roadrunner

PRESS RELEASE. ESTONIA — MARCH 8, 2021 — YIELD App, the DeFi wealth management platform bridging traditional and digital finance, is pleased to announce the launch of its Ethereum fund, allowing users to earn high-interest returns on their Ether (ETH). Following a successful public launch and token listing (YLD), YIELD App can now offer its users up to 20% APY on their ETH and stablecoins. Ethereum deposits will be gradually open to YIELD App users over the next several days. The platform now accepts deposits of USDC, USDT, ETH, and YLD. YIELD App has seen notable progress since the public launch of its web application on 12 February 2021. Over 10,000 users have already registered, helping the platform reach more than USD $5 million AUM. Currently, over 33 million YLD tokens are held in YIELD App wallets – accounting for over 30% of the current supply – and more than 500 users have “Tier 5” accounts (20,000+ YLD), granting them a 10% APY boost. Designed for both the retail and institutional market, YIELD App accommodates the needs of investors interested in digital asset classes while also allowing crypto veterans to capitalize on DeFi’s incredible opportunities without navigating a sea of complex protocols. DeFi is powerful, and YIELD App serves as a gateway for users to benefit from DeFi’s high-interest yields while keeping their funds secure and protected. The new Ether fund enables users to now receive the same high-interest yields of the DeFi Alpha Fund I without selling the world’s second-biggest cryptocurrency by market cap. “Ether is the backbone of decentralized finance, and many consider it the most important cryptocurrency in the world,” says Tim Frost, CEO of YIELD App. “We want to provide people with the opportunity to earn high interest on their Ether without selling the asset that allowed DeFi to emerge and could very well be the home to the future of global finance. This is an important milestone on our roadmap and a great development for our client base, who are looking for more ways to passively earn on crypto assets they want to hold long-term.” Decentralized finance (DeFi) refers to a breadth of financial instruments and tools built on top of blockchains like Ethereum. DeFi removes the middleman from the equation and provides equal access and opportunities for everyone by using technology that is open, transparent, and immutable. Many of DeFi’s most popular protocols have taken familiar aspects of conventional finance (such as borrowing, lending, and insurance) and rebuilt them from the ground up, all powered and possible through blockchain. DeFi has continued to set new records this year. Since 1 January 2021, DeFi’s total value locked (TVL) has climbed from USD $15 billion to $35 billion, a 233% increase. DeFi’s growth has been spectacular, but accessibility has hampered mainstream adoption. YIELD App bridges the divide by building a DeFi-powered service that is intuitive, secure, and backed by DeFi’s most innovative protocols. In the near future, YIELD App will launch additional funds, fiat ramps, in-app token swaps for each token pair, and card services. About YIELD App YIELD App believes that everyone should have access to the best investment opportunities. YIELD App’s mission is to unlock the full potential of DeFi and make it available to the world. To achieve this, the company provides an innovative platform that bridges traditional and decentralized finance in the easiest way possible. For more information, visit yield.app. 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

Sohrab Sharma, a co-founder with the now-defunct Florida cryptocurrency firm, Centra Tech, has been sentenced to eight years in prison after he pleaded guilty to charges of duping investors via a fraudulent initial coin offering (ICO). Additionally, the court has ordered Sharma to forfeit $36,088,960. Material Misrepresentations Prior to Sharma’s sentencing, the U.S. Department of Justice (DOJ) similarly announced the jailing of Robert Joseph Farkas, another mastermind of Centra Tech. Both Sharma and Farkas are accused of using fabricated business relationships with legitimate institutions to dupe investors. In a statement, Ilan T. Graff, the Attorney for the United States, said Sharma had “led a scheme to deceive investors by falsely claiming that the start-up he co-founded had developed fully functioning, cutting-edge cryptocurrency-related financial products.” “In reality, Sharma’s most notable inventions were the fake executives, fake business partnerships, and fake licenses that he and his co-conspirators touted to trick victims into handing over tens of millions of dollars. We will continue to aggressively pursue digital securities frauds like this one,” remarked Graff. In a document filed with the Southern New York District Court in 2018, investigators accused Sharma of using “material misrepresentations” about Centra Tech and its purported partnerships with Bancorp, Visa and Mastercard. Compensation for Centra Tech Victims In addition to the fake profiles and “claims that Centra Tech had money transmitter and other licenses in 38 states,” the masterminds also used celebrities like DJ Khaled and Floyd Mayweather to promote the scam. As reported by news.Bitcoin.com, Mayweather and Khaled were subsequently fined for their role in promoting the scam. Meanwhile, after the end of the ICO, Centra Tech held digital assets which were then worth more than $25 million. According to Graff, the FBI would seize the digital assets in 2018 which were then equivalent to 100,000 ETH. Later, “the United States Marshals Service sold the seized ether units for approximately $33.4 million earlier this year.” With respect to the seized funds, the DOJ said, “these funds and other forfeited fraud proceeds will be available for potential use in a remission program that the Department of Justice intends to create to compensate victims of the Centra Tech fraud.” What are your thoughts on the United States’ jailing of ICO scammers? Tell us what you think in the comments section below. View the full article

Ever since Tesla announced the company held $1.5 billion in bitcoin on its balance sheet during the first week of February, the company’s stocks have dropped over 30%. One analyst says that Tesla’s shareholders would be “very supportive” if the company announced it would sell the bitcoin. Additionally, the shares of Microstrategy’s firm have also dropped considerably during the last 30 days, after multiple bitcoin treasury purchase announcements. Critics Say Tesla Should Sell Bitcoin After Tesla announced to the world that there was $1.5 billion worth of bitcoin (BTC) on its balance sheet, the price of BTC shot up considerably that day. However, 30 days after the fact, it seems shareholders of Tesla (NASDAQ: TSLA) are not so hip to the idea. Furthermore, on social media and forums, critics and even lawyers, have called out companies like Tesla for making such decisions. Tesla shares have not fared so well since the purchase, even though the firm did profit nicely from BTC value increase. The day the Tesla-bitcoin announcement went viral, shares of TSLA were swapping for $863 a unit. Today, TSLA is down -30.82% and exchanging hands for $597 per share the day before Monday’s stock market opening. The former CEO of Aegon Asset Management, Gary Black, discussed Tesla’s bitcoin holdings on Twitter three days ago and said shareholders would likely be pleased if Elon Musk’s company sold the BTC. “Imagine the positive momentum [Tesla] would create,” Black tweeted. “If they announced the sale of their [bitcoin] position, and authorized a [Tesla] stock buyback instead. Highly unlikely, but shareholders would be very supportive,” he added. However, a number of people disagreed with Black’s statements and one individual said he didn’t want them buying back stock. “I want them investing in growth, and making another billion on their BTC position,” the person replied to Black. The former CEO of Aegon Asset Management disagreed and said that it “makes absolutely no sense.” “If you asked 100 institutional [Tesla] shareholders would they prefer [Tesla] to invest $1.5B excess cash in BTC, or $1.5B excess cash in [Tesla] stock, 95/100 would choose [Tesla] stock,” Black insisted. Black continued: It’s excess cash either way. But you’d get far more of $8T of active managers bm’d to the S&P 500 to buy [Tesla], if [Tesla] had a share buyback program instead of buying [bitcoin] with excess cash. Bitcoin-Buying Microstrategy’s Shares Drop More Than 50% Over the Last Month Meanwhile, the firm Microstrategy has also been purchasing bitcoin on a regular basis for a few months now and has profited from this decision as well. On March 5, 2021, Microstrategy announced it had acquired another $10 million worth of BTC and it currently holds 91,064 bitcoin on the firm’s balance sheet. But over the last 30 days, Microstrategy shares (NASDAQ: MSTR) haven’t done well at all and have dropped -51.25% since February 9, 2021. On that day in February, MSTR was swapping for $1,272 and today’s stats show the shares were swapping for $620 per unit before the market closed on Friday. What do you think about the criticism and concerns from people who say these companies should sell their bitcoin to please shareholders? Let us know what you think about this subject in the comments section below. View the full article

The chairman of investment firm Sanders Morris Harris, George Ball, says cryptocurrencies are an effective hedge against currency debasement. In addition, he says that cryptocurrencies are attractive as a small part of portfolios. George Ball Advocates for Crypto as Hedge Against Currency Debasement George Ball talked about bitcoin and other cryptocurrencies in an interview with Yahoo Finance last week. He described two main reasons why cryptocurrencies are now ideal targets for investment by wealthy individuals and institutional investors. Ball is currently the chairman of investment firm Sanders Morris Harris, a dually registered broker dealer and RIA firm established in 1987. Its parent company, Tectonic Financial, has approximately $4 billion in client assets under management. He was a former CEO of Bache & Co. (later Prudential Securities), which had been purchased by Prudential Insurance Company of America where he served as a member of the Executive Office. He argued that cryptocurrencies will be an effective hedge against the debasement of fiat currency, stating: Longer-term, if inflation is back, if we start to debase the currency badly, then the cryptocurrencies have a great deal of allure. His comments came as Washington voted on the $1.9 trillion stimulus package which passed over the weekend. A number of analysts, including those at JPMorgan, have warned of currency debasement risk from the passage of such a huge stimulus relief package. Ball believes cryptocurrencies are “attractive” as a “small part” of any portfolio. The Sanders Morris Harris chairman was quoted as saying: With the cryptocurrencies, I think there is a fundamental hydra-headed shift that makes them attractive as a part, a small part, of almost any portfolio. Moreover, he believes the increase in retail traders who speculate on stocks could push crypto prices higher, expecting them to move to cryptocurrencies if they begin to face losses in the equity market. “If the investors are losing money in common stocks, but still want to speculate, then the cryptocurrencies I think will be the logical and likely next focus of their combined, individually small, but combined very large dollars,” he opined. Ball had been a bitcoin skeptic until last August when he told investors that it was time to buy bitcoin. “I’ve never said this before, and I’ve always been a blockchain, cryptocurrency and bitcoin opponent. But if you look now, the government cannot stimulate markets forever, the liquidity flood will end,” the executive explained. Do you agree with George Ball? Let us know in the comments section below. View the full article

On Sunday, March 7, 2021, the price per bitcoin jumped over the $50k handle once again, as the digital asset’s overall market capitalization is around $925 billion. One thing is for certain, there will never be more than 21 million bitcoin and today there’s roughly 18,647,525 bitcoin in circulation. Interestingly, anyone who owns 21 bitcoin or one-millionth of the entire supply is currently a millionaire today. The ’21 Million Bitcoin Club’ Back in 2017, finance publications reported on a number of crypto proponents “gunning” for exclusive membership into the ’21 million club.’ The 21 million club refers to the number of bitcoins that will ever be produced and by the year 2140, that number will be 21 million BTC. During the last few years, many enthusiasts have tried to join the 21 million club by obtaining a single bitcoin, which is exchanging hands for a touch over $50k on Sunday morning. For years now people can find a myriad of forum posts about people who have finally made it into the exclusive club of owners who hold a single bitcoin (BTC). “After almost [two] years in crypto, I finally got in,” an individual wrote on Reddit two years ago. “It might be small for most of you here, but for a person in a third world country, this is a huge accomplishment. Now, to focus on my [altcoins], then sell them for BTC at the most opportune moment. Wish me luck,” he added. Members of the 21 million club who own a single BTC, also own precisely 0.0000047619% of the entire supply per owner. Then there’s another club of bitcoiners who have obtained approximately 21 BTC or 0.0000999999% of the entire capped bitcoin supply. Today one-millionth of the bitcoin supply is now worth over 1 million U.S. dollars. One-millionth of the bitcoin supply is approximately 21 bitcoin. This week, is another instance of this occasion, as BTC prices dropped in value a few days ago after reaching an all-time high (ATH) at $58,354 on February 21. 21 million club artwork published by cryptoart.com and drawn by artist Alix Branwyn. Ten days prior to the bitcoin (BTC) price ATH, crypto writer Pete Rizzo tweeted “One-millionth of the bitcoin supply is now worth $1 million.” At the time of publication, 132,325 addresses hold anywhere between 10-100 BTC, and owners of one-millionth of the bitcoin supply are represented among this aggregate of addresses. Besides the enthusiasts that want to simply join the 21 million club by owning a single coin, there are many who have been obsessed with joining the club of owners who own a millionth of the BTC supply. “The 21 BTC club becomes more difficult to join,” explains a web portal dubbed “21-btc.club.” Why Did Satoshi Choose the 21 Million Supply Cap? The reasoning behind why Satoshi Nakamoto chose the 21 million supply limit may have been done purposely for a number of reasons. According to an email between Mike Hearn and Nakamoto, however, the Bitcoin network inventor chose the 21 million limit number so it would align with the M1 money supply of fiat currencies like the euro and U.S. dollar. Back in 2008, the M1 money supply was approximately 21 trillion when Nakamoto published the white paper. “I wanted to pick something that would make prices similar to existing currencies, but without knowing the future, that’s very hard. I ended up picking something in the middle,” Nakamoto said in the email to Hearn. Satoshi Nakamoto added: If Bitcoin remains a small niche, it’ll be worth less per unit than existing currencies. If you imagine it being used for some fraction of world commerce, then there’s only going to be 21 million coins for the whole world, so it would be worth much more per unit. The white paper’s math also shows that the 21 million number further aligns perfectly with some of the interesting design patterns within the software. For instance, the 21 million number is integral to the block reward halving, alongside the 10-minute average time to mine a BTC block. Rewards are also cut in half every 210,000 blocks mined, and currently miners get 6.25 BTC per block. The total value of the Bitcoin network’s subsidy (bitcoin block rewards) can be expressed in the equation pictured above. Block reward epochs (210,000 blocks) will be chopped in half consistently until they end following approximately 32 Bitcoin reward halvings. Interestingly, the smallest unit in the Bitcoin network is a single satoshi or 0.00000001 BTC. The Ph.D., Christian Seberino explained in 2018, that Satoshi likely chose the 21 million in order to “involve floating-point arithmetic.” Floating-point arithmetic. Seberino says that even though BTC’s supply limit seems arbitrary, the reasoning behind why Satoshi chose the number is quite sound. “It helps avoid errors on most computer systems, and is likely sufficient for all possible transactions everywhere,” Seberino emphasized. “Floating-point arithmetic is a type of mathematics used by computers to handle decimals. Decimals are often represented with 64 bits where one bit denotes the sign, 11 bits denote an exponent, and, 52 bits denote a fraction.” The paper written by Seberino adds: To avoid rounding errors, it is often a good idea to avoid integers that cannot be represented with only the fraction bits. To be extra safe, it may help to also leave one fraction bit unused. With respect to 64 bit decimals, that would limit integers to 51 bits. The maximum integer that can be represented with 51 bits is just slightly over 2100 trillion. We honestly don’t have a solid answer to why Nakamoto chose the 21 million limit and he could have had insights into some numerological concepts we don’t know about. The 21 million clubs, whether it be holders of one single coin or 21 bitcoins total, will likely continue to grow over time and even change hands across generational wealth boundaries. Furthermore, every time bitcoin (BTC) increases by $50k, then the holders of 21 BTC will see a wealth increase by another $1 million USD. Some would say it’s not too late to join the clubs, if they are interested in carrying wealth into the future. What do you think about the 21 million bitcoin club and the reasons behind why Satoshi Nakamoto chose that number for the supply limit? Let us know what you think about this subject in the comments section below. View the full article

After Elizabeth Warren, the U.S. Senator for Massachusetts called bitcoin a speculative asset, Ro Khanna, the U.S. House Representative for California has spoken in favor of the crypto asset. In his Twitter statement, Khanna says “bitcoin just like digital gold cannot be devalued.” Khanna also lauds the crypto asset’s decentralization, an attribute which he says “promotes transnational exchange whilst providing a check against economic mismanagement.” Awareness of the Concerns In her recent comments about the crypto asset, Warren said she agreed with the U.S. Treasury Secretary, Janet Yellen’s contention that BTC is a speculative asset. Further, in a bit of apparent advice to cryptocurrency investors, Warren warns this is “going to end badly.” For her part, Yellen says BTC is extremely inefficient due to the crypto asset’s perceived disproportionate energy use. Meanwhile, in his tweet, Khanna appears to be cognizant of the concerns that are often peddled by opponents of the leading crypto asset. Khanna said: “Let us nurture it but protect consumers, prevent abuse, and invest in less carbon-intensive mining. That should happen in America.” Twitter Reaction In the meantime, on Twitter, not many agree with Khanna’s pro-BTC comments. In many of their responses, Twitter users repeat the common attack points against BTC. For instance, one user known as August has added electronic waste to the crypto asset’s perceived energy waste. The user tweeted: “Gfx cards that are typically used for the mining of crypto are bought and discarded much more quickly than they would otherwise be in their typical use cases.” Another user, Forza Manchester City dismisses the crypto asset’s decentralization attribute. The user asserts that “decentralization of bitcoin is just in theory.” According to this user, BTC “will very likely always be controlled by a few major mining pools.” On Khanna’s contention that the crypto asset’s decentralization can provide a check against economic mismanagement, the user disagrees. Instead, he claims BTC decentralization only helps to “obfuscates movements of speculative actors.” Still, some Twitter users are applauding Khanna for trying to make a real change instead of “doing nothing.” What are your thoughts on Ro Khanna’s remarks about BTC? Tell us what you think in the comments section below. View the full article

The premium on Grayscale Investment’s GBTC, which turned negative for the first time on February 23, is continuing its downward slide. As the latest Glassnode data shows, the GBTC was trading at a record low discount of -11.92% on March 4, 2021. According to the same data, this new low is a significant reversal from the December 21 premium of nearly 40%. The Competition This growth in the discount on GBTC comes as Grayscale Investments gradually shifts focus to altcoins. As reported by news.Bitcoin.com, Grayscale added 174,000 litecoins or almost 80% of the newly minted LTC in February of 2021. Similarly, the investment company also added 243,000 ETH to its ethereum holdings during the same period. However, it is the discount on the GBTC that has sparked debate about what it might mean for holders of the investment product. Some have pointed to the launch of Purpose Bitcoin ETF as the primary reason for widening discount on the GBTC. After its launch on February 18, the ETF had amassed 11,141.2363 bitcoins as of March 2. Meanwhile, also sharing the same sentiment are analysts at the financial services giant JP Morgan. In addition to naming the increasing competition, the analysts also believe “profit booking” to be the other reason why the premium on GBTC has disappeared. In the meantime, as Josh Frank, the founder and CEO at Thetie.io explains to news.Bitcoin.com, this scenario will not hold forever. “This discount is not going to last forever because investors will take advantage of the discount on bitcoin they can hold in their retirement accounts,” said the founder. The Premium Has Always Existed Meanwhile, according to Frank, who previously explained in a Twitter thread why the premium on GBTC existed, institutions were getting “into the GBTC to arb the difference between the borrowing rate and the premium.” And as the CEO notes, this “trade worked for a really long time as retail consistently paid a premium on GBTC so they could get exposure in their retirement accounts.” However, since the GBTC does not allow investors to redeem shares for underlying bitcoin and “as more investors came into arbitrage the premium, the amount of bitcoin held in GBTC skyrocketed thus exceeding the demand for GBTC by retail.” Meanwhile, the CEO suggests that Grayscale will have to make some changes particularly to its annual management fee of 2%. Frank said: I think Grayscale is going to have to respond to this by allowing investors to redeem shares for underlying BTC or the management fee will have to drop. Meanwhile, on Twitter, some crypto enthusiasts agreed with the narrative that increasing competition could be the primary reason why the premium on GBTC has turned negative. Premium or Discount Nevertheless, others still think the discount will not impact Grayscale’s ability to profit from offloading the BTC. For instance, one Twitter user who uses the name Sandwich Toaster, claims that after buying the BTC between $20,000 and $40,000, Grayscale can now “sell them (BTC) with the 11% discount and still make a profit.” Still, other users like Rama Rao are adamant that the GBTC should be trading at 20% to 30% premium on BTC but not everyone agrees. One user known as JPC thinks the opposite should hold. In his tweet, JPC said: “GBTC could go to a 20-30% discount as more & more people learn about buying btc directly on exchanges.” Do you agree that increased competition has led to the growing discount on GBTC? You can tell us what you think in the comments section below. View the full article

The Technological District of Mar del Plata, Argentina, will host a massive crypto mining operation backed by a domestic startup accelerator. Lothal Mining is the company that will run the operations of the mining firm in the Argentinean city. Firm Will Mine Ethereum During the First Stage Per local newspaper La Capital, Grupo Neutrón invested almost 45 million pesos ($310,000), and there are plans to allocate additional funding of 200 million pesos ($2.21 million). The infrastructure is ready, and in a first stance, the firm will mine ethereum (ETH). However, the company plans to expand to other cryptocurrencies. The funding provided by the startup accelerator seeks to acquire hardware, refrigeration equipment, building the mining farm, hiring staff to perform electrical maintenance, among other activities. Also, officials of the Ministry of Industry of the Nation were in the mining farm to check the project’s launching. Maximiliano Gonzáles Kunz, Grupo Neutrón’s CEO, pointed out that crypto mining is urgently needed in the context that fiat is “tending to lose ground progressively.” He added: With this equipment, for example, we can make our processing power available to companies that enter the world of cryptocurrencies and need to transact those operations. Growing Interest in the Crypto Mining Project, Claims CEO On the decision of picking Mar del Plata as a hub for the mining rig, Gonzáles Kunz praised its strategic location for the technological ecosystem of the city. Moreover, he believes the synergy created among the startups within the area is the proper environment to set up a project like this one. Still, the startup accelerator claimed that there is “a lot of interest” in the crypto mining project. On the energy supply costs, Grupo Neutrón’s CEO commented: We will make investments in infrastructure to guarantee a stable and cheaper supply. (…) We have strategic alliances with Grupo Núcleo and Neutrón. This gives us access to hardware availability at the best market costs, capital investments for the project, and a technological ecosystem that allows us to achieve synergy with different projects in the sector. What do you think about this new mining rig in Argentina? Let us know in the comments section below. View the full article

Ripple chief executive officer Brad Garlinghouse said Friday that the company’s business in the Asia-Pacific region has not suffered from the ongoing regulatory issues in the U.S. Ripple’s Business in Asia and Japan Sees Growth Ripple is facing a $1.3 billion lawsuit from the U.S. Securities and Exchange Commission (SEC). In December, the SEC charged Ripple, creators of the eponymous XRP cryptocurrency, and its top executives with selling unregistered securities since 2013. The blockchain payments firm denies the charges, but that has not stopped a number of U.S. crypto exchanges, including Coinbase, from delisting XRP, the world’s seventh most valuable digital asset by market capitalization. Garlinghouse, who is accused of personally gaining up to $600 million from the unregistered sale of XRP in an ICO offering, told Reuters in a Mar. 5 interview that business in areas like Japan was flourishing. It (the lawsuit) has hindered activity in the United States, but it has not really impacted what’s going on for us in Asia Pacific. We have been able to continue to grow the business in Asia and Japan because we’ve had regulatory clarity in those markets. CEO Claims the Token ‘Still Traded on Over 200 Exchanges Around the World’ The Asia Pacific region is a major remittance corridor for Ripple and the firm has achieved remarkable results as a remittance solution provider in the region. In Japan, Ripple concluded a joint venture deal with Japanese conglomerate SBI Holdings to create SBI Ripple – a company that aims to facilitate payments underpinned by Ripple’s technology. Garlinghouse revealed that his company has signed more than 15 new contracts with banks worldwide since the SEC brought its lawsuit, according to the Reuters report. He added that the lack of regulatory clarity in the U.S. is hindering innovation. “We’re seeing the activity of XRP liquidity has grown outside the United States and continue to grow in Asia, certainly in Japan,” he said. On XRP delistings, the Ripple CEO stated that he was not aware of any exchange outside the U.S. that had stopped trading of the token. “XRP is traded on over 200 exchanges around the world. It’s really only three or four exchanges in the United States that have halted trading,” said Garlinghouse, who has previously spoken about relocating Ripple’s headquarters from the U.S. due to unfavorable regulation. What do you think about Ripple’s overseas operations as revealed by the CEO? Let us know in the comments section below. View the full article

American financial advisor Suze Orman says she loves bitcoin. She has provided some advice on how to invest in the cryptocurrency a month, noting that she prefers to buy bitcoin through Paypal’s crypto service because the payments giant has made it easy to do so. Suze Orman Loves Bitcoin Suze Orman said she loves bitcoin in an interview with Yahoo Finance published Friday where she shared her bitcoin investing strategy and advised listeners how they should start investing in the cryptocurrency. She founded the Suze Orman Financial Group in 1987 and her Suze Orman Show ran on CNBC from 2002 to 2015. She has written 10 consecutive New York Times bestsellers about personal finance and was named twice on Time Magazine’s list of the 100 most influential people. In addition, she won two Emmy Awards and eight Gracie Awards. In 2016, she was appointed as a personal finance educator for the United States Army and Army Reserve. Orman was asked Friday, “what is your take on bitcoin?” Referencing one of her recent podcasts dedicated to cryptocurrency, she replied: I love bitcoin. I like the universality of it. She elaborated, “I like that it’s just there and the corporations that are investing in it.” However, the two-time Emmy-Award-winning television host added: “I do not like bitcoin as a currency. I don’t like it where you’re going to buy a Tesla or you are going to buy something with it. I like it as a possible replacement for gold, as an investment.” Recently, Elon Musk’s electric car company, Telsa, said that it will soon start accepting BTC as a means of payment for its products. Orman further revealed: “I personally played bitcoin through Microstrategy. In June of last year, I bought Microstrategy at about $125 a share, right around there.” She explained that “There was something about the CEO,” Michael Saylor, who made her think, “this man is making sense to me.” Microstrategy has been buying bitcoin since August last year. As of March 5, the company is hodling about 91,064 bitcoins. “I rode it [Microstrategy] all the way up and I sold. I think it was last week at right about $1,000 a share because I didn’t like, for the first time, bitcoin was going up but Microstrategy was going down,” Orman said. Suze Orman’s Bitcoin Investing Advice, Buying Cryptocurrencies Through Paypal Orman proceeded to give some advice regarding cryptocurrency investing. She cautioned about the risks associated with investing in bitcoin. “What I tell my listeners and what I would tell everybody, bitcoin is seriously risky,” she began. “I would not be investing in bitcoin with money that I cannot afford to lose because the swings are not just going to be a point or two a day. They’re going to be $5,000 worth one day. It’s going to be up 7%, down 10%, it’s going to be all over the place.” Nonetheless, she advised, “But I think that it’s something that wouldn’t hurt people if they had it to lose, $100 a month in it.” The personal finance guru further opined: I personally would do it through Paypal because Paypal makes it so easy and it’s not that big of a hit given in terms of commission. It’s like 1.5%, 2% depending on how much you are investing every month. She emphasized: “I happen to like bitcoin and I like the premise behind it a lot. And I really love how Cathie Wood loves bitcoin. I love that, a lot.” Wood is the founder and CEO of Ark Investment Management. Many people on Twitter are surprised to hear Orman saying that she loves bitcoin. “Not gonna lie, I did not see this coming,” one user tweeted. “I’m going to file this under, “Headlines I did not expect to see in my lifetime,” another commented. As for using Paypal to buy bitcoin, a number of bitcoiners have voiced some concerns about the payments giant’s crypto service. While some users have complained about the service, many bitcoin proponents warn that cryptocurrencies bought through Paypal cannot be transferred away from the platform, emphasizing “not your key, not your coins.” “You currently are not able to send crypto assets to family or friends, use crypto assets to pay for goods or services, or withdraw crypto assets from your cryptocurrencies hub to an external cryptocurrency wallet,” the Paypal crypto service’s terms and conditions read. “If you want to withdraw the value from your cryptocurrencies hub you will need to sell your crypto assets and withdraw the cash proceeds from their sale.” What do you think about Suze Orman’s advice about bitcoin? Let us know in the comments section below. View the full article

Global investment bank Goldman Sachs is seeing huge institutional demand for bitcoin with no signs of abating. A survey of Goldman’s institutional clients shows that 61% expect to increase their cryptocurrency holdings. Meanwhile, 76% say the price of bitcoin could reach $100,000 this year. Goldman Sachs Sees No Signs of Institutional Demand for Bitcoin Abating In a podcast published Friday, Mathew McDermott, head of Digital Assets for Goldman Sachs’ Global Markets Division, discusses the cryptocurrency trading environment for institutional investors. He explained that his team conducted a cryptocurrency survey across the firm’s institutional client base, from “hedge funds, to asset managers, to macro funds, to banks, to corporate treasurers, insurance, and pension funds.” He clarified that “all of our institutional client discussion is really focused around bitcoin.” His team received responses from 280 institutional clients and published the results of the survey this week. “What’s been particularly interesting,” according to McDermott, was that “40% of the clients currently have exposure to cryptocurrencies,” which he explained could be in any form, from “physical through derivatives, through securities products, or other offerings in the market.” The executive revealed: In terms of institutional demand, we have seen no signs of that abating … We see a huge amount of demand institutionally, [and] we’re also seeing that reflected in the private wealth management space as well. He further described that “corporate treasurers, for example, they’re interested in two different aspects.” The first is whether they should be “investing in bitcoin on their balance sheet,” McDermott detailed, citing that “the key drivers from their perspective are negative rates … [and] just the general fears around asset devaluation.” In addition, he said that they are also thinking “should we consider it as a payment mechanism? … particularly in the context of Tesla’s announcement.” Elon Musk’s electric car company, Telsa, said that it invested $1.5 billion in bitcoin in January and will soon be accepting the cryptocurrency as a means of payments for its products. Out of the institutional clients that have crypto exposure, the survey shows that 41% own physical or spot crypto. McDermott emphasized: 61% of the clients expect their digital asset holdings to increase over the next year. As for what’s stopping institutions from investing in cryptocurrencies, 34% of respondents believe that “regulation, internal investment, mandate permissions” are the greatest hurdles to start allocating to crypto assets. 24% believe that a lack of well-regulated, investable crypto assets is the greatest hurdle. Most Goldman’s Institutional Clients Expect Bitcoin Price Could Reach $100K This Year As for the future outlook of cryptocurrencies, 54% of respondents predict the price of BTC will be between $40,000 and $100,000 in 12 months while 22% predict it will be more than $100,000. This price level is not far-fetched as several fund managers are predicting the same, including Skybridge Capital and Mike Novogratz. “In terms of the price action, I think it’s very difficult to predict bitcoin. It’s not an easy pastime,” McDermott opined, elaborating: The survey was quite insightful in the sense that 76% agreed that the price by the end of the year would be between $40,000 and $100,000 … But, 22% were predicting over $100,000. “I was on a similar survey with a private roundtable recently and the results there echoed something quite similar where 33% were predicting over $80,000 by the end of the year,” the Goldman executive further shared. The global investment bank recently restarted its bitcoin trading desk. McDermott confirmed that the desk will begin handling bitcoin futures and non-deliverable forwards for clients. Goldman’s global head of commodities research, Jeff Currie, recently said that the bitcoin market “is beginning to become more mature,” calling the cryptocurrency “a retail inflation hedge.” What do you think about Goldman Sachs’ view on bitcoin? Let us know in the comments section below. View the full article

A number of National Basketball Association (NBA) team owners have formed an NBA blockchain advisory committee for the American professional basketball league. The advisory committee is composed of well known billionaires and blockchain advocates who own the teams the Nets, Mavs, Wizards, Celtics, Kings, and Jazz. Billionaire NBA Team Owners Invoke a Blockchain Advisory Committee for the National Basketball Association The American professional basketball league, the NBA, may incorporate blockchain and crypto solutions into the industry in the near future. Sportico.com contributors Scott Soshnick and Eben Novy-Williams discussed the new NBA blockchain committee with one of the members, Dallas Mavericks owner Mark Cuban. Soshnick and Novy-Williams also mentioned the popular Flow blockchain application backed by Dapper Labs, which has been producing “NBA Top Shot” non-fungible token (NFT) assets. The Sportico authors say that NBA Top Shot sales have been very productive producing $300 million in sales on resale markets so far. “It has very little to do with Top Shot,” Cuban told the publication via email. “It’s about blockchain applications, of which Flow is just one option.” The group’s members were verified by “multiple people familiar with the plans” the Sportico reporters note. Ostensible members of the NBA blockchain committee include Mark Cuban, Joe Tsai, Ted Leonsis, Steve Pagliuca, Vivek Ranadive, and Ryan Sweeney. “The NBA declined to comment,” on the subject Soshnick and Novy-Williams highlighted. Many of the NBA Blockchain Advisory Committee Members Are Longtime Crypto Supporters Just recently, Cuban allowed the Dallas Mavericks basketball club to accept dogecoin (DOGE) via Bitpay. Vivek Ranadive the owner of the Sacramento Kings has been a cryptocurrency and blockchain supporter for a long time. The Sacramento Kings basketball club has accepted bitcoin (BTC) since 2014. The co-owner of the Boston Celtics, Steve Pagliuca, is the co-chairman of Bain Capital, a venture capital unit, which has invested millions into blockchain projects over the years. The solutions and innovations cryptocurrencies and blockchain could bring to the NBA’s table are unfathomable. Blockchain could be leveraged for ticketing solutions, raffles and giveaways, non-fungible token (NFT) sports collectibles, digitally signed memorabilia from a fan’s favorite basketball player, and retiring numbers and jerseys in an immutable fashion as well. Not to mention that cryptocurrencies can be leveraged to pay for all of these types of items alongside all the merchandise, food and beverages, and anything else the NBA sells could be sold for crypto assets. What do you think about the creation of the NBA blockchain advisory committee? Let us know what you think about this subject in the comments section below. View the full article

The cryptocurrency community is in a tizzy this weekend after the founder of Twitter, Jack Dorsey, tweeted about a new application that allows people to purchase tweets with ethereum. The application is called Valuables and it allows individuals to purchase a digital certificate of the tweet, which is signed and verified by the tweet’s creator. Tokenized Tweets for Sale Tokenization and non-fungible token (NFT) asset industry have swelled during the last six months and a great number of artists, celebrities, and social luminaries have jumped on the bandwagon. There have been 5,368,992 NFT sales equating to $381 million in sales to-date since nonfungible.com started tallying up the market history. Now a project called Valuables or the Web3 compatible web portal v.cent.co is attempting to make tweets valuable by tokenizing them via the Matic blockchain. But there is a lot of controversy over whether or not tweets can be valued and stored in a meaningful way on a blockchain. https://t.co/xCnWG9EqgD — jack (@jack) March 6, 2021 On March 5, 2021, Jack Dorsey the founder of Twitter and Square Inc., tweeted about the project with a tweet that he is selling. At the time of publication, the founder of the Tron blockchain, Justin Sun, has bid $1 million dollars for a tweet Dorsey created back in 2006. The CEO at Bridge Oracle, Hakan Estavi, outbid Justin Sun and is now offering $1.5 million in ether for the tweet. The two have been going back and forth in a bidding war for the Dorsey tweet being sold on Valuables. At the time of publication, the CEO at Bridge Oracle, Hakan Estavi has bid $1.5 million worth of ether toward Jack Dorsey’s tweet. He has outbid, the founder of Tron, Justin Sun’s last bid at $1 million for the tweet from 2006. The tweet from 15 years ago is when Dorsey wrote “just setting up my twttr.” With the Valuables program, Dorsey certified his tweet from 2006 and people can offer to buy the digital certificate of the tweet with ethereum (ETH). Concept Sparks Criticism Toward Tokenizing Tweets on a Blockchain Of course, not everyone in the crypto space is impressed with the Valuables project and many people think the application’s real-world value is worthless. Meanwhile, many people said that Bitcoin maximalists were just jealous and the Valuables tokenization of tweets idea is innovative. “Welcome to Ethereum, Jack,” one Ethereum proponent tweeted in response to Jack’s sale. “Surely, you will fetch a good price for this tweet. However, the cope and salt from the maxis: priceless,” he added. Despite the NFT and tokenization fans, a myriad of crypto proponents seemed disillusioned by the concept of selling tweets. “What happens if you buy someone’s tweet and then they delete it?” software developer Jameson Lopp tweeted. Also, how can you audit the ecosystem to ensure that a tweet hasn’t been sold multiple times? Point being, I suspect your ownership claim is quite weak. This looks like a prestige system, not an ownership system,” Lopp added. @tokenizedtweets 0x5455AbF783C90b7CFB3006d499fFC043a70Da19c — nirbhik.eth ⟠🦉🕯️ (@NirbhikJangid) June 17, 2020 On March 5, the CEO of Kraken Jesse Powell wrote that the purchasing of tweets may open Twitter to a whole lot of security vulnerabilities. “This whole buying tweets thing is putting bounties on Twitter account takeovers,” Powell insisted. “Hope you all are using U2F security keys and not SMS for account 2FA/recovery.” A number of people agreed with the Kraken founder’s assessment on Friday afternoon. Meanwhile, Dorsey’s 2006 status on the Valuables platform is not the first time that specific tweet has been tokenized. There’s already an existing application called Tokenized Tweets (@tokenizedtweets), which has been around since 2019. Dorsey’s 15-year-old tweet was first tokenized using the Tokenized Tweets platform on June 17, 2020. The Valuables FAQ says that tweets can “only be minted once on Valuables, [but the] NFT though can be bought and sold an unlimited number of times.” It begs the question: Which Jack Dorsey March 21, 2006, tokenized tweet is more valuable? Some would say, however, Dorsey’s NFT mint is more valuable because he certified it using the Valuables application. As far as the payment is concerned when a tweet is purchased using Valuables, 95% goes to the original tweet creator and 5% goes to keeping running Valuables. The project is run by an organization called Cent and for secondary sales, 87.5% goes to the seller, 10% goes to the creator, and 2.5% goes to company Cent. What do you think about the tokenization of tweets and selling them for ethereum? Let us know what you think about this subject in the comments section below. View the full article

A recent JP Morgan poll found that 22% of the respondents said their respective organizations were likely to trade or to invest in cryptocurrencies. This figure (22%) is double the percentage of respondents (11%) who said yes when asked if their respective organizations were already trading or were invested in cryptocurrencies. The Institutional Embrace of Cryptos According to a report, the findings of this latest poll represent fresh evidence that backs the claim that more mainstream institutions are embracing crypto assets. Already, since the start of the year 2021, major corporations like Tesla have revealed their cryptocurrency holdings. Similarly, large hedge funds like Blackrock have signaled their intention to get exposure to crypto-assets like bitcoin (BTC). Still, as the same report shows, an overwhelming majority (78%) of investors whose institutions are yet to embrace cryptos; said there were no plans to invest or to trade in cryptocurrencies. Additionally, nearly all the respondents (98%) “believe fraud in the crypto world is ‘somewhat’ or ‘very much prevalent.'” Cryptos Are Here to Stay Yet, despite this perception or reluctance to invest in cryptocurrencies, some 58% of the respondents still believe that this new asset class is “here to stay.” On the other hand, some 7% of the investors assert that cryptocurrencies “will become one of the most important assets.” Since the start of Q4 of 2020, when Square Inc., announced its BTC holdings more listed companies have revealed the values of their cryptocurrency holdings. This fact is also supported by the latest data from bitcointreasuries.org, a website that tracks public and private companies that hold BTC. According to the site’s data, more than 1.36 million bitcoins, or 6.49% of the crypto asset’s circulating supply is currently in the hands of large companies and hedge funds. Still, despite this apparent embrace of digital assets by mainstream organizations, some 21% of the polled investors still see cryptocurrencies as just a “temporary fad.” Additionally, about 14% of the respondents are in agreement with the characterization of crypto assets as “rat position squared.” Do you agree with the view that crypto assets will become one of the most important assets? Tell us what you think in the comments section below. View the full article

A U.S. District Court has indicted three individuals behind the now-defunct Geek Group for their role in running an illegal money transmission business that used bitcoin to move funds across states. According to the indictment documents, it was Christopher Allan Boden then president of the Geek Group, who “sold bitcoin to numerous customers, in exchange for U.S. currency, primarily cash.” Violation of Money Transmission Laws The indictment of Boden and his accomplices comes more than two years after federal law enforcement raided the Michigan-based not-for-profit organization. Immediately after the raid, the Geek Group, which had previously been involved in charity work, announced the shut down of the organization. Meanwhile, as the indictment documents show, Boden would obtain the BTC from Daniel Reynold Dejager, who lived in Washington. As part of their conspiracy, Dejager would “periodically travel to Michigan to meet with Boden.” According to their adopted practice, Boden alongside Leesa Beth Vogt and others, “would deposit cash received from their customers into a bank account to which Dejager had access.” Alternatively, a transfer of cash to Dejager would be made and Dejager would then “use that currency to purchase additional bitcoin.” However, according to the U.S. indictment, this arrangement was not in compliance with the relevant laws. In the indictment, the prosecutors said: During the period relevant to this indictment, none of Boden, Vogt, Dejager and The Geek Group, (also known as the National Science Institute) was registered as a money services business or money transmitter with the United States Department of the Treasury. Furthermore, the indictment document reveals that the “total value of bitcoin sold by Boden and his co-conspirators was equivalent to more than $700,000 in U.S. currency.” Bitcoin Mixing Meanwhile, the prosecutors also allege that between 2017 and 2018, Boden and Dejager resorted to mixing the BTC “before selling it to customers to conceal its origin.” In addition, Boden and his accomplices are accused of extending their services to customers involved in illegal activities. The document states: (Boden and his accomplices) knowingly conducted and attempted to conduct a financial transaction, namely, the sale of bitcoin for cash, affecting interstate or foreign commerce involving property represented by an undercover law enforcement officer to be proceeds of specified unlawful activity, namely, distribution of controlled substances in violation of Title 21, United States Code, Section 841. In the meantime, the indictment documents state that upon their conviction, Boden and his accomplices “shall forfeit to the United States a money judgment in the amount of at least $700,000.” In addition to the 1.33 BTC, all crypto assets accessible from wallets associated with two Trezor devices, comprising at least 0.365 BTC, seized on or about December 21, 2018,” shall be forfeited to the U.S. government. If any of these remedies fail, “the United States shall be entitled to forfeiture of substitute property” the indictment concludes. What are your views on this indictment of Boden and his colleagues? Tell us your thoughts in the comments section below. View the full article

A major Russian mining firm is facing legal troubles in St. Petersburg, as three individuals are accusing the company of fraud. Cryptouniverse will now face a trial after a city court issued a criminal case order during the week. A District Court Rejected to Launch a Criminal Case Against the Firm in 2020 According to RBC, the St. Petersburg City Court accepted the appeal of three customers of Cryptouniverse — a bitcoin (BTC) and litecoin (LTC) miner founded in 2018 — and considered the case should go before a trial. At first, the legal case against the firm made the headlines in August 2020. Businessman Alexei Burik launched the legal initiative, who claimed that Cryptouniverse allegedly embezzled his crypto mining equipment and his mined coins worth 25 million rubles ($340,000). At the time, the Kuibyshevsky District Court rejected the police decision to launch a criminal case on fraud, with the trio now involved, after the mining company filed an appeal. As the St. Petersburg City Court accepted the plea of the three people, the criminal case is targeting Mikhail Kvasnikov, general director of Cryptouniverse, who owns around 60% of the firm. Experts quoted by RBC have said that most of the legal cases against crypto mining farms, like Cryptouniverse, are related to a sudden change in equipment usage’s terms and conditions. Such changes, however, don’t favor at all the customers, stated the experts. Is the Lack of Regulation on the Russian Crypto Mining Hurting the Business? But the problem is deeper than it seems to be. The trade union of crypto miners in Russia is blaming the expensive costs of installing crypto mining rigs in homes. Thus, people are forced indirectly to rely on mining data centers. According to Maxim Nikolaev, coordinator of the trade union of crypto miners in Russia, the lack of regulation in the crypto mining industry is triggering in some way this kind of legal trouble with mining firms. Moreover, such lack of a legal framework opens the door to affect the profits of the crypto mining companies’ customers, experts say. What do you think about this legal case against Cryptouniverse? Let us know in the comments section below. View the full article

PRESS RELEASE. The Taraxa Foundation, a non-profit body supervising research and development of the Taraxa project, announced a public sale kicking off on March 4 at 6 PM PST. The token sale follows the launch of Taraxa’s public testnet and the release of a flagship application, with the main purpose of distributing TARA tokens to community members and funding ongoing technology and community development. Participants will be required to provide documentation and verify their eligibility in order to participate. The offer is not being made within the United States or to any U.S. persons (as defined under U.S. federal securities laws). TARA token purchasing options and allocation The token sale will take place from March 4 till March 15, with pre-registration starting at 6 PM PST on March 4. This is the first public sale held by the company after the 2018 private rounds led by Fenbushi Capital (an early investor in Ethereum), KuCoin, and LongHash Ventures. Through the sale, investors will be able to purchase TARA tokens, with the price ranging from $0.008 to $0.012 with different locking periods. All options will be offered simultaneously, and participants will be able to purchase any combination of the options. The minimum check size across all options is $1,000. Any unsold tokens will be allocated back into Community and Ecosystem development. How to participate The latest information can be found on Taraxa’s token sale information page. On the technical side, Taraxa is working with Tokensoft, the same Silicon Valley platform that has helped The Graph, Avalanche, and Findora to launch their token. Registrants will need to go through a KYC process in compliance with relevant regulations and rulings. A blockchain ledger purpose-built for audit logging Taraxa is a public ledger platform purpose-built for data via audit logging to track informal transactional agreements started in 2018 in Mountain View, CA, by two Stanford graduates, Steven Pu and Justin Snapp. Taraxa’s protocol features a slew of innovations, such as extremely high logic processing throughput, low inclusion latency, and low finalization without sacrificing security or decentralization. The core team hails from Stanford, Princeton, Berkeley, and Brown, with a balance of technical & business backgrounds from Qualcomm, EMC, Cadence, and Monitor Deloitte. Public Sale Information Website: https://token.taraxa.io/ Company Website: https://www.taraxa.io Media inquiries: media@taraxa.io Partnership inquiries: partner@taraxa.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

Tech entrepreneur and former anti-virus tycoon John McAfee has been indicted by the U.S. Department of Justice (DoJ) on money laundering and fraud charges. The United States Attorney for the Southern District of New York and the FBI unsealed the indictment charging McAfee and his associate Jimmy Watson with securities fraud. John McAfee Indicted by US Law Enforcement for Fraud and Money Laundering Tied to Crypto Schemes According to a press release published by the DoJ on March 5, John McAfee has been indicted for a number of charges tied to his cryptocurrency operations and his so-called “McAfee Team.” The Federal Attorney, FBI, and DoJ also charged McAfee’s alleged partner Jimmy Watson, who purportedly served as an “executive adviser” to McAfee’s alleged cryptocurrency squad. McAfee and Watson have been charged with “conspiracy to commit commodities and securities fraud, conspiracy to commit securities and touting fraud, wire fraud conspiracy and substantive wire fraud, and money laundering conspiracy offenses stemming from two schemes relating to the fraudulent promotion to investors of cryptocurrencies qualifying under federal law as commodities or securities,” according to the DoJ announcement published on Friday. Last Friday, Janice McAfee (John’s wife) was requesting legal assistance from a lawyer from Tennessee. One that can work with her husband’s Spanish lawyers and they need to have a strong understanding of cryptocurrency, she said. But this was seven days before John’s indictment on Friday, and she hasn’t spoken on the indictment formally on social media. Federal prosecutors say that John McAfee leveraged his social media presence to engage in “age-old pump-and-dump schemes.” US Prosecutors Discuss McAfee ‘Tweeting to Hundreds of Thousands of His Twitter Followers’ Manhattan U.S. Attorney Audrey Strauss discussed how McAfee’s Twitter account held a strong amount of evidence. “As alleged, McAfee and Watson exploited a widely used social media platform and enthusiasm among investors in the emerging cryptocurrency market to make millions through lies and deception,” Strauss said. “The defendants allegedly used McAfee’s Twitter account to publish messages to hundreds of thousands of his Twitter followers touting various cryptocurrencies through false and misleading statements to conceal their true, self-interested motives,” she added. John McAfee, the creator of the McAfee anti-virus software, has been charged in the US with conspiracy to commit fraud & money laundering. Mr McAfee and his bodyguard are accused of promoting cryptocurrencies to his more than one million Twitter followers to inflate prices. — Paul Bakibinga (@PabloBach) March 5, 2021 Strauss and U.S. prosecutors claim the ostensible McAfee team allegedly took in over $13 million from investors. “Investors should be wary of social media endorsements of investment opportunities,” Strauss warned during the announcement. After the DoJ published the indictment against Watson and McAfee, the news went viral on social media. “John McAfee did nothing wrong,” one person tweeted on Friday evening. Others jokingly discussed McAfee’s famous million-dollar BTC bet he had going for a while. “We were promised something John Mcafee never delivered,” one person teasingly tweeted sharing screenshots of McAfee’s humorous wager. The charges against McAfee and Watson derive from investigations that took place in 2017 during the crypto bull run and expanded in 2018 prosecutors note. What do you think about the U.S. indictment against Watson and McAfee? Let us know what you think about this subject in the comments section below. View the full article

While bitcoin prices have been coasting along between $46k to $48k during the last three days a number of proponents are still bullish about the crypto asset’s long-term value. On Thursday, Kraken CEO Jesse Powell said that he thinks bitcoin could easily reach a million-dollar valuation per coin. “When you measure it in terms of dollars, you have to think it’s going to infinity,” Powell insists. Bitcoin to Infinity and Beyond During the last few weeks as bitcoin (BTC) prices saw a climactic rise above the $58k handle a number of crypto proponents and analysts think BTC could region six-digits in USD value. There have been a lot of calls suggesting BTC will reach $100k this year and even people who say it could hit $200 to $350k per unit. After bitcoin touched an all-time high (ATH) on February 19, 2021, on Thursday the CEO of the cryptocurrency exchange Kraken told Bloomberg reporter Lynn Thomasson that he believes the leading asset could make it to $1 million someday. In 2011, Kraken founder Jesse Powell visited the offices of the bitcoin exchange Mt Gox after the Japanese company’s 2011 security breach. Powell told Bloomberg that he started working on Kraken as a replacement for Mt Gox when he started the exchange ten years ago. Ten years from now, Powell thinks bitcoin could tap a $1 million per unit price tag. Not too many people call seven-digit BTC prices but Jesse Powell, Kraken’s CEO said; “We can only speculate, but when you measure it in terms of dollars, you have to think it’s going to infinity.” The founder of the San Francisco trading exchange said that “true believers” think BTC could replace all the global currencies. “The true believers will tell you that it’s going all the way to the moon, to Mars, and eventually, will be the world’s currency,” Powell detailed in his recent interview. Powell also disclosed that the company Kraken is considering an initial public offering (IPO) next year following the footsteps of the popular crypto exchange that’s also located in San Francisco, Coinbase. Kraken Research: ‘Long-Term Trends Show We Are Still Far Away From a Major Market Cycle Top’ Kraken also published a February 2021 market recap on Friday, which looks at a number of key takeaways. A few of them being, BTC’s Logarithmic Regression Retracement data, bitcoin’s price returns, and volatility, alongside other digital assets in the crypto economy. “Historic price action shows that bitcoin bull market corrections typically retrace between 70-90%,” Kraken’s researchers wrote on Friday. “When examining long-term trends, our analysts conclude we are still far away from a major market cycle top.” Powell is also optimistic about BTC’s steady rise and the leading crypto asset’s value against the U.S. dollar. “[The U.S. dollar] is only 50 years old and it’s already showing extreme signs of weakness, and I think people will start measuring the price of things in terms of Bitcoin,” Kraken’s Powell concluded. What do you think about the Kraken CEO’s prediction that BTC could reach a million dollars per unit? Let us know what you think about this subject in the comments section below. View the full article

According to the findings of a joint Arcane Research and Bitstamp study, bitcoin’s unique characteristics, which include it being “the most portable asset”, are the likely contributing factors behind the increasing use of the crypto as a collateral asset. Bitcoin Unmatched This is evidenced by the study’s data which shows that approximately “420,000 bitcoins were used as collateral in various loans in the lending markets in Q4 of 2020.” This figure is nearly double the 213,000 bitcoins that were used as collateral in Q4 of 2019. In another boost to the case as the best collateral asset, the study findings suggest when compared to traditional assets like “government bonds and cash-based securities,” the leading crypto asset is unrivaled. For instance, the findings assert that only bitcoin (BTC) “is an asset without both counterparty risk and credit risk.” Additionally, BTC is “available for trading 24/7, 365 days a year, all over the world.” In touting the superiority of some of these characteristics, the Arcane Research and Bitstamp study states: Bitcoin can be transferred around the world, instantly, at almost no cost, any time of the day, and any day of the year, and with full finality. No other assets can match these properties today, making bitcoin the perfect collateral asset for the future. Bitcoin Share of Collateral Market Still Negligible Meanwhile, despite the crypto asset’s immense potential, the study findings suggest that BTC only accounts for a minuscule of the $20 trillion collateral market today. To illustrate this fact, the researchers from Arcane Research estimates that “around 625,000 BTC are used as collateral in the crypto market today, or approximately $30 billion.” According to the researchers, this number is based on “estimations of collateral held in the derivatives market, in relation to bitcoin collateralized lending and tokenized BTC in decentralized finance (defi).” When compared to the total collateral market, this number suggests that “bitcoin collateral only accounts for 0.15% of the total collateral market today.” Nevertheless, the study still asserts that BTC’s share of this market is growing rapidly and that the potential for a trillion-dollar market remains. What is your view concerning BTC’s share of the total collateral market? Tell us what you think in the comments section below. View the full article

PRESS RELEASE. BitMax.io (BTMX.com), an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the listing of OMI Tokens (OMI) under the trading pair of OMI/USDT on March 2nd at 9:00 a.m. EST. ECOMI is leading the way in the mass market digital collectible space. Its app, VeVe, offers the most comprehensive digital collectible experience, with premium format 3D digital collectibles from the world’s leading brands. The OMI token underpins the economy of ECOMI Collect and is needed for the sale and purchase of digital collectibles and other digital goods within the VeVe App. Digital streaming, gaming, in-app purchasing are all multibillion-dollar markets, and the next one to join this digital trend is the pop culture and collectibles industry. VeVe brings the physical world of collecting into the digital realm and offers collectibles in premium digital format as limited- edition 3D models, which users can place in virtual showrooms, trade or sell on a secondary market, share on social feeds, and view all 3D content in AR. VeVe works with leading licensors offering digital collectibles from 70+ brands including Batman, Superman, Harley Quinn, Wonder Woman, Ultraman, Back to the Future, NFL, MLB, Ghostbusters, and many more. With so much happening in the NFT space, BitMax is excited to be listing the OMI token for use in the VeVe app. This listing highlights BitMax’s commitment to supporting the rapid growth of the NFT ecosystem. About BitMax.io Launched in August 2018, BitMax.io is a leading digital asset trading platform with a broad range of financial products and services for both retail and institutional clients, with robust design ranging from cash to margin trading, derivatives trading, staking products, and other investment solutions. For more information and updates, please visit: Website: https://bitmax.io/ Twitter: https://twitter.com/BitMax_Official Telegram: https://t.me/BitMaxioEnglishOfficial Medium: https://medium.com/bitmax-io About ECOMI ECOMI is leading the way in the mass market digital collectible space. Their app, VeVe, offers the most comprehensive digital collectible experience, with premium format 3D digital collectibles, from the world’s leading brands. For more information and updates, please visit: Website: https://www.ecomi.com/ Twitter: https://twitter.com/ecomi_ Telegram: https://t.me/ecomi Medium: https://medium.com/veve-collectibles 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 think tank affiliated with the Iranian Presidency has unveiled a study report that encourages the use of cryptocurrencies in circumventing sanctions against the country. In addition, the report also claims the government could potentially “generate US$2 million a day and $700 million a year in direct revenue from cryptocurrencies.” Employment Opportunities Meanwhile, as reported by one local media outlet, the authors of the report say Iran can increase employment opportunities across its economy if it enables the creation of more bitcoin mining farms. In their report, the authors assert that: If large mining farms are established, the need to employ manpower for monitoring and repair, security, electrical engineers and technical staff related to hardware and software equipment will increase, which leads to more job opportunities in other sectors. The authors then go on to suggest that “for every megawatt of electricity consumption about nine people are directly employed.” However, the report seemingly urges the Iranian government to consider regulating cryptocurrency activities. In justifying this recommendation, the report states that “regulated cryptocurrency activity in Iran might also help to prevent foreign currency from leaving the country.” Beating Sanctions With Newly Extracted BTC Predictably, the report also touches on why cryptocurrency mining provides a unique opportunity for the Iranian government to circumvent sanctions. The report explains: As the newly-extracted bitcoins are not easily traceable, domestic economic actors can use newly-extracted cryptocurrencies, which are (more) preferable than (those already) existing on international exchanges. Also in the report, the authors claim that the creation of more cryptocurrency mining farms will help Iran to “reduce electricity losses.” In their conclusion, the authors urge the Iranian government to enable the “collective mining” of cryptocurrencies as well as the “creation of mining pools next to power plants where possible.” Do you agree that newly created bitcoins are not easily traceable? You can share your views in the comments section below. View the full article

The publicly listed Canadian bitcoin mining operation Bitfarms has announced the firm is purchasing 48,000 Microbt Whatsminer mining rigs in order to expand capacity. Bitfarms highlights the acquisition of new miners will up the company’s hashpower by approximately 5 exahash per second (EH/s). Bitfarms to Acquire 48,000 High-Powered Bitcoin Miners from Microbt The Canadian bitcoin (BTC) mining company Bitfarms (TSXV:BITF, OTC:BFARF) announced on Tuesday the company has entered an agreement where it plans to purchase 48,000 mining rigs manufactured by Microbt. The China-based firm Microbt is the manufacturer of Whatsminer devices, which are some of the most powerful application-specific integrated circuit (ASIC) machines in the world. For instance, the company’s Whatsminer M30S++ is the most-profitable SHA256 ASIC miner on the market today according to current data. Bitfarm’s announcement on Tuesday explains that Microbt has become the firm’s “supplier of choice.” During the last eight months, Bitfarms said it acquired 12,000 machines from the Chinese mining rig manufacturer. Bitfarms stressed that the firm expects the mining rig shipments to begin “on or before January 2022.” “The miners will be installed at our existing and new facilities which are currently in development,” the company said. Microbt said the mining manufacturer looks forward to providing the 5 EH/s worth of miner to Bitfarms. “We are very excited to enhance and expand our partnership with Bitfarms,” Vincent Zhang, Microbt’s global sales director said during the purchase announcement. “The miners to be supplied to Bitfarms are very reliable and stable. These miners will generate tremendous value to Bitfarms in its mining operations and [to] its investors,” Zhang added. Bitfarms CEO Alludes to the global Shortage of Semiconductor Wafers Furthermore, the CEO of Bitfarms, Emiliano Grodzki, explained the acquisition helps during a time of excessive demand for ASICs. “The supply of miners will be one of the greatest challenges for the foreseeable future due to a global shortage of wafers used to create semiconductor chips which is a vital component in mining rigs,” Grodzki detailed. “Our strategy will be to continue to grow our own infrastructure and professional operations and conduct mining in our own facilities which increase operational efficiency and profitability,” he added. News.Bitcoin.com reported last week that Chinese mining manufacturers are hard-pressed from demand and nearly every manufacturer of next-generation rigs are completely sold out. Even the Bitfarm announcement itself notes that delivery is slated for at least by or in January 2022 and “the final mining rigs expected to arrive in December 2022.” Many publicly listed mining firms have leveraged their massive buying power in order to procure ASIC mining rigs in advance. Moreover, Bitfarm’s 48,000 Microbt Whatsminer rig purchase, is the second-largest mining acquisition since Marathon Patent Group settled a record-breaking purchase for 70,000 high-performance Bitmain Antminer S19s at the end of 2020. Bitfarm’s deal announcement with Microbt did not disclose a dollar-purchasing amount for the 48,000 miners. Marathon did disclose in December that it spent $170 million in its agreement with the Chinese mining rig manufacturer Bitmain. What do you think about the purchase Bitfarms made in order to acquire 48,000 high-powered bitcoin mining rigs? Let us know what you think about this subject in the comments section below. View the full article

Wolfram Blockchain Labs (WBL) and Tezos are forging a full integration of Tezos into Wolfram Language and Wolframalpha. The integration gives easy access to developers that want to interact with the Tezos blockchain and their smart contracts. WBL-Designed Oracle Expands Tezos Developers’ Computational and Analytical Capabilities Amid the accelerating race to simplify smart contract deployment, Tezos continues to build on its latest momentum after integrating Wolframalpha and the Wolfram Language via Wolfram’s blockchain. Wolfram, a renowned computational technology provider, supplies computational languages and answer engines via its own distributed ledger technology. The two-way integration orchestrated by Wolfram Blockchain Labs (WBL) and the TQ Tezos is intended to allow both blockchains to pull and push data from each other. This integration is made possible by a Wolfram-designed blockchain oracle that allows Tezos developers to tap into Wolframalpha data and computational facts while granting Wolfram users the ability to analyze Tezos blockchain data. An oracle essentially serves as a bridge between two blockchains, allowing a blockchain to pull data from an external source similar to an API via an off-chain transaction. In the context of Tezos smart contracts, this oracle grants smart contracts the ability to pull computational data from Wolframalpha, like pricing data or other forms that might be needed to satisfy a contract condition or trigger an event. The analytical component of a smart contract can then be more readily automated without compromising security. More Secure and Reliable Smart Contracts The secure delivery of computational facts from Wolfram’s algorithmbase and knowledgebase via oracles perfectly complements the Tezos formal verification method, which corroborates smart contract properties’ correctness. Together, this means more shortcuts for developers as they seek to build more secure and reliable smart contracts. By extension, this expanded functionality not only bolsters the Tezos development ecosystem but dovetails other moves like recent upgrades which have drastically reduced smart contract transaction fees. Moreover, the tie-up enlarges the potential for Wolfram Blockchain users to mine Tezos’ blockchain with statistical queries that effectively analyze smart contract activity. The self-upgrading nature of Tezos and the constantly expanding toolkit marks another major milestone for this third-generation blockchain. Wolfram has also indicated that developers’ tools would continue to broaden as the collaboration grows amid reports that Wolfram is exploring a role as a “baker” in Tezos proof-of-stake (PoS) blockchain. What’s next for smart contracts? Where else do you see them being implemented? Let us know in the comments section below. View the full article

PRESS RELEASE. xSigma, a decentralized exchange for stablecoin swaps, has successfully launched on the Ethereum network on February 24, 2021. The integrated DEX and liquidity mining platform xSigma, which is backed by a NASDAQ-listed company, has seen great interest in its stablecoin liquidity pools which enable assets to be swapped seamlessly and with minimal slippage. Within the xSigma ecosystem, liquidity providers (LPs) earn SIG tokens, with a 2x bonus to bootstrap liquidity in place for the next fortnight. SIG is the platform’s native utility token with built-in voting and value accrual mechanisms. $150 million of liquidity has been pooled in xSigma DEX (as of February 28) and almost $10m of SIG has been allocated to LPs. Pool 1 and 2 continue to offer some of the highest yields in the defi space, at 125% and 2700% respectively. DEX volume has surpassed $700k per day. $20m worth of SIG tokens were traded on launch day and there is over $100 million of stablecoins pooled, comprising USDC ($40m), USDT ($40m) and DAI ($23m), as of 1st March. The SIG token has also been listed on major aggregators such as CMC and CoinGecko. xSigma recently integrated into 1inch.exchange, the leading DEX aggregator. About XSigma xSigma is a stablecoin DEX powered by a governance token that gives holders the right to determine how the protocol should be managed. Token-holders receive a percentage of all DEX fees, with team and LP tokens vested gradually for two years to align incentives between the platform and its community. xSigma is backed by its parent company ZK International Group, a NASDAQ-listed corporation. 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