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Onchain data indicates that bitcoin transactions per day have plummeted to lows not seen since October 2018. Further, bitcoin transaction fees have dropped 93% after touching a high of $62 per transaction in April 2021. Bitcoin Daily Transaction Rate Dips by 35%, Google Trends Data Shows Interest Has Dropped Since May While bitcoin (BTC) prices have dropped to lower bound ranges, after touching an all-time high over $64K per coin, the number of daily transactions has dive-bombed as well. In fact, daily BTC transactions have been plummeting since the first week of 2021, as statistics show a high of 387K transactions on January 6. Data from bitinfocharts.com indicates that the number of bitcoin transactions confirmed on June 3 was around 249K. Between the first week of January up until now, daily transactions have slipped by more than 35%. Statistics from bitinfocharts.com indicate daily transaction rates are as low as they were in October 2018. Fork.lol stats show on June 7, the BTC network processed around 221,624 transactions on Monday. From February 14 to April 28, 2021, the Bitcoin Cash (BCH) network outpaced the BTC chain’s daily transaction rate during that time span. Today, the BCH chain has a lower daily transaction count than BTC, as current daily stats for June 7 show, BCH has processed around 68,973 transactions. BTC transactions per day have not been this low since October 2018, as daily transactions have been consistently higher since then. BTC’s highest daily transaction rate has only tapped 478K confirmed transactions, while BCH broke over two million confirmed transactions per day during the first week of September 2018. In addition to BTC transactions per day dropping to 2018 levels, bitcoin fees have slid as well during the last few weeks. On April 21, 2021, the average BTC transaction fee hit a high of $62.79 per transaction according to ycharts.com. The same ycharts’ data set shows fees are down to $4.38 per transaction today. Worldwide Google Trends data for the search query “bitcoin.” The lack of interest in bitcoin and cryptocurrencies, in general, may have contributed to the daily transaction levels dipping to 2018 levels. The search query “bitcoin” touched an all-time high on Google Trends in May with a score of 100, but the worldwide search trend has dipped to 52 on June 5. Daily transactions for a great number of the top digital assets including BTC, ETH, DOGE, XRP, LTC, and BCH have all dipped significantly. While XRP transactions did dominate Ethereum’s daily confirmed rate during the first few months of 2021, the ETH chain is now ahead of XRP in terms of daily transactions confirmed. What do you think about BTC transactions dropping to 2018 levels? Let us know what you think about this subject in the comments section below. View the full article

Former U.S. President Donald Trump says he does not like bitcoin because it is a currency that competes with the dollar, which he wants to be the currency of the world. He calls bitcoin a scam and wants cryptocurrency to be very heavily regulated. Trump Thinks Bitcoin Is a Scam, Wants Heavy Regulation on Crypto Donald Trump talked about bitcoin in an interview with Fox Business Monday. Responding to a comment that he does not like bitcoin and he would not invest in it, Trump said the cryptocurrency “seems like a scam.” He noted that when he was president, the price of bitcoin was only $6,000, much lower than it is now, adding: I don’t like it because it’s another currency competing against the dollar, essentially it’s a currency competing against a dollar. I want the dollar to be the currency of the world. That’s what I have always said. The former U.S. president also talked about bitcoin in response to questions regarding recent cyberattacks on major companies. Emphasizing several times during the interview that “the currency should be the dollar,” he explained that “when you have things like that out there, you know what happens is, you really lose something.” He added: It takes the edge off of the dollar and the importance of the dollar. Trump reiterated, “My opinion is that the currency of this world should be the dollar, and I don’t think we should have all of the bitcoins of the world out there,” elaborating: “I think they should regulate them very, very high.” Trump has never been a fan of bitcoin. In July 2019, when he was still the president of the United States, he commented about bitcoin and cryptocurrencies in general in a series of tweets: I am not a fan of bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated crypto assets can facilitate unlawful behavior, including drug trade and other illegal activity. The former president also targeted Libra, the crypto project proposed by social media giant Facebook. Libra is now called Diem. Trump’s tweet says: “Facebook Libra’s ‘virtual currency’ will have little standing or dependability. If Facebook and other companies want to become a bank, they must seek a new banking charter and become subject to all banking regulations, just like other banks, both national and international.” Trump concluded his series of tweets with: “We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States dollar.” What do you think about Trump’s comments on bitcoin and the U.S. dollar? Let us know in the comments section below. View the full article

A professor of finance and business economics at the University of Southern California says that asset managers focusing on growth strategy could violate their fiduciary duty if they do not consider bitcoin in their portfolios. Asset Managers With Growth Focus Need to Consider Bitcoin Financial researcher Nik Bhatia said last week that asset managers seeking growth returns on behalf of their clients need to consider bitcoin, the Insider reported. Bhatia is also an adjunct professor of finance and business economics at the University of Southern California Marshall School of Business. In addition, he is the author of the book “Layered Money: From Gold and Dollars to Bitcoin and Central Bank Digital Currencies.” He explained: Growth managers that are responsible for securing growth returns for their clients that haven’t done research into bitcoin at this point are bordering on some sort of fiduciary violation. “If you’re ignoring bitcoin now as a growth manager, you are ignoring that an alternative monetary reality has come into existence on this planet,” the professor said, clarifying that he is not referring to fixed-income managers whose mandates are capital preservation and income. Bhatia believes that asset managers should at least do their own analysis of whether bitcoin or other cryptocurrencies are right for their clients. After studying the pros and cons of cryptocurrencies, they can decide whether to invest. However, he said that is not what he has been seeing, emphasizing that asset managers seem to cite old narratives, advocating avoidance of bitcoin and cryptocurrencies. He further noted that those who make excuses that bitcoin is a bubble have not done their research. Turning attention to the U.S. dollar, Bhatia said the USD is losing its status as the global reserve currency, noting that with inflation kicking in, assets like land are being considered almost superior reserve assets to the dollar. The researcher further said bitcoin is here to stay, not only as a store of value, but it may become “the anchor for the global monetary system in the future, replacing the US dollar,” the publication conveyed. He also believes that “bitcoin’s protocol for monetary settlement will become the system on which other systems are built.” “I worked in the bond industry for several years, and I worked in both operations and trading capacities. I was involved in emailing and faxing dollars through the wire process, and Fed wire, and repo settlement, and US Treasury securities settlements through DTC,” Bhatia shared with the publication, elaborating: I saw it every day of my life for several years up, close, and personal. I know the archaic nature of final settlement and the dollar world, it’s just old technology. And bitcoin is the technology that will underpin what we think of as final settlement in the future. Do you agree with Bhatia? Let us know in the comments section below. View the full article

U.S. law enforcement officials from the Justice Department on Monday announced the seizure of $2.3 million dollars worth of crypto assets that were paid to the Colonial Pipeline hackers. Deputy Attorney General Lisa Monaco explained during a news conference that federal agents “recaptured the majority of the ransom Colonial paid to the Darkside network.” FBI Recovers Private Key for Over 63 Bitcoin, Investigator Says Real-Time Blockchain Surveillance Used On May 14, Bitcoin.com News reported on the Darkside network of hackers extorting Colonial Pipeline for close to $5 million. Last month, Colonial’s CEO said the firm authorized the payment of around $4.4 million in digital assets. The Department of Justice noted on Monday that the full amount of the seizure was 63.7 bitcoins valued at approximately $2.3 million at the time of capture. An affidavit filed on June 7, 2021, by an agent working for the Federal Bureau of Investigation (FBI). “Earlier today, the Department of Justice has found and recaptured the majority of the ransom Colonial paid to the Darkside network in the wake of last month’s ransomware attack,” Deputy Attorney General Lisa Monaco remarked during today’s news conference. Ransomware attacks are always unacceptable— but when they target critical infrastructure, we will spare no effort in our response,” she added. Monaco continued by explaining the federal agents have flipped the script on the notorious hacker gang. “Today, we turned the tables on Darkside,” Monaco insisted. “By going after the entire ecosystem that fuels ransomware and digital extortion attacks, including criminal proceeds in the form of digital currency, we will continue to use all of our tools, and all of our resources to increase the cost and the consequences of ransomware attacks and other cyber-enabled attacks.” “The private key for the Subject Address is in the possession of the FBI in the Northern District of California,” explains an FBI agent’s affidavit filed on June 7, 2021. William Callahan, the director of Government and Strategic Affairs at Blockchain Intelligence Group (CSE: BIGG) wrote to Bitcoin.com News about the FBI’s seizure. “From the moment the FBI received the intelligence that an illicit actor was threatening to shut down the Colonial Pipeline, a direct threat to our national security, and affecting millions of people along the east coast, teams of federal agents, intelligence analysts, and prosecutors from the Departments of Justice, Homeland Security and other branches of government focused on the basics techniques criminal investigators do in all financial-related crimes, ‘follow the money.’ While these are basic techniques, cryptocurrency investigations training and analysis requires advanced tools and learning” Callahan told our newsdesk. A visualization of the Darkside wallet provided to Bitcoin.com News by Blockchain Intelligence Group. “With the case of Colonial, investigators ‘followed the coin,’ by exploiting data contained on the Bitcoin blockchain, a public ledger,” the Blockchain Intelligence Group investigator Callahan added. “Investigators and analysts conduct surveillance by utilizing software to track and trace the flow of the bitcoin to conduct real-time surveillance of [transactions]. This type of software, together with traditional investigative techniques and working with our foreign law enforcement counterparts is necessary to disrupt and dismantle these ransomware gangs.” What do you think about the Darkside hackers losing $2.3 million to federal law enforcement? Let us know what you think about this subject in the comments section below. View the full article

A report published by the cryptocurrency exchange Kraken shows that two-fifths of Australian millennials prefer to invest in cryptocurrency assets over real estate. The survey shows that a number of Australians are losing faith in traditional assets like gold, stocks, and real estate. Kraken’s Australia Managing Director: ‘Young Aussies Look for Other Options to Grow Wealth’ A survey conducted by the San Francisco crypto exchange Kraken indicates that 40% of millennials believe investing in digital assets like bitcoin (BTC) will end up turning into long-term gains. In fact, Kraken’s survey shows that nearly 40% of millennial respondents think digital currencies are an alternative investment to real estate. The study also showed that 22% of millennial Australians (born between the early ’80s and mid-’90s) think that investing in digital assets is a better way to save funds than storing wealth with bank accounts. Close to 50% of the baby boomer (born between the mid-’40s and mid-’60s) crowd surveyed said they did not invest in crypto and they cited the crypto economy’s volatility. 31% of Gen X survey participants (born between the mid-’60s and early ’80s) believe digital asset investments supersede purchasing real estate in importance. 24% of the Gen Z respondents (born between the late ’90s and 2010) also feel that crypto assets are a better investment than commercial or retail property investments. Jonathon Miller, Kraken’s Australia-based managing director, details that Australian crypto adoption is growing at a rapid pace. Much of the crypto demand in the country stems from millennials and younger generations. “Australians still maintain some conservative attitudes toward investment,” Miller detailed in the report. “Property has been a cultural norm and high on the wish list for most investors, but as affordability continues to be an issue, we’re seeing more young people look for other options to grow wealth.” Miller has a positive outlook on the financial transitions in the Asia-Pacific (APAC) region and thinks that younger Aussies are the driving force when it comes to crypto adoption. “We’re confident that as more investors look to diversify their portfolios and seek investment opportunities outside of the traditional offerings we’ll see cryptocurrency come into its own in APAC,” Miller concluded. What do you think about Aussie millennials preferring to invest in crypto assets over real estate? Let us know what you think about this subject in the comments section below. View the full article

Nayib Bukele, president of El Salvador, has weighed in the future of his country now that there is a formal proposal for making Bitcoin a legal tender, announcing complementary measures. Bukele mentioned yesterday on Twitter there would be no capital gains on Bitcoin earnings, and also highlighted the possibility of offering permanent residence to crypto entrepreneurs wanting to move to the LATAM country. El Salvador to Collect No Capital Gains on Bitcoin Earnings, Offers Permanent Residence to Crypto Entrepreneurs Nayib Bukele, President of the Republic of El Salvador, made some interesting remarks yesterday on Twitter, where he answered some concerns and questions of people involved in cryptocurrency businesses. The young politician has put the country in the media spotlight after appearing at the 2021 Bitcoin Conference in Miami, announcing he would be introducing legislation to make Bitcoin legal tender in the country. Bukele stated that because Bitcoin will be legal tender, there will be no capital tax gains for Bitcoin earnings, something that would entice cryptocurrency entrepreneurs and traders to bring their business to the country. In response, Tron founder Justin Sun declared his organization would be the first crypto group to establish an office in El Salvador. But Bukele went even further, hinting that El Salvador could offer immediate residence to crypto entrepreneurs interested in coming to and investing in the country. This would make it easier for anyone wanting to build or introduce a startup in the country to set up offices faster, and with less paperwork. While all of this might seem like just talk to some, Bukele has the power to make it real. His political party, Grand Alliance for National Unity, recently won the parliamentary elections with a staggering advantage. He controls more than 70% of the Legislative Assembly, so any law project supported by him is likely to be fast-tracked. Bukele Plans to Offer a Safe Haven for Crypto Entrepreneurs Contrary to the stance more and more countries are adopting about cryptocurrencies, Bukele is profiling El Salvador as a cryptocurrency-friendly country with this move. The young politician definitely has the power and disposition to do so, according to many. With countries like the U.S. and China constantly targeting cryptocurrency startups and businesses with stringent or unclear regulatory frameworks, the proposal of El Salvador is poised to attract money from startups and projects now interested in establishing a presence in a crypto-friendly state. This move breaks with the trend of states and nations planning their own central bank digital currencies, whose function is to be a digital complement for their existant fiat currencies. While the move is still only a proposal, it might mark a trend reversal making other countries consider adopting an already established cryptocurrency to power their economies. It seems to be already working: Carlos Rejala, a deputy of the Paraguayan National Congress, recently stated he would be presenting a crypto-related “important project” to advance Paraguay to the forefront of world innovation. What do you think about President Bukele’s proposals? Tell us in the comments section below. View the full article

On Monday, the application-specific integrated circuit (ASIC) manufacturer Canaan Inc. announced the company has established an overseas after-sales center in Kazakhstan. According to Canaan, the service center will provide local customers with after-sales services like machine testing, warranty services, maintenance, and technical consultation. Chinese Miners Are Focused on Relocation, Canaan Opens Mining Rig Service Center in Kazakhstan Ever since China started cracking down on bitcoin miners in the region, Kazakhstan has been a target for relocation. A number of Chinese operations have focused on the Central Asian country and former Soviet republic for relocation after the clampdown. According to a recent report from Wired, quoting an anonymous source “familiar with China’s bitcoin mining industry,” Chinese miners who have “panicked” are moving to Kazakhstan “overnight.” Following a number of firms announcing migration to Kazakhstan after the Chinese government’s statements, the publicly listed firm Canaan (Nasdaq: CAN) explained it has established an overseas after-sales service center for miners in the country that borders China and Russia. “Through the service center, local customers will be able to access technical support, guidance, and training services for basic mining machine operations such as firmware upgrades, Fleet Management System (“FMS”) applications for mine management,” Canaan detailed. “As well as mining pool access and configuration. To gauge computing power and machine stability, local customers will be able to test the performance of their mining machines at the service center. Customers requiring technical support for firmware upgrades, including optimisation of temperature, fan control, and start-up speeds, as well as the reduction of frequency, voltage, and bug fixes, will now be able to do so at the center,” the firm added. Kazakhstan Has Warmed to Crypto Operations Migrating to the Country A few years ago, Kazakhstan officials seemed hesitant about allowing the crypto economy to flourish in the country near the Caspian Sea. In 2018, reports noted that Kazakhstan would possibly prohibit bitcoin mining and other types of crypto services. A few years out, the country’s authorities and financial regulators seem a lot more open to adopting crypto assets. Recently Kazakhstan’s central bank announced plans to pilot a central bank digital currency (CBDC) with a few private companies. The founder of the Kazakhstan-based Xive, a cryptocurrency energy contract operation, says that Chinese mining companies are regularly seeking out plots in the country to set up shop. “These people are waiting for some clarification from the Chinese government, and they are looking for a plan B in case the government restricts or somehow bans mining altogether,” Bekbauov said in an interview. Canaan’s after-sales team plans to respond to miners located in Kazakhstan working in the field in order to repair mining rigs, and to “minimise the potential revenue impact on customers.” Mining farm operators leveraging Canaan-brand machines will be able to monitor batches of rigs and Canaan’s after-sales team plans to train miners on how to use FMS tools. “The establishment of the service center in Kazakhstan is strategic in expanding our after-sales geographical coverage and providing faster and easier access to support our growing international customer base,” Canaan’s chairman and CEO Nangeng Zhang said about the company’s new venture. “This development builds on our commitment to service excellence and providing a best-in-class client experience,” the Canaan executive concluded. What do you think about Canaan setting up an ASIC mining rig service center in Kazakhstan? Let us know what you think about this subject in the comments section below. View the full article

Two U.S. senators have urged lawmakers to increase measures to regulate cryptocurrencies, including how to trace cryptocurrency transactions, in order to combat ransomware attacks. “We haven’t figured out in the country or in the world how to trace cryptocurrency,” one senator said, adding that “We’ve got to do a better job here.” Senators Urge Lawmakers to ‘Do Better’ in Regulating Cryptocurrencies Two senators on the Intelligence Committee talked about the government’s efforts to combat a growing problem of ransomware involving cryptocurrency in an interview with NBC News Sunday. Senator Roy Blunt recalled that he and Senator Tom Carper were leading the effort to try to make reporting of ransomware attacks mandatory. However, he said that “there was a lot of pushback” because “Nobody wanted to report that they had been hacked.” He added: “That was a fight we’ve been having now for almost a decade. And the only way you can begin to get on top of this is to know how pervasive the problem is, try to develop a pattern.” He emphasized that cryptocurrency should not be allowed to be “behind the scenes in the entire system.” The senator elaborated: We have a lot of cash requirements in our country, but we haven’t figured out in the country or in the world how to trace cryptocurrency … We’ve got to do a better job here. “People almost always pay the ransom. There are very few consequences. And you can’t trace the ransomware — the ransom payment of choice now,” he emphasized. Another senator, Mark Warner, also commented on cryptocurrency use in ransomware. He said: “There was some good things coming out of distributed ledger technology, but we are seeing now some of the dark underbelly, the challenges, and that’s why I’m focusing more on transparency.” He noted that “if a company is paying, if there’s not some transparency of that payment, the bad guys will simply find another way to hide it,” adding: This debate about crypto and ransomware is just starting. So, that’s why in the meantime, let’s put in place these transparency requirements. Last week, Lisa Monaco, deputy attorney general, a top Justice Department official, warned that businesses need to be more prepared to fight ransomware attacks. She told CNBC in an interview that “The message needs to be to the viewers here, to the CEOs around the country, that you’ve got to be on notice of the exponential increase of these attacks.” She opined: The use of cryptocurrency can have many good applications, of course, but we have to be mindful of the misuse, the abuse, of criminal actors in this space. That’s why we really need, both the exchanges and the companies that are going to be working with them, to cooperate with the FBI. What do you think about the two senators calling for increased crypto regulation to combat the ransomware problem? Let us know in the comments section below. View the full article

Player cashes out approximately $180,000 after winning it on Sun of Fortune: Hold the Jackpot! Multiple Wins Result in a Total Bank of Over 5 BTC The weather was perfect, with just enough sunshine to warm up one lucky player starting a gaming session on the newly released game, Sun of Fortune: Hold the Jackpot. Little did this player know that the day had much more in store for them: the most lavish fortunes they ever imagined. With a range of game choices at Bitcoin.com Games, picking one is a matter of deciding whether you want to play for the biggest jackpots available, choose a game with the highest multiplier, or get busy chasing free spins on a game that offers plenty of bonuses. Sun of Fortune – Hold the Jackpot is the newest release from the top gaming provider Wazdan This lucky player happened to pick the newest release from one of the top gaming providers, Wazdan, and ended up winning a massive prize of approximately $180,000 in BTC over multiple rounds with bets of just a few hundred dollars. That’s enough to get you a Lambo, a Ferrari, or even a nice house or apartment of your choice! Online casino games are widely known for dishing out extravagant amounts of money on even the smallest of bets. Sun of Fortune: Hold the Jackpot video slot on Bitcoin.com Games features over 1,400 multipliers that can be applied to players’ bets. With amazing graphics and great gameplay, this and many other slot games on the premium bitcoin casino offer big multipliers that can land players in the lap of extravagant fortunes. Play Sun of Fortune: Hold the Jackpot now or check out other games with big jackpots that you can play exclusively on Bitcoin.com Games. This is a promoted post. Learn more on how to reach our audience here. Read the disclaimer below. View the full article

Microstrategy will soon hold more than 100,000 bitcoins in its treasury. The company is raising $400 million by selling senior secured notes and will use the proceeds to acquire additional bitcoins. Microstrategy Acquiring More Bitcoin Microstrategy Inc. (Nasdaq: MSTR) announced Monday it intends to offer $400 million of “senior secured notes due 2028” in a private offering to qualified institutional buyers. The company detailed: The notes will be fully and unconditionally guaranteed on a senior secured basis, jointly and severally, by Microstrategy Services Corporation, a wholly owned subsidiary of Microstrategy, and certain subsidiaries of Microstrategy that may be formed or acquired after the closing of the offering. The company further explained that “The notes and the related guarantees will be secured, on a senior secured basis with Microstrategy’s existing and future senior indebtedness, by security interests on substantially all of Microstrategy’s and the guarantors’ assets, including any bitcoins or other digital assets acquired on or after the closing of the offering.” However, “existing bitcoins as well as bitcoins and digital assets acquired with the proceeds from existing bitcoins” will not be used to secure the notes, Microstrategy clarified, elaborating: Microstrategy’s existing approximately 92,079 bitcoins will be held by a newly formed subsidiary, Macrostrategy LLC. Microstrategy intends to use the net proceeds from the sale of the notes to acquire additional bitcoins. At bitcoin’s current price of $36,116 at the time of writing, Microstrategy’s $400 million would acquire over 11,075 BTC. That means the company’s cryptocurrency stash would grow to more than 103,154 bitcoins. What do you think about Microstrategy’s bitcoin stash exceeding 100K bitcoins? Let us know in the comments section below. View the full article

The chairman of major Indian company Infosys says that crypto should be regulated as an asset, like a commodity. He believes that crypto investors will significantly contribute to India’s economy. Infosys Chairman Wants Crypto Regulated as an Asset Infosys Chairman Nandan Nilekani says the Indian government should regulate crypto as an asset that can be bought or sold, like a commodity, according to an interview with the Financial Times. He explained: Just like you have some of your assets in gold or real estate, you can have some of your assets in crypto. I think there’s a role for crypto as a stored value but certainly not in a transactional sense. Established in 1981, Infosys is a NYSE-listed Indian multinational information technology and consulting company with about 25,000 employees. The company has a presence in over 50 countries. Nilekani has long worked with Indian authorities to help craft digital policies, including the Aadhaar biometric identity program. He also chaired a central bank committee on digital payments in 2019. Nilekani believes cryptocurrencies are not suitable as a means of payment because they are too volatile and energy-intensive. In addition, he thinks that India’s Unified Payments Interface (UPI) digital payments infrastructure is more effective. The chairman explained that cryptocurrency investors would “put their wealth into India’s economy” if they are allowed to tap into the $1.5 trillion cryptocurrency market. The Indian government is still working on the country’s crypto policies. There is a cryptocurrency bill that was supposed to be introduced in the Budget session of parliament but it was not. This bill proposes banning cryptocurrencies. However, there are reports that the government is reevaluating the bill and is setting up a panel of experts to come up with new recommendations. Last week, India’s central bank, the Reserve Bank of India (RBI), clarified its position on cryptocurrency. The RBI informed banks that its April 2018 circular, which banned financial institutions from providing services to cryptocurrency businesses and traders, is no longer valid and should not be cited or quoted. Shaktikanta Das also confirmed that the bank’s position has not changed and it still has “major concerns” regarding cryptocurrencies. Infosys has adopted blockchain technology, offering “a comprehensive suite of end-to-end blockchain services from advisory, implementation, change management, to operationalization and application maintenance,” its website describes. Nilekani opined: I think, frankly, the opportunities today are better than ever before. In the 40 years I’ve been in this industry, I’ve never seen so much change and acceleration happening. The Infosys chairman is not alone in thinking that crypto should be regulated as an asset in India. Last month, former Finance Secretary Subhash Chandra Garg, who headed the committee that drafted the bill to ban cryptocurrencies, said that the government should regulate them as crypto assets instead of banning them. He explained that when the bill was drafted, crypto was more widely used as a currency rather than an asset but that has changed. Now, crypto is being used as an asset and an investment vehicle in India mich more than a currency. Do you think the Indian government should regulate crypto as a commodity? Let us know in the comments section below. View the full article

PRESS RELEASE. Bitcoin.com Exchange is ecstatic to announce the listing of STAK, being available to trade on the 7th June 2021 at 10:00AM UTC. STAK was created by the Jigstack team, as the driver and as its governance token, incorporating a variety of specific DeFi protocols under one Jigstack umbrella. STAK will start trading with USDT as a pair. What is Jigstack? Jigstack is a decentralised autonomous organisation governing a portfolio of ethereum network assets and protocols. All assets deployed under the Jigstack brand are audited, non custodial, trusted and secure. By standardising a uniform quality with a high performance and resilient application, users all around the world can manage their finances with confidence and comfort, knowing their assets are safe and under their complete control. What is the STAK token? The term DAO stands for “decentralized autonomous organization” and can be described as an open-source blockchain protocol governed by a set of rules, created by its elected members, that automatically execute certain actions without the need for intermediaries. Software or governance improvement proposals, DAO direction, financial remuneration for service providers, vendor selection, etc. are all handled by community participation. DAO’s up to the current time have been focused on specific types of protocols, whether that be lending platforms, NFT art marketplaces, decentralized exchanges, or even leveraged yield farming platforms, all of these DAO’s are dealing with a single product. Jigstack, on the other hand, aims to create a structured system for the DAO to exist within, utilizing $STAK as its governance token, incorporating a variety of specific DeFi protocols under one Jigstack umbrella. With strategic partnerships, such as Hedera Hashgraph, utilizing its protocols and creating its very own in-house flagship DeFi products, Jigstack positions itself to be the brand name for the DAO of DeFi. Strong Endorsement Danish Chaudhry, CEO of Bitcoin.com Exchange, shared his views on Jigstack, and their respective token STAK: “The team at Jigstack is run by some great developers in the sphere, and with their current and upcoming partnerships, the platform will be one to be reckoned with, even currently at its infancy. Their purpose is clear, to govern a range of high quality, revenue-generating network solutions on the Ethereum blockchain, and with plans for further interoperability, this is a project to keep an eye on.” Chaudhry continues on by saying: “We’re very excited to see how Jigstack will continue to empower their vision to become the DAO for DeFi, and gain further outreach with our outstanding community at the exchange.” Roby Weir, COO at Jigstack also expressed his enthusiasm with the listing: “We are excited to be listed on Bitcoin.com Exchange. Their team has been so helpful through the whole process and we are now looking forward to seeing Stak in more people’s hands.” 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 Jigstack Jigstack’s vision to bring back wholeness, simplicity, and understanding to the users. The Jigstack protocol aims to do this by developing a suite of productive flagship DeFi products that are all governed under a single Decentralized Autonomous Organization (DAO). Jigstack is positioned as the DAO of DeFi. The platform is the “One Stop Shop” for everything DeFi, and on top of that, it offers an interactive and interesting interface for users thereby allowing them to easily understand each product and how to interact with it, thus gaining exposure to the DeFi ecosystem in a safe and effective manner. 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

Progressive Care, a company that operates a chain of pharmacies in the United States, has announced it’s now accepting cryptocurrency for its Covid-19 rapid testing services. Customers are welcome to pay with bitcoin for the quick tests offered at its Pharmcorx locations using a dedicated QR code. Pharmacies Offer Quick Covid Tests for Bitcoin Florida-based Progressive Care Inc. announced in a press release that the company now accepts bitcoin (BTC) as payment for Covid-19 fast testing at its Pharmcorx locations. CEO Alan Jay Weisberg pointed out that the option will allow “those with an alternative view of payment systems to get the testing services they require.” Noting Progressive Care’s dedication to efforts against a resurgence of the virus, the executive stated: We believe in the future of blockchain technologies, generally speaking, and we want to extend our market-leading services in rapid Covid-19 testing solutions to those who prefer to pay through Bitcoin. Weisberg also emphasized that by accepting cryptocurrency the pharmacy chain offers “an excellent alternative for post-pandemic tourists coming into our communities from abroad.” Progressive Care took the decision to introduce the crypto payment option on the eve of the Bitcoin 2021 conference in Miami. The forum has attracted more than 50,000 visitors, including many from abroad, to the Miami metropolitan area which is the company’s main market. Expecting a wave of customers who might require fast Covid testing, the company has generated a QR code for the bitcoin payments to cater to the needs of the cryptocurrency community. Pharmcorx Invites Bitcoin Holders to Its Locations Progressive Care claims that Pharmcorx was the first pharmacy to offer a crypto payment solution for its services some three years ago. The company says that the recently introduced payment option is expanding that commitment. Thus, Pharmcorx is increasing accessibility to PCR tests required by most international airlines as the coronavirus pandemic is still ongoing. Alan Weisberg also said: We are happy to invite Bitcoin holders to our locations for all of their Covid-19 testing needs. “Pharmcorx is invested in becoming the leading testing destination for Rapid Covid-19 Testing solutions for international airlines, Fortune 500 global entertainment companies, chain restaurants, corporate employers, and financial institutions,” the chief executive added. The pharmacy chain has already tested more than 10,000 people for Covid-19, earning over $1 million dollars in revenue. Have you used cryptocurrency to pay for Covid-19 testing or other pharmacy services? Tell us in the comments section below. View the full article

As the conversation about Bitcoin’s energy consumption reaches a fever pitch, Jack Dorsey’s payment provider Square has unveiled plans to fund a sustainable bitcoin mining facility in conjunction with Blockstream. Mining Project to Serve as Scalable Proof of Concept Bitcoin faces no shortage of consternation, but the spat over the cryptocurrency’s footprint spilled out into the public over the last few weeks following comments from Elon Musk. Although U.S. miners have come together to form the Bitcoin Mining Council following Musk’s critique by promising more transparency on mining’s energy use, Jack Dorsey’s Square plans to lead the way in terms of substantive action. Instead of jawboning the crypto up and down, Dorsey is putting Square’s reputation on the line with an investment allocation to a sustainable mining initiative. The payment giant revealed plans to invest $5 million in a solar-energy-based mining facility in partnership with Blockstream, which will be responsible for providing the infrastructure development know-how. The project will ultimately deliver a proof of concept that underlines how sustainable bitcoin mining can be accomplished at scale, paving the way for more widespread adoption of these techniques. Besides committing itself towards pushing renewable energy into the bitcoin mining conversation, Square envisions the project demonstrating how the cryptocurrency can be an accelerator for heightened sustainability in the future. This action alone contrasts sharply with the more opaque position taken by Musk. However, speculation has also grown that the entrepreneur wants to throw his hat into the ring by introducing a green mining solution of his own by leveraging his existing hardware manufacturing know-how. Square has long been a supporter of cryptocurrencies, and this latest interest in mining echoes other ambitions at the payment provider, like introducing its own hardware wallet solution. During recent tweets, Dorsey underscored that the company was considering collaborating with the community to build a bitcoin hardware wallet to focus on core features like non-custodial functionality, a user-friendly experience, reliability, and minimal setup time. Do you think Dorsey’s investment in solar-powered bitcoin mining would have come about without Elon Musks’s awakening the green sleeping giant? Let us know in the comments section below. View the full article

The G7 finance ministers and central bank governors have met and agreed to work towards common principles for state-backed digital currencies and publish their conclusions this year. They said these digital currencies “could act as both a liquid, safe settlement asset and as an anchor for the payments system.” G7 Setting Common Rules for Central Bank Digital Currencies The G7 finance ministers met in London on June 4-5, the first face-to-face meeting of finance chiefs since the G20 finance leaders met in Saudi Arabia in February last year. The meeting followed the one held virtually on May 28 where the G7 finance ministers and central bank governors attended. The G7 comprises the U.S., U.K., Japan, Germany, France, Italy, and Canada. Among the topics they discussed was central bank digital currencies (CBDCs), according to the G7 Finance Ministers and Central Bank Governors Communiqué published Saturday. “Innovation in digital money and payments has the potential to bring significant benefits but also raise public policy and regulatory issues,” the communiqué reads. Noting that the G7 central banks “have been exploring the opportunities, challenges, as well as the monetary and financial stability implications of central bank digital currencies,” the finance leaders declared: “we commit to work together, as finance ministries and central banks, within our respective mandates, on their wider public policy implications.” They elaborated: We note that any CBDCs, as a form of central bank money, could act as both a liquid, safe settlement asset and as an anchor for the payments system. “Our objective is to ensure that CBDCs are grounded in long-standing public sector commitments to transparency, the rule of law, and sound economic governance,” they continued. “CBDCs should be resilient and energy-efficient; support innovation, competition, inclusion, and could enhance cross-border payments; they should operate within appropriate privacy frameworks and minimise spillovers,” they added, emphasizing: We will work towards common principles and publish conclusions later in the year. The heads of the International Monetary Fund (IMF), World Bank Group, Organisation for Economic Cooperation and Development (OECD), Eurogroup, and Financial Stability Board (FSB) also participated in the G7 finance chiefs’ meetings. What do you think about the G7 setting up a common regulatory framework for central bank digital currencies? Let us know in the comments section below. View the full article

Tony Hawk, the American professional skateboarder often referred to as ‘Birdman,’ discussed bitcoin at the Bitcoin 2021 conference in Miami and told the crowd he got into the crypto economy in 2012. Hawk said he heard about the crypto asset after reading about the Silk Road marketplace and at the time, he said to himself bitcoin is the “future of finance.” Tony Hawk Discovered Bitcoin in 2012, Professional Skateboarder Gave Some to Charity in 2014 The popular skateboarder Tony Hawk spent some time with bitcoiners this past weekend at the multi-day Bitcoin 2021 conference held in Miami. During Hawk’s speech at the event, he explained how he was “living the dream” when he was skating for a living. He compared this passion to people involved with bitcoin and said: I embraced the idea that skateboarding was for misfits. I felt like a misfit as a kid. I felt like I found my community, my tribe. At the conference, Hawk discussed the cryptocurrency revolution with the cofounder of Augur Jeremy Gardner. The skateboarder further revealed he is also auctioning 50 limited edition bitcoin skateboards as well for charity. There’s also a single limited edition Hawk-signed skateboard that says “End Fiat.” While speaking to the crowd in Miami, Hawk noted that he discovered bitcoin during the time when the Silk Road marketplace existed back in 2012. The skateboarder said he was reading about the Silk Road situation and was fascinated by the technology. “I was reading about the chaos of [the] Silk Road when that was all happening and I was fascinated with the payment component they had and it was obviously bitcoin,” Hawk said during his talk. “There was an anonymous side to it but it was also just the idea that it was very fast and international and to me, it was the future of finances so I immediately researched how to buy bitcoin. I wasn’t on [the] Silk Road,” he added. “But I did buy bitcoin in 2012.” The popular skateboarder continued: I held, pretty much. I didn’t do much with it. I was watching it obviously. I was holding on to my Bitcoin and charity water was the first charity that I knew of that accepted bitcoin as a donation so in my infinite wisdom I gave him four back in 2012. Special Meet-and-Greet Sessions With Hawk Helps Fund Global Skateparks When Hawk donated the funds to charity water it was back in 2014, and the organization’s CEO Scott Harrison detailed it was sold to fund the charity for far less than what BTC is worth today. Hawk also did a meet-and-greet session with a number of conference attendees who held a special pass. Some of the proceeds from the meet-and-greet special passes will be donated to The Skatepark Project nonprofit, which helps build local skateparks worldwide. What do you think about Tony Hawk getting into bitcoin back in 2012? Let us know what you think about this subject in the comments section below. View the full article

PRESS RELEASE. Vulcan Forged has secured IP rights to several artists’ work to bring fantasy-themed NFTs to the VulcanVerse. Cardiff, United Kingdom – Blockchain gaming platform Vulcan Forged has secured the intellectual property (IP) rights for works included in the Frank Frazetta Art collection. The team plans to use these rights to create and distribute fantasy-themed non-fungible tokens (NFTs), brandishing the famous works, in Vulcan’s in-game world the VulcanVerse. Fantasy Art Meets Virtual Reality Amongst the famous artworks, Frank Frazetta’s “Egyptian Queen” – a painting that recently sold for $5.4 million – will be tokenized for the first time as an NFT-themed ‘Vulcanite’ – a champion in the in-game world. Some of the original licensed artworks have already sold for millions of dollars globally. Most notably, the Vulcan team has secured the rights to designs by the so-called “Godfather of Fantasy Art”, Frank Frazetta. Frazetta is a world-renowned fantasy and science fiction artist most famous for his Conan The Barbarian illustrations. He has gone on to become an icon and inspiration for the current generation of fantasy artists. How will Vulcan Forged use the IPs? The Vulcan team has confirmed that many of the NFTs set to be launched in the VulcanVerse will be minted for the first time on the platform’s native blockchain as Vulcanites. Besides the digital ownership of the actual artwork, Vulcan Forged users will be able to use the tokens as champions inside VulcanVerse, the flagship MMORPG, and other games in the ecosystem. The current IP licenses will also allow VulcanVerse to use the characters in the five upcoming gamebooks, contributing substantially to the profound lore that permeates the whole ecosystem. Vulcan Forged Forges the Future Vulcan’s gaming ecosystem has been making headlines as a result of its fast pace of development and its ever-growing gamer community. Incarnate – a 3D Board game with 8,000 champions – is one of the many upcoming games to join the Vulcan Forged ecosystem. It will also offer marketing, technical support, and $40,000 in development grants for blockchain games and dapps on the vulcan platform. Moreover, most recently, a fantasy trading card game called Berserk launched in the VulcanVerse. Players can simulate battles based on the ‘creatures’ associated with each Berserk playing card, as well as exchange playing cards in the vulcan ecosystem. The launch is set to include a tournament with $100,000 in rewards for the victors. Vulcan users will soon be able to claim a portion of the previously announced $20 million reward pool by playing games in the ecosystem or staking the platform’s native token, PYR. Indeed, PYR was recently listed on centralized cryptocurrency exchange KuCoin, its first appearance in the open market. The listing is an effort to support PYR and the wider Vulcan Forged ecosystem, whose marketplace now has over $60 million in trading volume to date. Finally, the team has introduced a fiat-crypto ramp to expand the payment options for new and existing users, and plan to launch 100 additional games in the VulcanVerse by the end of 2021. More recently, the Vulcan Forged team announced the platform will support NFTs created on the Polygon network as a result of their latest partnership with Network Arkane. About VulcanVerse VulcanVerse is a virtual world set in the Greco-Roman era. It is a stand-alone game that uses blockchain technology to enable users to truly own their land and assets. Its detailed lore is written by the authors of Fighting Fantasy, a series of successful single-player role-playing gamebooks created by Steve Jackson and Ian Livingstone. Additionally, the virtual world boasts complex gaming tools and multiplayer game-playing functionalities. VulcanVerse is blockchain-based, with key items in the virtual world existing as NFTs on a purpose-built blockchain. Vulcan’s Berserk can be accessed via a downloadable application that recently became available on Google’s Play Store. For more information on how to become part of the VulcanVerse, visit their website here. Follow Vulcan Forged on Twitter Join the Vulcan Forged community on Telegram Like Vulcan Forged on Facebook Stay up to date via Vulcan Forged’s Discord Learn more about the virtual universe on VulcanWiki VULCANFORGED 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

Nearly 36% of Nigeria’s 106 million adults lack access to both regulated and unregulated financial services, according to the findings of the Enhancing Financial Innovations and Access (EFIA) study. In addition, while the findings do suggest a marginal drop in the percentage of financially excluded adults in the past few years, overall “the actual number of financially excluded adults increased from 36.6 million to 38.1 million.” Population Growth Rate Faster Than Financial Inclusion Growth Rate Additionally, the study findings show this number (financially excluded adults) rising to 52.5 million when not including those that gain access via the so-called informal or unregulated financial services. Meanwhile, in its report, the EFIA attributes this mismatch (between the number of Nigerians that are unbanked (in percentage terms) and the actual number of excluded adults) to the population growth rate. In fact, according to EFIA, Nigeria’s population growth rate is currently outpacing “the rate of financial inclusion growth.” On the other hand, when compared with past studies, the latest findings suggest that Nigeria’s “proportion of formally served adults increased for the first time since 2014.” Yet, despite this apparent drop in the number of unbanked adults, Nigeria still lags behind countries like South Africa and Rwanda where only 7% of the adult population is unbanked. As the findings of the study that was carried between November 2020 to February 2021 show, Kenya (11%) is the country with the next lowest number of adults that are unbanked while Burkina Faso (39%) has the highest number. Importance of Digital Financial Services Also of particular significance for advocates of emerging fintechs is the study’s findings asserting the growing importance of digital financial services in Nigeria. The EFIA study report states: Growth in digital financial services, agent networks, and mobile phone ownership (now at 81%) highlights the opportunity to drive faster financial inclusion growth through digital financial services such as mobile money. The study report, however, fails to share details of the actual digital financial services or products that Nigerians are using. Instead, the report seems to only discuss the potential impact of the increased uptake of mobile money on Nigeria’s financial inclusion targets. What are your thoughts on the latest number of Nigerians that are unbanked? You can share your views in the comments section below. View the full article

As part of government efforts to get the digital yuan going, authorities in Shanghai will distribute $3 million worth of the central bank-issued currency among residents of Shanghai. The digital money will be dispersed through a lottery, a method that has already been implemented elsewhere in China. Lottery Winners to Get 350,000 Digital Red Envelopes The city of Shanghai is going to hand out 19.25 million yuan in digital currency, or around $3 million. The money will be distributed among local consumers through a lottery system, the state-run Xinhua news agency reported quoting the Shanghai Municipality. Municipal government headquarters, Shanghai. Lottery winners will receive a total of 350,000 digital red envelopes. Each one of them will be loaded with 55 units of the Chinese central bank digital currency (CBDC), the municipal information office announced Friday through its official Wechat account. In Chinese tradition, red envelopes are small packets with money usually given to children, family members, friends, and employees, which are intended as a good luck wish. The red color in China is also perceived as a symbol of energy and happiness. Shanghai authorities have invited individual consumers to sign up for the lottery. They can do that through the official Wechat accounts of the local branch of the Industrial and Commercial Bank of China and the cloud service of the Bank of Communications in Shanghai. The registration window will be open on June 5 – 6. Shanghai Joins a List of Cities Testing the Digital Yuan As one of the four directly administered municipalities in China, Shanghai is governed by the State Council of the People’s Republic. The Chinese government has been pushing forward with the implementation of its Digital Currency Electronic Payment (DCEP) system, as the digital yuan infrastructure is officially called. It has already given away millions of dollars’ worth of Chinese digital currency. Shanghai Skyline Similar trials have been launched in a number of other Chinese cities, including the capital Beijing, Shenzhen, Chengdu, and Suzhou. Residents who receive the handouts are free to spend the funds at merchants that already accept the digital currency issued by the People’s Bank of China (PBoC). Media reports have suggested, however, that Chinese citizens have been reluctant to participate in the trials due to various concerns related to privacy and government surveillance. Many have also been hesitant to switch from popular mobile payment apps such as those offered by platforms like Wechat and Alipay. What’s your opinion about the digital yuan giveaway in Shanghai? Let us know what you think in the comments section below. View the full article

Chipper Cash, an African fintech firm that specializes in facilitating cross-border payments, recently closed a $100 million Series C funding round. Taking the lead in what is now Chipper Cash‘s third fundraising round in the past twelve months is the venture capital (VC) firm, SVB Capital. The VC firm is an investment arm of U.S. high-tech commercial bank, Silicon Valley Bank. The New African Fintech Unicorn Other notable participants in this Series C round include Deciens Capital, Ribbit Capital as well as the Jeff Bezos backed Bezos Expedition. Following the conclusion of this Series C funding round, Chipper Cash has now raised a total of $143.8 million in just a year. As a consequence, some observers now estimate Chipper Cash’s valuation to be between one and two billion dollars. Notably, with this capital raise, Chipper Cash becomes the latest African fintech firm to attract the interest of leading venture capital firms. Other African fintech start-ups that similarly received support from major VC firms include Flutterwave, Tymebank and O Pay. Crypto Services and the CBN Prohibition Chipper Cash’s significant capital raise in a short space of time came as it expanded the range of products it offers. According to a report, the fintech firm now offers cryptocurrency trading options as well as other business payment solutions. The report also quotes Ham Serunjogi, the fintech’s CEO explaining some of the factors that prompted Chipper Cash to add new services. He said: Our approach to growing products and adding products is based on what our users find valuable. As you can imagine, crypto is one technology that has been widely adopted in Africa and many emerging markets. So we want to give them the power to access crypto and to be able to buy, hold and sell crypto whenever. Nevertheless, the CEO clarifies that Chipper Cash is not currently offering crypto-related services to its clients in Nigeria. He cites the Central Bank of Nigeria (CBN)’s anti-crypto directive as the sole reason why the fintech firm cannot extend its cryptocurrency-related services to Nigerians. Serunjogi meanwhile says his company is still “looking forward to any development in Nigeria that allows it to be offered freely again.” What do you think of Chipper Cash’s latest funding round? You can share your views in the comments section below. View the full article

An advertising campaign across some of Ukraine’s most populous cities is now aiming to attract new traders to the world’s largest digital asset exchange, Binance. The Eastern European nation is known as a promising market and a leader in terms of cryptocurrency adoption. Binance Ads Appear on Trains and Trolleys in Ukraine Cryptocurrency exchange Binance has embarked on a mission to entice more Ukrainian traders to its world-leading coin trading platform. The company has recently launched a nationwide campaign showing Binance ads to the residents of the capital Kyiv and three of the country’s largest cities, Kharkiv, Odesa, and Lviv. The organizers are now playing clips advertising Binance onboard the Intercity trains connecting these cities, Forklog reported. The ads run under the slogans “Blogger by Day, Trader by Night” and “Designer by Day, Trader by Night” on the trains’ infotainment systems, a video posted on Youtube shows. The ads call on crypto users among commuters to “Trust the Best” and “Join the Community.” Source: Forklog Binance advertisements have also appeared on public transport vehicles in the cities. A photo posted by the crypto news outlet shows a sticker reading “Today With a Trolley, Tomorrow With a Geliк” on a trolleybus branded with the Binance logo and colors. The text accompanies a picture of a luxury SUV, with Gelik being a slang word for the posh Mercedes-Benz G-Class (Geländewagen). Not the First Crypto Signs in Bitcoin-Friendly Ukraine This isn’t the first time Ukraine’s mass transit has displayed crypto-related messages. About two years ago, LED signs flashing the text “Bitcoin to the Moon” were spotted on a tramcar in the city of Vinnytsia, as Bitcoin.com News reported. The pro-bitcoin boards were mounted on a new Vin Way tram, manufactured locally by the Vinnytsia Transport Company. Ukraine has emerged over the past few years as a crypto-friendly destination. Chainalysis ranked the country first among more than 150 nations in last year’s edition of its Global Crypto Adoption Index. The government in Kyiv has been working with the crypto industry on a project to issue a central bank digital currency, and Ukraine’s Public Radio recently broadcasted a podcast episode devoted to Bitcoin. In 2019, the world’s largest crypto exchange by daily volume signed a memorandum of understanding with the Digital Transformation Ministry of Ukraine to cooperate on the establishment of a legal framework for cryptocurrencies and other digital assets. Last year, Binance offered users the option to deposit and withdraw fiat amounts in Ukrainian hryvnia using bank cards. What do you think about Binance’s advertising campaign in Ukrainian cities? Tell us in the comments section below. View the full article

PRESS RELEASE. The newest utility token to offer staking to its users/holders is GraphLinq Protocol’s $GLQ. As of this article, $GLQ has 4,500+ holders according to etherscan, excluding GLQ holders on CEX like Kucoin, MXC, Gate. This is a great step for the future of the project as it will further incentivize more users to hold. Explore more about GraphLinq, its staking mechanism & steps to stake. What Is GraphLinq? GraphLinq – The No Code protocol for automating actions on-chain & off-chain, launched in just March 2021, has come a long way bringing users in the crypto space a never seen model of integrating blockchain automation on any blockchain-related/non-related task. The goal of the GraphLinq protocol is to allow users to interact blockchains with any connected system as effortlessly as possible without any prior knowledge of coding. GraphLinq ecosystem currently consists of an engine, an integrated development environment (IDE) & an app to provide automated services all while leveraging centralized/decentralized data streams, several blockchains, and more. Also, recently they partnered with Polygon Network (Previously Matic) on multiple grounds. Learn: http://docs.graphlinq.io | Build: http://ide.graphlinq.io | Instant deploy: http://app.graphlinq.io | Analytics: https://analytics.graphlinq.io/ About $GLQ Token GLQ is the native token for the GraphLinq ecosystem built on top of Ethereum (ERC20). It is used to run a graph on the platform’s mainnet to execute different processes over the blockchain to automate tasks, triggering events, and much more. GLQ will be used as the payment method in GraphLinq Marketplace where templates will be bought and sold peer-to-peer. GLQ’s functionality & use cases will continue to diversify as the ecosystem grows, as mentioned in Graphlinq’s Documentation. All You Need To Know About $GLQ Staking GraphLinq has finally announced the much-awaited GLQ staking launch on the GraphLinq App, incentivizing the holders of GLQ to earn passive rewards. Upon staking, GLQ holders can earn as much as 50% APY in rewards depending on the unique tier mechanism aimed at incentivizing long-term holders. Initially, tier rankings are allotted in a decentralized nature as following: -> First 15% stakers of total stakers will be in Tier 1 and get 50% APY -> Next 40% stakers will be in Tier 2 and get 25% APY -> The rest stakers will be in Tier 3 and enjoy a 12.5% APY The current APY is for a limited period only and would be updated in the near future. When you stake for the first time, you’ll be in Tier 3 first and then make it onto the higher tiers by holding for longer durations, as the number of stakers increases you can end up in the first 15% or next 40% stakers, increasing your tier rank. Also, stakers/holders in the higher tiers could drop to subsequent lower tiers upon withdrawing their staked GLQ, ultimately rewarding the long-term holders. To put it simply, the longer you hold, the more your rank is likely to get to the next tier with higher APY. At each withdrawal you will lose your tier advantages, benefitting the holders the most. The first withdrawal decreases your APY by half (if you’re not on tier 3), and the second will take you back to the last tier with the least APY. However, claiming yielded GLQ will not affect your tier ranks or rewards. (You can track & claim your staking rewards on the GraphLinq App’s Staking Page in real-time) Note: The team has mentioned that the current APY of the staking rewards is for a limited time only, and it will be updated from time to time in the near future. How Can I Buy & Stake My $GLQ in 3 Easy steps? A step-by-step guide to putting your $GLQ to work to get upto a whopping 50% APY! Step 1 First make sure to have some $GLQ! If you’re still looking for a way to get $GLQ, here is how you can secure your bag: Buy $GLQ on app.graphlinq.io using fiat through any of the following payment methods: SEPA, UPI, IMPS, Faster Payments Bank Transfer, credit & debit cards. For this method, you’ll need to verify your KYC and enter your ERC20 wallet address to receive GLQ. Swap your ETH/ERC20 for $GLQ on Uniswap, 1inch, Metamask wallet. You can also Buy $GLQ on any of these centralized exchanges (CEXs): Kucoin, MXC, Gate.io Video Tutorial on How To Buy GLQ: https://youtu.be/_3tOZhBb9zw Step 2 Connect Your ERC20 Wallet like Metamask, Coinbase Wallet, etc. to GraphLinq App by selecting your desired wallet. Approve the connection by clicking on “Sign” Step 3 Go to the Staking Interface by clicking on “Stake your GLQ” on the top bar or “Staking Interface” on the sidebar. Once you are on the Staking Interface, “Total Staked GLQ”, “My Staked GLQ”, “My Claimable Rewards” and your current Tier Ranking can be seen. Within the staking interface, you can find the option to “Withdraw” your staked GLQ and an option to “Claim Rewards.” But first, you we need to stake some GLQ. To do that, enter your desired GLQ amount to stake in the “Stake Your GLQ” field. After entering the desired figure, click on “Stake now” and approve the contract on your connected wallet. Then after the approval from your wallet, click on “Stake now” again and confirm on your connected wallet in order to complete the staking process. Video Tutorial On How To Stake GLQ: https://youtu.be/hHsVEp_zKp0 Congratulations, your GLQ has been staked successfully. 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. 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Cryptocurrency exchange Bitmex is sending bitcoin to the moon. A one-of-a-kind physical bitcoin will be minted and delivered to the moon by a leading space robotics company that Bitmex supports. The coin will hold one bitcoin at an address to be publicly released. Bitcoin Will Be on the Moon in Q4 Bitmex announced Friday that “Bitcoin is going to the moon.” While many say that bitcoin’s price has “gone to the moon” several times before, Bitmex means this time a physical bitcoin will be literally launched to the moon. Helping Bitmex land the coin on the lunar surface is the Pennsylvania-based commercial space company Astrobotic Technology Inc., a leading space robotics company that Bitmex supports. The exchange explains that the space robotics company will send “its first commercial lander to the moon in the fourth quarter of this year.” Astrobotic Technology “has been selected by NASA to deliver science, exploration and technology demonstration payloads to the lunar surface with its Peregrine lunar lander,” Bitmex further detailed, adding: Bitmex will mint a one-of-a-kind physical bitcoin, similar to the Casascius coins of 2013, which will be delivered to the moon by Astrobotic. The coin will hold one bitcoin at an address to be publicly released, underneath a tamper-evident hologram covering. Peregrine-1 is Astrobotic’s first commercial lunar lander due to launch in November 2021. “The payload is occupying an official slot on the manifest. It will be the first-ever bitcoin to be on the surface of the Moon, with photographic evidence taken to prove it,” Bitmex noted. The coin will display the Bitmex name, the mission name, the date it was minted, and the bitcoin price at the time of minting. “For all the talk of bitcoin going to the moon, we’re actually going to do it,” said Bitmex CEO Alex Höptner. Referencing Spacex CEO Elon Musk planning to “send DOGE to the moon,” Bitmex said: We’ve nothing against Dog Money, [but] we felt it was only right to help bitcoin get there first. What do you think about Bitmex sending a bitcoin to the moon? Let us know in the comments section below. View the full article

At the Bitcoin 2021 conference in Miami, El Salvador’s president, Nayib Bukele, appeared via a Zoom presentation and noted that he plans to submit a bill next week that recognizes bitcoin as legal tender. Bukele revealed a partnership with the company Strike, a bitcoin payments firm launched by Jack Mallers. Progressive President Nayib Bukele Says Bitcoin Will be Legal Tender in El Salvador El Salvador is looking to become the first country to adopt bitcoin (BTC) as legal tender, as the country’s president Nayib Bukele announced El Salvador’s BTC support at the Bitcoin 2021 conference in Miami. Bukele revealed that the country has formed a relationship with the firm Strike, a Lightning Network payments company created by Jack Mallers. Mallers explained during the conference that it will go down as the “shot heard ’round the world for bitcoin.” Mallers added: “What’s transformative here is that bitcoin is both the greatest reserve asset ever created and a superior monetary network. Holding bitcoin provides a way to protect developing economies from potential shocks of fiat currency inflation.” “Next week, I will send to congress a bill that will make bitcoin legal tender in El Salvador. In the short term this will generate jobs and help provide financial inclusion,” Nayib Bukele said at the conference via Zoom. El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 🚀@JackMallers pic.twitter.com/BnbLl6IZdH — Root 🥕🟩 (@therationalroot) June 5, 2021 After the president of El Salvador announced he would submit the bill, the conference attendees went wild with excitement. The news of course went viral on crypto forums and started trending on social media as well. Nayib Bukele is well known for being progressive since he took office in 2019 and has spoken about bitcoin before. “One small step for bitcoin. One giant leap for mankind. Thanks, Jack Mallers you made [history] today,” one individual tweeted. What do you think about the president of El Salvador announcing that the country will make bitcoin legal tender? Let us know what you think about this subject in the comments section below. View the full article

On Friday, FTX Exchange announced signing a naming rights deal with U.S. professional esports organization TSM for $210 million. The cryptocurrency exchange’s multi-year partnership arrangement will allow the crypto firm to rename the company to “TSM FTX.” Esports Firm TSM Will Change the Organizations’ Name to ‘TSM FTX’ FTX Exchange has acquired another naming deal after the recent arrangement with the Miami Heat’s arena in Florida. According to the exchange, the company has entered a multi-year partnership with the esports organization TSM for $210 million. TSM is an organization that fields players in a number of online competitions with games like PlayerUnknown’s Battlegrounds, PUBG Mobile, Tom Clancy’s Rainbow Six Siege, League of Legends, Apex Legends, Valorant, Hearthstone, and Super Smash Bros. The deal is between FTX Trading Limited, West Realm Shires Services Inc, and TSM. With exclusive ownership of the naming rights to TSM, the organization will now be known as “TSM FTX.” According to the announcement, the plan is to expand the operations and enter new markets in South America and Asia. Andy Dinh, the founder and CEO of TSM, praised the FTX Exchange executive Sam Bankman-Fried. “When I met Sam Bankman-Fried, I immediately knew we had to work together,” Dinh said. “Not only did TSM FTX fit perfectly as a brand, Sam is an innovative CEO that is in every way ahead of his time. Against all odds as a young ambitious entrepreneur, he has been able to disrupt markets by making smart decisions and by surrounding himself with smart people.” Major Philanthropic Initiative in the Works According to the announcement, “TSM FTX’s mission and focus” is looking toward social impact, and the rebranded firm plans to reveal a “soon-to-be announced major philanthropic initiative.” The initiative will hone in on things like “developing financial literacy” and “increasing educational opportunities,” the announcement explains. “In the end, our partnerships will only be as strong as we make them,” Sam Bankman-Fried, the founder and CEO of FTX Exchange remarked. “We think that TSM will be able to help massively expand the presence of digital assets outside the traditional landscape. We’re also proud to work with them to give back to the world,” the exchange executive added. What do you think about the naming deal between FTX and TSM? Let us know what you think about this subject in the comments section below. View the full article