Crypto
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US senator submits resolution to allow crypto payments in Capitol Complex
U.S. Senator Ted Cruz of Texas submitted a resolution on the Senate floor Monday that would require the acceptance of cryptocurrency payments at all gift shops, restaurants and vending machines located within the Capitol Complex. The resolution, titled Adopting Cryptocurrency in Congress as an Exchange of Payment for Transactions, or ACCEPT, also prohibits the Architect of the Capitol — a presidential appointee who oversees the administration of the Capitol Complex — from entering into contracts that preclude the use of cryptocurrency as a form of payment provided that they “are cost-effective and value-centered for patrons.” Cruz said in an interview with Breitbart news “As consumers better understand and embrace cryptocurrency, merchants are increasingly accepting crypto as a paymen...
Marathon Digital stock reaches 6-year high as company HODLs $460M Bitcoin
United States-based crypto mining company Marathon Digital Holdings holds more than $460 million in Bitcoin (BTC), mainly from mining and purchases since last year. According to a Tuesday report, the mining firm said it had been HODLing all Bitcoin generated from its mining operations — roughly 2,640 BTC — since its last sale in October 2020. In addition, Marathon Digital purchased more than 4,812 BTC in January when the price of the crypto asset was under $35,000. At the time of publication, the BTC price is $62,056, giving the mining firm’s 7,453 BTC holdings a value of roughly $462 million. The company has continued to ramp up its mining operations despite global supply chain issues affecting the distribution of crypto mining rigs. Marathon Digital reported it had chartered planes ...
EOS was a victim of its own success: CEO Yves La Rose
EOS Foundation CEO blames Block.one for the company’s current state In a speech that was aimed at acknowledging the current state of the EOS ecosystem and mapping a path for the future of the EOS community, EOS Foundation CEO Yves La Rose stated that the token’s dwindling market capitalisation and value over the last three years has shown that it has been a terrible investment. In what was the CEO’s first public appearance after the announcement of the launch of the EOS Foundation, La Rose called EOS a “victim of its own success” and stated that the token as it stands is a failure. “It’s been a terrible financial, time and community investment. The reality is that many people no longer want to be associated with EOS because of its tarnished reputation,” La Rose stated acco...
NYSE Arca files with SEC to list Bitwise Bitcoin ETP Trust
NYSE Arca, a subsidiary of the New York Stock Exchange (NYSE) Group, wants to list and operate a trust based on Bitcoin (BTC) exchange-traded products (ETP). In a rule-change proposal with the United States Securities and Exchange Commission, NYSE Arca proposed to list shares of the Bitwise Bitcoin ETP Trust. The proposal clarifies that each share of the trust will be represented by fixed “units of undivided beneficial ownership,” allowing the shares on the stock exchange to reciprocate their value in accordance with Bitcoin’s market price. Moreover, the trust will be operated by two third-party associates serving as the trust’s custodian, administrator and transfer agent. According to the filing: “Under normal circumstances, the Trust’s only asset will be bitcoin, and, under limited...
Cryptocurrency trading platform Crypto.com to debut UFC NFTs
On Tuesday, crypto trading and payments firm Crypto.com revealed the release of the first authorized UFC nonfungible token (NFT). According to the news release, the UFC’s new NFT series will include digital collectibles such as fight night paintings, event posters, championship belts, fighter personas and avatars. On Thursday, the collection of NFTs known as “UFC 268 Packs” will be made available. The upcoming bout “UFC 268: Usman vs. Covington 2” will be represented by this event’s fight posters and belt designs. The NFTs will be accessible for purchase to fans “while supplies last.” According to Cointelegraph in July, the world’s largest mixed martial art entertainment firm, UFC, signed a $175-million sponsorship deal with Crypto.com. During a press conference at Madison Squar...
Over 140 million people have digital yuan accounts, says PBoC head
China’s trials with central bank digital currency (CBDC) show no signs of slowing down, as the updated numbers for October 2021 were revealed at Hong Kong Fintech Week. Set out to replace cash in day-to-day transactions, the digital yuan (e-CNY) is gaining traction among individuals and corporates alike, according to the People’s Bank of China’s (PBoC) Digital Currency Institute head Mu Changchun. Speaking at the conference on Wednesday, Mu said the number of individual digital yuan accounts hit 140 million, while corporates created another 10 million accounts. While the official launch date is still unclear for the e-CNY, China has continued to expand the rollout of trials to more than a dozen regions. With a wide range of merchants from utilities, catering services and transportation to ...
To the moon: Huobi wants to send someone to space for its 8th birthday
Huobi Group, a major global blockchain company behind the world’s third-largest cryptocurrency exchange by trading volume, is celebrating its eighth birthday in a somewhat unusual way. The company will hold a series of events as part of its eighth-anniversary celebrations, including giveaway promotions and a space travel ticket, Huobi told to Cointelegraph on Wednesday. Huobi will hold a contest that will offer one lucky winner an experience to literally travel into space. All Huobi Global users across the world are eligible to participate in a free contest, but there are certain limitations. “There are still health requirements that have to be passed in order to go to space, but these details will be revealed at a later point,” Jeff Mei, director of global strategy at Huobi Group, to...
El Salvador to use surplus Bitcoin Trust funds to build 20 schools
El Salvador is the most progressive cryptocurrency in the world at the moment after making Bitcoin an official tender two months ago. The government of El Salvador has revealed that it intends to build 20 schools from the profit it makes with its Bitcoin Trust. This latest development is the government’s next project as it looks to make cryptocurrencies more appealing to its citizens. In September, El Salvador made Bitcoin a legal tender. The leading cryptocurrency is now accepted alongside the US Dollar as payment options for goods and services in the country. Since then, the government has been rolling out numerous initiatives to promote the use of Bitcoin for carrying out everyday transactions. The Press Secretary of the Presidency revealed yesterday that the government would use some o...
Solana rallies by more than 11%. Will It overtake the USDT coin next?
Solana has rallied by more than 11% over the past 24 hours, surpassing Cardano in terms of market cap and looks set to surge higher in the coming days. Solana has become the fifth-largest cryptocurrency by market cap after setting a new all-time high earlier today. SOL rallied to a new all-time high of $230 a few hours ago, overtaking Solana to become the fifth-largest cryptocurrency by market cap. At the time of writing, Solana is trading at $228 per coin, up by more than 12% over the past 24 hours. Solana’s market cap currently stands at $68 billion, just a few hundreds of millions ahead of Cardano. Cardano (ADA) previously occupied third place behind Bitcoin (BTC) and (ETH). However, Binance Coin (BNB) experienced a surge in price to take over the third place while Tether (USDT) now occ...
Laotian govt budget expected to gain $194M from crypto miners by 2022
The Laos government’s pilot project to explore cryptocurrency mining and trading is expected to bring in roughly $194 million towards the country’s total domestic revenue projected for 2022. According to a Nov. 2 report from Malaysian news outlet The Star, the Laotian government’s recent bid to capitalize on China’s crypto mining crackdown may be netting the country 2 trillion kip — roughly $194 million at the time of publication — in revenue from six firms. The companies in the public-private mining pilot program officials approved in September include Wap Data Technology Laos, Phongsubthavy Road and Bridge Construction, Sisaket Construction Company Limited, Boupha Road-Bridge Design Survey, Joint Development Bank, and Phousy Group. The government reportedly said the funds would increase ...
Illuvium, LCX and Tokemak hit new highs as Bitcoin dominance lingers
During bull markets, altcoins tend to accrue gains when Bitcoin price consolidates and at they run in tandem with BTC price during breakouts. This dynamic appears to be at play today because multiple altcoins went parabolic at the same time that BTC made a run at $64,000 and Ether (ETH) hit a new all-time high above $4,500. According to data from Messari, 31 tokens have established new record-highs in the past 24-hours and the total cryptocurrency market cap increased from $2.619 trillion to $2.732 trillion overnight. Top 13 tokens to recently establish a new all-time high. Source: Messari Let’s take a closer look at the motivating factors behind the rallies in LCX (LCX), Illuvium (ILV) and Tokemak (TOKE). LCX benefits from new exchange listings LCX is the native token of the Liechte...
Commonwealth Bank to enable crypto trading for 6.5M Aussies, ‘other banks will follow’
The Commonwealth Bank of Australia (CBA) is set to launch crypto trading services for the 6.5 million users of its CommBank app. The CBA will become the first bank in Australia to support crypto, and Blockchain Australia says it is “inevitable” that the other ‘big four’ banks including National Australia Bank (NAB), Australia and New Zealand Banking Group (ANZ) and Westpac will soon follow suit. According to a Nov. 3 announcement, the CBA has partnered with the Gemini crypto exchange and blockchain analysis firm Chainalysis to launch its crypto services. The bank will launch a pilot for a limited number of customers in the coming weeks, before rolling out the full service in 2022. Ten crypto assets will be supported in its banking app, with Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH)...
