Crypto

Lead Republican behind infrastructure bill negotiations supports crypto amendment

Senator Rob Portman, one of the lead Republican voices for negotiations over an infrastructure bill in the United States Senate, said he supports an amendment clarifying the intent of a cryptocurrency provision. In a tweet today, Portman encouraged his colleagues in the Senate to vote on an amendment proposed this week by Ron Wyden, Cynthia Lummis and Pat Toomey that suggests striking the definition of brokers in the infrastructure bill to no longer include developers, miners, or blockchain firms in the crypto space. I agree with Senators Wyden, Toomey, Lummis that we can do more to clarify the intent of the cryptocurrency provision & the Senate should vote on their amendment. — Rob Portman (@senrobportman) August 5, 2021 The senator’s stance is somewhat surprising given he has previou...

Swisscom will become a Chainlink node operator

Switzerland-based telecommunications company Swisscom has said it will join Chainlink’s oracle network as a node operator.  In a Thursday announcement, the telecommunications firm said it would be entering the decentralized finance, or DeFi, space by becoming an oracle node operator as part of a pilot program with the Chainlink network. The node, run by Swisscom’s digital asset division, will “continuously feed digital asset price data” to the network and allow applications on Chainlink to better settle financial contracts. “Making reliable off-chain data available on decentralized networks is a critical success factor for the future development of digital assets,” said Swisscom Digital Business fintech innovation manager Dominic Vincenz. Swisscom said the opportunities availabl...

Civic engagement and crypto: Miami unveils its own digital coin

On June 2, 2021, Miami Mayor Francis Suarez tweeted that “MiamiCoin” will be the first “CityCoin” ever to be launched, representing Miami’s very own cryptocurrency. Fast forward about two months later and the anticipation surrounding the release of MiamiCoin has been on the rise.  Initially, it may appear as if the Magic City’s digital currency will function just like other cryptocurrencies that can be bought, sold and traded to profit both investors and the city of Miami. Yet, “MiamiCoin” is quite unique from other digital currencies. A developer platform for cities Patrick Stanley, founder and CEO of CityCoins — the project behind MiamiCoin — told Cointelegraph that MiamiCoin (MIA) can actually be considered as a developer platform for cities. “MiamiCoin, being the first-ever CityCo...

Coinbase CEO Brian Armstrong says proposed crypto tax rule makes no sense

Coinbase CEO Brian Armstrong is the latest crypto figure to come out against the wording of the proposed changes to cryptocurrency taxation in the United States. Tweeting on Wednesday, Armstrong stated that the provisions included in the crypto taxation proposal could have a “profound negative impact” on the U.S. crypto space and could force digital innovation to move overseas. As previously reported by Cointelegraph, amendments to crypto taxation rules were a last-minute addition to the $1-trillion infrastructure deal currently before the United States Senate. The Coinbase CEO, like many other opponents of the proposal, faulted the broad language of the bill’s wording. According to Armstrong, the bill extends the definition of the term “broker” to anyone who facilitates a digital asset tr...

Crypto analytics firm Messari concludes $21M Series A led by Point72 Ventures

Cryptocurrency market intelligence provider Messari has concluded a $21 million fundraise that was supported by some of the biggest venture firms in blockchain, once again highlighting growing investor appetite for budding crypto startups.  The new funding will aid Messari in expanding its product suites as well as hiring and retaining more engineering and research talent. The company also plans to expand its enterprise offerings targeting institutional players. Ryan Selkis, Messari’s co-founder and CEO, further explained to Cointelegraph how the funds will be deployed: “We haven’t yet burnt through our seed capital from 2019, and have been highly capital efficient to date. We expect this capital to help us expand for the next several years, and allow us to pursue selectiv...

EOS eyes the $4.20 resistance point after the latest rally

The cryptocurrency market recovered slightly yesterday, and that could allow EOS to rally higher soon The cryptocurrency market has recovered slightly following the losses of the previous day. Bitcoin climbed past the $38,000 mark yesterday while Ether rose above the $2,600 level. EOS rose by over 2% yesterday, following a 0.02% decline on Tuesday. EOS had a mixed start to the trading market yesterday, falling to a late morning intraday low of $3.92 before it embarked on a rally. After establishing a strong support level at $3.89, EOS rallied to a late intraday high of $4.15. However, it has since dropped to the $4 level and has stayed there over the past few hours. The cryptocurrency market has been experiencing mixed performances in recent weeks. The outlook from some analysts is still p...

Victory Capital files to launch a cryptocurrency ETF

The US Securities and Exchange Commission (SEC) is dealing with an influx of cryptocurrency ETF applications Investment firm Victory Capital has announced that it has filed with the US SEC to launch a cryptocurrency exchange-traded fund. The ETF will be a private fund that will only be available to accredited investors and will track the performance of several cryptocurrencies. According to its press release yesterday, Victory Capital said it filed the S-1 registration form with the SEC on Tuesday. The crypto ETF will track the performance of the Nasdaq Crypto Index, and Victory Capital will work with Brazilian fund manager Hashdex to launch it. Unlike other crypto ETFs that focus on tracking the performance of a single cryptocurrency, the Victory Capital ETF will track the performance of ...

The Graph announces record-breaking $2.5M bug bounty programme

Through its collaboration with Immunefi, The Graph will reward whitehat hackers with payouts from $5k to $2.5M for finding bugs ranging from low severity to critical Blockchain indexing and querying protocol The Graph announced yesterday the launch of its record-breaking bug bounty programme, which will see a maximum payout of $2.5 million — the largest active security bounty in the world. The Graph enables data to be transformed, organised and shared across applications through the building and publishing of open APIs called subgraphs. This data can quickly and reliably be queried by decentralised applications (dApps) on networks such as Ethereum, IPFS, Avalanche and Celo. In total, The Graph supports data querying on 22 different networks and more than 18,000 subgraphs have been deployed...

Oscar Mayer auctions one-off pack of ‘Hot DOGE’ Wieners

American manufactured meat company Oscar Mayer is auctioning off a one-of-one pack of “Hot Doge Wieners” on Ebay. The limited edition pack of Dogecoin themed wieners includes 10 sausages and a picture of the beloved Shiba Inu dog on the packaging, along with the “cash equivalent” of 10,000 Dogecoin (DOGE). The auction is set to close on Aug. 7 however the listing has been temporarily taken down with the firm noting on Twitter today that “you guys really took this to the moon. The link is down but will be up soon!” During the initial hours of bidding, Redditors in the r/dogecoin community spotted a bid of $3050 during the auction. That might seem like a lot considering the “collectors item” has a maximum shelf life of three months (if stored in a freezer) — and the winner needs to allow “3-...

Ripple granted access to Binance’s records in SEC securities case

The ongoing case between fintech firm Ripple and the U.S. Securities and Exchange Commission (SEC) took another turn this week when the company was granted access to Binance’s documents. U.S. Magistrate Judge Sarah Netburn granted Ripple CEO Brad Garlinghouse’s motion to “Obtain international discovery” of Binance records. According to the docket, the approval was made on August 3 while a duplicate request was denied: “ORDER granting 274 Letter Motion for Discovery. The Court will communicate with counsel to arrange delivery of the letters.” As part of the case against Ripple for selling unregistered securities, the SEC claims that Garlinghouse sold more than 357 million XRP tokens on crypto trading platforms to investors “all over the world.” The legal team representing Garlinghouse...

Nifty News: NFTs in space, defunct CryptoPunks, Ernst & Young gets in on the act

One small step for NFTs… Two companies teamed up to stream a recording of composer Claude Debussy’s “Clair de Lune” to, and from, the International Space Station on July 28, reportedly marking the first instance in which a nonfungible token (NFT) has orbited the Earth. The orbital NFT expedition is the product of a partnership between Artemis Music Entertainment and space services company Nanoracks LLC, with the two firms minting the track as a nonfungible token after the hard drive the file was stored on completed one orbit of the Earth over roughly 90 minutes. “The cosmic perspective of space inspires a cognitive shift in humans,” said Artemis Music co-founder Bob Richards, adding: “‘Clair de Lune’ perhaps comes as close as possible to stirring the emotions ...

Ethereum is becoming ultrasound money, ConsenSys founder says

ConsenSys founder and Ethereum (ETH) co-founder Joseph Lubin has implied that Ethereum is transitioning to “ultrasound money” status ahead of the London hard fork slated to activate around 12:30 pm UTC Aug. 5. During an interview with Bloomberg TV, Lubin was questioned on the imminent EIP-1559 upgrade, which will see Ethereum transition away from a bidding-based fee market to a fixed price and burn mechanism. Lubin stated that the London hard fork is part of a broader global movement in which the first step is the “democratization of the Earth,” and the second step is the democratization of the decentralized finance (DeFi) system and the introduction of ultrasound money: “The second step that’s in full play right now is the democratization of the global decentralized finance sys...