Square CEO and tech mogul Jack Dorsey says that the payments company is establishing a new business that aims to create decentralized finance (DeFi) services focused on Bitcoin. Although most DeFi applications are built on the Ethereum blockchain, Dorsey says that Square plans to bring Bitcoin to the emerging crypto subsector. ADVERTISEMENT “Square is …
Yearly archives: 2021
Polygon launches blockchain gaming and NFT studio
Ethereum (ETH) infrastructure developer Polygon has spun off a new subsidiary to advance its work in blockchain gaming and nonfungible tokens, or NFTs, offering further insight into the company’s long-term growth strategy. The newly formed Polygon Studios has three core objectives: establish Polygon’s position as the leader in decentralized gaming; create a brand that attracts …
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Coinbase sued over Dogecoin Sweepstake ad Campaign
A Coinbase user has filed a class action lawsuit seeking $5 million in damages because of an allegedly misleading Dogecoin campaign. In the legal document, David Suski, the plaintiff, said he was deceived into trading $100 of Dogecoin (DOGE) for an entry into a $1.2 million sweepstakes offer on Coinbase. The document claims that Coinbase …
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Price analysis 7/19: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, BCH, LTC
Bitcoin (BTC) broke below the immediate support at $31,000 today and that has resulted in selling across several major altcoins. Coincidently, the fresh push to the downside in Bitcoin has come a day after the much talked about unlocking of shares worth about 16,000 Bitcoin from the Grayscale Bitcoin Trust. The sell-off in cryptocurrencies could …
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Former BitGo employee will help deploy Andreessen Horowitz’s $2.2B crypto fund
Major venture capital firm Andreessen Horowitz will be promoting a former employee of digital asset infrastructure provider BitGo to assist in running its $2.2 billion crypto fund. According to Andreessen Horowitz general partner Katie Haun, Arianna Simpson will be joining partners Chris Dixon, Ali Yahya and Haun for the launch of the firm’s $2.2 billion …
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Bank of America Offering BTC Futures to Clients, XRP, ADA, RUNE, Jul. 19
US bank joins Goldman Sachs in providing futures access to clients. XRP sees a big transfer of tokens to Binance. ADA tests smart contracts. BTC Bitcoin was weaker on Monday as stock markets swooned on the latest surge in virus variant cases and inflation last week. BTC Price Index Bitcoin is lower by $1,000 on …
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Illuminating The Dark Age Of Blockchain: Algorand
In this paper, we argue that blockchains are trapped in a dark age of technology centralization. The wars of multi-chain DeFi push the market to abandon decentralization, its oldest and most foundational principle. Crypto’s citizens search for “fast” technologies that optimize for DeFi yield generation, even if this hands power to a new class of …
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Top Crypto Analyst Flips Bullish on Dogecoin, Says Bitcoin Bull Market Not Over
A closely followed analyst predicts a strong Dogecoin (DOGE) surge amid the prevailing bearish sentiment in the crypto markets. The pseudonymous analyst, known as Kaleo, says that he sees the meme cryptocurrency skyrocketing 200% from its current value of $0.17 to $0.51. ADVERTISEMENT “Looks like a solid spot to punt a DOGE long. Bouncing …
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Robinhood warns a crypto revenue drop is coming amid IPO filing
Stock and cryptocurrency trading app Robinhood is expecting its quarterly revenue to decrease based on significantly high trading volume earlier this year. In an amendment to its Form S-1 filed with the United States Securities and Exchange Commission on Monday, Robinhood reported that its trading activity for January and February was “particularly high” but had dropped …
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Arsenal FC to launch AFC Fan Token on Socios
English Premier League stalwart Arsenal F.C. is launching a new fan token in partnership with Socios, giving its supporters the ability to influence club decisions and access team-related content. The partnership makes Socios the main digital meeting place for Arsenal’s fanbase, according to a Monday announcement from Chiliz, the exclusive blockchain of the Socios platform. …
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China is pumping money out of the US with Bitcoin
The ongoing United States-China trade war is in its fourth year. Former U.S. President Donald Trump saw different results from what he initially expected: America has taken a hit from higher tariffs and sanctions against Chinese companies and hasn’t benefited from it nearly to the same extent. It has cost the country up to 245,000 …
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Axie Infinity (AXS) axes almost half its value following 971% bull run
A supersonic rally in the Axie Infinity market that saw its native token AXS surge by 972% in just 23 days is now risking exhaustion. AXS price Fib fractal The AXS/USD exchange rate plunged to as low as $16.02 on Monday, four days after topping out at $29.86. In doing so, the pair attempted to …
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US Feds want to tame ‘wildcat’ stablecoins like Tether and USDC
A research paper titled “Taming Wildcat Stablecoins,” published in the Social Science Research Network (SSRN) by a professor of finance at Yale, Gary Gorton, and the US Federal Reserve attorney Jeffery Zhang, urges supervision of stablecoins. According to the authors, regulating issuers as banks and introducing a central bank for digital currency (CBDC) would help …
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Binance ‘burns’ nearly $400 million worth of BNB
Major cryptocurrency exchange Binance has announced that it successfully completed the 16th quarterly token burn yesterday, removing $393.6 million worth of Binance Coin (BNB) from circulation. “We have completed our 16th quarterly BNB token burn of 1,296,728 BNB (roughly $393,673,653.52 equivalent). The latest quarterly burn includes the actual burning of 1,291,565 BNB, plus an additional …
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Bitcoin’s Value Dropped 8% This Week, Analyst Says Equities Correction Could Impact Crypto
Digital currency markets have slipped in value this week as bitcoin has shed more than 8% of its value over the last seven days. The entire market capitalization of all 10,000+ crypto assets has also dropped 3.4% in value to $1.25 trillion on Monday. Crypto markets are following the trend of large drops seen across …