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After the downfall of the two most popular crypto assets on the Terra blockchain, the digital currencies terrausd (UST) and luna classic (LUNC) increased a great deal in value against the U.S. dollar in recent times. During the last seven days, LUNC has risen 96.3% and the once-stable coin UST has increased 472.4% this week. Luna Classic and the Once-Stable Coin UST Rise Significantly Against the US Dollar It’s pretty well known in the world of digital currencies that some crypto assets never die. That seems to be the case with the two notorious crypto assets luna classic (LUNC) and terrausd (UST), a former stablecoin that is sometimes referred to as terraclassicusd (USTC). LUNC took the name luna classic because Terra’s new token is now referred to as LUNA. UST was once stable and held the $1 parity from October 2020 up until May 9, 2022. When UST depegged it dropped below a U.S. penny, and tapped a low of $0.006 per unit on June 18, 2022. However, since the $0.006 per unit low, ...

PRESS RELEASE. Crypto investment platform Midas Investments has reported that it has created an infrastructure that is designed with built-in, automated tools and strategies that don’t require investors to master the nature of trade within the volatile decentralized finance market. Traditional CeFi refers to centralized finance mechanisms such as crypto lending and borrowing, which have been used to generate moderate passive yields for investors from as far back as 2016. Contrary to DeFi, CeFi is different in that security measures are strict and investor activity is closely regulated by measures like KYC/AML. Human involvement is also vital, being pertinent to network processes, as established on original platforms like Crypto.com. CeDeFi bridges the gap between the centralized and decentralized finance worlds. Midas Investments reports that it is built upon a similar model as CeFi platforms like Nexo and combines it with algo and DeFi strategies together to offer hybrid yields st...

The Foresight Ventures founding and partnership team includes veterans of some of the top financial and technology firms dedicated to sourcing and supporting the next generation of disruptive innovations across Web3. They believe the future is multi-chain and thus the chains that find product market fit will all need partners to help expand their ecosystems. They hope to become that partner, investing early and supporting their ecosystems by holding and providing resources for growth. Tony Cheng, general partner from Foresight Ventures , recently joined the Bitcoin.com News Podcast to talk about the market: Tony graduated from Nankai University with a BSc in Applied Mathematics, then went on to the University of Oxford for post-graduate studies resulting in a MSc in Financial Economics. After graduation Tony worked as a management consultant at Oliver Wyman in HK, mainly covering financial services and Fintech clients in the APAC region. After doing many consulting projects for F...

PRESS RELEASE. The cryptocurrency industry has certainly become oversaturated with hundreds of crypto projects being established everyday with many of them failing before ever reaching any significant milestone. The mass success of the industry has led to many believing they can achieve that very same amount of success despite not putting in as much work or providing as many solutions for users in the crypto space. The likes of Binance Coin ( BNB ) and Cardano ( ADA ) has long been established as two of the most influential cryptocurrencies and have both reigned as top 10 cryptocurrencies, measured by market cap, according to data from CoinMarketCap, for a number of years. Offering different solutions in the crypto space, their dominance has inspired many new projects including Xchange Monster (MXCH) who aim to make a similar impact in its respective sector, which is the GameFi sphere. What does Xchange Monster (MXCH) have to do to reach the pinnacle of crypto? The most imp...

On Tuesday, the Canada-based investment firm Cypherpunk Holdings Inc. announced that the company has sold all of its bitcoin and ethereum due to the “risk of further significant drawdowns.” The company has transitioned its treasury to cash after selling 214.72 bitcoin and 205.82 ethereum as Cypherpunk Holdings continues “to see systemic risks propagating” across the crypto economy. Cypherpunk Holdings Sells All of the Bitcoin and Ethereum on Its Balance Sheet Crypto winter has done a lot of damage since the bull run’s price highs, as more than $2 trillion has left the digital currency economy since the first week of November 2021. Today, the crypto economy is worth roughly $945 billion and bitcoin (BTC) is coasting along just above the $20K per unit range. BTC is down more than 70% from the all-time high ($69K) on November 10, 2021, and ethereum (ETH) has lost more than 77% since the ATH ($4,878) recorded on the same day. On June 28, 2022, or eight months later, the publicly li...

Taiwan’s central bank is yet to conclude work on its central bank digital currency (CBDC) and according to the bank’s governor, the institution may need two more years to finish its work, a report has said. Some of the bank’s next tasks include winning the public’s support, ensuring the system is stable, and building the currency’s legal framework. Simulating Use of the CBDC Some two years after work on Taiwan’s central bank digital currency (CBDC) commenced, the governor of the country’s central bank, Yang Chin-long, recently revealed that his organization is still working on the project. Yang warned the central bank may need as long as two years to complete the task. Yang, who spoke at a digital currencies forum, also disclosed the central bank had been simulating the use of the CBDC in what a Reuters report called a closed-loop environment. However, the same report said the central bank now faces three key tasks. These include communicating and ultimately winning the public’s s...

E-commerce giant Ebay has filed two trademark applications covering a wide range of products and services relating to the metaverse and non-fungible tokens (NFTs). Ebay’s NFT, Metaverse Trademark Applications Ebay Inc. (Nasdaq: EBAY) filed two trademark applications with the United States Patent and Trademark Office (USPTO) last week covering a wide range of products and services relating to non-fungible tokens (NFTs) and the metaverse. A USPTO-licensed trademark attorney, Mike Kondoudis, tweeted Tuesday: “Ebay Inc. is coming to the metaverse.” He explained that the filings indicate the e-commerce giant’s plans for virtual good marketplaces, online retail stores with actual and virtual goods, NFTs, NFT exchanges, and NFT trading. The applications’ serial numbers are 97473696 and 97473620. One day before Ebay filed the two trademark applications, the company announced that it has acquired NFT marketplace Knownorigin. According to Ebay, the two companies signed and closed the deal...

Warren Buffett-backed Nubank, one of the world’s largest digital banking platforms, is now offering cryptocurrency trading to all of its 54 million customers. Nubank also holds bitcoin on its balance sheet. Nubank’s Crypto Service Now Available to All Customers Nubank, one of the world’s largest digital banking platforms, now offers cryptocurrency trading to all clients, according to its blog post, updated Monday. The bank serves around 54 million customers across Brazil, Mexico, and Colombia. “Nubank Cripto is the solution to buy and sell cryptocurrencies directly through the Nu app,” the bank wrote, adding: The option to buy cryptocurrencies through Nubank is now available to all our customers. Update your app. “To help you enter this universe more safely, we decided to offer, first, the largest cryptocurrencies on the market: bitcoin and ether,” the bank added. Nubank further clarified: For this launch, Nubank has a partnership with Paxos, an exchange specializing in cryp...

Microstrategy has purchased more bitcoin amid a heavy market sell-off. The announcement followed a clarification by the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, stating that bitcoin is a commodity. Microstrategy Buys the Dip The Nasdaq-listed software company Microstrategy has bought the bitcoin dip again. In a Wednesday filing with the U.S. Securities and Exchange Commission (SEC), the company declared that during the period between May 3 and June 28, it “acquired approximately 480 bitcoins for approximately $10.0 million in cash, at an average price of approximately $20,817 per bitcoin, inclusive of fees and expenses.” The filing adds: As of June 28, 2022, Microstrategy, together with its subsidiaries, held an aggregate of approximately 129,699 bitcoins. Overall, the company’s BTC “were acquired at an aggregate purchase price of approximately $3.98 billion and an average purchase price of approximately $30,664 per bitcoin, inclusive of fee...

PRESS RELEASE. SANTA CLARA, CA, June 29, 2022/ — Cappasity provides solutions for 3D digitizing of products for online stores and classifieds. Soon, the platform will offer an NFT service, allowing store owners to create a new communication and marketing channel with their customers. Cappasity users will get the opportunity to create NFTs based on uploaded 3D product visuals in just a couple of clicks. On top of that, a Cappasity NFT contains a section for additional materials that can be added even after the store’s customer receives the NFT. In this way, the NFT owner gets access to an individual VIP channel for communicating with the business. They could receive exclusive offers, unique materials, or invitations to the special events. Demo of creating an NFT on the Cappasity platform: Stores will be able to give NFTs to their customers as a gift or sell them directly on the platform. Cappasity’s enterprise clients will also be able to use tools, allowing them to provide custom...

Mercado Pago, the digital payments company related to Mercadolibre, has recently announced the extension of the crypto services that it provides to users in Brazil. The company revealed it will now allow customers to deposit their own cryptocurrencies through third-party services and wallets into their cryptocurrency digital wallet with no cost associated. Mercado Pago to Allow Deposits From Third Party Services Mercado Pago, the payment processing service of Mercadolibre, one of the biggest e-tailers in Latam, has announced it will be expanding the array of crypto-related services for Brazilian customers launched back in November. The company reported that it will open its platform for customers to receive deposits in crypto coming from third-party services, including other exchanges and other digital wallets. In a statement sent to Portal do Bitcoin, Mercado Pago stated : From today, it will be possible to receive Bitcoin, Ethereum and Pax Dollar from other digital wallets thr...

The chairman of China’s Blockchain Service Network (BSN) Development Alliance Shan Zhiguang, and his colleague, insisted in a recently published op-ed that virtual currency is “undoubtedly the largest Ponzi scheme in human history.” However, they have said the “value of blockchain technology should not be ignored because of virtual currency.” Opinion Piece Claims 90% of 100 Richest People Have Bad-Mouthed Virtual Currency The chairman of the Chinese Blockchain Service Network (BSN) Development Alliance, Shan Zhiguang, and executive director He Yifan, have said virtual currency is “undoubtedly the largest Ponzi scheme in human history.” They also claimed that this Ponzi scheme has since morphed into one that is “no longer just about cash.” In a recent opinion piece published by the People Daily Online newspaper, the BSN chairman and his colleague begin their attack on virtual currency and bitcoin by pointing to the fact it has been “bad-mouthed” by at least 90% of the 100 richest p...

PRESS RELEASE. With crypto markets down around 50% in the past month and over 70% from their highs in late 2021, many crypto investors are searching for answers after their profits from the last few years have evaporated into the ether. Following the incredible bull market, crypto investors enjoyed over 2020 and 2021; you may now find yourself nursing losses rather than gains ahead of the upcoming tax season. Crypto tax platform Koinly shares 5 little-known tax hacks you need to know after the crypto crash. 1. Pay less tax by holding Want to avoid paying tax on crypto? While you can’t dodge your tax obligations entirely – there are quite a few ways you can optimize your tax position. But here’s the catch, you’ll need to do it before the end of the financial year to pay less tax overall. You’ve probably heard it before, but the easiest way to pay less crypto tax is to simply HODL. In many jurisdictions, holding your crypto investment (or other assets like shares) for longer than...

The results of a new report commissioned by the CNMV, the securities watchdog in Spain, have found that three out of four citizens have heard about cryptocurrencies. However, the report, which included opinions from 1,500 participants, also found that this knowledge is still minimal, and that less than 10% have actually purchased cryptocurrency as a means of investment. CNMV Reveals Results of Crypto Study The CNMV, the institution that oversees the securities markets in Spain, has revealed the results of its latest cryptocurrency report. The study , commissioned by the institution and carried out by a company called “Grupo Analisis e Investigacion,” surveyed 1,500 participants and an alternative sample of 300 cryptocurrency investors to take a snapshot of the penetration that crypto has had regarding Spanish investors. One of the most relevant results of the study has to do with the popularity of crypto in the country. According to the numbers released, three out of every four Spa...

During the past 30 days, $285 billion has left the crypto economy and bitcoin’s USD value hit a 2022 low at $17,593 per unit on June 18. Moreover, last month’s statistics show bitcoin’s market dominance was 2.9% higher and ethereum’s market dominance was 2.1% higher than it is today. Bitcoin and Ethereum Dominance Has Dropped Over the Last Month The crypto bear market has done some damage to the digital currency economy and many continue to wonder if the market carnage will continue. The market has seen a brief consolidation period after the most recent sell-off, which took BTC down to $17,593 per unit and ETH dipped to $877 per coin. Both coins have seen a significant amount of fiat value removed since last month and BTC ’s and ETH ’s market dominance has decreased since then as well. At the time, BTC was trading for $28,946 per unit on May 27, 2022 , and ETH was exchanging hands for $1,745 per unit. At the time of writing, BTC is exchanging hands for just above $21K per uni...

ETH has managed to remain above the $1,200 level on Tuesday, despite an increase in price uncertainty in crypto markets. BTC fell below $21,000 in today’s session, as the global crypto market cap fell by as much as 2% earlier today. Bitcoin Following a marginally bearish start to the week, downward pressure intensified in today’s session, sending bitcoin slightly lower. The world’s largest crypto token fell to an intraday low of $20,577 during Tuesday’s session, less than 24 hours after nearing $22,000. Today’s decline comes following a rise of bearish sentiment, with traders seeing yesterday’s decision by bulls to secure gains as a sign of weakness. As such, those looking for downward opportunities used that as a signal to re-enter the market, pushing prices marginally lower in the process. One of the main catalysts for this change in sentiment is the 14-day RSI, which failed to break out of its key resistance level of 35.70 on Monday. As of writing, BTC /USD is now trading ...

Analysts from the multinational investment bank and financial services company Goldman Sachs Group Inc. have downgraded Coinbase Global Inc. in a note to investors on Monday. Today, Coinbase shares are down 83.68% from the stock’s all-time high (ATH) in November 2021. Goldman analyst William Nance explained that his group of market strategists believes “Coinbase will need to make substantial reductions in its cost base.” Goldman Downgrades Coinbase, COIN Shares Down 83% From Price High Coinbase shares have suffered during the bear market as many crypto company stocks have lost considerable value during the last few months. When Coinbase first went public on April 14, 2021, the company’s shares were listed on Nasdaq via a direct listing under the ticker COIN . At the time, the Coinbase initial public offering (IPO) reference price was set at $250, and investors saw the crypto exchange’s listing as a “watershed” moment. Following the stock coming out of the gate 14 months ago, amid ...

After seeing the country’s inflation rise to 191.6% in June, Zimbabwean monetary authorities said they have resolved to increase the benchmark interest rate to 200% per annum. In addition, the central bank said it will introduce gold coins which will act as an instrument that will “enable investors to store value.” Discouraging Speculative Borrowing Monetary authorities in hyperinflation-stricken Zimbabwe reportedly plan to hike the benchmark interest rate to 200% per annum, one of the highest in the world. According to an official quoted by Bloomberg, this plan is expected to help put the brakes on the country’s runaway inflation. The latest data from Zimbabwe’s statistical body shows the country’s inflation rate now stands at 191.6%. Explaining the rationale behind the planned move, Persistence Gwanyanya, a member of the Reserve Bank of Zimbabwe (RBZ)’s monetary policy committee, said that by hiking the benchmark rate the central bank will discourage speculative borrowing. Gwany...

Cryptoys, an NFT-based startup, announced it has raised $23 million in a Series A funding round led by a16z. The company, which seeks to mix NFTs with the world of gaming and virtual toys, will create what it calls a “cryptoyverse,” in which it will also implement play-to-earn features and issue its own tokens. Cryptoys Raises $23 Million in Series A Round The NFT market is facing a slump phase that is affecting prices and the popularity of NFT projects recently. However, there are projects that have managed to stay afloat and even thrive. One of them is Cryptoys, an NFT startup that has announced the completion of a successful funding round. The Series A funding round, which raised $23 million, was led by a16z crypto , with the participation of other companies and firms including Mattel, Dapper Labs, Draper & Associates, Acrew Capital, Coinfund, Animoca Brands, and Sound Ventures. The company will use these funds to further develop its own platform, dubbed “cryptoyverse,” whi...

The Federal Bureau of Investigation (FBI) has arrested two men who participated “in a violent plan to break into a family’s home in the middle of the night” to steal bitcoin worth tens of millions of dollars,” according to the U.S. Department of Justice. They could go to prison for 20 years. 2 Men Charged for Planning to Steal Bitcoin The U.S. Department of Justice (DOJ) announced Friday the unsealing of an indictment charging Dominic Pineda and Shon Morgan with a “plan to commit home invasion robbery for tens of millions of dollars in bitcoin.” The Federal Bureau of Investigation (FBI) arrested the two on Thursday in Virginia. U.S. Attorney Damian Williams detailed: The defendants participated in a violent plan to break into a family’s home in the middle of the night and force its residents to provide the code to what the defendants believed was tens of millions of dollars in bitcoin currency. According to the court document, the defendants participated in the plan from May 1...

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, says bitcoin is a commodity. He emphasized that the SEC, the Commodity Futures Trading Commission (CFTC), and banking regulators will collaborate to oversee the crypto sector. Gary Gensler: Bitcoin Is a Commodity SEC Chairman Gary Gensler clarified his position on cryptocurrency, particularly bitcoin, in an interview with Mad Money host Jim Cramer on CNBC Monday. “This is a highly speculative asset class. We’ve known this for a long time,” Gensler said when asked about cryptocurrency. Citing the “ups and downs of this speculative asset class,” he explained that when people invest in “bitcoin and hundreds of other crypto tokens,” they hope for a return, “just like when they invest in other financial assets” that are securities. Chair Gensler stressed that many of these “crypto financial assets” have “the key attributes of a security.” He added: “Some of them … are under the Securities and Exchange Comm...

PRESS RELEASE. TAMPA, Fla., June 27, 2022 / — Pocket Network, an infrastructure middleware protocol which facilitates decentralized multichain blockchain access to developer applications in Web3, including Ethereum, Polygon, Gnosis Chain, Avalanche, Solana, Fuse, Fantom and Near , recently marked a significant milestone in its multichain strategy with 50 supported blockchains on its network after integrating Moonbeam and Moonriver blockchains. Pocket has its sight on the century mark – with 100 blockchains supported by the end of 2022. “As we see developer demand drive more activity and apps to a wider variety of blockchains, interoperability challenges, as well as latency and reliability, from centralized infrastructure providers will continue to grow,” said Michael O’Rourke, Co-founder and CEO of Pocket Network. “With our multichain strategy, we are positioned to cement Pocket as the true decentralized, full-node RPC protocol in the industry.” The real breakthrough of a m...

Binance has chosen a new payments partner amid the suspension of direct fiat deposits and withdrawals in Brazil. The company stated it will now work with Latam Gateway, a payments processing company that has been in the payments intermediation business since 2019. Binance reported it would be working to normalize the fiat deposit and withdrawal situation shortly. Binance Partners With Latam Gateway for Payments Processing Binance, one of the leading cryptocurrency exchanges by volumes traded, has announced a new partnership to solve the problems it had been facing with fiat movements on its platform in Brazil. The exchange stated that it has enrolled the services of Latam Gateway, a payments processing company that will substitute its earlier partner, Banco Capitual. In a blog post, the exchange told that Latam Gateway has been a payments processing company in Brazil since 2019, being founded by executives with experience in the field since 2014, when they also founded Boa Compra...

Tencent, the Chinese technology and entertainment giant, announced the creation of its own metaverse-driven division. The division, named the extended reality unit, will be the one tasked with encompassing all metaverse-driven efforts, including hardware and software developments. According to reports, the company aims to employ over 300 in this unit, with Tencent giving it big importance even among executing cost-cutting measures. Tencent Officially Announces Metaverse Division Tencent, one of the biggest Chinese software companies, has taken another step toward getting into the metaverse. According to Reuters , the Chinese tech and entertainment giant announced the creation of its extended reality unit, which will encompass all of the initiatives that the company will run with the goal of entering the metaverse-driven market. The division will be led by the current Global’s Chief Technology Officer Li Shen, and will be part of the entertainment division of the company. While ther...