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Regional reports from an exposition in Chengdu indicate Bitmain has unveiled a new scrypt ASIC rig for dogecoin, litecoin, digibyte, and verge mining. The Chinese reporter who disclosed the information says the new Bitmain model has a hashrate of around 9,500 megahash per second (MH/s) and overseas prices are reduced by 13%. Bitmain Unveils New Scrypt Miner With 9.5 Gigahash According to the Chinese journalist Colin ‘Wu’ Blockchain, Bitmain has revealed a new scrypt coin mining device that packs a lot more hashrate than the company’s previous model. Wu tweeted out the news on Saturday after Bitmain showed off the specifications at an exposition held in Chengdu. “On June 19th, Bitmain released the new Litecoin/Dogecoin mining machine L7,” the China-based reporter tweeted. “With a hashrate of 9,500 MH/s and 3425W, equivalent to 19 sets of L3+, and the price is $15,000, [the] overseas purchase price is reduced by 13%. The delivery time is November 2021,” he added. Moreover, Wu also said that Bitmain had shown off its “5nm-based Bitcoin water-cooled mining machine and a preview of the Dash mining machine D7.” Photo via Colin ‘Wu’ Blockchain from Twitter. The news from Bitmain follows the company’s unveiling of the Antminer E9 ethereum mining rig at the end of April. The device is not for sale yet and E9 prices have not been announced. “[The] Antminer E9 ethereum miner. Equivalent to 32 – 3080 graphics cards, Equipped with a hashrate of 3 GH/s,” Bitmain explained at the time. The new scrypt miner from Bitmain follows the October 2017 release, the Antminer L3+ which produces around 600 MH/s. Presently, the Innosilicon brand A6+ Ltcmaster is the most profitable scrypt miner on the market today with 2,200 MH/s. A single A6+ Ltcmaster will give an owner $26 per day in profit using today’s exchange rates and $0.12 per kilowatt-hour. Using the same electricity rate and today’s crypto prices for the most profitable scrypt coins, the Bitmain L3+ can rake in around $6.35 per day in profit. If the specifications revealed by the Chinese journalist Colin ‘Wu’ Blockchain and the screenshot Wu shared as well are correct, the new Bitmain scrypt miner will be the most powerful on the market once it is released to the public. For some perspective, the upcoming Bitmain scrypt ASIC machine would be more than four-times more powerful than Innosilicon’s A6+ Ltcmaster. 9,500 megahash per second is equivalent to 9.5 gigahash per second (GH/s) and the Innosilicon machine captures 2.2 GH/s. What do you think about Bitmain unveiling the new scrypt miner with 9,500 MH/s specifications? Let us know what you think about this subject in the comments section below. View the full article

Cornell University professor of economics and former head of the IMF’s China division, Eswar Prasad, sees three major flaws in bitcoin. Because of these flaws, the professor says that “bitcoin really has set off something of a search for a better alternative.” Cornell University’s Professor of Economics Outlines Bitcoin’s Flaws Cornell economics professor Eswar Prasad talked about bitcoin’s flaws in an interview with CNBC Thursday. Prasad is the Nandlal P. Tolani Senior Professor of Trade Policy and professor of economics at the Charles H. Dyson School of Applied Economics and Management at Cornell University. He is also a senior fellow at the Brookings Institution. He was previously chief of the Financial Studies Division in the research department of the International Monetary Fund (IMF) and, before that, was the head of the IMF’s China division. The first flaw concerns the energy usage in bitcoin mining, which Prasad said is “certainly not good for the environment.” The professor pointed out that in contrast Ethereum is coming up with a method “That is going to be much less energy intensive, and it could deliver a lot of the benefits that bitcoin was supposed to deliver.” He added: It could also make transactions much cheaper and quicker. The second point the professor made was that bitcoin is not so anonymous after all. He cited the Colonial Pipeline case where law enforcement claimed to have recovered $2.3 million in bitcoin. He noted that other cryptocurrencies may offer more anonymity than BTC, such as monero and zcash. The third flaw, according to the professor, is that bitcoin does not work well as a currency. He described BTC transactions as “slow and cumbersome” for use in payments, adding that its market is very volatile and the cryptocurrency has become a speculative asset. Prasad concluded: So bitcoin really has set off something of a search for a better alternative and people seem to be on the lookout for a medium of exchange that does not require them to go through a trusted institution like the government or a commercial bank — but it’s not quite there yet. Do you agree with the professor? Let us know in the comments section below. View the full article

Robert Kiyosaki, the best-selling author of “Rich Dad Poor Dad,” has predicted the “biggest crash” in world history. He also expects the price of bitcoin to fall to the $24K level. Robert Kiyosaki Foresees Biggest Crash in History Coming Famous author and investor Robert Kiyosaki has predicted that the biggest crash in the history of the world is on the way. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. Over 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Kiyosaki tweeted Friday: Biggest bubble in world history getting bigger. Biggest crash in world history coming. Buying more gold and silver. Waiting for bitcoin to drop to $24K. Crashes best time to get rich. However, Kiyosaki did not elaborate on how he came up with his BTC price prediction. When the price of bitcoin began falling substantially in May, the Rich Dad Poor Dad author urged people to buy the dip. “I hear ‘I can’t afford bitcoin.’ Bitcoin is crashing, good news. Now is your chance. Get educated. Buy coins that outperform bitcoin for pennies. Stop whining and take action,” he advised at the time. When the BTC price fell to the $37K level on May 30, Kiyosaki tweeted: “Bitcoin crashing. Great news. When price hits $27,000, I may start buying again. Lot will depend upon global-macro environment.” He emphasized: “Remember the problem is not gold, silver, or bitcoin. Problems are the incompetents in government, Fed & Wall Street.” Kiyosaki has long been pro-bitcoin. He believes that the U.S. dollar is dying as the government continues to give people free money. “Do not save. Buy gold, silver, bitcoin. Dollar is dying,” he said in April last year. While the famous author expects the price of bitcoin to fall to the $24K level in his most recent tweet, he is bullish about the cryptocurrency in the long run. He said in April this year that the price of BTC will reach $1.2 million in five years, noting that money printing by the government, excessive stimulus, and the devaluation of the U.S. dollar have given bitcoin and gold their appeal. What do you think about Robert Kiyosaki’s prediction? Let us know in the comments section below. View the full article

Grayscale Investments is considering 31 crypto assets to add to its family of investment products. The company, with $32.9 billion in crypto assets under management, currently offers investments in 13 cryptocurrencies. Grayscale Investments announced Friday 13 additional crypto assets it is considering for investment products. These cryptocurrencies add to the initial list of coins the company announced it was considering in February. The 13 additional crypto assets are 1inch (1INCH), bancor (BNT), curve (CRV), internet computer (ICP), kava (KAVA), kyber network (KNC), loopring (LRC), near (NEAR), polygon (MATIC), ren (REN), solana (SOL), universal market access (UMA), and 0x (ZRX). The crypto assets already in consideration are aave (AAVE), cardano (ADA), compound (COMP), cosmos (ATOM), eos (EOS), flow (dapper labs) (FLOW), makerdao (MKR), monero (XMR), numeraire (NMR), polkadot (DOT), reserve rights (RSR), stacks (STX), sushiswap (SUSHI), synthetix (SNX), tezos (XTZ), the graph (GRT), uniswap (UNI), and yearn finance (YFI). As of June 18, Grayscale’s net assets under management (AUM) totaled $32.9 billion. The company’s bitcoin trust (GBTC) had the largest AUM in the industry, of almost $24.12 billion, followed by the ethereum trust with an AUM of more than $7.13 billion. The Grayscale family of products currently consists of 13 crypto assets: basic attention token (BAT), bitcoin (BTC), bitcoin cash (BCH), chainlink (LINK), decentraland (MANA), ethereum (ETH), ethereum classic (ETC), filecoin (FIL), horizen (ZEN), litecoin (LTC), livepeer (LPT), stellar lumens (XLM), and zcash (ZEC). In addition, the company offers a digital large-cap fund. In April, the company announced its intention to convert GBTC into a bitcoin exchange-traded fund (ETF). Currently, the U.S. Securities and Exchange Commission (SEC) has not approved any bitcoin ETF. This week, the SEC asked for comments from interested individuals on the proposed Vaneck bitcoin ETF. Meanwhile, the firm has been saying that it is seeing rising institutional demand for bitcoin. CEO Michael Sonnenshein commented in March: “Digital currencies have reached an inflection point. Investor demand has never been higher, and every day we’re seeing new entrants to what has surely become a bona fide asset class.” What do you think about all these crypto assets Grayscale is considering making into investment products? Let us know in the comments section below. View the full article

Over the last few weeks, there have been many reports about crackdowns in China tied to bitcoin mining operations in various provinces. 30-day statistics show the hashrate has been fluctuating wildly, and across the last week it has slid downward roughly 26%. Reports Show Bitcoin Mining Crackdowns in Five Chinese Provinces Despite the slide, the top three mining pools in the world, which represent roughly 41% of the hashrate today, are considered Chinese mining pools. This doesn’t necessarily mean the mining pools actually host physical bitcoin mining facilities in mainland China, however. How much hashrate resides in China is the million-dollar question these days. Especially after Beijing’s crackdown on the mining industry and the following bans in a number of provinces. Five provinces in China have seen bitcoin mining bans. The mandates first appeared in Inner Mongolia, as reports surfaced during the first week of March 2021. Then on June 9, 2021, a report disclosed that specific bitcoin miners in Xinjiang had been instructed to shut down. Another mandate appeared for crypto miners in Qinghai province. After Qinghai province, authorities in Yunnan cracked down on bitcoin mining operations in that region as well. Bitcoin (BTC) hashrate on June 19, 2021, according to 30-day stats. Then, while everyone was waiting to hear about Sichuan, following the May 31 report that notified the public a meeting was taking place, the news finally came. Officials in Sichuan sent notice to bitcoin miners in the province to shut down by June 25. Existing Hashrate Reference Maps and Faults Found in Assumptions Hashrate charts show during the last seven days, the Bitcoin network hashrate has slipped and currently hovers a hair above the 100 exahash per second (EH/s) zone. The issue is no one is quite sure exactly how much hashrate resides in China, and how many operations are forced to migrate. The Cambridge Center for Alternative Finance index map otherwise referred to as CBECI. The CBECI map has not been updated since April 2020. Many mainstream reports pointed to the Cambridge Center for Alternative Finance index map, otherwise known as CBECI. The unreliable CBECI map hasn’t been updated since April 2020 and the map indicates 65% of the hashrate is in China. The Cambridge Center for Alternative Finance index map otherwise referred to as CBECI. The CBECI map has not been updated since April 2020. The CBECI data also has significant limitations toward estimation, as it only collects data from three large pools and the “aggregate geo-location data based on the IP addresses of hashers connecting to mining pools.” Cambridge further notes that “hashers in certain locations use virtual private networks (VPNs) or proxy services to hide their IP address and thus location.” Moreover, at any given time, a large number of stealth miners have been known to dedicate hashrate to the BTC network. These stealth miners, otherwise dubbed as “unknown” in hash distribution pie charts, make up around 6% of the network hashrate this weekend. At times, during the last few years, mystery miners have gathered more than 20% of the hashrate. The web portal digiconomist.net is similar, as it shows an unreliable chart with shares of the Bitcoin network’s hashrate, but it too has not been updated since April 2020. In China, digiconomist.net’s survey shows operations in Beijing, Nei Mongol, Guangdong, Qinghai, Yunnan, Sichuan, Shanxi, Guizhou, Gansu, Ningxia, Shaanxi, Zhejiang, and Hebei. The web portal digiconomist.net’s hashrate share by country chart has not been updated since April 2020. There’s also a published study from Coinshares, which highlighted that 74% of the world’s bitcoin mining operations were driven by renewable energy in 2019. The in-depth report does contain a survey of a number of mining locations around the world and includes a map. A Coinshares map published in a bitcoin mining report back in 2019. The Coinshares’ map is fairly basic but conveys the general idea that there’s a large portion of miners in China and specifically Sichuan. Between the CBECI map, digiconomist.net chart, and Coinshares’ report we still don’t have an up-to-date percentage of how many miners are located in China. However, there’s a recent report from July 15, 2020, published by Bitooda with support from asset manager Fidelity Investments that cuts China’s hashrate down to 50% from previous estimates. The most recent geographical study on hashrate location stems from a Bitooda report with support from Fidelity Investments. The Bitooda report, published in July 2020, shows China’s hashrate percentage is only 50%. This figure shows the geographic distribution of surveyed mining capacity vs the estimated 9.6GW total capacity. Additionally, faults in the assumptions underpinning the digiconomist.net data have been found. In 2018, another Coinshares’ study had shown criticism toward the Digiconomist’s BECI and noted there was a large discrepancy regarding the total energy consumption data. This Bitooda-created pie chart shows the geographic distribution of surveyed mining capacity vs. Estimated 9.6GW total capacity. The Bitooda report published on July 15, 2020. Hashrate Distribution and Ostensible Headquarters Finally, the public does have access to data from hashrate distribution by pool names. The top five dominant mining pools today are Antpool, Viabtc, F2pool, Btc.com, and Poolin. In terms of hashrate percentage, below Poolin is Binance Pool, an unknown entity, and Foundry USA, respectively. Three-day hashrate distribution for the Bitcoin (BTC) blockchain on June 19, 2021, according to Btc.com stats. Measuring data this way is faulty because not all pools are hard operations, as many pools are a mix of hashpower from physical facilities and miners from all around the world pooling computing power with the pool. There is no known location for Binance Pool and Poolin says its operation is headquartered in Hong Kong. Annual hashrate distribution for the Bitcoin (BTC) blockchain on June 19, 2021, according to Btc.com stats. The mining pool Antpool (top, blue) has seen a 60% increase in hashpower across the last 12 months. Poolin’s website details that it does have offices in Beijing, Chengdu, and Changsha, China. Bitmain’s Antpool says its headquarters is in China, and Viabtc’s records and F2pool (formally known as Discus Fish) also show China-based headquarters. Btc.com’s records indicate the mining company’s headquarters resides in Amsterdam. Roughly 41% of the hashrate could be considered as being from Chinese pools, but we cannot be sure of how much of this hashpower actually stems from mainland China. As stated previously, Chinese bitcoin mining pools are not necessarily located in China. Fact is, figuring out exactly how much bitcoin hashrate resides in mainland China is still a puzzle. Look out for the follow-up to this comprehensive report that covers the complete landscape of Bitcoin hashrate distribution over the last 12 years. What do you think about the geographical locations of miners? How much hashrate do you think resides in China? Let us know what you think about this subject in the comments section below. View the full article

H-E-B shoppers will soon be able to obtain digital assets at more than two dozen locations in Texas. Coin Cloud, a crypto automated teller machine (ATM) provider, says 29 H-E-B stores will feature kiosks that provide access to more than 30 crypto assets including defi tokens and stablecoins. H-E-B Stores in Texas to Host Coin Cloud Digital Currency ATMs 29 H-E-B locations will soon have cryptocurrency ATMs at their disposal. The machines will be provided by Coin Cloud, a digital currency ATM provider based in Las Vegas, Nevada. Coin Cloud calls its devices “digital currency machines” or “DCMs.” The company is set to reach 2,000 DCM installations after the H-E-B locations are complete. Besides H-E-B grocery stores, Coin Cloud has partnerships with the National Alliance of Trade Associations, United Natural Foods, Inc. (UNFI), and CAL’s Convenience Store. The DCMs are stretched across the United States and countries in South America as well. In the U.S., Coin Cloud has crypto machines in states like Delaware, Texas, Oregon, New Jersey, California, Kansas, Arizona, Oklahoma, Illinois, Ohio, Tennessee, and more. According to a report from the Houston Chronicle, a H-E-B grocery store chain executive confirmed that 29 stores will start the pilot program. Most of the Coin Cloud H-E-B-based DCM kiosks will be located in the Houston area. Coin Cloud crypto machines accept both debit and credit cards, alongside cash. The announcement on Friday revealed that over the last six months, Coin Cloud has installed 750 DCMs. “We’re thrilled to reach this juncture of our business, as our growth is a tangible representation of interest in digital currencies and of Coin Cloud’s mission to provide communities with seamless options to buy and sell,” Chris McAlary, the founder and CEO of Coin Cloud, remarked. “As we continue to expand, retailers will become increasingly aware of the important role digital currency plays in the future.” According to coinatmradar.com statistics as of June 19, 2021, there are approximately 21,842 cryptocurrency automated teller machines installed worldwide. Other crypto ATM providers competing in Texas for ATM real estate include Coinsource, Rockitcoin, and Bitaccess. What do you think about H-E-B grocery stores hosting 29 crypto ATMs? Let us know what you think about this subject in the comments section below. View the full article

According to local media, leading South African financial institution FNB is denying allegations of a banking relationship with the recently collapsed crypto investment company, Africrypt. FNB also insists it did not enable the investment company’s transactions which helped Africrypt’s two directors disappear with billions of dollars in investor funds. Disappearance of Investor Funds The financial institution’s denial comes nearly two months after Africrypt abruptly stopped operating. At that time, the crypto investment firm’s management claimed Africrypt’s trading system had been breached. This breach compromised client accounts, wallets, and nodes, thus forcing Africrypt to freeze all accounts, the directors claimed. However, shortly after the so-called breach, Africrypt directors Ameer Cajee and his brother Raees Cajee are alleged to have “transferred the crypto investment’s pooled funds from its South African account(s) through bitcoin on the blockchain in April 2021.” South African media reports estimate that as much as $3.6 billion in investor funds cannot be accounted for. Meanwhile, in his response to a media inquiry, FNB spokesperson Nadiah Maharaj refused to acknowledge the existence of any relationship between FNB and Africypt. According to a media report, Maharaj, who cites client confidentiality restrictions, stated: FNB once again confirms that it does not have a banking relationship with Africrypt. Due to client confidentiality, FNB cannot provide any information on specific bank accounts. Use of Crypto Mixers An investigation by local media suggests that after successfully siphoning investors’ funds, the Cajee brothers fled to the United Kingdom. These findings are also corroborated by another investigation by Hanekom Attorneys, a law firm that has been retained by victims of the Africrypt fraud. In addition to these findings, the law firm’s investigations further reveal that Africrypt directors had used mixers in an attempt to obfuscate the flow of the funds. While the case has now been reported to the Hawks (South Africa’s elite police unit), the founder of the law firm, Darren Hanekom, is quoted in the report as suggesting Africrypt’s accounts with FNB have already been “drained” and that “the entirety of investors’ funds” may have been subjected to the mixing service. What are your thoughts on this latest South African crypto investment fraud event? Tell us what you think in the comments section below. View the full article

Indian rapper Raftaar is reportedly accepting cryptocurrency for his upcoming performance in Canada. “Nevertheless, I’ve finally taken the baby steps in this direction and all the credit goes to my manager, Ankit Khanna for making this dream a reality for me,” Raftaar said. Raftaar, an Indian rapper, lyricist, dancer, TV personality and music composer, made headlines this weekend for being the “first Indian artist to accept performance fee in cryptocurrency.” Raftaar’s real name is Dilin Nair. The performance for which Raftaar will be paid in cryptocurrency is a one-hour virtual event in Ottawa, Canada, for a private group of about 100 people. It is scheduled for the second week of July. “I’ve always been an ardent admirer of blockchain technology. I’ve always wondered why artistes and managers alike haven’t explored the potential of this disruptive medium,” Raftaar opined. “Nevertheless, I’ve finally taken the baby steps in this direction and all the credit goes to my manager, Ankit Khanna for making this dream a reality for me.” The rapper did not mention which cryptocurrency he will be paid in, however. Khanna, Raftaar’s longtime business partner and manager, commented: “In my opinion, music will be one of the first industries to be completely and thoroughly disrupted through the blockchain. The artist can now go directly to the public in every single way without the need of middlemen.” Meanwhile, the Indian government has yet to announce its policy on cryptocurrency. A bill that seeks to ban cryptocurrencies, such as bitcoin, was scheduled to be introduced during the budget session of parliament but was not. There are now reports that the government is re-examining the proposals in the bill and is setting up a panel of experts to come up with new recommendations. Do you think all performers should accept cryptocurrency? Let us know in the comments section below. View the full article

India’s Narcotics Control Bureau (NCB) has arrested a Mumbai resident known as “crypto king,” who allegedly used bitcoin to purchase narcotics on the dark web. Indian cryptocurrency exchange Wazirx says the accused is not one of its customers. ‘Crypto King’ Arrested in India A Mumbai resident, Makarand Pardeep Adivirkar, also known as “crypto king” in the country’s underground drug circuit, has been arrested by India’s Narcotics Control Bureau (NCB). He allegedly used bitcoin to purchase drugs on the dark web that were delivered to India from Europe. Sameer Wankhede, director of the Mumbai Unit of NCB, explained that “In November 2020, a team of NCB Mumbai had seized 20 LSD blots from Kharodi Village in Malad,” local media reported. The director was further quoted as saying: The seized psychotropic substance was purchased from Europe by using bitcoin by a drug peddler from Mumbai. “His modus operandi was to receive cash, and provide bitcoins on marginal profits by using his wallet that was used to purchase drugs from the darknet,” the NCB described. Following reports that the crypto king may have used Indian cryptocurrency exchange Wazirx to facilitate his drug purchases, the exchange issued a statement clarifying that he is not its user. Wazirx tweeted: “On June 11, 2021, Wazirx had received an email from the NCB enquiring about the said accused and his trading activity on Wazirx. Upon checking our records, we identified that the accused is not a Wazirx user, and we communicated the same to the authorities on June 12, 2021.” The exchange continued: “That being said, we want to reiterate that Wazirx follows global best practices on KYC and AML compliances and has a robust transaction monitoring system in place. We perform a stringent KYC verification of every user to verify their identity as well as perform a secondary KYC verification through linked bank accounts of users before allowing a customer to transact on Wazirx.” The exchange stressed: We allow only KYC-verified and whitelisted accounts to withdraw funds from our exchange. What do you think about this case? Let us know in the comments section below. View the full article

CEBL, the Canadian men’s basketball league, will offer its professional basketball players the option to receive a portion of their salary in cryptocurrency. The new payment option has been enabled through a partnership with the Canadian cryptocurrency exchange Bitbuy. Bitbuy to Convert Canadian Dollar Salaries Into Bitcoin The Canadian Elite Basketball League (CEBL) announced the deal with Bitbuy days before the start of its third season, on June 24. The league, which was founded four years ago, launched in 2019 with six teams, all of them owned and managed by the Canadian Basketball Ventures group. It now says the crypto partnership will be the first of its kind for any professional sports league in North America. CEBL Commissioner and CEO Mike Morreale commented: Our partnership with Bitbuy speaks to our commitment to players, and also to our forward-thinking approach to how we go about our business. We appreciate Bitbuy’s investment in helping us further grow Canada’s official national pro basketball league. With the help of Bitbuy, the basketball players will be able to opt-in to receive a portion of their salary in bitcoin (BTC). The trading platform will convert the Canadian dollar payments into cryptocurrency and deposit the digital coins to the players’ personal crypto wallets. The exchange, which has more than 300,000 users in Canada, will also become an official sponsor of the league as part of the agreement with the CEBL. Basketball Players Ask for Bitcoin Salary Option According to Charlie Aikenhead, VP of Marketing at Bitbuy, the partnership represents a significant shift in how athletes are thinking about compensation. “We’re excited to help the CEBL’s players protect their long-term wealth by getting paid in Bitcoin,” he added, emphasizing that the crypto company is proud to support homegrown Canadian sports. The cooperation between Bitbuy and the CEBL comes in response to basketball players voicing interest in crypto payments to the league’s management. They referred to the case of NFL’s Russell Okung who last year became the first professional athlete in North America to be paid in bitcoin. In December, the Carolina Panthers offensive lineman announced he would be getting half of his 13 million-dollar salary in BTC, as Bitcoin.com News reported. Guelph Nighthawks’ guard Kimbal Mackenzie, who will be among the first CEBL players to receive remuneration in crypto, was quoted in a press release as saying: The opportunity to be paid in bitcoin is something I’m incredibly excited about. I believe cryptocurrency is the future. Mackenzie thinks this is an investment that will appreciate greatly over the next decades and insists that his decision was a no-brainer. The crypto salary option, in his view, also highlights that the CEBL is one of the top professional sports leagues in the world. Cryptocurrency prices have increased significantly over the past year as both individual investors and companies sought to protect their funds in uncertain economic times due to the global pandemic. BTC, the crypto with the largest market capitalization, reached a record high of over $63,000 in April. It has since dropped to below $40,000 per coin and is currently trading between $35,000 and $36,000 on Saturday. Do you expect other sports leagues to offer their players the option to get paid in cryptocurrency? Tell us in the comments section below. View the full article

A group of Spanish deputies filed a proposal that seeks to accelerate the implementation of a digital euro. The proposal, presented on June 8, asks for the creation of a group to study the implementation of a digital currency in the Eurozone. This study group, if created, would be aided by the Bank of Spain. However, the issuance of a digital euro is still under study by the European Central Bank (ECB). Spanish Deputies File Proposal to Accelerate the Digital Euro A group of Spanish deputies from the Socialist Party introduced a no law proposal to accelerate the issuance of a digital euro. The proposal, filed on June 8, asks the central government to establish a study group to examine the benefits of the implementation of such currency. The Bank of Spain would aid this central bank digital currency (CBDC) study group in this task. The proposal mentions four motives to advance this research: first, the advances in digitalization techniques that make these new payment forms possible. Second, the establishment of a CBDC would decelerate the use of cryptocurrencies and other payment methods separated from the banking system. These methods are difficult to control and scrutinize. Another motive mentioned has to do with financial inclusion. The proposal states a central bank digital currency would improve financial inclusion, with the penetration of smartphones aiding the population to acquire financial products directly. The fourth motive mentions the impending disappearance of cash for health and public costs reasons. However, experts argue that Spain might not have the legal competence to issue a digital euro just on Spanish lands. This is what Alfredo Muñoz, professor of Commercial Law at the University of Madrid, declared. According to him: Spain lacks the competence to decide on the issuance of euros, digital or not. The EU has “exclusive competence” in the monetary policy of the member states. The Digital Euro Still Under Study The proposal presented by these Spanish deputies seems contradictory, considering a digital euro is still under study. The ECB has declared this type of electronic currency is still in the experimentation phases. The official digital euro website clarifies the institution will decide on this subject towards the middle of this year. However, other voices have advanced more specific information on the subject. For example, Christine Lagarde, President of the European Central Bank, stated the digital Euro could arrive in five years. She stressed they had to do it right because the task what not trivial. Other countries like the Bahamas and China have already been testing and phasing in their own CBDCs. But Spain, as part of the EU, will have to wait for the decision of the European Central Bank. What do you think about the no law proposal presented by Spanish deputies? Tell us in the comments section below. View the full article

Ledger customers are receiving fake wallets by mail to steal their cryptocurrency. A user in Reddit reported receiving a suspicious package that claimed to be mailed by Ledger. The package included a letter stating the user needed to substitute the current wallet for safety reasons. Ledger has been the source of several leaks of information of customer data. Criminals are presumably using this information to organize these schemes. Scammers Are Mailing Fake Wallets to Ledger Customers Scammers are reportedly mailing fake hardware wallets to Ledger customers to steal their private seeds. According to the statements of a Reddit user, he received a package sent by Ledger with a legit-looking Ledger Nano X. The package also contained a letter that stated their current wallet was compromised. This letter stressed the user needed to replace their current wallet with the new one. It declared: For security purposes, we have sent you a new device you must switch to a new device to stay safe. There is a manual inside your new box you can read that to learn how to set up your new device. The package reportedly included instructions to set up the new cryptocurrency wallet with the private key. However, upon further inspection, the hardware wallet mailed was a modified version of the original Nano X. Also, this modified wallet contained a series of different connections inside of the device. Mike Grover, a security consultant, talked to Bleepingcomputer about the fake wallet. Grover declared: This seems to be a simply flash drive strapped on to the Ledger with the purpose to be for some sort of malware delivery. The Ledger web page has updated its phishing campaign page to alert users of this new modus operandi. Customers Facing Huge Data Leaks The company suffered two important data leaks last year. The first one happened on July 14, when an unidentified third party accessed one million emails and 9,500 addresses from its users. Furthermore, last December 20, the information was leaked to the internet for free. As a result of this, its customers are facing a series of phishing and scam attacks by mail. The blog of James A. Chambers gives proof of these attacks. The article titled “Life as a Ledger Wallet Data Breach Victim” tells all the problems these leaks have created for him remotely. The company is even facing a class-action lawsuit from part of the users filed last April 6. However, this is one of the first attacks targeting users physically by sending modified products. What do you think about this new attack on Ledger customers? Tell us in the comments section below. View the full article

Danske Bank will not block credit cards used in crypto trading, according to its newly announced position on cryptocurrencies. The Danish bank would also accept deposits related to crypto investments, although it follows a cautious approach towards decentralized digital assets. Denmark’s Largest Bank Clarifies Its Stance on Cryptocurrencies Responding to mounting inquiries from customers and other stakeholders, Danske Bank has released an official position on crypto assets. “In recent years, cryptocurrencies such as bitcoin and ethereum have received significant attention from investors and media,” the bank noted, outlining its current stance on crypto trading and investing. Denmark’s largest banking institution recognizes that “cryptocurrencies represent a significant digital innovation in financial services” and praises the “great potentials in the blockchain technology.” At the same time, it continues to maintain “a very cautious approach towards cryptocurrencies.” The bank listed several reasons for that. In the first place, Danske finds it hard to meet its obligations to fight financial crime and money laundering as crypto trade is “not always sufficiently transparent.” Pricing is opaque and fluctuating, the bank added, leaving investors with limited market insight. Furthermore, as crypto trading is only partially regulated, clients do not get the same level of consumer protection that comes with other financial products, Danske insisted. The bank also feels that the “extremely energy intensive” processing of cryptocurrency transactions clashes with its own ambition to promote sustainable development. Crypto Investors Are Welcome to Deposit Funds With Danske Citing these concerns, Danske Bank reminded customers that its platforms do not currently support the trading of cryptocurrencies and crypto-based financial instruments. The financial institution also advised against investing in digital assets or related products in general. However, the Danish banking group pledged its support for the development of crypto regulations under the new EU legislation called Regulation of Markets in Crypto Assets (MiCA) while emphasizing: We continuously monitor developments in the area of cryptocurrencies, and as the cryptocurrency market matures and is further regulated, we will review our position. Despite its hesitant attitude towards cryptocurrencies, Danske is not completely turning its back on crypto traders and investors. For example, the bank said it doesn’t block credit cards when they are used in crypto trading, provided customers comply with applicable anti-money laundering rules and laws. The bank also stressed it would treat deposits of funds stemming from cryptocurrency investments just like deposits from any other type of investment. What’s your opinion about Danske Bank’s position on cryptocurrencies? Share your thoughts in the comments section below. View the full article

Galaxy Digital’s co-president Damien Vanderwilt announced today that his firm has partnered with Goldman Sachs to help provide bitcoin futures products. The partnership marks one of the first occasions where an American multinational investment bank has partnered with a crypto asset service provider. Galaxy Serves as Goldman’s Counterparty for Bitcoin Futures Trading Goldman Sachs is trading bitcoin futures products with Galaxy Digital according to statements made by Galaxy’s co-president Damien Vanderwilt during an interview with CNBC. Galaxy Digital is a financial services and investment management innovator founded by the company’s CEO Mike Novogratz. Vanderwilt explains that Goldman Sachs, the bank with $2.1 trillion assets under management (AUM), may entice other financial incumbents to follow its lead. “There’s a whole dynamic with the major banks that I’ve seen time and time again: safety in numbers,” Vanderwilt explained during his discussion about the subject. “Once one bank is out there doing this, the other banks will have [fear of missing out] and they’ll get on-boarded because their clients have been asking for it.” According to Vanderwilt, Goldman depends on Galaxy because regulatory policy stops the multinational investment bank from handling the leading crypto asset directly. Max Minton, head of digital assets for Goldman’s Asia-Pacific region said during the announcement that the bank procures clientele with the assets they demand. “Our goal is to equip our clients with best-execution pricing and secure access to the assets they want to trade,” Minton remarked. “In 2021, this now includes crypto, and we are pleased to have found a partner with a broad range of liquidity venues and differentiated derivatives capabilities spanning the cryptocurrency ecosystem.” As More Institutional Players Join the Fray, ‘the Less Volatility There Will Be’ The statements from Minton and Vanderwilt follow the report that said Goldman was prepping to offer ether futures and options swaps. At the time, Goldman said “institutional adoption will continue” in the crypto space. In mid-April Galaxy Digital revealed it had entered the bitcoin exchange-traded fund (ETF) fray when it submitted its Form S-1 registration with the U.S. Securities Exchange Commission (SEC). Vanderwilt also said that when more institutional players join the crypto ecosystem volatility will grow less and less. “You’re moving the market participants from being north of 90% retail, a huge chunk of which have access to ridiculous amounts of leverage, into an institutional community, who have proper, tried-and-tested rules and regulations about leverage, asset-liability mismatch, and risk,” Vanderwilt concluded. “The more activity that moves into the institutional community, the less volatility there will be.” What do you think about Goldman Sachs and Galaxy Digital partnering to offer bitcoin futures to clients? Let us know what you think about this subject in the comments section below. View the full article

The American professional stock car racing driver, Landon Cassill, has announced he has partnered with the crypto-asset platform Voyager Digital Ltd. in order to get paid in cryptocurrency. Cassill’s announcement notes that the racer will be paid in crypto for the remainder of the 2021 NASCAR Xfinity Series season. Landon Cassill to be Paid in Digital Currencies, JD Motorsports’ No. 4 Chevrolet Will Sport Voyager Branding According to an announcement published on nascar.com, Landon Cassill, the professional stock car racing driver who drives the JD Motorsports’ No. 4 Chevrolet, will be paid in crypto for the rest of the NASCAR season. Cassill is a big supporter of the crypto ecosystem and a friend of Voyager CEO Steve Ehrlich. The partnership will also see the No. 4 Chevy feature a “Voyager paint scheme in Saturday’s Tennessee Lottery 250 at Nashville Superspeedway.” Cassill explained to nascar.com that he checks his “Voyager account probably 100 times a day.” Even though cryptocurrencies can be volatile, Cassill stressed that he is willing to take the risk. “Well, I mean, there is risk in holding cryptocurrency as there is with any stock or any investment,” Cassill remarked further. “But for me, it’s something I’m familiar with, I’m comfortable with and I feel like I have a good handle on what I’m willing to risk and what I need to pay my bills.” Education and Furthering Crypto Visibility Landon Cassill follows the growing list of celebrities, athletes, and luminaries getting into digital currencies. Last year, NBA star Spencer Dinwiddie tokenized his contract and the NFL offensive tackle Russell Okung is paid in bitcoin (BTC). NASCAR driver Darrell “Bubba” Wallace revealed last July that the bitcoin logo would be featured on his Cash App-sponsored Chevy No. 43. Voyager’s CEO Ehrlich believes the partnership with Landon Cassill brings further visibility to the crypto ecosystem. “It goes all to education, and what we try to do is educate the masses on why cryptocurrency matters, why digital dollars is where we’re going,” Ehrlich explained. “I always tend to ask people as customers or people that are wanting to learn more: When was the last time you actually used real greenback dollars? Most people don’t. They use debit cards, and everything is electronic anyway. So, this is the next phase of electronic currency.” Cassill, a 31-year-old Iowan, has ranked 12th two times, once at Darlington Raceway in May and Daytona Road Course last February. Cassill has also been racing for a very long time since he was a little boy. At 16, Cassill obtained the record for the youngest winner in ASALMS history back in 2006. Ehrlich concluded by noting that this aims to go “to the moon” in terms of what they can do for “education and growth of both brands.” What do you think about the NASCAR driver Landon Cassill being fully paid in cryptocurrency? Let us know what you think about this subject in the comments section below. View the full article

Are you a crypto trader looking for a fun opportunity to earn more returns or a soccer fan who wants to add some excitement during the Euro Cup? Great news, crypto-powered investing app SimpleFX launches a trading contest with a $50,000 prize pool. The SimpleFX Euro 2021 Trading Cup SimpleFX is an online broker covering crypto, forex, stocks, gold and other assets that has been around since 2014. The platform is designed to be powerful yet very easy-to-use and offers a very quick registration process for cryptocurrency accounts – no KYC is needed just a simple signup with an e-mail. You can invest using bitcoin, ether, tether, Binance Coin or any of the 40 supported cryptocurrencies. Recently SimpleFX announced a promotion that is great incentive to check out the app if you are a crypto trader that doesn’t know it yet. The platform is launching a trading competition called the “Euro 2021 Trading Cup” during the UEFA European Football Championship. The event will feature a $50,000 prize pool, 100 rewards, $7,000 for the winner, and a $1,000 giveaway each week. It will start on June 14 and last until July 11 and you only need a $200 minimum deposit to participate. This is a return-on-investment competition, and the prizes add on top of your regular profits. Just trade your favorite assets (with up to 1:500 leverage) and the traders with the highest ROI percentage win. The live rankings will be publicly available to everyone to follow and users can also win additional prizes by sharing referral links and inviting friends. Why Crypto Traders Choose SimpleFX Crypto traders have flocked to SimpleFX due to the many advantages the app offer. As mentioned above, no ID verification is needed for opening cryptocurrency accounts and signup is done with just an e-mail. You can invest using dozens of supported cryptocurrencies and there are no minimum deposits. It offers up to 50x leverage on stocks and up to 500x leverage on Forex $1000. It has a credible track record of over seven years in the market, and a global reach with over 20 fiat currencies and many languages supported. SimpleFX develops a frequently updated WebTrader (working in every browser), great native iOS and Android apps and even support for Huawei’s new HarmonyOS ecosystem. In addition, the MetaTrader4 (MT4) software is available on Windows and MacOS computers for users that are used to it from trading with traditional online brokers. The platform also now has a crypto staking module where you can get up to 8.55% annual interest on your ether deposits. You can even use your “frozen” tokens for trading on SimpleFX at the same time. It has also recently integrated BSC payments to the platform to leverage its fast transaction settlements. By enabling BSC payment, it is possible to send and receive a growing number of compatible tokens at ultra-low fees (100 times lower than Ethereum ERC-20). To learn more about the advantages of SimpleFX for crypto traders and join the fun visit the website right now. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

A report published by the independent marketing intelligence company, Miq Digital, explains that Hawaii has seen the most crypto demand of all the states in the U.S., with a 687% increase since 2020. As far as increased cryptocurrency demand since last year, Nevada, California, Florida, and Colorado followed the island state with increases of over 600% as well. Hawaiian Interest in Crypto Skyrockets, Americans Love Dogecoin, Crypto Acceptance Among American Merchants Increases The independent marketing intelligence firm Miq Digital has published a research report on interest in cryptocurrencies across all the American states since 2020. According to the study, demand has increased this year following a similar pattern as the crypto asset market bull run. The firm analyzed search data from sources like Google Trends and found that around 6% of Americans either use or own digital currencies in 2021. “Around 6% of the U.S. population now use or own crypto, and the trend is growing,” the Miq Digital report details. As far as the top five states that saw increases above 600%, Hawaii topped the list with 687%. The Aloha State is followed by California (655%), Colorado (637%), Florida (628%), and Nevada (621%). “We analysed search data to uncover the states driving the ongoing crypto craze. These are the areas with the largest interest in crypto in 2021, alongside the increase in demand since 2020,” Miq explains. In addition to the U.S. “hotspots,” the Miq Digital study also highlights some of the most popular cryptocurrencies discovered in the search analysis. The top coin on the list is the meme-based crypto asset dogecoin (DOGE), followed by other popular tokens such as maker (MKR), ethereum (ETH), dash (DASH), litecoin (LTC), and bitcoin (BTC). The study shows the Shiba Inu crypto asset DOGE saw a “1,781% increase in interest across the U.S.” The Miq Digital study indicates the “dogecoin hotspots” in the U.S., and highlights Alaska, California, North Dakota, and Washington as the biggest DOGE-supporting states. Ethereum followed dogecoin with a 777% increase in interest across the nation. “Ethereum hotspots” include California, New Jersey, and Washington according to the researchers. Furthermore, “acceptance of cryptocurrencies among businesses is slowly growing across the U.S.,” the study reveals. Moreover, the acceptance of BTC has proliferated across a number of different states. California has the most businesses recorded with “440 businesses” and the state is followed by the Sunshine State, as Florida captures “180 businesses.” What do you think about Miq Digital’s study and how Hawaii has seen the most crypto demand of all the states? Let us know what you think about this subject in the comments section below. View the full article

Miami’s Mayor Francis Suarez told the press on Thursday that his city was open to bitcoin miners from China who are flocking to find new homes. Suarez says he hasn’t actually talked to any miners from China but said he wants them to know the opportunity is there. Miami’s Mayor Says City Is Open to Chinese Mining Operations, Touts Florida’s Cheap Nuclear Power According to an interview, Francis Suarez, the American attorney and 43rd mayor of Miami, is inviting Chinese miners to his city to set up shop if they desire. Suarez is a fan of the cryptocurrency ecosystem, the decentralized crypto asset bitcoin (BTC), and he has explained that he owns BTC as well. The Miami mayor has also said on a number of occasions that he wants the city of Miami to become a crypto hub for entrepreneurs and builders. On Thursday, Suarez told CNBC he’s inviting Chinese miners to seek shelter in the region after the crackdown stemming from Beijing. Suarez explained that the region has an abundance of clean and cheap electricity thanks to nuclear energy. “We want to make sure that our city has an opportunity to compete,” Suarez said during his interview. “We’re talking to a lot of companies and just telling them, ‘Hey, we want you to be here,’” the mayor added. Suarez made these statements to CNBC from the second floor of the Miami City Hall building which is located near the Turkey Point Nuclear Plant. In fact, Florida houses a great abundance of nuclear power plants all over the state. “The fact that we have nuclear power means that it’s very inexpensive power,” Suarez stressed during his chat with the press in Miami. According to CNBC’s report, miners in Miami could obtain a rate of 10.7 cents per kilowatt-hour (kWh). At $0.11 per kWh, a Bitmain Antminer S19 Pro with 110 terahash per second (TH/s) can get around $18.59 per day using current BTC exchange rates. The Microbt Whatsminer M30S++ 112 TH/s gets around $18.50 per day at $0.11 per kWh according to data from asicminervalue.com. Suarez’s invitation to Chinese miners comes at a time when governments in China’s provinces are banning bitcoin mining operations. The latest crackdown happened today, as Sichuan miners have been instructed to close shop by June 25, 2021. “We understand how important this is… miners want to reach a certain kilowatt price per hour, and we’re working with them on it,” Suarez told CNBC. What do you think about Miami’s mayor trying to woo Chinese miners to the city? Let us know what you think about this subject in the comments section below. View the full article

Leading Chinese banks have introduced digital yuan withdrawals at more than 3,000 ATM locations in Beijing. Residents of the capital city will now be able to exchange their e-CNY funds for cash and vice versa. Some of the teller machines are located in a popular shopping area. Banks Launch Support for Digital Yuan at ATMs Across Beijing The Beijing branches of two major banks in the People’s Republic, Industrial and Commercial Bank of China and the Agricultural Bank of China, have taken the lead in offering two-way exchange between the digital and traditional version of the national fiat currency. The new service is now available at thousands of automated teller machines in Beijing, Xinhua Finance reported on Friday. The option has already been activated on more than 3,000 all-in-one ATMs operated by ICBC across the capital city. By launching the function on its deposit and withdrawal teller devices, the Industrial and Commercial Bank of China became the first banking institution in Beijing to support digital yuan-cash exchange, the publication noted. Agricultural Bank of China has also deployed more than 10 of its ATM machines in Beijing’s Wangfujing area, Xinhua added, all of which facilitate the exchange of digital yuan with cash. This part of the Chinese capital is a popular shopping district centered on Wangfujing street. The launch comes after earlier tests in the city of Shenzhen. Along with ICBC, the ABC is among the country’s top four state-run commercial banks. People’s Republic Pressing On With E-CNY Adoption Among dozens of CBDC projects underway around the world, including in Europe, Russia, and the U.S., China has arguably the most advanced one. A number of businesses now accept the e-CNY and workers have been paid salaries in the digital currency issued by the People’s Bank of China. Financial authorities have launched digital yuan trials in major cities and started testing the new currency in cross-border transactions with Hong Kong. The Chinese government has also been dispersing digital money through the so-called red envelope lotteries. Earlier this month, authorities in the capital Beijing and Shanghai announced they are going to distribute over $9 million in digital yuan amongst residents of the two cities. Similar giveaway campaigns have been carried out in Shenzhen, Chengdu and Suzhou. Lottery winners are able to spend the handouts with merchants participating in the trials, such as the popular online marketplace Jd.com. Last year, the e-commerce site became the first online platform to accept the new Chinese digital currency. Others have since followed, while payments giant Alipay announced it is going to link its app with the digital yuan wallets. Do you think the residents of Beijing are going to use the digital yuan ATMs? Tell us in the comments section below. View the full article

Spain’s second-largest bank, BBVA, is opening up its bitcoin trading and custody service to all private banking clients in Switzerland in a few days. The bank has been testing the cryptocurrency service for six months. “The bitcoin management system is fully integrated” in the bank’s app, “where its performance can be viewed alongside that of the rest of the customers’ assets, funds, or investments.” BBVA’s Fully Integrated Bitcoin Service Spain’s Banco Bilbao Vizcaya Argentaria (BBVA) announced Friday that BBVA Switzerland will open a bitcoin trading and custody service to all private banking clients on June 21. The bank has been testing this new cryptocurrency service with a selected group of clients for six months. BBVA explained: For the time being, BBVA Switzerland’s offer includes bitcoin trading and custody services, with the aim of extending it to other cryptocurrencies. The entity will not offer advice on these types of investments. BBVA explained that the new cryptocurrency service is only available in Switzerland for the time being because the country has “clear regulation and widespread adoption” of crypto assets. Founded in 1857, BBVA “has a strong leadership position in the Spanish market, is the largest financial institution in Mexico, it has leading franchises in South America,” its website details. At the end of March, the group had 719.7 billion euros in total assets, 79.8 million customers in more than 25 countries, 122,021 employees, 7,254 branches, and 30,747 ATMs. BBVA is Spain’s second-largest bank after Banco Santander. Its presence in Switzerland is through a 100% group-owned franchise. The bank’s announcement details: One of the most important attractions of BBVA Switzerland’s offer is that the bitcoin management system is fully integrated in its app, where its performance can be viewed alongside that of the rest of the customers’ assets, funds or investments. This service “allows investing and combining traditional and digital financial assets in the same investment portfolio,” the bank noted, adding that it helps clients “in terms of simplicity when it comes to trading, account statements, tax returns, etc.” BBVA further stated that “Through the customer’s personalized digital wallet, bitcoins can be converted into euros or any other current currency, and vice versa, automatically, without delays and without the illiquidity that affects other digital wallets or independent brokers.” Alfonso Gómez, CEO of BBVA Switzerland, commented: “We are bringing the quality of banking service to the fledgling world of crypto assets. With this innovative offer, BBVA positions itself as a benchmark institution in the adoption of blockchain technology.” He revealed: Over the coming months, we will continue to enhance and expand the digital asset offering. What do you think about BBVA’s bitcoin service? Let us know in the comments section below. View the full article

PRESS RELEASE. A South Korean blockchain-based community messenger “Nestree” has announced that it is launching an innovative and cutting-edge reward-based digital commerce platform called “Nestree Mall’. Nestree Mall is part of the roadmap of the blockchain platform that will expand the core business of Nestree and increase the use of its native token EGG. Reward-based Comprehensive Shopping Mall Nestree Mall is the first reward-based shopping mall for the cryptocurrency market that is designed to incentivize users. Nestree will integrate NestreeMall with its blockchain-based community messenger service to provide value to its community and EGG token holders. Nestree Mall will offer products from famous brands at competitive prices and discounts to EGG token holders. The range of the discount will be calculated according to the holder’s EGG reserves which are checked using the wallet interlocking system in the Nestree Wallet and Metamask Wallet. “Nestree Mall” introduced 6 premium levels with different ranges of applicable discounts for products offered on the platform. Depending on the amount of EGG tokens held by a user, they can access different amounts of discounts, which might vary from 15% up to 90% discounted from the original price of the product. It should be noted, that by simply holding the EGG Tokens, some people might purchase something for 1/10 of its price, which might even be cheaper than any retailer can offer. It should be noted that this incentive format is the first seen in the cryptocurrency industry, which encourages the use and holding of the EGG tokens. Nestree also plans to hold special exhibitions to introduce and sell trendy domestic and foreign brand products. The exhibition will display products that are not offered by other shopping malls and ensure competitiveness by attracting exclusive sales on certain brands. Nestree Mall launch will further affect the value of the EGG tokens and their consistent usability. As the Nestree Mall expands and grows, more users will be attracted by the prospect of purchasing cheap products leading to demand for EGG tokens. The continuous demand and decrease in the supply of EGG will result in the rise in the value of EGG tokens benefiting token holders and investors. It should also be noted, that after the announcement of the launch of the “Nestree Mall”, the EGG token’s price surged more than 50% on Bithumb. Dynamic community-driven platform Nestree is an incentivized community messenger that is based on blockchain and also features a unique reward system that allows communities to co-exist and benefit from one another. It is catered towards community growth and extends beyond the regular messenger platform. Nestree provides an easy-to-use platform for non-crypto users to earn cryptocurrency without extensive knowledge of trading, KYC requirements, and more. Users can make new friends, engage in activities and earn rewards on Nestree. It also provides advanced features for community owners and admins to manage their communities effectively. Since its launch in 2019, Nestree has acquired more than 100,000 users globally and is one of the popular blockchain-based messenger applications. It has also secured significant partnerships with global brands like Samsung and IBM. Nestree native token EGG is listed on Bithumb, Bibox, Coinone and Bithumb Global and also available on the Samsung Blockchain. The launch of the Nestree Mall continues the growing ecosystem of Nestree, and more developments are expected in the coming months. About Nestree Nestree is a ground-breaking community platform with a dynamic rewarding system and business incubation. The Nestree Messenger is an advanced, reward-based blockchain integrated messenger. Catered towards community growth and beyond as a messenger, the Nestree Messenger adopts the trustless and borderless nature of cryptocurrency to enrich the ecosystem with the reward. Nestree provides one of the most optimal gateways for non-crypto users to encounter and earn cryptocurrency without the knowledge of trading, KYC requirements, private key management, etc. Medium https://medium.com/nestree Website https://www.nestree.io/index.html Telegram: https://t.me/nestree Twitter: https://twitter.com/nestree_io Facebook: https://www.facebook.com/nestree.io 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 regional reports, bitcoin miners in Sichuan have been told by the Ya’an municipal government that they have until June 25 to shut down operations. Sichuan has been eyed closely in recent times as it’s estimated that a large demographic of miners are situated in the region. Sichuan Ya’an Energy Bureau Tells Bitcoin Miners to Close Shop Sichuan power plants have been told to stop servicing bitcoin miners in the area according to reports stemming from the Ya’an municipal government. The regional publication Panews was told by an “insider” that the Sichuan Ya’an Energy Bureau and the Science and Technology Bureau held a meeting about the decision and came to a resolution to “clean up and rectify bitcoin mining companies in Ya’an.” Sichuan #bitcoinmining bans from 25 June. This is a poor translation, but it is the official documents. Medium to large farms will not be allowed power, smaller farms will likely be targeted later. China is done with #bitcoin for good it seems. RIP China miners. pic.twitter.com/m0bB9wdLy3 — Miner Daily (@DailyMiner) June 18, 2021 The Panews report further says that all mines need to shut down on June 25 and it includes abandoning hydropower plants as well. Additionally, the Chinese journalist Colin “Wu” Blockchain reported on the incident on Twitter. “On June 18, Sichuan officially issued a document requesting power generation companies are required to immediately stop supplying power to any virtual currency mining, and report the relevant situation on the 25th,” the reporter noted. He further added: The document identified 26 large mining projects and required to be monitored and shut down. At present, the hashrate of Bitcoin and Ethereum has not fluctuated. There are many small and medium-sized hydropower stations in Yunnan, Sichuan, and it may be difficult for them to receive government supervision. However, large-scale projects will be shut down in the short term. There have been various reports during the last few weeks noting that a number of provinces in China have been cracking down on bitcoin mining. Many of these reports have been sharing the Cambridge Center for Alternative Finance index map which claims to show 65% of the Bitcoin network’s hashrate resides in China. However, the CBECI hashrate map is not reliable whatsoever, as the map has not been updated since April 2020. Bitcoin’s hashrate has been sliding in recent weeks and fluctuating wildly as well. Miners from China have seen lots of shuffling among pools in terms of bitcoin hashrate distribution. At the time of writing, the hashrate is around 120 exahash per second (EH/s) after being above 140 EH/s six hours ago. What do you think about Sichuan province shutting down bitcoin miners in the region? Let us know what you think about this subject in the comments section below. View the full article

The mining company Bitfarms has revealed the firm will commence trading on Nasdaq Global Select Market starting on June 21. The firm claims to process 1% of the global hashrate and with “99% green hydroelectricity.” Bitfarms Renewable Operations to List on Nasdaq Global Select Market The Canadian bitcoin mining firm Bitfarms announced on Thursday that the company will be listed on Nasdaq on Monday, June 21. The company is already listed on the TSX Venture Exchange and leverages the ticker “BITF.” For the Nasdaq listing, the company will utilize the same ticker symbol. According to the announcement, Bitfarms has obtained DTC eligibility which essentially means shares can be deposited through DTC, the largest securities depository in the world. “Listing on Nasdaq is an important achievement for Bitfarms and is a significant milestone following multiple years of development and achievement by the company,” Bitfarms’ founder and chief executive officer Emiliano Grodzki said during the announcement. “We started this company four years ago with a clear belief in the institutional adoption of Bitcoin and Bitcoin mining. This belief has guided us as we worked to build one of the largest Bitcoin mining operations worldwide,” Grodzki added. Bitfarms’ website says that it currently operates 69 megawatts of energy and dedicates around 1,420 petahash per second (PH/s) of SHA256 hashrate. The rate of Bitfarms’ facilities located in Quebec turns out to be around 1.42 exahash per second (EH/s). Bitfarms operates bitcoin mining plants in the Quebec regions of Farnham, Cowansville, Sherbrooke, Saint-Hyacinthe, and Magog. Bitfarms is not the only crypto mining company getting listed these days as Hut 8 Mining was also approved for Nasdaq listing earlier this week. However, Grodzki details that Bitfarms will be the largest publicly traded miner, in terms of hashrate and operations nearly all powered by green energy. “When Bitfarms begins trading on the Nasdaq, it will be the largest publicly traded Bitcoin miner in North America using greater than 99% hydroelectric renewable electricity,” Grodzki remarked. Statistics, at least according to both firm’s websites, shows Bitfarms has a bit more hashpower than Hut 8. While Hut 8 consumes 109 megawatts of energy, the firm’s mining operations in Medicine Hat and Drumheller, Alberta dedicate around 1,073 PH/s of SHA256 hashrate to secure the Bitcoin network. What do you think about Bitfarms listing shares on Nasdaq? Let us know what you think in the comments section below. View the full article

The Sandbox is a decentralised, community-driven gaming ecosystem where designers and artists can create, share and monetise NFTs and gaming experiences on the Ethereum blockchain and is partnered with many industry giants, such as Square Enix and Atari. Its popular virtual real estates, known as LANDs, are taking over the NFT world. Exclusive Bitcoin.com giveaway For a chance to become a LAND owner next to the Gemini ESTATE for free, all you have to do is create an account through this tracking link and press “Sign In” in the top right corner and create your account with your preferred login method. What are LANDs? A LAND is a digital piece of real-estate in The Sandbox’s metaverse, each one is a unique, non-fungible ERC-721 token on the Ethereum blockchain. Amongst other things, these LANDs can be developed upon by their owners and monetised. For example, a game, diorama or an art gallery could be built on these LANDs, to give just three examples. A group of adjacent LANDs could even be merged to form an ESTATE, providing the owner with an even larger area to develop upon. LANDs are a finite resource in The Sandbox’s metaverse, a total of 166,464 LANDs will be available. Some LANDs on The Sandbox are owned by partners, such as Square Enix, Atari, Rollercoaster Tycoon, Binance, Smurfs, Deadmau5, and so on. The proximity of a LAND owner’s LAND to these major partners, and other key positions, will play a role in the gameplay, visitor counts, economy and visibility of the games built on those LANDs – and therefore also its monetisation potential. What can you do with LAND in the Sandbox? Owning LAND in The Sandbox opens up a door of many opportunities to its owner. The primary function of LANDs are to host and play experiences upon them, such as games, dioramas, galleries, social hubs and so on, which can be monetised by the owner as a source of income. They can also be used to host contests and events. These experiences can be created using The Sandbox’s Game Maker software. $SAND, which is The Sandbox’s utility token, can also be staked upon any LAND you own. In doing so, you will earn yourself some exciting rewards. This includes highly coveted GEM tokens, which are valued and sought by digital asset artists in The Sandbox. Owning LAND will also give you a voice in the governance of The Sandbox metaverse. LAND owners and $SAND token holders will be the voice of The Sandbox and will be involved in determining and governing the future of the platform via a decentralised autonomous organisation (DAO). If you are not a strong developer – that’s okay too. You can hire designers and artists to collaborate upon your real estate with you and create amazing experiences together. Or, if you have no interest in experience development at all, you will be able to rent your LAND to designers to be able to develop experiences upon, generating you some passive income from holding your digital real estate. Where can you get your slice of digital real estate on The Sandbox? You can purchase LAND in any of The Sandbox’s upcoming public LAND sales. These sales will take place on the map of The Sandbox’s official website. You should join and follow The Sandbox’s official social media and community to keep an eye out for these sale announcements. Alternatively, LAND can also be purchased or bidded for in auctions on the secondary market through OpenSea, which is the largest NFT marketplace on the Ethereum blockchain. Create an account on The Sandbox and get your first digital real estate – LAND – today! This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

Iran’s information technology minister has pitched the idea of transforming the Persian Gulf island of Kish into an international center for cryptocurrency exchanges. Iranian authorities plan to create a financial free zone in the territory which has already attracted cryptocurrency miners. Iran ICT Minister Says Gulf Island of Kish Has What It Takes to Be a Crypto Exchange Center Muhammad Javad Azari Jahromi, the Islamic Republic’s minister for information and communications technology, made the crypto-friendly proposal during a recent visit to Kish. The 91-square-kilometer island, situated off the Persian Gulf coast in Southern Iran, already hosts one of the country’s free trade zones. The official was quoted by IRNA news agency as saying: Kish has the infrastructure to emerge as a hub for international crypto exchanges in the region. Authorities need to start talks with neighboring countries. Kish Island is a popular travel destination in the Persian Gulf, with numerous shopping malls and hotels. The island’s permanent population consists of around 40,000 residents, but its tourist attractions and free trade zone status are a magnet for a million visitors each year. The Tehran government plans to set up a financial free zone there as well. Electrical power generated on the island cannot be transferred to the mainland and crypto miners are welcome to use the excess energy to mint digital currencies, the Financial Tribune noted. According to its report, 12 crypto mining farms are already operating in Kish Island, Maku and Aras free trade zones, as well as in the Payam Special Economic Zone in Alborz Province, Shiraz Bushehr and Rafsanjan special economic zones. Iranian Government to Develop a Regulatory Roadmap for Crypto Exchanges While cryptocurrency mining is a legal activity for licensed companies in Iran, the trading of digital assets is generally prohibited with a few exceptions. In April, the Central Bank of Iran (CBI) authorized domestic banks and exchangers to utilize cryptocurrency mined inside the country in payments for imports. Iranian regulators have tried to curb other trading, prompting the country’s fintech industry to warn that restrictions would deprive the nation of opportunities. The ICT minister’s proposal comes amid efforts by policymakers in Tehran to prepare new regulations for cryptocurrency exchanges. Earlier in June, the country’s Economy and Finance Minister, Farhad Dejpasand, stated that the government cannot interfere with the development of crypto technologies for too long. The matter is more complicated than with other regulatory challenges, the Iranian business publication noted, and no state body is willing to bear full responsibility. Abolfazl Rouhani, Deputy Chief of Iran’s High Council of Cyberspace, recently said that “Cryptos could help the country bypass sanctions in a limited number of cases” while emphasizing that the central bank should come up with a clear approach to this effect. The CBI has indicated, however, that it’s not rushing with new rules for cryptocurrency exchanges. The regulator is planning to collaborate with other government institutions on a roadmap for the regulation of the crypto market. Do you think crypto exchanges will be allowed to operate freely in Iran? Share your expectations in the comments section below. View the full article