roadrunner

The undefeated professional boxer Floyd ‘Money’ Mayweather recently spoke at the Bitcoin 2021 conference in Miami and was booed while speaking on stage. Mayweather’s speech wasn’t appreciated by members of the crowd because he didn’t discuss bitcoin much and toward the end, Mayweather said he believes another crypto will be “just as large as bitcoin someday.” Attendees at the Bitcoin 2021 Conference Disliked the Boxer’s Opinion Boxing legend Floyd Mayweather has been a fan of digital currencies for a long time now, as the boxer has participated in an initial coin offering (ICO) and recently released non-fungible token (NFT) collectibles. Mayweather is preparing to have a boxing match with the Youtuber Logan Paul, and recently spoke at the Bitcoin 2021 conference in Miami. .@FloydMayweather knows the #flippening is inevitable 🐬 $ETH 🐬 pic.twitter.com/h5SF0cWXxS — ETH Memes (@EthereumMemes) June 4, 2021 During Mayweather’s talk on stage, he discussed how blockchain technology and things like NFTs are changing the game. The legendary boxer did not talk about bitcoin (BTC) much, even though the event organizers had tried to keep the conference “bitcoin only.” The Bitcoin 2021 conference organizers say: “Save conversations about other protocols and cryptocurrencies for outside the conference.” In fact, the conference agenda notes that attendees should take altcoin discussions outside the event. However, the first day of the Bitcoin 2021 conference shows it was impossible to stop discussions concerning decentralized finance (defi) and topics like NFTs. ‘With or Without Any Cryptocurrency, Floyd Mayweather’s Going to Be Okay’ Mayweather was also wearing an “Ethereummax” t-shirt while speaking, which is the ERC20 token team that is sponsoring Mayweather’s bout with Logan Paul. Toward the end of the discussion, Mayweather told the crowd that he believes at some point in time another digital asset will be just as big as bitcoin. While Mayweather said his statement, a portion of the crowd booed the undefeated boxer because they didn’t like what he had to say. “Everybody in the crypto world is competing with one another, whereas I feel like everybody should be able to choose what they want to choose and go with who they want to go with,” Mayweather said, emphasizing that people should work together. “I believe there’s gonna be another cryptocurrency just as large as bitcoin someday,” he added. As soon as he made this statement, boos from the bitcoin maximalist crowd started. However, Mayweather responded fast and said he had a right to his own opinion and others have that right as well. “Without crypto…,” Mayweather concluded. “Without no cryptocurrency, I was able to make a billion dollars. With or without any cryptocurrency, Floyd Mayweather’s going to be okay,” the famous boxer told the crowd. What do you think about Floyd Mayweather’s appearance at the Bitcoin 2021 conference and how he got booed while on stage? Let us know what you think about this subject in the comments section below. View the full article

Over the last few months two distinct dog cryptocurrencies, shiba inu and dogecoin, have been making waves within the crypto economy. While dogecoin has been around since 2013 and has seen massive gains during the last year, the relatively new ERC20 crypto shiba inu has jumped significantly in value as well. Both Dogecoin and Shiba Inu Have Outshined Bitcoin’s Market Performance The cryptocurrencies dogecoin (DOGE) and shiba inu (SHIB) have made huge gains in 2021. In fact, both of these digital assets have outshined a great number of cryptos as far as percentage gains against the U.S. dollar are concerned. For example, investing in bitcoin (BTC) a year ago shows the investor would have gained a nice 290% against the USD. Dogecoin, on the other hand, at $0.37 per unit would have made the investor 14,787%, according to today’s 12-month data. Shiba inu tokens were invoked in August 2020 and are only 10 months old, newbies in comparison to dogecoin’s 2013 OG origins. There is no price data prior to January 1, 2021, which notes that SHIB was trading for $0.00000001 according to Coingecko. The price remained in this range for a few weeks after, but since then the token has risen 90,100% to today’s $0.00000862 exchange rate. 30-day stats show DOGE is down 33% but SHIB is up 425.6% over the course of the month. Weekly stats show SHIB has gained 13.8% but DOGE has outrun the token with 27.10% during the last week. Dogecoin investors have Elon Musk to thank this year, and on the other side of the token shiba inu investors can in turn thank dogecoin. While dogecoin was created by software engineers Billy Markus and Jackson Palmer as a joke and for fun, SHIB was also created for the same reasons. However, no one knows the identity of the SHIB programmer, as the ERC20 token was launched by its anonymous founder known as “Ryoshi.” Neither Canine Crypto Is Scarce Both coins have logos that feature the likeness of a Shiba Inu dog and both digital assets have lively communities. While there is a large DOGE ‘Army’ there are a number of fans who refer to themselves as the ‘SHIB Army.’ Coingecko ranks the shiba inu (SHIB) market capitalization in position 30 with a $4.5 billion market valuation. The dogecoin (DOGE) market capitalization today is much higher at $49 billion. Fees are higher to send SHIB as it costs 0.0019 ETH ($5.32) per transfer compared to 2.48 DOGE ($0.933) to send dogecoin. Dogecoin is widely available on a lot more exchanges than shiba inu, and recently got added to Coinbase. People can find SHIB on exchanges like Okex, Huobi, ShibaSwap, Kucoin, Coinbene, Probit Global, Binance, Crypto.com, Coindcx, and Wazirx. Moreover, there are a lot more SHIB tokens in circulation than DOGE. Data shows 497 trillion SHIB tokens exist today while there’s only 129 billion DOGE in circulation. Over the course of the last 24 hours, SHIB saw $800 million in global trading volume. Dogecoin’s volume surpassed that metric by a long shot with $6.2 billion in global DOGE swaps. These two coins may be similar as they both share the likeness of a Shiba Inu dog, but they have distinct differences as well. What do you think about dogecoin and shiba inu? Let us know what you think about this subject in the comments section below. View the full article

Russia has reportedly announced that U.S. dollar assets will be removed from its National Wealth Fund as U.S. sanctions on Moscow intensify. The fund, which currently totals about $600.9 billion, forms part of Russia’s gold and currency reserves. Russia Steps up De-Dollarization Efforts Russia’s finance minister, Anton Siluanov, announced at the St. Petersburg International Economic Forum on Thursday that dollar assets will be removed from the National Wealth Fund (NWF) altogether as Washington continues to impose sanctions on Moscow. According to a translation by Reuters, he told reporters: Like the central bank, we have decided to reduce investments of the NWF in dollar assets. The finance minister further revealed that the changes will happen within the next month, after which the fund will likely hold the euro (40%), the yuan (30%), gold (20%), the Japanese yen (5%), and the British pound (5%). The dollar portion of the fund will be replaced by the euro, the yuan, and the pound. Russia’s National Wealth Fund was initially designed to support the country’s pension system. It forms part of Russia’s gold and currency reserves. According to the publication, it totaled $600.9 billion as of May 27. Timothy Ash, a senior emerging markets strategist at Bluebay Asset Manager, calls Russia’s decision to ditch the dollar “very political.” He believes that the move is meant to “send a signal” to the Biden administration with the message: We don’t need the U.S., we don’t need to transact in dollars, and we are invulnerable to more U.S. sanctions. He noted that this could also be interpreted as a sign that Moscow is expecting more sanctions from the U.S. Russian President Vladimir Putin has made de-dollarization his country’s key policy in an effort to reduce the Russian economy’s exposure to dollar assets. The multi-year drive to reduce Russia’s vulnerability to U.S. sanctions comes amid deteriorating relations with Washington. In January, Russia’s central bank published a report showing that gold had surpassed the U.S. dollars in the country’s reserves for the first time. Furthermore, Bitcoin News reported in August last year that Russia and China had been collaborating to reduce their dependence on the U.S. dollar, and trade settlements in USD between the two countries had fallen below 50%. What do you think about Russia removing U.S. dollar assets from its National Wealth Fund? Let us know in the comments section below. View the full article

A class action lawsuit has been filed in South Korea accusing cryptocurrency exchange V Global of defrauding investors. The police reportedly estimate that 69,000 people have invested with the crypto exchange and the damage amounts to 3.8 trillion won. Crypto Exchange Sued for Defrauding Investors South Korean cryptocurrency exchange V Global has been accused of fraud worth $3.8 trillion won ($3.5 billion). A class action lawsuit has been filed by 130 victims. Daegeon, a law firm representing the victims, said: “The 130 victims decided to file a joint complaint with the Gyeonggi Southern Police Agency against three executives and employees, including the CEO of V Global, a cryptocurrency exchange, on June 4.” According to local media: The police estimate that 69,000 victims have invested with V Global and the damage amounts to 3.8 trillion won. Han Sang-joon, a lawyer at Daegeon, explained that there were “actually 20,000 to 30,000 victims who did not get their money back, and 600 billion to 1 trillion won in money that was not returned.” However, he emphasized that “It could be bigger.” In April, V Global filed a complaint against Daegeon for defamation. V Global held briefing sessions across the country from August last year until recently, promising investors that if they open an account with the crypto exchange and deposit at least 6 million won into the account, they “will get back 18 million won, three times the investment in a short period of time.” The victims also said that V Global divided investors into 7 levels and promised to pay them each time they brought in a new member. Investors soon realized that the crypto exchange operated a Ponzi scheme and the investment of existing members is returned with the money from new members. V Global has also issued its own native token. Gyeonggi Nambu Police Agency suspected illegal activities at V Global earlier this year and launched an investigation. The police are reportedly expanding their investigation nationwide since the company held investment briefing sessions and recruited investors from all over the country. Last month, the police raided the cryptocurrency exchange and V Global forfeited 240 billion won. Nam Gu-jun, head of the National Investigation Headquarters, said, “We have booked about 60 suspects so far, and we are analyzing the confiscated items before indictment.” What do you think about this case? Let us know in the comments section below. View the full article

Norton has added a cryptocurrency mining feature to its antivirus software. Users will be able to mine ethereum while their computers are idle. Miners can track and transfer their crypto earnings into their Norton Crypto Wallet. Antivirus Software Can Mine Crypto Nortonlifelock (NASDAQ: NLOK), a global cybersecurity company, announced Wednesday the launch of Norton Crypto, a cryptocurrency mining feature on the Norton 360 platform. The company explained: Norton Crypto delivers a secure, reliable way for consumers to mine for ethereum … Once cryptocurrency has been earned, customers can track and transfer earnings into their Norton Crypto Wallet, which is stored in the cloud so it cannot be lost due to hard drive failure. According to Norton Crypto’s terms and conditions, the crypto feature “allows you to use your personal computer’s computation power for low-volume cryptocurrency mining while maintaining the high level of protection provided by your subscription.” The mining software will run whenever the computer is idle. “We will periodically transfer your allocation of crypto, if any, to a digital wallet that we create for you,” Norton explained. “Each of these transfers (commonly known as ‘payouts’) is subject to our fee for providing the Norton Crypto mining software. Our fee is currently 15% of the crypto transferred to you.” Norton owns and operates its own mining pool. Vincent Pilette, CEO of Nortonlifelock, commented: “As the crypto economy continues to become a more important part of our customers’ lives, we want to empower them to mine cryptocurrency with Norton.” Gagan Singh, chief product officer at Nortonlifelock, opined: We are proud to be the first consumer cyber safety company to offer coinminers the ability to safely and easily turn the idle time on their PCs into an opportunity to earn digital currency. The company further clarified that from Thursday, “Select Norton 360 customers in Norton’s early adopter program will be invited to mine for ethereum,” adding that “Norton Crypto is expected to become available to all Norton 360 customers in the coming weeks.” Would you use Norton’s software to mine ethereum? Let us know in the comments section below. View the full article

A popular mobile wallet in the Philippines, Gcash, is considering offering its users the ability to buy, sell, and store cryptocurrencies on its platform, which reportedly has 40 million users. The company’s CEO says 40% of Filipinos now have a Gcash account. Gcash Considers Offering Crypto Trading and Storage Services Philippine mobile wallet Gcash is exploring adding cryptocurrency to its portfolio of financial products and services, The Philippine Star reported this week, adding that the platform has over 40 million users as of the end of April. Through the Gcash app, users can shop, save, invest, and get insurance coverage, among others. Gcash is operated by Mynt, a fintech startup partnership between Globe Telecom, the Ayala Corporation, and Ant Financial. The company’s key services include payments, remittances, and loans. Mynt CEO Martha Sazon said that the Gcash platform has four million registered accounts in Gsave and 1.4 million registered accounts in Ginvest as of the end of April. The executive said the company is looking into offering the buying, selling, and storing of cryptocurrencies, elaborating: While we may be considered a disruptor now, it is important in this digital age that we should be mindful of all types of disruptions out there. It’s important to know what the trends are, whether locally and globally and crypto is part of that. Sazon noted, “Just like in any introductions, you need a platform, a working business model, [and] a partner,” adding that the service could launch “as soon as those are satisfied.” A number of payments giants, including Paypal and Square, have embraced cryptocurrencies and allowed their users to buy and sell them on their platforms. Sazon further said that 40% of Filipinos now have a Gcash account and active users use the app more than twice a day. The CEO additionally shared that a third of the app’s monthly active users subscribe to at least one of the company’s financial services or products through the platform, emphasizing: We will continue to innovate and provide relevant and accessible financial services for all. What do you think about Gcash adding support for cryptocurrencies? Let us know in the comments section below. View the full article

Kalashnikov Group, the Russian firearms manufacturer, is ready to transition to settlements in digital currency. The announcement came from the international economic forum in Saint Petersburg where the central bank of Russia reaffirmed its intention to replace “dirty” and “infectious” paper cash with the digital ruble that’s currently under development. Russia’s Kalashnikov Concern Looks Forward to Adopting the Digital Ruble The leading Russian gunmaker, Kalashnikov Group, would like to switch to digital currency settlements, owner Alan Lushnikov said during the St. Petersburg International Economic Forum. The event held annually in Russia’s second-largest city gathers government officials and business leaders from well over 100 countries who discuss ways to overcome economic barriers between their nations and the Russian Federation. Quoted by TASS, Lushnikov stated: What we would expect the banking system to do is to switch to a non-banking system of settlements. Digital currencies are spoken about all the time. This is what we very much need. A digital currency system would not be linked to SWIFT, the international bank messaging network, and wouldn’t be controlled by bankers, emphasized Alan Lushnikov who has in the past served as deputy minister of transport. Russia, which is under Western sanctions over the annexation of Crimea and Moscow’s involvement in the Ukrainian conflict, has been threatened by the EU and the U.S. with disconnection from the interbank payment system. Dozens of central banks around the world are working on projects to issue national digital currencies, including those of China, the United States, and the Eurozone. Bank of Russia is preparing to unveil a prototype of the digital ruble towards the end of 2021. Commenting on the matter, its deputy governor Olga Skorobogatova said in December that the development of central bank digital currencies (CBDCs) can render obsolete traditional banking systems such as SWIFT. Digital Currency to Replace ‘Dirty’ Paper Cash, Central Bank Official Says Cash, as we know it today, is a fading technology, according to Skorobogatova’s colleague, First Deputy Chairman of the Bank of Russia, Sergei Shvetsov. Within a few decades, paper money will be considered marginal and will eventually be replaced by digital currencies, the high-ranking official said at the Saint Petersburg forum. He was quoted by TASS noting that cash is not just “dirty,” but can also spread infections, in the light of the ongoing Covid crisis: They say “dirty money,” but now it’s also infectious. Certainly, it’s just an obsolete technology. Shvetsov noted that the coronavirus pandemic has contributed to the abandonment of cash. In his opinion, even now paper banknotes are mostly used either to serve the “gray business,” or in the absence of alternatives allowing non-cash payments. “I think that someday, in 20 to 30 years, cash will be marginal. The digital ruble should replace it,” the deputy governor elaborated, stressing that the Bank of Russia is yet to take a final decision on the project’s future. And the speed of its development would depend on the “technological preparedness,” Shvetsov pointed out. What’s your opinion about central bank digital currencies? Share your thoughts on the subject in the comments section below. View the full article

AquaGoat is an ecological social cryptocurrency with a purpose: saving the planet’s oceans. AquaGoat aims to help fund and donate to initiatives focused on cleaning and protecting the planet’s oceans and waterways, all while generating income (yield-generation) and value to its holders. Since the project began on April 7, 2021, AquaGoat has donated to three charities: The Ocean CleanUp, an organization that develops new technologies to help rid the world of the ocean’s plastic; The Sea Shepherd Conservation Society, a group that engages in direct action campaigns to track down and stop illegal fishing enterprises; and The Blue Marine Foundation, a charity that directly addresses the environmental issues of overfishing. A little over $19,000 has been donated between all three charities so far with the intention of continuing to donate to more causes in the near future through their biweekly community polls and donation drives. What sets AquaGoat apart from a typical charity token? Their goal is to form long term partnerships with their beneficiaries – educating them on cryptocurrency, connecting investors to in-person volunteer opportunities with them, and setting them up to be able to receive residual income through their own AquaGoat crypto wallets for years to come. In addition to their community’s kind donations, AquaGoat has adopted a coral reef through the planting of 10 coral seedlings in the Bahamian Reef with the help of Coral Vita, an organization that spreads awareness towards the importance of coral reefs while investing in growing diverse climate resilient coral, as well as two dolphins from the Ocean Conservation Society, a group designed to conduct scientific research for ocean preservation. Between their charitable donations and their adoptions, AquaGoat also intends to spread awareness of the ongoing issue of climate change and how it affects our oceans, as well as the intricacies of the crypto market by hosting weekly education seminars. These education seminars will promote the value of investing in the crypto market while educating their audience about the wonders and important matters of ocean conservation. Since the launch of AquaGoat, their token has attained a massive following, growing to a network of over 270,000 holders, with over 4,000 followers on Reddit, 6,000 members on Discord, 12,000 Instagram followers, 17,000 combined members and followers on Facebook, 33,000 members in the community Telegram, and 48,000 Twitter followers (not including numerous international and multilingual channels, groups, and pages developed by community members to cater to their respective countries). Alongside their growing number of investors, the token’s community members, with the help of their dedicated administrative team, have fostered a great care for their inclusive following, all the while educating their new investors on the significance of oceanic preservation and wise crypto investing. AquaGoat is truly community-led, with a volunteer development team composed of about 35 people, five of whom make up the lead administrative team. Three of these lead administrators believe in the project so much that they resigned from their day jobs in order to work on AquaGoat full-time. At its core, AquaGoat operates as a deflationary automated liquidity-locking and self-staking direct distribution protocol. Every transaction using AquaGoat incurs a 4% fee; 2% of all transactions is sent to liquidity, while the other 2% is directly redistributed to all holders. As transactions are made over time, the amount of tokens in the burn wallet (which acts as a holder) increases, leading to an inflating burn rate with more network activity. Consequently, the circulating supply and holder redistribution decreases over time, incentivizing early buyers and longtime holders. In contrast to conventional cryptocurrencies such as Bitcoin or Ethereum, AquaGoat runs on the Binance chain, which operates on a Proof-of-Stake system where transactions are confirmed through a liquidity pool, as opposed to the energy-intensive Proof-of-Work system where transactions are verified through mining. Currently, AquaGoat’s donation wallet also acts as a holder and receives a portion of the 2% redistribution. In order to maximize automated charity allocation with each transaction, the token will be creating their own swaps, farms, staking, and lottery (planned for release in late July). Additionally, the Aquagoat software development team will begin rolling out applications beginning in June and have access to various APIs for internal bot and software developments. Some of these developments have already been implemented in the community Discord and Telegram. AquaGoat recognizes how harmful man made pollution can affect the world’s oceans, ecosystems, and marine life that inhabit it. With the support of their community and through their multiple charitable initiatives, AquaGoat continues to strive for continuous growth in their token, all the while making a substantial difference in the overall health of the ocean. At just over two months old, AquaGoat can already be purchased by interested investors on ten exchanges (with more in the pipeline coming soon): PancakeSwap, Coinsbit, SnowgeSwap, LBank, VNDC, BKEX, HotBit, ZT, Bibox and Bitrue. A step-by-step guide for brand new investors as well as more information about the project and the team behind it can be found at their website (https://www.aquagoat.finance/) This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

Pascal Blanque, CIO of Amundi, one of the biggest asset managers in Europe, has stated that bitcoin and other cryptocurrencies are a farce, exposing its skeptical stance on the real value of cryptocurrencies. The investor stated that crypto assets are an expression of markets making bubbles and that investors should focus on other more logical assets. CIO of Amundi States Cryptocurrencies Are a Farce Pascal Blanque has declared that bitcoin and similar cryptocurrencies are a farce during a recent news conference, according to a report from Reuters. The skeptic also said that cryptocurrencies were a clear symptom of a bubble-led market. Blanque, who has been CIO of Amundi and Head of the investment management platforms since 2005, was not shy in professing his incredulity when it comes to the new asset class that bitcoin and other cryptocurrencies have become. However, he did praise them due to the new paradigm these introduced to the economy, making central banks really feel the need for a digital push on their monetary strategies. In this subject, Blanque stated: “Bitcoin will be remembered for pushing central banks to adopt digital money,” He also referred to the fact that cryptocurrencies were still in their incipient stages, and that regulators would ultimately crackdown on them “stopping the music.” To Blanque, investors will be better at turning their attention to the east and diversifying their investments with more exposure to the Chinese currency, the yuan. Amundi, an asset management company with more than $1.7 trillion assets under management, has not expressed any interest in expanding its portfolio to include cryptocurrencies, and with Blanque at the helm of the investing strategy, it is unlikely they will do so in the near future. The Push for Digital As Blanque stated, cryptocurrencies are pushing more and more banks to issue digital currencies to complement their fiat counterparts, otherwise known as central bank digital currencies (CBDC). The European Central Bank (ECB) recently issued a warning about how these “artificial currencies” could affect the ability of central banks to control the monetary policy in an effective way. While the ECB is still studying better ways to issue a digital euro, there are other countries that have already implemented or are in the process of issuing their own digital currencies. This is the case of China and the Bahamas, which have already issued their digital fiat counterparts in broad testing applications, and many more countries are researching and issuing their first guidelines, like Brazil. What do you think about the stance that the CIO of Amundi has on cryptocurrencies? Tell us in the comments section below. View the full article

Localbitcoins, one of the biggest P2P exchanges in the world, has added Bitcoin Cash and other cryptocurrencies as payment methods to acquire Bitcoin on its platform. This marks a clear departure from the earlier position of the company, which hadn’t added new payment methods and had remained Bitcoin-only for some time. Localbitcoins Adds Bitcoin Cash and Other Cryptos Localbitcoins, one of the biggest P2P cryptocurrency exchanges in the world, is now allowing its users to purchase Bitcoin with other cryptos, in a departure from its earlier Bitcoin-only approach. The company announced in a blog post last week they will now allow listings leveraging Tether (USDT), Polkadot (DOT), Cardano (ADA), Bitcoin Cash (BCH), USD Coin (USDC), Chainlink (LINK), and Dogecoin (DOGE) as payment methods. The exchange also added several new fiat-based payment methods that can be used internationally, and others that can only be used in specific countries. The decision marks a clear departure from the traditional Bitcoin-only stance the company has had since its creation, and effectively creates the possibility for arbitrage with altcoin prices on the platform, albeit not as directly as in a traditional exchange. Localbitcoins is one of the first P2P exchanges and, apart from the strengthening of the KYC measures associated with the use of the platform, it has not changed much. Even the user experience and webpage have remained much the same since it began operation in 2012, and the platform still lacks a mobile app. Slow Innovation One of the reasons for this sudden change of heart could be the loss of relevance the exchange is facing in emerging markets like Venezuela, where the exchange has been moved from being the preferred way of buying bitcoin to just another good option in the market. Evidence of this is dwindling volumes of sales, which can be seen in Coin Dance statistics. This was also exacerbated by the arrival of a new P2P alternative market: Binance P2P, which is backed by the exchange, and has attracted many of Localbitcoins’ merchants and customers in the last two years. Further, other less privacy-invasive options have emerged, such as Bitcoin.com Local, where no KYC is required for direct P2P trade. Localbitcoins’ waning popularity might be just a sign of the times, as now there are tons of other ways to purchase bitcoin aside from direct, P2P exchange. However, P2P still has some key traits that make it the to-go method of acquiring cryptocurrencies for many, and Localbitcoins might be expanding its offer and payment methods to keep up with the requirements of its users. What do you think of Localbitcoins adopting new cryptocurrencies as payment methods? Tell us in the comments section below. View the full article

Regional reports disclose South Korea’s Financial Services Commission (FSC) had a closed-door meeting with roughly 20 different cryptocurrency exchanges on June 3. The report highlights that virtual asset business operators (VASPs) that attended the meeting all had ISMS (Information Security Management System) certification. South Korean Regulator Holds a Closed-Door Meeting With 20 VASPs A report stemming from D.Street who quoted undisclosed sources stated the South Korean FSC met with 20 “small and medium-sized exchanges in South Korea” to discuss the cryptocurrency environment. The insiders further noted that the exchanges could detail grievances to the financial regulator. ISMS certified exchange representatives who attended the meeting came from companies like Upbit, Bithumb, Korbit, Coinone, Kordax, Coinncoin, Tennten, Poblegate, and Flybit. The meeting was called the “Report Registration Guidance Consulting” and the report noted that only Upbit, Bithumb, Korbit, and Coinone have met the “real name” trading requirement. These four crypto exchanges are known as the “Big Four” in South Korea. D.Street highlighted that 16 small to medium exchanges expressed difficulties toward meeting the “real name” mandate. South Korean Citizens With Overseas Crypto Accounts Will Need to Report Holdings in 2023 Meanwhile, another report details that South Korea’s National Tax Service (NTS) revealed that residents with accounts to overseas crypto exchanges must report their crypto holdings to tax officials. The NTS noted that the overseas crypto rules will take effect on January 1, 2022, and people need to report crypto holdings by June 2023. The news follows the Financial Supervisory Service (FSS) being assigned to lead the cryptocurrency regulatory efforts in South Korea. Furthermore, regulators in South Korea have been concerned with the ‘kimchi premium’ on certain crypto assets in the country. What do you think about the closed-door meeting with 20 exchanges and the South Korean FSC? Let us know what you think about this subject in the comments section below. View the full article

PRESS RELEASE. Planetwatch, a French start-up which decentralizes and incentivizes environmental monitoring, announced that its utility token, PLANETS, will be listed on Bitfinex on June 4th. PLANETS are the first Algorand Standard Asset (barring stablecoins) to be supported on a major international exchange. Claudio Parrinello, PlanetWatch’s CEO said: “This is a major milestone for PlanetWatch. Less than 18 months after company creation, and despite the COVID-19 pandemic, we have managed to demonstrate that our Smart City as a Service solution, based on community sensor deployment and crowdsourced air quality data, can deliver business-grade data feeds in a fast and cost-effective way.” PlanetWatch revolutionizes the way we measure air quality by using the Algorand Blockchain, IoT-enabled sensors and AI-based data analysis. PlanetWatch incentivizes citizens to operate air quality sensors and earn token rewards for data streams. Sean Lee, CEO of the Algorand Foundation, said : “We are delighted to see Bitfinex support the PLANETS token. The PlanetWatch team have shown outstanding vision and innovation in creating their “Smart City”aaS concept and choosing to create their utility token ecosystem on Algorand’s sustainable, carbon negative blockchain network. We are excited to see the world discover the amazing potential of crowd sourced air quality monitoring and the PLANETS token.” PlanetWatch is focusing on air pollution, because it causes over 7 million deaths per year (source: WHO). In addition, recent studies provide evidence linking long-term exposure to air pollution with an increase in mortality from COVID-19 infection, as well as a significant risk of infection via aerosol in indoor spaces, where air quality can be a proxy for infection risks. PlanetWatch is strongly supported by high-profile partners such as Algorand, the Algorand Foundation and CERN, the leading physics research lab in the world, where the Web was born. As provider of environmental data, PlanetWatch was naturally led to partner with Algorand which provides a highly scalable, decentralized and secure blockchain which is also one of the “greenest” for energy consumption. As far as CERN is concerned, PlanetWatch is the only company in the global blockchain ecosystem to be an official “CERN Spin-off”. PlanetWatch’s network is growing very fast. It currently comprises approximately 700 sensors, mostly in Europe and the USA. Based on the current installation pipeline, the 1,000 sensor milestone will be reached in a few weeks. For more information on Planetwatch, visit https://planetwatch.io and for further information on Algorand, visit https://algorand.com. This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

The cofounder of Twitter and the CEO of the payments firm Square, Jack Dorsey, has revealed his firm is contemplating creating a bitcoin hardware wallet in collaboration with the community. Dorsey revealed this in a tweetstorm and said he wanted to share some “guiding principles” concerning this possible venture. Dorsey: ‘Square Is Considering Making a Hardware Wallet for Bitcoin’ On Friday, Jack Dorsey tweeted about the possibility of Square creating a bitcoin hardware wallet and discussed a number of principles the firm is guided by when approaching the subject. The founder of Twitter and Square explained that what the company creates needs to be “open,” as he noted that “bitcoin is for everyone.” “Square is considering making a hardware wallet for bitcoin. If we do it, we would build it entirely in the open, from software to hardware design, and in collaboration with the community,” Dorsey tweeted. “We want to kick off this thinking the right way: by sharing some of our guiding principles. Bitcoin is for everyone. It’s important to us to build an inclusive product that brings a non-custodial solution to the global market,” the Square CEO added. Dorsey then gave those who have already pioneered the noncustodial wallet space props, and asked his Twitter followers what the “biggest blockers to get a non-custodial solution to the next 100M people?” Numerous people answered Dorsey’s questions and a few responses discussed hardware wallets with no iOS support. “iOS support. Trezor, up until now, still doesn’t support iOS for (good reason.) If you solve this solvable problem, you gain a huge portion of the market,” one individual responded to Dorsey’s Twitter thread. “Custody doesn’t have to be all-or-nothing,” Dorsey continued. “We can probably simplify custody through ‘assisted self-custody.’ Assisted requires great product design: minimal setup time, relying on existing devices, and end-to-end reliability. How should we be thinking about assisted solutions?,” the Square CEO asked. He further added: Most people access the internet on mobile. Any solution we build must provide an excellent experience when using mobile, despite its shortcomings and liabilities. An uncompromising focus on mobile interaction is likely to include the most people. What are the dangers here? Dorsey Gets Heckled by a Conference Attendee in Miami After Dorsey published his thread with about 12 different points, he said that Square and his team plan to “continue the conversation.” He further noted that a dedicated Twitter account would be on the way and a Github repository, as well, if the firm decides to build a hardware wallet. “We’ll update this thread with that information when we’re ready. Thanks,” Dorsey concluded. Dorsey’s hardware wallet tweet has accrued tens of thousands of likes and retweets since he announced Square’s possible hardware wallet venture. The Twitter CEO also mentioned that layer 2 capabilities and Cash App integrations with the hardware wallet are also important guiding principles. JUST IN – Twitter's CEO Jack Dorsey heckled over censorship during an #Bitcoin event.pic.twitter.com/DmebShinG0 — Disclose.tv 🚨 (@disclosetv) June 4, 2021 Meanwhile, after the hardware wallet announcement, Dorsey attended the Bitcoin 2021 conference in Miami this weekend and was heckled by a conference attendee over “censorship” and “interfering in elections.” “Why is Jack Dorsey on a stage at a Bitcoin event in the first place?” an individual tweeted in response to the heckling video. What do you think about Square thinking about creating a bitcoin hardware wallet? Let us know what you think about this subject in the comments section below. View the full article

The governor of the Reserve Bank of India (RBI), Shaktikanta Das, has clarified the central bank’s position regarding cryptocurrency. His statements followed a notice published by the RBI telling banks that its crypto banking restriction is no longer valid and cannot be cited. RBI Still Has Major Concerns About Crypto RBI Governor Shaktikanta Das clarified the central bank’s position on cryptocurrency In a post monetary policy press meeting Friday. Emphasizing that “There is no change in RBI’s position” regarding cryptocurrencies, Das said: With regards to RBI’s position, we have major concerns about crypto currencies, which we have conveyed to the government. And, with regard to investors, it is for each investor to do his own due diligence and take a very careful and prudent call. This clarification followed a notice posted by the RBI telling banks that its April 2018 circular which banned banks from dealing with cryptocurrencies is no longer valid and cannot be cited or quoted. The circular was quashed by the Indian supreme court in March last year. However, several banks are reportedly still citing the circular as the reason to stop providing services to crypto businesses and traders. Governor Das continued: As you are aware, the supreme court set aside RBI’s circular issued in 2018 but it came as a surprise that some banks are referring to that circular in their correspondence with their customers. Therefore we had to set the record straight that the particular circular has been set aside so it is not at all correct to refer to that circular. HDFC Bank, a leading private bank in India with 5,608 branches and 16,087 ATMs, had been sending letters to its customers threatening to close their accounts due to crypto transactions. However, local media reported that the bank retracted its communication to customers after the RBI clarified its position. The bank also put out a report recently stating, “We think it is just a matter of time before Indian investors have legal access to crypto plays.” Meanwhile, the Indian government is still working on the country’s crypto bill. The existing bill, which was supposed to be introduced during the Budget session of parliament, proposes a ban on cryptocurrencies. However, the government is reportedly setting up an expert panel to re-evaluate the recommendations in the bill. What do you think about the RBI governor’s clarification on cryptocurrency? Let us know in the comments section below. View the full article

PRESS RELEASE. Shopping.io – Los Angeles, CA the premier crypto E-commerce platform will donate $50,000 to eToro’s flagship corporate social responsibility project GoodDollar, a non-profit initiative that distributes free crypto-based universal basic income (UBI) as part of its mission to onboard and educate the next billion digital assets users. Shopping.io’s $50,000 donation will be used to support the blockchain-based fund that sustainably mints and distributes digital basic income every day to more than 250,000 members in over 180 countries. GoodDollar stands apart for its scalable and sustainable approach to generating a crypto-based UBI, that leverages the principles of impact investing to enable financial supporters to earn rewards while using their crypto for good to fund a social project. Shopping.io’s $50,000 donation will be locked in the sustainable donation basic income fund, a smart contract that donates with all earned interest donated back to beneficiaries as basic income. This makes Shopping.io’s one-time gift a “sustainable donation” that will be used to create digital basic income, in crypto-asset GoodDollar (G$), for forever. Shopping.io is the first company to make a philanthropic donation to support the GoodDollar protocol: all funds will be used to fortify the basic income fund that benefits GoodDollar members, and not for operational expenses. Starting June 4th, GoodDollar members will also be able to spend their G$ tokens on Shopping.io’s E-commerce platform and make Amazon (US, UK, CA + DE), Ebay, and Walmart purchases using them. Through Shopping.io, GoodDollar members will now be able to use their GoodDollar tokens to shop for basic necessities and everyday items, marking a key milestone for the project and its members. Now, those who benefit the most from GoodDollar’s daily UBI distribution can spend their GoodDollars on toilet paper, toothpaste, emergency supplies, etc. on Shopping.io’s platform. The GoodDollar and Shopping.io collaboration has multiple synergies, with the $50,000 donation used to mint more GoodDollars, which then can be used on Shopping.io’s platform. “We are honored that the team at Shopping.io has recognized the critical role GoodDollar plays in advancing the digital assets market and onboarding millions of new users to digital assets who otherwise would be left behind. We are gratified by their generous donation, which will be used to fund free digital currency for generations to come,” said Yoni Assia, GoodDollar Founder and co-founder and CEO of eToro.com. “My hope is that it inspires other crypto-philanthropists, entrepreneurs and companies to use their crypto to advance more economic empowerment for all,” he said. The collaboration offers Shopping.io a unique introduction to the larger ecosystem of eToro and its customers, while doing good for GoodDollar’s members and the digital asset ecosystem at large. “We loved what GoodDollar was doing and wanted to help in any way we could, so we decided on this impact-driven model which I believe will bring a lot of benefit to both sides,” said Arbel Arif, Founder and CEO of Shopping.io. With a shared vision that e-commerce and consumption are critical pathways to drive crypto adoption towards the mainstream, Shopping.io and GoodDollar are thrilled to announce this partnership which has the potential to financially benefit the spending power of millions across the globe. About GoodDollar GoodDollar.org is a non-profit initiative driven to advance financial education and empowerment through free distribution of cryptocurrency. It does this via advancing the GoodDollar protocol, which uses free market forces to create a sustainable and scalable framework for a crypto-based universal basic income. Through creating a free, easy-to-access stream of digital currency GoodDollar offers real people a low-risk and free way to begin to experiment and benefit from digital assets. The project was founded by Yoni Assia, the co-founder and CEO of eToro, the social investment platform with over 20 million registered users. eToro has financed the GoodDollar project as part of its corporate social responsibility initiatives. About Shopping.io Shopping.io is the first INTERNATIONAL crypto E-commerce onboarding and fulfillment service. We are the bridge behind crypto and retail. Have the freedom in how you pay when you shop online using your favorite crypto currencies on the Shopping.io platform. We are the only company in Crypto that allows you to purchase from major e-commerce hubs on a global scale while revolutionizing how you purchase online with your Crypto. We believe in the power of giving the Crypto industry absolute freedom when it comes to E-commerce. Have the power to choose how you spend your Crypto with Shopping.io. To enjoy discounts and free international shipping you can purchase with Shopping.io native tokens $SPI and $GSPI. Both $SPI and $GSPI are utility tokens. https://beta.shopping.io/foundation This partnership marks a huge step forward between Shopping.io and the eToro ecosystem as we look forward to paying it forward to men and women in need worldwide. Twitter https://twitter.com/shopping_io Instegram https://www.instagram.com/shopping.io_official/ Telegram https://t.me/shoppingio Dicord https://discord.gg/4dG2bM2​ Facebook https://www.facebook.com/shopping.io Reddit https://www.reddit.com/r/Shopping_io/ Linkedin https://www.linkedin.com/company/shopping-io/ Tiktok https://www.tiktok.com/@shopping_io This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

Digital currency markets have slid in value over the last 12 hours as the entire crypto-economy has lost over 7% during the last 24 hours. Bitcoin attempted to cross the $40k handle but was stopped at $39,490. Since then, bitcoin has dipped 7.3% during the early morning (EST) trading sessions on Friday. Bitcoin $40K Attempt Stopped Short, Crypto Prices Remain Range-Bound Bitcoin (BTC) is down today after trying to surpass the psychological $40,000 region but was stopped short. BTC is down more than 7.3% today and is currently swapping for $35,890 per unit. The leading crypto asset BTC lost some steam after Elon Musk tweeted about the digital currency on Twitter by sharing some memes and a broken heart emoji. BTC/USD on Friday, June 4, 2021. 30 day stats show BTC is down 36% while three-month stats show bitcoin (BTC) has lost over 25%. The leading crypto asset’s all-time high above the $64k handle took place around two months ago. ETH/USD on Friday, June 4, 2021. The second-largest crypto asset in terms of market valuation is ethereum (ETH) which is swapping for $2,576 per unit at the time of publication. Down more than 8% on Friday and down 26% during the course of the last month. Global trade volume among all 9,000+ crypto-assets in existence has slipped 5% during the last 24 hours and there’s $76.21 billion in global trade volume. Friday’s biggest gainer is tokenomy (TEN) which is up 139% during Friday morning’s trading sessions and cube (AUTO) is today’s biggest loser with a loss of more than 60%. Data from Into the Block analytics shows that BTC prices are just above support. “The IOMAP reveals that 1 million addresses had previously bought approximately 570K Bitcoin at a price of around $35,600,” researchers from Into the Block note. “Due to the large buying activity around this area, there is expected to be strong support from new buyers and current holders. Were this level to fail, then a drop to $32,000 is likely,” the researchers added. The Into the Block team notes that BTC may stay consolidated for some time. “Due to the high concentration of volume currently near price, it is likely that price may continue range-bound, unless there is a major catalyst in either direction,” the researchers detail. “Finally, it is probable that a breakout in either direction for bitcoin will lead the rest of the crypto markets along.” What do you think about the current state of markets today and where do you think bitcoin and the other digital asset prices are headed? Let us know what you think about this subject in the comments section below. View the full article

The price of the leading cryptocurrency took a hit after billionaire Elon Musk mentioned Bitcoin in a new tweet hinting at a breakup. Musk’s latest crypto post, featuring a broken heart emoji and a reference to a Linkin Park song, effectively halted this week’s market rebound. Musk Tweet Pushes Bitcoin Price Down Before the Weekend Famous entrepreneur Elon Musk has added another tweet to a string of social media posts that have deeply affected cryptocurrency markets over the past few weeks. Reasserting his role as a market influencer, this time Musk trolled Bitcoin with a hint at a possible split with the leading crypto that he has been targeting lately. #Bitcoin 💔 pic.twitter.com/lNnEfMdtJf — Elon Musk (@elonmusk) June 4, 2021 In another enigmatic tweet, Musk wrote “#Bitcoin” adding a broken heart emoji and a meme of what looks like a couple discussing their breakup. The text accompanying the picture is a reference to the lyrics of “In the End,” a popular song by American rock band Linkin Park. Musk later posted a comic strip depicting a different separated couple. Following the tweet, the price of bitcoin (BTC) dropped by over 3% early on Friday to well under $38,000. After further losses, the cryptocurrency with the largest market cap was trading below $37,000 per coin at the time of writing. The drop put an end to the recent stabilization which saw the BTC price heading towards the 40k mark this week. Tech Tycoon Elon Musk is Back Trolling Bitcoin Elon Musk’s business decisions and social media comments have boosted crypto markets in the past as was the case with Tesla’s $1.5 billion investment in bitcoin in February as well as his shilling of dogecoin. However, the billionaire’s attitude towards the leading cryptocurrency has been changing over time. In early May, he tweeted that his electric car company was suspending BTC payments for its vehicles, citing environmental concerns due to “rapidly increasing use of fossil fuels for bitcoin mining.” The crypto-economy lost billions of dollars following the announcement. The move sparked negative reactions from the crypto community and Musk’s heated discussions with its members on social media led to speculation that Tesla may have sold its bitcoins or might be planning to do so. Its founder and chief executive later clarified that the EV manufacturer “has not sold any bitcoin.” Following the clash, Musk embarked on promoting renewable energy usage in the mining industry and Tesla stated intentions to use bitcoin as soon as mining transitions to more sustainable energy. Musk’s comments and actions have reverberated beyond the crypto space. Miami Mayor Francis Suarez was recently quoted by CNBC as saying that the tech tycoon has highlighted an issue with bitcoin that reduces its utility as a financial asset. Suarez, who describes himself as a “big fan of Elon Musk,” suggested that one person being able to move bitcoin’s price by 20% with a single tweet is a problem showing that the crypto needs larger transactional volume and more stability to be used as a hedge against fiat currency. What do you think about Musk’s latest tweet regarding Bitcoin? Let us know in the comments section below. View the full article

Thanks to its high volatility and price momentum, cryptocurrency is an increasingly popular asset class amongst retail day traders. CFDs that track price changes in major tokens make cryptos even more accessible for investors without the steep learning curve that traditionally accompanies cryptocurrencies. Fewer Obstacles Attract Investors to Products That Mirror Cryptos 1-to-1 Over the last year, the resurgent popularity of cryptocurrencies, which has closely tracked the appreciation in major coins, has managed to drive more awareness and engagement than the previous adoption wave, demonstrating cryptos staying power. Besides drawing enormous attention to the space, more consumers than ever before are using cryptocurrencies as a means of transacting. For eager traders, cryptocurrencies’ opportunity is evident due to their volatile characteristics and rapid price swings. Unlike traditional asset classes like stocks, bonds, foreign exchange, or commodities, cryptocurrencies often make double-digit percent-based movements intraday, making them an exceptional tool for speculators and day traders attempting to capitalize on sharp market swings. Still, just like engineering a car requires mechanical savvy, climbing aboard the blockchain train demands a serious learning curve. Between setting up wallets, learning the difference between private keys and public addresses, and the process of sending or receiving cryptos, the volume of reading that these processes entail are considerable. Many companies are rising to the occasion to make cryptocurrency more accessible through the streamlined use of these products. Popular companies like PayPal now offer customers in select locations the opportunity to buy, sell, hold, and transact in cryptocurrencies with eligible merchants. In other areas, brokerages like Robinhood now offer the capability to buy and sell crypto within accounts. The beauty of these developments is that cryptocurrencies have never been more available and straightforward. Yet, there are drawbacks. Investors can buy, sell, and hold, but ultimately they have no other utility. In effect, these holdings represent mere IOUs. Because individuals who hold these cryptos in their accounts don’t hold the private keys, the hardcore Bitcoin community will be quick to note that these investors don’t have ownership over actual coins. Although both Robinhood and PayPal have promised to expand the supported services gradually, they remain mere announcements that haven’t fully materialized. Accordingly, CFDs present a far better alternative for those traders that wish to gain exposure to the asset class without the fuss of learning how wallets and other blockchain infrastructure works. CFDs: Answering The Calls for Lower Infrastructure Demands Contracts for difference, or CFDs for short, are a derivative product that effectively tracks the price changes of an underlying asset. They became popular among retail brokerages and even institutional clients seeking a frictionless way to trade more traditional assets like stocks and bonds without geographical restrictions. Now, the same model has been applied to cryptocurrencies. Because CFDs eschew the infrastructure to offer cryptocurrencies relative to centralized exchanges like Coinbase that must provide hot and cold wallet infrastructure alongside robust cybersecurity measures, they have become increasingly popular instruments among online brokerages. Nearly any brokerage platform that already offers CFDs can rapidly add cryptocurrencies in the same form, improving the value proposition for existing clients. For clients, the advantages are very evident. Besides the easy on and off-ramp for their fiat currencies, the ability to settle trades in cash instantaneously poses excellent value for short-term traders capitalizing on volatility. Moreover, more online brokerages like easyMarkets accept cryptocurrency as a method for depositing and withdrawing funds, or even denominating trading account values, just like any fiat currency. While those who Hodl may be better suited to centralized or decentralized crypto exchanges, an online brokerage can deliver these products, often with modest leverage and extremely low transaction fees, to an existing client base seeking access to these novel offerings. When Ethereum gas fees and centralized exchange fees are so substantial, this translates to real value for traders seeking to enter and exit the market quickly. Best of all, these activities can take place in a highly compliant environment, making it essential to select a regulated online brokerage to handle these trades. Even if traders don’t directly own the underlying crypto, a trusted exchange issuing CFDs can provide a seamless experience that translates to real value for customers seeking these products. Although the crypto traditionalists will be quick to jump on the custody issue, the reality of an ecosystem that doesn’t demand a steep learning curve represents a compelling value proposition that attracts more attention to cryptocurrencies, ensuring their long-term longevity and staying power. What do you think about crypto CFDs? Let us know what you think about this subject in the comments section below. View the full article

The governor of Ghana’s central bank, Ernest Addison, has said his institution is now “in the advanced stages of introducing a digital currency.” However, before its release into circulation, the digital currency—which is also known as the “e-cedi”— will first have to go “through three phases.” Bank of Ghana’s Embrace of Emerging Fintechs In his comments during a news conference on May 31, Addison also reiterated the Bank of Ghana (BOG)’s desire to maintain its reputation as Africa’s leader when it comes to embracing emerging financial technologies. Ghana’s central bank governor, Ernest Addison. “The Bank of Ghana was one of the first African Central Banks to declare that we were working on a digital currency looking at the concept of an e-cedi,” revealed Addison. Meanwhile, one local media report quotes the BOG chief explaining the key phases which the digital cedi is expected to pass through before its release to the public. As Addison notes, the digital cedi has already gone through the initial phase which involved “the design of the electronic money.” Once this process is complete, the BOG will then move to the implementation stage. Addison explained: After the implementation phase, we have a pilot phase where a few people would be able to use the digital cedi on the mobile applications and other applications that are currently running. According to the governor, it will be this implementation stage that will help the central bank to determine the feasibility of the project. BTC vs E-cedi Meanwhile, Addison also used the same news conference to draw comparisons between the “unregulated” cryptocurrencies like bitcoin (BTC), which is “too volatile to play the function of money” and the state-backed cedi. Reiterating his backing central bank digital currencies, Addison said: “I think there is a lot more emphasis on looking at digital money which is backed by the state, backed by the central banks. These private forms of money really are not able to perform the functions of money effectively.” In the meantime, with this revelation, Ghana becomes one of the few countries on the African continent to take concrete steps towards this goal. Many other African states are yet to make similar progress. What are your thoughts on the BOG’s revelation that it is now in the advanced stages of introducing a digital currency? Tell us what you think in the comments section below. View the full article

PRESS RELEASE. With cryptocurrency adoption increasing in the Philippines, Filipino users are looking for ways to convert their digital assets into cash at an affordable rate. The Central Bank of the Philippines has recorded P76 billion (US$ 1.5B) worth of transactions processed by local virtual currency exchanges (VCEs) in 2020, which is five times higher than the transaction volume in 2019. Moneybees, the pioneer of over-the-counter crypto (OTC) exchange in the Philippines, is changing the face of crypto transactions as it enables both OTC and online transactions to exchange cash and cryptocurrencies on the spot more conveniently. With Moneybees, cryptocurrency holders can convert their digital assets into cash without fees and get the funds within 10 minutes. WHAT IS MONEYBEES? Moneybees allows you to buy and sell major cryptocurrencies such as bitcoin and Altcoins like Ethereum, USDT, Chainlink, Uniswap, among others, at government-licensed Moneybees Partner Outlets without having to go through an online exchange. MONEYBEES IS MAJOR ADVANTAGE TO: Foreigners who don’t need to open a Philippine online exchange account just to encash their bitcoins. Online traders who use exchanges that don’t have a PHP cash-in and cashout feature. OTC is also perfect for newbie traders who want to transact with a real person to establish trust. Overseas Filipino Workers Remittance has often been a serious problem for OFWs. Cryptocurrencies like Bitcoin make it simpler to transmit money to your loved ones that are devoid of hefty transaction fees. Thanks to its flexibility and affordability, OFWs, local recipients, and merchants alike grew to adopt its usage. If you are an OFW, you can create a crypto wallet and buy and store crypto there. After that, you can send that crypto to your loved one’s crypto wallet. Your loved ones can then exchange the crypto into cash in any of the Moneybees OTC outlets within Metro Manila. WALLET-WALLET AND BANK-TO-BANK TRANSACTIONS: Moneybees makes it simple to exchange crypto and Philippine Peso (PHP) BUYING CRYPTO: You hand over the payment, Moneybees sends the crypto directly to your preferred crypto wallet. SELLING CRYPTO: You send your crypto to Moneybees, and you receive Peso in cash or directly to your bank account. This makes Moneybees the best way to cash in and cash out of your online crypto exchange account. You skip the fees and the hassle. KEY FEATURES: EASY – Buy and sell virtual currencies, just like how you buy and sell foreign currencies in a physical money exchanger store. SECURE -Transact face-to-face with Moneybees trusted partners to give you the peace of mind that your transaction will surely be completed before leaving the shop located in Malls and Casinos. COMPLIANT – Moneybees only partners with businesses with government-required licenses to ensure your transactions are safe and secure. Moneybees is duly registered with the Central Bank of the Philippines and the Anti Money Laundering Council (AMLC) as a Remittance Agent with Virtual Currency Exchange (VCE) services. HIGH LIMIT – Customers have a higher daily limit which is up to Php 5 million (US$ 100,000) per day. BUY AND SELL REMOTELY VIA ONLINE TRADING DESK Due to the closure of malls and other non-essential establishments, Moneybees has launched an Online Desk to serve its loyal customers continually. You can go to https://www.moneybees.ph/. Find the chat box and send a message to Moneybees customer service. They will facilitate your transaction of buying and selling crypto. Proceeds will be either sent to your bank (when you are selling) or to your preferred crypto wallet (if you are buying) such as Bitcoin.com, Binance wallets, among others. FIND MONEYBEES IN THE FOLLOWING OUTLETS: Monteal Money Changer Mondays to Saturdays: 10am-6pm 3/F Venice Grand Canal Mall, Mckinley Hill, Taguig City 2. Psulit Money Changer Mondays to Fridays: 10am to 7pm Saturdays, Sundays and Holidays: 10am to 6pm Unit 11-D ground floor, Intrepid Plaza C-5 corner Eastwood Avenue, Bagumbayan, Quezon City 3. Willyn Villarica Jewelry Mondays to Saturdays: 11:30 am to 5:45 pm Sundays and Holidays: Closed Stalls 335/336, 3rd Floor, Market Market, BGC, Taguig 4. Erus Maerd Pawnshop and Money Exchange Wednesdays to Saturdays: 10:00 am-9:00 pm G/F Newport Mall, Resorts World Manila, Pasay City 5. Tivoli Money Exchange – Glorietta Store Hours: 10:00 A.M. – 7:00 P.M. B1, Glorietta 2, Ayala Center, San Lorenzo Village, Makati City, 1224 Metro Manila 6. Tivoli Money Exchange – Trinoma Store Hours: 10:00 A.M. – 7:00 P.M. M1, Trinoma, EDSA corner North Avenue, Quezon City, 1105 Metro Manila 7. Tivoli Money Exchange – Okada Manila (VIP Area) Store Hours: 24-Hours. Retail Unit A-23, Upper Ground Floor, Okada Manila, New Seaside dr., Parañaque City, 1701 Metro Manila Learn more about Moneybees— https://www.moneybees.ph/ Follow on Facebook — https://www.facebook.com/moneybeesofficial/ Find on Instagram — https://www.instagram.com/moneybeesofficial/ 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

A recent study published by Gambler’s Pick notes that Gen Zers are less likely to invest in traditional investments like equities and more likely to invest in cryptocurrencies, meme investments, and non-fungible tokens (NFTs). Gen Z More Likely to Invest in Cryptocurrencies and Meme Investments Than Stocks and Common Assets The web portal gamblerspick.com published a study at the end of April that highlights the investment choices of Gen Zers. Generation Z or Gen Z for short is a demographic that succeeds Millennials. The group colloquially known as “zoomers,” were born between the mid-to-late 1990s and up until the early 2010s. The Gambler’s Pick survey notes that Gen Zers are more apt to invest in cryptocurrencies and NFTs over traditional stocks. The survey polled 872 people and 24% of the group represented Gen Z and 27% were Millennials. “25% were Gen Xers, and 24% were baby boomers or older,” the Gambler’s Pick study adds. Some key findings noted that Gen Z likes collectives but is still more likely to invest in stuff like sneakers and clothes. Interestingly, the Gen Z crowd noted why they were investing and they mentioned fighting back “against institutions” and to “participate in a movement.” With things like meme assets, cryptocurrencies, and NFTs at the forefront of investment, Gambler’s Pick says that zoomers deal with high-risk investments better than older generations. “Baby boomers (and older respondents) tended to prefer to be a little safer with their investments,” the Gambler’s Pick researchers detail. Rather than technical analysis and stock fundamentals, Gambler’s Pick said Gen Z would rather take “tips and opinions” from Reddit, social media, and family and friends. Lastly, the study with 872 respondents shows that zoomers believe that markets are manipulated and high-net-worth individuals and institutions rule the roost. “Generally, baby boomers (and older) were a little more skeptical of these theories, but the younger generations were pretty sure there’s some truth behind them,” the study’s researchers concluded. What do you think about Generation Z liking cryptocurrencies, memes, and NFTs over traditional investments like stocks? Let us know what you think about this subject in the comments section below. View the full article

Many companies operating with cryptocurrencies are not meeting anti-money laundering regulations, the U.K.’s Financial Conduct Authority revealed. The government agency has extended its temporary registration scheme after facing a growing number of crypto firms that are withdrawing their applications. FCA Extends Temporary Registrations Regime Till End of March 2022 The Financial Conduct Authority (FCA) announced Thursday it’s extending the end date of the Temporary Registrations Regime (TRR) for crypto businesses to March 31, 2022. The regulatory body pointed out that a “significantly high number” of companies are not meeting current anti-money laundering (AML) requirements which have resulted in “an unprecedented number” of entities withdrawing their applications. In a statement published on its website, the FCA noted: The extended date allows cryptoasset firms to continue to carry on business while the FCA continues with its robust assessment. Last year, the financial regulator said that all businesses trading cryptocurrencies on Jan. 10, 2020, are subject to the country’s updated Money Laundering Regulations. Initially, they were required to register with the FCA by Jan. 10, 2021. Later on, the compliance deadline was moved to July 9 and the TRR scheme was introduced to allow cryptocurrency firms that applied for registration before Dec. 16, 2020, to continue to work while their applications are still being processed. Brits Warned FCA Does Not Have Consumer Protection Powers In this week’s announcement, the FCA explains that Britain’s anti-money laundering and counter-terrorist financing legislation is tailored to protect against “enabling the transfer and disguise of funds from criminal activity, or funding of terrorist groups.” The agency, which operates independently under the U.K. government, further stated: While this is not the only element that the FCA will assess in relation to an applicant, the FCA will only register firms where it is confident that processes are in place to identify and prevent this activity. Crypto assets are highly speculative and prone to losing value quickly, the financial authority warned, emphasizing that it has not been granted powers to provide consumer protection for the activities of British crypto companies, even when they are registered with it. If consumers invest in cryptocurrencies, they should be prepared to lose their money, the FCA added, stressing it is unlikely that they will have access to the Financial Ombudsman Service or the Financial Services Compensation Scheme. Why do you think some crypto companies are not meeting Britain’s AML regulations? Share your thoughts on the subject in the comments section below. View the full article

According to a recent study, non-fungible token (NFT) sales have dive-bombed 90% since the market’s record sales on May 3. Market data shows over 130,000 NFT sales that day and 30 days later sales are down to a touch over 84,000, dropping more than 35% last month. Protos.com Study Claims ‘NFT Bubble Has Popped’ Non-fungible tokens (NFTs) have been all the rage in 2021 and sales continue to this day. However, a recent study published by protos.com indicates that NFT sales have been dropping and NFT sale values have plummeted as well. The report shows that last month $102 million in NFTs were sold on May 3 and the latest seven-day data shows only “$19.4 million in NFT sales were processed in the past week.” The protos.com study shows the NFT ecosystem saw a 90% drop from the May 3 high and only a few projects are continuing to sell. Weekly data via nonfungible.com Currently, projects like Cryptopunks and Hashmasks have been able to sustain sales, and market statistics from nonfungible.com reflect this fact. 30-day stats from nonfungible.com indicate there were 84,645 sales worth $134 million. Over 52,000 were primary sales and more than 32,000 were secondary sales. Monthly data via nonfungible.com The study also shows that the number of active NFT wallets has slid from 12,000 per day to 3,900, which is a loss of close to 70%. Other top NFT sales stemmed from Sorare, Meebits, Decentraland, Superrare, and the Sandbox. One Meebit NFT sold for $2.6 million last month while a single Cryptopunk sold for $1.4 million. Four other Meebit NFTs below the recent Cryptopunk NFT sale, sold for $1 million each. In the last seven days Cryptopunks has seen more than $4.8 million in 79 unique sales. Meanwhile, Sorare data is different, with $2.4 million in weekly sales but across more than 10,000 sales. The stats from the protos.com study give the publication the opinion that the NFT bubble has popped and the report’s author concludes by highlighting this subjective valuation. “All things considered, the data suggests the NFT bubble lasted just four months — and it popped about this time in May,” the researcher from protos.com writes. What do you think about the NFT study and protos.com saying the NFT bubble has popped? Let us know what you think about this subject in the comments section below. View the full article

The digitization of traditional currencies like the euro has the potential to increase their international appeal, the European Central Bank says in a new report. A failure to offer a digital currency would endanger financial stability, ECB warns. The regulator is concerned about the prospect of tech giants dominating payments through their “artificial currencies.” Eurozone’s Central Bank Reviews Role of Euro in Light of CBDC Project The global appeal of fiat currencies depends on economic fundamentals, but some characteristics of digital money could promote their adoption beyond the issuing jurisdiction, the European Central Bank (ECB) has noted in a recent review of the international role of the euro. Specific design features can also incentivize non-residents to use a digital euro as a means of payment, unit of account and store of value, the regulator says. Safety is a key feature, the bank points out, as a central bank digital currency (CBDC) would be a claim on the balance sheet of the issuer and could mitigate the risks associated with traditional cross-border transactions that involve correspondent banking. A CBDC would also bring lower transaction costs, expanding access to payment services and lowering mark-ups of intermediaries. Remittance transfers, for example, could become more efficient. The central bank of the Eurozone believes that a CBDC could also partially or fully act as a substitute for unstable national currencies in countries with weak economies, becoming a local means of payment, a savings vehicle, and ultimately the unit of account. A digital currency would facilitate the use of electronic invoices, receipts, identities, and signatures. End-users could benefit from access to products competing with those offered by big tech companies. ECB Worried About Foreign Tech Giants Dominating Payments The European Central Bank emphasizes that a CBDC would help to maintain the autonomy of domestic payment systems. A failure on the part of a central bank to offer a digital currency, on the other hand, would entail risks to the stability of the financial system. The authors of the CBDC section of the report, Massimo Ferrari and Arnaud Mehl, warn: One concern could be a situation in which domestic and cross-border payments are dominated by non-domestic providers, including foreign tech giants potentially offering artificial currencies in the future. Companies like the global social media platform Facebook have been working to develop their own native currencies, the popularity of which could quickly increase due to their large customer base. According to the economists, “Not only could this threaten the stability of the financial system, but individuals and merchants alike would be vulnerable to a small number of dominant providers with strong market power.” Ferrari and Mehl think that the “ability of central banks to fulfill their monetary policy mandate and role as lender of last resort would be affected.” The study, which was published Wednesday, also explores alternative design choices for a digital currency, noting that specific features would determine the global outreach and the international role of the currency in which a CBDC is denominated. Among these features are interoperability with non-domestic payment systems, restrictions on use by non-residents, user anonymity, and the underlying mechanism for online as well as offline transfers and settlements. “A digital euro could contribute to strengthening the global appeal of the euro, but would not change the fundamental forces that define international currency status” such as stable fundamentals, size of the issuing economy, and liquidity of financial markets, the report concludes, noting the importance of cooperation with other central banks in the G20 format. The ECB is yet to initiate a digital euro project. Officials have previously indicated that the Governing Council’s decision is to be expected around mid-2021. Dozens of nations are already working to issue CBDCs, including China, the U.S. and Russia. What’s your opinion about central bank digital currencies? Share your thoughts on the subject in the comments section below. View the full article

The cofounder of Ethereum, Vitalik Buterin, recently discussed the highly anticipated full transition from a proof-of-work (PoW) consensus model to proof-of-stake (PoS) as its replacement. Buterin admitted at Hong Kong’s Startmeup HK 2021 Festival that the transition was taking too long and highlighted that it wasn’t technical problems but “related to people.” Buterin: ‘If You Build a Team, It Is Important to Know Who You Are Working With Vitalik Buterin has discussed the anticipated Ethereum 2.0 transition during the Startmeup HK 2021 Festival in Hong Kong this past week. The Ethereum cofounder detailed that he understood the changes were taking a long time and said that it was mostly people deterring the improvements. “One of the biggest problems I’ve found with our project is not the technical problems, it’s problems related with people,” Buterin said during his interview with Forkast news. “Ethereum is now in a better economic position, but it took us five years to get to where we are now. We have a lot of internal team conflicts in these five years. If you are building a team, it is important to know who you are working with.” When Buterin was asked about Ethereum 2.0, he said that the developers have been calling it by that name less and less these days. “We actually call it Ethereum 2.0 a bit less because we want to emphasize that, this isn’t throwing out the existing Ethereum platform and making a totally new one. It’s a much more kind of incremental set of changes,” the programmer remarked. Scalability and Proof-of-Stake Are Important Says Ethereum Cofounder Buterin further said that sharding and rollups would greatly improve the scalability of Ethereum by a factor of 50 to 100. “The two of them stack on top of each other so once you have rollups and sharding, Ethereum and things on top of Ethereum will actually be able to have the kind of scalability that the large scale enterprise applications are expecting,” Buterin told the video host. Buterin then explained that there’s a lot of people building and said that the transition to PoS will be important going forward. Buterin stressed: There’s a lot of other things that people are building in the Ethereum space, but the blockchain’s ability to handle all the transactions is having a hard time keeping up with the demand, which is exactly why all of these things that we’re working on the technology side with scalability and proof of stake are so important. During the end of the interview, Buterin’s conversation grazed up on decentralized finance (defi) and the non-fungible token (NFT) space. The Ethereum cofounder expects the defi ecosystem to continue evolving, and he sees some unique applications coming in the future. “The functionality and programmability that crypto and defi provides could eventually provide the tools to do a lot of much more interesting things,” Buterin noted. What do you think about Buterin’s statements about people difficulties rather than technical difficulties concerning the Ethereum 2.0 upgrade? Let us know what you think about this subject in the comments section below. View the full article