crypto blog
Social trading platform NAGAX launch date announced with $35K promotion prizes
The social trading platform, NAGAX has announced the official date for the launch of its trading platform. Pre-registration (whitelisting) is open and shall run until March 7th. NAGAX also announced the launch of its three promotional prizes that add up to $35,000 that will be given in form of rewards and airdrops to the participants of the pre-registration. The pre-registration is intended to give traders a chance of becoming the first to experience the features of the social trading platform. Promotion prizes The first promotion amounts to a total of $10,000 and shall be shared among the three topmost participants that shall help in promoting the NAGAX platform launch. Number one winner shall get $5,000, number two $3,000, and number three $2,000. The funds will be paid out in form of US...
Red Bull Racing Team scores a $150M multi-year deal with Bybit exchange
The multi-year agreement defines Bybit as a Principal Team partner As the ‘new’ Tech Incubator Partner, Bybit will push for sustainability, diversity, and inclusion The Red Bull Racing Formula 1 team revealed on Wednesday that it reached a $150 million agreement with Singapore-based crypto exchange Bybit. The deal is expected to run for three years, with the funding split evenly at $50 million annually. According to the press release, the deal also marks the “single largest per-annum cryptocurrency venture” within the international sporting space. Bybit will join the team as a principal team partner – a newly-introduced level of partnership for the team. Among other activities, the exchange will also become the sole cryptocurrency exchange partner and Oracle Re...
Fireblocks completes First DAG acquisition to extend its payment offering
This is Fireblocks’ first-ever acquisition Fireblocks aims to enhance its payment offerings to acquirers and payment service providers Crypto infrastructure provider Fireblocks revealed yesterday that it had completed a deal to acquire Israeli crypto payments processor First Digital Assets Group (First DAG). The acquisition of the digital asset payments technology platform is the first-ever Fireblocks has completed. First DAG employees absorbed into the firm as part of the agreement Though specifics were not revealed at the time of the announcement, Fireblocks said that the deal was completed in cash and stocks. Two sources familiar with the matter have indicated that the price could be in the region of $100 million. Fireblocks plans to expand its current payment offering to enable p...
Syndicate protocol helps create 450 new DAOs in just three weeks
Blockchain-based investing protocol Syndicate claims that 10% of all decentralized autonomous organizations (DAO) in existence have been created on its platform in less than three weeks of operation. Syndicate is a DAO creation platform that has landed investments from A13Z and Coinbase Ventures, among others. The team revealed the development in a Feb. 15 tweet. As of this morning, 10% of *all* DAOs have now been created on @SyndicateDAO. In less than 3 weeks And this is just the beginning. — Syndicate ✺ (@SyndicateDAO) February 14, 2022 Will Papper, co-founder of Syndicate explained to Cointelegraph today that the project had created 450 investment clubs as DAOs, which is just a little bit over 10% of the “best estimates” of 4227 DAOs in existence, based on DeepDAO’s metrics and figures ...
New bill aims to ‘mitigate risks’ to US from El Salvador’s Bitcoin Law
A bipartisan group of senators introduced legislation in the U.S. Senate which seeks to mitigate perceived risks posed by El Salvador’s adoption of Bitcoin as a legal currency. The proposed Accountability for Cryptocurrency in El Salvador Act (ACES) aims to “mitigate potential risks to the U.S. financial system” such as money laundering and terrorism funding. The bill was introduced by Republican Senators Jim Risch and Bill Cassidy with Democratic Senator Bob Menendez signing on. Senator Risch wrote in the Feb. 16 announcement that: “El Salvador’s adoption of Bitcoin as legal tender raises significant concerns about the economic stability and financial integrity of a vulnerable U.S. trading partner in Central America.” Senator Cassidy wrote that “recognizing Bitcoin as official currency op...
4% of crypto whales are criminals and they have $25B between them: Chainalysis
Chainalysis data shows that 4068 criminal whales (roughly 4% of all whales) are hodling more than $25 billion worth of cryptocurrency between them. The blockchain analytics firm defines criminal whales as any private wallet that holds more than $1 million worth of crypto with over 10% of the funds received from illicit addresses tied to activity such as scams, fraud and malware. The data is from the “Criminal Balances” section of the Crypto Crime Report that explores criminal activity on the blockchain over 2021 and early 2022. The wide-ranging report also covers topics such as Ransomware, Malware, Darknet markets and NFT related crime. “Overall, Chainalysis has identified 4,068 criminal whales holding over $25 billion worth of cryptocurrency. Criminal whales represent 3.7% of all cryptocu...
Crypto is like ‘venereal disease’ and should be banned: Charlie Munger
Charlie Munger, the ancient vice chairman of Berkshire Hathaway and Warren Buffet’s right hand man, has no issue with providing his honest thoughts on cryptocurrency: He hates it. Speaking at a shareholder’s Q&A session at the annual meeting for LA-based newspaper company, Daily Journal Corp, the 98-year-old investing icon likened crypto to a sexually transmitted disease. “I certainly didn’t invest in crypto. I’m proud of the fact that I avoided it. It’s like some venereal disease.” Munger continued to express his contempt for Bitcoin and other cryptocurrencies, adding, “I wish it had been banned immediately… I admire the Chinese for banning it. I think they were right and we were wrong to allow it.” Munger and Buffet are no strangers to criticizing ...
RCMP asks crypto exchanges to halt trading for wallets connected to truck convoy protests
As reported by Canadian news outlet The Globe and Mail, the Royal Canadian Mounted Police (Canada’s federal police force) sent letters to several cryptocurrency exchanges demanding that they “cease facilitating any transactions” with more than 30 specific cryptocurrency wallet addresses linked to the ongoing truck protests in the country. The letter writes: “Any information about a transaction or proposed transaction in respect of these addresses, is to be disclosed immediately to the Commissioner of the Royal Canadian Mounted Police.” Just two days prior, Prime Minister Justin Trudeau, representing the ruling Liberal Party of Canada, invoked the Emergencies Act in response to a convoy of truckers occupying the nation’s capital (Ottawa) in protest of COV...
NEO price climbs after China’s BSN gives the project the green light on NFT marketplaces
As the field of viable layer-1 blockchain protocols continues to expand, with newer entrants trying to solve the issue of high transaction costs and slow processing times, older projects find themselves utilizing their history and track record to set themselves apart and secure a market share that will ensure their survival through the next market cycle. Neo (NEO) fits the bill described above, and the project is attempting to stage a revival in 2022 as governments around the world slowly open to the fact that blockchains and digital currencies have certain benefits and capabilities that can be integrated into public and private enterprise. Data from Cointelegraph Markets Pro and TradingView shows that the price of NEO has climbed 60%, since hitting a low of $16.10 on Jan. 24, to hit...
Twitter enables users to give and receive Ethereum tips natively
In September 2021, Twitter enabled Bitcoin payments as the first cryptocurrency payment option available via its tipping jar. On Wednesday, the social media platform added a slew of fresh payment services to these existing tipping options, including Ether (ETH). Have you set up Tips on your profile yet so it’s easy for people to show their support? Yes: Cool, we’ve added Paga, Barter by Flutterwave, Paytm, and the option to add your Ethereum address. No: What are you waiting for? Here’s how: https://t.co/Id5TwTpnCF — Twitter Support (@TwitterSupport) February 16, 2022 Users looking to receive ETH tips simply need to enable the platform’s tipping features and add an Ethereum address to the dedicated section of their profile. However, an attempt to add an ENS doma...
Bitcoin price is ‘likely starting the next push up’ if $42K holds as support
The cryptocurrency market remains in a state of flux as investors are once again focused on what steps the U.S. Federal Reserve might take to combat rising inflation and markets wobble as the situation in Ukraine remains tense. Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin (BTC) has hovered around the $44,000 support level and traders are hopeful that an inverse head and shoulders chart pattern will lead to a sustained bullish breakout. BTC/USDT 1-day chart. Source: TradingView Here’s a survey of what several analysts in the market are keeping an eye on moving forward as global issues from inflation to war continue to make their presence felt in the cryptocurrency market. On-Balance Volume shows a bullish reversal Insight into what may lie ahead for Bi...
Portal, a true cross-chain DEX built on Bitcoin to eliminate the use of wrapped tokens
Last month, Ethereum co-founder Vitalik Buterin aired his concern about the security of cross-chain bridges, most of which have become highly susceptible to attacks in the recent past. In a Reddit post, Buterin said that while blockchains remain trustworthy even after a 51% hack, cross-chain bridges provide the hackers with the opportunity to move the stolen funds to other chains through the wrapping of tokens and locking of funds on another chain through cross-chains is trustless and centralized. Centralization and wrapped tokens put the assets of the users at risk. The Portal DEX Portal is a true cross-chain DEX built on Bitcoin and it believes in a future of multi-chain without wrapped tokens or use of third-party custody in moving coins from one chain to another to ensure the safety of...
