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PRESS RELEASE. 25 February 2021 – Animoca Brands, the developer and publisher of the successful blockchain games F1® DeltaTime and The Sandbox, is further expanding its push to bring mainstream consumers to blockchain by announcing that MotoGP™ Ignition, the competitive management and collectibles game platform based on MotoGP™, will be built on the Flow blockchain, with the first content sale to begin 26 March 2021. Flow was originally created by Dapper Labs, the company behind NBA Top Shot and CryptoKitties. MotoGP™, managed by Dorna Sports, S.L., is the oldest motorsports championship in the world, featuring the fastest riders and the most technologically advanced prototype racing motorcycles on the planet. MotoGP™ Ignition will allow fans to own and trade collectibles of their favorite MotoGP™ bikes and personalities on blockchain. MotoGP™ Ignition will deliver two forms of MotoGP™ branded experiences centered around limited-edition non-fungible tokens (NFTs): a digital collectibles platform where users buy and sell cards of varying rarity, and a racing manager game. The game’s racing management experience will offer the bikes, riders, and champions of MotoGP™ as NFT collectibles that players use to assemble their racing teams to compete against other players. Yat Siu, the co-founder and chairman of Animoca Brands, said: “We are very excited to begin launching MotoGP™ Ignition in the coming months and are absolutely thrilled to be the next major sports brand on the Flow blockchain after the success of NBA Top Shot.” Collectibles in the first ever MotoGP™ Ignition sale will be purchased using fiat currency with payment via credit card, and also using REVV, the utility token and in-game currency for branded motorsports blockchain games (learn about REVV in this video). Flow blockchain is uniquely positioned to enable big brands to deliver richer user engagement and unique experiences, such as digital ownership or provable scarcity, in addition to offering access to a global, open ecosystem at launch. Coupled with innovative technology that allows for scalability without compromising decentralization, Flow offers unparalleled user experience for mainstream audiences. “Flow is the perfect platform for high quality developers like Animoca Brands to build on because it provides the opportunity to scale,” said Roham Gharegozlou, CEO and founder of Dapper Labs, creator of the Flow blockchain. “MotoGP™ has done a fantastic job of engaging millions of fans of motorsports around the world, and those fans deserve a great, stable, fast experience.” Pau Serracanta, Managing Director of Dorna Sports S.L., commented: “We are delighted to continue working with Animoca Brands and announce MotoGP™ Ignition, offering fans the chance to own and trade collectibles on blockchain – curating their own collections as well as competing against each other in the racing management experience. The digital sphere has been a key focus for Dorna for many seasons and we are delighted to give our hundreds of millions of fans around the world yet another opportunity to interact with their favourite sport and get involved with MotoGP™.” The first MotoGP™ NFT collectible sale will begin on 26 March 2021. To receive news about the sale and other updates about MotoGP™ Ignition please sign up at https://motogp-ignition.com/. About Flow Flow is a fast, decentralized, and developer-friendly blockchain, designed as the foundation for a new generation of entertainment apps, games and the digital assets that power them. Flow is the only layer-one blockchain originally created by a team that has consistently delivered great consumer blockchain experiences: CryptoKitties, Dapper Wallet, NBA Top Shot. Flow boasts a rich ecosystem of top entertainment brands, development studios, and venture-backed startups. Flow ecosystem partners include global IP brands like Warner Music, Ubisoft, NBA and UFC; leading game developers, including Animoca Brands, Sumo Digital and nWay; and many leaders in the crypto space such as Circle and Binance. About Dorna Sports Dorna Sports, founded in 1988 and based in Madrid, Spain, with subsidiaries in Barcelona and Rome, is a world leader in sports management, marketing, and media. Dorna Sports took over management of the MotoGP™ World Championship in 1991 and is the exclusive commercial and television rights holder of the series, as well as of the MOTUL FIM Superbike World Championship (WorldSBK), the FIM Enel MotoE World Cup, the FIM CEV Repsol, the Idemitsu Asia Talent Cup and the British Talent Cup. About Animoca Brands Animoca Brands is a leader in the field of digital entertainment, specializing in blockchain, gamification, and artificial intelligence technologies to develop and publish a broad portfolio of products including the REVV token and SAND token, games such as The Sandbox, Crazy Kings, and Crazy Defense Heroes, as well as products utilizing popular intellectual properties such as Formula 1®, Marvel, WWE, Garfield, Snoopy, Power Rangers, MotoGP™, Formula E, and Doraemon. Animoca Brands’ portfolio of blockchain investments and partnerships includes Lucid Sight, Dapper Labs (creators of CryptoKitties), WAX, Harmony, and Decentraland. The Company is based in Hong Kong, United States, South Korea, Finland, Argentina, and the Czech Republic. Subsidiaries include The Sandbox, Quidd, Gamee, and nWay. For more information visit www.animocabrands.com or get updates by following Animoca Brands on Facebook or Twitter. Contact: press@animocabrands.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 U.S. Securities and Exchange Commission (SEC) says it has revoked the registered securities of Long Blockchain Corp (LBCC) after the company failed to file annual reports since Dec. 31, 2017. In addition, the SEC says LBCC, which made the switch from soft drink production to activities related to blockchain technology in December 2017, is also “delinquent in filing quarterly reports.” Non-Existent Blockchain Business In a document that reveals the proceedings against LBCC, the SEC, which cites the Securities Exchange Act of 1934, says its decision (to revoke securities) is intended to protect investors. The SEC adds that an investigation had found that after the name change from Long Island Iced Tea Corp to LBCC, the listed company’s “blockchain business never became operational.” Meanwhile, concerning the status of LBCC’s common stock, the SEC said the following: The common stock of LBCC was registered under Section 12(b) of the Exchange Act and traded on Nasdaq until Nasdaq filed a Form 25 on June 6, 2018, to delist the securities. LBCC stock is currently quoted on OTC Link whose parent company is OTC Markets Group, Inc, having not filed “a form 10-Q” since the period ended September 30, 2018. LBCC Agrees to Settle In the meantime, the SEC says LBCC has since “submitted an Offer of Settlement which the Commission has determined to accept.” According to the SEC, this revocation became effective as of Feb. 22, 2021. The revocation of the registration of each class of LBCC’s securities by the SEC is the latest setback for the company. As reported by news.Bitcoin.com, LBCC’s December 2017 plot to associate itself with the blockchain technology may have helped to trigger the 400% single-day price surge. However, this change in fortunes would prove to be short-lived as the Nasdaq Listing Qualifications Department would later institute delisting proceedings against LBCC’s common stock. What are your thoughts on the SEC’s revocation of the registration of LBCC’s securities? You can share your views in the comments section below. View the full article

The coronavirus pandemic has significantly hit several entertainment routines of the people worldwide, and South Korea is not an exception. PC gaming rooms had to shut down in the country, but their owners found a way to make profits during the lockdown by participating in crypto mining. A PC Bang Owner Made Over $3,000 Worth of Ethereum in Two Weeks According to Chosun, operators of the “PC bangs,” a common term used for the PC gaming rooms in South Korea, leverages their computers to take advantage of the pandemic-driven restrictions. In fact, owners don’t have certainties on whether or not they can re-open their businesses, and that’s why crypto mining is now an alternative to deal with right now. Some PC bang owners in Seoul are mining ether (ETH) by relying on highly-equipped computers with top-notch graphic cards. A 34-years-old man named Kim stated that the number of customers reduced significantly due to the pandemic, and his PC bang couldn’t be sustainable with such a situation. He’s now mining ETH with almost 36 computers. In just two weeks, Kim claimed he earned over 3.5 million won ($3,153), given in the context in the coldest month of the year because of the winter’s peak. PC bang operator praised the current weather conditions, as he saves heating costs by mining cryptos at the same time. Mining Remains Alive as PC Bang Owners Await a Green Light to Re-Open Moreover, in South Korea, Chosun states that a PC gaming room’s electricity service is not charged for home use but with regular prices. But the report states that the crypto mining fever across PC bangs might not last too long, as graphic card prices keep increasing. However, some of the operators are confident in the current crypto bull-run, as there’s no deadline set to re-open doors for businesses like theirs. Recently, Prime Minister Chung Sye-kyun stated that although vaccinations have been slower, the government expects to achieve herd immunity by the autumn. What do you think about this maneuver made by the PC gaming room owners? Let us know in the comments section below. View the full article

Thailand seeks to introduce a new set of rules for retail crypto investors, specifically targeting those who want to open accounts. The Thai financial watchdog could require domestic crypto exchanges to ask traders for proof of income. Thai SEC Could Also Ask Crypto Investors to Prove Their Knowledge of the Market According to a Bloomberg report, the Securities and Exchange Commission (SEC) of Thailand is likely preparing the ground to require investors to show their income or assets before opening accounts. Ruenvadee Suwanmongkol, the secretary general of the country’s financial watchdog, pointed out that anyone who isn’t allowed to trade cryptocurrencies via their accounts can invest through licensed managers. She added: It’s a big concern as most crypto investors on domestic exchanges are very young, such as students and teenagers. We realize those people love innovations and technology, but investments in these assets have enormous risk. Moreover, the general secretary said that non-qualified crypto traders could invest via financial advisers only if they’re licensed by the SEC. The watchdog is set to unveil its new rules on crypto trading over the week, ahead of a public hearing scheduled for March. Officials involved in the meetings are expected to evaluate recommendations from local exchanges and brokerages. Although it’s not confirmed, the general secretary suggested that investors have to prove some knowledge of the market before being allowed to open crypto accounts for trading. Six Licensed Crypto Exchanges Operating in Thailand so far The rhetoric from the Thai SEC is now shifting to a cautious one towards the cryptocurrencies’ risks. However, they keep granting licenses to crypto businesses in the nation. So far, in terms of digital asset exchanges approved, there are only six operating legally in Thailand. They are Bitkub, BX, Satang Pro, Huobi Thailand, ERX, and Zipmex. All six licensed crypto exchanges are approved for both cryptocurrencies and digital tokens, except for ERX, which is only approved for the latter. The SEC distinguishes cryptocurrencies as “created for the purpose of being a medium of exchange for the acquisition of goods, services, or other rights.” On the other hand, digital tokens are created “for the purpose of specifying the right of a person to participate in an investment in any project or business, or to acquire specific goods, services, or other rights under an agreement between the issuer and the holder,” said the financial watchdog. What do you think about the words from the Thai SEC general secretary? Let us know in the comments section below. View the full article

Microstrategy has purchased an additional $1.026 billion worth of bitcoin, raising the total number of bitcoins it has accumulated to about 90,531. Its CEO explained that his company remains focused on its two corporate strategies of growing its enterprise analytics software business and “acquiring and holding bitcoin.” More Than $2 Billion Worth of Bitcoin Now in Microstrategy’s Treasury Reserves Microstrategy Inc. announced Wednesday that “it had purchased an additional approximately 19,452 bitcoins for approximately $1.026 billion in cash at an average price of approximately $52,765 per bitcoin, inclusive of fees and expenses.” The announcement continues: As of February 24, 2021, the company holds an aggregate of approximately 90,531 bitcoins, which were acquired at an aggregate purchase price of approximately $2.171 billion and an average purchase price of approximately $23,985 per bitcoin, inclusive of fees and expenses. The company used the proceeds from its $1.05 billion convertible note offering which it completed last week to purchase the additional bitcoins. The pro-bitcoin CEO Michael Saylor explained that his company “remains focused on our two corporate strategies of growing our enterprise analytics software business and acquiring and holding bitcoin.” The amount of bitcoin the company holds reaffirms its “belief that bitcoin, as the world’s most widely-adopted cryptocurrency, can serve as a dependable store of value,” Microstrategy explained. What do you think about all the bitcoins Microstrategy has been buying? Let us know in the comments section below. View the full article

PRESS RELEASE. February 24, 2021 – xSigma, a decentralized exchange for stablecoin swaps, has announced details of its launch program. The DEX, which supports liquid swaps between stablecoin pairs, will go live on February 24, having passed a third-party security audit. Blockchain security company Hacken audited the xSigma smart contracts and found no critical errors in the code, green-lighting the Ethereum-based exchange to launch as scheduled. A second security audit is underway to give the xSigma community additional confidence in the code powering the AMM. Backed by a NASDAQ-listed company, and developed by an experienced team that includes former Google engineers, xSigma has secured the support of several high profile backers. These include NBA star Dwight Howard, who has committed to participating in the xSigma launch as an early liquidity provider (LP). LPs will earn double rewards for the first fortnight to incentivize adoption and ensure a liquid environment for executing stablecoin swaps with minimal slippage. Ahead of its launch, xSigma has created a detailed guide for liquidity providers, walking them through the process of LP’ing and staking their pool share tokens to earn SIG, the protocol’s native governance token. In addition to providing LP rewards for pooled USDT, USDC, and DAI, xSigma will incentivize a Uniswap liquidity pool for ETH/SIG. The xSigma DEX is scheduled to launch on February 24 at 13:00 EST (18:00 UTC), ushering in a new era for efficient stablecoin swaps. 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

Indian billionaire Rakesh Jhunjhunwala, sometimes referred to as the Warren Buffett of India, says that the government should ban bitcoin. Calling the cryptocurrency “speculation of the highest order,” the billionaire investor stated that he will never buy bitcoin. Billionaire Rakesh Jhunjhunwala Thinks Indian Government Should Ban Bitcoin Rakesh Jhunjhunwala believes that the Indian government should step in and ban bitcoin, CNBC reported Tuesday. Jhunjhunwala, who currently manages his own investment portfolio as a partner at asset management firm Rare Enterprises, is sometimes known as the “Warren Buffett of India” and the “King of Bull Market.” Jhunjhunwala was quoted as saying: I think regulators should step in and ban bitcoin. And they should focus on the digital rupee. The Indian government is planning to introduce a cryptocurrency bill in the current parliament session. The bill provides a regulatory framework for the digital rupee to be issued by the central bank, the Reserve Bank of India (RBI), but bans all private cryptocurrencies. The finance ministry recently confirmed that the bill is being finalized and would soon be presented to the cabinet for approval. Meanwhile, the price of bitcoin has risen sharply over the recent months but has since retracted over the past few days. At the time of writing, the price of BTC stands at $50,630, which is more than a 73% increase since the beginning of the year, according to data from markets.Bitcoin.com. The Internet and Mobile Association of India (IAMAI) emphasized last week that cryptocurrencies and the digital rupee can co-exist and that the central bank does not need to ban bitcoin in order to launch the digital rupee. “Existence and use of crypto assets by Indian consumers open up a wide scope for Indian entrepreneurs to issue such currencies and it is likely that Indians who comprise 15% of global buyers will prefer an Indian crypto asset,” the association detailed. Jhunjhunwala further said on Tuesday that he “will never buy bitcoin,” elaborating: I think it’s speculation of the highest order. I don’t want to join every party in town. I think the hangover is much worse. What do you think about Jhunjhunwala’s view on bitcoin? Let us know in the comments section below. View the full article

While the public prepares for the upcoming Coinbase public offering, the mining firm Northern Data AG is reportedly planning to go public as well. Sources say that the mining business is in talks with Credit Suisse Group to launch an initial public offering (IPO) in the United States. Report: Sources Say Northern Data AG IPO for $500 Million Is in the Works Recent reports say that Northern Data AG, the mining operation that mines bitcoin (BTC), is planning to IPO in the near future. Bloomberg reveals that “sources familiar with the matter” have told the publication that Northern Data AG is “working with Credit Suisse Group AG.” Northern Data claims to be one of the largest mining operations worldwide and on November 18, 2019, the German company teamed up with Whinstone US, Inc., a Louisiana-based firm. At that time, Northern Data detailed that the merger agreement with its U.S. competitor Whinstone would position the firm as a “leading global player” in the bitcoin mining industry. Northern Data claims the mining site in the U.S. state of Louisiana will be “by far the largest bitcoin mining facility worldwide with a capacity of one gigawatt on an area of over 100 acres in Texas.” The Bloomberg report reveals that Northern Data’s IPO could happen this year and the sale of the company’s shares would increase shareholders. Northern Data’s shares already swap over-the-counter (OTC) on Deutsche Börse’s Xetra. Since bitcoin (BTC) prices tumbled during the last 48 hours, Northern Data’s shares sold on Xetra are down -11.51% today. However, the company’s stock has jumped 3x already this year alone since BTC’s climatic price rise. Company Aims to Complete 1-Gigawatt US Bitcoin Mining Operation by the End of 2021 Northern Data also reportedly owns and operates a renewable energy bitcoin mining site in Norway. The bitcoin mining operation is led by CEO Aroosh Thillainathan and the massive U.S. mining site is being constructed in three phases. Besides the other mining sites, the Rockdale, Texas facility aims to be the company’s largest to date. With two more months left in Q1 2021, Northern Data is hoping to finish the 1-gigawatt establishment by the year’s end. Back in 2019, Thillainathan, the cofounder of Whinstone US at the time, said “the joint [partnership] has the immediate potential to shape the future course of the global mining industry.” Reports of Northern Data’s alleged IPO follow the upcoming Coinbase direct sale, as the San Fransico company has been valued at $100 billion. Northern Data’s IPO aims to raise $500 million according to sources. What do you think about Northern Data reportedly planning to IPO with Credit Suisse Group AG? Let us know what you think about this subject in the comments section below. View the full article

Bitfinex and Tether have been banned from operating in New York and must pay a fine of $18.5 million as part of a settlement with the New York Attorney General’s (NYAG’s) office over a case dating back to 2019. In a statement on Tuesday, NY Attorney General Letitia James accused the two entities of hiding severe losses from investors. “Bitfinex and Tether recklessly and unlawfully covered-up massive financial losses to keep their scheme going and protect their bottom lines,” said James. She continued: “Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie. These companies obscured the true risk investors faced and were operated by unlicensed and unregulated individuals and entities dealing in the darkest corners of the financial system.” Per the statement, an NY Attorney General’s investigation found that the companies made false statements about the backing of tether, with Bitfinex using Tether’s funds to clandestinely cover an $850 million financial hole at its bank Crypto Capital in Panama. According to the investigation, from 2017, Tether had no access to the banking system and did not have reserves to back the tether (USDT) in circulation at the time. Bitfinex stresses that it did not lose any money, claiming Crypto Capital’s funds were confiscated by governments in Portugal, Poland and the U.S. Bitfinex and Tether have now been barred from having any trading activity with the citizens of New York, as a result. The NYAG requested that the two companies submit regular reports on core business functions. Tether must also offer public disclosures, by category, of the assets backing tether, including disclosure of any loans or receivables to or from affiliated entities. Tether published a statement on Tuesday “admitting to no wrongdoing.” It argued: The Attorney General’s Office concluded, in essence, that we could have done better in publicly disclosing these events. Contrary to online speculation, after two and half years there was no finding that Tether ever issued tethers without backing, or to manipulate crypto prices. What do you think about Bitfinex and Tether settling with the NYAG’s Office? Let us know in the comments section below. View the full article

A decentralized finance (defi) protocol announced that it officially acquired an initial coin offering (ICO) listing platform. Jigstack, who bought icorating.com, will migrate all the platform’s assets to its Lemonade’s solution. Jigstack’ Direct Email Database on Icorating.com According to the announcement, the defi protocol, which acts as a decentralized autonomous organization (DAO), bought the website to boost its multi-chain token launch solution Lemonade. Robert Weir, Jigstack’s COO, told news.Bitcoin.com that icorating.com acquisition is a “commercial trifecta for Lemonade” as they own “commercially relevant data, a database of over 30,000 active crypto investors.” In fact, they seek to boost exposure for projects launching through Lemonade. In Lemonade, anyone can create a token sale in a matter of minutes, including adjusting the token lock sequences, vesting periods, and overall token distribution logistics, added Weir. For projects launching on Lemonade, Jigstack COO commented: They now have instant exposure to over 30,000 investors on Twitter and our direct email database and user traffic on the Icorating website. Partnership With Ethereum Startup Polygon Per the fees offered in the launchpad following the integration, the company says that it requires a flat 1% fee of the tokens, a 0.5% marketing bounty, and a 1% share of the tokens for the network vault. Weir further added: For the Lemonade platform, we just acquired one of the most comprehensive data sets in the crypto space. Specifically relevant for crypto-based fundraising and the investment space. Icorating.com has been operating as one of the biggest players in the crypto fundraising space since 2016. For investors, we’ve now significantly boosted our digital footprint and overnight injected tens of thousands of new investors into the Lemonade and Jigstack network. Recently, Jigstack partnered with Polygon — formerly Matic Network — by seeking to reduce gas fees and improve the Ethereum defi ecosystem’s performance. What do you think about the announcement made by Jigstack DAO? Let us know in the comments section below. View the full article

The popular trading card company Topps has just launched the “2021 Garbage Pail Kids Food Fight” series today, and the trading card packs are being sold at Target and Walmart stores. Not only will the Garbage Pail Kids (GPK) series provide people with collectible cardboard trading cards, Topps has also inserted blockchain-based rare code cards, which can be redeemed for exclusive GPK non-fungible token (NFT) collectibles on the Wax blockchain. Blockchain and GPK Since the eighties, the Garbage Pail Kids (GPK) has been a popular trading card series created by the company Topps. The firm Topps was founded in 1938 and has created collectible cards for a myriad of sports and hobbies for decades. Topps also owns Bazooka bubblegum, Ring Pop, Push Pop, and Baby Bottle Pop candies. The Garbage Pail Kids launched in 1985 and were distributed by the trading card company Topps. GPK artwork was originally designed by the artists’ John Pound, Tom Bunk, Joe Simko, and Layron DeJarnette. In 2020, Topps launched the first iterations of digital GPKs on the Wax blockchain as shown above. More recently, GPK cards have grown in popularity again, after making headlines back in the eighties. Series one packs of GPK originals from 1985, specifically the glossy card series, can rake in thousands of dollars. Meanwhile, since the birth of Bitcoin, blockchain technology has transformed not only finance, but other industries like art and collectibles. Last year, Topps joined forces with the wax.io (Wax blockchain) team and released the first iterations of digital GPK collectibles. “Blockchain technology allows collectors to enter a marketplace where they can purchase digital Garbage Pail Kids trading cards,” the Topps website called topps.wdny.io notes. “[Collectors can] propose and execute trades, showcase their inventory on social media, and search wishlists of other traders.” Topps Launches 2021 Garbage Pail Kids Food Fight Series With Chances to Win Wax Blockchain GPK NFTs The blockchain Wax allows people to create, buy, sell, and trade virtual NFTs and physical items as well. Since 2017, the Wax network claims it has facilitated more than 100 million digital item swaps. This week, Topps is releasing the “2021 Topps Garbage Pail Kids Food Fight” series, which will be sold like any other annual GPK sets at Targets and Walmarts. Boxes and packs of physical cards will have a chance to win a rare code card that can be used to redeem GPK Wax blockchain collectibles. The announcement details that there are 11 original pieces and a number of exclusive digital variants. “On Feb. 24, 2021, Topps is releasing physical packs in Walmart and Target. On Feb 25, 2021, the digital version will be released on the Wax blockchain,” Topps said during the announcement. “Physical card collectors may also receive an exclusive redemption code card in the physical packs that will award exclusive digital collectibles on the Wax blockchain. Further Digital packs for the exclusive ‘b’ character names can be purchased directly on Wax during Topps Digital’s Wintercon 2021 beginning on February 25.” GPK fans can check out the cards at the wax.io website. Topps executive and Topps Digicast Host, Marc Seal further said: When I joined Topps two years ago, our VP, Tobin Lent, and I had discussed blockchain in depth and what it could mean for digital collectibles. We both, along with many others at Topps, see the amazing potential for blockchain. Non-fungible tokens and blockchain-based collectibles have been all the rage since 2020 and millions of dollars in trades have been executed on NFT marketplaces. Just recently, individuals have been trading the NFT-based basketball trading cards called “NBA Top Shots.” On Monday, 27,000 unique individuals purchased NBA Top Shots cards and volume topped more than $32 million in sales. What do you think about Topps and the Wax blockchain team releasing digital GPK cards in physical packs at select Target and Walmart stores? Let us know what you think about this subject in the comments section below. View the full article

PRESS RELEASE. Hong Kong, February 23, 2021 – CoinEx, a global and professional cryptocurrency exchange service provider, announced on last Saturday that it has finished a historic burn of 1.08 billion locked CoinEx Token (CET) allocated to the CoinEx team for team building and market development at one time. This CET token burn is the highest one ever carried out by the exchange. After this burn, the total circulation is 4.34 billion CET, with a market capitalization of approximately 113 million USD. At present, the amount of CET automatically repurchased by CoinEx each day far exceeds the mining output of CoinEx Chain. CET token has officially entered absolute deflation，and became a fully circulating platform token. Through this initiative, CoinEx provides CET holders with greater long-term value. CoinEx Pioneers Daily Repurchase Mechanism CET’s original quarterly repurchase and burn initiative was launched on July 1, 2018, and was adjusted to daily repurchase and quarterly burn on April 11, 2020. CoinEx repurchases CET in the secondary market with 50% of its daily profits from transaction fees everyday, and burns them at the end of each quarter. When the circulating supply of CET reduces to 3 billion, CoinEx will suspend the CET repurchase and burning. Driven by strong growth, CoinEx’s revenues put towards its token burning plan represents a great increase these days. Users can view the datas in real time at https://www.coinex.com/token , which ensures that the entire process is open and transparent. More Privileges for CET Holders in the CoinEx Ecosystem Issued in January 2018, CET is a value-added services & privileges scheme based on CoinEx’s ecosystem. CET is issued on Ethereum ERC20 protocol and has been launched on the CoinEx Chain and acts as gas. Beyond its ongoing repurchase and burn initiative, CET holders can also benefit from multiple privileges when trading on the platform. CET can be deducted directly with the same market value as transaction fee at a dedicated discount. Users with a certain amount of CET can become VIP to experience services such as fee discount, withdrawal acceleration, exclusive customer service, and so on. Moreover, CET holders will also enjoy special privileges for promotional campaigns on CoinEx, including token airdrop incentives, voting for token listing, and qualify project investment opportunities. “2021 will see more improvements from CoinEx. With the expansion of our ecosystem in the future, CET will have more application scenarios and bring more advantages for our users,” said Haipo Yang, Founder and CEO of CoinEx. About CoinEx As a global and professional cryptocurrency exchange service provider, CoinEx was founded in December 2017 with Bitmain-led investment. It is a subsidiary brand of the ViaBTC Group, which owns the fifth largest BTC mining pool and is also the largest BCH mining pool in the world. CoinEx supports spot, perpetual contract, and other derivatives trading. Its service reaches global users in nearly 100 countries/regions with various languages available, such as Chinese, English, Korean and Russian. Website: https://www.coinex.com/ Twitter: https://twitter.com/coinexcom Telegram: https://t.me/CoinExOfficialENG Contact Jessica Zhang CoinEx PR Department jessica.zhang@coinex.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

A pro-bitcoin head of digital assets from TD Ameritrade has been appointed as the Federal Reserve System’s chief innovation officer. This is “a new role in which she will lead efforts to identify, research, enable and advocate for new technologies,” the Fed explained. The Fed’s New Chief Innovation Officer Is Pro-Bitcoin The Federal Reserve Bank of Richmond serves as the hub of the Federal Reserve’s enterprise IT organization. This nationwide team delivers technology solutions and support across the Federal Reserve System and the Board of Governors. The Richmond Fed announced Monday: Sunayna Tuteja has been appointed as the Federal Reserve System’s chief innovation officer. The announcement explains that this is a new role and Tuteja “will lead efforts to identify, research, enable and advocate for new technologies while fostering a culture of innovation, collaboration and experimentation.” The appointment became effective on Feb. 22. Prior to joining the Fed, Tuteja worked at TD Ameritrade, one of the largest online brokers in the U.S., where she was head of digital assets. She also previously served as head of strategic partnerships and emerging technologies as well as head of digital strategy, experience and innovation at the company. The crypto community sees Tuteja’s appointment as bullish. Lawyer Jake Chervinsky opined, “Continuing the trend of leadership roles in government being filled by extremely talented people with deep crypto knowledge & experience.” Bitcoin bull Mike Novogratz congratulated Tuteja, tweeting, “This is a big deal.” Tuteja shared her thoughts about bitcoin and its supporters in a series of tweets on Dec. 16, 2020. The former head of digital assets at TD Ameritrade wrote: [The] Thing I admire most about the bitcoin community is resilience. Sheer amount of shade & schadenfreude directed at bitcoin and the community over the years is enough to make anyone curl up into a ball. “Yet like bitcoin, this is a community that keeps bouncing back every time they are written off, and bounce back stronger, having been stress tested in ways expected and unexpected,” she continued. “I am sure there are many twists and turns yet to come that we’ll have to suit up and slay … but for today, take a moment and enjoy the power of this movement.” What do you think about the Fed appointing a pro-bitcoin chief innovation officer? Let us know in the comments section below. View the full article

More details keep appearing from the police investigation into the 2018 Coincheck hack that stole $530 million from the crypto exchange. Japanese authorities revealed that most of the individuals involved have a “high social status.” One of the Individuals Took Part in a NEM Swap Deal Is Worth $64 Million According to a report published by Bunshun, “the majority” of the men involved in the case are “high income” individuals. In fact, they come from different professional backgrounds, such as being company managers and doctors. Prosecutors said the individuals are aged between 20 and 49, without giving major details on their profiles. However, the latest findings suggest that one of the heist people took part in a bogus transaction with NEM (XEM) tokens. Per the Cybercrime Countermeasures Division, the individual allegedly took part in a NEM swap with another token (unnamed) in a transaction worth $64 million at the exchange time. But the investigation is still having significant difficulties to advance. At least that’s what the Japanese authorities have been saying recently because the whereabouts of two-thirds of the missing tokens are still unknown. There are no hints on where these tokens could have ended. Unknown Whereabouts of Around Two-Thirds of the Stolen Tokens The Cybercrime Countermeasures Division is a unit from the Life Safety Department of the Metropolitan Police Department in Japan. The team comprises former hackers who worked for top-class companies. They also suspect that crypto assets stolen are probably in overseas exchanges. Still, there are no indications of alleged cybercriminals in the Coincheck hack cashing stolen tokens into fiat in domestic crypto companies. As news.Bitcoin.com reported early in January, Japanese police charged 30 people for their alleged involvement in illegal transactions linked to the well-known $530 million Coincheck hack in 2018. Tokyo authorities traced all individuals’ transactions to different places across the nation. Coincheck’s theft remains the biggest in the cryptocurrency industry, together with the Mt Gox hack of 2014. What are your thoughts about the report from the Japanese media on the Coincheck hack? Let us know in the comments section below. View the full article

On February 22, 2021, an author published a post on substack.com about an anonymous Twitter account that may have belonged to the mysterious Satoshi Nakamoto. The researcher discovered a Twitter account dubbed ‘Goldlover,’ and found some interesting coincidences with the account’s tweets and Bitcoin’s creator. The Curious Goldlover Tweets An author called Varun published an interesting analysis of a specific Twitter account that may or may not belong to Bitcoin’s creator. Varun said in his research analysis that he stumbled upon the Twitter account called ‘Goldlover,’ and noticed that the account was quite “chatty” for a period of time. Running bitcoin — halfin (@halfin) January 11, 2009 The researcher also said that Satoshi Nakamoto was the same way up until the inventor left the community for good. The Goldlover account (@fafcffacfff) was created in May 2008 and Varun says that a script was written. The Goldlover tweets mentioned gold quite often, and Varun’s findings suggest that the ‘gold’ terminology may be in reference to “Bit Gold.” “The Wall of Interesting Tweets” compiled in Varun’s blog post. (Image credit: Varun – offthetrack.substack.com) “On September 17th, 2008, this account made a reference to Digital Gold Currency,” Varun’s post highlights. “In between an incredible amount of nonsensical tweets about gold, sometimes there would be tweets which referenced decentralization, financial crisis, people losing their homes, fiat currency, criticism of the Federal Reserve,” Varun says. “These are all hallmarks of talking points used by Satoshi in his emails and forum posts which are well known, post-Bitcoin announcement.” For instance, on December 19, 2008, Goldlover said: The Great Stock Panic of 2008 was so mercilessly brutal that no sector escaped its ravages. What is also quite interesting is that no other Twitter accounts back in January 2009, except for Hal Finney, tweeted about Bitcoin. “Based on all of this, this is good enough for me to feel quite confident that this indeed was Satoshi’s original anonymous Twitter account,” Varun notes. On January 11, 2009, Hal Finney tweeted about the crypto asset and not too long after that Goldlover wrote: “From: Satoshi Nakamoto – 2009-01-11 22:32 Bitcoin v0.1.2 is now available for d.” The very same day on January 29, 2009, Goldlover also said: It's completely decentralized with no server or trusted parties. Exploring the Limitless Depths of Satoshi’s Mind Ever since Varun published his post about the alleged Satoshi Nakamoto Twitter account, people have been interacting with Goldlover’s 12-year-old tweets. “Thanks for changing the world Satoshi,” an individual wrote on Monday. If you know where there are oranges in the sky in Winter Garden, you are on the right track for locating a treasure box. — GoldLover (@fafcffacfff) February 11, 2009 “Feeling sufficiently anonymous with this cryptic account run since May 2008, this might have been a slip to now start linking up and showing up as the 2nd tweet ever to mention Bitcoin,” Varun’s substack.com blog post states. “If Hal was Satoshi, then why continue tweeting from this unknown account, which barely had any followers?” Varun asks. The researcher said that he could have slept in every Saturday morning, but this Twitter account had him on the hunt for Nakamoto. The report concludes: Having concluded this was Satoshi – we don’t know who, the rest of the tweets now provide an insight into his mindset, and each tweet here needs to be branched out and explored in limitless depths. At the end of Varun’s theory, he left a mysterious tweet from Goldlover which talks about a treasure box with oranges in the sky. “If you know where there are oranges in the sky in Winter Garden, you are on the right track for locating a treasure box,” Goldlover tweeted. Just recently a group of armchair sleuths have been on the hunt for Satoshi’s stash of bitcoins because they believe Nakamoto left the coins to be the greatest treasure hunt ever. Despite the coincidences and the extremely old and cryptic tweets from Goldlover, we don’t know for sure if the Twitter account actually belonged to Satoshi, but today many people are speculating. What do you think about the Goldlover Twitter account that may belong to Satoshi Nakamoto? Let us know what you think about this subject in the comments section below. View the full article

On February 19, the Canadian podcaster and Freedomain Radio host, Stefan Molyneux, discussed his thoughts about bitcoin following the crypto asset’s tumultuous rise capturing over a trillion-dollar market valuation. Molyneux’s recent speech describes the liberating potential bitcoin could bring to the masses and how the crypto network has the ability to change humanity for the better. ‘Bitcoin Is a Currency That Serves the People at the Expense of the Parasites’ Just recently the crypto evangelist and philosopher, Stefan Molyneux, spoke about the Bitcoin blockchain in great detail. Molyneux opened his speech by answering a question about BTC and ETH having a hard time scaling. The Freedomain radio host said that it is good to critique, but that people in the crypto space wouldn’t give up so easily. Molyneux mentioned that bitcoin’s market capitalization just crossed the trillion-dollar milestone and noted that the people who have added that value won’t throw in the towel. He insisted that many crypto proponents have given a decade of their lives toward spreading adoption, and mentioned there are solutions like bitcoin cash (BCH) and the Lightning Network. “The Bitcoin community is composed of just about the most brilliant, and economically and ideologically motivated human beings on the planet,” Molyneux stresses in his video. “Bet against them at your freaking peril, because Bitcoin is not just an alternative currency, it’s not just a store of value, it’s not just a cool public ledger. Bitcoin is a passionate FU to the powers that be,” Molyneux adds. Freedomain Radio philosopher and anarcho-capitalist, Stefan Molyneux. The Freedomain philosopher continues: “Bitcoin, as I’ve argued publicly in speeches many years ago— Bitcoin is the potential end to war, to end hyperinflation, to end intergenerational debt— Bitcoin is a mission of mercy to the future— Bitcoin is the Jesus to the new conference of the religion of peace called crypto. Bitcoin is the people regaining control over their currency for the first time in the history of the world— Bitcoin is currency democratized, unpolitized, unpredatored.” Molyneux added: Bitcoin is a currency that serves the people at the expense of the parasites, rather than the currency which serves the parasites at the expense of the people at the moment. Bitcoin is rescuing your precious labor from being hoovered up endlessly by the invisible vampire mosquitoes of central banking. Today’s Fiat Currency Is Slavery Tethered to Unborn Generations The philosopher continues by commending the Bitcoin community and says that the people in crypto are “seriously brilliant.” Beautiful and “deranged people,” he says that are “committed to the future of peace and plenty that Bitcoin could represent.” Molyneux further notes that the current fiat currency distributed by the world’s oligarchic bureaucracy is “slavery.” “What we understand is currency now is slavery. The currency is summoned into existence at the expense of your children’s futures. What you think of as a dollar sign is a slow jugular sucking noose twined and twisted around the necks of your children,” Molyneux reveals. National debt, Molyneux continues to highlight is “a real human trafficking problem.” You need to understand the Bitcoin space he adds. “The passion that these incredibly brilliant people have brought to bear on the oldest human problem— How do you store a value so that thieving predatory vampiric assholes can’t get their jugular sucking tentacles on it at all times? How do you store value so that you can actually come back to it?” Molyneux asked. He adds: Civilization is all about the storing of value. How do you store value? That’s civilization you understand. Bitcoin is about how you store value so that [parasites] can’t get their hands on it. They just can’t. You put your money in the bank, inflation eats it away, you store your meat by the river, the flies lay their eggs in it and you can’t eat it, you got gold coins in Rome, they put all kinds of a bimetallic [crap] into the gold and destroy its value in your hand. ‘The Likes of a Revolution That We Have Never Ever Ever Seen Before in Human History’ Molyneux says that humans are all about storing value and in the evangelist’s opinion, the storage and retention of value is everything in life. “By creating something that can store value outside the state, that is the likes of a revolution that we have never ever ever seen before in human history,” the philosopher insists. “If shells on some island are the currency,” Molyneux details in an analogy. “Then you need three shells a day to live, and if you get four shells, someone’s gonna take the fourth shell. Then tomorrow you won’t bother to get the fourth shell. You just stick with getting three shells and nothing will ever progress, because nothing can be saved or stored up in value. Nothing ever gets built because everything you build is going to be taken away from you,” he added. “Bitcoin is the biggest jailbreak in human history,’ Molyneux’s video highlights. Molyneux continues: “Imagine… everything you build is going to get taken away. It’s happening [right] now, you understand. Everything you have built is already taken away by unfunded liabilities, national debt, inflation— Everything you build is already taken away. You are just holding it now to have it for a little while to give you the illusion so you can go to work tomorrow.” Bitcoin Represents a New Financial System That Doesn’t Leverage the Unborn as Collateral Molyneux says you can have a house. But it’s really not your house. He highlights that you have to pay the government every year to keep it. “And the government put it in so much debt and you in so much debt, that it’s gonna be owned by some foreign bankster, at some point,” Molyneux’s speech details. “Or the entire currency is going to collapse and society goes back to savage gangs and you lose your house. You pretend you have a house, you pretend you have electricity, you pretend you have a car, you pretend you have everything but you have nothing.” The Freedomain radio host further says: You know this 2030 ‘you’ll own nothing and you’ll be happy,’ [that’s the way it is] now. In fact you owe, you don’t own, you owe. You are only allowed to pretend you own something so that you will get up and go to work tomorrow. That’s it man. Bitcoin has changed this course, Molyneux emphasizes. Bitcoin is the first of its kind that can actually keep parasites away from stealing value he notes. He says that the society we live in today treats babies and the unborn as “collateral.” Bitcoin can bolster a system that does away with such an immoral system. “If you generally understood how much debt was taken out on your behalf just because you are breathing,” Molyneux notes. “If you genuinely looked at that math, you can find it pretty easy,” he added. Molyneux’s speech continues for another 20 minutes longer, and news.Bitcoin.com readers can watch the rest of his speech here. What do you think about Stefan Molyneux’s recent Bitcoin speech? Let us know what you think about this subject in the comments section below. View the full article

Veteran trader Peter Brandt has implied in a tweet that bitcoin will go through deep price corrections before it gets to the $200,000 mark. Brandt points to the 2015-17 bull run when bitcoin went through similar corrections about nine times as the precedent the crypto asset might follow. More Corrections Expected Consequently, Brandt is asking his Twitter followers to predict the number of similar 30% price corrections that they expect to see before BTC ultimately gets to the $200,000. Already, as Brandt explains in the tweet, the crypto asset has gone through one such correction since the March 2020 price crash. Nevertheless, since then the crypto asset, whose price grew by more than 300% in 2020, has been on an upward trend. On February 21, the crypto asset set a new all-time high of $58,228, according to Messari data. As a consequence, some bitcoiners now predict that a price of $100,000 can be achieved in 2021. In the meantime on Twitter, the reaction to Brandt’s BTC price prediction, as well as his expectation of large corrections, has been mixed. Some users appear to agree with Brandt’s suggestion that there will be many corrections before the $200,000 price is achieved. Still, others think BTC will even surpass $200,000 while many believe the number of corrections will be fewer this time around. Bitcoiners Expect Fewer Corrections For instance, in their reply to Brandt, one user named Tho said: Couldn’t tell, because the end of this bull run is $298,000, not $200,000 and if you ask how many times, the answer is 6 times. it’s mean that 4 more times. Another user, Mike Thomas says there will be one significant correction at around $100,000. Still, Thomas argues: “With the (increased) amount of coins coming offline, the increased demand, and barring another black swan event, I do think 30%+ corrections are a thing of the past.” Meanwhile, another user known as Frank Squisher insists that “if the speed of this parabolic rise increases, the next correction could be the last one…If it slows down a bit, we may be able to handle one more big correction before the final run-up.” Still, not all users are convinced that the crypto asset will make it to $200,000. One such user, London hold asks: “The question is do you think we’ll hit 200k?” Meanwhile, on Feb. 22, bitcoin (BTC) prices dipped significantly to the $47,500 region after being above the $55k handle for a short period of time. BTC lost 13.63% in value quickly on Monday, but has since regained some of the losses. Want to follow all the crypto market action in real-time? Check out markets.Bitcoin.com. Do you agree that BTC will go through many corrections before it reaches the $200,000 mark? Tell us what you think in the comments section below. View the full article

The recent ramp higher in cryptocurrency prices has assuredly attracted its fair share of cheerleaders and detractors alike, but the reality of this climb has been a concurrent increase in network fees from rising transaction volumes. Binance is Blamed for Purposely Choking Ethereum’s Network to Drive More Users to Its Own Platform The resulting volumes have clogged networks like Ethereum, which have seen gas costs climb almost 20x over the last 12 months. For the growing DeFi market, these sky-high costs have elicited significant criticism from the community and mobilized the ecosystem to hunt for more affordable options. Enter Binance, which may dethrone Ethereum as the new DeFi hotspot due to its interoperability and lower transaction costs. Binance Smart Chain (BSC), which works on a Proof of Authority (POA) model, is centralized (Binance picks the authorities that run each node) relative to Ethereum’s entirely decentralized approach. This has prompted some users to criticize the approach, believing that Binance is abusing its clout and market power to intentionally clog the Ethereum network. However, this sharp critique misses the bigger picture. A quick look at wallet and gas data highlights that Binance is the largest single gas spender. For instance, the image above tweeted by Nansen AI highlights from February 12th to the 18th, Binance spent the equivalent of nearly 5,000 ETH in gas alone. Although many users are quick to criticize publicized data of Asian exchanges which are known for inflating trading volume, this data can be corroborated by Etherscan data. The data demonstrate that both in terms of gas spent and transaction volume over the last seven days, wallets attributed to Binance accounted for six out of 10 of the most active wallets in the entire Ethereum ecosystem. While it could be inferred that Binance’s volume is propelling Ether costs upward and doing so intentionally to attract more volume to its smart chain, this argument misses out on the blockchain interoperability that Binance has promoted. Moreover, Binance hasn’t shut off the taps to Ethereum, making the argument of it clogging the network somewhat moot. Binance Pancakeswap Has Overtaken Uniswap The costs of switching from Ethereum to Binance are very low, especially for smart contracts and Dapps. By improving the interoperability and reducing switching costs along with rebating developers who bring valuable projects online, Binance has built itself up as a formidable destination for all manner of activities. Given the volumes of DeFi, any reduction in network fees and costs is likely to attract greater adoption. By filling this void quicker than competitors or more established chains, Binance is now home to PancakeSwap, which has overtaken Uniswap (based on Ethereum) in terms of volume. Because the barriers of switching from Uniswap to PancakeSwap (which is effectively a copy of Uniswap on BSC), are fairly low, it’s no wonder why DeFi users have made the jump. Moreover, it has caused a sharp incline in Binance Coin’s (BNB) valuation, making transactions also more expensive on its own native chain. Yet, unlike Ethereum, by building a more cost-effective ecosystem that rewards smart contract developers, Binance is actually incentivizing development and smart contract use, and not necessarily using its market power to clog other competing networks. FTX Quick to Criticize Still, that hasn’t been enough to silence critics like FTX, which blame Binance for the default chains where it sends transactions. In a recent tweet critique, cryptocurrency derivatives exchange FTX was quick to pile onto Binance’s withdrawal process which effectively defaults to promoting its own chains and creates a conflict due to the fees it reaps in return. As a result, it has cost FTX dearly due to coins being sent to the wrong chains. Accordingly, the service has decided to pass along the extra costs to users in the form of a 5% deposit surcharge for tokens sent to the wrong chain. However, in large this argument speaks more towards user mistakes than Binance’s default settings. While the Binance universe is undoubtedly growing, and exchange volumes speak credible truth to this reality, the self-promotion of its own tools will continue to spark the same sort of denunciations that marked the decentralized versus centralized exchange debate. Ultimately though, utility speaks the loudest. What do you think – is Binance purposely choking the Ethereum network to gain more users? Let us know in the comments section below. View the full article

Nvidia announced that it will start limiting the efficiency of mining ethereum or any other crypto using its new range of upcoming graphics processing units (GPUs). In a blog post published Feb. 19, the U.S. hardware maker said this limitation will feature first on its new Geforce RTX 3060 card, which is scheduled for release on Feb. 25. Nvidia revealed that the new GPU software drivers are designed to detect specific attributes of the ether (ETH) mining algorithm, and limit the hash rate, or cryptocurrency mining efficiency, by around 50%. However, the software won’t limit the efficiency of all crypto mining activities, Itpro reported, “with the limiter only activating when processes use Dagger Hashimoto or Ethash-like algorithms.” The Nasdaq-listed firm is hoping that the restriction will discourage the purchase of gaming-oriented graphics cards for large ethereum mining operations. ETH is one of a few coins that can still be mined using graphics cards. GPUs, which are mainly used in video game consoles, have reportedly been in short supply due to hoarding by ETH miners, manufacturing limitations and supply chain issues resulting from the Covid-19 pandemic. Prices have soared, as a result. “We are gamers, through and through,” Nvidia declared. “We obsess about new gaming features, new architectures, new games and tech. We designed Geforce GPUs for gamers, and gamers are clamoring for more,” it added. However, Nvidia revealed that it is planning to produce GPUs specifically targeting ethereum miners called Cryptocurrency Mining Processor (CMP). It said the new mining processor, due for release in March, will not “do graphics” and will not “meet the specifications required of a Geforce GPU and, thus, don’t impact the availability of Geforce GPUs to gamers.” The firm stated that the CMP “lacks display outputs, enabling improved airflow while mining so they can be more densely packed.” CMPs also have a lower peak core voltage and frequency, which improves mining power efficiency, it explained. What do you think about Nvidia’s ethereum mining limit? Let us know in the comments section below. View the full article

Russia’s parliament has advanced the bill that proposes to recognize cryptocurrencies as property. The proposed law will provide legal protection for cryptocurrencies but income from their activities will also be subject to taxation. Cryptocurrencies to Be Considered Property in Russia Russia’s State Duma, the lower house of Parliament, adopted a bill that recognizes cryptocurrencies as property and subjects income from them to taxation in the first reading, RIA Novosti reported last week. Noting that the document was submitted to the parliament by the government on Dec. 1, 2020, the publication detailed: The bill proposes to recognize digital currency as property for the application of the tax code. As Prime Minister Mikhail Mishustin explained earlier, this will allow the owner of the cryptocurrency to count on legal protection and defend his rights in court. Prime Minister Mishustin talked about the Russian government’s plans to recognize cryptocurrencies as property back in November when he outlined initiatives, including cryptocurrency regulation, to fight against the spread of the coronavirus pandemic. The bill imposes taxes on income from cryptocurrency activities. Russian citizens and organizations will have to submit a declaration if the value of cryptocurrency transactions during the year exceeds 600,000 rubles ($8,100). Meanwhile, cryptocurrency will not be subject to depreciation, and transactions related to its circulation will not be subject to VAT, the publication conveyed. For non-payment or incomplete payment of tax, there will be a 40% penalty of the amount owed. There will also be a fine for failure to submit, untimely submission, or submission of a declaration with inaccurate information. For declaration violations, a fine of 50,000 rubles will be levied. The Federal Tax Service will have the authority to request individuals’ bank statements of accounts used for cryptocurrency transactions. The State Duma Committee on Budget and Taxes intends to clarify which crypto transactions are exempt from VAT when finalizing the draft for the second reading. In addition, it will specify the declaration requirements for disposing of digital currency and submitting reports on transactions. What do you think about Russia recognizing cryptocurrencies as property? Let us know in the comments section below. View the full article

While the decentralized finance (DeFi) space is not new, it has experienced massive growth to surpass $37 billion. Consequently, the sector attracted a lot of attention, which, in turn, led to the unearthing of multiple deficiencies that the industry has. As a result, many projects have been continuously cropping up to address these issues. While the projects are working at a record pace to tackle these challenges, the industry still has a lot of upgrading to do. Enhance the DeFi Experience Chipping in to help solve one of DeFi’s insufficiencies is CyberFi, a startup that seeks to offer intelligent trading and enhanced automation to make DeFi user-friendly. The project is a new-gen intelligent trading and automation platform (ITAP). It is described as a multi-product ecosystem that comprises automation products, seeking to enhance the DeFi experience. CyberFi is the first platform of its kind that aims to fill a gap in DeFi trading by addressing a variety of issues, including high fees, specific onboarding barriers, divergence, and poor user experiences. It works by combining a decentralized trading platform, an intelligent automation system for complex DeFi strategies, and a cross-chain layer for supporting DeFi automation. By blending these features, the platform eliminates manual processes in DeFi applications, which lead to gas wars, overpaying fees, stress and frustration, and the constant need to be on Uniswap. Benefits of Using CyberFi By using CyberFi, traders will get the functionality of centralized exchanges on decentralized exchanges (DEXes) and liquidity pools. For instance, the platform offers automatic order execution based on price divergence indicators (PDI) and best trade value (BTV). While trading on liquidity pool-based DEXes demands manual interaction for a trader to enter or exit a position, CyberFi’s price divergence indicators, which are available through oracles, allow traders to leverage automatic order execution. This functionality is currently available on Uniswap, and it has a refresh rate of 40 to 60 seconds. However, CyberFi is working on an upgrade that will process live price feeds with a 10 to 30-second latency from multiple exchanges. This iteration will use a BTV concept, which automatically finds the best prices and smallest fees available. In doing so, the system provides traders with a stress-free experience by minimizing the manual processes they need to complete to trade on DEXes. CyberFi also leverages PDI Change Speed (PDICS) to offer traders risk mitigation tools for volatile assets. This functionality enables traders to set trade limits based on price or percentage losses against time for specific tokens. Additionally, the platform works with the community and renowned DeFi players to improve the data analytics models that are currently available. CFI Token The CyberFi ecosystem has a native token dubbed CFI Token. It is mainly used to cover trading fees on the platform. CFI also offers lower commission and access to unique products. Additionally, CyberFi users can use CFI to pay for multi-chain operations. CyberFi will not claim the CFI fees for itself. Instead, the firm will redistribute 80% of the funds to the community to secure liquidity, increasing the token’s value. The remaining 20% serves as a revenue source for the ecosystem. CFI has a total supply of 2.4 million coins. Breaking down how it will distribute the coins, CyberFi noted that it would use 800,000 CFI for the Alpha and Cyber rounds, where it would unlock 20% of this value in the first week and then unlock 10% of the remaining amount weekly. The project would then offer strategic partners 500,000 CFI with a six-month vesting period. 300,000 CFI would then go toward development. Another 300,000 would go toward community and marketing growth. Out of the remaining 500,000 CFI, the project would dedicate 250,000 CFI to fund the liquidity team, 200,000 CFI for LP and staking rewards, and 50,000 CFI for its transaction mining program. Strategic Partnerships To help better its platform, CyberFi has joined efforts with leading players in the crypto and DeFi spaces. Notable investment-side partnerships include a tie-up with the Ferrum Network, which seeks to develop a DeFi ecosystem that interoperates across chains to eliminate barriers to mass adoption. This deal involved the creation of a solution that would offer automatic staking and offer enhanced earning opportunities for users. On the infrastructure side, CyberFi partnered with DEXTools to bring accurate low-latency Uniswap data to the CyberFi platform. It’s a partnership that will help users make the most out of CyberFi’s automation through up-to-the-minute trading data to inform automated investment strategies. And to help accommodate the trading volume that those automated trades are likely to drive, CyberFi has begun integrating the Matic Network into its platform. That will bring cheaper, more efficient layer 2 transaction functionality, lowering costs and increasing efficiency. CyberFi also announced that it had integrated Chainlink’s oracle services, giving platform users access to their industry-best price feeds. Having that in place, CyberFi’s users can be certain that they’re making decisions based on fair market values that are resistant to external manipulation. And because Chainlink brings unassailable reliability and security, there will never be a risk of CyberFi’s users losing access to that data or having cause to question its veracity. A Public Beta Launch The development of the CyberFi platform has so far exceeded the expectations of both its creators and its early users. Things have come so far so fast that the platform announced the opening of a public beta on January 27th. The public beta includes the wide availability of automation for liquidity pool management and limit order management. The beta for the liquidity pool automation currently includes four types of smart orders. Using the system, users can create triggers to control adding and removing liquidity, as well as to auto-sell specific liquidity pool assets and exit mining programs. This provides users with maximum flexibility to control their liquidity pool participation without having to babysit their holdings. And as far as limit order automation, the beta includes functionality to handle standard limit orders as well as cross limit orders. But both features make use of single-TX order flows that save on gas fees and prevent front-run investment attacks. CyberFi accomplished this through innovative use of off-chain transaction storage – pre-authorizing transactions and storing them privately until a triggered execution event. All in all, it’s an exciting time to be involved with CyberFi. And as industry partners continue to come on board and the platform continues to develop apace, things will only get better from here. It’s the birth of a whole new era in DeFi – where users have ultimate control, flexibility, and ease-of-use, all at their fingertips. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

The price of bitcoin has climbed to phenomenal heights during the last few weeks and this has fueled the crypto asset’s mining sector a great deal. Despite the fact that the Bitcoin network’s mining difficulty has never been higher at 21.72 trillion, the hashrate has climbed to a whopping 180 exahash per second (EH/s) and there’s 23 mining pools dedicating significant hashrate to the Bitcoin blockchain. 180 Exahash and a 21.72 Trillion Difficulty Bitcoin (BTC) continues to climb higher and higher in value and on Sunday the crypto asset tapped another all-time price high. BTC reached a whopping $58,300 price per unit on February 21, and the asset’s market valuation captured 1.09 trillion in value. The price of BTC has made bitcoin mining extremely profitable as next-generation mining rigs are making bountiful profits. For instance, the Microbt manufactured Whatsminer M30S++ with 112 terahash per second (TH/s) gets $37 a day. The popular Bitmain Antminer S19 Pro (110 TH/s) gets a touch above $36 per day in BTC. This is using today’s extremely high mining difficulty and electric prices at $0.07 per kilowatt-hour (kWh). Older generation mining rigs like Bitmain S9s and other 10-14 TH/s machines are also making profits. The high difficulty percentage has never been larger in Bitcoin’s lifetime as the difficulty today is 21,724,134,900,047 (21.72T). The next difficulty change is expected to happen in 12 days and the mining difficulty is likely to go higher if the hashrate and if the price stays consistent. BTC’s difficulty will jump a percentage to 21.94 trillion on or around March 5, 2021. This is due to BTC’s hashrate remaining very high and tapping 180 exahash per second (EH/s) this week. At the time of publication, the hashrate is around 163 EH/s. Bitcoin Mining Pool Participation Jumps by 35% in 30 Days The hashrate surge is due to the additional mining pools joining in on the fresh profits. A few weeks ago 17-18 pools pointed hashrate at the BTC chain and now there’s 22-23 pools. The top gun in the BTC mining operation business is F2pool as it has held the number one position for months on end. That’s because F2pool commands 18.92% of the network’s overall hashrate with over 28 EH/s dedicated to the BTC blockchain. Poolin follows behind with 15% of the hashrate and 23 exahash, Btc.com captures 12.1% with its 18 EH/s, and Binance Pool commands 11% of the hashrate with 17.5 EH/s. The fifth-largest BTC mining pool today is Antpool which has 8% of the network hash and 13 EH/s. Pools like Viabtc, Huobi, 1thash, Slushpool, and Lubian have around 2.4% to 7.4% of the network hashrate respectively. Following those five pools is an unknown operation, Btc.top, Spiderpool, Emcdpool, and Novablock. All of which capture around 1 to 2.4 EH/s and most of the hashrate belongs to the stealth mining operation. Bitcoin mining has always been competitive and hard, but in 2021 it has never been more difficult to secure a BTC block with 6.25 BTC and tethered fees. Nevertheless, miners continue to shatter new hashrate highs, and difficulty continues to climb because of this factor. What do you think about the Bitcoin network’s difficulty obtaining all-time highs and the challenging mining difficulty increases as well? Let us know what you think about the bitcoin mining topic in the comments section below. View the full article

The founder of asset management firm Skybridge Capital, Anthony Scaramucci, has predicted that the price of bitcoin will reach $100,000 before the year-end simply due to supply and demand. “You don’t have a lot of supply out there and very heavy demand,” he said. His firm currently has over half a billion dollars in bitcoin. Skybridge’s Founder Expects $100K Bitcoin Before End of Year Skybridge Capital founder and managing partner Anthony Scaramucci talked about his expectations for the price of bitcoin and his firm’s investment in the cryptocurrency during an interview with CNBC last week. Noting that he sees ferocious demand in bitcoin while its supply is decreasing, Scaramucci expects the price of the cryptocurrency to double by the end of the year. The Skybridge Capital founder remarked: I do think we see $100,000 in this coin before year-end … It’s just a supply and demand situation. You don’t have a lot of supply out there and very heavy demand. Bitcoin’s price has been climbing rapidly, hitting multiple all-time highs over the past week. The cryptocurrency has already gained almost 76% since the beginning of the year. Its market capitalization has surpassed $1 trillion. At the time of writing, the price of bitcoin stands at $56,575. The demand for bitcoin has been fast growing, particularly from institutional investors, which did not exist during the 2017 bitcoin bull run. However, according to blockchain analytics firm Glassnode, 78% of the bitcoin supply is not liquid. The firm says: “Currently 14.5M BTC are classified as illiquid, leaving only 4.2M BTC in constant circulation that are available for buying and selling.” Scaramucci cautioned individual investors: “The thing is volatile, and again I want to be cautious with individual investors … Be cautious.” As for his own asset management firm, he said: We like it. We have over a half a billion dollars in bitcoin right now. And obviously, our bitcoin fund started in December. It’s done quite well. Skybridge launched its bitcoin fund in December last year with $25 million of its own capital. The fund opened to outside investors in January and debuted with $310 million. Scaramucci said his firm “could be at the precursor of an avalanche of institutional investors heading in,” as orders were “building up from a large swath of institutions for the first quarter of 2021.” Major companies have recently been scooping up bitcoins, including Elon Musk’s Tesla, which bought $1.5 billion worth of BTC in January. Other major companies that have already invested in bitcoin include Jack Dorsey’s Square Inc. and mega insurer Massmutual. Furthermore, the Nasdaq-listed Microstrategy had accumulated 70,784 bitcoins as of Jan. 27 and has completed a $1.05 billion convertible note offering to buy more BTC. A large number of bitcoins are also acquired by investment funds, including Grayscale Bitcoin Trust and an array of bitcoin exchange-traded products (ETPs) and bitcoin exchange-traded funds (ETFs). What do you think of Skybridge’s prediction? Let us know in the comments section below. View the full article

Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, has warned that governments could “squash” bitcoin in an inflationary crisis. Expecting more massive stimulus from the government, he said to “prepare for inflation.” Michael Burry Shares His View on Bitcoin American investor Michael Burry has warned that governments could “squash” bitcoin and even gold to protect their own currencies. Burry founded hedge fund Scion Capital and is best known for being the first investor to foresee and profit from the U.S. subprime mortgage crisis that occurred between 2007 and 2010. In a series of tweets Thursday night, Burry wrote, “Prepare for inflation.” He expects more stimulus from the government to drive up prices, fuelling inflation, as the economy tries to recover from the coronavirus pandemic. He tweeted: In an inflationary crisis, governments will move to squash competitors in the currency arena. $BTC #gold Burry became famous after his billion-dollar bet against the U.S. housing bubble was chronicled in the book and movie “The Big Short.” The film was directed by Adam McKay and starred Christian Bale as Burry, Steve Carell, Ryan Gosling, and Brad Pitt. In addition, his hedge fund was holding 1.7 million Gamestop shares but sold all of its holdings in the fourth quarter of last year, before the massive surge fuelled by Wallstreetbets. According to Forbes, “The stock sales mean Burry missed out on a Reddit-fueled 2,000% surge in the video game retailer at one point in 2021, which would have made him over $1 billion.” Burry further clarified his stance on bitcoin in a tweet Saturday: I don’t hate BTC. However, in my view, the long term future is tenuous for decentralized crypto in a world of legally violent, heartless centralized governments with lifeblood interests in monopolies on currencies. In the short run anything is possible – why I am not short BTC. Do you agree with Michael Burry about bitcoin? Let us know in the comments section below. View the full article

A Chinese tea retailer is looking to make its inception into the bitcoin mining business. Publicly-listed Urban Tea announced the expansion of its operations by appointing two executives to pursue its crypto plans. Urban Tea Praises Cryptocurrencies’ Widespread Popularity Per the announcement, Urban Tea Inc. hired Fengdan Zhou as the company’s new chief operating officer and Dr. Yunfei Song as an independent director. The tea retailer expects the new roles to lead the “company’s critical strategic expansion in blockchain and cryptocurrency mining.” Zhou will look forward to implementing the bitcoin (BTC) business plan of the firm. Her experience includes having worked in blockchain data centers across Southeast Asia and managing crypto mining farms. Moreover, she has expertise in crypto hardware wallet development, the announcement details. Also, Dr. Song comes from an academic background, specifically being a scientist at the Chinese Academy of Sciences. In fact, his expertise fields cover blockchain technology, crypto mining, artificial intelligence, among others. Yi Long, CEO of Urban Tea, praised the widespread popularity that cryptos have gained recently. Also, he pointed out that the “world’s financial experts” have been building confidence in the future of cryptocurrencies and blockchain technology. Long further commented on Zhou and Dr. Song’s hirings: We expect that their industry expertise, combined with our growth strategy, will lead our expansion plan into the cryptocurrency mining industry. Going forward, we expect Urban Tea will start expanding into blockchain ecology, such as cryptocurrency mining, blockchain mine construction and maintenance, and cryptocurrency exchange operations. Urban Tea, based in Hunan, China, was founded in 2011, and it’s currently listed in Nasdaq as MYT. As of press time, the company’s shares trade at $6.05, with a $45 million market capitalization. This maneuver is their first crypto-related business made over the company’s history. Latest Tea Retailer’s Crypto Mining Venture Ended in a Disaster There are some precedents of tea retailers joining the crypto industry. Long Island Iced Tea Corp, another publicly listed company, purchased 1,000 units of Antminer S9 manufactured by Bitmain in 2018 to join the crypto mining business. Afterward, they rebranded the business to “Long Blockchain Corp.” However, the venture ended in a disaster. When Long Blockchain Corp acquired the crypto hardware, its stocks jumped by 500%. But mining’s plans went to the trash when crypto’s bears appeared in February 2018. When Long Blockchain Corp’s shares were delisted by Nasdaq, the company also had to sell its tea business. The story didn’t end there, as the FBI and the Securities and Exchange Commission then launched an investigation over allegations of insider trading and securities fraud. What are your thoughts on Urban Tea’s announcement? Let us know in the comments section below. View the full article