Crypto
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US Air Force prioritizes blockchain security with new Constellation Network contract
A blockchain-based initiative from the United States Air Force will employ Constellation’s Hypergraph Network to provide data security with the Department of Defense’s commercial partners. In a Thursday announcement, Constellation said it had been working with Kinnami Software Corporation to develop an end-to-end data security solution using blockchain encryption and distributed data management for the United States Transportation Command, Air Mobility Command’s 618th Air Operations Center, and a Civil Reserve Air Fleet partner. According to the platform, its goal is to securely exchange data with commercial partners on missions involving the operations of aircraft and ships under contract to the Department of Defense, or DoD. The United States Transportation Command, or USTRANSCOM, ...
3LAU introduces blockchain music platform Royal with $16M raise
Electronic dance music producer and DJ Justin Blau, better known by his stage name 3LAU, has officially announced the launch of a blockchain-based music investment platform Royal. The announcement comes in conjunction with the platform raising $16 million in a seed funding round led by crypto-focused investment firm Paradigm and Peter Thiel’s Founders Fund, Forbes reported on Aug. 26. Founded by 3LAU and his college friend JD Ross, Royal is a new platform aiming to enable fractional music ownership through Royal’s own version of nonfungible tokens, or NFTs, referred to as limited digital assets. The venture intends to democratize access to music ownership to music lovers by not only allowing them to invest but also own rights to their favorite songs and albums through limited editions reco...
How to Pick the Best Crypto Exchange
With Bitcoin currently setting an all-time high record and turning simple Australian traders into multi-millionaires in the process, the timing to invest in the once dreaded cryptocurrency sector has never been this right. Nonetheless, the sector is still the most volatile asset base, and investors can lose millions of dollars in a matter of minutes. There are many things you need to know, among them how to choose a crypto exchange. Picking the wrong crypto exchange can easily lead you down a path full of wasted effort and distractions. Read on to learn how to choose the right crypto exchange. 1. Security Several cryptocurrency exchange platforms have come under severe cyber-attacks in the past and have lost millions worth of coins in the process. For instance, when looking at Austra...
11% of young Americans invested their stimulus cheques in crypto
Cryptocurrencies are starting to win over the hearts of some young Americans, displacing other investment products like mutual funds and ETFs A new survey conducted by financial media house CNBC has revealed that 11% of young Americans have chosen to invest their stimulus cheques in cryptocurrencies. These investors have chosen cryptocurrencies over the more traditional investment products like mutual funds and exchange-traded funds (ETFs). CNBC surveyed 5,530 adults and found out that about one in 10 people in the United States (11%) have invested in cryptocurrencies. Digging deeper, the survey revealed certain statistics that aren’t surprising considering the nature of the cryptocurrency market in these early days. The survey revealed that 16% of American men invested in cryptocurrencies...
Pyth Network and Chainlink price feeds join the Solana ecosystem
Both developments will give Solana’s DeFi ecosystem access to high-quality price data that updates at sub-second intervals Solana has been going from strength to strength lately, with its native SOL token soaring to a new all-time high above $83 last week. And it may not be done yet, with all the developments happening in the Solana ecosystem. The Solana-based market data provider Pyth Network is launching on the blockchain today. This will be beneficial to developers of decentralised finance (DeFi) applications, who will be able to integrate Pyth’s data feeds. Pyth streams high-fidelity data at sub-second intervals, covering markets including crypto, commodities, foreign exchange and US equities. Data is aggregated so the prices provided are not vulnerable to attacks on any single data so...
Bitcoin price analysis: BTC rejects $50k, could slip below $46k
Bitcoin has struggled over the past few days, with the broader cryptocurrency market currently in a sea of red trading charts The cryptocurrency market is currently correcting after experiencing a mini-rally last week and over the weekend. The prices of most cryptocurrencies are down by 3% or more in the past 24 hours. Bitcoin rejected the $50,000 mark after rallying to that level over the weekend. The leading cryptocurrency was unable to surpass that level or even maintain it for long, leading it to drop by over 5% in the last few days. Bitcoin is currently trading close to the $47,000 mark. However, it risks dropping towards the $45,000 region in the next few hours or days if the current market conditions persist. Market analysts term this as a correction and believe that Bitcoin could b...
Asset managers and companies accumulate 1.2M Bitcoin worth $57 billion
Around 6% of Bitcoin’s circulating supply has been accumulated by asset managers and companies, signaling ever increasing mainstream and institutional adoption of crypto assets. According to Buy Bitcoin Worldwide, 816,379 BTC worth $40.1 billion is currently held by 14 Bitcoin fund issuers and asset managers — representing 4% of the cryptocurrency’s supply. Industry leader, the Grayscale Bitcoin Trust, represents more than 3% of the Bitcoin supply, managing 654,600 BTC (worth $32 billion). CoinShares’ XBT Provider ranks second with 48,466 BTC ($2.4 billion) representing 0.23% of supply. The 12 remaining issuers represent 113,313 BTC or 0.54% of thesupply combined. The data provider also tracks 34 public companies that hold BTC on their balance sheets, which collectively command 1% of Bitco...
Crypto soars to account for 73% of trading commissions on eToro in Q2
Crypto grew to represent 73% of trading commissions on popular retail trading app eToro in the second quarter. eToro announced its Q2 results on Aug. 25, with the firm posting $362 million worth of total trading commissions and reporting its assets under administration had reached $9.4 billion. In an investor update released on the same day, the firm outlined that crypto-assets accounted for 73%, or $264.26 million of commissions, which marked a massive 2259% increase compared to the $11.2 million reported in Q2 2020. Overall trading volumes are up 125% on Q2 2020, with Yoni Assia, the CEO and co-founder of eToro noting in the announcement that the growth was “underpinned by long-term secular trends in investor behavior” and enabled by providing “simple access” to crypto via a user-friendl...
OnlyFans reverses decision to ban porn after assurances from ‘banking partners’
OnlyFans has made a sharp u-turn on its decision to ban sexually explicit content after it received a backlash from creators and some new assurances from at least one bank suffering bad PR. The platform became wildly popular by connecting online sex workers to subscribers, but this has not gone down well with a number of major banks. The firm was forced to change its policy on Aug. 19 to prohibit “sexually explicit conduct” following pressure from the Bank of New York Mellon, Metro Bank, and JPMorgan Chase, who refused to provide services to users of the platform. In a tweet on Aug. 25, OnlyFans stated that it has now reversed this decision and it “will continue to provide a home for all creators.” Thank you to everyone for making your voices heard. We have secured assurances necessa...
11% of young Americans have invested their stimulus checks into crypto: Survey
A new survey has found that more than one in ten American citizens aged between 18 to 34 have invested part of their Covid-19 stimulus checks into crypto assets. Conducted by CNBC and research firm Momentive, the survey queried 5,530 adults and found that 11% of survey participants had purchased cryptocurrency with their stimulus money. Roughly half of the respondents were found to have funneled their stimulus money into investments broadly — with 15% seeking exposure to stocks, 9% investing in mutual funds, and 6% backing exchange-traded funds (ETFs). The majority of young Americans appear bullish on cryptocurrency’s future prospects, with 60% of survey participants indicating they see digital assets as a long-term investment. By contrast, 21% described crypto as a short-term in...
Price analysis 8/25: BTC, ETH, ADA, BNB, XRP, DOGE, DOT, SOL, UNI, BCH
Bitcoin (BTC) remains on a strong footing after bears failed to capitalize on the rejection near the psychological mark at $50,000. The recent price rise in Bitcoin has not enticed longer-term investors to part with their holdings, and Glassnode data shows that the Bitcoin supply held by long-term holders has hit a new all-time high of 12.69 million BTC. This tops the previous record achieved in October 2020. MicroStrategy’s recent Form 8-K filing with the United States Securities and Exchange Commission shows that the company bolstered its Bitcoin holdings by 3,907 BTC between July 1 and Aug. 23. The company bought at an average price of $45,294. This brings MicroStrategy’s total holdings to 108,992 BTC, with an average price of $26,769. Daily cryptocurrency market perfor...
Cardano Foundation partners with Coinfirm for FATF and 6AMLD compliance
The nonprofit organization behind Cardano has partnered with blockchain analytics provider Coinfirm to ensure ADA is in compliance with the Financial Action Task Force’s guidelines. In an Aug. 24 announcement, the Cardano Foundation said it would be using Coinfirm’s services to provide Anti-Money Laundering, or AML, and Combating the Financing of Terrorism, or CFT, analytics for Cardano’s native cryptocurrency ADA. According to the foundation, the integration will allow the project to be “in full compliance” with the guidelines set forth by the Financial Action Task Force, the European Union’s Sixth Anti-Money Laundering Directive, or 6AMLD, and other regulations applicable to Cardano. “AML/CFT analytics is essential for a cryptocurrency to receive mass adoption within regulated markets,” ...
