Monthly Archives: August 2021

Former US President Donald Trump: Cryptocurrencies Are ‘a Disaster Waiting to Happen’

Former US President Donald Trump: Cryptocurrencies Are 'Potentially a Disaster Waiting to Happen'

Former U.S. President Donald Trump says cryptocurrencies are “potentially a disaster waiting to happen.” In addition, he said that they “may be fake.” His comments followed another when he said bitcoin “seemed like a scam.”

Trump Is Still No Fan of Bitcoin or Crypto

Donald Trump talked about cryptocurrency in an interview with Fox Business Tuesday. Responding to a question about whether he has dabbled in bitcoin or cryptos, Trump promptly said: “I don’t. I like the currency of the United States.” He elaborated:

I think the others are potentially a disaster waiting to happen.

“I feel that it [cryptocurrency] hurts the United States currency,” he continued. “I think we should strengthen, we should be invested in our currency, not in [cryptocurrencies].” He further exclaimed, “They [cryptocurrencies] may be fake, who knows what they are.”

Referring to crypto, the former president admitted, “They are certainly something that people don’t know much about.” He reiterated:

No. I have not been a big fan.

Trump has always been a critic of bitcoin and crypto. In June, he said bitcoin “seemed like a scam.” He added, “I don’t like it because it’s another currency competing against the dollar … I want the dollar to be the currency of the world.”

In 2019, while still president of the U.S., Trump tweeted: “I am not a fan of bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated crypto assets can facilitate unlawful behavior, including drug trade and other illegal activity.”

What do you think about Trump’s comments on bitcoin and cryptocurrencies? Let us know in the comments section below.

Central Bank of Nigeria Selects Barbados-Based Fintech Firm as Technical Partner for CBDC Project

The Central Bank of Nigeria (CBN) has named the fintech firm Bitt Inc. as a technical partner for its digital currency project, the e-naira. As a technical partner, Bitt is expected to use its “technological competence and implementation experience” to help the CBN successfully launch the central bank digital currency (CBDC).

E-Naira Draft Guidelines

The CBN’s unveiling of the Barbados-based firm as its partner comes shortly after reports suggested that the central bank had released draft guidelines for the e-naira. In justifying the selection of Bitt, Osita Nwanisobi, the CBN’s director of communications, touted the fintech’s “tested and proven digital currency experience.”

These claims by Nwanisobi appear to be supported by a statement on Bitt’s website that suggests the fintech firm had signed a contract to conduct a CBDC pilot for the Eastern Caribbean Central Bank (ECCB). The contract was signed in 2019 and in April of 2021, ECCB finally launched its digital currency.

E-Naira and the Financial Inclusion Cause

As previously reported by Bitcoin.com News, the CBN has set October 1, 2021, as the launch date for its CBDC. The central bank insists this digital currency will deepen financial inclusion, and enable cheaper, faster remittance inflows. The apex bank says it expects the e-naira to enhance cross-border trade as well as the effectiveness of its monetary policies.

The launch of the e-naira by the CBN — if successful — will mark the final culmination of a plan that was set in motion nearly four years ago. The launch will also be seen as an important victory for both the CBN and its anti-bitcoin governor, Godwin Emefiele.

Still, with just a few weeks left before the launch, CBN must cross its fingers that it has done adequate preparation to ensure the e-naira is a success.

What are your thoughts on the CBN’s choice of a technical partner? Tell us what you think in the comments section below.

TradeStars Launches Mainnet of Fantasy Sports Stock Trading Game based on Fractional NFTs

PRESS RELEASE. TradeStars has launched “Olympic Torch”, the Mainnet of their Fantasy Sports Stock Trading Game, on 31st August, 2021.

TradeStars’ new Fantasy Sports Game allows users to trade Fantasy Stocks of world-class athletes, whose value is directly influenced by the real life performance statistics of the respective player. The Fantasy Stocks can be purchased using USDT for now; fiat payment gateways (for INR and USD) are on their way.

Fantasy Sports Gaming Today

Fantasy Sports Gaming has seen a steady rise in both popularity and valuation over the last decade. The global Fantasy Sports market was valued at $20.7 billion in 2020. It is expected to reach $48.1 billion by 2027, growing at a CAGR of 12.8% from 2021 to 2027.

Existing Fantasy Sports games all work on a similar model, which involves users creating their own ‘dream teams’ of their favorite players and earning points based on how their selected athletes perform in real life. The top users with the maximum points usually win monetary rewards at the end of each tournament or season.

In such games, users are severely restricted in their choice of sportspersons while creating their fantasy teams, which often forces them to change their teams with every match to optimize the available players. Moreover, such apps are only operational during match days.

TradeStars has introduced a completely new sports gaming model which does away with all these limitations.

TradeStars – the NASDAQ for Fantasy Sports

TradeStars has been conceptualized as a NASDAQ for Fantasy Sports Stocks, built on the Ethereum blockchain and powered by Polygon (erstwhile Matic). The trading market on TradeStars is open 24×7, all 365 days of the year.

Fantasy Stocks purchased by users are directly transferred to their wallets. Every transaction is recorded on the Ethereum blockchain, ensuring complete transparency and enhanced security. Integration with Polygon’s Layer 2 scaling solution provides almost instantaneous and gasless transactions, leading to a much superior user experience as compared to most of the existing DApps.

Users who take keen interest in sports can use their sporting knowledge to identify early and purchase the Stocks of promising newcomers which have the potential for more upside. This is similar to purchasing stocks of a growing enterprise while they are still priced low.

NFT Markets for Fantasy Stocks

TradeStars uses NFTs (Non-Fungible Tokens) to represent the real life performance stats of athletes. Moreover, instead of issuing a single NFT to represent each unique athlete (or each Fantasy Stock), TradeStars utilizes the concept of Fractional NFTs and issues what is referred to as “NFT Markets”.

The NFT Markets make it possible for buyers and sellers to purchase or sell any amount of Fantasy Stocks as they want, including fractions. This significantly enhances the liquidity offered for the Fantasy Stocks, and simultaneously provides buyers the flexibility to invest exactly as much money as they want.

As of now, TradeStars has listed Fantasy Stocks of Cricketers from all around the world. Some of the Fantasy Stocks are locked for trading, and will get unlocked only after 10,000 units of that particular Stock are purchased cumulatively.

In the coming months, Fantasy Stocks of sportspersons from various other popular sports will be featured as well on the TradeStars roster, starting with Football.

TradeStars Mainnet Launch

The Mainnet launch event was attended by over 500 viewers. It included various events, including an interactive session with Founder Christian Hentschel, with a $250 reward pool for the best questions. A host of Fantasy Stocks of popular Cricketers will be unlocked by TradeStars. These Cricketers had been selected earlier through decentralized community voting rounds.

The event also saw Anshul Pareek, Head of Marketing, announce various upcoming referral programs and reward campaigns, where participants can win special edition TradeStars Olympic Torch NFTs among other prizes. Apart from that, the Winners of the Warm Up Rewards Campaign, which sought to reward the most active participants of the Testnet phase, were announced.

Speaking about the future of TradeStars, Christian said, “TradeStars is here to change the Fantasy Sports Gaming sector. Now you have a Sports Fantasy game where you can not only apply your sports strategies to earn money, but also enjoy the thrill of Fantasy Stock trading whenever you want. We have just got started, and will constantly bring you new features and contests to keep your adrenaline pumping.”.

Go to tradestars.app to check out the new revolution in Fantasy Sports Gaming.

 


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Metamask Surpasses 10 Million Monthly Active Users, Climbing 1,800% in 12 Months

Metamask Surpasses 10 Million Monthly Active Users Climbing 1,800% in 12 Months

On Tuesday, the noncustodial digital currency wallet Metamask announced that the platform has surpassed 10 million monthly active users (MAUs). Year-to-date, Metamask has seen 19x growth since July 2020 as MAUs climbed 1,800% in 12 months.

Metamask Hits Over 10 Million Monthly Active Users

There’s no doubt that Metamask has been a popular Ethereum blockchain wallet that is also compatible with technologies like Polygon, Optimism, and Arbitrum. The wallet was created by the blockchain software company Consensys in 2016 and a great number of decentralized finance (defi) applications support Metamask.

In a Tuesday announcement, Metamask says that in July 2020 the platform saw 545,080 MAUs and by April 2021, Metamask had 3 million MAUs. Today, Metamask has 10,354,279 MAUs and has grown 1,800% since July 2020.

In the announcement, Metamask described some of the drivers that pushed the software’s MAU growth exponentially. For one, Metamask is considered the “primary way” global defi users interact with 17,000 unique Web3 domains. Metamask is also used to access the growing phenomenon of non-fungible token (NFT) assets that have taken the world by storm.

Two other things accelerated Metamask growth and one of them was the token swap feature. Alongside this, the Metamask mobile software gave the blockchain wallet an extra push in September 2020. Metamask’s growth announcement details:

The launch of the mobile version in September 2020 has played a crucial role in rapidly bringing new users from global markets such as the Philippines, Vietnam, China, India, Indonesia, Thailand, and Brazil.

Top 15 Geographical Metamask Regions, Celebration With Decentraland

Metamask says that as of August 2021, the software’s top 15 countries include: the Philippines, the United States, Vietnam, the United Kingdom, China, India, Russia, Brazil, Indonesia, Thailand, Turkey, Germany, France, Canada, and Spain. Metamask is thrilled about the growth and is partnering with Decentraland on September 2, 2021, to celebrate the milestone.

“Metamask defined a new kind of cryptocurrency wallet, where users don’t just interact with currencies, but with decentralized applications, and we are constantly making these new kinds of applications more safe and accessible to a broader audience,” Dan Finlay, Metamask’s co-founder concluded. “We’re letting users explore new ways of establishing trust on the internet,” he added.

What do you think about Metamask’s MAU growth? Let us know what you think about this subject in the comments section below.

Naomi Osaka Reveals New NFT, Dogecoin Sparks Tennis Star’s Interest in Cryptocurrencies

The popular professional tennis player Naomi Osaka has been discussing non-fungible token (NFT) assets and the meme crypto asset dogecoin in recent times. In a recent interview, Osaka said that she’s been talking to her agent about dogecoin and that she sees the crypto ecosystem “is getting bigger.”

Naomi Osaka Drops ‘Finding What Was Lost’ NFT

Naomi Osaka is a very popular tennis player and was ranked No. 1 by the Women’s Tennis Association (WTA). The tennis legend has approximately 1.1 million Twitter followers, 2.8 million Instagram followers, and she’s reported on regularly by the press. On August 30, Osaka crafted a non-fungible token (NFT), according to Cool Media PR and the NFT is called “Finding What Was Lost.”

Osaka and her sister, Mari Osaka, also introduced a collection of six NFTs back in April. According to Mari, “Finding What Was Lost” is “Naomi’s favorite of the six” NFTs. Osaka’s NFT collection in April sold for close to $600K. A caption by the NFT artist Mari Osaka says: “While she may occasionally lose her way, Naomi always manages to find herself back on the path she has been searching for.”

Osaka’s NFTs leverage the Flow blockchain, the same technology that is leveraged by top NFT products like NBA Top Shot. The NFTs are all signed by Naomi Osaka and Mari Osaka. Naomi also discussed her new fascination with cryptocurrency and blockchain solutions with Bloomberg columnist Sridhar Natarajan on Monday.

Tennis Star Reads About Dogecoin and How It’s ‘Going to Pop Up’

Interestingly, like a great number of celebrities and popular brand names, Naomi Osaka seems to be a fan of the meme-digital asset dogecoin (DOGE). Dogecoin has seen a significant increase in value reaching an all-time high (ATH) at $0.737 per unit four months ago. However, DOGE is down 60.27% from its ATH but it is still up 8,746.53% year-to-date against the U.S. dollar.

Speaking with Natarajan, Osaka said she’s been looking at coins and some of her newfound attention was sparked by DOGE. “I was actually just talking with my agent about cryptocurrencies,” Osaka explained to Natarajan. “I know that online, everything is getting bigger. I remember reading about Dogecoin… there’s going to be something new and interesting that’s going to pop up.”

What do you think about Naomi Osaka getting into NFTs and dogecoin? Let us know what you think about this subject in the comments section below.

Player Bedazzled as Jewel-Themed Slot Gem Splitter Unlocks a $95,000 Jackpot With a $95 Bet

Player Bedazzled as Jewel-Themed Slot Gem Splitter Unlocks a $95,000 Jackpot With a $95 Bet

Sparklingly hot casino slot game Gem Splitter unlocks a treasure worth 2 BTC for this lucky player!

A ludicrously big multiplier was applied to one of the bets that a lucky player placed on the dazzlingly beautiful slot game ‘Gem Splitter’ at Bitcoin.com Games. This big win marks a second for the month of August as another player bagged a jackpot of $75,000 previously on the game ‘Book of Aztec’.

The fortunate player had the casino gods on their side as a 1000x multiplier was triggered on a bet of $95, bringing the effective win amount to $95,000 or 2 BTC, as per current evaluation. Slot games are known for churning out huge money multipliers on even the smallest amounts of bets, turning the fortunes in favor of anyone’s life, empowering them towards desirable objects and lavish lifestyles.
Player Bedazzled as Jewel-Themed Slot Gem Splitter Unlocks a $95,000 Jackpot With a $95 Bet

Gem Splitter is a stylish 5-reel slot with up to 9000x multiplier!

‘Gem Splitter’ is a relatively new jewel-filled slot game from the gaming provider Wazdan. As a 5-reel slot, the game features an innovative Multiways mechanic that offers up to 59,049 ways to win, and is capable of throttling your bets with up to a 9000x multiplier.

Bitcoin.com Games is host to a wide variety of slot games that players can choose from. Each with its own set of unique visual themes and multipliers of up to 100,000x – some even higher. Featuring many of the top iGaming providers, the crypto casino has quickly become a fun and reputable gaming portal to play on. The premium casino by Bitcoin.com is also one of the most trustworthy crypto casinos there is.

Play Gem Splitter now or check out other games with big jackpots and bonuses that you can play on Bitcoin.com Games.

Genesis Digital Assets Acquires 20,000 Bitcoin Mining Rigs From Canaan, Company Has Option to Buy 180K More

Genesis Digital Assets Acquires 20,000 Bitcoin Mining Rigs from Canaan, Company Has Option to Buy 180K More

The China-based bitcoin ASIC mining machine manufacturer Canaan has announced the company has forged a partnership with Genesis Digital Assets, and the two firms have now signed a deal for a large purchase order. Genesis will buy 20,000 bitcoin miners from Canaan and the mining operation also has the option to purchase an additional 180,000 mining rigs from the Chinese ASIC manufacturer.

Canaan Sells Genesis 20K Miners, Genesis Can Buy 180K More

Bitcoin mining rig manufacturers have made very large sales during the second half of 2020 and into 2021. For instance, in December 2020, Bitcoin.com News reported on Marathon’s record-breaking acquisition of 70,000 high-performance bitcoin miners from Bitmain for $170 million. That same month, Riot Blockchain bought 15,000 Antminers from Bitmain.

During the first week of August 2021, Marathon purchased 30,000 miners from Bitmain. Canaan sold 11,760 next-generation A1246 ASIC Avalonminers to a company called Mawson Infrastructure Group in April. At the end of that same month, Genesis Digital Assets purchased $93 million worth of ASICs from Canaan. In mid-June, Genesis revealed it bought 10,000 ASIC bitcoin miners from Canaan.

Now Genesis and Canaan have announced the companies have settled on another agreement. According to the announcement on August 31, the mining operation Genesis has purchased 20,000 bitcoin mining machines from the China-based mining rig maker.

But the two companies are also looking to settle on the “largest mining machine deal to-date,” as Genesis now has the option to purchase 180,000 ASIC miners from Canaan. The co-founder and executive chairman of Genesis Digital Assets, Abdumalik Mirakhmedov, says the firm hopes to increase the capacity a great deal by 2023.

“The Bitcoin mining machines from this latest purchase order are part of our on-going efforts to rapidly scale our bitcoin mining operations in North America and the Nordics where we are focused on energy that comes from renewable sources,” Mirakhmedov said in a statement. “These new machines will dramatically increase our capacity as we work towards our goal to increase our capacity to 1.4 gigawatts by the end of 2023.”

Canaan Shares Dip 74% Since Mid-March

Canaan is a publicly-listed firm, which has shares that trade on Nasdaq, and each share on Tuesday is swapping for $9.24 per unit. However, Canaan (Nasdaq: CAN) shares have lost 74.61% in value since March 11, 2021, when a single CAN share exchanged hands for $36.40. Nangeng Zhang, the chairman and CEO of Canaan, says the company remains “diligent in helping miner clients” expand.

“Since we entered the long-term partnership with Genesis Digital Assets earlier this year, we have reached several great deals,” Zhang said. “This order with an option of future large purchases further solidifies our collaborations and reflects both parties’ confidence in the prospect of the cryptocurrency mining industry,” the Canaan CEO added.

What do you think about Canaan’s recent deal with Genesis Digital Assets? Let us know what you think about this subject in the comments section below.

Topps Unveils New MLB Inception NFTs — Firm’s NFT Series Now Minted on the Avalanche Blockchain

The American firm that manufactures chewing gum, candy, and collectibles, The Topps Company Inc., has announced the launch of the 2021 Topps MLB Inception NFT collection. Furthermore, Topps is now leveraging the Avalanche blockchain for NFTs after the company was using the Wax blockchain for projects like the Garbage Pail Kids and Godzilla series.

Topps Launches MLB Inception NFT Series via the Avalanche Network

On Tuesday, Topps revealed the firm’s 2021 Topps MLB Inception NFT Collection, a non-fungible token collection of cards released in conjunction with Major League Baseball and MLB Players, Inc.

Topps web portal, called Toppsnfts.com, will host the new series of NFT baseball cards this September and the NFTs will be minted on the Avalanche (AVAX) blockchain. The avalanche token has seen massive gains in recent times, capturing 126.6% in two weeks and 223% during the last month.

The latest Topps’ MLB Inception NFT series is based on the physical card series the company has released in the past. Topps says the cards will feature “iconic Topps card designs, motion animations, facsimile signatures and digital relic content that showcases MLB rookies, emerging stars, veteran mainstays and more.”

Topps to End Relationship With MLB in 2025, Bazooka and Bundesliga NFTs

This isn’t Topps’ first time releasing MLB NFTs, as the company launched MLB cards on the Wax Blockchain, alongside numerous other brands like Godzilla, and Garbage Pail Kids (GPK) cards. Furthermore, the first MLB series Topps released with Wax was published in April and called the “2021 Series 1 Baseball Card Collection.”

The press release announcing the new Inception series indicates that the choice to use Avalanche is due to the blockchain’s claimed benefits like being “fast, low cost, and eco-friendly.”

“The site removes the need for special wallets or token apps and provides a single location to buy, sell and explore officially licensed Topps NFT collections,” Topps detailed. Evan Kaplan, managing director of MLB Players, Inc., said the Inception NFT release is a historical milestone. “This Topps NFT product comes at a time when so many talented young players are emerging in baseball and provides collectors with a new way to connect with them as their careers take shape,” Kaplan remarked. The MLB Players, Inc. director added:

This is an opportunity for fans to own a piece of collectible baseball history.

While Wax.io won’t be producing Topps MLB cards, the company still has well-known partners like Robotech, Atari, Funko, Capcom, Street Fighter, and Bratz. Moreover, MLB is ending its relationship with Topps after 74 years of working with the firm. MLB has disclosed that it will partner with sports apparel maker Fanatics in 2026 and the company will produce MLB trading cards going forward. Topps is also releasing Bazooka bubble gum-brand NFTs and non-fungible token collectibles for Bundesliga.

What do you think about the latest MLB NFT card series from Topps? Let us know what you think about this subject in the comments section below.

FTX.US Brings Crypto Derivatives to Users with LedgerX Acquisition

  • LedgerX has cleared more than 10 million crypto options and swap contracts since its launch in 2017
  • Other FTX.US expansion plans include applying for BitLicense to offer spot products in New York and enhancing NFT marketplace

FTX.US is set to acquire the parent company of digital currency futures and options exchange LedgerX, the company announced Tuesday.

The US affiliate of Sam Bankman-Fried’s crypto exchange FTX will buy the exchange — regulated by the Commodity Futures Trading Commission (CFTC) — as a way to bring crypto derivatives to its US user base.

The acquisition is expected to close in October. The financial terms of the deal have not been disclosed.

LedgerX, which launched in 2017, offers physical settlement of all contracts, block trading and algorithmic trading opportunities for institutional investors. It has cleared more than 10 million crypto options and swap contracts and pioneered the bitcoin mini contracts that enable granular trading. 

The combined company will look to create products for retail and institutional traders and will put resources toward developing a strong working relationship with the US regulatory community, specifically with the CFTC.

Hong Kong-based FTX in May 2020 launched its US business, which currently only offers spot trading in coins such as bitcoin, ether, bitcoin cash, litecoin, paxos gold token and tether. 

More volume trades globally in crypto derivatives than in spot crypto, as the market is more attractive to many investors from an efficiency and hedging perspective, explained FTX.US president Brett Harrison.

“It’s only natural to want to engage the largest capital market in the world inside the US with that same product through all of our existing institutional and retail customers who want to trade these products,” he told Blockworks.

Instead of spending what could have been years applying for and receiving licenses in this space, Harrison added, FTX.US decided to acquire. LedgerX is classified as a Designated Contract Market (DCM), a Swap Execution Facility (SEF), and a Derivatives Clearing Organization (DCO).

“They have the relationship with the CFTC, they have a number of licenses, they have an excellent team,” Harrison said. “We have the capital, we have the technological expertise and we have a great platform as well, so it was kind of a perfect fit.”

FTX.US will first look to offer bitcoin and Ethereum futures and options, which LedgerX currently provides, the executive said. Over time, the two teams will work with the CFTC to bring more products to its platform under the FTX.US brand.  

“US crypto derivatives is an incredibly underserved market, and it took time and resources for us to become a regulated entity under the existing frameworks,” LedgerX CEO Zach Dexter said in a statement. “FTX.US has taken the view, which we share, that US regulators are ready and willing to partner on innovative products, and it’s the responsibility of the industry as a whole to step up and work with agencies like the CFTC.”

FTX.US reported in July that its average daily volume grew 150 times from June 2020 to June 2021, peaking at $993 million during a 24-hour period on April 22.

Amid the growth, FTX.US has focused on its brand exposure in recent months, partnering with the MLB and making Shark Tank’s Kevin O’Leary an ambassador

FTX raised $900 million for its Series B round, valuing the company at $18 billion. Bankman-Fried has said publicly that FTX.US is looking to get licensed where it can, noting that the fundraise would be used to ensure regulatory compliance.

As for further plans to expand FTX.US, Harrison told Blockworks that the business is focused on increasing its retail users and plans to apply for a BitLicense to offer spot products to New York customers.

FTX.US is also working to enhance its marketplace for non-fungible tokens, he added. The exchange launched its NFT marketplace about three months ago, and the market has boomed. OpenSea, the largest marketplace in the space, just hit $3 billion in monthly volume

The post FTX.US Brings Crypto Derivatives to Users with LedgerX Acquisition appeared first on Blockworks.