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Here’s how Bitcoin options traders might prepare for a BTC ETF approval
Very few events can shake the cryptocurrency markets in a sustainable manner that really sends Bitcoin and altcoin prices into a sharp directional move. One example is when Xi Jinping, China’s President, called for the development of blockchain technology throughout the country in October 2019. The unexpected news caused a 42% pump in Bitcoin (BTC), but the movement completely faded away as investors realized China was not altering its negative stance on cryptocurrencies. As a result, only a handful of tokens focused on China’s FinTech industry, blockchain tracing, and industry automation saw their prices consolidate at higher levels. Some ‘crypto news’ and regulatory development have a lasting impact on investors’ perceptions and willingness to interact...
Interior denies request for new Alaska refuge survey
“Activities will support a phased, multi-year seismic acquisition program targeted to begin in 2022,” AIDEA announced in the press release. But that process is now on hold until the new environmental impact statement is completed. In the June 1 secretarial order suspending the leases, DOI said the supplemental EIS was necessary because of “multiple legal deficiencies” in the original review. It also stated that any activity related to the oil and gas leasing program, including exploration work, would be paused and that any future or pending applications would not be processed. The new review could take a year or longer, dealing a significant setback to the state’s effort to initiate oil and gas development in the coastal plain. Progressive Democrats in Congress are also aiming to reverse t...
Watch Offset Ring New York Stock Exchange Opening Bell to Celebrate Reservoir Media IPO
“This morning, Reservoir rang the @Nasdaq Opening Bell in celebration of our recent IPO. It is both exciting and humbling to take this next step in Reservoir’s journey,” the company wrote on Twitter while sharing photos from the ceremony. “We look forward to all the opportunities this creates, as we deepen our commitment to #investinginentertainment. Reservoir Media signed Offset and Takeoff to global publishing deals back in 2017, which represent their individual and collective catalogs. Reservoir Media’s EVP of A&R and Catalog Development Faith Newman was responsible for bringing the rappers to the roster. The company experienced its first day of trading on the Nasdaq stock exchange on July 29, when its shares took a 4.9% dip after opening...
Leading DeFi projects launch $100M global adoption initiative
A consortium of leading decentralized finance (DeFi) protocols today announced a collaborative $100 million financial inclusion venture titled “DeFi for the People.” The DeFi applications involved in the project — AAVE, SushiSwap, Curve, 0x and PoolTogether, amongst others — will together provide up to $100 million in educational initiatives, grants, and incentives in an effort to educate individuals globally about decentralized finance. The initiative — built on the Celo ecosystem — identified the lack of inclusivity and accessibility in the traditional financial markets, and in turn, aims to utilize the decentralized nature of crypto and blockchain to provide finance to the world’s 6 billion mobile phone users. Celo is an open-source blockchain ecosystem consisting of individuals and org...
Corporate brands target NFTs and adoption continues to skyrocket
The nonfungible token (NFT) space is arguably one of the most popular aspects of crypto and blockchain technology. Indeed, NFTs are often the topic of conversation, garnering significant interest both from inside and outside the industry. Such is the growing appeal of NFTs outside the crypto space that major brands like Visa and Budweiser are now acquiring popular items from popular collections. These moves are different from the usual corporate interactions with nonfungible tokens that often involve creating their own digital goods. As is often the case with crypto and blockchain matters, significant adoption from major legacy players triggers a FOMO-driven frenzy. Several NFT collections have seen massive price floor raises as other collectors hop into the trend. Beyond the current hype,...
Billionaire investor John Paulson says crypto has ‘no intrinsic value’
Speaking in a recent interview, subprime short investor and billionaire portfolio manager John Paulson criticized the volatile nature of digital assets, while advocating for investments in traditional safe-havens such as gold. The co-founder of Paulson & Co, a New York-based firm launched in 1994, Paulson was a historic beneficiary from the U.S. housing financial market collapse of 2008 after placing a legendary successful short position. However, Paulson recently took the decision to devolve his hedge fund into a family office after a 76.5% reduction in assets under management value from a peak of $38 billion in 2011 to $9 billion in 2019. In the interview, Paulson was asked his views on the emerging cryptocurrency market, to which he claimed that the assets have a “limited suppl...
Recommending regulations: Crypto working groups make push for adoption
Although the cryptocurrency sector may still be considered the “Wild West” by some governments and regulators, continued adoption and emerging use cases show that digital currencies are here to stay. Some even argue that blockchain-based networks and decentralized finance, or DeFi, platforms may soon replace traditional financial systems. Yet despite ongoing progress, the crypto industry is still young and, therefore, requires further development before it can be widely accepted. One area in particular that needs deeper addressing within the crypto space is regulation. Mohamed El-Erian, chief economic advisor at Allianz — a German multinational financial services company — stated in a Financial Times article that it’s the duty of crypto proponents to cultivate better relationships wit...
Ed Sheeran’s ‘Bad Habits’ Racing to 10th Week Atop U.K. Chart
“Bad Habits,” lifted from Sheeran’s forthcoming LP = (equals), is his second-longest reigning single in the U.K. behind only “Shape of You,” which ruled the U.K. chart for 14 weeks back in 2017. Meanwhile, Joel Corry and Jax Jones’ club tune “Out Out,” with assists from Charli XCX and Saweetie, lifts 10-5 on the Official Chart: First Look, which ranks singles based on streaming and sales activity in the first 48 hours of the chart week. Also, Tones And I’s “Fly Away” looks set for its first stint in the Top 10, lifting 13-9 on the chart blast, while “Butter” by BTS could return to the weekly survey following the release of a version featuring Megan Thee Stallion. It’s at No. 14 on the early tally. The Official U.K. Singles Chart is published late Friday, local time. You Deserve to Make Mon...
OpenSea’s team of 37 staff are currently handling 98% of combined NFT volumes
OpenSea’s Head of Product Nate Chastain posted a plea for help, revealing the popular marketplace currently comprises just 37 people despite currently processing 98% of all NFT volumes. The world’s largest nonfungible token marketplace, OpenSea, is desperately in need of staff as NFT mania continues to ramp up. We need to ramp up hiring at OpenSea. We are 37 people handling 98% of all NFT volume. Referral bonus: Will pay 1 ETH to anyone who connects us to engineers or designers that we hire. Resumes to opensearoles@gmail.com. Candidates: Use https://t.co/adazqldv91 directly. — Nate Chastain (natec.eth) (@natechastain) August 29, 2021 Chastain added that referral bonuses are also available, stating: “Will pay 1 ETH to anyone who connects us to engineers or designers that we hire.” The compa...
SOL burn? Solana price hits $100 for the first time after mysterious ‘Ignition’ event revealed
Solana (SOL) prices rose on Aug. 30 as traders speculated on what appeared to be a key but mysterious feature launch later this week. The SOL/USD exchange rate climbed to a new record high of $103.06 following a 9.35% intraday rally. The upside move surfaced days after Solana introduced “Ignition” on their official media handles. However, the team provided little details about the tool but prompted the community to guess that it would be about burning SOL tokens. The speculation surfaced majorly because of Solana’s Ignition teaser video, which featured a purple flamed lighter. burn… — #A_freak_show_to_freaks (@JustDafong) August 27, 2021 Ignition might not be a SOL token burning event As a public blockchain, Solana relies on SOL to aid two primary tasks: Staking and...
Bilaxy exchange suspends website after ERC-20 hot wallet hack
Bilaxy, a lesser-known cryptocurrency exchange, has confirmed a major hacking incident, reporting losses of funds due to an exploit of the platform’s ERC-20 hot wallet. Bilaxy announced on its Telegram channel that the crypto exchange suffered a “serious hack” on Aug. 28 between 6 p.m. and 7 p.m. UTC, resulting in the transfer of 295 different ERC-20 tokens. According to the exchange, the affected tokens were transferred by the hacker to a single address. At the time of writing, the tokens are valued at $170,600, with the most recent transaction sending out 50 Ether (ETH), or about $159,000, on Aug. 30. Shortly after detecting abnormal hot wallet transactions, Bilaxy suspended its website to take emergency measures and move “hundreds of tokens” from its hot wallet to cold wallets in order ...
Russian man gets three-year sentence for stealing a friend’s mining rig
Authorities from Russia’s Zavolzhsky district have found a 34-year-old local man guilty of stealing cryptocurrency mining equipment worth more than 1.6 million rubles (nearly $22,000). According to the report shared by the Prosecutor’s Office of the Yaroslavl Region, the state prosecutor confirmed that the Yaroslavl resident was found entering a friend’s garage unlawfully back in Feb. 2021 and stealing their mining equipment that was intended to be used for earning cryptocurrency. The authorities found the Russian man to be guilty of committing a crime, citing large-scale theft of property and illegal entry. In court, the convict reportedly admitted to the charges and voluntarily returned the stolen crypto mining equipment back to its original owner. Additionally, he also admitted to...
