criminal activity. Requests to be relieved of liability for offenses committed through the crypto exchanges they work with was reportedly rejected by Korean regulators earlier this month. According to the Korea Herald, the FSC is planning to send guidelines regarding the new regulations to foreign crypto operators providing services in the country. “If overseas cryptocurrency exchanges serve local customers with the won-currency settlement, they must register with the FIU and comply with the government’s guidelines to prevent money laundering,” FSC Chairman Eun Sung-soo told lawmakers last week. South Korea’s financial regulator is hardening its stance on foreign crypto service providers after authorities in a number of other jurisdictions, including Italy, Lithuania, the U.K., Japan, Germany, and Poland issued warnings against Binance, the world’s leading digital asset trading platform. New regulatory measures regarding the exchange range from temporary suspension of operations to stricter reporting requirements, the Korean daily notes, revealing a growing global crackdown on the market. What’s your opinion about the new South Korean regulations for cryptocurrency exchanges? Share your thoughts on the subject in the comments section below. View the full article

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has clarified how cryptocurrencies falling under security-based swaps are regulated. He affirmed that platforms operating in the centralized or decentralized finance space are implicated by the securities laws. SEC’s Regulatory Approach to Cryptocurrency SEC Chairman Gary Gensler talked about cryptocurrency regulation Wednesday before the American Bar Association Derivatives and Futures Law Committee Virtual Mid-Year Program. After discussing various topics, including security-based swaps, credit default swaps, and registration of their dealers and participants, he proceeded to talk about cryptocurrency. “I’d briefly like to discuss the intersection of security-based swaps and financial technology, including with respect to crypto assets,” he said. “There are initiatives by a number of platforms to offer crypto tokens or other products that are priced off of the value of securities and operate like derivatives.” The SEC chairman emphasized: Make no mistake: It doesn’t matter whether it’s a stock token, a stable value token backed by securities, or any other virtual product that provides synthetic exposure to underlying securities. These platforms — whether in the decentralized or centralized finance space — are implicated by the securities laws and must work within our securities regime. He continued: “If these products are security-based swaps, the other rules I’ve mentioned earlier, such as the trade reporting rules, will apply to them. Then, any offer or sale to retail participants must be registered under the Securities Act of 1933 and effected on a national securities exchange.” Gensler further noted: We’ve brought some cases involving retail offerings of security-based swaps; unfortunately, there may be more. We will continue to use all of the tools in our enforcement toolkit to ensure that investors are protected in cases like these. The SEC has taken about 75 enforcement actions against individuals and companies in the crypto industry so far. However, Gensler said more companies are in violation of securities laws. Gensler previously emphasized the need to regulate cryptocurrency exchanges. He even urged Congress to step in and pass legislation to protect investors. However, the SEC left bitcoin and cryptocurrency off its regulatory agenda for 2021. Early this month, U.S. Senator Elizabeth Warren asked the SEC to use its full authority to address the risks associated with crypto assets. She gave Gensler until July 28 to provide answers on the SEC’s authority to protect consumers investing and trading in cryptocurrencies, and determine what future congressional action was needed. What do you think about Gary Gensler’s comments? Let us know in the comments section below. View the full article

Spacex and Tesla CEO Elon Musk has revealed that he personally owns bitcoin, ethereum, and dogecoin. Meanwhile, his companies, Spacex and Tesla, own bitcoin. He also said that bitcoin’s energy usage “is shifting a lot more toward renewables,” and Tesla will likely resume accepting the cryptocurrency after he does more due diligence. Elon’s Cryptocurrencies: Bitcoin, Ethereum, Dogecoin The Bitcoin event “B Word,” which took place Wednesday, featured a live discussion with Tesla and SpaceX CEO Elon musk, Square and Twitter CEO Jack Dorsey, and Ark Invest CEO Cathie Wood. The discussion was moderated by Steve Lee, head of Square Crypto. Responding to the question of what influenced his view on bitcoin, Musk began by outlining the benefits of the cryptocurrency. Tesla’s Technoking, who wore an evolution of money t-shirt during the live discussion, then said, “It’s got a lot of potential.” Emphasizing, “I’m not an investor,” Musk said that the only significant publicly traded stocks he owns are the Tesla and Spacex stocks. He continued: Apart from that, I do own bitcoin. Tesla owns bitcoin. Spacex owns bitcoin … And I personally own a bit of ethereum and dogecoin. Musk affirmed, “In general, I am a supporter of bitcoin,” emphasizing, “The bitcoin I own is worth a lot more than ethereum or doge.” Indicating that he doesn’t believe in selling after helping to boost prices, he opined: If the price of bitcoin goes down, I lose money … I might pump but I don’t dump … I would like to see bitcoin succeed. Turning to the subject of Tesla halting acceptance of bitcoin, Musk explained that the suspension was temporary. He confirmed: “We are not selling any bitcoin, nor am I selling it personally, nor is Spacex selling any bitcoin.” Regarding Bitcoin’s energy usage, Musk conceded: “It looks like Bitcoin is shifting a lot more toward renewables and a bunch of the heavy-duty coal plants that were being used … have been shut down, especially in China.” He added, “I want to do a little more due diligence to confirm that the percentage of renewable energy usage is most likely at or above 50% and that there is a trend toward increasing that number,” elaborating: If so, Tesla will most likely resume accepting bitcoin. What do you think about Elon Musk’s comments? Let us know in the comments section below. View the full article

PRESS RELEASE. Bitcoin of America is one of the fastest growing BTM operators worldwide. GreatPlaceToWork.com recently certified the Illinois-based Bitcoin of America as an elite company to work for. A whopping 92 percent of BoA’s employees reported that they feel free to take time off from work, when necessary, while another 88 percent claim to have the necessary resources and equipment to do their jobs. Employees routinely cited “opportunities,” “teamwork,” “diversity” and “experience” as some of the strongest selling points of working at Bitcoin of America. To put those numbers into perspective, only 59 percent of employees at typical American companies consider their place of employment to be “a great place to work.” Bitcoin of America, which is registered as a money services business with the United States Department of Treasury (FinCEN)(RegNum), instead offers its employees a vastly different experience, according to the annual survey. There’s a very good reason why employees often mentioned “diversity” as one of the major reasons why Bitcoin of America should be classified as “a great place to work.” The company employees three female executives — COO Samantha Miller, Director of Marketing/Head of Tablet Sales Jenna Polinsky and Director of Business Development Alice Gorodetsky— among its leadership team. That is a rarity in the mostly male worlds of technology and cryptocurrency — something that Miller, Gorodetsky, and Polinsky were reminded of recently while representing BoA at Bitcoin international conferences in Miami and Las Vegas. Bitcoin of America’s employee excitement is one of the reasons that it has quickly evolved into one of the nation’s leading Bitcoin ATM vendors. In a matter of four years, Bitcoin of America has expanded from one Bitcoin ATM in Chicago (Machine No. 109 in the world at the time) to more than 1,500 plus ATMs and wireless locations across 31 U.S. states and the District of Columbia. 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

According to the latest data from the Central Bank of Kenya (CBK), diaspora remittances inflows to the country surged to $1.75 billion in the first six months of 2021. This figure represents a nearly 20% increase from the $1.46 billion recorded in the same period last year. 2021 Inflows Set to Surpass 2020 Total At this growth rate, Kenya’s 2021 remittances inflows appear on course to surpass the 2020 total of just over $3 billion. However, the data shows that on a monthly basis, the inflows dropped slightly from the $315 million recorded in the fifth month to almost $306 million. This drop from what is so far the highest monthly total is the only time the diaspora inflows have tapered off in 2021. In the meantime, the latest data shows that North America has now cemented its position as the key source of remittances for the East African country. For instance, in the first month of 2020, the North American diaspora’s share of total remittances was about 48% or approximately $125 million out of a total of $259 million. North America Diaspora Dominates Inflows However, in the record-breaking fifth month of the year 2021, North America’s share increased to about 60%. In fact, in the sixth month, North America’s share of total remittances increased slightly to 61.9%. This increase is despite the fact that total inflows had dropped marginally in that month. Similarly, the European market, which accounted for 17.8% of total remittances in the first month of 2020, saw its contribution marginally increase to 21.7% in the fifth month. However, unlike North America whose share of total remittances increased in the sixth month, Europe’s share dropped to 20.5%. As the official CBK data suggests, the Kenyan diaspora in North America and Europe is becoming a key foreign exchange source for the country. However, this diaspora contribution — which appears to exclude informal remittances — is likely to increase if authorities formally endorse remittances via crypto platforms. What are your thoughts on Kenya’s growing remittance inflows from North America and Europe? Tell us what you think in the comments section below. View the full article

Europe’s digital currency project has made some progress recently, with the Eurozone’s central bank moving to its next stage. Critics point, however, to the continuing lack of clarity around the design and purpose of the digital euro after a decade-long delay, if cryptocurrency is taken as a benchmark. Digital Euro to ‘Feel Like a Prepaid Card of Sorts’ A week after the European Central Bank (ECB) decided to proceed with its plan to create a digital version of the euro, experts have voiced concerns about its unclear future. On July 14, the Governing Council of the ECB approved the launch of the project’s next, “investigation phase.” The stage is going to last 24 months during which key issues regarding design and distribution should be addressed. But according to Hugo Coelho, former chief of staff to Eurogroup President Mario Centeno and partner at Forefront, “the outcome is not clear yet and might not be for a long time.” The Eurogroup is the informal but politically important meeting of finance ministers of the 19 EU member states that have adopted the common currency. Speaking to Euractiv, Coelho elaborated: For the moment the digital euro remains flagrantly ill-defined … it might well be the case that the first version of the digital euro will feel like a prepaid card of sorts and make little difference to our day-to-day lives, but it could change gradually. What’s known so far is that the digital euro is supposed to represent euro notes and coins in electronic form. Unlike present-day bank money, however, it will be stored directly in accounts issued by the ECB, and not at commercial banks. The central bank intends to use it as an additional payment instrument but has also stated that replacing traditional cash is not the goal. ECB Losing Game to Cryptocurrencies and Stablecoins By default, the digital euro should be safer than the private sector banking system, Euractiv remarks, as a commercial bank could become insolvent, a remote but nevertheless real possibility. “In the collective mind, the ECB is the ultimate guarantee,” Netinvestissement co-founder Karl Toussaint du Wast told the publication. What’s more, using the CBDC is expected to be free of charge, with payments made through a card issued by the ECB or a smartphone application. Commenting on the start of the investigation phase, ECB President Christine Lagarde stated last week that the “encouraging results” from the analysis and experiments conducted over the last nine months have led the central bank to “decide to move up a gear and start the digital euro project.” Toussaint du Wast described the move as “desperate and hopeless,” emphasizing: The ECB has lost the game … the innovation and growth power of projects developed on blockchain, including cryptos, having been 10 years ahead. One of the main motives behind the digital euro project is the desire of the European Central Bank to keep a grip on currency sovereignty, Euractiv notes, and the ECB isn’t going to admit defeat. In this situation, stablecoins backed by fiat currencies such as the U.S. dollar and the euro are the “first enemy” to the digital euro, according to Toussaint du Wast. By all indications, the euro’s electronic incarnation is likely to appear after Facebook’s “diem” coin, for example. Earlier this year, the ECB requested to be granted veto powers over the launch of such stablecoins in the Eurozone, citing the need to preserve control over inflation and maintain the safety of payments in the single currency area. Do you think the digital euro will be able to successfully compete with stablecoins and cryptocurrencies? Share your thoughts in the comments section below. View the full article

On Wednesday, the non-fungible token (NFT) platform called Autograph, co-founded by the Super Bowl champion, Tom Brady, announced a strategic partnership with the companies Draftkings and Lionsgate. Draftkings Inc. also revealed on Wednesday that the publicly listed company is launching an NFT marketplace dedicated to NFT digital collectibles. Tom Brady’s Autograph Brings Star-Studded Lineup, Signs Deal With Lionsgate and Draftkings The company Autograph is an NFT platform that aims to meld iconic brands and well-known names from sports, entertainment, and culture into digital collectible experiences. The seven-time Super Bowl champion Tom Brady co-founded the project, based in Los Angeles, which was revealed in mid-April. Brady has recently shown his appreciation for bitcoin and he and his wife, Brazilian model Gisele Bündchen, recently signed a long-term deal with crypto exchange FTX. On July 21, Autograph revealed the company has partnered with the entertainment firm Lionsgate (NYSE: LGF.A, LGF.B) and the digital sports company Draftkings Inc. (Nasdaq: DKNG). Derek Jeter, Naomi Osaka, Tony Hawk, Tiger Woods, and Wayne Gretzky are founding partners at Autograph, and the popular athletes have also inked exclusive multi-year NFT deals with the company. Draftkings to Launch NFT Marketplace, Lionsgate to Release Iconic NFT Film Collectibles In a separate announcement, Draftkings announced the launch of its own digital collectibles ecosystem that will offer NFT drops and secondary-market transactions. Draftkings will support Autograph’s official lineup of non-fungible token assets. All the sport-related officially licensed Autograph NFT content will be distributed via the upcoming Draftkings Marketplace. Autograph’s co-founder and CEO Dillon Rosenblatt said the company aims to provide users with digital value. “Autograph brings users closer to the world’s most legendary sports and entertainment icons by working hand in hand with our partners to co-produce exclusive digital collections and experiences that can’t be found anywhere else,” Rosenblatt said in a statement. Lionsgate will launch Autograph’s entertainment vertical line of NFTs, which will feature well-known television shows and iconic films. Initially, Autograph and Lionsgate will center on franchises like the films “Dirty Dancing,” “Mad Men,” “John Wick,” “Hunger Games,” and the “Twilight” Saga. “NFTs present a tremendous opportunity for mixed-reality world-building experiences,” Jenefer Brown, EVP and head of Lionsgate Global Live said. “Deepening user engagement and interaction and fostering a community for our hundreds of millions of global consumers to create one-of-a-kind digital collections and Autograph is the optimal destination for this discovery.” What do you think about Autograph partnering with Lionsgate and Draftkings? Let us know what you think about this subject in the comments section below. View the full article

In another world-first for the non-fungible token (NFT) space, Steve Job’s handwritten job application letter in its physical form and an accompanying digital NFT of the same item will go head to head in respective auctions. Auction to Expose How Collectors Value Different Formats As NFTs continue to push the boundaries of possibilities, whether introducing new, novel use cases for tokenization or adding layers of value propositions to existing physical items, the question of collector preference is set to best tested. Today, at 9:41 AM Pacific Daylight Time (PDT), Rarible and Snoofa will be hosting simultaneous auctions set to last for seven days featuring Steve Job’s 1973 handwritten job application in two rival formats: the original physical copy and an NFT version. The written application highlights Job’s skills and interests, underlining his experience just a year before moving to Atari, which was then just a startup in the gaming space. Rarible, an NFT marketplace for creators and collectors to issue, sell, and trade NFTs in the IPFS protocol, ensures that Job’s application minted in NFT format is backed up and cannot be lost during the transfer process between owners. Snoofa, which provides auction platform software solutions, will be handling the auction for the physical version. Interested collectors can bid in ethereum (ETH) via the Rarible platform, and Snoofa will accept both U.S. dollars and ether. Although physical items and assets can back corresponding NFTs depending on the nature of the NFT, this event marks the first instance where identical digital and physical versions will be competing side-by-side in separate auctions. The physical version of the application already has an auction history, beginning in 2017 when it was first auctioned in New York for $18,750. Since then, it has changed hands two more times for $174,757 in Boston in 2018. Then it sold again in London in 2021 for $224,750, marking a 1,200% increase in value from the initial sale price. The question remains whether the digital or physical version will command a higher price tag at auction, serving as a strong barometer of collector demand for these new digital iterations of physical history. Which do you think will sell for more – the paper job application or the NFT? Let us know in the comments section below. View the full article

The Nigerian pop artist and celebrity, Davido, recently posted several tweets endorsing ‘rapdoge,’ the so-called “first deflationary meme token fully supported by celebrities & rappers.” In one of the tweets, Davido tells his 9.5 million followers to “buy $20, $100 or $1000 worth of rap doge tokens and be ready to make some money.” Pump and Dump In a subsequent tweet, Davido, who has previously said he was thinking about starting a bitcoin trading company, asks: “Who listened to me about RapDoge?” Following the artist’s shilling of the coin on July 19, 2021, the rap doge token price surged by more than 100% as interest in the crypto grew. However, at the time of writing, rapdoge, which promoters claim to be the next big meme coin, saw its value return to pre-shilling levels. In the meantime, it seems the pop artist’s latest endorsement of a crypto asset has not gone over well with some of his followers. As a Cryptotvplus report explains, Davido’s shilling of the rapdoge token comes just a few months after Racksterli, a Ponzi scheme that he promoted, which crashed. When Racksterli tanked, Davido is said to have stopped tweeting about it and now some of his followers believe the celebrity may be attempting to do the same with the rapdoge token. Mixed Reactions to Davido’s Hype Other Davido followers like Twitter user Daniel Regha insist that the Nigerian artist, who recently released a song that features Chris Brown and Young Thug, needs to ensure a project is legit before promoting it. Regha tweeted: Davido u once influenced a Ponzi scheme company (Racksterli) that allegedly defrauded a lot of people so ensure u run a background check on Rapdoge so ur followers don’t take u at ur word & fall victim to scammers the second time. Publicize a brand only if u are certain it’s legit. Do you think Davido’s shilling of rapdoge was responsible for its brief price surge on July 19? Tell us what you think in the comments section below. View the full article

Opensea has become the latest non-fungible token (NFT)-focused firm to raise funds this year as the company announced raising $100 million in a Series B this week. The venture capital firm Andreessen Horowitz led the Opensea financing round alongside investors like Kevin Durant, Ashton Kutcher, and Tobi Lutke. NFT Marketplace Opensea Joins the Blockchain Unicorns, Project Now Supports Polygon One of the largest non-fungible token (NFT) marketplaces today, Opensea, has announced the company has raised $100 million in a Series B funding round. Additionally, the project also announced it was expanding its features to “cross-blockchain support” and Opensea will start supporting the Polygon blockchain. The funding round led by Andreessen Horowitz (a16z) puts Opensea into the unicorn status of blockchain startups with a valuation of $1.5 billion after the Series B. “At Opensea, we believe NFTs are emerging as one of the first consumer-oriented killer applications for blockchains,” the company said during the funding announcement. “NFTs are a simple primitive for digital goods (think digital art, game items, domain names, and more) with brand new properties: they’re unique, provably scarce, liquid, user-owned, and usable across multiple applications,” the firm added. In addition to a16z, Opensea’s Series B saw participation from Coatue, as well as investors like Michael Ovitz, Kevin Hartz, Dylan Field, Kevin Durant, Ashton Kutcher, and Tobi Lutke. “NFTs represent the building blocks for brand new peer-to-peer economies, where users have greater freedom and ownership over their data, and developers can build powerful, interoperable applications to provide real economic value to users,” Opensea’s funding announcement emphasizes. Opensea Swims in an Ocean of NFT Marketplace Competitors Raising Money According to 30-day statistics from Dune Analytics, Opensea’s sales volume is the highest ever for the month of July surpassing last month’s record-breaking data. July has seen $174.6 million in volume but daily volume is lower than usual at $4.4 million. Daily statistics from Dune Analytics indicate that during the first week of May, Opensea saw $23.1 million on May 4. As far as Polygon Opensea support, users can test it out today by visiting Opensea’s Matic web page. “Buyers no longer have to pay blockchain fees when making trades on Opensea, and creators can fully earn their way into crypto for the first time,” the company noted. Opensea’s Series B follows a number of NFT-focused markets that have been able to raise millions to expand the NFT industry. Enjin raised $20 million in a token sale for the Efinity NFT marketplace that supports the Polkadot blockchain. The NFT market Rarible raised over $14 million recently and it plans to launch on the Flow blockchain. The Mark Cuban-backed non-fungible token (NFT) marketplace Mintable raised $13 million in a Series A funding round during the first week of July. Investors and venture capital firms seem to believe that the NFT hype will stick around for quite some time, and Opensea’s latest funding shows the trend continues. What do you think about Opensea raising $100 million? Let us know what you think about this subject in the comments section below. View the full article

On Wednesday, following the drop below the $30,000 region, bitcoin’s price has rebounded more than 8% since Tuesday’s low. Meanwhile, the sentiment metric recorded by the Crypto Fear and Greed Index (CFGI) is extremely low, pointing to “extreme fear” in the market. Despite being a scary term, the time is usually the best time to obtain assets for a lower price. However, data from Tradingview’s technicals show bitcoin is still in the “sell” range, while bitcoin market oscillators are more “neutral.” CFGI Sentiment Metric Reaches ‘Extreme Fear’ The price of bitcoin (BTC) tapped a low of $29,300 on July 20, 2021, and since then the price has managed to jump back above the $32,000 handle. Despite the rebound, there’s a lot of uncertainty within the crypto space as far as short-term bitcoin price predictions are concerned. BTC/USD chart shows bitcoin managed to climb back above the $32K zone on Wednesday. Some believe the price may plunge to the $20,000 zone again and others believe a rebound is in the cards and the next trajectory will be well above the $64K all-time high. Most traders who believe this rebound could happen, think that today’s bitcoin price movements are eerily similar to the prices BTC saw in 2013. At that time, BTC plunged to $50 per coin after skyrocketing well above the $200 handle in mid-May 2013. Crypto Fear and Greed Index (CFGI) hosted on the website alternative.me on July 21, 2021. Bitcoin’s price then jumped close to 2,400% after the summer 2013 low, and surged to the crypto asset’s first four-digit USD all-time high. After BTC dropped to $29,300 on Tuesday, the Crypto Fear and Greed Index (CFGI) tapped a low of ten on the charts. The score of ten is not the lowest point the CFGI metric has recorded but it is very low in comparison to most days. The last time the CFGI metric recorded a ten was in mid-June and at the end of May as well. Since the end of May, the CFGI metric hasn’t been this low in over a year as the last time the CFGI hit a ten or lower was during the March 12, 2020 market rout, otherwise known as ‘Black Thursday.’ While the extreme fear sentiment may seem dismal, traders believe it is one of the best entry points to get into any market. A market filled with panic sellers and “extreme fear” is sure to see cheaper assets than one filled with “extreme greed,” which is the highest end of the CFGI spectrum. Essentially the CFGI analyzes “emotions and sentiments from different sources and crunches them into one simple number,” the website details. Oscillators and Moving Averages Tell a Similar Story In contrast to the CFGI, Tradingview’s BTC/USD technicals show a similar story but some of the indicators can be perceived as a different outlook. A single-day summary of Tradingview’s BTC/USD technicals shows a scale toward the “sell” range. Tradingview’s BTC/USD technicals on July 21, 2021, at 12:00 p.m. (EDT). Moving averages (MA) are different and Tradingview’s MA technicals point to the “strong sell” range. Alongside this, BTC/USD oscillators are a bit warmer and are indicating a “neutral” range. For instance, the relative strength index (RSI 14) shows “neutral” and stochastic (14, 3, 3) also indicates things are “neutral.” Tradingview’s BTC/USD technicals, specifically oscillators and moving averages on July 21, 2021, at 12:00 p.m. (EDT). All the moving average indicators suggest the “sell” range while the simple moving average (SMA 10) and the exponential moving average (EMA 10) are in the “buy” range. As far as BTC/USD oscillators, the only signal for “buy” is the momentum indicator but the moving average convergence divergence (MACD), a trend that follows momentum, is recorded as a “sell” on Wednesday. Delta Exchange CEO Says ‘$30K Has Proven to Be Reliable Support Since May’ Meanwhile, despite the plunge on Tuesday morning, bitcoin (BTC) continues to hold a support zone. In a note sent to Bitcoin.com News, Delta Exchange CEO Pankaj Balani explains the current support, at least so far, has been reliable. “Bitcoin has been grinding lower since the start of this month,” Balani said. “Volatility has compressed significantly with a lower range. Bitcoin is trading in a significant support zone of $29 – $31K USDT. $30K has proven to be very reliable support since May. A breakdown of this level is likely to result in a significant increase in volatility and a final capitulation of crypto assets. That said, BTC is still in the $30K – $40K rectangle until a conclusive breakdown takes place,” the Delta Exchange executive added. What do you think about bitcoin’s CFGI metric tapping “extreme fear” and the technicals from today’s Tradingview stats? Do you agree with Pankaj Balani’s reliable support comment? Let us know what you think about this subject in the comments section below. View the full article

According to reports stemming from investigative journalist Matthew Russell Lee, from Inner City Press, former Ethereum developer Virgil Griffith has violated the terms of his bail and has been taken into custody. According to the reports, the U.S. Attorney’s Office revoked Griffith’s bond because he allegedly tried to access the crypto exchange Coinbase. Report Says Virgil Griffith Violated His Bond Terms At the end of November 2019, the United States Attorney’s Office for the Southern District of New York (SDNY) arrested the former Ethereum Foundation member Virgil Griffith for allegedly “assisting North Korea in evading sanctions.” After the Manhattan U.S. Attorney revealed the news, the cryptocurrency community erupted in outrage. A year and eight months later, Griffith was released on bail but reports from Matthew Russell Lee of Inner City Press note that he’s recently been taken into custody. Allegedly, Griffith violated the terms of his bail and the SDNY judge presiding over his case had him arrested. “Virgil Griffith was surrounded by two U.S. Marshals and took off his belt before being taken into the holding cell,” Russell Lee wrote on Tuesday. “His lawyer Mr. Klein, when the [Inner City Press] asked, said he had no comment. Virgil’s father, whom Inner City Press previously spoke with, nodded.” Reportedly Griffith’s Mother Logged-in and Login Was a ‘Misunderstanding’ A report from mon-livret.fr written in French and shared by Russell Lee, explains what happened to Griffith. Allegedly, the former Ethereum developer attempted to access the cryptocurrency exchange Coinbase via his account, but reportedly had his mother sign into the account. His bail terms noted that he was not allowed to access any of his cryptocurrency accounts while he was under house arrest in Alabama. Griffith’s attorney argued that the login was a “misunderstanding” and Griffith’s lawyer reportedly asserted he didn’t need his mother to log in. The report highlights that Judge Castel, of the SDNY court, refused to hear the lawyer’s arguments. Castel explained that because of the rising price of ethereum (ETH) the bond terms were created for a reason so Griffith wouldn’t be a flight risk. Following the judge’s statements and Klein’s arguments, Castel ordered that Griffith should be taken into custody immediately. If convicted of the conspiracy charges for allegedly teaching North Korea “how to use blockchain technology,” Griffith will face up to 20 years in a federal penitentiary. A petition to the Federal Bureau of Investigation (FBI) hosted on the website Change.org indicates that there’s a formal request to get Griffith out of prison. The petition was created in November 2019, after Griffith’s arrest, and it has only managed to acquire 319 signatures out of 500 during the last year and a half. “We seek to have Virgil Griffith released from prison and all pending charges dropped,” the Change.org petition creators detail. What do you think about Virgil Griffith getting taken into custody for accessing his Coinbase account? Let us know what you think about this subject in the comments section below. View the full article

Off the coast of the Irish Sea, humans have lived on the Isle of Man since before 6500 B.C. The island has a robust history of Viking Age treasures. According to a recent announcement from Manx National Heritage, a heritage agency located there, an amateur treasure hunter recently discovered a hoard of Viking silver on the island. U.S.-based researcher and numismatist, Dr. Kristin Bornholdt-Collins, said the unearthed Viking silver hoard was similar to today’s cryptocurrency and embodied a 1,000-year-old comparison to Satoshi Nakamoto’s Bitcoin. Viking ‘Hack’ Silver Hoard Was Modern-Day Equivalent to a Cryptocurrency Just recently, an amateur treasure hunter searching for trinkets on the Isle of Man found a hoard of Viking silver otherwise known as “hack silver.” Manx National Heritage disclosed that the stash of ancient money contained 87 silver coins, 13 pieces of silver arm-rings, and a small fraction of other numismatic artifacts. The Viking stash was discovered in April when Kath Giles was hoovering around with a metal detector on private land. Giles’ discovery was the third major treasure find on the Island of Man in less than six months, and Giles has managed to dig up at least four significant treasure finds in three years. Dr. Kristin Bornholdt-Collins, an independent researcher and numismatist based in New Hampshire, U.S., explained that the silver includes Dublin-minted pennies and “long cross” pennies which could be cut in half. The latest stash of Viking silver may have stemmed from the age of the famous Viking called “Silkbeard.” Image credit: Manx National Heritage. The Manx National Heritage announcement notes that the Viking coins have a “90% silver content.” The stash of coins Giles discovered is referred to as a “mixed hoard of Viking Age silver coins.” ‘A Currency Without Borders or Political Affiliation’ Experts believe mixed hoards of money stemmed from owners who planned to reclaim the stash of money at a later date. Bornholdt-Collins says the stash is used like a “piggybank” and could be considered a 1,000-year-old analog version of cryptocurrency. “The Northern Mixed hoard is the fourth Viking-Age coin hoard to be found in the Isle of Man in the last fifty years,” Bornholdt-Collins said. “It may have been added to over time, like a piggybank, accounting for some of the older coins, though for the most part, it is a direct reflection of what was circulating in and around Man in the late 1020s/c. 1030.” “In addition to the array of coins,” Bornholdt-Collins added, “both hoards contain a significant hack-silver or bullion portion, which would have been weighed out and possibly tested for its quality in the course of transactions. This is generally expected in finds dating to the ninth and tenth centuries from Viking regions, but appears to be a special feature of the later Manx hoards, too. This may be because bullion was especially convenient for international trade since it was practical for any size transaction and was decentralized, a currency without borders or political affiliation.” The New Hampshire-based numismatist further said: In this sense, it was a modern-day equivalent to a cryptocurrency — We might even say it was something like the original ‘Bitcoin.’ It seems only logical, then, that it was so popular in a cosmopolitan trading hub like Man, even several decades into the 11th century, when closely regulated minted silver was well on its way to becoming the norm across Northern Europe. The Manx National Heritage team believes the coin stemmed from around A.D. 1035 and researchers believe the Viking silver was “built up over a period of a few years, perhaps representing a short-term savings account.” According to the Isle of Man heritage agency, the Viking silver will be showcased at the Viking Gallery at the Manx Museum. The stash will then be reviewed by the Treasure Valuation Committee at the British Museum in order to provide advice to the heritage agency on caring for the antiquities found. It is assumed that the latest treasure hoard of Viking silver derived from the time of the Hiberno-Norse king Sihtric Silkbeard. What do you think about the Viking silver found on the Isle of Man and why it is considered an analog version of Satoshi Nakamoto’s Bitcoin? Let us know what you think about this subject in the comments section below. View the full article

Core Scientific, a major blockchain hosting and digital asset mining company, is going public through a merger with Power & Digital Infrastructure Acquisition Corp. The deal values the combined company at approximately $4.3 billion. Core Scientific to List on Nasdaq Core Scientific Holding Co., one of the largest blockchain hosting and digital asset mining companies in North America, announced Wednesday its plan to go public on Nasdaq via a special purpose acquisition company (SPAC). The crypto firm has entered into “a definitive merger agreement” with Power & Digital Infrastructure Acquisition Corp. (Nasdaq: XPDI), a publicly traded SPAC backed by the world’s largest asset manager, Blackrock. Under the agreement, XPDI will acquire Core Scientific. The combined company is expected to operate as Core Scientific Inc. and remain a publicly listed company on the Nasdaq stock market. The announcement states: The transaction [acquisition] values the combined company at an implied fully diluted pro forma enterprise value of approximately $4.3 billion. Core Scientific described itself as “a 100% net carbon neutral, vertically integrated blockchain infrastructure and mining company.” It has operations in North Dakota, North Carolina, Georgia, and Kentucky. Darin Feinstein, co-founder of Core Scientific, explained that the company’s blockchain infrastructure business is “backed by more than 70 blockchain and infrastructure-related patents and applications.” He commented, “We are proud to unite our companies and move forward into the capital markets.” What do you think about Core Scientific going public on Nasdaq via SPAC? Let us know in the comments section below. View the full article

China’s first insurance policy using the digital yuan for settlement has been issued in Shenzhen, local media reported. The new product, targeting medical personnel exposed to coronavirus risks, is offered by the country’s largest insurer, Ping An. The financial giant also has fintech and healthtech entities under its umbrella. Ping An Teams Up With Bank of China to Offer Digital Yuan Insurance Policy In what has been described as another major step towards wider deployment of China’s central bank digital currency (CBDC), the first digital yuan-settled insurance policies have been launched in Shenzhen, Guangdong Province. They come as the result of cooperation between the local subsidiary of Ping An Property Insurance and the Bank of China’s branch in the city, the Shenzhen Special Zone Daily reported. The new insurance product is oriented towards medical staff in Shenzhen’s Nanshan district. The policy provides 300,000 yuan (over $46,000) in coverage for death resulting from Covid-19 infection, the Global Times English-language newspaper detailed in an article. Insured healthcare workers are also eligible to receive 50,000 yuan (around $7,700) if they are diagnosed with Covid and the same amount of money in case of accidental death. Those who pay for their insurance policies using a digital yuan wallet will also get an exclusive preferential allowance, the publication added. Ping An’s offering represents a pilot implementation of the Chinese digital fiat in the insurance market. The Chinese giant intends to also explore the application of the digital RMB in claims, payments, and other insurance scenarios, according to a representative of its Shenzhen office. Wang Peng, an assistant professor at the Gaoling School of Artificial Intelligence, Renmin University, commented: [The move] aims to cultivate user habits for a broader range of application scenarios, as the previous trials mostly targeted e-commerce and online payments. Shenzhen is one of several major cities participating in a government campaign to promote the use of the digital yuan through red envelope giveaways and lotteries, the others being Suzhou, Beijing, Chengdu, and Shanghai. China has so far handed out $40 million in digital yuan in red envelopes, as Bitcoin.com News reported earlier this month, $35 million of which has been dispersed in these five metropolitan areas. Public testing of the digital yuan started in Shenzhen in mid-October when the local government and the People’s Bank of China distributed 50,000 red envelopes, each loaded with 200 digital yuan. The handouts were reportedly part of China’s first experiment of this kind. Do you think medical workers in Shenzhen will take advantage of the new digital yuan insurance policy? Tell us in the comments section below. View the full article

Three U.S. senators have urged the United States Olympic & Paralympic Committee to forbid American athletes from receiving or using digital yuan during the Beijing Olympics. Raising many concerns, including privacy, they warned, “Olympic athletes should be aware that the digital yuan may be used to surveil Chinese citizens and those visiting China on an unprecedented scale.” US Senators Raise Concerns About China’s Digital Yuan Three U.S. senators wrote a letter to Susanne Lyons, the chairman of the board of the United States Olympic & Paralympic Committee (USOPC), Monday with concerns regarding the digital yuan. Senators Marsha Blackburn, Roger Wicker, and Cynthia Lummis wrote: “We write to express our concerns with the communist Chinese government’s plans to officially launch the Digital Currency Electronic Payment, commonly referred to as the digital yuan, prior to the Beijing Winter Olympics in 2022.” They clarified: Specifically, we urge the United States Olympic & Paralympic Committee (USOPC) to forbid American athletes from receiving or using digital yuan during the Beijing Olympics. The digital yuan, the People’s Bank of China’s (PBOC) central bank digital currency (CBDC), “is entirely controlled by the PBOC, and can be tracked and traced by the central bank,” the senators explained. The Chinese government has been testing and giving away digital yuan in various cities and companies have already begun accepting it as a means of payment. The white paper for the digital yuan was also recently unveiled. The senators noted that “the Chinese Communist Party insists their efforts are aimed at digitizing banknotes and coins.” However, they warned, “Olympic athletes should be aware that the digital yuan may be used to surveil Chinese citizens and those visiting China on an unprecedented scale, with the hopes that they will maintain digital yuan wallets on their smartphones and continue to use it upon return.” The letter further states: The integration of China’s digital currency into global commerce has many problematic privacy implications … These concerns are not hypothetical. Rather, digital payment platforms such as Wechat, are already being used to surveil, threaten, and arrest Chinese citizens. The senators asked the USOPC to work with the U.S. Department of State, the U.S. Department of Treasury, and the U.S. Department of Commerce “to protect the privacy of American athletes from the Chinese Communist Government.” They also asked for a briefing on this request for Senate Committee on Commerce, Science, and Transportation members within 30-days of receipt of this letter. Responding to the senators’ action, Chinese Foreign Ministry spokesman Zhao Lijian told reporters Tuesday in Beijing that it revealed their ignorance. “We suggest they figure out what a digital currency really is,” he was quoted as saying. “The US politicians should abide by the spirit stipulated in the Olympic Charter, stop making sports a political matter and stop making troubles out of the digital currency in China.” Do you think American athletes should be forbidden from receiving and using digital yuan? Let us know in the comments section below. View the full article

The HOPR protocol provides network-level and metadata privacy for every kind of data exchange. Designed to be better than TOR, the mixnet protects the identity of both sender and recipient by routing data via multiple intermediate relay hops that mix traffic. Now the project launches staking with NFT rewards and you can earn over 18.25% APR. The HOPR Staking Program HOPR, the first-ever open incentivized communication mixnet where users earn tokens for running nodes, is launching a gamified staking program. The contract is available for staking deposits from July 20th, rewards will start to pay out from July 27th and the program will run for 175 days. The contract will be deployed on xDAI Chain and the staking token will be xHOPR. To stake and lock tokens you can simply send xHOPR to the contract address from the address you want to stake from. Rewards will be paid out in wxHOPR, the project’s wrapped token. The developers will also provide an interface to manage your stake, rewards, and NFT boosts. The staking contract pays out 0.05% per day, which works out at 18.25% APR, but you can further boost this APR by earning and redeeming NFTs. The NFT boosts are mainly a way to engage the community in testing the advanced parts of the HOPR protocol such as cover traffic, but the developers will also be issuing NFTs linked to specific events such as the experiments, games and promotions, and partnerships with other projects to bring new users to HOPR. Read the full details of the HOPR Staking Program here. Data Privacy and Decentralization If you are not yet familiar with HOPR, it can basically be explained as a decentralized network where users can send encrypted data without exposing their metadata. More and more people are becoming aware these days about how all our private data and metadata are being collected, recorded, sold and potentially used against us. This has lead to a massive surge in VPN services that claim to protect your online privacy – but these are centralized companies that you need to trust are actually honest and not compromised in anyway. TOR is a more decentralized privacy solution, but it suffers from a lack of incentives for people to maintain the network which means it is very slow and virtually stagnant. HOPR solves both these issues as it is fully decentralized, transparent and offers incentives to maintaining the network in the form of digital tokens. The team of experts behind the project is publicly known and they even developed a hardware router that you can use to access the network directly. To learn more about HOPR visit the project’s website, and follow the community on Twitter, Telegram and Discord. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

The European Commission has proposed legislation to “ensure full traceability of crypto-asset transfers, such as bitcoin,” in order to prevent and detect “their possible use for money laundering or terrorism financing.” Moreover, “anonymous crypto asset wallets will be prohibited.” New EU Rules Ban Anonymous Crypto Transactions and Wallets The European Commission presented a set of legislative proposals Tuesday aimed at strengthening the EU’s anti-money laundering and countering terrorism financing (AML/CFT) rules. Among the proposals is a revision of the 2015 Regulation on Transfers of Funds “to trace transfers of crypto-assets.” The proposals take into account “new and emerging challenges linked to technological innovation,” including “virtual currencies, more integrated financial flows in the Single Market and the global nature of terrorist organisations,” the Commission explained. At the heart of the proposed legislative package is the creation of a new “EU-level Anti-Money Laundering Authority (AMLA).” It will be “the central authority coordinating national authorities to ensure the private sector correctly and consistently applies EU rules.” The proposals also include “full application of the EU AML/CFT rules to the crypto sector.” The commission explained that currently only certain categories of crypto service providers are included in the scope of the EU AML/CFT rules. The proposals extend the rules to the entire sector, “obliging all service providers to conduct due diligence on their customers.” The European Commission described: Today’s amendments will ensure full traceability of crypto-asset transfers, such as bitcoin, and will allow for prevention and detection of their possible use for money laundering or terrorism financing. The announcement adds that in applying full EU AML/CFT rules to the crypto sector.: Anonymous crypto asset wallets will be prohibited. The Commission noted that “anonymous bank accounts are already prohibited by EU AML/CFT rules.” The legislative package will now be discussed by the European Parliament and Council. “The future AML Authority should be operational in 2024 and will start its work of direct supervision slightly later, once the Directive has been transposed and the new regulatory framework starts to apply,” the European Commission concluded. What do you think about the European Commission’s proposals? Let us know in the comments section below. View the full article