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മാറുന്ന കാലത്തിന് ഒപ്പം മാറുന്ന പണമിടപാട് , ബാട്ടർ സിസ്റ്റത്തിൽ നിന്നും കോയിൻലേക് ,കോയിനിൽ നിന്നും ബിറ്കോയിൻലേക് .. ഫോർ ഓൾ ബിറ്കോയിൻ ന്യൂസ് ,, ജോയിൻ നൗ.....
CoinDesk
First Mover Americas: Fear Returns to Crypto Markets as Bitcoin Plunges Most in 2 Months
The latest price moves in bitcoin (BTC) and crypto markets in context for August 19, 2022. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
CoinDesk
South Africa's Central Bank Greenlights Financial Institutions to Serve Crypto Clients
The central bank warned against the "wholesale" banning of clients over risk after a number of local banks moved to terminate services to crypto exchanges and other intermediaries in previous years.
CoinDesk
World's Biggest Companies Invested $6B in Blockchain Firms September-June: Study
Google's parent company, Alphabet, participated in funding rounds that raised over $1.5 billion for four blockchain and crypto-related companies between September 2021 and June 2022 according to a study by Blockdata.
CoinDesk
Bitcoin Plunges Most in 2 Months, Dashing Recovery Hopes
Bitcoin, the leading cryptocurrency by market cap, fell to the lowest level since July 27 early Friday.
r licenses from Yuga Labs including the new Cryptopunks and Meebits licenses are significantly more professional and explicit in the ownership and license terms,” Galaxy Digital’s researchers detail in Friday’s blog post. “At this point, given the disparity between Yuga’s BAYC license and its newer licenses, it’s unclear whether Yuga Labs intends to confer identical commercial use rights to holders of Apes and Punks.”
What do you think about Yuga Labs releasing the IP rights to the Cryptopunks and Meebits NFT collections? What do you think about Galaxy Digital’s report concerning BAYC’s IP license? Let us know what you think about this subject in the comments section below.
ugust 19. Moreover, while there was $104.78 billion in global cryptocurrency trade volume during the last day, USDT captured $60.19 billion, which equates to 57.87% of today’s crypto trade volume. The chief technology officer at Tether Holdings Limited, Paolo Ardoino, explained on Friday that aligning with BDO shows the company’s commitment to the stablecoin ecosystem.
“We are fully committed to maintaining our role as the leading stablecoin in the market,” Ardoino said in a statement. “The utility of Tether continues to be supported by the transparency of its reserves and has been a leading source of stability allowing us to build a tool for the global economy. Our commitment to transparency and the community is a long-standing pillar in the underlying ethos of the company and aligns with our responsibility as a market leader.”
USDC also leverages a top five accounting services firm, in terms of revenue, Grant Thornton LLP, in order to provide monthly attestations. The Centre consortium, which is made up of Circle Financial and Coinbase Global, is usd coin’s (USDC) custodian and stablecoin issuer. In addition to Tether’s quarterly attestation that looks at reserves held on June 30, Centre and Grant Thornton published a USDC reserves attestation for June 2022 as well.
What do you think about Tether Holdings Limited teaming up with the accounting firm BDO Italia? What do you think about Tether’s latest quarterly assurance report which shows a decrease in commercial paper holdings? Let us know what you think about this subject in the comments section below.
CoinDesk
First Mover Asia: Bitcoin Sinks Below $23K; South Korea's Bumpy Crypto Path Forward
The prices of the largest cryptocurrency in market value and ether both continued recent losing streaks after late-in-the-day declines.
CoinDesk
Crypto Lender Celsius' Collapse Into Bankruptcy Should Be Probed, US Says
Some of the highest profile and controversial bankruptcies in history have included the appointment of an independent examiner.
Bitcoin News
Bitcoin, Ethereum Technical Analysis: BTC, ETH Extend Recent Declines During Saturday’s Session
https://static.news.bitcoin.com/wp-content/uploads/2022/08/shutterstock_1051968554-768x432.jpg This week’s sell-off in cryptocurrency markets worsened on Saturday, with bitcoin falling below $21,000 for the first time in nearly a month. Ethereum also continued its descent in today’s session, as the price of the token dropped under the $1,700 level to start the weekend.
Bitcoin
Bitcoin (BTC) continued to reside in the red to start the weekend, as prices of the world’s largest cryptocurrency fell below $22,000.
Saturday saw BTC/USD fall to an intraday low of $20,868.85, with the token edging closer to a key support level.
This floor has been at the $20,800 point, which was last hit on July 16, when prices were trading below $20,500.
As a result of these declines, the 14-day relative strength index (RSI) dropped to a low of 32.97, which is its lowest point since July 12.
Bitcoin prices have since rebounded, and as of writing are back above $21,000. BTC is currently trading at $21,191.27.
Taking a closer look at the chart, it can be seen that the 10-day (red) moving average (MA), is nearing a downward cross with the 25-day (blue) MA.
Should this trend continue, this could signal further declines, with BTC likely falling below $20,000.
Ethereum
After a strong start to the week, ethereum (ETH) has begun the weekend trading over $400 away from Monday’s peak above $2,000.
ETH/USD, which dropped to a bottom of $1,695.15 on Friday, fell even lower in today’s session, hitting a low of $1,611.34.
This is the lowest level ethereum has traded at in the last sixteen days, after falling below the $1,600 level on August 4.
Honing in on the chart, it appears as if ETH bears are attempting to take prices towards a support point of $1,565.
However, bulls have so far resisted this possibility, pushing back from earlier lows, with the token currently trading at $1,636.11.
The rebound came as the RSI hit a floor of 43.00, and as of writing RSI is tracking at 44.90. Should this head back towards 50, we may see the token rise back above $1,700.
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Do you expect ethereum to climb back above $1,700 this weekend? Leave your thoughts in the comments below.
’s smart contracts and mirror sites to bypass these types of restrictions. The fact is that Uniswap is a company registered in the U.S. and the frontend, or website, is owned by the U.S. entity. In time, people may want to clarify that defi web portals are not decentralized, and the only things that could be classified as such would be the smart contracts and code.
What do you think about the dex Uniswap blocking 253 crypto addresses? Let us know what you think about this subject in the comments section below.
CoinDesk
House Lawmakers Send Letters to 4 US Crypto Miners Asking for Details on Environmental Impact
Core Scientific, Riot Blockchain, Marathon Digital and Stronghold Digital received the letters from members of the Committee on Energy and Commerce.
CoinDesk
Protocolo blockchain Algorand lidera ronda de inversión de $22M en compañía de tokenización Koibanx
Los fondos serán utilizados por la compañía latinoamericana para expandir infraestructura y construir rieles de pago.
CoinDesk
Blockchain Protocol Algorand Leads $22M Investment Round in Tokenization Firm Koibanx
The funds will be used by the Latin American firm to expand blockchain infrastructure and build payment rails.
Bitcoin News
The Central Bank of Colombia Is Studying the Creation of a Digital Currency
https://static.news.bitcoin.com/wp-content/uploads/2022/08/shutterstock_511644472-768x432.jpg The Central Bank of Colombia is studying the launch of a digital currency, according to statements made by its manager, Leonardo Villar. The organization is evaluating the launch of this instrument as a means of unifying the different digital wallets in the country, making them interoperable and easier to use for customers.
Central Bank of Colombia Studies Digital Currency Issuance
Many governments in the world are preparing to launch digital currencies in order to compete with cryptocurrencies and other assets. Leonardo Villar, manager of the Central Bank of Colombia, recently announced that the organization was studying the issuance of a digital currency. During a banking convention at Cartagena, Villar explained that the functions and the convenience of such currency were being reviewed by the bank.
While the officer did not offer more details about the structure or nature of the announced currency, he did reveal that one of the experiences the bank is looking closely at, is one that Brazil has endeavored with the pilot and work made towards development of the digital real, the proposed central bank digital currency (CBDC) of the neighboring country.
Brazil’s digital currency will be able to be used as collateral by financial institutions in the country to issue their own stablecoins, maintaining private banks as part of the financial system.
Objectives of a Hypothetical Digital Peso
According to Villar, one of the biggest objectives of the currency would be to make the different digital wallets that are available in the nation interoperable. This current design is said to be very inefficient, and does not allow for users of these wallets to pay for state-related expenses like taxes.
Earlier this week, Luis Carlos Reyes, head of the DIAN, the Colombian tax authority, also talked about the motivations that the issuance of a national digital currency would follow. Reyes explained that the currency would help the country to have more control over transactions and payments. This would ostensibly allow the country to curb tax evasion, which is estimated to represent up to 8% of the GDP of the country.
In the same way, the regulators will be studying to establish limits on the amount of money that can be paid using cash to incentivize the use of digital, trackable alternatives.
What do you think about the studies that the Central Bank of Colombia is executing to launch a digital currency? Tell us in the comments section below.
Bitcoin News
Indian Police Search for Bitconnect Founder After the US Indicted Him for Defrauding Crypto Investors
https://static.news.bitcoin.com/wp-content/uploads/2022/08/bitconnect-founder1-768x432.jpg The Indian police have launched an investigation into Bitconnect and booked its founder after a bitcoin investor reported being defrauded by the global crypto “Ponzi scheme.” According to U.S. authorities, the scheme reached a market capitalization of $3.4 billion at its peak. The founder and his co-conspirators allegedly obtained about $2.4 billion from investors.
Bitconnect’s Founder Wanted by Indian Police
The founder of Bitconnect, one of the most famous fraudulent cryptocurrency investment schemes, is wanted by the Indian police in the city of Pune, Maharashtra, after the U.S. indicted him for defrauding investors.
The Pune Police launched a probe into the multi-crore crypto scheme and booked its founder, Satish Kumbhani, after a local lawyer lodged a first information report (FIR) on Tuesday. He also named six others involved in the scheme. The lawyer stated in the FIR that he was defrauded for close to 220 bitcoins.
The Indian police are now searching for the accused but no arrests have been made. They are also investigating whether the same people have defrauded more investors.
Kumbhani, an Indian national, is already being investigated by the Federal Bureau of Investigation (FBI). The U.S. indicted him in February for his role as the founder of the fraudulent crypto scheme. Calling Bitconnect a “global Ponzi scheme,” the U.S. Department of Justice (DOJ) described:
Bitconnect is an alleged fraudulent cryptocurrency investment platform that reached a peak market capitalization of $3.4 billion.
The Justice Department explained that Kumbhani, 36, of Hemal, India, “misled investors” about Bitconnect’s lending program. They claimed that it used proprietary technology, namely the “Bitconnect Trading Bot” and “Volatility Software” to “generate substantial profits and guaranteed returns by using investors’ money to trade on the volatility of cryptocurrency exchange markets.” The authority emphasized:
Bitconnect operated as a Ponzi scheme by paying earlier Bitconnect investors with money from later investors.
“In total, Kumbhani and his co-conspirators obtained approximately $2.4 billion from investors,” the DOJ added.
What do you think about the Indian police looking for the founder of Bitconnect “Ponzi scheme”? Let us know in the comments section below.
CoinDesk
New Auditor for Stablecoin Issuer Tether Confirms Slashing of Commercial Paper Holdings
Stablecoin issuer Tether has cut its commercial paper exposure to $8.6 billion, with a reduction to $200 million on track by the end of the month.
CoinDesk
Nigeria's CBDC eNaira Used for Nearly $10M Worth of Transactions Since October
Nigeria's central bank digital currency (CBDC), the eNaira, has been used to carry out transactions worth 4 billion naira ($9.3 million) since its introduction in October 2021, the governor of its central bank has said.
CoinDesk
Crypto Stocks Retreat on Bitcoin's Dip as Macroeconomic Concerns Linger
Cryptocurrency mining equities are among laggards in Friday's trading session.
CoinDesk
Crypto Lender Hodlnaut Faces Singapore Police ‘Actions’ and Job Cuts
The latest firm to freeze crypto withdrawals is engaged in “proceedings” with Singaporean police.
Bitcoin News
Yuga Labs Officially Releases IP Rights Tied to Cryptopunks, Meebits NFTs — Galaxy Digital Report Criticizes BAYC License
https://static.news.bitcoin.com/wp-content/uploads/2022/08/ff-768x432.jpg Yuga Labs, the company behind the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection, has officially released the intellectual property (IP) rights tied to the Cryptopunks and Meebits NFTs. The company acquired the IP rights to the NFT collections in mid-March 2022, and owners can use their NFTs for commercial or personal purposes. Yuga Labs Releases Intellectual Property Licenses to Cryptopunks and Meebits OwnersOn March 12, 2022, Bitcoin.com News reported on the Cryptopunks and Meebits non-fungible token (NFT) collections being acquired by Yuga Labs. The firm Yuga Labs is the company behind the blue-chip NFT collection Bored Ape Yacht Club (BAYC), and when the startup acquired Meebits and Cryptopunks, it promised to release the IP rights in the same way as it did with BAYC NFTs. Bored Apes, Cryptopunks, and Meebits are popular NFT collections today and they command some of the highest NFT floor values.
BAYC’s floor value today is 69.42 ETH, Cryptopunks’ floor is roughly 65.5 ETH, and the cheapest Meebits today is much lower than the Cryptopunks and BAYC collections with a 3.3 ETH floor value. People have used their Bored Apes for commercial and personal use. For instance, Snoop Dogg and Eminem leveraged their BAYC NFT avatars to make a video for the duo’s single called “From the D 2 The LBC,” which was nominated for a VMA.
Similarly, with the Meebits and Cryptopunks NFT collections, owners have the IP rights to use the NFTs for commercial or personal use cases.
Meebits for instance, are already utilized in a number of virtual worlds, applications, and games. Cryptopunks NFTs were recently used by the luxury jewelry and specialty retailer Tiffany & Co. to sell jeweled pendants tied to the NFTs. When Yuga Labs released the IP rights, the co-founders Gordon Goner and Gargamel explained that the company “delivered on a promise” they made to Cryptopunks and Meebits holders.
“IP rights for your NFT. This massive step forward unlocks endless possibilities for creativity and ingenuity, which Meebs and Punks aren’t lacking in the slightest,” the co-founders said in a statement sent to Bitcoin.com News. “We believe that this type of freedom is a critical part of web3, and truly celebrates the founding principles of Yuga Labs: ownership, decentralization, and innovation.”
In addition to Yuga Labs, the official Cryptopunks Twitter page tweeted about the IP rights release. The Twitter account @cryptopunksnfts said:
Punks, the IP rights agreement for the CryptoPunks collection is now live and can be found at https://licenseterms.cryptopunks.app. This moment is something we’ve promised from day one and we’re looking forward to seeing what the community builds, using the terms as guidance. Galaxy Digital Research Report Says the Yuga Labs License Covering BAYC, MAYC, and BAKC NFTs Contains Critical ContradictionsMeanwhile, following the IP rights release on August 15, a newly published Galaxy Digital NFT research report called “A Survey of NFT Licenses: Facts & Fictions” criticizes Yuga Labs’ IP license assigned to BAYC, Mutant Ape Yacht Club (MAYC), and Bored Ape Kennel Club (BAKC) NFTs.
“The license provided by Yuga to holders of BAYC, MAYC, and BAKC NFTs contains critical contradictions which reinforce our finding that license agreements struggle with properly transferring IP to NFT holders,” the Galaxy report says.
Although, the Galaxy Digital researchers Alex Thorn, Michael Marcantonio, and Gabe Parker detail that the new IP licenses for the Meebits and Cryptopunks NFT collections are clearer.
“While the BAYC license is unclear and potentially misleading, newe[...]
Bitcoin News
Tether Hires BDO Italia for Monthly Assurance Reports, USDT’s Quarterly Attestation Shows a 58% Decrease in Commercial Paper
https://static.news.bitcoin.com/wp-content/uploads/2022/08/usdtbdos-768x432.jpg This week, the stablecoin issuer Tether Holdings Limited revealed an update to its assurance and attestation process and detailed that the company has been working with accounting firm BDO Italia. The accounting firm will conduct monthly tether assurance reports based on the stablecoin issuer’s reserves. The following day, Tether published its quarterly assurance opinion completed by BDO and it notes that the company has seen a 58% decrease in commercial paper reserves. Tether Hires BDO Italia, Company Publishes Quarterly Consolidated Reserves ReportTether Holdings Limited, the company behind the largest stablecoin by market capitalization tether (USDT), announced on Thursday that BDO Italia will be conducting monthly USDT assurance reports. In the past, Tether’s assurance reports were written by the firm MHA Cayman, an auditor formally known as Moore Cayman. Tether’s announcement on August 18 notes that it has worked with the top five ranked accounting firm in terms of revenue, BDO Italia, since July 2022 for the firm’s quarterly attestation.
After the announcement noting Tether will leverage BDO for assurance reports, Tether and BDO published the stablecoin’s quarterly consolidated reserves report. BDO’s report breaks down Tether Holdings Limited’s assets as of June 30, 2022. “As of June 30th, the CCR and BDO confirmed a more than 58% decrease in Tether’s commercial paper holdings over the prior quarter from $20B to $8.5B, which is on track with Tether’s commitment to the community,” Tether detailed in a blog post published on August 19. Tether’s consolidated reserves report summary continues:
As previously announced, the exposure to commercial papers will be down to 200m by the end of August 2022 and to zero before the end of the year. During the same period, Tether has increased its holdings of cash and bank deposits by 32%. A Myriad of Stablecoins Falter in 2022, the Number of Tether in Circulation Drops by 18.31% in 130 DaysTether’s recent report follows the issues with myriad stablecoin assets in 2022. On August 17 and 18, the Stable Universe Limited issued HUSD temporarily depegged from its U.S. dollar parity, slipping to $0.827 per unit on Thursday. HUSD’s peg has since been restored, but a few days before the depegging incident, AUSD, a Polkadot-based stablecoin, dropped 98% in value on August 14. AUSD managed to rebound and reach $0.85 on August 19, but the stablecoin is currently trading for $0.8167 per unit. In addition to AUSD, the largest stablecoin depegging event in 2022 derived from Terra’s UST implosion.
The once-stable coin, Terra’s UST, which is now known as terrausd classic (USTC), is currently trading for $0.0237 per unit. This year, stablecoins like Waves’ neutrino usd (USDN), Abracadabra’s magic internet money (MIM), and Tron’s USDD token saw their values slip below the $1 parity. The dominant stablecoins USDT and USDC have not seen such issues in terms of slipping below peg, however, the number of tethers in circulation has dropped considerably since April 11. On that day, there were approximately 82,694,361,442 tethers in circulation after the dollar-pegged crypto saw a 3% increase in growth the month prior.
Today, the number of tether in circulation, according to coingecko.com statistics, indicates that there’s currently 67,549,562,651 tether today. The data shows that over the last 130 days, the number of tether in circulation has dropped by 18.31%. Tether CTO Says Team Aims to Maintain Its Role as the Crypto Economy’s Leading StablecoinThe 67.54 billion USDT represents 6.266% of the entire $1.07 trillion crypto market economy on A[...]
CoinDesk
Ripple Unveils Crypto On-Demand Liquidity Service in Brazil
Ripple is teaming up with the digital bank Travelex to introduce the product, which will initially allow transactions between Brazil and Mexico.
CoinDesk
US Treasury's Tornado Cash Sanctions Are ‘Unprecedented,’ Warns Congressman
With just 28 legislative days left this year, “it’s unlikely that any crypto legislation is going to move,” U.S. Representative Tom Emmer said on CoinDesk TV’s “First Mover” show.
Bitcoin News
Biggest Movers: SHIB Rebounds on Saturday, as ATOM Moves Away From 3-Week Low
https://static.news.bitcoin.com/wp-content/uploads/2022/08/shutterstock_1971532814-768x432.jpg Following three consecutive days of declines, shiba inu rebounded on Saturday, as the meme coin appears to have found a support point. Cosmos was also higher, in what has mostly been a bearish start to the weekend. As of writing, the global crypto market cap is down 1.31%.
Shiba Inu (SHIB)
Shiba inu (SHIB) was back in the green on Saturday, as the token rallied following three straight days of declines.
The world’s twelfth-largest cryptocurrency rose to an intraday peak of $0.00001397 to start the weekend.
This came less than a day after prices of the meme coin were at a low of $0.00001270, which was below a key support point.
Looking at the chart, this price floor was the $0.00001290 mark, however bulls resisted any further declines, pushing SHIB/USD back into the $0.00001300 region.
As of writing, the 14-day relative strength index (RSI) is tracking at 52.13, which is marginally above a floor of 51.44.
Should the index continue to climb, and move towards a ceiling of 58, then we may see SHIB move closer to $0.00001500.
Cosmos (ATOM)
Cosmos (ATOM) was also trading slightly higher to start the weekend, as it too recovered from a recent losing streak.
Saturday saw ATOM/USD race to a high of $11.02, which is over $1.00 higher than yesterday’s bottom below $10.20.
Yesterday’s bearish pressure was not enough to send ATOM below $10.00, with bulls returning to the market, after a brief move below a key support point.
The floor at $10.65 was marginally broken on Friday, however sentiment has since shifted, with some now anticipating a move nearer to a ceiling of $11.55.
As with SHIB, should ATOM bulls want to extend today’s rally, the RSI will need to significantly rise.
Currently the index is tracking at a floor of 48.05, however it would need to move towards a ceiling of 53 for prices to reach the potential target.
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Do you expect cosmos to hit $11.55 this weekend? Let us know your thoughts in the comments.
Bitcoin News
Uniswap Censors 253 Crypto Addresses Blacklisted for Crime, Sanction Associations
https://static.news.bitcoin.com/wp-content/uploads/2022/08/253addys-768x432.jpg According to a recently published report, the decentralized exchange (dex) Uniswap has blocked roughly 253 cryptocurrency addresses allegedly tied to crimes or government sanctions. The information was discovered by the software developer Banteg who analyzed and saved the shared logs from Uniswap’s server. 30 out of the 253 Blocked Addresses Are ENS Domain Names, Uniswap Labels 7 Types of Risk Factor CategoriesOn August 19, the software developer and Yearn Finance contributor Banteg published a Twitter thread that claims the dex Uniswap blocks 253 crypto addresses. “Uniswap has provided an unusual level of transparency,” Banteg said in regard to “frontend censoring via TRM Labs.” Uniswap partnered with TRM Labs in mid-April and the firm blacklists crypto addresses that may be associated with sanctions and crypto crimes.
The same month, reports appeared that indicated a few innocent Uniswap users were affected by the TRM Labs-gated front end. At the time, no one was sure about exactly how many crypto addresses were blacklisted by Uniswap’s TRM Labs-gated front end. Banteg says there are 253 addresses and 30 addresses are ENS domain names. The developer also noted that there are seven different types of risk factor categories and two risk levels.
“Both ownership and being a counterparty of a ‘bad’ address are checked and can contribute to blocking,” Banteg wrote. According to Banteg, the data “wasn’t meant to be public” but the developer noted that people could still have an “exclusive look at the very first [TRM Labs] leak, courtesy of Uniswap.” Smart Contracts and Code Are Defi, Not the Web Platforms That Host ThemThe news follows the recent U.S. government ban of Tornado Cash, the ethereum mixing protocol that leverages Coinjoin and ZKsnark technology. After Tornado Cash was banned an open source developer was arrested, Github code was erased, Tornado Cash Github codebase contributors were suspended, and the project’s Discord server was deleted.
https://static.news.bitcoin.com/wp-content/uploads/2022/08/ffd.jpg
However, the non-profit that focuses on policy issues facing crypto assets, Coin Center, believes the U.S. Treasury Department’s Office of Foreign Asset Control (OFAC) “overstepped its legal authority.” Coin Center is researching the legalities of the Tornado Cash ban and plans to “engage” with OFAC to discuss the matter.
https://static.news.bitcoin.com/wp-content/uploads/2022/08/defidad.jpg
While Uniswap has been updating its TRM Labs-gated front end, there’s likely a whole lot more crypto companies and decentralized finance (defi) protocols following the same measures. For instance, on August 8, Banteg revealed that the Centre Consortium, the stablecoin issuer operated by Circle Financial and Coinbase Global, blacklisted 75,000 USDC that belonged to Tornado Cash users.
“I think this is the first case when a pool has been frozen and not an individual account,” Banteg said at the time.
The issues surrounding Tornado Cash and the precautions taken by defi teams like Uniswap, expose the underlying weakness in so-called ‘decentralized finance’ protocols and whether or not they truly are decentralized.
https://static.news.bitcoin.com/wp-content/uploads/2022/08/ffdds.jpg
Even before Tornado Cash was banned by the U.S. government, Tornado Cash developers blacklisted an OFAC-listed ethereum address using a Chainalysis oracle contract. Moreover, in July 2021, users criticized Uniswap for blocking over 100 tokens from the main interface.
https://static.news.bitcoin.com/wp-content/uploads/2022/08/dggdjsjjdhh.jpg
During both these instances, crypto users discussed how they could simply leverage Tornado Cash code or Uniswap[...]
CoinDesk
Market Wrap: Bitcoin Pauses Losing Streak but the Trend Is Still Not Bullish
BTC was slightly higher on the day, but ETH was outpacing the largest cryptocurrency by market cap. Bitcoin’s price (BTC) increased 0.3% on Thursday, ending a streak of four consecutive negative days. Average trading volume was larger than average. Prices initially declined 0.5% as U.S. equity markets opened.Ether’s (ETH) price rose 1.5% as the second-largest cryptocurrency by market capitalization, outperformed bitcoin. Altcoins were mixed, with EOS falling 7%. while SOL and ATOM increased 0.1% and 4%, respectively.
CoinDesk
New Galaxy Crypto Fund on Path to Raise $100 Million by Year End
Galaxy Digital recently launched its liquid alpha fund and is on the fundraising track now.
CoinDesk
As SEC Leans on Enforcement to Regulate, Crypto Lawyers Study Every Word
The U.S. Securities and Exchange Commission isn’t volunteering to clarify what makes a crypto token a security, but the agency showed some of its hand in enforcement documents crypto lawyers are studying like scripture.
Bitcoin News
Latam Giant Mercado Libre Launches Mercadocoin in Brazil
https://static.news.bitcoin.com/wp-content/uploads/2022/08/shutterstock_2173827585-768x432.jpg Mercado Libre, a leading Latam-based e-tailer, has announced the launch of its own token, called “Mercadocoin,” for Brazilian customers. The token will be the main reward of a loyalty program on Mercado Libre’s platform and will be awarded to customers that purchase certain items linked with the token. The token will have an initial value of $0.10.
Mercado Libre to Launch Mercadocoin Token to Power Loyalty Program
Mercado Libre, a retailer and financial services unicorn in Latam, has announced the inclusion of cryptocurrency as a part of its royalty program. The company announced the launch of its own token, denominated mercadocoin, that will be used to power its rewards to users. The token, to be issued on top of Ethereum, will be given to users that purchase certain articles on Mercado Libre’s platform identified with the loyalty program.
The program, which is already being implemented, will include Brazilian customers only, though the company aims to extend it to other countries in Latam. However, Mercado Libre did not offer any details regarding this expansion. This initial phase will include only 500,000 people, but it aims to reach the full 80 million customers before September.
Token Details
Mercadocoin will be launched at a price of $0.10 first, and then the company will allow it to float in the market. While Mercado Libre does not have plans to list the new token on external exchanges, it is an ERC-20 token, and parallel markets can be funded in different decentralized exchanges such as Uniswap.
Reuters explains that this token initiative seeks to improve the situation that the e-tailer giant is facing in Brazil, having fierce competition from emerging foreign companies like Alibaba and Sea Ltd, whose sales numbers have increased significantly.
The mercadocoin token will have two different uses: It will serve as a means of payment for articles on the platform, and users will also be able to integrate with the trading services of Mercado Pago, and exchange it for other crypto assets.
Mercado Libre’s crypto foray started last year, with the company launching trading services in November in Brazil. This month, the company announced it would extend these trading services to more countries in Latam.
Marcos Galperin, the founder of Mercado Libre, is also a big believer in cryptocurrencies, having declared that bitcoin was a better store of value than gold, but questioning its use due to the power needed to send or receive bitcoin.
What do you think about Mercado Libre’s new rewards token? Tell us in the comments section below.
CoinDesk
Is Filecoin Network's Incentive Plan Sustainable? Crypto Analysts Want to Know
Almost all of the data-storage network’s recent deal growth has come from one incentive program, and project leaders are now looking for new revenue streams.
