crypto blog
Algorand becomes first US blockchain sponsor of FIFA World Cup
Blockchain network Algorand (ALGO) has partnered with FIFA inking a sponsorship and technical partner deal as the network becomes the soccer association’s first official blockchain platform. The deal announced on Monday, May 2 will also see Algorand become a regional supporter in North America and Europe for the 2022 FIFA World Cup to be held in Qatar in November and December. BREAKING: @FIFAcom has announced #Algorand will become the official blockchain of FIFA, empowering the global football community with cutting-edge, sustainable technology. Read more https://t.co/LTTUqGNLNA @FIFAWorldCup #FIFAWorldCup pic.twitter.com/LuEFTY3WK6 — Algorand (@Algorand) May 2, 2022 Algorand will also be an official sponsor of the FIFA Women’s World Cup in Australia and New Zealand in 2023. The proof-of-s...
Argentina’s largest two banks to allow crypto trading
Argentina’s largest and second-largest private banks, Banco Galicia and Brubank, have announced that they will allow customers to make crypto purchases. Bloomberg reported on May 2 that a resounding 60% of respondents to an Argentinian poll asked for more access to crypto, which catalyzed the banks’ decisions to begin allowing crypto trading. Affiliate at market research firm Americas Market Intelligence, Ignacio Carballo, tweeted confirmation on May 3 with screenshots of Banco Galicia’s online interface that it had begun supporting Bitcoin (BTC), Ether (ETH), USD Coin (USDC), and Ripple (XRP) purchases. .#IMPORTANTE: El Banco Galicia incorpora función de comprar #criptomonedas! Se transforma así en el PRIMER BANCO DE ARGENTINA en ofrecer el servicio #critpo. Impresionante paso de la Banca...
Hawaii Senate committees favor task force to regulate crypto, blockchain
Two committees of the Hawaii State Legislature — Commerce and Consumer Protection (CPN) and Ways and Means (WAM) — unanimously approved the launch of a specialized task force to explore the use and regulation of the crypto ecosystem. In a letter addressed to the President of the Hawaii Senate, Ron Kouchi, legislative members Donovan Dela Cruz and Roz Baker wrote in support of creating a “Blockchain and Cryptocurrency Task Force” that was first proposed in bill SB2695. SB2695, titled “A BILL FOR AN ACT RELATING TO CRYPTOCURRENCY,” sought to establish a task force within the Department of Budget and Finance to review and compile country-wide data on crypto and blockchain. The task force would submit findings and potential legislation back to the State Capitol — which involves providing a pla...
Law Decoded: The difference between New York City and New York State, April 25-May 2
Last week, New York dominated crypto media headlines in very different ways. In New York State, the local Assembly voted in favor of the bill that would ban for two years any new mining operations that rely on proof-of-work (PoW) consensus mechanisms and use fossil fuel-generated energy. A temporary moratorium, which could be extended after the state’s Department of Environmental Conservation provides its assessments of the industry’s carbon footprint, marks the first major legislative attack on PoW mining on environmental grounds in the United States. The push mobilized the community — after digital asset advocacy groups rang the alarm on Twitter. Then, proponents of the ban had to endure three hours of a heated debate to narrowly pass the draft. There’s hope for an even tighter fig...
Fed FOMC comments and Bitcoin ‘bear channel’ could kickstart a decline to $28K
The start of May has seen a continuation of the weakness in crypto and equities markets and at the moment, there is no indication of any short-term factors that could reverse the bearish trend. Equities markets are also in a downtrend and according to researcher Clara Medalie, the price of stocks from companies with exposure to Bitcoin (BTC) have also taken a notable hit. Bitcoin vs. BTC exposed companies. Source: Twitter Medalie said: “Block, Tesla, Microstrategy and Coinbase are down between 20%–50%.” Data from Cointelegraph Markets Pro and TradingView shows that an early morning attempt by Bitcoin (BTC) bulls to rally above $39,000 was easily defended by bears, resulting in a pullback to the $38,200 level. BTC/USDT 1-day chart. Source: TradingView Here’s a look at what several analysts ...
Afraid to buy the dip? Bitcoin options provide a safer way to ‘go long’ from $38K
The last time Bitcoin (BTC) traded above $50,000 was Dec. 27, 2021. Since then, four months have passed, but traders seem somewhat optimistic that inflation has hit the necessary threshold to trigger cryptocurrency adoption. In theory, the 8.5% inflation in the United States means that every five years, the prices increase by 50%. This essentially turns $100 into $66 by slashing 33% of the dollar’s purchasing power. The U.S. Federal Reserve FOMC meeting is expected to rule on the interest rates on May 4, but more importantly, the FED is expected to announce a program to offload part of its $9 trillion balance sheet. Thus, instead of supporting debt and mortgage markets, the U.S. Central Bank will likely sell $95 billion worth of these assets every month. The consequences could be severe an...
Dfinity Foundation files lawsuit against Meta over infinity logo
Lawyers for Dfinity Foundation, a Switzerland-based nonprofit behind the Internet Computer blockchain, have filed a lawsuit against Facebook’s parent company Meta for trademark infringement over its infinity logo. In a Friday court filing with the United States District Court for the Northern District of California, Dfinity’s legal team claimed Meta Platforms was registering use of its logo, which also uses the mathematical symbol for the concept of infinity, “in some of the same or similar areas in which Dfinity has already obtained registration for its mark.” According to the blockchain firm, Meta filed an application with the U.S. Patent and Trademark Office, or USPTO, in March 2022, while the same office granted Dfinity registration in October 2018. Dfinity’s legal team also said the c...
Has New York State gone astray in its pursuit of crypto fraud?
The Empire State made two appearances on the regulatory stage last week, and neither was entirely reassuring. On April 25, bill S8839 was proposed in the New York State (NYS) Senate that would criminalize “rug pulls” and other crypto frauds, while two days later, the state’s Assembly passed a ban on non-green Bitcoin (BTC) mining. The first event was met with some ire from industry representatives, while the second drew negative reviews, too. However, this may have been more of a reflex response given that the “ban” was temporary and principally aimed at energy providers. The fraud bill, sponsored by State Senator Kevin Thomas, looked to steer a middle course between protecting the public from scam artists while encouraging continued innovation in the crypto and blockchain sector. It...
GameFi is showing signs of a mature landscape: Report
Blockchain games are set to overtake decentralized finance (DeFi) as the number one contributor to decentralized application (DApp) activity in terms of uniquely active wallets. A new 18-page report by DappRadar surveys the nascent ecosystem behind this rise. Although still dwarfed by the traditional gaming industry, blockchain games, sometimes dubbed GameFi, have seen an early spurt of exponential growth, according to the report’s data. “The evolution of blockchain games” report, which discusses play-to-earn (P2E) as a new paradigm for gaming, is available on the Cointelegraph Report Terminal to purchase. It details how the play-to-earn model gained traction in the COVID-19 pandemic when players from emerging economies were seeking new sources of income. In Q2 of 2021, which was not...
Ethereum risks 35% drop by June with ETH price confirming ‘ascending triangle’ fakeout
Ethereum’s native token Ether (ETH) faces the possibility of a 35% price correction in Q2 as it comes closer to breaking below its “ascending triangle” pattern. ETH price breakdown ahead? Ether’s price swung between profits and losses on May 2 while trading around $2,825, showing indecisiveness among traders about their next bias. Interestingly, the Ethereum token wobbled in the proximity of a rising trendline that constitutes an ascending triangle pattern in conjugation with a horizontal line resistance. To recap, ascending triangles are typically continuation patterns. That being said, Ether’s price was trending lower before forming its ascending triangle, raising its chances of a breakdown in the next few weeks. Another bearish sign comes from Ether&#...
EU commissioner calls for global coordination on crypto regulation
Mairead McGuinness, the commissioner for financial services, financial stability and capital markets union at the European Commission, is calling for global regulators to work together to address potential risks in the crypto market. In a Sunday opinion piece in political media outlet The Hill, McGuinness said the European Union and the United States could help lead the world in a regulatory approach for cryptocurrencies that considers the benefits of the innovative technology while addressing “significant risks.” The EU commissioner pointed to the volatility of certain assets, the risk of insider trading, the possibility of crypto being used by Russia to evade sanctions and environmental concerns. “To make rules on crypto fully effective, crypto requires global coordination and joint inte...
May’s top lineup of metaverse tokens you shouldn’t miss
The metaverse and non-fungible token (NFT) sphere of the crypto space boomed in popularity as Yuga Labs, the team behind the Bored Apes Yacht Club, sold 55,000 NFTs and made $561 million through the primary mint and the secondary sales. This has led to a lot of hype and interest surrounding metaverse tokens. As such, today, we are going to go over why these metaverse tokens are worth buying on May 2: ApeCoin (APE), Render Token (RNDR), Illuvium (ILV), and Radio Caca (RACA). Should you buy ApeCoin (APE)? On May 2, 2022, ApeCoin (APE) had a value of $16.19. When we go over the APE performance from last month, On April 7, 2022, APE had its lowest point of value at $10.65. The token’s all-time high was on April 28, with a value of $26.70. This marked an increase in value of $16...
