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Velas increases blockchain grants program to $100M
Switzerland-based technology company Velas has allocated $100 million to startups building on top of the Velas blockchain, marking a sizable increase from its initial pledge of $5 million earlier this year. The grants program is designed to support the growth of the Velas ecosystem and expand its capabilities within Web 3.0, a broad umbrella term that describes the next stage in the internet’s evolution. Like the initial $5 million grants program announced in August, the new funding initiative will allocate up to $100,000 per project. While Velas intends to fund a wide range of projects, developers who are creating solutions for DeFi, decentralized exchanges, nonfungible tokens and gaming will be given priority. To apply for the grant, startups must include a business plan, pitch dec...
SEC approves Volt Equity ETF providing exposure to Bitcoin-centric companies
The United States Securities and Exchange Commission, or SEC, has approved the Volt Crypto Industry Revolution and Tech ETF, providing investors with easy access to companies with significant exposure to Bitcoin (BTC). The exchange-traded fund, which was approved on Tuesday, is intended to track so-called “Bitcoin Industry Revolution Companies,” which are defined as entities that hold a majority of their net assets in BTC or derive a majority of their earnings from Bitcoin mining, lending or transacting, according to an SEC filing. Eighty percent of the fund’s holdings will be allocated to such companies, the prospectus states. The new ETF will appear as a New York Stock Exchange Arca listing under the ticker symbol BTCR. U.S. securities regulators have been deliberating for years wh...
Tether fires back against report it is using reserves for investments and making crypto-backed loans
Tether (USDT), the largest stablecoin issuer by market capitalization, has refuted the details of a Bloomberg story on its reserves holdings. In a Thursday report, Bloomberg journalist Zeke Faux made numerous claims against Tether, including that its chief financial officer Giancarlo Devasini has used the company’s reserves to make investments, that seem to contradict Tether’s public position that the holdings were fully backed at all times. In addition, Faux alleges that Tether has invested in Chinese firms and issued crypto-backed loans “worth billions of dollars.” According to the report, he was only able to confirm one bank in the Bahamas was working directly with Tether. “Tether still hasn’t disclosed where it’s keeping its money,” said Faux. “If Devasini is taking enough risk to earn...
Inside Track: RCA’s Top Two Execs Move West
A source tells Billboard the shift is in large part “because the creative community is in Los Angeles, including artist managers.” RCA had no official comment. With RCA employees still working from home during the pandemic, a source says there is no word on if there will be more shifts from the East to West coast. Mark Pitts, who was upped to president earlier this year, is based in New York. The company announced a number of other changes today, naming Jamie Abzug senior vp/head of publicity. Based in Los Angeles, she replaces Mika El-Baz, who holds the dual title of executive vp West Coast/ executive vp, publicity. El Baz is leaving at the end of this month, as is senior vp publicity Sarah Weinstein Dennison, who is based in New York. Both El-Baz and Weinstein Dennison have been with the...
Cointelegraph Consulting: Terra’s bullish case after Columbus-5 upgrade
Terra’s (LUNA) three-month rally saw its token rise by 674%, catapulting LUNA to the ranks of potential so-called “Ethereum killers.” LUNA has been on a tear lately because Terra’s most recent upgrade, Columbus-5, has effectively overhauled its tokenomics and brought significant changes to its technology. LUNA currently sits in fourth place in total value locked (TVL) among other blockchains, indicating its growing popularity for decentralized finance (DeFi) applications and also underpins its long-term viability. Terra is a layer-one blockchain developed by South Korean startup firm Terraform Labs and was released in January 2018. It has a payments-focused ecosystem powered by algorithmic stablecoins and aims to be the infrastructure for all the apps being built by Terraform Labs and the ...
Bitcoin hints at $1T market cap retest after price hitting 4-month highs
Bitcoin (BTC) took a trip below $54,000 during Oct. 7 as traders waited to see how far a retracement of Wednesday’s $5,000 gains could go. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC flirts with $1-trillion asset support Data from Cointelegraph Markets Pro and TradingView showed BTC/USD looking decidedly less confident Thursday, down 3% while taking aim at $53,000 — and its $1-trillion market capitalization — before recovering. The pair had hit local highs of $55,800 — its best since before the May miner rout — but it did not take long for over-optimistic markets to show signs of fatigue. With volatility still in evidence, analysts were taking the opportunity to zoom out from spot price action once more. “Historically, BTC tends to enjoy an average positive monthly...
CME Bitcoin derivative traders had ‘paper hands’ as BTC broke $55K — Report
Bitcoin (BTC) derivatives traders on the Chicago Mercantile Exchange (CME) missed out on incredible profits as BTC’s spot price smashed through $55,000 this week. Retail investors reduced their long exposure across the Bitcoin futures and options markets in late September, according to data shared by Ecoinometrics. The amount of open short positions also climbed, indicating that derivative traders anticipated Bitcoin’s price to drop, as shown in the chart below. CME Bitcoin derivatives — retail traders. Source: CFTC “Commitments of Traders” report, Ecoinometrics The data was taken on Sept. 28, when BTC price had fallen below $41,000 on Coinbase — down almost 23% from its month-to-date high near $52,950. The drop surfaced in the aftermath of China’s decision to ban all kinds of crypto ...
Stockbroker platform Public.com adds crypto trading feature
Public.com, a neo-brokerage outfit based in New York has announced the launch of crypto trading services for its customers. In a statement issued on Thursday, Public revealed that users will be able to trade and store cryptocurrencies on the same app used for managing their stock portfolios. According to the announcement, the new crypto trading feature will be made available to users gradually over the next few weeks. As part of the crypto trading service, Public is offering support for Bitcoin (BTC), Ether (ETH), and Dogecoin (DOGE). Other cryptocurrencies offered include Cardano (ADA), Litecoin (LTC), and Bitcoin Cash (BCH). Stellar (XLM), Zcash (ZEC), Ethereum Classic (ETC), and Dash (DASH) complete the list of 10 cryptos to be offered by Public. Public’s crypto trading feature is offer...
Riot Blockchain is hoarding $194 million worth of Bitcoin
The company is accumulating newly-mined Bitcoin instead of choosing to sell it Nasdaq-listed Bitcoin mining enterprise Riot Blockchain announced via a press release that it currently owns 3,534 bitcoins, worth about $195 million. The company revealed that it produced a majority of the Bitcoins issued this year with a total of 2,457 BTC (worth over $135 million) mined this year up to and during September. Riot’s move to hold rather than sell Bitcoin has strengthened the argument that mining companies are seeking to accumulate the world’s number one cryptocurrency in large numbers. Riot has tripled its year-to-date Bitcoin production from 2020, marking a 246% increase in mining in 2021. It generated 406 bitcoins in September 2021, more than four times the 91 bitcoins that the company ...
Joss Favela Inks Worldwide Co-Publishing Deal With Warner Chappell Music
The 30-year-old Regional Mexican star, who has penned over 100 songs for artists such as Alejandro Fernandez, Banda MS, and Natti Natasha, made history at the 2016 Premio ASCAP as the youngest person ever to win songwriter of the year. He nabbed the title in 2017 and 2018. On the Billboard charts, Favela has entered Hot Latin Songs, Latin Airplay, Top Latin Albums, Regional Mexican Albums, and Regional Mexican Airplay, where he has five top 10’s. “When my love for music started I never thought that I’d get to spend my life writing songs,” he said. “I’m continuously surprised by the beautiful things that happen to me, and joining the Warner Chappell family is one of them. I’m grateful for the songs that life has given me, but I’m even more grateful for the ones ...
Kobalt Music Names Jeannette Perez as President and COO
Based in Los Angeles, Perez joined the company from Sony Music in February 2014, where she served as VP, music for brands & advertising/licensing and, before that, as senior director, soundtracks, film & TV music at RCA. “Over the past couple of years,” comments Hubert, “Jeannette has played a key part in Kobalt’s success. From creating one of the best synch teams in the business to advancing key DEI initiatives at Kobalt, she is an integral part of the company. I am excited to work in close partnership with her and to achieve new milestones for our clients.” Perez has racked up awards during her time with Kobalt, including recognition in Billboard’s Women in Music (2020, 2019), Billboard Branding Power Player (2019, 2018), Billboard International Power Play...
Bitcoin’s market cap tops $1 trillion again as BTC aims for $55k
The cryptocurrency market has continued its excellent start to the fourth quarter of the year, with the total market cap now closing in on $2.3 trillion The cryptocurrency market has been performing well since the start of the month, with the prices of most coins up by double-digit percentages in the past week. Bitcoin has remained one of the top performers in the market, and yesterday, it hit another milestone. The leading cryptocurrency’s total market cap hit the $1 trillion mark for the first time in months. Bitcoin’s total market cap touched the $1 trillion level after the cryptocurrency’s price rallied by more than 5% within an hour yesterday. The rally allowed Bitcoin to establish strong support at $50,000 and rally past the $53,000 mark within an hour. At the...
