Crypto news
Animal Concerts partners with Korea’s Klaytn: K-pop in the Metaverse?
Metaverse concert organizer Animal Concerts has partnered with South Korean unicorn Kakao’s Klaytn network to increase its exposure to the Korean entertainment industry and facilitate Klaytn’s global expansion plans. The Jan. 10 announcement from Klaytn explains that the partnership between Klaytn and Animal Concerts is expected to help Klaytn increase the number of NFTs that are traded on the platform. Klaytn is one of just three blockchains with native support on OpenSea, the largest NFT marketplace, but has the lowest trading volume. Klaytn’s parent company Kakao is also planning an NFT and Metaverse platform called Kakao Games. Animal Concerts will organize and promote concerts in the Metaverse and plans on issuing a cryptocurrency, nonfungible tokens (NFT), and merchandise for top rec...
Buy high, sell high: Custom pipe-maker to Snoop Dogg and Santana tokenizes bongs
Las Vegas-based glass pipe maker to the stars Jerome Baker Designs will launch a series of bong-related NFTs tied to corresponding physical assets early next month. The NFTs, on FDCTech’s Ethereum-based platform, depict the unique glassblowing process for each bong and come with additional unique benefits. They are due to drop on Super Bowl Sunday (Feb. 13) and the corresponding physical bongs will be auctioned off at Superchief Gallery. Jerome Baker Designs Founder and President Jason Harris is considered to be one of the top ten glassblowers in the world, according to smoking products marketplace SLX. He founded the business in the early 1990s and has built custom-made pieces for celebrities such as Snoop Dogg, George Clooney, Grateful Dead, Santana and Rita Marley. He told Cointelegraph...
Zero-knowledge scaling tech Plonky goes live on Polygon
On Monday, Polygon (MATIC), a layer-two Ethereum (ETH) scaling solution that is known for its fast transaction times and negligible gas fees, announced the launch of Plonky2, a zero-knowledge scaling technology, claimed to be the fastest in the world. Zero-knowledge algorithms ensure everything is correctly computed on layer two and return the succinct proof to Ethereum without sending the entire data. Instead of every miner (or staker) verifying every posted transaction, zero-knowledge allows the verification of simplified rolled-up proofs, thereby significantly speeding up the overall network. 1/2 We are proud to announce Plonky2, the world’s fastest ZK scaling tech! Plonky2 is a recursive SNARK that is ~100x faster than existing alternatives! Furthermore, it is Ethereum compatible...
Was $39,650 the bottom? Bitcoin bulls and bears debate the future of BTC price
Bitcoin (BTC) price made a quick pop above $43,100 in the U.S. trading session but uncertainty is still the dominant sentiment among traders on Jan. 11 and bulls and bears are split on whether this week’s drop to $39,650 was BTC’s bottom. Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin has traded tightly around the $42,000 level as the global financial markets digested U.S. Federal Reserve Chair Jerome Powell’s statements on the upcoming fiscal policy changes. BTC/USDT 1-day chart. Source: TradingView Powell indicated that the central bank is prepared to “raise interest rates more over time” if inflation continues to persist at high levels, but analysts were quick to note further comments, suggesting that a low...
Ramp expands presence in US with FinCEN regulation
On Tuesday, crypto-fiat gateway payments platform Ramp announced that its U.S. subsidiary Ramp Swaps LLC had received its registration as a Money Service Business with the Department of Treasury’s Financial Crimes Enforcement Network. The regulatory greenlight enables Ramp to do business in 38 states across the United States. Besides the development, Ramp also has regulatory clearance with the United Kingdom’s Financial Conduct Authority and Poland’s Financial Supervision Authority. Ramp allows users to buy crypto directly in their wallets and decentralized applications, or DApps. Last year, the company grew its transaction volume by approximately 30x. It has partnerships with over 400 blockchain entities worldwide, including Axie Infinity, Mozilla, Opera Browser, Aave, T...
eToro rolls out smart portfolios for new metaverse investors
Brokerage firm eToro introduced MetaverseLife, a new smart portfolio covering stocks and crypto-assets from within the growing metaverse industry, on Tuesday. The company stated that its goal is to offer a diverse range of investments made for long-term exposure. Currently included in the portfolio are Meta Platforms, the new parent company behind Facebook, Roblox and other blockchain-based metaverse developments like Decentraland, The Sandbox and Enjin. There are also a few companies listed in this portfolio that aren’t exclusively blockchain-based but have still contributed to metaverse adoption and development. These include tech firms like Microsoft, Amazon and Nvidia. Dani Brinker, head of investment portfolios at eToro, stated “when evaluating the investment opportunity of emer...
Morocco is number one for Bitcoin trading in North Africa
Estimates from Triple A, a Singaporean cryptocurrency provider and aggregator, state that 0.9 million people, or roughly 2.4% of Morocco’s total population, currently own cryptocurrency. That puts the kingdom as the top country in North Africa and in the top 50 holders of cryptocurrency population percentage, just ahead of Portugal. Data from Useful Tulips — a platform that tracks peer-to-peer BTC trading across the globe — confirms the trend. The Kingdom of the West, as it’s known locally, has been the runaway North African leader for BTC trades in the past year, pipped by only Saudi Arabia when weighing up the entire Middle East and North Africa region. Unfortunately for crypto enthusiasts, there has been no change in crypto laws in recent years. According to Morocco’s Foreign Exch...
Wall Street still not convinced on Bitcoin $100K this year: JPMorgan survey
One of the world’s largest investment banks has its Bitcoin (BTC) price predictions ready for 2022. In a recent poll, JPMorgan Chase asked its clients, “Where do you see Bitcoin trading at 2022 year-end?” Just 5% said they saw the digital coin reaching $100,000, and 9% saw it breaking previous all-time highs, reaching over $80,000. The bank is known for its wealthy client portfolio. While some BTC bulls may welcome the news that 14% of JPMorgan’s clients expect at least a twofold increase, it’s not the fireworks the crypto market is accustomed to. On balance, however, the survey is generally positive. Most clients (55%) see BTC trading at $60,000 or above at the end of the year, with only one quarter expecting prices to slide from the recent lows of $40,000. “I’m not surprised by Bit...
Binance taps former central bank exec to push compliance in CIS and Russia
Binance, the world’s largest cryptocurrency exchange, is putting more effort into increasing compliance in the Commonwealth of Independent States (CIS), Russia and Ukraine. Binance is planning to extend its operations in the region and boost local cryptocurrency compliance and education, Gleb Kostarev, head of operations for Russia and the CIS at Binance, told Cointelegraph on Tuesday. The company additionally expects to focus on the local Binance Smart Chain development and community, he noted. As part of the effort, Binance announced several local hires, including Olga Goncharova, Binance’s new director of government relations in Russia and the CIS. Goncharova previously served at the Bank of Russia as director of the bank’s report processing department from 2014. She was responsible for...
Green and gold: The crypto projects saving the planet
It seems as though the potential benefits of cryptocurrency are often overshadowed by the technology’s inherent vulnerability to exploitation. And it’s true, crypto adoption does come with risks. Over the past year, governments from around the world have raised concerns that crypto could be used to finance terrorism or other illicit activity like money laundering. There have been prohibitive measures everywhere from China to Nigeria, with many crypto exchanges forced into a legislative chokehold. While crypto has its challenges, it has also become a tool for policymakers and activists wanting to make the world a better place. The climate crisis During 2021, public scrutiny of Bitcoin (BTC) energy-intensive mining practices dominated headlines all year long — and for...
Here’s why Ric Edelman believes a third of US adults will be invested in Bitcoin by next year
The financial author detailed in his latest publication that he is optimistic the US SEC will finally give the green light to a Bitcoin ETF In an interview on CNBC’s Halftime Report, the founder of Edelman Financial Engines backed his projection that a third of American adults will be bitcoin holders by the end of the year. Edelman, author of several books in the personal finance space, penned in his latest book titled The Truth About Crypto his predictions for the crypto sector this year. Edelman weighs in on bitcoin adoption and spot bitcoin ETF decision Notable among his predictions is that the number of American adults that own bitcoin will grow from nearly a quarter to a third. Edelman noted that the bitcoin adoption rate is high, and many people are being drawn to digital asset...
Associated Press to launch Polygon-based photography NFT platform
The Associated Press (AP) is launching a nonfungible token (NFT) marketplace where collectors will be able to purchase tokenized photographs from the global news platform. The initial collection of NFTs will include photographs of subjects like space, climate, and war from AP photojournalists. They will be released over several weeks starting on Jan. 31 for varying prices, according to the marketplace’s website. The photographs will be minted as NFTs on the Ethereum layer-two scaling network, Polygon. The platform will support secondary transactions using debit or credit cards, and payments in Ethereum. The marketplace is being built by Xooa, a blockchain infrastructure platform specializing in building “white-label NFT marketplaces for brands and IP owners.” Head of marketplaces at Xooa, ...
