Daily Archives: October 5, 2021

Family of Popular NFT Projects Launch Collaborative Initiative and Genesis Collection

On Tuesday, a new Draper Goren Holm incubated company called NFT.FAMILY has announced the launch of a new generative non-fungible token (NFT) collection called “Boring Stone.” The new company stems from community members from Fameladysquad, Bored Ape Yacht Club, and Blockchain & Booze.

‘Utilizing Technologies to Build and Empower Our Own Community’

Non-fungible token (NFT) assets are very popular in 2021 and a group of community members from Blockchain & Booze, Bored Ape Yacht Club (BAYC) and Fameladysquad have formed NFT.FAMILY. The new company is backed by Draper Goren Holm, a blockchain venture studio founded by Alon Goren and Josef Holm.

The members wholeheartedly believe that digital currencies and NFT communities are very important. A member of the team dubbed ‘Theehustlehouse’ explains that “Crypto is all about community.”

“We’re utilizing these new and exciting technologies to build and empower our own community,” Theehustlehouse detailed. “This is just the start; we can’t wait to bring more projects like this forward in the future.”

The collaborative effort has led to the first generative NFT Genesis collection called “Boring Stone,” which features BAYC artwork. The new NFT company further details that the Genesis collection is aimed at attracting the “broader NFT community.” The Boring Stone Genesis collection announcement adds:

 The Genesis collection is made up of 10,000 randomly generated NFTs, combining 7 trait categories and over 200 individual unique traits. Categories include the cover image, background, logo, headlines, and a number of easter eggs that when combined create a fun and engaging experience into the world of NFTs.

Linkin Park’s Mike Shinoda to Join the Blockchain & Booze Live Show

The crew of NFT community members explain that the pre-mint for BAYC owners starts on Tuesday at 8 a.m. (EST). The public minting will begin at 3 p.m. and Mike Shinoda of Linkin Park will join a Blockchain & Booze live show at 8 p.m. An hour later, the NFT reveal will take place during the networking session. The American singer, songwriter, rapper, and record producer Shinoda is a proponent of NFTs.

“Over the last two years, Draper Goren Holm has incubated and invested in multiple companies that have come together when their founders met during the Blockchain & Booze networking sessions,” Alon Goren, founding partner at Draper Goren Holm, explained in a statement sent to Bitcoin.com News. “I’m so excited to see what our community will do when they join together to make this community even more fun and productive.”

What do you think about the new NFT company incubated by Draper Goren Holm and the Boring Stone NFT collection? Let us know what you think about this subject in the comments section below.

IHC: Wilder to Land a Blow for Crypto

PRESS RELEASE. LAS VEGAS & ULAANBAATAROn Saturday 9 October, Deontay “The Bronze Bomber” Wilder will be defending the United States’ honor once more. Known for being the first American World Heavyweight Champion since 2004, which was the longest period of time in boxing history without an American Heavyweight Champion, Wilder will rise to the occasion once more. When he steps into the ring at the T-Mobile Arena in Las Vegas to take on the WBC World Heavyweight Champion, Tyson Fury, Wilder will be fighting for the outsider – and a group of rebel crypto-warriors who look to shake up the financial world.

In fight trunks sponsored by Inflation Hedging Coin (IHC), a new crypto asset developed by a group of visionary Mongolian entrepreneurs, Wilder seems to have found the perfect sponsor. IHC has been built to exploit the potential of blockchain to stave off the inflationary effects inherent in the oversupply of fiat currencies. “Wilder’s ongoing crusade for social justice is part of the same battle,” says Co-founder and CFO of IHC, Munkhjin Otgonbaatar. “IHC provides an alternative to ordinary citizens to invest in a financial instrument that reduces their exposure to the knock-on effects of the central banking system, especially as they look to buy their way out of Covid-related recession.”

Known as a ‘rebel coin,’ IHC has picked up major interest in the crowded crypto marketplace. Punching well above its expected weight, thousands of enthusiasts invested 10 million USD in the newly created tokens, buying up the entire first tranche of coins in seconds. The launch of the first 100 billion coins, out of a total of one trillion that will become available, saw IHC becoming one of the fastest-selling cryptocurrencies on record. 25 billion coins were equally placed on four different crypto trading platforms, and it took only 11 seconds on DAX and 43 seconds on Coinhub for people to buy up all the available tokens. Two of the platforms crashed, overwhelmed by over a hundred thousand visitors. The next tranche of IHC tokens will launch on international exchanges in mid-October.

Will the 20,000 audience at the T-Arena be witness to a similar knock-out on October 9th? Fury is the only man to have ever beaten Wilder, a technical knockout in their last bout in July 2020. In their first clash back in 2018, they drew, although Wilder landed his infamous right hand to put Fury on the floor twice during that bout, once in the twelfth round. Will the fight go the distance, or will “The Bronze Bomber” knock out Tyson ‘Gypsy King’ Fury before the final bell?

His punching pedigree, with a 94% knockout rate and only the one loss in 44 fights spanning 15 years with five of them spent as WBC World Heavyweight Champion, means that this is one of the most keenly anticipated bouts in ages. He has put on some extra muscle for the fight and is clearly fit to go the distance.

His sponsors feel the same way. Fellow Co-founder of IHC, Ider-Od Bat-Erdene, an experienced tech-entrepreneur, and aerospace engineer, says that “For us, Wilder exemplifies everything a champion should be – rebellious, resilient, and disciplined. We believe in the same principles. Launching this cryptocurrency is something we have trained all our lives for, something we believe in and will fight for.”

 


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While Politicians Worldwide Clamor Over Tax Evasion, Pandora Papers Show Bureaucrats Are the Worst Offenders

As bureaucrats across the globe continue to ask the common citizenry for access to every financial decision they make, politicians and celebrities worldwide are hiding large amounts of wealth in tax havens according to the Pandora Papers. While American politicians like the Biden administration claim to be against tax corruption, some people view the U.S. as the world’s “main tax lagoon.”

Pandora Papers Expose Hypocrisy Among Bureaucrats Worldwide, US Public Officials Manage to Escape Investigation

During the last month, the Biden administration and other U.S. politicians have been discussing proposed legislation that aims to address tax evasion by the so-called billionaire class and corporate entities. One proposal aims to give the U.S. Internal Revenue Service (IRS) access to bank account information, regardless of tax liability. If enacted, financial institutions across the country would have to report accounts with at least $600 worth of transactions or more. Another proposal aims to introduce “unrealized capital gains” otherwise known as “anti-deferral accounting.”

Meanwhile, this past week the latest release of the Pandora Papers has been published and the documents unveil a great number of politicians worldwide hiding wealth to stay clear of taxation. The papers were released by the International Consortium of Investigative Journalists (ICIJ) and they claim to reveal the “inner workings of a shadow economy” for the “well-connected.” The papers include two million documents from 14 different service providers, exposing over 330 politicians and public officials from various countries.

The Pandora Papers are two times the size of the offshore accounts and the number of public officials named in the Panama Papers. Offshore asset links stemmed from celebrities too, like the professional cricket player Sachin Tendulkar, model Claudia Schiffer, and the world-famous singer Shakira. Interestingly, prominent American bureaucrats managed to stay out of the investigation’s findings despite the record-setting monetary expansion the U.S. has seen in the last two years.

One Reporter Asks: ‘Why Are There No Big American Names in Pandora Papers?’ Russia’s Press Secretary Says the ‘US Is the Main Tax Lagoon for the Whole World’

A few media outlets like NPR and the Washington Post mentioned tax-evading American bureaucrats and the country’s contribution to the Pandora Papers. The Washington Post (WP) quickly said Americans leverage the same methods of tax evasion but no public official was named in the WP report. A scathing report from the Independent doesn’t mention any American politicians but the author decides to investigate why high profile U.S. citizens were not added to the list in the Pandora Papers. While prominent Americans managed to escape being targeted by ICIJ’s investigation, the country itself did not.

Researchers noted that the U.S. is well known for being a tax haven and people from abroad are hiding funds in specific areas located in the United States. Moreover, the research did find that Americans are hiding money in other countries like Central America, but no specific names were included in the research. “The records also show how a firm in Central America became a one-stop-shop for American clients, allowing them to conceal their assets while facing criminal investigations or lawsuits,” The WP author wrote about the evidence found in the Pandora Papers.

The Independent highlights that state governments from Nevada and South Dakota have become tax havens for foreign nationals. NPR said both states “adopted financial secrecy laws that rival those of offshore jurisdictions” While the Western media had failed to implicate any prominent American bureaucrats, Russia’s foreign ministry ridiculed the United States over the findings in the Pandora Papers. Russian president Vladimir Putin’s press secretary, Dimitry Peskov, said the papers make U.S. politicians look like hypocrites.

“What catches the eye is which country is the world’s largest lagoon. This, of course, is the U.S.,” Peskov told the press this past week. “This does not correlate at all with their declaration about the fight against corruption… We see that the U.S. is the main tax lagoon for the whole world,” the Russian president’s press secretary emphasized.

Meanwhile, U.S. politicians are attempting to create tax reform that allegedly targets corporate entities and the so-called billionaire class. However, the proposed guidelines mentioned in the “American Families Plan Tax Compliance Agenda” do not seem to target the American wealthy. Civil rights groups and privacy advocates are concerned about the concepts of “unrealized capital gains” which means citizens would have to pay for capital gains before they even sold their assets.

Additionally, IRS commissioner Charles Rettig and Janet Yellen, the Treasury secretary, want banks to report deposit and withdrawal information tied to the average American’s bank account. The mixture of the Pandora Papers and ideas like the proposed tax compliance agenda shows that the political class of so-called public servants in the U.S. have been hypocrites and have clearly been benefitting at the expense of everyone else.

It goes to show, that while politicians all around the world are complaining about the average citizen evading taxes, bureaucrats are the ones breaking their own rules or leveraging legislated loopholes they created to protect their own wealth.

What do you think about the Pandora Papers and why do you think Americans managed to stay out of this investigation? Let us know what you think about this subject in the comments section below.

Edward Snowden Says Bitcoin Up 10x Since He Tweeted About Buying It, China’s Ban Makes BTC Stronger

Edward Snowden Says Bitcoin Up 10x Since He Tweeted About Buying It, China's Ban Makes BTC Stronger

Privacy activist and whistleblower Edward Snowden says that bitcoin is up about 10 times since he tweeted about buying it. Bitcoin is stronger “despite a coordinated global campaign by governments to undermine public understanding of — and support for — cryptocurrency,” he said.

Edward Snowden Says Bitcoin Stronger Despite Governments’ Anti-Crypto Campaign

Former computer intelligence consultant for the National Security Agency (NSA) and contractor for the Central Intelligence Agency (CIA), Edward Snowden, tweeted about bitcoin Sunday. It references another tweet he made last year that reads, “This is the first time in a while I’ve felt like buying bitcoin.”

“Sometimes I think back to this and wonder how many people bought bitcoin then,” Snowden wrote Sunday. “It’s up [about] 10x since, despite a coordinated global campaign by governments to undermine public understanding of — and support for — cryptocurrency. China even banned it, but it just made bitcoin stronger.”

The price of bitcoin rose from around $5K when he tweeted on March 13, 2020, to about $50K at the time of writing based on data from Bitcoin.com Markets.

Snowden has long been a supporter of bitcoin, tweeting about the cryptocurrency on multiple occasions.

When El Salvador made BTC legal tender alongside the U.S. dollar, the privacy activist wrote: “There is now pressure on competing nations to acquire bitcoin … Latecomers may regret hesitating.”

When Onlyfans said it would prohibit users from posting sexually explicit content due to mounting pressure from banking partners and payment providers, Snowden tweeted, “Bitcoin fixes this.” Furthermore, when President Joe Biden unveiled a historically large $6 trillion 2022 budget in May, Snowden wrote: “Six trillion dollars? This is good for bitcoin.”

What do you think about Edward Snowden’s comments about bitcoin? Let us know in the comments section below.

Bank of America’s Crypto Research Debuts: Digital Assets Are ‘Too Large to Ignore’

Bank of America's Crypto Research Debuts: Digital Assets Are 'Too Large to Ignore'

Bank of America’s Global Research has begun covering crypto, debuting with a report stating that “digital assets are too large to ignore.” Noting that digital assets are “creating a whole ecosystem of new companies, new opportunities, and new applications,” the bank said, “This is growing, this is mainstream, and it’s not just bitcoin.”

Bank of America Debuts Crypto Research

Bank of America announced Monday the launch of its “digital asset research” with the publication of a report titled “Digital Assets Primer: Only the first inning.” The bank wrote:

Report finds digital assets are too large to ignore.

The announcement explains that “The primer provides an investment framework for the digital asset landscape.” The topics it covers include smart contract applications, stablecoins, central bank digital currencies (CBDCs), and non-fungible tokens (NFTs).

Bank of America’s crypto research team was formed in July. It is led by Alkesh Shah, the bank’s head of Global Cryptocurrency and Digital Asset Strategy. Shah said:

Bitcoin is important but the digital asset ecosystem is so much more. Our research aims to explore the implications across industries including finance, technology, supply chains, social media and gaming.

Candace Browning, head of Bank of America Global Research, commented: “Digital assets are transforming the way in which markets, businesses and central banks operate. Bank of America offers a market-leading global payments platform and blockchain expertise, and the addition of digital asset research further strengthens the depth and breadth of our offerings for investors.”

In an interview with Bloomberg TV, Browning explained that the launch was due to “growing institutional interest” and the massive appetite among retail clients.

“If you look at the number of corporates mentioning crypto on their earnings calls, that’s gone from about 17 last year to about 147 in the most recent quarter,” she detailed, adding:

This is growing, this is mainstream, and it’s not just bitcoin … this is digital assets and it’s creating a whole ecosystem of new companies, new opportunities, and new applications.

What do you think about Bank of America launching crypto research? Let us know in the comments section below.

Bitcoin Will Become Currency in Brazil Soon, According to Federal Deputy Aureo Ribeiro

brazil

Aureo Ribeiro, a federal deputy in Brazil, stated that bitcoin might become a recognized currency in Brazil soon, during an interview with local media. The politician stated that Brazilians may be able to purchase houses, cars, and even fast food at McDonald’s with cryptocurrency in the near future. Bill 2.303/15, which regulates cryptocurrencies, might approve the legal use of the asset, similar to El Salvador.

Bitcoin Might Become Regulated Currency in Brazil

Bitcoin might become a regulated currency for payments in Brazil in the near future, according to statements given by Aureo Ribeiro, a federal deputy. Ribeiro stated that with the future approval of Bill 2.303/15, which regulates cryptocurrencies, new uses would be open for crypto holders, such as buying houses, cars, and even food in restaurants like McDonald’s.

These comments are the product of the approval of the so-called Brazilian “Bitcoin Law” for presentation in the Plenary of the Chamber of Deputies, after being stuck in development for years. Ribeiro also stated that, by its design, this law could be a referent for other countries wishing to regulate digital assets, saying its text is “innovative.” In this sense, Ribeiro stressed:

We debated a few years there to arrive at a text that recognizes this asset… which will be regulated by a government agency, because we will work with the Central Bank and the CVM, depending on how this asset will be recognized, such as real estate value or currency of daily use.

Controlling Ponzi Schemes

Ribeiro is also very positive about the effect this law is expected to have in protecting citizens from Ponzi schemes in the sector. Brazilians have been especially hit hard with these scams, with the authorities having to act against the promoters of these alleged Ponzi schemes several times this year. However, cryptocurrencies in Brazil are still a gray area, and authorities are limited in the scope of their ability to control these companies. Ribeiro stressed that with this law, the government wants to:

Separate the wheat from the chaff, create regulations so that you can trade, know where you are buying, know who you are dealing with.

To conclude, the federal deputy said that the law project had support in the government, and it has also been discussed with Arthur Lira, president of the Chamber of Deputies. To Ribeiro, is just a matter of time for the law to be approved.

What do you think about a “Bitcoin law” in Brazil? Tell us in the comments section below.

Blockchain Game Launchpad Partners With Enjin for Accelerated Ecosystem Development

PRESS RELEASE. SINGAPORE EnjinStarter, a launchpad for blockchain games, has announced a strategic partnership with Enjin to accelerate growth of the Enjin ecosystem. EnjinStarter helps games and apps leverage Enjin’s non-fungible token (NFT) technology and infrastructure, specifically the gas-free JumpNet blockchain and Efinity, an upcoming Polkadot-based NFT parachain.

EnjinStarter has secured a seed investment from Enjin and is working closely with the team to accelerate adoption of Enjin’s infrastructure. EnjinStarter offers developers a virtual accelerator program for their games’ blockchain integration, monetization, and marketing strategies, as well as strategic advice and support on using digital assets for fundraising and community building.

“We share Enjin’s vision for blockchain games and the metaverse, and we are excited to work closely with the team to foster adoption in their ecosystem,” said Prakash Somosundram, CEO of EnjinStarter. “The roadmap ahead is ambitious, exciting, and will be game-changing for Enjin adopters and blockchain games as a whole. We’re honoured to play a small role in bringing the community together through our project acceleration and incubation.”

Enjin established itself as a leader in NFTs and blockchain games in 2017. The team has built an extensive community of developers and partners using the Enjin Platform for NFTs, from Microsoft and CoinGecko, to leading play-to-earn games like Lost Relics and Forest Knight. The launchpad will also offer support to Enjin’s official adopter network.

“We are experiencing exponential growth in our developer communities, and we look forward to working with EnjinStarter in this venture to build a thriving ecosystem of games built on blockchain,” said Enjin CEO Maxim Blagov.

EnjinStarter’s multi-level approach to growth includes:

  • A strategic stakeholder network that works with leading global ecosystem builders, including funds like Skybridge 20 Ventures and Kangaroo Capital, who have participated in EnjinStarter’s private investment.
  • An elite scouts’ program to identify and bring in projects to the platform
  • Gamified incentives for community engagement, including opportunities to play-to-earn allocations in upcoming projects


Digital assets like cryptocurrency and NFTs offer developers new ways to fund their games, infuse their in-game economies with real value, and empower players with new levels of value-creation and transfer through NFTs.

Developers interested in using blockchain to monetize, market, and grow can learn more and contact the EnjinStarter team at enjinstarter.com.

EnjinStarter is owned and operated independently, with strategic support from Enjin. # # #

About EnjinStarter

EnjinStarter is a launchpad focused on blockchain games, NFTs, and the Metaverses. We are focused on building an ecosystem for Enjin and Efinity, bringing together a community of innovative developers and content creators to develop strategies for utilizing digital assets in their games and projects. For more information, visit Enjinstarter.com

About Enjin

Enjin is the leading ecosystem for non-fungible tokens (NFTs), offering a comprehensive suite of products for creating, trading, distributing, and integrating NFTs into virtual worlds. As a scalable, affordable platform, Enjin’s technology has seen wide application in blockchain games, apps, enterprise programs, and innovative marketing campaigns. To date, over 1.16 billion Enjin-powered blockchain assets have already been created. For more information, visit enjin.io.

 


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.


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Tanzania Central Bank Heeding Call to Prepare for Crypto, Economists Express Reservations

While the Bank of Tanzania (BOT) executives continue to reiterate the central bank’s willingness to heed the government’s call to prepare for cryptocurrencies, some economists insist Tanzania lacks the resources needed for it to adopt such digital currencies.

Economists: Tanzania an Unsuitable Candidate


In their views, published by the Citizen following the BOT’s latest update, Tanzania’s cryptocurrency opponents argue that a lack of resources makes it “difficult to participate in worldwide trade.”

For instance, the Citizen report quotes Haji Semboja, a professor at the State University of Zanzibar, who suggests that Tanzania’s economic profile makes it difficult for the country to adopt crypto. Semboja explained:

The development of our economies is a complete function of the development of global international monetary and commodity markets. I am not yet to accept an instrument that will never benefit the majority of people. It is not simply because of limited knowledge, but also the level of economic development.


To support his assertions, Semboja points to the fact that countries that expressed an interest in virtual currencies have only gone as far as “putting in place policy, regulatory and institutional framework to cater for these.”

Crypto Adoption in Tanzania


Another economist and business expert, Donath Olomi, is quoted expressing his concerns over the growing adoption of cryptocurrencies in the country because such a trend may indicate Tanzanians want to “keep their wealth out of sight of the government.” He argues that when a “substantial part of wealth is not in control of the government, a country cannot use it to affect monetary policy.”

Meanwhile, an anonymous economist — who claims to see similarities between cryptocurrency investing and betting — suggested that “it was too early to think about cryptocurrency.” However, unlike his fellow economists, the unnamed expert said cryptocurrencies will only become efficient and effective once they receive the backing of all central banks.

Do you agree that Tanzania’s economic profile makes it difficult for the country to adopt cryptos? Tell us what you think in the comments section below.

Nigerian Court Paves Way for CBDC Rollout, Suggests ‘Plaintiff May Be Adequately Compensated’

The Nigerian High Court that is presiding over the e-naira trademark infringement case brought against the Central Bank of Nigeria (CBN), has ruled that Central Bank Digital Currency (CBDC) “may proceed on national interest” considerations. The ruling clears a crucial legal hurdle for CBN’s yet to be rolled out digital currency.

CBN’s Alleged Trademark Infringement


As previously reported by Bitcoin.com News, Nigerian firm Enaira Payments Solution had filed a trademark infringement lawsuit against the central bank for its use of the term “e-naira.” The firm’s lawyers have argued that the CBN’s plan to use the e-naira term posed a threat and would represent a willful infringement.

Yet in a ruling that came just a few days after a CBN spokesperson announced the deferment of the CBDC launch, the High Court judge, Taiwo Abayomi Taiwo, reportedly justified this decision by suggesting the “plaintiff may be adequately compensated.” Parties to the case are now expected to return to court on October 11.

Reason for Postponement


When the CBN announced the postponement of the e-naira launch, observers were quick to speculate that this was linked to the lawsuit. However, a report the Nairametrics pointed to the sustained surge in traffic to the website as the real reason for the postponement. According to the report, this surge in traffic convinced the CBN that it had to do “a reassessment of the system powering the digital currency” before the rollout.

The report however does not state when the central bank expects to conclude the reassessment or the new e-naira launch date.

Do you think that the CBN is capable of successfully rolling out a CBDC? You can share your thoughts in the comments section below.

Bitwage Raises $1.5 Million in Latest Funding Round

bitwage

Bitwage, the pioneer cryptocurrency-based payroll and invoicing company, has raised $1.5 million in its latest funding round. The funding round had participation from Draper Associates and Max Keiser’s Heisenberg Capital, using Bnktothefuture, a platform designed for making online investments. Bitwage will use these funds to extend its functionalities, now that it is facing competition from Coinbase, which launched a similar service for U.S. citizens.

Bitwage Raises $1.5 Million Dollars in 55 Hours

Bitwage, one of the pioneer companies in cryptocurrency payrolls and invoicing services, has closed a funding round raising $1.5 million in the process. The round was undertaken using Bnktothefuture, an online platform that allows registered investors to support projects directly. The company reached its goal in 55 hours and had the participation of Draper Associates and Max Keiser’s Heisenberg Capital.

The funds will be used to further cement the status of the company in the crypto payments service. Bitwage’s CEO Jonathan Chester stated:

When we first started in 2014, Bitcoin payroll was just a niche for cypherpunks and crypto anarchists. The tailwinds are picking up for Bitcoin and cryptocurrency payroll to become a massive multi-billion dollar industry.

Covid-19 Powered Bitwage’s Business

The Covid-19 pandemic is said to have played a big part in the expansion and growth Bitwage is experiencing now. The conditions were conducive to growing business by 20 times in key Latam markets. This is because people were forced to do remote jobs that were located out of their areas, and cryptocurrency has now become a vital part of the lives of these workers.

Bitwage expects these changes in market working trends to keep causing business to grow in the short term. Chester stated that Covid-19 has acted as a “catalyst” for remote work industries and cryptocurrencies.

But there might be problems ahead for Bitwage, now that Coinbase has announced it will offer a similar set of services for workers, who will now be able to receive part of their salaries (or all of them) in crypto. Coinbase will support payments in more than 100 currencies offered by the exchange.

Coinbase claims it is partnering with a number of companies, including Fortress Investment Group, M31 Capital, Nansen, and Superrare Labs, to allow its employees to collect their payments in cryptocurrency. This means the cryptocurrency-based payroll scene will be an interesting market in the near future.

What do you think about Bitwage’s latest funding round? Tell us in the comment section below.