Crypto news
New York remains undecided on the crypto mining debate
A bill is to be voted on in New York to decide on the future of proof of work mining in the state Meanwhile, Texas congressman Pete Sessions has mooted crypto to rebuild energy independence in the US There is a bill – A7389C – waiting to be voted on in the New York State Assembly, after which, if approved, will go for confirmation in the Senate. The bill is crucial as it could define New York’s future as cryptocurrencies are concerned. In particular, the bill opposes the enactment of a moratorium to halt all proof of working mining-related activities temporarily. This bill was proposed in line with the enforcement of the Climate Leadership and Community Protection Act, which targets to cut down greenhouse emissions in New York by 85% by 2050. The Act also requires that the state gets...
Here’s why Bitcoin bulls will defend $42K ahead of Friday’s $3.3B BTC options expiry
Over the past two months, Bitcoin (BTC) has respected an ascending triangle formation, bouncing multiple times from its support and resistance lines. While this might sound like a positive, the price is still down 11% year-to-date. As a comparison, the Bloomberg Commodity Index (BCOM) gained 29% in the same period. Bitcoin/USD 1-day chart at FTX. Source: TradingView The broader commodity index benefited from price increases in crude oil, natural gas, corn, wheat and lean hogs. Meanwhile, the total cryptocurrency market capitalization was unable to break the $2 trillion resistance level and currently stands at $1.98 trillion. In addition to 40-year record high inflation in the United States, a $1.5 trillion spending bill was approved on March 15, enough to fund the government through Septem...
Fetch.ai (FET) gains 43% after $150M development fund and Cosmos IBC announcement
Development across the cryptocurrency ecosystem continues to move forward despite the day-to-day whipsaw price movements and this progress is furthering the public’s awareness of Web3 and the value of blockchain technology. One project that has been climbing the charts amid a marketing push to develop better brand recognition is Fetch.ai, a protocol focused on building a token-based decentralized machine learning network capable of supporting the smart infrastructure being built around the digital economy. Data from Cointelegraph Markets Pro and TradingView shows that the price of FET has climbed 43.13% over the past two days, rallying from a low of $0.322 on March 21 to an intraday high at $0.46 on March 23 as its 24-hour trading volume underwent a five-fold increase. FET/USDT 4-hou...
Bitcoin is ‘not regulated’ — Honduras’ central bank pushes back against legal tender rumors
The Central Bank of Honduras, or BCH, addressed rumors regarding the country potentially adopting Bitcoin as legal tender like its neighbor El Salvador — and the answer seems to be negative. In a Wednesday statement, Honduras’ central bank said “for the time being” Bitcoin (BTC) was not regulated in the country and not recognized as legal tender in many others. The BCH reiterated its authority under Honduras’ constitution that it was the only authorized “issuer of banknotes and coins” considered to be legal tender in the country. “BCH does not supervise or guarantee operations carried out with cryptocurrencies as means of payment,” said the central bank, according to a translated statement. “Any transaction carried out with these types of virtual assets is the responsibility an...
GameStop NFT Marketplace now live and powered by Loopring L2
GameStop has confirmed its integration with Loopring (LRC), an Ethereum Layer 2 zkRollup protocol designed for powering decentralized cryptocurrency exchanges, into their highly anticipated NFT marketplace. Adam Browman, Loopring’s Head of Growth, announced on Medium on Wednesday that the beta version of GameStop’s marketplace had gone live. The future of #NFTs are here + they’re powered by #Ethereum‘s second layer Loopring L2 x @GameStop Power to the players.Power to the creatorsPower to the collectors.#L222https://t.co/0gdvKLivfp — Loopring☠️ (@loopringorg) March 23, 2022 According to Browman, GameStop, in partnership with Loopring L2, aims to provide “fast, cheap and secure” access to digital ownership for the masses. Th...
Support for the Solana Ecosystem Introduced on Coinbase
Coinbase, the largest crypto trading platform in the United States, has rolled out support for the Solana ecosystem. A slew of new tokens and features are now becoming available to Coinbase users. “Over the past year, there has been an explosion of interest in web3 and decentralized applications including NFTs and decentralized finance (DeFi),” reads a Coinbase blog post. “One of the blockchain networks that has seen a major increase in use is Solana, which has since built a vibrant community of developers and users alike. The update makes it easier to keep track of cryptos from different networks without the need to manage multiple wallet apps.” Rising interest in Solana According to the crypto exchange, one of the main reasons for the rising interest in Solana over the past year is that ...
Nexo Ventures launches as a $150M Web3-focused fund
The fund aims to promote and push for wider adoption of digital assets Nexo is betting on the role of blockchain tech in the future of finance Switzerland-headquartered digital asset firm Nexo has today announced the launch of Nexo Ventures, an investment arm that will help it interact with Web3 start-ups and institutional projects in areas including NFTs, blockchain gaming, decentralised finance, payments and trading infrastructure, crypto applications, and compliance solutions. Investors to captain the fund’s inaugural release include Texture Capital, Bware Labs, Mizar, Yield Protocol, Qredo, BlockFills, and 1inch. Crypto adoption is the principal focus Via this launch, the firm aims to push for the continued adoption of crypto assets, with the belief that blockchain tech wil...
UNI, RUNE, LRC and SUSHI are the most interesting DEX tokens you can get on March 23, 2022 and this is why!
Uniswap (UNI), THORChain (RUNE), Loopring (LRC), and SushiSwap (SUSHI) are all DEX tokens. Each token has showcased significant signs of growth. All of them have the potential to increase in value going forward. If you have a genuine interest in buying decentralized exchange (DEX) tokens, then Uniswap (UNI), THORChain (RUNE), Loopring (LRC), and SushiSwap (SUSHI) are some of the best options you currently have. We are going to go over each token individually as a means of showcasing how far each token can grow in value. Should you buy Uniswap (UNI)? On March 23, 2022, Uniswap (UNI) had a value of $9.86. The all-time high value of Uniswap (UNI) was on May 3, 2021, when the token reached a value of $44.92. When we go over February, Uniswap (UNI)’s highest point was on February 8,...
Crypto and NFTs at F1: What are firms bringing to the races beyond sponsorships?
The cryptocurrency community has always put an emphasis on decentralization and globalization. Therefore, it shouldn’t come as a surprise that a number of crypto companies are sponsoring Formula 1 (F1) racing teams in an attempt to further connect with audiences across the world. Research by global analytics company Nielsen Sports found that Formula 1 has the potential to reach about one billion fans globally this year, with the 16–35 age group accounting for the biggest share. The appeal of F1 is clearly on the rise, and cryptocurrency companies are jumping on board to demonstrate their presence. To put this in perspective, there are 10 F1 teams for the 2022 season and crypto companies are currently sponsoring eight. Source: Motorsport.com Crypto and F1: An ideal marketing match Mar...
US investment bank Cowen launches dedicated crypto division
Cowen, a major American independent investment bank, has officially launched a dedicated cryptocurrency and digital asset division. Called Cowen Digital, Cowen’s new business is designed to offer full-service trade execution and custody for cryptocurrencies like Bitcoin (BTC) and other digital assets for institutional investors, the firm announced on Wednesday. In order to launch the new crypto division, Cowen has collaborated with PolySign’s cold storage-focused subsidiary, Standard Custody and Trust Company. The bank is also a client of Digital Prime Technologies, a brokerage solution-focused firm providing business and compliance services, the announcement notes. Cowen initially announced plans to move into the crypto custody business in May 2021, entering a partnership with Standard Cu...
Terra may be about to repeat $125M BTC buy that sparked Bitcoin’s run to $43.3K
Bitcoin (BTC) could be set for a repeat of this week’s run to weekly highs after Blockchain protocol Terra appeared set to buy another $125 million of BTC. A wallet thought to belong to Terra but not officially confirmed to be under its control sent another 125 million Tether (USDT) to Binance on March 23. Rinse and repeat for 5.6% BTC price gains? The Bitcoin price narrative gained a new player this week after Terra co-founder Do Kwon let slip about a plan to back a new U.S. dollar stablecoin, TerraUSD (UST) with both BTC and Terra’s LUNA token. The buy-in required to do so amounts to $3 billion, he told commentator Udi Wertheimer last week, adding that the bulk of purchasing had yet to occur at the time. Analysis of the presumed wallet supports that thesis, with the first 125...
‘Satoshi Island’ crypto utopia receives 50K citizenship NFT applications
Step aside, El Salvador, there’s a new Bitcoin-centric destination on the map. As a 32-million-square-foot private island sanctuary in the remote South Pacific, Satoshi Island is a “place for the crypto community to call home.” A combination of honeymoon getaway, Bond-villain hideout and naturalist paradise, there’s one enigmatic exception to Satoshi Island: it’s 100% crypto. Talking to Cointelegraph, the Satoshi Island team of Denys Troyak, James Law, Taras Filatov and Benjamin Nero mentioned that it is: “A true crypto-economy where everything will be paid for in crypto and all ownership on the island is represented with NFTs.” With its name inspired by the creator of Bitcoin (BTC), Satoshi Nakamoto, the team added that “the island intends to host events all year round, house and headquar...
