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Aussie firm to launch $100M class action over dodgy QOIN token
The issuer of a controversial cryptocurrency that can only be sold in batches of $125 daily on a single exchange is facing pushback from an Australian law firm. Queensland-based law firm Salerno Law plans to file a lawsuit accusing BPS Financial Limited — the company behind the QOIN token — of engaging in misleading and deceptive conduct, pyramid selling of financial products, and failing to comply with financial services regulations. The lawsuit will seek $100 million in damages. Salerno Law, which specialises in crypto disputes, started collecting expressions of interest from investors and merchants who had incurred losses as a result of the seemingly arbitrary limits placed on QOIN sellers last week. QOIN tokens are issued on the company’s proprietary Qoin blockchain. As such, QOIN is n...
Ethereum sees first consecutive week of deflationary issuance
The Ethereum network has seen its first consecutive week of negative supply issuance as bubbling markets drive persistently high transaction fees. With the highly anticipated London upgrade introducing a burn mechanism into Ethereum’s fee market in early August, a small quantity of Ether has since been destroyed with every transaction executed on the network. With gas prices sustaining at high levels, Ethereum has seen seven consecutive days of deflationary issuance for the network, meaning that more ETH has been removed from supply than created through mining.In order for Ethereum to consistently produce deflationary blocks, gas prices must consistently remain roughly above 150 gwei. EthHub co-founder Anthony Sassano commented that deflationary Ethereum was not expected until “the m...
Argo Blockchain mines record 597 BTC during Q3 2021
Cryptocurrency mining firm Argo Blockchain has just released its Q3 financial report detailing record setting revenues for the period. The London headquartered company reported that it had mined 597 BTC and “BTC equivalents” during the third quarter of 2021. At current prices, Argo’s Bitcoin haul would be worth roughly $36.5 million. As of Sept. 30, the firm had amassed holdings of 1,836 BTC (roughly $113 million at current prices). Argo also reported a gross margin of 120% and a mining net margin of 85%, estimating it cost the firm just $6,293 to mine each Bitcoin on average. Overall, the firm generated a record revenue of $26 million and pocketed $17.3 million in net profits. For the nine months ending on Sept. 30, the firm’s revenue and net income were $67.9 million and $27.1 million re...
Avalanche creates $200 million fund to lure top crypto devs
The Avalanche Foundation has unveiled “Blizzard” — a fund offering more than $200 million in incentives to developers who build on the Avalanche (AVAX) network. The fund will provide liquidity to those early-stage projects that innovate decentralized finance (DeFi) applications, nonfungible tokens (NFTs), and other products on Avalanche. Avalanche is a Proof-of-Stake network that launched in September 2020. The network boasts Ethereum Virtual Machine (EVM)-compatibility, allowing developers to port decentralized applications over from Ethereum. The network now boasts more than 320 projects that are currently building on it, including top stablecoin issuer Tether, popular DEX SushiSwap, and oracle providers Chainlink and The Graph. Per a Nov. 1 announcement, Blizzard’s contributors include ...
Ed Sheeran Sprints to Lead on Midweek U.K. Albums Chart
Sheeran should keep his streak alive. His debut + (from 2011), x (2014), and ÷ (2017), all went to No. 1 in the U.K., as did his 2019 LP No. 6 Collaborations Project (2019). With = leading the chart update, and his track “Overpass Graffiti” ruling the singles chart blast, Sheeran is in pursuit of a rare chart double. In a midweek Top 10 stacked with new releases, former Verve frontman Richard Ashcroft bows at No. 2 with Acoustic Hymns – Vol. 1 (BMG), the 25th anniversary edition of Spice Girls’ Spice (UMC/Virgin) is at No. 3, and The War on Drugs’ I Don’t Live Here Anymore (Atlantic) begins at No. 5. All will be revealed late Friday. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you ba...
Biden and his allies look past China on climate
National Security Adviser Jake Sullivan told reporters on Air Force One en route to Glasgow that China was one of the “significant outliers … who will not be represented at the leader level at COP26 and who we do believe has an obligation to step up to greater ambition as we go forward. And we’ll keep pressing on that.” But he added: “There are other countries as well.” As Beijing brushed aside U.S. overtures, Biden instead turned to Indonesian President Joko Widodo for his first bilateral meeting at the COP26 United Nations talks. Also in Widodo’s diary was U.K. Prime Minister Boris Johnson. Indonesia contributes nowhere near the 27 percent of global emissions China’s economy spews out. But it is still responsible for 2 percent of global greenhouse gases, and is one of the wor...
Sorare CEO shares bold vision on NFTs during Web Summit 2021 opening night
Web Summit 2021, the biggest tech conference in the world, kicked off on Monday in Lisbon, Portugal, and will last until Nov. 4, 2021. In an opening statement, Carlos Moedas, the Mayor of Lisbon, said that “My dream is that Lisbon will be the capital of innovation in the world.” Meanwhile, João Leão, the Minister of Finance of Portugal, stated: “Portugal is the country people come to invest, to do business and to look live, and to do so in a manner that is open to different cultures.” Notable guest speakers included Facebook whistleblower Frances Haugen, Black Lives Matter co-founder Ayo Tometi, and Nicholas Julia, co-founder and CEO of French non-fungible token, or NFT, fantasy gaming company Sorare. NFTs are digital certificates of ownership representing artwork, ...
Upcoming parachain auctions send Polkadot to new ATH, while CHR and THETA follow
“Uptober” is over but as Zhu Su tweeted earlier today, the crypto market rally could extend through “Upvember, Upcember” and beyond. The month of October was stellar for Bitcoin (BTC) and Ether (ETH) primarily because each hit new all-time highs and even though the prices are consolidating now, traders are still wildly bullish. Uptober, Upvember, Upcember — Zhu Su (@zhusu) November 1, 2021 The steady emergence of the Metaverse is also driving excitment within the crypto sector as it promises to be one of the driving forces behind development in the cryptocurrency space. The concept of a Metaverse is also impacting the “real world”, a prime example being Facebook’s recent rebranding of to ‘Meta’. As the market heads into the month of November ...
The Recording Academy and OneOf announce Grammy Awards partnership
The Recording Academy and OneOf, a green nonfungible token (NFT) marketplace backed by legendary record producer Quincy Jones, have announced an exclusive partnership centered around the next three years of Grammy Awards in an unsigned statement on the Grammys website. Details on specific NFT collections will be released in January but will celebrate both the awards themselves and nominees and recipients. Some of the money from the sale of the assets will go toward funding the Recording Academy scholarship fund. OneOf, built on the Tezos blockchain, is specifically designed with musicians and listeners in mind. Panos Panay, co-president of the Recording Academy, said: “As an Academy, we are always looking for ways to help artists discover new forms of creative expression, while a...
NFL quarterback Aaron Rodgers will accept part of $22M salary in Bitcoin
Aaron Rodgers, quarterback for the Green Bay Packers football team, has said he will be taking part of his National Football League salary in Bitcoin. In a video posted to his Twitter account on Nov. 1, Rodgers — dressed as fictional character John Wick, likely for Halloween — said he would be partnering with Cash App to take a portion of his salary in Bitcoin (BTC). The NFL reported in July that Rodgers would be earning a $1.1-million base salary on top of a $14.5-million signing bonus and a $6.8 million roster bonus from March, totaling roughly $22.3 million. I believe in Bitcoin & the future is bright. That’s why I’m teaming up with Cash App to take a portion of my salary in bitcoin today. To make Bitcoin more accessible to my fans I’m giving out a total of $1M in btc now too....
Shiba Inu rallies by 11% in 24 hours. Will it target the all-time high again?
Shiba Inu has maintained its place as one of the top ten cryptocurrencies by market cap and could rally higher in the coming hours. The cryptocurrency market has started the new month in a positive fashion, with the prices of most coins rallying by more than 2% over the past 24 hours. Bitcoin is now trading above the $62k level after dropping towards the $60k mark over the weekend. The leading altcoins are also rallying, with Ether still maintaining its price above the $4,300 level. Solana is the best performer amongst the leading cryptocurrencies, rising by more than 11% over the past 24 hours. Shiba Inu is one of the best performing coins in recent weeks, with its surge in value making it one of the top coins in terms of market cap. SHIB has maintained its position as the ninth-largest c...
Tron rises by only 1.2%. Can it test the $0.11 resistance level soon?
The cryptocurrency market has continued its excellent performance, with many altcoins adding more than 2% to their values over the past day. October was an excellent month for the broader crypto market. The gains recorded in October were last seen in December 2020, with Bitcoin, Ethereum, Solana, and other leading cryptocurrencies hitting new all-time highs. November has also started positively, with Bitcoin topping the $62k level earlier today. Ether has also maintained its price above the $4,300 mark while other leading altcoins like Solana, Polkadot, Cardano, Shiba Inu and Dogecoin are all rallying. Tron (TRX) is also rallying but isn’t performing well like others. Over the past few hours, TRX has only added 1.2% to its value and could struggle to break to surge higher in the coming hou...
