Daily Archives: September 12, 2021

Croatian E-bike Company Greyp Bikes Integrates Cryptocurrency Payments

Croatian E-bike Company Greyp Bikes Integrates Cryptocurrency Payments

Greyp Bikes, a company founded by Croatian innovator and entrepreneur Mate Rimac, has integrated crypto payments into its online billing system. All of its high-tech cycling products can now be purchased using nine different coins thanks to a partnership with payment processor Paycek.

Greyp Bikes Accepts Cryptocurrencies for Its Electric Bicycles

Croatia’s Greyp Bikes, which is aiming to rank among technological leaders in the cycling world, has taken another innovative step. The company has introduced support for payments with nine major cryptocurrencies – BTC, ETH, BCH, XLM, XRP, DAI, EOS, USDT, and USDC – through a cooperation with Paycek, the country’s leading crypto payment processor. It recently announced:

Greyp News Everybody! Cryptocurrencies can now be used to purchase Greyp bikes directly.

“Greyp has always been at the forefront of technology in the biking world, so this was the next logical step to take in the further development of the brand,” the Sveta Nedelja-based manufacturer of high-performance e-bikes added.

The company also noted that while customers had been able to buy its bikes with cryptocurrency even before the partnership with Paycek, crypto payments have now been streamlined and completely integrated into the online checkout process at its website, Greyp.com.

Croatian E-bike Company Greyp Bikes Integrates Cryptocurrency Payments

Paycek is a platform developed by Croatian fintech startup Electrocoin. The payment processor has already helped other local companies to start accepting cryptocurrencies. Over 45 Tifon gas stations across Croatia introduced crypto payments through Paycek earlier this year while Electrocoin enabled Croatian Post to offer a crypto exchange service at its post offices two years ago.

“The move should come as no surprise to anyone who monitors what Livno-born entrepreneur Mate Rimac does when it comes to both his cars and his bikes,” the Total Croatia news portal commented in its report on Greyp’s decision to integrate cryptocurrency payments.

The Croatian entrepreneur launched Greyp Bikes in 2013 as a sister company of Rimac Automobili, a manufacturer of electric sports cars which he founded in 2009. The car company is now partially owned by VW Group’s Porsche and Hyundai. In July, Porsche and Rimac announced the establishment of a joint venture that will incorporate Volkswagen’s high-performance brand Bugatti.

Greyp’s integration of cryptocurrencies is not the only such example in the cycling industry. U.K.-based company Toba Electric Bikes, which retails e-bikes manufactured by the Spanish brand BH, introduced support for BTC and BCH payments, and in 2019, released its own utility token in collaboration with SLP-centric trading platform Cryptophyl.

Do you think we are going to see more partnerships like these in the cycling industry? Share your expectations in the comments section below.

As Leading Cryptos Dip Lower in Value, Elrond, Osmosis, Tron, Cosmos Token Values Climb

As Leading Cryptos Dip Lower in Value, Elrond, Osmosis, Tron, Cosmos Token Values Climb

On Sunday, digital currency markets have seen some slight improvements but overall since September 6, 2021, the $2.21 trillion cryptocurrency market capitalization is down 9.79% from $2.45 trillion. While dominant coins like bitcoin and ethereum have slid between 8-12% during the last week, a number of other digital assets have seen double-digit weekly gains and even double-digit percentage spikes during the last 24 hours.

This Weekend’s Double-Digit Crypto Gainers

The price of bitcoin (BTC) has faltered 8% during the last seven days and ethereum (ETH) has dropped by 12% during the week. Cardano (ADA) shed 4% and binance coin (BNB) lost more than 16% during the last seven days.

The top ten crypto-asset XRP saw around 11.6% shaved off its market cap and dogecoin (DOGE) slid by 18.2% this past week. The only two crypto assets in the top ten standings include solana (SOL) up more than 26% this week and polkadot (DOT) up 5.5%.

As Leading Cryptos Dip Lower in Value, Elrond, Osmosis, Tron, Cosmos Token Values Climb
Prices taken for this weekend’s market update report were recorded on September 12, 2021, at 3:00 p.m. (Eastern Standard).

Solana and polkadot are part of a group of decentralized finance (defi) tokens and ethereum (ETH) competitors that have been moving up the ladder in value. On Sunday, elrond (EGLD) spiked 27.5% during the last 24 hours and is up 70.2% this week.

Osmosis (OSMO) is up 24.5% today and 57.5% during the last seven days. Tron (TRX) jumped 20.5% in 24 hours on Sunday and cosmos (ATOM) spiked by 20.1% in one day. 24-hour stats show avalanche (AVAX) is up 16.1% today and AVAX has risen 32.3% this week.

Tether Commands Weekend’s Top Crypto Trade Volume

Another top performer this weekend is algorand (ALGO) up 14% on September 12, and polkadot (DOT) is below ALGO’s standings. Kusama (KSM) has lifted by 10% today and sushi (SUSHI) from the Sushiswap decentralized exchange (dex) platform is up 7.4% today.

As Leading Cryptos Dip Lower in Value, Elrond, Osmosis, Tron, Cosmos Token Values Climb
Prices taken for this weekend’s market update report were recorded on September 12, 2021, at 3:00 p.m. (Eastern Standard).

Sushi has lost 12% during the course of the last seven days, however. While solana (SOL) saw weekly gains, the coin is the third-largest losing coin on Sunday with a 5.6% loss in value. The top two coins that have lost the most fiat value this weekend include fantom (FTM) down 7.8% and icon (ICX) down 6.2% on Sunday.

Coin market cap aggregators show there is $118 billion in trade volume among all 10,000+ crypto-assets in existence today. The stablecoin tether (USDT) commands the top trade volume today with $61.8 billion worth of swaps.

Bitcoin (BTC) has around $27.3 billion in trades and ethereum (ETH) commands $18.1 billion in global trades. Cardano (ADA) is the fourth contender in terms of today’s 24-hour volume with over $6 billion in global swaps with ADA. Lastly, BNB has captured $4.6 billion in worldwide trade volume during the last 24 hours.

What do you think about the groups of coins that saw double-digit 24 hour and seven-day percentage gains? Let us know what you think about this subject in the comments section below.

Arbitrum Surpasses $1.5 Billion in TVL Following Rumors of a Possible Token Airdrop


Arbitrum, a second layer expansion rollup for Ethereum, has breached the $1.5 billion of total value locked (TVL) in protocols using its services. The smart contract recorded an influx of more than 1 billion just today after a rumor started in social media that the protocol might be planning to issue its own token in the coming days. The second layer was launched on mainnet less than two weeks ago.

Arbitrum Blows Past $1.5 Billion TVL

Arbitrum, an L2 scaling solution for Ethereum, has reached a new milestone, breaking the $1.5 billion in TVL in less than two weeks since it launched in mainnet. It had a big influx of liquidity yesterday, with more than $1 billion entering the network according to info from L2Beat. Protocols in Ethereum are still adapting their structures to include Arbitrum services, but the layer has experienced sizable support, even when Ethereum heavy hitters like Compound and Aave still haven’t adopted it.

Most users are flocking to the first farming platform in Arbitrum, called Arbinyan (related to the nyan cat meme). Arbinyan has 1.48 Billion TVL, meaning that almost all of the funds in Arbitrum have been moved to get the astounding yields the farm is offering (3,314.70% APY in the Nyan pool at the time of writing).

Token Rumors

However, there might be another reason why these funds have moved to the Arbitrum layer. A rumor about the possible issuance of a native token as an airdrop spread yesterday on social platforms like Twitter. Cryptocurrency influencer Cobie inquired about it, declaring:

ETH L2s (Optimism/Arbitrum) almost definitely gonna do a dydx/uniswap style retrospective token drop right?”

However, apart from the rumor, Offchain Labs has not declared anything regarding the possible issuance of a native token. In fact, Arbitrum had to clarify the subject in its official Twitter account. It declared:

Reminder: there is no Arbitrum token. Anything claiming to be an official Arbitrum token is a scam.

Ethereum users are always on the lookout for protocols that lack a native token, waiting for a possible airdrop to happen. Last week, Dydx, a decentralized derivatives exchange, released the airdropped native token for its users. The protocol gave some of its heavy users $50K for using the platform. This is why there is such a buzz on the possible issuance of a native token by the protocol.

What do you think about Arbitrum’s native token issuance rumors? Tell us in the comments section below.

BIS Asks Central Banks to Urgently Develop CBDCs to Compete With Crypto Assets

BIS Asks Central Banks to Urgently Develop CBDCs to Avoid Falling Behind Cryptocurrencies

The head of the Bank of International Settlements (BIS) Innovation Hub, Benoît Cœuré, has urged central banks to act now on central bank digital currencies (CBDCs) to compete with initiatives in the private sector, including cryptocurrencies. “CBDCs will take years to be rolled out, while … crypto assets are already here,” he said.

BIS Says Central Banks Need to Hurry up With CBDCs

Benoît Cœuré, head of the BIS Innovation Hub, talked about central bank digital currencies (CBDCs) at the Eurofi Financial Forum, Ljubljana, Friday. He called on central banks to urgently develop CBDCs to compete with payment initiatives in the private sector, including cryptocurrencies.

“Today, the financial system is shifting under our feet,” he explained. “Big techs are expanding their footprint in retail payments. Stablecoins are knocking on the door, seeking regulatory approval. Decentralized finance (defi) platforms are challenging traditional financial intermediation. They all come with different regulatory questions, which need fast and consistent answers.”

Asserting that “CBDC will be part of the answer,” he explained: “A well-designed CBDC will be a safe and neutral means of payment and settlement asset, serving as a common interoperable platform around which the new payment ecosystem can organize.”

The BIS official added: “It will enable an open finance architecture that is integrated while welcoming competition and innovation. And it will preserve democratic control of the currency.” He opined:

The time has passed for central banks to get going. We should roll up our sleeves and accelerate our work on the nitty-gritty of CBDC design. CBDCs will take years to be rolled out, while stablecoins and cryptoassets are already here. This makes it even more urgent to start.

Cœuré explained that the BIS Innovation Hub is helping central banks develop CBDCs. “We already have six CBDC-related proofs of concept and prototypes being developed in our centres, and more to come,” he revealed.

Cœuré added: “A CBDC’s goal is ultimately to preserve the best elements of our current systems while still allowing a safe space for tomorrow’s innovation. To do so, central banks have to act while the current system is still in place – and to act now.”

According to the Atlantic Council’s CBDC tracker, 81 central banks are currently exploring their own digital currencies. Among them, five have launched, 14 are being piloted, 16 are under development, and 32 are being researched.

Among the central banks currently studying CBDCs is the European Central Bank (ECB), which recently announced the official launch of a two-year investigation of a digital euro. “Once the investigation phase has ended, we will decide whether or not to start developing a digital euro,” the bank said.

What do you think about the BIS asking central banks to speed up CBDC development? Let us know in the comments section below.

NFT Market Sales Drop by More Than 50% — Popular NFT Collection Trade Volumes Nosedive

After non-fungible token (NFT) sales soared during the month of August, the first week of September’s NFT sales has been awful. Statistics show the number of sales in mid-August tapped a high of 193,693 sales but plummeted 86% to 27,053 sales on September 10. Metrics from the most used marketplaces show that volume has slid considerably following the same fallout cryptocurrency market have felt during the last four days.

NFT Sales and Trade Volumes Plummet

So far, September has not been the best month for NFTs and sales in this space. Last month, non-fungible token (NFT) markets saw record sales and a number of individual NFTs from the hottest collections sold for top dollar.

According to nonfungible.com’s market history, on August 16, 193,693 sales were settled and that number subsequently fell 62% to 73,154 sales on August 22. However, from 73K sales spiked 88% to 138,109 sales on August 30 and ever since then, sales have been on a free fall to Friday’s 27,053 sales on September 10.

Opensea Volumes Drop More Than 50%, Popular NFT Collection Volumes Slide 80% Lower

Dappradar.com metrics show that the most popular NFT marketplace, Opensea, has suffered a loss of 52.47% during the last seven days in terms of volume. Opensea still pulled in $639.6 million in sales during the last week but also lost around 6% of NFT traders.

Foundation’s volume is down 22% during the last seven days and Rarible’s volume slid 28%. Tezo’s NFT market called Hic et nunc has lost 26% and Superrare.co’s volume is down 67% on September 11, 2021. Interestingly, Decentraland’s volume jumped by 17% this past week and the Wax blockchain Atomic Market rose by 1.44% this week.

NFT collections have suffered this week as well when last month many of the top NFT collections saw significantly-sized sales. Seven days statistics from Dappradar show Axie Infinity’s NFT trade volumes have decreased by 0.85% to $147 million.

The NFT volumes from the Loot (for Adventurers) collection slid by more than 80% during the last seven days. Bored Ape Yacht Club (BAYC) dropped 46% and Cryptopunks volumes dipped by 61% during the last week.

What do you think about non-fungible token (NFT) sales and trade volumes plummeting after August’s record sales? Let us know what you think about this subject in the comments section below.

Crypto Mining Should Be Registered and Taxed in Russia, Financial Market Committee Chair Says

Crypto Mining Should Be Registered and Taxed in Russia, Financial Market Committee Chair Says

Cryptocurrency mining should be registered as entrepreneurial activity and taxed as such, according to Anatoly Aksakov, chairman of Russia’s parliamentary Financial Market Committee. The lawmaker also thinks Russian digital currency regulations need refinement.

Amendments Likely to Affect Mining, Taxation, Definition of Digital Currency

Discussing upcoming changes in the legislation regarding digital currencies in Russia, head of the Financial Market Committee in the State Duma, Anatoly Aksakov, expressed his opinion that cryptocurrency mining should be added to Russia’s register of entrepreneurial activities and taxed accordingly.

The treatment of crypto mining and the taxation of cryptocurrency-related operations are among the areas that are likely to be affected by the legal amendments to be adopted during the fall session of the Russian parliament. Speaking to Tass news agency on the sidelines of the Moscow Financial Forum this week, Aksakov elaborated:

Since this is a type of entrepreneurial activity, obviously, it is necessary to enter it into the register, assign a corresponding code and introduce taxation.

The parliamentarian was positive that amendments concerning digital currencies are to be expected as the Duma has already adopted on first reading a law dealing with the taxation of “in fact, cryptocurrencies.” Earlier this month, Chairman of the Committee on Legislation Pavel Krasheninnikov told Interfax that he hopes the law will hit the floor of the lower house again in the coming months.

Anatoly Aksakov further noted that the use of the legal term pertaining to cryptocurrencies, as it’s now defined, causes confusion. The concept of “digital currency” can refer to a central bank digital currency (CBDC) issued by the Bank of Russia but it can be understood as cryptocurrency as well, the lawmaker explained. Aksakov thinks the two should be clearly distinguished.

Crypto Mining Should Be Registered and Taxed in Russia, Financial Market Committee Chair Says

The Financial Market Committee chairman insisted more discussions are needed to determine what “digital currency” actually means. Although cryptocurrency is referred to as digital currency in Russian law, Aksakov pointed out that it is used as a financial instrument and financial asset for investment purposes rather than as a means of payment.

The high-ranking member of the Russian parliament added that Bank of Russia’s powers to issue a digital ruble and maintain its circulation should also be defined. The monetary authority announced a plan to digitalize the national fiat currency last October. The central bank is preparing to issue a prototype of the CBDC by the end of this year.

What are your expectations about the upcoming legal changes regarding cryptocurrencies and related activities in Russia? Let us know in the comments section below.

Zimbabwean Minister Says Cryptocurrency Based Solutions ‘Could Lower Charges for Diaspora Remittances’

The Zimbabwean minister of finance, Mthuli Ncube, has once again talked up the potential advantages of using cryptocurrencies. In new comments made shortly after visiting the DMCC Crypto Centre in Dubai, Ncube raises the possibility that the country might use cryptocurrency-based solutions to lower the cost of remitting funds across borders.

Understanding Cryptocurrencies

Prior to making these remarks about cryptocurrencies, Ncube has previously urged Zimbabwe to “invest in understanding emerging innovations like bitcoin.” At the time, Ncube, who had just been appointed finance minister, told Zimbabwean authorities to emulate countries like Switzerland which he said were “investing in and understanding bitcoin.”

However, in his latest positive comments about cryptocurrencies, Ncube said:

I visited the DMCC CRYPTO CENTRE in Dubai, which is a fascinating incubation hub for crypto currency and payment solutions. Came across solutions that could lower charges for diaspora remittances.

While some within Zimbabwe’s crypto community on Twitter have applauded Ncube for making such comments, many others are not amused. Instead, they are asking why it has taken a tour of an incubation hub in Dubai to prod the minister into addressing the issue.

Still others like Victor Mapunga, CEO of Flexfintx, are quick to remind the minister that Zimbabwe already has enough blockchain and crypto start-ups. In his reply to Ncube’s tweet, Mapunga wrote:

We already have blockchain & crypto companies in Zimbabwe such as Flexfintx. Work with local players.

Mixed Reaction to Ncube’s Comments

Meanwhile, a report by Techzim concludes that the minister, who tweeted about DMCC Crypto Centre right after the tour, is in fact not aware that Zimbabwe already has start-ups that offer similar solutions. The report then lists some of the blockchain start-ups that already offer faster payments solutions and low-cost, cross-border remittance services.

However, not everyone agrees that crypto is a solution to the country’s currency woes. For instance, Twitter user Senator Jopa Sayeyo wrote:

“When banks stop manipulating the forex exchange rate then maybe then the Reserve Bank of Zimbabwe [RBZ] can consider cryptocurrency. Otherwise, it will lead to a massive crash of the ZWL [Zimdollar].”

What are your thoughts on this story? You can share your views in the comments section below.

Marvel Comics Tells Freelance Artists Not to Mint Marvel-Brand NFTs, Publisher to ‘Introduce Opportunities for Creators’

Marvel Comics Tells Freelance Artists Not to Mint Marvel-Brand NFTs, Publisher to 'Introduce Opportunities for Creators'

Last March, the comic book publisher DC Comics told freelancers that intellectual property (IP) and characters owned by DC Comics were off-limits in regards to freelancers leveraging the IP for non-fungible token (NFT) asset sales. A recent report indicates that Marvel Comics has also told freelance artists that the sale of NFT products featuring Marvel’s IP is off-limits as well.

DC Comics and Marvel Tell Freelance Artists to Hold Off on Auctioning NFTs Featuring Company’s IP

A report published on Friday shows that the world’s largest comic book publisher Marvel Comics does not want artists to use Marvel’s products and IP for NFT sales.

Back in March, Bitcoin.com News reported on DC Comics’ legal executive sending a letter to staffers and freelance artists telling them to cease and desist NFT initiatives that involved DC Comics’ IP. Before the letter went out, comic book artist José Delgo sold a Wonder Woman-themed NFT collection via Makersplace.

“Please note that the offering for sale of any digital images featuring DC’s intellectual property with or without NFTs, whether rendered for DC’s publications or rendered outside the scope of one’s contractual engagement with DC, is not permitted,” the letter from DC’s legal team noted. Following the letter, one artist uploaded the letter to Opensea and sold it as NFT art called “A Marvel to Behold” for $2,000 worth of ethereum (ETH).

The report concerning Marvel’s cease and desist stems from a story published by the Bloomberg author Madis Kabash.

Marvel Plans to ‘Introduce New Opportunities for Marvel Creators,’ New Jersey Comic Book Dealer Says the Game Has Changed

Bitcoin.com News has been reporting on Marvel’s entry into the NFT space as the comic book publisher teamed up with Orbis Blockchain Technologies Limited and the Veve Digital Collectibles app.

Marvel Comics Tells Freelance Artists Not to Mint Marvel-Brand NFTs, Publisher to 'Introduce Opportunities for Creators'
Captain America and Spider-Man NFTs from Marvel and the Veve App.

At the beginning of August, the company celebrated “Marvel Month” and introduced Spider-Man non-fungible tokens. At the end of August, Marvel dropped Captain America NFTs for Marvel’s 81st anniversary. In a statement sent to Bloomberg contributor Madis Kabash, Marvel explained that the company will provide Marvel creators with opportunities. Marvel said:

[Marvel Comics] plans to introduce new opportunities for Marvel creators on Veve’s platform.

The Bloomberg editorial discussed the subject with members of the comic book industry and spoke with the New Jersey-based comic dealer Jason Schachter. The secondary dealer explained that artists used to be able to sell originals with no hassles and it was this way for “decades.”

“Creators have always had the power to sell their originals directly,” Schachter stressed in his interview.

What do you think about Marvel Comics telling creators and freelancers not to create NFTs using Marvel characters? Let us know what you think about this subject in the comments section below.

61% of US Adults Do Not Oppose Bitcoin as Legal Tender, Survey Shows

61% of US Adults Do Not Oppose Bitcoin as Legal Tender, Survey Shows

Following El Salvador making bitcoin legal tender, a survey was conducted to ascertain whether U.S. adults support or oppose a similar move in the U.S. Among 4,912 adults who participated, 61% did not oppose.

Majority of Adults in US Do Not Oppose Making Bitcoin Legal Tender, Survey Shows

Yougov America Inc. conducted a survey Thursday to ascertain whether consumers are for or against adopting bitcoin as legal tender in the U.S. A total of 4,912 adults in the country participated in the survey. Yougov is an international research data and analytics group headquartered in London.

Survey respondents were asked: “Would you support or oppose the U.S. making bitcoin a legal form of currency? This would mean that businesses would accept bitcoin in exchange for goods and services, in addition to continuing to accept the U.S. dollar.”

According to the results, 11% said they “strongly support” and 16% said they “somewhat support.” Meanwhile, 11% said they “somewhat oppose,” 28% said they “strongly oppose,” and 34% said they “don’t know.”

Survey of whether U.S. adults oppose or support adopting bitcoin as legal tender in the U.S. Source: Yougov America Inc.

Among male respondents, the number of people who strongly support making bitcoin legal tender rises to 15% and 17% said they somewhat support. Among female respondents, only 7% strongly support and 14% somewhat support.

The top age groups that strongly support BTC as legal tender in the U.S. are 25-34 (20%) and 35-44 (19%). Meanwhile, 26% of the 18-24 age group and 24% of the 25-34 age group somewhat support.

What do you think about this survey? Let us know in the comments section below.

Bitcoin Could ‘Go up Significantly,’ Says CIO of World’s Largest Asset Manager Blackrock

Bitcoin Could ‘Go up Significantly,’ Says CIO of World’s Largest Asset Manager Blackrock

The chief investment officer of the world’s largest asset manager, Blackrock, says he could see bitcoin going up significantly. “I like assets that are volatile that have upside convexity,” he said.

Blackrock CIO Sees Significant Upside to Bitcoin

Rick Rieder, Blackrock’s chief investment officer (CIO) of Global Fixed Income, was asked Friday in an interview with CNBC about his view on bitcoin now that the cryptocurrency is legal tender in a country.

Blackrock is the world’s largest asset manager, with about $9.5 trillion in assets under management (AUM) at the end of the second quarter. Rieder is also the firm’s head of the Fundamental Fixed Income business and head of the Global Allocation Investment Team. He is responsible for roughly $2.4 trillion in assets.

Rieder began by commenting on the popular opinion that cryptocurrency is either “a hedge or an alternative [currency].” Regarding cryptocurrency as a hedge, he said, “I’m not sure it’s a really great hedge,” citing its correlation to equities and risk assets. Noting that its price can move 15% a day, he reiterated, “I’m not sure it’s a great hedge.”

Regarding cryptocurrency as “an alternative currency,” he opined:

Part of why I own a small piece of bitcoin is I do think there are more people who are going to enter that fray over time … I like assets that are volatile that have upside convexity. I could see bitcoin go up significantly.

Rieder noted that Blackrock has a “very moderate” amount of cryptocurrency in its portfolio. Emphasized that bitcoin is volatile, he said he does not see it as a core asset like bonds or stocks. Nonetheless, he sees value in having a small amount as a speculative tool in a portfolio.

In November last year, he said that cryptocurrency was here to stay and could even replace gold to a large extent.

Do you agree with Blackrock’s CIO? Let us know in the comments section below.