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BITH11, a new exchange-traded fund (ETF) launched in Brazil by crypto-focused alternative investment firm Hashdex Asset Management, claims to be the country’s first “green” Bitcoin ETF. The fund plans to neutralize its associated carbon emissions through purchasing carbon credits. To meet the ETF’s objectives, Hashdex has partnered with Germany’s Crypto Carbon Ratings Institute (CCRI) — which will produce annual reports estimating the energy consumption and carbon emissions underpinning the creation of BTC acquired by the fund. The ETF is currently aiming to invest 0.15% of its liquid assets into carbon credits and eco-friendly technologies every year. The fund was launched on the B3 Brazilian Stock Exchange late last week under the ticker BITH11. According to a rough translation, Rogerio ...

The provisions aim to raise $28 billion for infrastructure funding through expanded digital asset taxation, and will impose broad third-party reporting requirements on any crypto firm deemed to comprise a “broker.” On August 9, general counsel to Compound Finance, Jake Chervinsky, tweeted that the Senate had voted 68 in favor to 29 against ending debate surrounding the provisions, halting discussions until Tuesday’s final vote. However, Chervinsky emphasized that the Senate could still pass an amendment to the bill by unanimous consent before the final vote. Senate talks over the controversial cryptocurrency tax provisions to the U.S. infrastructure bill have stalled, with an unamended version of the bill set to be put to a vote on Tuesday. Sunday night infrastructure bill update: The Sena...

Gold prices have tanked during the Monday morning Asian trading session, compounding losses accumulated over the past week. On August 9, the price of gold quickly fell to its lowest level since March as a flash crash drove prices below $1,700/oz. According to Tradingview, the price of the precious yellow metal plunged to $1,690/oz during Asian trading hours on Monday. The price of gold has since posted a minor recovery, last changing hands for $1,742/oz at the time of writing. Gold is currently down by 4% over the past 7 week and 8.7% since trading above $1,900/oz at the end of May. The precious metal has retreated 8% for 2021 so far, and it is currently down 14.6% from its August 2020 all-time high of just below $2,040. How the hell was I asleep for this flash crash in Gold pic.twitter.co...

Hybrid crypto-fiat platform Alchemy Pay announced Monday that the company will be launching virtual crypto-linked cards accepting more than 40 cryptocurrencies like Bitcoin (BTC). The new cards can be linked to Google Pay and PayPal digital wallets, and make payments across the Mastercard and Visa networks, as well as popular e-commerce platforms like Amazon and eBay. According to the announcement, Alchemy Pay has already completed the product’s development and launched beta testing in multiple key markets. The firm expects to proceed with a full roll-out of the new product at the end of 2021 or early 2022. The new initiative is launched in response to growing demand for crypto-linked card transactions, allowing crypto businesses to offer a full range of services as well as to help traditi...

Bitcoin’s (BTC) rally above $45,000 suggests that the short-term sentiment has turned positive and this has increased buying interest across the board and pushed the total crypto market capitalization above $1.8 trillion. Driven by the tailwind of the London hard fork, Ether (ETH) broke above the $3,000 mark on Aug. 7. While the rally in the biggest altcoin is a positive sign, on-chain data shows the possibility of profit-booking in the short term. Glassnode’s “Ethereum: Percent of Addresses in Profits” indicator has risen above 96.4%, which is the “red zone, historically associated with local tops,” according to Lex Moskovski, the chief investment officer at Moskovski Capital. Crypto market data daily view. Source: Coin360 While the near-term price action may remain vola...

“You will own nothing and you will be happy,” — this sentiment was at the core of a declaration issued more than 30 years ago in 2016 by the leaders of the World Economic Forum. It sounded dystopian, like something taken from a book by Aldous Huxley or George Orwell. It was probably among the most insidious ideas I’d ever heard. Somehow, I remembered that idea today in 2050 when selling my racing drone. I guess I was reminded of the merits of true, private ownership. It was a beautiful two-seater, capable of going from 0 to 100 km/h in two seconds — which wasn’t that bad for an electric vehicle, especially considering it was built in the previous decade. It took about an hour to find a buyer on a surprisingly niche marketplace that’s built on top of Efinity, a blockchain ...

Despite the recent slight recovery of the cryptocurrency market, there is no denying the fact that the crypto industry has been faced with a great deal of volatility over the last few months, made evident by the total market capitalization of the sector that dipped from $2.5 trillion to $1.18 trillion over a 45-day span earlier this year. Through all these ups and downs, however, 2021 has continued to see an increasing amount of capital enter this fast-evolving space. For example, reports indicate that over the first half of the year alone, venture capital (VC) funds poured in $17 billion into various crypto-related startups and companies. To put things into perspective, the above-stated figure is by far the most witnessed in any single year and is nearly equal to the total amount raised i...