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Bitcoin ‘sell the rally’ indicator flashes again as BTC price breaks below $45K
A Bitcoin (BTC) on-chain indicator that spotted dead cat bounces during the yesteryear bearish market corrections has flashed again in August 2021. Dubbed “Bitcoin: Short Term Holder NUPL,” the indicator takes into account the unspent transaction output, or UTXO, of BTC transactions not more than 155 days old. In doing so, it attempts to determine whether an investor is profitable within 155 days of purchasing and holding Bitcoin. Therefore, if the NUPL, which stands for “net unrealized profit/loss,” returns a reading below zero, it means investors are making a loss on their Bitcoin investments. Conversely, a NUPL above zero shows that investors are making a profit. Glassnode reported Aug. 12 that the Bitcoin NUPL for short-term investors recovered back above z...
DAO Maker crowdfunding platform loses $7M in latest DeFi exploit
Hackers have stolen funds out of more than 5,000 user accounts with crowdfunding platform DAO Maker, a site aimed at raising money for crypto projects. According to a report from DAO Maker CEO Christoph Zaknun, hackers were able to remove roughly $7 million in USD Coin (USDC) from 5,251 user accounts at approximately 1:00 am UTC today. The platform said the attacker used a smart contract exploit to initially steal 10,000 USDC, then made 15 more transactions to acquire additional funds. “One of the reasons why this did happen is probably that the amount of deposits within the [Strong Holder Offering] contract really exceeded our expectations,” said Zaknun in an AMA on Twitch. “Initially, we never expected more than $2.5 million to be deposited in there, but over time,...
What the SEC can learn from the German regulator
The United States Securities and Exchange Commission’s chairperson Gary Genslerannounced this month that the crypto industry should not escape the purview of the regulator. He highlighted that decentralized finance (DeFi) trading and lending protocols need particular attention when it comes to investor protections. Regulation can extend into a menu of options that covers custody, reporting, counterparty verification and asset classification and issuance. Reports are surfacing that people are waiting with bated breath on how the SEC will regulate the DeFi industry, but Germany’s Federal Financial Supervisory Authority, also known as BaFin, has found a way to apply existing securities law to the crypto sector. Related: FATF draft guidance targets DeFi with compliance Decentralized does...
Crypto is no longer in the early adoption stage, Bittrex Global CEO says
The crypto industry began with Bitcoin’s launch in 2009, flowering into a bustling industry filled with many different assets and blockchain-based solutions in the years following. The sector, however, is no longer in its infancy, according to Bittrex Global CEO Stephen Stonberg. “I think we’re already past the stage of crypto early adoption,” Stonberg told Cointelegraph, adding: “Crypto has now gone mainstream. We have double digit percentage adoption in both developed and developing countries. We even have Bitcoin adopted as legal tender in a country and many other countries considering adopting Bitcoin as legal tender.” El Salvador’s government gave Bitcoin (BTC) the official nod in June 2021, making the asset legal tender across the country. The BTC green light in El Salvador means bus...
Publishing Briefs: Marty Stuart Signs to Sheltered Music; Round Hill an Owner of a ‘Lonely Heart’ Stake
Round Hill Music has acquired an interest in Trevor Rabin‘s publishing catalog, according to a statement from the Board of Round Hill Music Royalty Fund Limited. The former guitarist turned film composer’s lengthy catalog contains over 3,500 film cues and songs as well as cuts from his tenure as a member of prog rockers Yes, most notably “Owner of a Lonely Heart,” the band’s lone Hot 100 No. 1. Over the course of his storied career Rabin has earned an induction into Rock n Roll Hall of Fame and 11 BMI awards for his work, which includes the scores of National Treasure, Remember The Titans, Armageddon, Enemy of the State, Bad Boys II, Glory Road, and more. Rabin notes his decision to partner with Round Hill Music stemmed from the company’s history of...
Univision Ad Revenue Jumps 72 Percent
Quarterly ad revenue jumped 72 percent from the coronavirus pandemic-hit year-ago period to $407.2 million and “surpassed the second quarter of 2019,” when it had recorded $405.1 million, the company said. Core ad revenue, which is adjusted for political and advocacy ads, rose 70 percent. Media networks unit ad revenue increased 66 percent, or 63 percent when looking at core results. “The increase in media networks core advertising revenue was due to higher ad revenue driven by new brand activations, strong scatter volume and pricing, growth in previously low volume accounts, two major soccer tournaments, and improvements in the auto, retail, and beverage sectors, which are recovering from the negative impacts of COVID-19,” the company said. Said Davis: “This quarter marks another period o...
U.S. jobless claims near pandemic low as economy strengthens
Those complications help explain why the pace of applications remains comparatively high. Before the pandemic paralyzed the economy in March 2020, unemployment applications were running at about 220,000 a week. Many states, for example, require self-employed and gig workers to first seek conventional unemployment benefits — and be turned down — before they can apply through a program that was set up last year to provide jobless aid to them for the first time. That program, and a $300-a-week federal supplemental unemployment benefit, will expire nationwide in the first week of September. About 22 states, mostly led by Republican governors, have already canceled both programs. A total of about 12 million people are receiving unemployment benefits, down sharply from the previous week’s ...
IOTA pulls back after rising by over 20% in a week
IOTA has enjoyed a stellar week, but the cryptocurrency is now consolidating alongside the broader crypto market The general cryptocurrency market has enjoyed a stellar week so far, with prices of most cryptos up by 10% or more. IOTA is one of the top performers, rising by 20% over the past seven days. However, after a rally comes a consolidation period and the prices of most cryptos are currently in the red zone. Bitcoin has dropped towards the $45,000 mark after crossing $46,000 yesterday, while Ether dropped below $3,200. IOTA reached a weekly high of $1.121 yesterday but has pulled back and is now trading just below $1.040 per coin. While the market might be consolidating at the moment, the general outlook remains positive, and analysts and market experts are confident of the medium an...
Alex Saunders sued for $350K by Nuggets News follower
Australian crypto influencer Alex Saunders is being sued by a disgruntled follower of his YouTube channel and advice service Nuggets News. The plaintiff, New Zealand-based Ziv Himmelfarb, filed a formal written order on Aug. 11 in the Victorian Supreme Court demanding that Saunders repay 479,270 Australian dollars ($353,027) in losses and damages for unpaid loans and investments that are yet to materialize. Speaking to the Australian Financial Review on Aug. 12, Himmelfarb said that he had followed Saunders’ crypto commentary since 2017, stating, “He made some great calls and to me he was the No. 1 person to follow in the crypto space.” “It was a no-brainer for me to trust him.” Himmelfarb claimed to have first invested four Bitcoin (BTC) on Feb.17 with Saunders after the influencer offere...
Ethereum network congestion temporarily shuts down crypto gaming casino
Congestion on the Ethereum network has forced an online casino to temporarily close shop. The development came into light after KingTiger Casino’s official website announced the company’s temporary closure of services. According to KingTiger’s statement: “We have had to temporarily close our casinos due to the Ethereum network congestion, making it impossible to run our games in their current format.” The crypto-centric online casino is currently on the lookout for new solutions that can host “a new range of features and games” for its participants. Although the casino services have been temporarily suspended, the platform is allowing users to access their digital wallets. The parent company, Funfair Technologies, still allows users to create new wallet accounts, and KingTiger maintains th...
Crypto and blockchain investments have already doubled 2020’s: KPMG report
Crypto and blockchain investments continue to grow thanks to ever-rising investor interest, according to a new report from Big Four accounting firm KPMG. Titled “Pulse of Fintech H1 2021,” the study covers global investment activities in different financial technology verticals for the first half of the year. It details 2,456 investment deals worth $98 billion made between January and June. One of the top fintech trends for 2021 is the explosive growth in the crypto and blockchain investments, the report reads. The first six months of 2021 saw 548 investments activities, including venture capitals, private equities, and mergers and acquisitions in the blockchain and cryptocurrency sectors. The total value of investments during the first half of the year is $8.7 billion, already d...
Soccer star Messi’s latest contract reportedly includes crypto fan tokens
Argentine soccer superstar Lionel Messi, regarded as one of the game’s greatest players of all time, has reportedly made crypto fan tokens a part of the payment deal in his financial package with French club Paris Saint-Germain. The information comes from sources close to the matter, according to Reuters. Messi, 34, who had been at FC Barcelona since he was 13, this week signed a two-year contract with Paris Saint-Germain (PSG), with an option to extend for a third year. His departure from Barcelona, with which he won four Champions League titles, was sealed after Spanish La Liga’s financial fair play rules made it fiscally unviable for the club to continue to afford the star player. Messi has won the European Golden Shoe award for top scorer and FIFA’s player of the year award s...
