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Cryptocurrency News

  • Market Cap: $1,435.80 B
  • 24h Vol: $95.32 B
  • BTC Dominance: 44.29%
  • Cointelegraph.com News - 24 July 2021, 12:42 pm

    The megaphone-shaped pattern reflects growing disagreement between investors over the next Bitcoin trend bias. Bitcoin’s (BTC) latest rebound from below $30,000 has increased its prospects of extending its retracement move higher, at least according to one classic technical pattern.Dubbed as Broadening Formation, the megaphone-shaped pattern appears when the price moves inside two diverging trendlines. Investopedia states that a broadening formation represents disagreement over the next potential bias among investors. As a result, the price forms higher interim peaks and lower interim lows.Bitcoin appears to be trading inside a similar structure, as shown in the chart below. Nonetheless, the cryptocurrency lacks volatility, one of the key features of the broadening formation pattern.Stabilized Bollinger bands reflect limited price volatility in the Bitcoin market. Source: TradingView.comShould the pattern play out, the Bitcoin price will undergo a bullish breakout above the structure’s upper trendline. In doing so, it would expect to rise by as…Read More

  • Bitcoin News - 24 July 2021, 12:00 pm

    A major high street bank in the U.K., Natwest, has blocked payments to crypto exchange Binance. Natwest’s decision came after two other major British banks — Barclays and Santander — made a similar move to block fund transfers to Binance. The banks acted in response to a warning on the cryptocurrency exchange by the U.K.’s […]Read More

  • Cointelegraph.com News - 24 July 2021, 10:07 am

    Thailand’s oldest bank sees blockchain and DeFi as the future of global finance and is seeking to invest in the emerging digital landscape. While serious institutional interest in crypto is perhaps becoming more of an established trend than an emerging narrative, the focus of big-money players is usually on Bitcoin (BTC). However, assets like Ether (ETH) and decentralized finance (DeFi) are beginning to pique the attention of major investors.For Siam Commercial Bank (SCB), DeFi is a major focus point of its current digital asset drive, as Thailand’s oldest bank prepares itself for the expected financial technological disruption of decentralized finance. While other banks are still undecided or only making temporary forays into interacting with digital assets, SCB says it is keen on committing funds to explore the blockchain and DeFi space.SCB’s DeFi focus is also coming at a time when regulators in Thailand are targeting the decentralized finance space for…Read More

  • Bitcoin News - 24 July 2021, 10:00 am

    A St. Lawrence county town located in New York near the Canadian border, Massena, is another region in the state that is having issues with bitcoin miners. According to recent reports from the local WWNY-TV news desk and Reuters, the Massena town supervisor is drafting new regulations for bitcoin mining operations. Officials From Town of […]Read More

  • Bitcoin News - 24 July 2021, 8:00 am

    The government of Abkhazia is negotiating with Russia to solve a problem that led to a ban on cryptocurrency mining. The partially recognized republic in the South Caucasus is now planning to legalize the industry and source sufficient power supplies from its energy-rich northern neighbor. Abkhazia Wants to Create Conditions for Cryptocurrency Mining The autonomous […]Read More

  • Bitcoin News - 24 July 2021, 5:30 am

    The Central Bank of Colombia has announced its involvement in the first blockchain bond pilot program in the country, with the participation of the Interamerican Development Bank (IDB) and Davivienda, a private commercial bank. The proof of concept will use the Lacchain blockchain platform developed by the IDB, which will handle the operative part of […]Read More

  • Bitcoin News - 24 July 2021, 3:30 am

    As central bank digital currencies (CBDCs) advance in testing, a number of countries have taken the lead in an effort to create a CBDC. The enterprise blockchain firm Guardtime recently conducted a survey that shows adults from ten different countries would likely use a CBDC. Nearly two out of three respondents said they would likely […]Read More

  • Bitcoin News - 24 July 2021, 1:30 am

    The Chinese mining crackdown forced many miners to stop their operations and relocate. But another group of miners is planning to pivot to new, more efficient mining schemes to keep operating in the country. Lesser-known tokens and proof-of-stake-based systems are now in the sights of these miners as ways to continue their work away from […]Read More

  • Cointelegraph.com News - 24 July 2021, 12:05 am

    Data from Delphi Digital shows holding BTC and ETH was more profitable than investing in weighted average market cap crypto and DeFi index funds. In the past two decades, index and exchange-traded funds (ETF) have become some of the most popular forms of investing because they offer investors a passive way to gain exposure to a basket of stocks as opposed to investing in individual stocks which increases risk of loss. Since 2018, this trend has extended to the crypto sector and products like the Bitwise 10 Large Cap Crypto Index (BITX) tracks the total return of Bitcoin (BTC), Ether (ETH), Cardano (ADA), Bitcoin Cash (BCH), Litecoin (LTC), Solana (SOL), Chainlink (LINK), Polygon (MATIC), Stellar (XLM) and Uniswap (UNI). The ability to access multiple top projects through one weighted average market cap index sounds like a great way to spread out risk and gain exposure to a wider range of assets,…Read More

  • Bitcoin News - 23 July 2021, 11:30 pm

    The Central Bank of Nigeria (CBN) has reportedly set October 1 as the commencement date for the trial phase of its digital currency project. Dubbed project Giant, this digital currency project, or the “e-naira,” is expected to use the Hyperledger Fabric blockchain. CBDC Comes to Life The revelation of the launch date for Nigeria’s central […]Read More

  • Cointelegraph.com News - 23 July 2021, 10:00 pm

    Hodling is nice, but eventually, everyone wants to buy something. This is why crypto debit and credit cards are key to mass adoption. Out of the many routes available to the mass adoption of cryptocurrencies, which includes decentralized finance (DeFi), layer-one protocols, nonfungible tokens and stablecoins, perhaps the simplest and most applicable path for the public at large is the ability to utilize cryptocurrency for everyday purchases with an integrated debit or credit card.2021 has seen a growing number of companies offer cryptocurrency-based credit cards that give holders the chance to tap into the value of their cryptocurrencies for daily purchases, but is this just the latest gimmick being used by businesses to earn a buck or a real sign of mass adoption?While the traditional financial sector isn’t discussed much in this newsletter because its focus is on exploring the various sub-sectors of the cryptocurrency ecosystem, crypto assets are quickly…Read More

  • Bitcoin News - 23 July 2021, 9:30 pm

    The French central bank, Banque de France (BOF), recently carried out its fifth experiment on the Central Bank of Tunisia (CBT)’s central bank digital currency (CBDC). According to a statement from BOF, the latest experiment is part of the banks’ joint effort to create conditions that are “conducive to a better inclusion of the Tunisian […]Read More

  • Cointelegraph.com News - 23 July 2021, 9:28 pm

    Cathie Wood’s Ark Invest purchased more than 450,000 GBTC shares in two separate buys this week. As the price of Bitcoin returned to more than $32,000 this week, some major firms announced they had increased their exposure to cryptocurrencies through Grayscale’s crypto trusts.According to a Friday filing with the U.S. Securities and Exchange Commission, or SEC, New York-based investment firm Edge Wealth Management currently holds 54,134 shares of Grayscale’s Bitcoin Trust (GBTC), valued at $27.13 at the time of publication, and 25,280 shares of the company’s Ethereum Trust (ETHE). The crypto holdings are worth almost $2 million at $1,468,655 and $466,668, respectively, roughly 0.3% of the $703 million total assets under management the company reported on Feb. 2.Grayscale’s crypto trusts are not new investment opportunities for Edge. The investment firm held 37,605 GBTC and 17,300 ETHE shares in April, representing increases of 44% and 46%, respectively. Some institutions’ exposure to…Read More

  • Cointelegraph.com News - 23 July 2021, 8:20 pm

    The project is branding its testnet as useful to “new developers without blockchain background knowledge.” The Rangers Protocol has opened its testnet to users aiming to provide an Ethereum Virtual Machine-compatible solution that supports cross-chain contract interoperability.In a Friday announcement, the Rangers Protocol said it had successfully migrated its first Dapp to the testnet which went live on July 19. The project migrated an Ethereum-based lending protocol, BlueStone, to the testnet, a move the protocol described as “smooth and developer-friendly” given Rangers’ Ethereum Virtual Machine, or EVM, compatibility. Though there are seemingly alternative solutions utilizing blockchain technology friendly to Solidity developers, Rangers Protocol is branding its testnet as useful to “new developers without blockchain background knowledge.” Individuals interested in building using the protocol will reportedly have an easier time creating nonfungible tokens, or NFTs, as well as gaming applications in a permissionless environment. Rangers Protocol co-founder Mary Ma announced in…Read More

  • Bitcoin News - 23 July 2021, 7:30 pm

    Binance CEO Changpeng “CZ” Zhao has explained in a recent interview that the company is looking to launch a U.S.-based initial public offering (IPO) in the future. The crypto exchange has been stuck in regulatory crosshairs during the last few weeks and has had issues with payment providers. CZ also noted during his interview that […]Read More

  • Cointelegraph.com News - 23 July 2021, 7:10 pm

    C98 rallied 1,200% from its ICO price shortly after listing on Binance and AMPL shot higher after the project integrated with AAVE. Few things in the cryptocurrency space generate more hype than a new token listing because the prospect of finding a rare 1000x coin continues to be a top goal of many crypto investors. Coin98 (C98) is the most recent example of this phenomenon after the Binance Smart Chain-based decentralized finance (DeFi) solution rallied 1,200% from its initial coin offering price at $0.075 to $0.928 on its first day being listed on exchanges. Coin98 Binance Launchpad subscription has been completed. Please wait for @binance to send C98 and BNB to your spot wallet.How many C98 tokens did you receive?#Coin98 #C98 $C98 pic.twitter.com/W4QVYMy8ga— Coin98 Insights (@Coin98Insights) July 23, 2021 Coin98 is the 20th project to come out of the Binance Launchpad and describes itself as “a DeFi gateway for traditional finance…Read More

  • Cointelegraph.com News - 23 July 2021, 7:00 pm

    Those who marched against Bitcoin this week claimed the cryptocurrency was too volatile and would allow businesses to “launder ill-gotten money.” Protesters calling themselves the Popular Resistance and Rebellion Block have come out against El Salvador’s government passing a law making Bitcoin legal tender.A Tuesday tweet from local news outlet El Mundo shows El Salvadorians carrying banners saying “no to Bitcoin” in the streets of San Salvador demanding a repeal of the country’s Bitcoin law. Legislative assembly members Anabel Belloso and Dina Argueta addressed the protesters after first meeting the group separated by a barrier of razor wire.RT @SusanaPenate: Miembros del Bloque de Resistencia y Rebeldía Popular llegaron a presentar una propuesta de derogar la Ley Bitcoin. Salen a recibirlos Dina Argueta y Anabel Bellosopic.twitter.com/CXFLDW4tsr— Diario El Mundo (@ElMundoSV) July 20, 2021 In a letter made available at the protest, the Popular Resistance and Rebellion Block group claimed that President…Read More

  • Cointelegraph.com News - 23 July 2021, 5:45 pm

    “You’ll notice transactions happen much faster, and once you’ve created a Vault, you won’t have to keep claiming Moons every month,” said Reddit if the solution is migrated to the Ethereum mainnet. Social media platform Reddit announced it would be using scaling solution Arbitrum to handle scaling its Ethereum-based Community Points system.In a Thursday announcement, Reddit administrator jarins said the platform had launched its own layer-2 rollup using Arbitrum technology for its rewards points. Reddit said it had deployed the layer-2 solution on top of the ​​Rinkeby testnet before it plans to migrate to the Ethereum mainnet. The platform cited Arbitrum’s features of being decentralized, being developer-friendly, and having broad ecosystem support in its decision. Arbitrum essentially “rolls up” transactions on a gasless sidechain with a separate set of security and consensus protocols, then reports the batched transactions to Ethereum. The development team at Offchain Labs has touted the project…Read More

  • Bitcoin News - 23 July 2021, 5:30 pm

    On July 22, developers working on the platform Reddit, the social news discussion aggregation forum, revealed that the team was scaling Reddit’s community points program with the Ethereum Layer-2 solution Arbitrum. Currently, Reddit developers are testing the community point tokens on top of the Rinkeby testnet and will migrate to the Ethereum mainnet after testing […]Read More

  • Cointelegraph.com News - 23 July 2021, 5:26 pm

    Bitcoin and most major altcoins are meeting resistance at higher levels but the bearish sentiment of the last two months seems to be reducing. Bitcoin’s (BTC) recovery is facing resistance near $32,500, suggesting that the ride higher may not be an easy one. However, a positive sign is that demand for cryptocurrencies remains strong and lower levels continue to attract buyers.A survey of 150 family office clients of Goldman Sachs shows that 15% have already invested in crypto-assets and 45% want to take the plunge. The family offices manage more than $6 trillion in assets, meaning, even a small percentage of inflow from this sector could eventually boost crypto prices. Daily cryptocurrency market performance. Source: Coin360It is not only the wealthy who are investing in cryptocurrencies. A recent survey by Gallup shows that Bitcoin ownership among U.S. investors, with $10,000 or more invested in stocks, bonds, or mutual funds, has…Read More

  • Cointelegraph.com News - 23 July 2021, 4:45 pm

    The BEP-20-based FXT token hopes to “replicate the success of its variant — ERC-20 Token.” Crypto trading platform FXT announced the launch of a BEP-20 token after its ERC-20 token witnessed an impressive 1,500% growth since its launch back in January.The new token, which is built on Binance Smart Chain, is designed to reduce transaction costs and settlement times compared with its Ethereum-based predecessor. In addition to increasing the altcoin’s overall performance in efficiency and utility, FXT intends to list its token across several crypto exchanges to make it globally available.Given FXT’s lower price threshold and a history of massive returns on investment, FXT foresees a massive influx of global investors and opined that the BEP-20 token would “replicate the success of its variant — ERC-20 Token.”While further details have yet to be shared publicly, FXT will likely use the initial coin offering funding to scale its offerings and prepare for…Read More

  • Cointelegraph.com News - 23 July 2021, 4:15 pm

    Could crypto payments for real estate become another notable way for people to invest their BTC, or is the learning curve too steep for wider adoption? Crypto investors are betting big on real estate this year as the cryptocurrency market continues to grow. New York Digital Investment Group (NYDIG) recently conducted a survey that found that 46 million Americans own Bitcoin, equating to 22% of all adults. While optimistic, some cryptocurrency investors have expressed concerns regarding the security, custody and volatility of digital assets. For example, Nickel Digital Asset Management, a regulated European investment manager dedicated to the crypto market, surveyed institutional investors and wealth managers from the United States and Europe who collectively have $275 billion in assets under management. Findings show that 76% of these individuals are concerned about the security of their digital assets. The same percentage said this about the size of the market and liquidity, followed…Read More

  • Cointelegraph.com News - 23 July 2021, 3:41 pm

    City officials have imposed a three-month suspension on new Bitcoin mining operations to make roads and buildings more presentable. Massena, a town in New York along the border with Canada, has placed a temporary suspension on new Bitcoin (BTC) mining operations in the area.According to a report by the Associated Press on Friday, Massena town officials mandated the 90-day moratorium on new Bitcoin mining activities due to aesthetic concerns.Steve O’Shaughnessy, a Massena town supervisor, said miners littered roads with trailers laden with computers and other hardware required to mine Bitcoin. The AP report quoted O’Shaughnessy’s statement to WWNY-TV, saying: “We don’t want it littered with these trailers that are pumping out Bitcoin. We just want to make sure if they are going to come here, that it’s a nice presentable building.”Town officials will reportedly use the 90-day moratorium to ensure that roadsides in Massena are decluttered with trailers and shipping…Read More

  • Cointelegraph.com News - 23 July 2021, 3:13 pm

    NFTs and social tokens are not Bitcoin or Ether, but interaction between celebrities and their fans raises people’s awareness about the space. After an astronomical bull run into the beginning of this year that was followed by an abrupt halt and 50% drop since April, crypto markets are at a fork in the road right now. Where they go next could inform us about how market conditions impact mainstream adoption via artists, creators and celebrities who have been taking a greater interest in the space.To date, the market for nonfungible tokens (NFTs) and social tokens has been anecdotally correlated to the broader crypto market. As creators bring in more fans from outside of crypto, we’re seeing that correlation diminish, albeit with a small sample size. If Bitcoin (BTC) and Ether (ETH) don’t break out of their respective slumps and we do enter a bear market, there is a strong case…Read More

  • Cointelegraph.com News - 23 July 2021, 3:12 pm

    The analyst also treats the latest crypto ban in China as bullish for Bitcoin and the U.S. dollar. Bitcoin (BTC) has a better probability of recovering back to $60,000 than breaking below its current support level of $30,000 to target $20,000, believes Mike McGlone, senior commodity strategist at Bloomberg Intelligence.A screenshot from McGlone’s latest analysis on the flagship cryptocurrency, first shared by Bloomberg senior ETF analyst Eric Balchunas, shows him comparing Bitcoin’s ongoing price action with the “too-cold” period of the 2018–2019 trading session. In detail, the BTC/USD exchange rate entered a prolonged consolidation period near $4,000 following an 80%-plus crash in 2018, but a sudden run-up in 2019 sent its prices to as high as $14,000 on some exchanges. McGlone, who’s known for his previous bullish calls on Bitcoin, noted that BTC, which has been consolidating near $30,000 since May, could post a similarly surprising rally while aiming to hit a…Read More

  • Cointelegraph.com News - 23 July 2021, 1:57 pm

    “We’re not a merit regulator, so we shouldn’t be in the business of deciding whether something is good or bad,” SEC Commissioner Hester Peirce said. Securities and Exchange Commissioner Hester Peirce has voiced concerns over the United States lagging behind global jurisdictions in adopting cryptocurrency exchange-traded funds (ETFs).During an online appearance at the Bitcoin (BTC) conference “The B Word,” Peirce pointed out that many other countries such as Canada have already been trading crypto ETFs, while the U.S. is still deciding whether to approve such a trading instrument. She stated:“I would never have imagined that I would be in this situation where we would not yet have approved one and other countries are moving ahead.”The SEC commissioner also mentioned her concern that U.S. regulators could be overstepping their remit by forcing the local crypto industry to play by a separate set of rules than everyone else.“We’re not a merit regulator, so we…Read More

  • Cointelegraph.com News - 23 July 2021, 1:17 pm

    Nonfungible tokens under the juridical and legal perspective are still in evolution, and there are more questions than answers. A nonfungible token (NFT) can be both a representation of a physical or digital asset that only exists on the internet — a programmable piece of art. It provides ownership of an underlying asset, like a painting, and it can also represent a digital asset in the form of a software code. Therefore, I like to conceptualize NFTs in a more technical view:“An NFT is a pattern of smart contracts that provides a standardized way of verifying who owns an NFT, and a standardized way of ‘moving’ nonfungible digital assets.”Before discussing the legality of an NFT, it is necessary to check what nonfungible tokens mean digitally. In its most general sense, an NFT is the digital representation of a nonfungible asset in the form of a serial number. Take a look…Read More

  • Cointelegraph.com News - 23 July 2021, 1:03 pm

    Recent developments such as China banning BTC mining may be “long-term positives for the market even if they introduce short-term volatility.” BlackRock is the world’s largest asset manager, so when its CEO, Larry Fink, remarked recently that he was seeing “very little in terms of investor demand” with regard to crypto and Bitcoin (BTC) based on “my last two weeks of business travel,” it set off some alarm bells.A lively Twitter discussion followed one commentator’s remarks of how BlackRock was simply protecting its legacy bond business, given that “Goldman Sachs, BNY Mellon, State Street, Morgan Stanley, all entered the space in response to demand.” Furthermore, BlackRock is the second-largest owner of MicroStrategy (MSTR) stock, regarded by many as a pure Bitcoin play.As has been recounted, Bitcoin reached its all-time high of $64,000 on April 14 but soon thereafter plunged, and it has now been trading at roughly half its April…Read More

  • Cointelegraph.com News - 23 July 2021, 12:39 pm

    Karura Swap has opened trading for the Kusama/Karura — KSM/KAR — pair as the platform becomes one of the first DEXs to launch on Polkadot and Kusama. Karura, the Kusama implementation of the Acala protocol, has launched its decentralized exchange (DEX) platform, Karura Swap.According to the announcement issued on Friday, the DEX platform is now live, with KSM/KAR being the first trading pair on the exchange.Per details provided by the announcement, Karura Swap has gone live with an initial total value locked north of $3.4 million, with more than 1,000 unique liquidity providers (LP).The team revealed that the DEX launch highlighted the benefits of its “Bootstrap feature” that provides a liquidity sandbox for trading pairs with the walled environment, reportedly preventing front-running and market manipulation during the initial launch of a trading pair.“With Bootstrap, Karura aims to empower trustless trading at fair market rate to reflect the tenets of equitable…Read More

  • Cointelegraph.com News - 23 July 2021, 12:09 pm

    The new Amazon position requires a deep understanding of the digital currency and cryptocurrency ecosystems and related technologies. Tech giant Amazon is looking to dive into digital currency and blockchain development with a new major hire within its payments-focused team.Amazon’s payments acceptance and experience team is seeking a digital currency and blockchain product lead to develop the company’s strategy of digital currency and blockchain as well as a product roadmap. The team is responsible for Amazon’s customers’ payments on Amazon’s sites and through its global services.Posted on Thursday, the new role seeks an experienced product leader with expertise in blockchain, central bank digital currencies and cryptocurrencies to “develop the case for the capabilities which should be developed” and drive overall product vision.The new Amazon digital currency lead will work closely with teams across Amazon to design the roadmap, including the customer experience, technical strategy and capabilities, the posting notes.The application…Read More

  • Cointelegraph.com News - 23 July 2021, 10:56 am

    Traders flock to the gaming cryptocurrency in the wake of a sector-wide price rally, but its gains are comparatively higher — much higher. The price of Axie Infinity’s native token, AXS, more than doubled in just three days of trading amid speculation that it is going to revolutionalize the blockchain-enabled gaming industry forever.The AXS/USD exchange rate reached a record value of $32.69 on Friday, up 31.28% intraday, and about 131% from its Tuesday low of $14.09. That placed the pair in the list of best-performing digital assets on a year-to-date timeframe; its 2021 gains are now above 5,000%.Axie Infinity’s massive upside moves appeared due to its rising popularity as a play-to-earn gaming service. In detail, the Ethereum-enabled blockchain project is a Pokemon-like game, wherein players adopt, breed and trade digital pets — called Axies — in the form of nonfungible tokens.Axie developer Sky Mavis called the game “a nation with…Read More

  • Cointelegraph.com News - 23 July 2021, 10:32 am

    The Twitter CEO sees opportunities to integrate Bitcoin into services such as commerce, subscriptions and new features such as Twitter Tip Jar and Super Follows. Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, will be one of the key trends for the future of Twitter, CEO Jack Dorsey declared.The Twitter CEO said that Bitcoin would be a “big part” of the company’s future at the second-quarter earnings call, outlining the digital currency’s potential to further transform Twitter products and services.Referring to Bitcoin as a native currency of the internet, Dorsey described opportunities to integrate BTC into existing Twitter services including commerce, subscriptions and new features such as Twitter Tip Jar and Super Follows.The CEO explained to investors that a lot of Bitcoin-enabled innovation is “above just currency to be had,” as Twitter is committed to decentralize social media and provide more economic incentives. He noted that Bitcoin is one…Read More

  • Cointelegraph.com News - 23 July 2021, 10:11 am

    Alongside Coinbase itself, the class action names CEO Brian Armstrong, CLO Paul Grewal, other top executives and several of its venture capital backers as defendants. A Coinbase shareholder has filed a securities class action against Coinbase for allegedly misleading investors ahead of its public listing about the company’s financial state and resilience as a crypto trading platform.Filed by law firm Scott + Scott in the California Northern District Court on Thursday, the class action names Coinbase shareholder Donald Ramsey as a plaintiff, both individually and on behalf of all other investors similarly situated. Ramsey is pursuing his claims under the United States Securities Act and has presented evidence drawn from Coinbase’s regulatory filings with the U.S. Securities and Exchange Commission, company press releases, analyst reports and other publicly disclosed information about the exchange.Alongside the company itself, the class action names CEO Brian Armstrong, chief legal officer Paul Grewal and other top…Read More

  • Cointelegraph.com News - 23 July 2021, 9:23 am

    Data shows anonymous entities becoming an ever larger force on the Bitcoin mining scene this year and last. Bitcoin (BTC) has become considerably more decentralized in the past year, one metric suggests — and the trend is growing.According to data from on-chain data resource Blockchain.com, hash rate distribution is increasingly favoring small, unknown miners. Small guys increase slice of mining pieDespite the past 12 months seeing a large price run-up, Bitcoin miners have not become more “corporate” — mining is actually seeing more anonymous as small-scale entities join in.Looking at hash rate distribution, the trend is in evidence ever since the March 2020 crash, and this year has gathered pace. The drawdown from $64,500 all-time highs precipitated the move toward smaller players, which is something that would be expected from a falling hash rate incentivizing them to mine.Bitcoin mining hash rate distribution chart. Source: Blockchain.comAs Cointelegraph reported, meanwhile, the hash rate…Read More

  • Cointelegraph.com News - 23 July 2021, 9:09 am

    The Central Bank of Nigeria will start the pilot of its central bank digital currency, which runs on the Hyperledger Fabric blockchain, on Oct. 1. For much of 2021, the Central Bank of Nigeria (CBN) has been in the headlines for its anti-cryptocurrency measures. Yet, the institution has this week redoubled its investment and research into crypto’s underlying technology, blockchain, and has set a clear date for the pilot scheme of its blockchain-powered central bank digital currency (CBDC).On Oct. 1, CBN will reportedly launch a pilot scheme for “GIANT,” a CBDC project in development since 2017 that runs on the open-source blockchain Hyperledger Fabric.Rakiya Mohammed, CBN’s information technology director, said the bank might conduct a proof-of-concept before the end of 2021. In a webinar this week with stakeholders, CBN representatives reportedly emphasized that the institution could not afford to be left behind while the vast majority of central banks worldwide…Read More

  • Cointelegraph.com News - 23 July 2021, 9:01 am

    Binance is set to face heavy regulations in the future with the mindset of shifting from a tech startup to a financial service, Changpeng Zhao said. Binance US, a United States-based cryptocurrency exchange operating separately from Binance, is looking to go public despite the ongoing regulatory crackdown on Binance.Changpeng Zhao, founder and CEO of the global exchange Binance, talked about its ongoing regulatory issues and future plans at the blockchain virtual summit REDeFiNE Tomorrow 2021 on Friday.The CEO expressed confidence that Binance is set to face heavy regulations in the future, noting that the company “is in the mindset of shifting from a tech startup to a financial service.” Zhao reiterated that Binance had been aggressively increasing its compliance efforts, including hiring former regulators.Zhao admitted that the company’s efforts to cooperate with regulators have not been the firm’s “strong suit,” pointing out the urgent need to localize compliance communications.But despite…Read More

  • Cointelegraph.com News - 23 July 2021, 5:27 am

    “We know our younger generation of customers seek additional products and services that are relevant to them,” said Zip co-founder Peter Gray. Australian “buy now, pay later” (BNPL) firm Zip is looking to enter the crypto market by offering trading services to users within the next 12 months. Zip co-founder Peter Gray told Reuters on July 22 that expanding support for crypto trading services and providing a digital wallet were two of the top requests from its clients. The co-founder kept his cards close to his chest, however, and didn’t outlay a specific roadmap or timetable to get there. “We know our younger generation of customers seek additional products and services that are relevant to them,” Gray said.The Afterpay competitor serves customers in Australia, New Zealand and the United States under its American Quadpay unit. The firm recently announced that Quadpay will be rebranded to Zip to increase brand awareness as…Read More

  • Cointelegraph.com News - 23 July 2021, 4:17 am

    KFC wants to promote its branding to Koreans through nonfungible tokens. Entertainment and nonfungible token marketplace TriumphX has signed a memorandum of understanding (MOU) with fast-food giant KFC in South Korea.The agreement will focus on joint blockchain research with the aim of integrating NFT technologies and enhancing the branding of the fried chicken outlet.According to reports in local media, KFC Korea plans to introduce blockchain and NFT technology to its branding content. The fast-food franchise intends to issue NFTs to its customers comprising different digital formats including video, art and graphics, and metaverse collectibles.TriumphX’s NFT issuance know-how will be leveraged to create and sell KFC-themed NFTs to a customer base that is already familiar with the Kentucky Fried Chicken brand.Fried chicken and KFC is popular in South Korea with more than 210 outlets nationwide. According to a 2019 SCMP report, there were more fried chicken restaurants in the country than…Read More

  • Cointelegraph.com News - 23 July 2021, 4:04 am

    Roughly 75 million MAGACOIN were created to support pro-Trump candidates in 2022. The launch of a cryptocurrency developed by Donald Trump supporters last week has been marred by a website data breach. According to The Guardian, user information including IP addresses, email addresses and passwords were accessed via a poor security configuration on the project’s website. The crypto is dubbed MAGACOIN after former President Trump’s “Make America Great Again” slogan. The project’s website claims that MAGACOIN was “created by America First Conservatives out of frustration with “Losing the Election” (the site has it in quotes) and “a desire to fight back by supporting MAGA candidates in 2022 and beyond” with profits from the coin.An unnamed and self-described hacktivist told The Guardian that more than 1,000 people have signed up, including Republican figures and conservative media personalities, with the majority of hodlers having around 100 MAGACOIN. The project’s creator, used car…Read More

  • Cointelegraph.com News - 23 July 2021, 3:11 am

    The white hat hacker claims to have mercifully minimized the damage of their $8 million exploit in a bid to teach THORChain a lesson. Cross-chain decentralized exchange THORChain has suffered its second multimillion-dollar hack in as many weeks, with $8 million worth of Ether impacted.However, the attack appears to have been carried out by a white hat hacker, with THORChain announcing the perpetrator had requested a 10% bounty. ETH will be halted until the code has been audited.Liquidity providers impacted by the exploit will be subsidized using the project’s treasury funds.The whitehat requested a 10% bounty – which will be awarded if they reach out, and they should be encouraged to do so. It is a tough time for the community and project, and the pain is real. The treasury has the funds to cover, but it's time to slow down.— THORChain (@THORChain) July 23, 2021 The exchange — which…Read More