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The president of the European Central Bank (ECB), Christine Lagarde, has shared her view on El Salvador making bitcoin legal tender. She confirmed that the central bank’s policy on bitcoin and other cryptocurrencies has not changed. ECB’s Lagarde Comments on El Salvador Making Bitcoin Legal Tender ECB President Christine Lagarde has shared her view last week on El Salvador’s move to make bitcoin legal tender. The country passed a bill last week making bitcoin legal tender alongside the U.S. dollar. Lagarde first admitted that since she left the International Monetary Fund (IMF), she is “no longer familiar with the situation in El Salvador.” The ECB chief noted, “I know that it is a country that is under the IMF program.” While pointing out that “the issue of having dual tender in a particular economy is a difficult one,” Lagarde confirmed: That certainly does not change our approach to crypto assets and to regulations, supervision, and proper classification that they should be under to avoid misinformation and misleading representations. After El Salvador passed the bill making bitcoin legal tender, the IMF said that it saw legal and economic issues regarding this move. A BIS official also commented recently that it is an “interesting experiment” but it does not change the BIS’s view on bitcoin and other cryptocurrencies, insisting that BTC fails a means of payment test. Lagarde warned last month that cryptocurrencies are prone to money laundering and have no intrinsic value. In January, she said: “It’s a highly speculative asset, which has conducted some funny business and some interesting and totally reprehensible money laundering activity.” What do you think about Lagarde’s comments on bitcoin? Let us know in the comments section below. View the full article

Investment bank JPMorgan Chase has warned of a further bitcoin price decline, expecting an incoming bear market. The bank’s analysts look at the trend in bitcoin futures and see “an unusual development and a reflection of how weak bitcoin demand is at the moment from institutional investors.” However, a number of people disagree with this analysis. JPMorgan Warns of Incoming Bear Market JPMorgan Chase analysts, led by Nikolaos Panigirtzoglou, warned of an incoming bitcoin bear market in a note to investors last week. The analysts looked at bitcoin futures which have been trading at a discount to the spot price, known as backwardation. “We believe that the return to backwardation in recent weeks has been a negative signal pointing to a bear market,” they wrote, adding: This is an unusual development and a reflection of how weak bitcoin demand is at the moment from institutional investors that tend to use regulated CME futures contracts to gain exposure to bitcoin. JPMorgan’s analysts affirmed that their outlook for bitcoin was negative. They pointed out another sign that worries them — the sharp decrease in bitcoin’s market share of the total crypto market, which fell from 60% to about 40% between April and May. The analysts call this decline in the BTC market share “a bearish signal carrying some echoes of the retail-investor-driven froth of December 2017.” They see similarities between the current situation and the bitcoin crash in 2018 when investors rushed into cryptocurrencies as they boomed in 2017 and mass exited as the prices plunged during 2018. The bitcoin futures curve was also in backwardation for most of 2018 when the price of BTC dropped from about $15K to $4K, JPMorgan detailed. Some people took to Twitter to disagree with JPMorgan’s analysis. Twitter account DTC Crypto Trading, for example, wrote: “So the ‘analyst’ at JPMorgan says that backwardation on BTC while price is moving up is a sign of the bear market. No clue who ‘analyzes’ this but they might want to hire better people. Pretty much every time BTC has had a sustained period of backwardation, price moved up.” Several people agreed with this analysis. Meanwhile, rival investment banks are seeing huge demand from institutional investors. Even the CEO of JPMorgan, Jamie Dimon, recently admitted that institutional clients want exposure to bitcoin. Goldman Sachs has repeatedly said that it is seeing huge institutional demand for BTC, noting that the cryptocurrency has become a new asset class. Morgan Stanley is already offering some bitcoin investments to wealthy clients due to the high demand for the crypto asset. Bitcoin’s price moved higher Sunday afternoon following clarification by Tesla CEO Elon Musk stating that his company will resume accepting the cryptocurrency “When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.” At the time of writing, the price of bitcoin sits at $38,874 based on data from Bitcoin.com Markets. What do you think about the bitcoin prediction by JPMorgan? Let us know in the comments section below. View the full article

Tesla CEO Elon Musk has announced that when there is “confirmation of reasonable (about 50%) clean energy usage by miners with positive future trend,” his electric car company will start accepting bitcoin for payments again. Elon Musk Reveals When Tesla Will Resume Accepting Bitcoin Tesla CEO Elon Musk talked about when Tesla will resume accepting bitcoin for payments Sunday. He wrote: When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions. Tesla began accepting bitcoin for car payments in March. Musk confirmed at the time that any BTC received will not be converted into fiat currencies. This followed the company’s filing with the U.S. Securities and Exchange Commission (SEC) declaring that it had purchased bitcoin worth $1.5 billion. In April, its bitcoin stash was worth $2.5 billion. However, Tesla suspended accepting bitcoin as a payment option in May, citing environmental issues. Musk then met with North American bitcoin miners to discuss using renewable energy in mining. The miners subsequently set up Bitcoin Mining Council. Nonetheless, Musk confirmed that Tesla did not sell any bitcoins due to environmental concerns. The company did sell some coins during the first quarter of this year, however, before the mining issues surfaced. During Tesla’s Q1 2021 earnings announcement, Master of Coin Zachary Kirkhorn revealed that the company trimmed its BTC position by 10%. Musk explained at the time that the BTC sale was “essentially to prove liquidity of bitcoin as an alternative to holding cash on balance sheet.” Musk’s Sunday tweet was in response to allegations cited in a Cointelegraph article. Sygnia CEO Magda Wierzycka alleged that the Tesla technoking had manipulated the bitcoin market and the SEC should investigate him. The South African billionaire believes that Musk knowingly pumped bitcoin with the announcement that Tesla was going to accept BTC and then “sold a big part of his exposure at the peak.” However, Musk denied the allegations. “This is inaccurate,” he tweeted, reiterating his earlier explanation of why Tesla sold some bitcoins: Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without moving market. What do you think about Elon Musk’s comments on bitcoin and when Tesla will resume accepting the cryptocurrency for payments? Let us know in the comments section below. View the full article

At the Bitcoin 2021 conference in Miami, attendees listened to the first phone interview with the Silk Road’s Ross Ulbricht from the depths of the maximum-security prison in Tucson, Arizona. During the interview, Ulbricht spoke about bitcoin and how the decentralized crypto asset is “transforming the global economy.” Following the phone call, Ulbricht was placed in the hole according to the official Free Ross Twitter account. Ross Ulbricht Speaks About Bitcoin in His First Interview from Prison Ross Ulbricht’s voice was heard by the attendees who went to the Bitcoin 2021 conference in Miami this year. The recent interview was recorded by Bitcoin Magazine and is the first recorded phone conversation with Ulbricht after his arrest. Ulbricht touched upon the loss of his freedom and noted that from his confinement he’s “spent the last eight years watching Bitcoin grow up from in here.” During the phone call, Ulbricht noted that he was around during the Bitcoin network’s nascent days and at that time there were not many altcoins and forks. Ulbricht said with all that aside he looked at the crypto ecosystem as one big “family.” Through his lens in prison, Ulbricht detailed that he’s seen the cryptocurrency space invoke lots of innovation since his departure. Ulbricht stated: I’ve seen incredible innovation. I’ve seen inspiring courage. We didn’t know how things would turn out for Bitcoin back in the beginning, but over the years, I’ve been continually impressed with what you’ve accomplished— We are transforming the global economy. We have brought a taste of freedom and equality to far corners of the world. I know we can transform criminal justice, too. Ulbricht: ‘Bitcoin Is Strong. Bitcoin Is Powerful. Our Work Is Not Over’ Ross Ulbricht’s case has been called a “miscarriage of justice” and more than 250 organizations, eminent individuals and global leaders have shown support for Ulbricht. The creator of the Silk Road marketplace has one of the largest Change.org petitions in the U.S., as the petition has been signed by 433,845 individuals to date. The petition is seeking clemency for Ulbricht as his offenses were non-violent and his “investigation, trial and sentencing were rife with abuse.” Ulbricht spoke about the Silk Road during his phone call with Bitcoin Magazine and said: I thought with Bitcoin, I could try and do something that actually makes a difference— Back then, I was impatient. I rushed ahead with my first idea, which was Silk Road… That’s a 26-year-old who thinks he has to save the world before someone beats him to it. I had no idea Silk Road would work, but now we all know it caught on. It was used to sell drugs, and now I’m in prison. Ulbricht also said that it was ironic that he created the Silk Road because he wanted to further “freedom, privacy, [and] equality.” But what happened was he “wound up in a place where those things don’t exist.” Meanwhile, he sees a lot of potential with bitcoin and the crypto participants, in general, because he believes “Bitcoin is strong.” “Bitcoin is powerful. We are powerful. And our work is not over,” Ulbricht stressed. Following the phone call interview, the Free Ross Twitter account detailed that Ulbricht was recently put in the hole. “Ross has been put in the SHU (aka ‘the hole’) after a recorded interview he did over the phone with [Bitcoin Magazine] was broadcasted at the [Bitcoin 2021 conference] this weekend. Please keep Ross in your thoughts & prayers,” the account tweeted on June 8. What do you think about Ross Ulbricht’s recent phone interview and his reflections on the Silk Road and the Bitcoin network’s innovations? Let us know what you think about this subject in the comments section below. View the full article

The Republic of Cuba is suspending the use of U.S. dollars due to embargo restrictions with U.S. and foreign banks. The central bank of Cuba’s restrictions stems from the “obstacles that the U.S. embargo creates for the national bank system.” Cuba Bans USD Deposits, BCC Tells Tourists to ‘Arrive With a Currency Other Than the Dollar’ Cuba, the island country located where the Caribbean Sea, Gulf of Mexico, and the Atlantic Ocean meet, said this week U.S. dollars will be suspended in the country. The mandate comes from the country’s central bank and foreign tourists have been told to leave U.S. dollars at home when visiting. The announcement was invoked at a roundtable discussion that was aired on state-sponsored Cuban television. “In view of the obstacles that the U.S. embargo creates for the national bank system to deposit abroad the U.S. dollars that are collected in the country, a decision was made to temporarily suspend deposits in U.S. banknotes in Cuba’s bank and financial system,” the Central Bank of Cuba (Banco Central de Cuba, BCC) members said. Yamilé Berra Cires, the vice president of the BCC, explained during the roundtable discussion that at the beginning of the Trump administration’s leadership, the U.S. tightened the embargo’s grip. The United States has had an embargo with Cuba since 1958 and the U.S. has had numerous issues with Cuba during the Eisenhower presidency and Kennedy presidency as well. After the 2008 crisis, the U.S. and Cuba seemed to gravitate toward friendlier terms during the Obama presidency. On Friday, the Miami Herald reported that USD in the Cuban black market skyrocketed 3x higher than the global exchange rate at 70 Cuban pesos. However, BCC vice president Berra Cires claims issues have gotten worse since Trump and said 24 foreign banks stopped dealing with Cuba. Berra Cires also said during the roundtable discussion that 95 foreign financial institutions reported on the transgressions of Cuban national banks doing business with counterparties. “It is ever more difficult for Cuba to find international banking or financing institutions willing to receive, convert or process U.S. currency in cash,” Berra Cires further remarked. “People who will be coming into the country during this time will have to arrive with a currency other than the dollar,” Francisco Mayobre Lence the BCC’s first vice president said. BCC Minister-President: ‘There Is No Other Option’ Of course, after hearing about the USD ban in Cuba, members of the cryptocurrency community wanted Cuba to adopt digital currencies like El Salvador recently did with bitcoin. “It’s like [a] 50-year embargo. It’s really depressing,” one individual wrote about the Cuba situation with America on Reddit. “Will they take crypto now?” another Redditor asked in the r/cryptocurrency thread. Another crypto enthusiast responded to the question and said: I doubt they want to be the last Latin American country to do so. Minister-president of the Cuban central bank, Marta Sabina Wilson González explained during the roundtable discussion that Cuba had no choice but to make the decision. “We had no choice but to take this measure, which we are explaining at the Round Table, as we always do when it is a measure that affects the people, who will understand that there is no other option,” the minister detailed. What do you think about Cuba restricting the use of U.S. dollars in the country? Let us know what you think about this subject in the comments section below. View the full article

U.S. Senator Pat Toomey has urged Treasury Secretary Janet Yellen to “make significant revisions” to the proposed crypto regulation by the Financial Crimes Enforcement Network (FinCEN) and the planned adoption of the guidance issued by the Financial Action Task Force (FATF). Senator Asks Janet Yellen to Revise Proposed US Crypto Regulation U.S. Senator Pat Toomey wrote a letter to Treasury Secretary Janet Yellen Thursday regarding the U.S. approach to cryptocurrency regulation. “I write to raise concerns with two proposals involving the Department of the Treasury related to the regulation and oversight of cryptocurrencies,” he began. The first concern relates to FinCEN’s proposed rule for cryptocurrency transactions and the second relates to the FATF guidance on cryptocurrencies and virtual asset service providers (VASPs). The senator described: While I recognize that FinCEN and FATF’s proposals are seeking to address the misuse of cryptocurrencies for illicit activity, if adopted, they would have a detrimental impact on financial technology (fintech), the fundamental privacy of Americans, and efforts to combat illicit activity. I urge you to make significant revisions to them. The senator spent the first part of his letter explaining that “Fostering financial innovation is important” for the U.S. He believes that “cryptocurrencies stand to dramatically improve consumers’ privacy, access to financial services, and power to make decisions for themselves.” Toomey then asserted that FinCEN’s proposed crypto rule “will negatively impact” the U.S., citing two key reasons. Firstly, it would impose “onerous recordkeeping” and reporting requirements on crypto transactions “that extend beyond existing requirements for U.S. dollar transactions.” Secondly, he argued: FinCEN’s proposed rule may also prove to be counterproductive in combating illicit activity … By limiting individual privacy and the ability to transact with financial institutions, the rule would likely push bad actors to utilize methods that do not interface with financial institutions. “As a result, such cryptocurrency transactions would be less susceptible to appropriate government oversight and detection,” he continued. The senator then pointed out that some reporting requirements for USD transactions have not been updated for more than 40 years. “Existing requirements on the U.S. dollar are no longer appropriately tailored to identify illicit activity,” he opined, urging Treasury Secretary Yellen to examine whether they are “appropriate for U.S. dollar transactions.” He emphasized that cryptocurrency “can be more easily traceable than transactions utilizing U.S. dollars” in some cases. Turning attention to the FATF guidance, Senator Toomey asserted: FATF’s guidance will drive cryptocurrency transactions away from financial institutions, undermining the ability of law enforcement and analytics firms to identify and track illicit activity. FATF should revise its guidance to focus on transactions and entities that warrant regulation. Concluding his letter to Yellen, the senator said that the U.S. “should support, not inhibit, financial innovation,” adding: “I urge you to take a more thoughtful approach to identifying illicit activity so financial innovation can flourish and the privacy of Americans remains respected.” Do you think Treasury Secretary Yellen will heed Senator Toomney’s advice? Let us know in the comments section below. View the full article

The Texas Department of Banking has announced that state-chartered banks can provide cryptocurrency custody services. “The Texas Department of Banking believes that the authority to provide these services with respect to virtual currencies already exists,” the banking authority said. Texas State-Chartered Banks Officially Authorized to Offer Crypto Custody Services The Texas Department of Banking issued a notice to the banking industry Thursday, stating: Texas state-chartered banks may provide customers with virtual currency custody services, so long as the bank has adequate protocols in place to effectively manage the risks and comply with applicable law. “While custody and safekeeping of virtual currencies will necessarily differ from that associated with more traditional assets, the Texas Department of Banking believes that the authority to provide these services with respect to virtual currencies already exists pursuant to Texas Finance Code § 32.001,” the notice clarifies. The banking authority explained that each bank will choose what crypto custody services to offer based on its own expertise, risk appetite, and business model. The bank may, for example, allow customers to retain direct control over their own cryptocurrencies and merely store copies of their private keys associated with the coins. Alternatively, the bank may take control of customers’ cryptocurrencies, creating new private keys that it will hold on behalf of customers. The Texas banking regulator has previously determined that custody services may be provided by a Texas state-chartered bank in either a fiduciary or non-fiduciary capacity. If a bank offers custody services in a fiduciary capacity, it would have the authority to manage customers’ cryptocurrencies as it would any other type of asset held in such capacity. Before a bank can offer cryptocurrency services, the management must “conduct due diligence and carefully examine the risks involved in offering a new product or service through a methodical risk assessment process,” the regulator continued. If the management and board of directors decide to move forward with the crypto services, “effective risk management systems and controls must be implemented to measure, monitor, and control relevant risks associated with custody of digital assets.” What do you think about Texas allowing banks to offer crypto custody services? Let us know in the comments section below. View the full article

The Thai Securities and Exchange Commission (SEC) has enacted new rules for cryptocurrency exchanges operating in the country. Certain types of cryptocurrencies, including meme coins, fan coins, and non-fungible tokens (NFTs), are prohibited to trade on crypto exchanges. Thailand Sets New Rules for Crypto Exchanges, Banning Certain Types of Cryptocurrencies The Thai Securities and Exchange Commission (SEC) announced Friday that its board of directors has approved new rules governing cryptocurrency exchanges. Secretary-General Ruenvadee Suwanmongkol stated that the board meeting held on June 9 had passed a resolution approving the SEC Notification No. Kor Thor. 18/2564, which sets forth the rules. Digital asset exchanges are prohibited from “providing services related to utility tokens or cryptocurrencies that have any of the following characteristics,” the SEC notice details: (1) Meme token: having no clear objective or substance or underlying, and whose price running on social media trends; (2) Fan token: tokenized by the fame of influencers; (3) Non-fungible token (NFT). The prohibition also includes “Digital tokens which are utilized in a blockchain transaction and issued by digital asset exchanges or related persons.” Although, the SEC did not mention the name of any specific coins, meme cryptocurrencies, like dogecoin (DOGE) and shiba inu coin (SHIB), are likely affected. Crypto exchanges must also set a requirement “to be imposed in the event that digital tokens issued by their own exchange or related persons are listed on the exchange.” Token issuers failing to comply with their white papers and relevant rules risk having their tokens delisted from the exchange, the regulator warned. According to the SEC notice, “This new regulatory guideline aims to enhance protection of digital asset traders’ interest.” It adds: The exchanges are required to comply and revise their listing rules in accordance with the Notification within 30 days from the effective date thereof. The Thai SEC also noted that “After publication in the Government Gazette, the Notification has become effective from 11 June 2021 onwards without retrospective effect.” What do you think about Thailand banning these cryptocurrencies from trading on crypto exchanges? Let us know in the comments section below. View the full article

India’s Directorate of Enforcement (ED) has reportedly sent a notice to Wazirx, one of the largest cryptocurrency exchanges in India, under the Foreign Exchange Management Act, 1999, (FEMA). The investigation was initiated “on the basis of the ongoing money-laundering investigation into Chinese owned illegal online betting applications,” the ED detailed. ED’s FEMA Investigation of Wazirx India’s Directorate of Enforcement (ED) reportedly said Friday that it has issued a Show Cause Notice (SCN) to Wazirx, CEO Nischal Shetty, and co-founder Sameer Hanuman Mhatre. Wazirx is one of the largest crypto exchanges in the country. The ED is India’s law enforcement and economic intelligence agency. The notice was issued under the “Foreign Exchange Management Act, 1999, (FEMA) for transactions involving crypto-currencies worth Rs 2,790.74 crore [$381.93 million],” the ED wrote, adding: ED initiated FEMA investigation on the basis of the ongoing money laundering investigation into Chinese owned illegal online betting applications. The ED explained that its investigation has revealed that the accused Chinese nationals had laundered proceeds of crime worth approximately Rs 57 crore by converting INR deposits into tether (USDT) and transferring them to Binance. The authority claims that during the period investigated, Wazirx’s users received cryptocurrency worth INR 880 crore from Binance accounts and transferred coins worth INR 1,400 crore to Binance accounts. The ED noted that “None of these transactions are available on the blockchain for any audit/investigation,” emphasizing: The Wazirx clients could transfer ‘valuable’ crypto-currencies to any person irrespective of its location and nationality without any proper documentation whatsoever, making it a safe haven for users looking for money laundering/ other illegitimate activities. The ED alleges that “Wazirx does not collect the requisite documents in clear violation of the basic mandatory anti money laundering (AML) and combating of financing of terrorism (CFT) precaution norms and FEMA guidelines.” Following the media reports of the ED notice, Wazirx CEO Shetty tweeted insisting that his exchange “is in compliance with all applicable laws.” He insisted, “We go beyond our legal obligations by following know your customer (KYC) and anti money laundering (AML) processes and have always provided information to law enforcement authorities whenever required,” elaborating: We are able to trace all users on our platform with official identity information. Should we receive a formal communication or notice from the ED, we’ll fully cooperate in the investigation. Wazirx said early Friday morning that it had not received a notice from the ED but emphasized to its users, “Your funds are absolutely safe on Wazirx.” What do you think about this ED investigation of Wazirx? Let us know in the comments section below. View the full article

Kraken, the US-based exchange, is weighing in on whether to use an IPO or a direct listing to go public. Kraken’s CEO Jesse Powell stated that after Coinbase’s performance, they were considering other options for going public next year. The company will be the second crypto exchange to go public in the US if things happen as projected. Kraken Considers IPO vs Direct Listing for Going Public Kraken, one of the leading US-based crypto exchanges, is having doubts about how to go public. Its CEO, Jesse Powell, had indicated earlier this year they would use the direct listing approach to launch next year. This stance mimics the direction Coinbase took. But now he is not so sure about that, due to the lackluster performance Coinbase has had up until now. Powell declared in an interview with Fortune: An IPO is looking a little more attractive in light of the direct listing’s performance. I would say we’re looking at it more seriously now having the benefit of seeing how the direct public offering played out for Coinbase. This statement might sound strange to some, as the direct listing process allows for a more involved price discovery period. This would be more in line with how cryptocurrency assets acquire their prices, too. An initial public offering would involve getting input from underwriters that will ultimately help to fix the initial price of the stock. However, Powell’s opinion now would mean the company is open to the financial advice of these underwriters. Powell stressed these two environments (Wall Street and the cryptocurrency market) were too different. He was very cautious and did not give a definitive answer as to how the company would ultimately go public. He implied that next year Kraken will have more experience and resources: More analyst coverage out, and there’s just more of a track record of growth for the industry that people feel like they can rely on. Shaken, Not Stirred Cryptocurrency companies have now allied with traditional markets and even sided with banks, that now offer some complementary products in the space. But this outspoken fellowship didn’t stop Powell from criticizing the legacy system and all that it implies. Powell stressed: [Wall Street has] a lot to lose from the success of this space. I think you might be seeing people facing this cognitive dissonance of becoming increasingly aware of the impending doom of the legacy financial system. In spite of this, the trend states that more crypto exchanges will test public markets in coming years. Kraken would be the second exchange to go public in U.S. markets after Coinbase. But other cryptocurrency-related companies have already filed IPOs. Canaan, an ASIC mining company, filed a $400 million IPO on Nasdaq in 2019. What do you think about Kraken’s doubts regarding a direct listing? Tell us in the comments section below. View the full article

There’s a lot of buzz in China around the Bee mainnet soft launch following the recent hype surrounding Filecoin and Chia. Reports detail that Swarm is set to kickstart the mainnet on June 13, and droves of miners from China are getting prepared to obtain rewards from the distributed storage platform and content distribution service. Swarm Preps to Launch Mainnet and Native Token BZZ This Sunday, the anticipated Bee mainnet launch is supposed to happen according to a blog post published by the Swarm Foundation. The Swarm project details can be found on ethswarm.org which details that Swarm is a distributed storage platform and content distribution service that leverages an ethereum web3 stack. Here is a detailed video showing our friends in #China how to install a Bee node. Install your Bee node, become a part of the network and take part in the 1 million BZZ token airdrop at the same time. https://t.co/HjzU3uX5rL #ethswarm #Ethereum — Ethereum Swarm (@ethswarm) February 21, 2021 The project also has a native token called BZZ which will be a utility coin aimed at rewarding decentralized storage and transactions. There’s an abundant quantity of info on Swarm and BZZ on the web, but the team has also published a compendium on the subject called the “Book of Swarm.” We are getting closer to mainnet launch; BZZ token has not been deployed or distributed yet. Private buyers are not allowed to pledge the token before mainnet launch. 1/5 — Ethereum Swarm (@ethswarm) May 18, 2021 In February, Swarm raised $6 million in a private token sale and following the mainnet soft launch, a public BZZ token sale will take place on June 14. Just recently, reports stemming from China indicate that Swarm is becoming very popular in the region and Filecoin and Chia miners are preparing to join Swarm’s network. Chinese Journalist Says Swarm Popularity in China ‘Based on Belief’ Regional reporter and 8btc contributor Priyeshu Garg details that there “has been a huge increase in the number of Swarm groups popping up on Wechat.” Reports on Chinese social media verify Garg’s claims and the reporter notes that Swarm’s “popularity is based only on belief.” So far, Swarm started as a proof-of-concept created by its lead developer Viktor Tron and moved on to a testnet and a few releases. “So-called Swarm ‘believers’ [are] actively preaching on other social platforms as well. Some Filecoin groups have also reportedly been converted into Swarm groups.” Garg’s report insists. The Ethereum Swarm project is buzzing in China according to regional reports from Weixin and 8btc. Digital currency networks like Chia and Filecoin have been very popular in China specifically because the two network’s offer different mining solutions. Bittorrent creator Bram Cohen’s crypto project Chia sparked hard drive and SSD shortages in China earlier this year. During the BZZ private placement token sale, BZZ tokens sold for $0.25 per unit. The public offering indicates that BZZ will sell for $1.92 per unit increasing a whopping 668% in value compared to the private placement. According to the website, U.S. residents cannot participate in the BZZ public sale. U.S. visitors of the website coinlist.co where the BZZ sale is taking place, gets a warning that says: “Sorry, this content is not available in your location.” The codebase Bee v0.6 release is required for all existing Bee node operators and for users who want to participate in the airdrop. Anyone running a prior version (v0.5.x.) must upgrade or they won’t be able to connect to the network. The 0.6 version release will contain features such as light nodes, postage stamps, free bandwidth allowance, and reupload content. What do you think about the buzz around the Bee mainnet soft launch in China? Let us know what you think about this subject in the comments section below. View the full article

On Friday, June 11, 2021, data shows that Taproot could get locked-in this coming weekend, as the signal ratio is 98.3% and a touch more than 100 additional signaling blocks are needed to lock in the upcoming soft fork. Bitcoin Upgrade Taproot Inches Toward Lock-in, Success Means Activation in November Participants involved with the Bitcoin (BTC) network are preparing to see a softfork in November if the signaling status of “Speedy trial support for versionbits #21377” gets locked in this weekend. According to the Github “Taproot-Activation” documentation, the Bitcoin Taproot upgrade involves an “upgrade that can be deployed as a forward-compatible soft fork.” The upgrade also combines the “Schnorr signature scheme with MAST (Merklized Alternative Script Tree) and a new scripting language called Tapscript, Taproot will expand Bitcoin’s smart contract flexibility, while offering more privacy by letting users mask complex smart contracts as a regular bitcoin transaction.” Bitcoiners believe the Taproot upgrade and adding the Schnorr signature scheme with MAST will benefit BTC’s privacy and scaling. At the time of writing, the website taproot.watch indicates that the current signal ratio is 98.39% and “101 additional signaling blocks required for the softfork to lock in,” the web portal says. The popular bitcoin evangelist Andreas Antonopoulos tweeted about the lock-in period coming up and said: “Taproot will be locked-in for a November activation in the next 36 hours. A big success for Bitcoin, Taproot introduces a second signature algo (Schnorr) and significant privacy features. Also a big success for the “Speedy Trial” activation method with If Taproot is successful it will be the largest upgrade Bitcoin (BTC) has seen in four years since the introduction of Segregated Witness (Segwit) in 2017. On Friday, software developer Jimmy Song tweeted about Taproot getting closer to lock-in. “Taproot seems to be inching its way to lock-in. Blocks have been a bit on the slow side (projected difficulty adjustment is -4.5%),” Song tweeted. “By this time tomorrow, we should be all set for Taproot.” The taproot.watch programmer and noncustodial Lightning Network Blixt wallet developer Hampus Sjöberg also tweeted about Taproot locking in soon. “Taproot is a 100 years softfork,” Sjöberg wrote. “Merging every contract and use-case under a single transaction type ‘Pay to Taproot’ will in the long-run yield a more fungible and robust blockchain. This is how you do it. This is how you design a blockchain,” the developer Hampus Sjöberg added. What do you think about Taproot locking in for November activation this weekend? Let us know what you think about this subject in the comments section below. View the full article

Nigeria is likely to have its own central bank digital currency (CBDC) by the end of the year, an official with the Central Bank of Nigeria (CBN) has said. In his remarks following the bankers’ committee meeting, Rakiya Mohammed, who is the director of information technology at CBN, also revealed that this “digital currency would be accessible to all Nigerians.” Stakeholder Involvement However, according to a report which quotes the IT director, the CBN’s digital currency will be unlike privately issued cryptocurrencies such as bitcoin, which a Nigerian senator has previously blamed for making the naira currency “almost useless.” Emphasizing the importance of this digital currency initiative, Mohammed said: We have spent over two years studying this concept of the central bank digital currency and we have identified the risks. And it is one of the reasons why I said we are setting up a central governance structure that would involve all industry stakeholders to access all the risks as we continue on this journey. The director adds that “very soon” the CBN will be making an announcement on the date for the CBDC launch. The CBN’s Digital Currency Drive Meanwhile, with these latest comments, Mohammed becomes the second CBN official to suggest that a digital currency roll-out is in the works. In May 2021, CBN governor Godwin Emefiele said digital currency would “come to life even in Nigeria.” Incidentally, both Mohammed and Emefiele’s digital currency comments have come a few months after the CBN ordered banks to stop extending their services to cryptocurrency entities. Nigerian officials blamed cryptocurrency exchanges and start-ups for fueling foreign currency shortages and for causing the naira’s depreciation on the black market. In the meantime, with only six months left before the year ends, it remains to be seen if the digital currency promises are going to come to fruition. What do you think of this latest digital currency comment by a CBN official? You can share your views in the comments section below. View the full article

The Bank of Namibia (BON) has warned individuals investing in cryptocurrencies that it will not entertain their complaints should they get scammed. The institution argues that since its mandate does not currently cover digital currencies, it lacks the “legal power” to follow up on such complaints. Growing Namibian Interest in Crypto This latest BON warning about risks associated with cryptocurrency trading comes as Namibia is seeing increased reports of crypto investors losing money to scammers. As noted in one report, the scammers are using the promise of high returns as well as training opportunities to lure their victims. In the meantime, in his response to an inquiry from a local media outlet, the central bank’s spokesperson, Kazembire Zemburuka, asserts that as Namibia’s sole issuer of legal tender, the BON “does not recognise, support and recommend the possession, utilisation and trading of cryptocurrencies by members of the public.” While Namibia, like many other African states, has taken a stance against cryptocurrencies, its citizens ( as Zemburuka concedes) are still keen on investing in cryptocurrencies. This interest, in turn, has prompted the BON to issue a risk warning to crypto-traders operating within its jurisdiction. Zemburuka said: Thus, members of the public who do so will have no recourse to the bank in the event of financial loss or misfortune. BON’s Digital Currency Study In the meantime, the BON spokesperson reveals that despite his organization’s skeptical stance on digital currencies, the Bank of Namibia is currently “in the process of conducting further research on cryptocurrencies.” According to the media report, once this additional research has been finalized, the BON “will update its position if deemed necessary.” Nevertheless, the report still quotes the BON repeating a position on cryptocurrencies that was initially adopted in 2018. The report also adds that any cryptocurrency exchanges established and operational in Namibia are “illegal,” a position that is supported by the country’s Currency and Exchanges Act of 1933. According to this law, there is presently no provision for the establishment of cryptocurrency exchanges or bureaus in Namibia. What are your thoughts on the BON’s latest comments about cryptocurrency trading? You can tell us what you think in the comments section below. View the full article

A Cryptopunk NFT was recently sold for $11.8 million during an auction organized by Sotheby’s. The sale, which also featured works of other artists, was organized virtually. Sotheby’s anticipates strong demand for this kind of digital good in the future, even as NFT fever has somewhat subsided in recent weeks. Cryptopunk NFT Sold for Almost $12 Million Sotheby’s, a leading art and luxury auction house, announced yesterday the sale of a Cryptopunk NFT for almost $12 million. The auction, titled “Natively Digital,” presented a group of curated works in the form of NFTs. While the feature of the auction was the Cryptopunk NFT, it also featured 27 other digital artworks. The Cryptopunk NFTs are the very first series of NFTs minted on the Ethereum network by Larva Labs back in 2017. While they were created and distributed for free at that time, they are now highly valued for their origin. There are 10,000 Cryptopunks in total, but the one auctioned was especially strange. Dubbed by some as the “Covid Alien” Cryptopunk, the NFT avatar depicts a pale green-skinned character donning an orange beanie and a mask. This made it especially desired compared to other Cryptopunks that have more conventional traits. Shalom Meckenzie, a shareholder of fantasy sports betting site Draftkings, won the auction for the asset. According to Sotheby’s, this sale marks an auction record for a single Cryptopunk. Other tokens in the sale also reached high prices at the auction. Kevin McCoy’s Quantum sold for almost $1.5 million, and Robert Alice’s iNFT sold for almost $500K. NFT Bubble Popped While the NFT craze surged just some months ago, it has subsided recently. While the Sotheby’s auction shows there is still a real interest in digital artwork, it seems this interest has migrated to real artists and established collectibles. According to Protos, the sales of NFT’s are down 90% since their biggest numbers posted last May. This means the occasional NFT cash grab project is dying and could mean that the ecosystem around NFT’s is maturing. However important this NFT sale might seem, it pales in comparison to the amount of money Beeple got for an NFT last March. The artist managed to get $69 million for a work titled “Everydays: The First 5000 Days.” The NFT shows his first 5000 artworks from his “Everydays“ project, where he vowed to produce some kind of artwork every day. What do you think of Sotheby’s latest Cryptopunk auction? Tell us in the comment section below. View the full article

PRESS RELEASE. FootballCoin has launched a new version of its fantasy football game for EURO 2020, with a host of new features, NFT cards, and prizes. 11th June 2021, Dubai, UAE — Pioneering Football Fantasy Blockchain platform FootballCoin has launched the new version of its game for EURO 2020. The announcement comes with increased prizes for all daily contests and a 100.000 XFC prize for the top managers in the game. EURO 2020 Fantasy Football For anyone who is either getting ready to watch the Euro 2020 matches, enjoys fantasy football or is passionate about cryptocurrency and the exciting world of NFTs; there could be no better entertainment than FootballCoin this summer. Euro 2020 Fantasy is a free-to-play game with NFT Player cards, and includes every match from the tournament in the FootballCoin daily contests. Players can register and play for free for the chance to win prizes in the platform’s native XFC coin, or convert those prizes into fiat currency. NFT Player Cards & XFC Coin NFTs player packs containing NFT player (and stadium) cards can be purchased in the game for as little as $12.00 USD. NFT Cards can be bought, sold and even loaned (just like real players) on the vibrant FootballCoin marketplace. All fantasy cards are visible and registered on the blockchain, giving FootballCoin NFTs a real utility to earn more XFC coins. XFC, is the game’s native cryptocurrency but is also tradable against fiat on crypto trading platforms, with most of the XFC trading volume taking place on centralized exchange Whitebit. XFC can also be purchased safely on the FootballCoin platform with a credit card. How To Play FootballCoin Interested parties can enter the fantasy football contests by registering for free on the FootballCoin signup page. After signup, users simply select a contest to compete in, and then create a draft of 11 players + 5 subs from a roster of real footballers. XFC winnings are determined on how well the players perform in their real games. This is determined by real data to score player performances. Each Euro 2020 game gives users the opportunity to select a new draft composed of players taking part in the competition. Choose the ultimate fantasy football draft and win. FootballCoin: Changing the NFT game 2021 has seen a rise in sports-related NFT and blockchain projects. NBA Top Shot, and other football NFT sports projects have taken off, and FootballCoin is set to be the next NFT sports platform to explode in the space. While NBA Top Shot focuses on collectibility in typical sports card fashion, FootballCoin allows users to not only build their sports card collection but become ‘managers’ and use their cards to compete each day for rewards and prizes in real football fantasy contests. Other fantasy football games using cryptocurrency to buy NFTs sometimes charge hundreds or thousands of dollars, and also have other limiting aspects to the fantasy game experience. By contrast, FootballCoin has been using NFTs as the central pillar of the concept for over four years, with player card NFTs starting at a price of around $3, and no additional fees for selling, trading or Leasing. Interested parties can sign up for free at FootballCoin and start collecting NFT cards for the EURO 2020 Fantasy game. For more information about FootballCoin, please visit — https://www.footballcoin.io/ FootballCoin Socials Website | Twitter | Facebook | Telegram | Whitepaper Media Contact Details Contact Name: Silvio Contact Email: business@footballcoin.io FootballCoin is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest. This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

Homebuyers in the United States have found difficulties acquiring single-family homes after the year-long business shutdowns and lockdowns that followed Covid-19. It seems there’s a new wave of homebuyers in the U.S. real estate market, with buyers stemming from hedge funds, pension funds, clearinghouses, and financial services companies. The weight of real estate property under the U.S. banking system’s wings today has analysts and economists very concerned about the next financial crisis. Wall Street Bankers Are Buying up All the Single Family Homes in the US, New Breed of Buyers Pay 20 Percent Above Asking While the U.S. government and the Federal Reserve have told American citizens the nation’s economy is hunky-dory, investigators looking at statistics know something is not right. The public is well aware that the U.S. central bank increased its monetary supply more in 2020 than any year prior in the country’s history. Following the infamous ‘Black Thursday’ on March 12, 2020, people might assume U.S. megabanks are carrying mountains of USD. Be that as it may, what’s really going down is the Federal Reserve and the American banking cartel currently sits on top of massive heaps of mortgages, land titles, and an itch for single-family homes. Something is up in the land of U.S. real estate, as data and a number of opinion editorials show that the Federal Reserve and U.S. mega-banks are seemingly manipulating the market. Mainstream media has been reporting on the real estate market going haywire with demand, but experts on social media are digging further. A constitutionalist commentator on Twitter dubbed “Culturalhusbandry” has been discussing the subject alongside journalist Tim Pool from the Youtube channel Timcast IRL. “I just got denied a loan for a small single-family home,” Pool said to his 815K Twitter followers on Thursday. “I kinda think the market is rigged right now. It makes absolutely no sense. My credit is extremely high, my income is also very high. But they said my credit was too low which is absolutely not true. What’s creepy is that all this talk about firms buying up houses on the spot in cash. I’m fortunate enough that I don’t need a loan to buy a house so I can just walk past them. But what about any other working-class person?” Pool asked his followers. The host of Timcast IRL further added: What if Blackrock is quietly bailing out banks. Tons of mortgages unpaid over covid lockdown and they are covering up bad loans. Wall Street Wants to be Your Landlord — the ‘Great Reset’ Agenda The real estate market has people worried that the banking cartel may try to pull another financial disaster as they did back in FDR’s day and during the financial crisis of 2008. Some have been speculating that the real estate bubble in 2020 and into 2021, is the start of the global elite’s “Great Reset” agenda. While many think the Great Reset is merely a conspiracy theory, the U.S. property market indicates the likeliness of a possible future where: “You’ll own nothing, and you’ll be happy.” The constitutionalist commentator Culturalhusbandry believes this is the case. “Blackrock is buying every single-family house they can find, paying 20-50% above asking price and outbidding normal home buyers,” Culturalhusbandry tweeted. “Why are corporations, pension funds, and property investment groups buying entire neighborhoods out from under the middle class? Let’s take a look. Homes are popping up on MLS and going under contract within a few hours. Blackrock, among others, are buying up thousands of new homes and entire neighborhoods,” the Twitter account with 33,000 followers said. Culturalhusbandry doesn’t just speculate on Twitter about the reality of this massive buying as the commentator has shared a myriad of sources showing that mega banks are buying up all the U.S. real estate. The Twitter account shared reports stemming from the Wall Street Journal, Propertyreporter, New York Post, Atlantic, American Economic Liberties Project, and Barron’s which all explain that Wall Street wants to be “your new landlord.” Culturalhusbandry further said: The Great Reset is real. It is happening. This will be the greatest transfer of wealth, and greatest consolidation of power in the history of mankind. Estimates show the U.S. Federal Reserve’s 2020 M1 increase eclipsed two centuries of USD creation. It is also estimated that 24 to 30% of all USD was created in 2020 and Q1 2021. Moreover, the central bank’s M1 chart posted on the Fed’s website was discontinued. In recent times, inflation has gripped the American economy and the U.S. dollar has been very weak. Investigative reports and data now show that the M1 expansion found its way into the U.S. real estate market and the banking cartel has captured a lot of property during the last year. Despite a few reverse repos, mortgage-backed securities (MBS) are being held tight by the Federal Reserve. In fact, as of June 2, 2021, the U.S. central bank owns 21% of all the mortgage bonds in America. Stats show the Fed purchased more than $100 billion per month in MBS from lenders and mega banks. “The Fed has been aggressively buying MBS (mortgage-backed securities). Another clear example of how artificially pumping liquidity in an assets creates bubbles and issues down the line. This is not healthy,” the macroeconomic and commodities strategist Gianluca said at the end of May. The Federal Reserve’s own statistical data shows the American central bank owns around $2.273 trillion in MBS. Well before Covid-19 made headlines in the U.S., central banks worldwide invoked massive monetary easing policy changes. Alongside this, well before Covid-19, the Federal Reserve and Wall Street banks were buying up retail and commercial properties in the form of mortgage-backed securities. Financial columnist Joy Wiltermuth from Marketwatch, reported on the Fed’s MBS purchases back in November 2019 when the bank was buying around $30 billion a month in MBS. Wiltermuth stated that “the Fed’s goal is to eventually shed its MBS holdings,” but instead of shedding MBS, the central bank tripled its real estate buying. What if Banks are becoming insolvent due to a year of mortgages not getting paid,” Tim Pool asked his Twitter followers the next day. “Someone will have to bail them out,” the journalist added. What do you think about working-class homebuyers competing against the Fed and Blackrock in the U.S. housing market? Let us know what you think about this subject in the comments section below. View the full article

An official at the Bank for International Settlements (BIS) and former member of the executive board of the European Central Bank (ECB), Benoit Coeure, insists that bitcoin has not passed the test of being a means of payment. He calls El Salvador’s move to make the cryptocurrency legal tender “an interesting experiment.” BIS Official Doubts Bitcoin Can Function as Means of Payment in El Salvador Benoit Coeure, head of the Innovation Hub at the Bank for International Settlements (BIS), commented on El Salvador’s move to make bitcoin legal tender Friday. He said at the launch of a regulatory research hub at the Bank of England (BoE): El Salvador, that is an interesting experiment indeed. A member of the BIS executive committee, Benoit Coeure was appointed head of the bank’s innovation hub in 2020. He was previously a member of the executive board of the European Central Bank (ECB). From 2013 to 2019, he chaired the BIS Committee on Payments and Market Infrastructures. El Salvador became the first country in the world to adopt bitcoin as its national currency, alongside the U.S. dollar, after its congress passed a bill to make the cryptocurrency legal tender Wednesday. The country is now exploring mining using energy from volcanoes. Coeure emphasized: We have been clear at the BIS that we don’t see bitcoin as having passed the test of being a means of payments. Bitcoin is a speculative asset and should be regulated as such. The BIS official is not the only one that has voiced concerns regarding bitcoin being legal tender in El Salvador. The International Monetary Fund (IMF) said Thursday that “Adoption of bitcoin as legal tender raises a number of macroeconomic, financial and legal issues.” Meanwhile, many countries, including the U.S., are increasing their efforts to regulate cryptocurrencies. This week, financial regulators for major economies proposed additional capital rules for banks holding crypto assets. What do you think about Benoit Coeure’s comments on bitcoin in El Salvador? Let us know in the comments section below. View the full article

This week the United States senator from Texas, Ted Cruz, appeared on the Fox News television broadcast Hannity and discussed the leading crypto asset bitcoin. Cruz told Hannity he believes people are investing in bitcoin because they believe America is on the verge of an inflation crisis. Ted Cruz: ‘We’re Seeing Inflation — I Think People Are Going to Bitcoin as a Hedge Against That’ Following negative statements about bitcoin from U.S. senator Elizabeth Warren from Massachusetts, the Republican senator from Texas, Ted Cruz, gave his opinion about bitcoin this week. Cruz appeared on the Fox News television show Hannity with the conservative host Sean Hannity. The Texas senator had a lot to say about Joe Biden and explained that he thinks the Biden administration is undermining the American economy and foreign policy. “If you look at Biden’s foreign policy and you break the world into two groups, our friends and our enemies,” Cruz said during the interview with Hannity, “What does Biden do? He undermines and weakens our friends systematically over and over and over again.” In addition to discussing foreign policy, Russia, and Nord Stream 2, the conversation turned to cryptocurrencies. “Okay, you’ve been hearing all about it,” says Sean Hannity. “Bitcoin, cryptocurrency, what is it? Why is it so big? What is Bitcoin? What is blockchain? What is doggy coin?” Hannity asked. The host of the Fox News broadcast further said that he’s been “studying this and debating this with friends for probably hundreds of hours,” in regard to crypto assets. The political commentator also added that he is “not in any way offering financial advice.” Senator Cruz also talked about bitcoin and noted that he believes the crypto asset is seeing mass adoption because people are frightened about rising inflation and the Biden administration’s proposed spending. “I think part of the reason we’re seeing people go to Bitcoin is because we’re on the verge of an inflation crisis and Joe Biden has proposed seven trillion dollars in new spending,” Cruz stressed during the interview. “We’re seeing inflation, which we’re seeing lumber going up, homes going up, oil going up, gasoline going up, energy going up, commodities going up. And I think people are going to Bitcoin as a hedge against that.” What do you think about senator Ted Cruz and the political commentator Sean Hannity discussing bitcoin on Fox News? Let us know what you think about this subject in the comments section below. View the full article

PRESS RELEASE. Bitcoin.com Exchange is thrilled to announce the listing of CWAP, being available to trade on the 11th June 2021 at 10:00AM UTC. CWAP was created by the DeFire team, as the native currency which sets the ‘right’ economic incentives via its platform. CWAP will start trading with USDT and BTC pairs. What is DeFire? DeFire is an order router across decentralized execution venues, or in layman terms, a DEX aggregator. What does it all mean? DeFire provides optimal order execution across the universe of decentralized exchanges and other order routing services. In other words, DeFire is in the business of offering the best rate for DeFi trading. The nature of value dynamics within the DeFi ecosystem flows from order flow originators (casual traders, institutional traders, wallets with DeFi facilities, etc.) to execution venues (DEX’s and lending platforms) as it is up to the trading agents where they choose to send their order flow. DeFire algorithmically optimizes this selection procedure, bringing market efficiency to the wider DeFi ecosystem within given layer-1 networks. DeFire’s value offering, however, is much wider than that. The team plans on deploying a game-changing DEX in the coming months. The actual parameters behind the routing optimization routines will be defined in a series of blog posts that will come out in the near future and further calibrated as the parameters are set in stone in the smart contracts. This, however, is subject to change as the project will be moving towards decentralizing the governance by introducing the DeFire DAO, where the community of CWAP stakers will be able to introduce proposals for changing system parameters and vote upon them. How does it work? To explain how the project, and the ecosystem works, one must look into three different actors, and what each of them have to do with CWAP, DeFire’s native currency. These refer to the following: Order flow originators: These are entities who originate order flow, and choose to trade through DeFire. These include traders, large and small brokers of all kinds as well as referral agents. Third-party execution venues: These are the entities that DeFire routes the orders sourced from originators to. In simpler terms, these are predominantly DEXs (or, potentially, in the future other routers). Pool originators: Entities that own assets that they use to list said assets on a third-party execution venue in a permissionless setting or otherwise. Listing an asset on a DEX boils down to opening a liquidity pool, hence the name ‘pool originators’. DeFire serves as a middleware between traders and other orderflow originators who seek best, and third-party execution venues who offer liquidity against orders sent their way. Strong Endorsement Danish Chaudhry, CEO of Bitcoin.com Exchange, shared his views on DeFire, both as the CEO of the exchange, and as an advisor to the DeFire team: “I believe both projects align in ways which will lead to further collaboration and opportunities for our communities, the team behind DeFire is built with an array of incredibly talented individuals who are offering top class facilities for the Cardano network and the expanding DeFi sphere.” Chaudhry continues on by saying; “We’re very excited to see how DeFire, via their CWAP will continue to empower their vision for the future of DEX solutions, and gain further outreach with our outstanding community at the exchange.” Eric Benz, Chairman of the DeFire Association also expressed his enthusiasm: “We are delighted to list on Bitcoin.com Exchange, one of the world’s most trusted trading venues for digital assets. However, this represents much more than simply a listing for CWAP. We will now work closely with the Bitcoin.com Exchange team to identify synergies within the Cardano DeFi landscape, and leverage our smart order routing technology to their benefit. We look forward to listing on the Bitcoin.com Exchange and working with their team in the future.” About Bitcoin.com Exchange The mission of Bitcoin.com Exchange is to empower people from all over the world to trade cryptocurrencies with ease and confidence, from first-time traders to advanced trading professionals. With high liquidity, 24/7 multilingual support and dozens of trading pairs, complemented with a high level of security, we offer an attractive platform for trading any cryptocurrency. Within one year since launch, on average, our exchange has been visited by more than 500K active traders per month, and this number continues to grow as you read this sentence. About DeFire DeFire is currently pursuing a full-stack DEX solution for the Cardano ecosystem that few of its rivals in the space are creating; a low latency smart decentralized order router; as well as offering its facilities to the growing Cardano network and associated rapidly expanding DeFi scene. Execution-wise, DeFire connects to the deepest pools of on-chain liquidity, while also building out their own dedicated liquidity pools. Their staking and liquidity mining mechanisms offer value to their CWAP token holders. Learn more at www.DeFire.fi. This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

The central banks of Switzerland and France are joining hands with the Bank for International Settlements to test wholesale central bank digital currencies in cross-border transactions. The experiment will be conducted with the help of a private sector consortium led by Accenture. European Central Banks to Collaborate on CBDC Project The Swiss National Bank (SNB), Banque de France, and the Bank for International Settlements (BIS) Innovation Hub have announced this week they’ll cooperate on trials exploring the use of wholesale central bank digital currencies (CBDCs) for cross-border settlements. The tests will be supported by an Accenture-led private sector consortium that also includes Credit Suisse, Natixis, R3, SIX Digital Exchange, and UBS. #BISInnovationHub @banquedefrance and the Swiss National Bank launch #ProjectJura – a collaborative experiment into wholesale #CBDC @SNB_BNS_en https://t.co/vtbMCSJA6i pic.twitter.com/lV7mKI7R0S — Bank for International Settlements (@BIS_org) June 10, 2021 The project has been named “Jura,” after the mountain range which demarcates a long stretch of the French-Swiss border. The experiment will focus on cross-border settlements powered by two wholesale CBDCs and a French digital financial instrument on a distributed ledger technology (DLT) platform, SNB detailed in a press release published Thursday. Testing will “involve the exchange of the financial instrument against a euro wholesale CBDC through a delivery versus payment (DvP) settlement mechanism and the exchange of a euro wholesale CBDC against a Swiss franc wholesale CBDC through a payment versus payment (PvP) settlement mechanism.” The transactions will be settled between banks based in France and Switzerland, SNB elaborated, emphasizing: It is essential for central banks to stay on top of technological developments. Project Jura to Test Effectiveness of Wholesale CBDCs in Cross-Border Settlement Dozens of central banks around the world have been working on projects to issue CBDCs, including those of China, Russia, the U.S., and the Eurozone. The People’s Bank of China has arguably the most advanced project, with numerous domestic trials already underway and a plan to test the digital yuan (e-CNY) in cross-border transactions with Hong Kong. The Bank of France launched its wholesale CBDC program last year. Its deputy governor Sylvie Goulard recently commented: The Eurosystem is engaging in innovation and adapting its actions to the strong trend towards the digitalization of payments. Banque de France is convinced of the potential benefits of wholesale central bank digital currency. The central banking institutions noted that Jura is of an exploratory nature and should not be interpreted as an intention on their part to issue wholesale CBDCs. At this stage, the project aims to mainly investigate the effectiveness of wholesale central bank digital currencies for cross-border settlement. According to Benoît Cœuré, Head of the BIS Innovation Hub, the experiment will contribute to advancing G20’s priority to enhance cross-border payments by exploring how wholesale CBDCs could increase speed, efficiency, and transparency in such scenarios. “We are excited to join this project, which complements other CBDC experiments that we are working on,” the official added. What do you think about the Jura wholesale CBDC project? Share your thoughts on the subject in the comments section below. View the full article

While the cryptocurrency market is gradually reclaiming the market capitalization it lost in May, the NFT ecosystem is in full bloom. New projects and platforms are flooding the world of NFTs, bringing fans and collectors a wider ensemble of epic collectibles. In this NFT roundup, we take a look at what’s new for the NFT community. Hoard Exchange NFT Marketplace to Help Users Loan and Stake NFTs Hoard Exchange, one of the largest digital goods marketplaces, has launched its NFT marketplace on Ethereum mainnet. The platform allows users to trade, rent, lend, and borrow in-game consumables, digital art, domain names, and various NFTs. The platform, committed to offering its users true ownership of virtual items, seems poised to take a significant stake in the NFT industry. Any user who holds NFTs and stablecoins can generate extra income through the platform through the lending and borrowing options. Enjin & Health Hero Team Up for NFT-Based Wellness App Full-stack blockchain firm, Enjin, has partnered with Health Hero, a digital health platform focused on user engagement, to build an innovative NFT-based wellness app called Go! By Health Hero. In addition to health monitoring and engagement, the app will also allow users to create unique Well-Being NFTs (W-NFTs) based on their health and activity. The Go! App is designed to gather user activity and wellness data via integration with other health tracking devices, such as Fitbit, Apple Health, and Google Fit. All such W-NFTs can be exchanged and traded for Enjin coins ($ENJ) on the Enjin marketplace. Meme.com to Launch Marketplace Pairing Memes and NFTs Meme.com, a renowned social media platform for meme trend exploration, has raised $5 million following the successful closure of the Outlier Ventures acceleration program. With the rise of meme coins like Dogecoin and the popularity of meme NFTs, the platform aims to expand its offerings to bring meme coins and meme NFT trading into the spotlight. Backed by blockchain-focused VC firms including Outlier Ventures, Digital Finance Group, Morningstar, Blockhype, Spark Digital Capital, and private investors Gabby Dizon (CEO, Altitude Games), and Sandeep Nailwal (Co-founder, Polygon), this unique platform will allow users to mint tokens based on the ‘perceived value’ of the trend or the meme. PFL and Fanaplay Introduce The ‘World’s First’ MMA NFTs The Professional Fighters League (PFL) has partnered with Fanaplay to launch the first official digital collectibles for MMA. As per PFL, Fanaplay will produce and sell the official NFT collection, consisting of unique events, debut moments, and championship moments of MMA fighters active under the PFL banner for 2021. PFL aims to bring innovation to the growing popularity of mixed martial arts (MMA) as a sport. By partnering with the industry’s leading digital collectibles provider, the organization enables fans to own their piece of MMA history, minted on the Ethereum blockchain. Chronicle Bags $3.2 Million to Build Easy-to-Use NFT Platform Chronicle, a fan-focused studio and marketplace for NFTs, aims to introduce the concept of ‘NFTs-as-a-service,’ enabling brands to mint collectibles for fans to trade easily. The standout factor of this marketplace is that users don’t need prior knowledge of blockchain and cryptocurrency to use the platform. With plans to support NFTs across industries, including sports, games, music, TV, celebrities, and more, the platform has successfully raised $3.2 million from leading blockchain VCs such as 4SV, AU21 Capital, Blocksync Ventures, DAO Maker, GBV Capital, Legos Capital, Magnus Capital, Moonwhale Ventures, and more. Scuti.ai and Reality Gaming Group to Introduce In-Game Store NFT Marketplaces Scuti, a dedicated gCommerce (gaming commerce) platform, has partnered with Reality Gaming Group to enable game developers to build an evergreen revenue stream. By offering its Scuti gCommerce SDK, game developers and publishers can now tap into the exploding NFT market, non-intrusively monetizing 100% of their audience. Besides offering a seamless player experience, Scuti.ai allows game developers to monetize their content through AI models. Powered by Reality Gaming’s DAT Platform, the marketplace will enable players to purchase in-game assets with complete ownership, without even leaving the game lobby. Will NFTs be the hero of the next bull market? Let us know what you think in the comments section below. View the full article

A court in Russia’s Perm region has decided to block a number of websites describing how to exchange cryptocurrency for fiat cash. Local prosecutors claim the dissemination of this type of information is against the law in Russia as it may facilitate the laundering of illicit funds. Kungur City Court Blocks Crypto-Related Sites The Kungur City Court in the Russian Perm Krai region has upheld a request filed by the Beryozovsky District Prosecutor’s Office to take down several internet sites detailing various methods of cashing out bitcoin. The prosecutors who discovered the crypto platforms insist the publishing of such content violates Russian legislation on combating the legalization of crime proceeds. “It was established that information on methods of cashing out the Bitcoin cryptocurrency was freely available for viewing and using on certain Internet resources,” a press release explained, further noting: Taking into account that the legislation considers the exchange of virtual currencies as a potential involvement in dubious transactions, the prosecutor sent an administrative statement of claim to the court demanding to restrict access to this information. The number of the affected websites as well as their domain names were not disclosed, but Forklog quoted the prosecutor’s office saying that five such requests have been submitted since the beginning of the year. One of the claims, according to the publication, concerns a Youtube video describing ways of exchanging bitcoin for Russian rubles. Russia’s Crackdown on Bitcoin Websites Continues Access to the websites subject to Kungur City Court’s latest decision will be restricted after the ruling enters into force, the Perm Prosecutor’s Office said without providing any more details. The banned sites will join a growing number of crypto-related outlets that have been taken down by Russian authorities in the past few years. Last August, the Russian media watchdog Roskomnadzor blocked a crypto exchange monitoring website, Bestchange.ru, the third time the platform went offline as Bitcoin.com News reported. The popular site helps Russian-speaking users to find the best crypto-fiat exchange rates available. Roskomnadzor’s attempts to blacklist the aggregator started back in 2017. Roskomnadzor In March 2020, the agency added five crypto websites to its register of banned internet sources. The platforms were offering various services, from crypto exchange to mobile top-ups with bitcoin, and one of them was an information portal. The forum section of the crypto news outlet Bits.media was also targeted. Crypto website operators have in the past successfully challenged some of these censorship measures in Russian courts. In March 2018, the Saint Petersburg City Court struck down a ban on 40 websites publishing information and offering services related to cryptocurrencies. In April of that year, the Supreme Court of the Russian Federation overturned a decision to block the Bitcoininfo.ru portal. In May 2019, Roskomnadzor was forced to remove Bestchange.ru from its blacklist, after prosecutors gave up efforts to block the website. What do you think of Russia’s attempts to block crypto-related websites? Share your thoughts on the subject in the comments section below. View the full article

BarterTrade, is a cryptocurrency trading ecosystem that upgraded to more advanced V2 on 6th May, 2021, implementing significant benefits and new features for traders. Understanding crypto traders’ needs is a key ingredient of the relaunch, which includes features such as a 0% trading fee, institutional liquidity, auto KYC and a new customer support. Bartering or Trade with V2 Upgrade The V2 BarterTrade crypto exchange ecosystem brings in a plethora of improvements and features, carefully selected and designed to ensure a seamless user experience. This includes: 0% Fee on BART Trades: BART, the native token of BarterTrade allows users to access a 0% trading fee Social Trading: A fast-growing Industry feature which affords invaluable help to new traders who want to follow and learn from successful, experienced traders. Live Chat Support: No more bots. BarterTrade believes that the human touch is crucial in offering the best service to its users, and uses a improved support system setup Trading Pairs, Speedy KYC and Institutional Liquidity BarterTrade’s upgrade includes a swift KYC process that will have a new user verified and ready to trade in 5 minutes. There are no waiting lists, no hoops to jump through and no complex verifications required. Holding cryptocurrencies that are rising in value is useless if a trader cannot cash out in time. Illiquidity is still a real problem for traders, but fortunately BarterTrade provides an institutional level liquidity service, which enables all users to sell their crypto assets with the same ease they would in traditional markets. The V2 launch comes with a variety of trading pairs, including BART, BTC, ETH, BCH, XRP and LTC against USDT. BART, UNI and LINK are also available for ETH trading. BarterTrade is rapidly expanding its trading pairs and existing users of the old platform can still find their gems available to trade. Overcoming Covid The BarterTrade team have been working on numerous developments over the past few months, including the recently completed funding round. The last details of which are still being finalised, with a public announcement expected in May. The huge planning required for the V2 upgrade, and funding round have been delayed due to various obstacles from the COVID-19 situation in their home country of India. The team is working hard to resolve these issues, (especially exchange withdrawals) and is confident that all will be resolved in the week. BarterTrade have also expressed their strong appreciation to the community for its continued support and patience. A spokesperson from the company has stated: “We thank each and everyone in our community who has stood by us in the past few months. We are glad to welcome you to the new chapter in our journey as we establish ourselves as one of the leading digital assets exchanges in the market.” BarterTrade Breaking Out in 2021 The relaunch of BarterTrade comes with a host of changes at the back end that revamps the whole trading experience for its users. The BarterTrade vision is to provide an intelligent (but easy to use) cryptocurrency ecosystem that empowers its users, with social trading and gamification features accessible for all. BarterTrade is not stopping here. Its future roll-out will include: Algorithmic Trading: Coding free bot setup means any trader will be able to take the full advantage of automated trading. Bots execute trades with lightning precision, securing increased gains. Orders and Markets: BarterTrade will be releasing advanced trading orders and offering new markets and trading avenues to its users. Upcoming Features: P2P lending, BattleGrounds, Easy Pay, Pie Algorithm and connected payment networks are just a few of the upcoming features of BarterTrade. BarterTrade is an Easy, Smart, Social, and Gamified way to trade cryptocurrencies for all traders. Check out BarterTrade’s V2 exchange ecosystem here. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

On May 27, the state of Florida saw one of the largest real estate sales in cryptocurrency, as a Miami Beach ultra-exclusive luxury penthouse was sold for over $22 million. The penthouse located on the ninth floor of the 12-story building offers 5,067 square feet of space and a 2,960-square-foot terrace with oceanfront views. One of the Most Exclusive Luxury Homes in Miami Sells Entirely for Crypto Assets According to Arte by Antonio Citterio, a penthouse in Miami’s Surfside neighborhood has been sold to an anonymous buyer who paid for the property entirely in cryptocurrency. The sale was the largest real estate purchase with crypto assets in Florida’s history. Developers say that the penthouse is one of the most expensive properties in Miami in terms of price per square foot. The Surfside region in Miami made headlines in December 2020, when a penthouse sold for a whopping $33 million. This particular luxury condo sold for cryptocurrencies at $22.5 million was sold for $4,440.50 per square foot. It is one of the largest real estate purchases after the December buy since 2017. “Cryptocurrency is the future of wealth, and we believe this is only the beginning,” said Giovanni Fasciano, codeveloper of the Miami building, explained in an interview. Arte by Antonio Citterio was developed by Fasciano and Alex Sapir. “There is strong pent-up demand for cryptocurrency transactions that are seamless and secure for both parties, and this deal is a prime example of that,” Sapir, the chairman of Sapir Corp said. Sapir added: We were overwhelmed by the amount of calls we received from qualified buyers just after announcing our ability to facilitate cryptocurrency transactions for the condominiums at Arte. Real-world crypto transactions haven’t made their way fully into the mainstream yet, so it’s clear that top holders around the world pay attention when new opportunities to transact open up. Closing Took Less Than Ten Days, Crypto Used in the Transaction Undisclosed The Arte by Antonio Citterio penthouse sold for over $22 million gives the owner the entire ninth floor of the building. This includes 360-degree views of the ocean and a wraparound terrace. There are four bedrooms, a powder room, four bathrooms, a wine bar, and massive walk-in closets. The condo owners get access to an indoor and outdoor swimming pool, a sauna, steam room, rooftop tennis court, a gym, and a yoga studio. Parking spaces in the building are temperature-controlled and the condo also offers a toddler’s playroom and catering staff. The blockchain settled arrangement took less than ten days to settle and the digital asset used has not been made public. What do you think about the Miami Surfside neighborhood penthouse that sold for more than $22 million in crypto assets? Let us know what you think about this subject in the comments section below. View the full article