Daily Archives: November 10, 2021

While BTC Skyrocketed to $69K, Whale From 2013 Transfers $147 Million Worth of ‘Sleeping Bitcoins’

Following the string of 20 block rewards spent on Wednesday, an idle bitcoin wallet that was created on July 10, 2013, transferred 2,207 so-called ‘sleeping bitcoins’ worth over $147 million. Both of these massive transactions took place on the same day bitcoin reached an all-time price high at $69,000.

2013 Whale Transfers 2,207 Bitcoin Worth $147 Million

  • On Wednesday, November 10, 2021, a ‘forgotten’ stash of bitcoins that sat idle for eight years and four months woke up for the first time since the wallet’s creation. The action was caught by Btcparser.com and the massive whale spent 2,207 bitcoin worth well over $147 million.
  • The original address was first created on July 10, 2013, and it contained approximately 2,207.60 BTC which was split into two addresses. The first output sent 300 BTC while the second output sent 1,907.5997 BTC and the rest of the funds were used for network fees.
  • The privacy of the transaction from 2013 got a score of 45 (low privacy) on Blockchair’s privacy-o-meter transaction tool. A total of three vulnerabilities were discovered in the transaction worth $147 million and one included matched addresses that were identified.

While BTC Skyrocketed to $69K, Whale From 2013 Transfers $147 Million Worth of 'Sleeping Bitcoins'

  • Today’s whale action is similar to the dormant address move with a wallet stemming from the same year saw strange activity in May 2021. At the time, the activity from bitcoins obtained in 2013, also saw re-distribution transfer.
  • The transferred 2,207 bitcoins worth over $147 million that derived from an address created on July 10, 2013, follow the 20 block reward whale spend that happened at around 1:30 a.m. (ET).
  • The 20 decade-old block rewards from 2010 spent on Wednesday saw a “critical” privacy score on Blockchair’s privacy-o-meter and scored a zero. The transaction which saw the movement of 1,000 BTC from 2010 suffered from a total of five privacy vulnerabilities.
  • Between the 2010 whale and the 2013 whale, 3,207 BTC was transferred by just two entities, as bitcoin (BTC) skyrocketed to $69K on Wednesday. BTC dropped in value after tapping the $69K handle to a low of $62,857 at 4:30 p.m. (ET) on November 10.

What do you think about the massive 2013 whale transfer that took place the same day 20 block rewards from 2010 were spent and BTC smashed an all-time price high? Let us know what you think about this subject in the comments section below.

MUNCH Hits Record-Breaking 1000 ETH Charity Donation Milestone

PRESS RELEASE. Charity donation project MUNCH announces the ground-breaking milestone of donating over 1000 ETH to various charitable projects, making MUNCH the world’s leading charitable crypto project.

MUNCH is a Defi project that incorporates automatic donations into financial transactions. 3% of every MUNCH transaction is diverted, automatically converted to ETH, and then routed to a community-chosen and verified charity. It requires no action or decision making and gives people autonomy over their investments.

MUNCH converts donations at the point of the transaction and sends it directly to the charity’s wallet address. This means that donations do not destabilize the token’s value and the charities can either store the ETH which has a relatively stable value or choose to auto-convert directly to FIAT as soon as they receive the donations.

Utilizing blockchain technology creates a system of automated, trustless donations, MUNCH has just celebrated the tremendous milestone of donating over 1000 ETH. (Valued at $4,205,120 at the time of writing). With no processing required, the crypto donated by MUNCH has been collected and is already in action around the world!

Since launching in April 2021, the 1000 ETH generated by the MUNCH community has been sent to 4 different community-chosen causes. These causes supported by MUNCH are already feeling the impact of the funds donated by the MUNCH community, with real-world results.

GiveWell: Maximum Impact Fund

The MUNCH Project raised & donated to GiveWell 738.87 ETH (Est. $2,700,000)

GiveWell is a charity that represents the principles of MUNCH and sets the highest standard for our charity selection procedure. By going to the Maximum Impact, GiveWell’s research suggests that this money will go towards saving over 600 lives. You can watch a video from GiveWell explaining the impact of these donations here.

The Yellow Brick Road Project

The MUNCH Project raised & donated to Yellow Brick Road Project 134.37 ETH ( Est. $467,610,89 )

The next cause supported by MUNCH highlights the power of community to shed light on untold stories.

The Yellow Brick Road Project is a charitable foundation with a mission to fund research to identify, understand, treat, and ultimately cure those impacted by HNRNPH2 mutations.

Their work aims to identify more individuals with HNRNPH2 mutations, connect families impacted by HNRNPH2 in order to contribute to the understanding of the disorder.

In 2020, the YBRP awarded its first research grant at a cost of $420,000. After making the first 3 payments, the project was struggling to raise additional funds. MUNCH’s donations amounted to $320,000 enabling them to continue their research project and giving them funds to explore other research avenues and enhance the lives of people affected.


charity: water

The MUNCH Project raised & donated to charity water 91.04 ETH (Est. $315,469,08)

charity: water is a non-profit organization bringing clean and safe drinking water to people in developing countries. Founded in 2006, they have the ambitious goal of ending the global water crisis through sustainable, community-led water projects.

 

Since their inception, charity: water has funded 64,999 water projects, across 29 countries, helping over 12 million people gain access to clean water.

On average, it costs $40 to bring clean water to one person. MUNCH’s contributions will fund more than 30 water projects, providing lasting access to clean, fresh water for entire communities. MUNCH became the first official crypto partner of charity: water, joining companies such as Google.

 

Save the Children

The MUNCH Project raised & donated to Save the Children 31.55 ETH ( Est. $132,139.54 )

Thanks to their long history and wealth of experience, Save The Children operates with a very efficient financial model. When you give to Save the Children, 85% of every dollar goes straight to lifesaving relief to children.

This means $50 can provide enough food to keep 3 children from going hungry for a month. The money provided by the MUNCH community will make a significant impact in the formative years of hundreds of people.

“We are proud to worked with, and have been able to support these wonderful projects and are delighted to see the positive actions made possible through crypto.”

Next up: The Manny Pacquiao Foundation

The next charity supported by the MUNCH project will be the Manny Pacquiao Foundation, as voted for by our community. The foundation supports front line efforts to reduce inequality and inequity across the world. Since launching the vote on October 31st, the MUNCH project has already donated close to 20 ETH!

Connecting crypto to causes with the MUNCH Charity Circle

As the leader in the crypto donation space, the MUNCH Charity Circle also enables any crypto project to donate to the cause we connect with. MUNCH utilizes their relationships with established charities to attract other projects, establish communication, technical onboarding, and verification processes to help other crypto projects donate in a trustless, fungible, and verifiable way.

MUNCH has already welcomed many projects to the Charity Circle, including Kishimoto Inu, Safemoon Inu, Kingdom X100 and BankEth. Donations from these projects through the Charity Circle now total close to 30 ETH.

You can read more about the MUNCH project here.

Contact: [email protected]

 


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.

Largest Stablecoin by Market Cap Tether Launches on the Avalanche Network

Largest Stablecoin by Market Cap Tether Launches on the Avalanche Network

The largest stablecoin by market capitalization, tether has announced the launch of tethers on the Avalanche blockchain protocol. The stablecoin tether has launched a myriad of blockchain networks and today there’s more than 74.8 billion tethers in circulation today.

Tether Launches on Avalanche

On Wednesday, Tether Operations Limited, the firm that issues the stablecoin asset tether (USDT) has announced the launch of USDT on Avalanche (AVAX). The crypto exchange Bitfinex has also revealed it will support Avalanche-native USDT tokens on the exchange.

Avalanche (AVAX) is a smart contract platform that is both compatible and a competitor of the blockchain protocol Ethereum (ETH). “Tether’s token’s launch on Avalanche will aim to support the long-term growth and sustainability of the Avalanche network while driving stablecoin usage across the defi ecosystem,” the company explained on Wednesday.

USDT on Avalanche is an essential building block for DeFi users,” Emin Gün Sirer, the director of the Avalanche Foundation explained in a statement. “Tether has become a well-accepted, time-tested stablecoin with extensive support throughout exchanges. It will be even more powerful with Avalanche as its foundation,” the Avalanche Foundation director added.

Over the last 30 days, the native asset on the Avalanche chain (AVAX) has increased in value by 59.9%, and year-to-date, AVAX has swelled by 2,554% in value. Statistics from defillama.com’s defi dashboard show Avalanche has $10.45 billion total value locked in defi protocols today.

Tether’s reserve transparency page notes that as of November 10, 2021, there’s approximately 74,863,439,905 tether (USDT) in existence. “We’re excited to launch USDT on Avalanche, offering its growing and vibrant community access to the most liquid, stable, and trusted stablecoin in the digital token space,” Paolo Ardoino, the CTO at Tether remarked during the announcement.

Tether is already issued on blockchain networks such as Omni Layer, Ethereum, Algorand, Bitcoin Cash, EOS, Liquid, Solana, and Tron.

“For those who believe in the development of Layer-1 blockchain platforms Avalanche represents an evolved project that boasts Ethereum Virtual Machine compatibility and could be an essential driver for developers looking to port decentralized applications over from Ethereum,” Ardoino added.

The second-largest stablecoin by market capitalization, usd coin (USDC) also has plans to be issued on a myriad of different blockchain networks. USDC has a market valuation of around $34.6 billion and there’s $145 billion in stablecoins today.

Both tether (USDT) and usd coin (USDC) dominate the market in terms of market capitalization. Today, the tethers in circulation represent 51% of the $145 billion stablecoin economy.

What do you think about the stablecoin tether (USDT) launching on the Avalanche network? Let us know what you think about this subject in the comments section below.

Record Producer Steve Aoki and Spawn Creator Todd McFarlane to Launch Solana-Powered NFT Market

On November 9, the two-time Grammy-nominated producer and DJ, Steve Aoki, announced a new partnership with the popular comic book artist and Spawn creator Todd McFarlane. The two plan to launch a non-fungible token (NFT) marketplace that leverages the Solana blockchain. The NFT marketplace will be called Odd Key and Aoki and McFarlane aim to launch the platform on November, 18.

Grammy-Nominated DJ and Spawn Creator to Launch NFT Marketplace Called Odd Key

Next week on November 18, the DJ Steve Aoki and comic book artist Todd McFarlane will be launching an NFT marketplace “designed to empower creators to showcase and sell authenticated digital art.” The launch announcement sent to Bitcoin.com News explains that the new NFT marketplace will be named Odd Key and one of the first drops on the platform will be McFarlane’s notorious “Spawn #1” from 1992.

That was the year McFarlane helped form the firm Image Comics and the Canadian comic book creator’s first issue of Spawn sold close to 500,000 copies worldwide. “Spawn #1” is one of the largest monthly title releases from Image Comics in 25 years.

“This will be the first time in 30 years that Todd McFarlane has authorized or authenticated any original art for sale, digital or otherwise, and the first time Spawn original art will be made available to the public,” statements sent to Bitcoin.com News disclose.

Furthermore, following the initial launch, different sections of the marketplace will go live and the market will have a featured artist section and a section for lesser-known artists called “Artist Alley.” The partnership announcement between McFarlane and Aoki explains that the Odd Key market was built off the “same mentality” McFarlane established with Image Comics.

“I wanted to create a world where creators create freely,” McFarlane remarked about Odd Key’s creation. “[A place] where creators could control their creative and financial freedom the way that I was able to,” the comic book artist added.

Odd Key Marketplace Aims to Leverage Solana Blockchain and Metaplex Protocol

Steve Aoki has been involved with non-fungible token (NFT) assets for a while now and the producer and DJ sold his first NFT collection with Antoni Tudisco for $4.25 million on the platform Nifty Gateway. The announcement explains that similar to McFarlane, Aoki has strong roots as an independent creator and in 1996 he founded his indie record label Dim Mak Records.

“I think that Todd and I both see a bit of ourselves in one another,” Aoki said in a statement. “We are both outsiders who’ve somehow made it in a world of insiders. Recognizing that NFTs could empower young creators to carve their own paths to discovery and financial freedom, we wanted to provide a platform to help them reach their audience.”

The project further noted that the Odd Key storefront will be leveraging the Solana blockchain network and Metaplex’s decentralized protocol marketplace. NFTs minted via the Metaplex protocol will be stored on Arweave, a network that the creators call a “permanent hard drive built on two novel technologies.” The native tokens for the Solana (SOL) and Arweave (AR) blockchain networks have seen significant gains in 2021.

What do you think about Steve Aoki and Todd McFarlane launching an NFT marketplace called Odd Key? Let us know what you think about this subject in the comments section below.

1,000 Bitcoin From 2010 Worth $68M — Mystery Whale Returns Moving a String of 20 Decade-Old BTC Block Rewards

154 days ago, a mystery bitcoin mining entity spent a string of 20 block rewards from 2010 that sat idle for well over a decade. Our newsdesk has been investigating this bitcoin whale’s actions since catching the entity in 2020. Now after the June 9th appearance, on November 10, the mystery whale returned once again to spend another 1,000 bitcoin stemming from 20 block rewards mined more than ten years ago.

1,000 ‘Sleeping Bitcoins’ Worth $68 Million From 2010 Wake After a Decade of Hibernation

Last year, following the market carnage on March 12, 2020, otherwise known as ‘Black Thursday,’ Bitcoin.com News discovered a large whale spending 20 consecutive block rewards in a row stemming from blocks mined way back in 2010. From here, similar to Herman Melville’s Captain Ahab, our investigation led our newsdesk to discover a myriad of whale sightings, as large quantities of 2010 bitcoin (BTC) block reward strings were spent in 2020 and 2021 as well.

According to our timeline, the entity spent 20 decade-old bitcoin block rewards on March 12, 2020, October 11, 2020, November 7, 2020, November 8, 2020, December 27, 2020, January 3, 2021 (Bitcoin’s 12th anniversary), January 10, 2021, January 25, 2021, February 28, 2021, March 23, 2021, and June 9, 2021. Now, five months later, on November 10, 2021, the mystery whale has once again transferred 20 decade-old bitcoin block rewards, spending 1,000 BTC at block height 709,029.

The 1,000 bitcoins from 2010 transferred on November 10 were discovered by a Bitcoin blockchain parsing tool Bitcoin.com News leverages called Btcparser.com. The 20-block-reward spend took place on early Wednesday morning at a touch after 1:30 a.m. (ET). The transfer of the 1,000 so-called ‘sleeping bitcoins’ also followed the exact same patterns as the whale’s previous spends indicating that it is likely the same bitcoin mining entity.

These particular block rewards were mined in 2010 during the months of August, September, and October. Another similarity is the fact that this miner has spent the corresponding bitcoin cash (BCH) tied to the original 2010 bitcoin (BTC) addresses. The 1,000 BCH was transferred at Bitcoin Cash block height 713,430. The BCH was spent roughly an hour after the BTC was transferred and the bitcoinsv (BSV) tied to the coins remain idle. The mystery 2010 mining whale has followed this routine during every single 20-block-reward string spend.

Whale Is Possibly Transferring to an Escrow Account or Coins Could Be Held as ‘Virgin Bitcoins’ for VIP Exchange Clients

Furthermore, the whale then consolidated the 1,000 BTC into one address (just like all the times before) and the coins are then distributed into wallets with 10 BTC each. The whale also consolidated the 1,000 BCH and then the coins were split into batches of 50 BCH per wallet. Speaking with Bitcoin.com News, the creator of Btcparser.com believes the coins might be going to an escrow account. “That P2SH address looks like an escrow account,” he said. “When bitcoins are received, the previous owner gets paid and later the new owner begins his distribution among many 10 BTC wallets,” the onchain researcher added.

The distribution also looks like the coins could have been transferred to an exchange. On January 27, 2021, Bitcoin.com News and other onchain researchers assumed it was possible that Coinbase was the final receiver of these ‘forgotten bitcoins’ from 2010. Essentially, the batches of 10 BTC could be held by an exchange and referred to as “pockets for withdrawal.”

The coins could possibly be held for the crypto exchange’s VIP user base as the coins are considered ‘virgin bitcoins.’ There’s been a longstanding rumor that ‘virgin bitcoins’ can fetch a premium of more than 20% above the spot price. ‘Virgin bitcoins’ are coins that have been mined but have never been associated with other transactions and bitcoins tethered to unfavorable actions.

The cryptocurrency community has no idea who the 2010 miner is but it is quite clear the entity mined a great quantity of bitcoin in the early days. Today’s transaction of 1,000 so-called ‘sleeping bitcoins’ was worth $68.4 million at the time of transfer and the bitcoin cash (BCH) spend was worth $712,070.

It’s also worth noting that the terms “spent” or “spend” in this article, do not necessarily mean that the bitcoins were “sold” to a third party for fiat or another crypto asset. The string of 20 block rewards and the 1,000 bitcoins sifted into wallets with 10 BTC per wallet could very well still belong to the original owner.

What do you think about the 2010 mining entity that has been spending 20 block rewards with 1,000 bitcoin in strings? Let us know what you think about this subject in the comments section below.

Iran Continues Crackdown on Illegal Crypto Mining, Seizes Hundreds of Mining Rigs

Iran Continues Crackdown on Illegal Crypto Mining, Seizes Hundreds of Mining Rigs

Authorities in Iran persist with their efforts to curb unauthorized cryptocurrency mining. The state-run power distribution company has recently identified over a dozen underground crypto farms in Tehran and other regions, unplugging hundreds of mining units illegally connected to the grid.

Power Utility Busts 14 Crypto Farms in Homes Across Iran

The Iranian government continues to crack down on unlicensed crypto mining operations. The state-owned Iran Power Generation, Distribution and Transmission Company, Tavanir, has confiscated 227 mining rigs last week. Its employees found the devices in 14 illegal cryptocurrency farms set up by households in different parts of the country.

The mining machines were found in homes during inspections carried out by Tavanir, the utility announced, quoted by Ibena news agency and the English-language business daily Financial Tribune. The coin minting facilities were discovered in the provinces of Tehran, East Azerbaijan, Isfahan, and Khuzestan, the reports unveiled.

Cryptocurrency mining has become a popular source of additional income for a growing number of Iranians. The government legalized the activity in 2019. Entities who would like to operate coin minting data centers need to obtain a permit from the Ministry of Industries and over 50 companies have already done so.

While registered mining businesses are required to pay for the power they use at higher, export rates, private consumers in Iran have access to subsidized household electricity. The available cheap energy and the rising prices of cryptocurrencies in the past year have led to illegal mining farms cropping up across the Islamic Republic.

Both authorized and underground crypto miners have been largely blamed for electricity shortages this summer, when the extraordinarily hot weather increased power demand. In May, authorities imposed a temporary ban on all cryptocurrency mining to reduce the power deficit. Then, in August, Tavanir announced it would lift the restrictions for licensed miners on Sept. 22 when temperatures began to drop.

The power company seizes all the equipment from illegal miners and the prosecutor-general’s office recently banned the release of confiscated hardware until the Iranian parliament decides how to treat unregistered crypto farms and their operators. So far, Tavanir has taken hold of 221,390 mining devices and shut down 5,756 illegal mining facilities. Their owners face fines for damages inflicted on the national distribution network.

According to official estimates provided by the Iranian power utility, crypto farms authorized by the Industries Ministry currently consume around 400 megawatts (MW) of electricity. At the same time, unlicensed miners have been accused of burning almost 2,000 MW daily.

Tavanir has warned about possible power cuts during the winter months when electricity demand increases again amid an ongoing pressure exerted on the national grid by illegal mining operations. “Rising demand for electricity by unauthorized crypto miners is likely to cause blackouts this winter when gas consumption too is at peak as happened in summer,” the company explained. It also complained that current penalties are not tough enough to discourage illegal miners and called for stricter measures.

Do you think Iranian authorities will manage to limit unauthorized mining? Share your thoughts on the subject in the comments section below.

Happy Hippos NFTs: A Pioneer Collection Drop

Non-fungible tokens (NFTs) are a unique data unit contained within a digital ledger and cannot be interchanged. They are used as a representation of items that can be reproduced easily like artwork, images, videos, and audio files, among other digital files. NFTs are unique in their own way, using the blockchain technology in building a verified and accessible certificate of ownership.

Happy Hippos are a class of AI-generated NFTs randomly produced via a programmed mechanism and base on based on the Ethereum blockchain.

The Hippos have been developed from more than one million varieties to sample a first generation collection of 8888 Hippos.

About the Hippos

The Hippos are found in Africa where they are Happy and co-exist in Harmony. Nonetheless, as this class of Hippos is fast a threatened species fast going extinct, they await to be adopted by willing individuals.

While the Hippos are generally wonderful to own, they each stand out for their own physical appearance. The best of these Hippos are the ones displaying a more packaged look, such that they have additional qualities such as the presence of a beard, having a hat on, and have worn a costume and a set of glasses.

Every purchase made of a Happy Hippos NFT leads to the platform donating to a wildlife organization in the name of the buyer. The donations are part of efforts to protect the Hippos as they live in their natural habitat. At the same time, the owner of the respective Happy Hippos NFT is awarded a formal adoption certification of an actual Hippo. This brings the concept of types of Hippos.

Types of Hippos

There are five different types of Hippos, depending on the number of distinguishing attributes they display. In this regard, we have:

Type of Hippo Number Number of attributes Percentage composition
Common 3101 1 35%
Mythic 1780 3 20%
Legendary 888 More than 3 10%
Rare 3101 2 35%
Unique 18

 

The Happy Hippos project is focused on giving back to the community and making them a part of the system. To this end, the platform maintains openness for on-boarding anyone who wants to be part of the debate. Joining the Happy Hippos ecosystem positions a Hippo owner to stay current and informed about all there is and what is to come. It also positions them to be able to give ideas and input about how the project can be developed.

There are a lot of plans that are still underway for the Happy Hippos. The plans are intended to maintain them in their happy state within their habitat in Harmony. Some of these future plans include integrating the concept of breeding and commissions, just to name a few.

While efforts to make for an ever greater future for the Happy Hippos are in place, the input of users is very much necessary. The input can only be delivered if users are part of the discussions.

Owning a Hippo

Hippos can be accessed by buying them. When buying the Happy Hippos, buyers can use Crypto, PayPal, Credit Card, or Metamask to pay for what they purchase.

Once you buy a Hippo, the Happy Hippo NFT goes directly to the wallet address used in the purchase. After that, the Happy Hippos can be viewed on Infinity8.io. This avenue also provides a space for buying or adopting a Hippo. To do this, one must go through the registration processes on the Infinity8.io so that they have an account.

The first 1,000 individuals to sign up for an account on the above link are set to enjoy pre-sale benefits. This is because they are the only group of people that will be made aware about the date and time when the pre-sale kicks off. As the days approach, the notification will be delivered via email to the 1K account owners, giving them more information on what to do. This is within November.

Featuring among the first 1000 wallet or account owners secures a holder’s position on the whitelist for the pre-sale deals. Alternatively, players can go through the email [email protected] or engage developers through their twitter page.
A Happy Hippo holder enjoys many benefits and privileges. Among the things to enjoy include:

  • Access to on-oncoming pre-sales for scheduled projects even before they happen or launch. This is through the Infinity8.io platform.
  • Official certificates of adoption of wildlife Hippos that roam in Harmony together in Africa.

The list does not close here. It remains open as discords are still underway to increase the number of privileges to be enjoyed.

Pre-sale privileges

Pre-sale involves setting aside a few Happy Hippos to be sold before the actual date. It provides an effective marketing strategy as those who take advantage of such events get to enjoy better prices compared to those who will buy on the actual unveiling. With this in mind, it is worth noting that for pre-sale sales, The Happy Hippos go for 0.06. This is 0.028 less compared to the 0.088 price quote set for the public sale for individual Hippos.

The concern of Infinity8.io gas prices

The concern of abnormal price surges on the Infinity8.io platform as days draw near is valid. As it stands, Happy Hippos NFTs gas prices are the least across the entire table of non-fungible tokens operating on ETH blockchain. These NFTs go for between $3 and $50.

Additionally, no extra fees are charged beyond the gas fees. This makes Happy Hippos a more cost friendly project compared to other industry players.

Happy Hippos is set to be the first collection drop to feature on Infinity8.Io, hence the need to develop a very powerful Happy Hippo community. Key enablers for community engagement include social media platforms such as Twitter. Discord will also be an enabler as it will facilitate discussions and sharing of ideas.

As part of their philanthropic strategies, Happy Hippos developers at Infinuty8 strive to associate with recognized charity foundations. They also provide frequent giveaways to platform users.

Inaugurating the project

Happy Hippos NFTs project is scheduled for unveiling during the early days of November. No specific date or time has been provided yet, a strategy meant to keep the prospective community keen in anticipation. The official launch of the first Happy Hippos drop is certainly historical and will be a grand event.

As Twitter and Discord are the outlet points for any information, and in light of the pre-sale privileges, this is going to be a competition to start 48 hours prior to the public sale. Recipients of the privileges will certainly be the attentive lot.

There is also going to be a mid-drop celebration once the sales hit 25%. At that point, up to 25 Happy Hippos will be distributed to random wallets alongside 0.08888 Ethereum sent to five Happy Hippo holders at random.

At the 50% sales mark, 50 additional Happy Hippos will again be offered at random alongside 0.08888 ETH to 10 other Hippo holders randomly. The same will be done at the 75% mark. Once every Happy Hippo has be sold (100% mark), there will be One Special Happy Hippos giveaway to a single wallet and 0.8888 Ethereum to another single lucky holder.

Milestone (% Sold) Reward 1 Reward 2
25% 25 Happy Hippos to random wallets 0.08888 ETH to 5 random holders.
50% 50 Happy Hippos to random wallets 0.08888 ETH to 10 random holders
75% 75 Happy Hippos to random wallets 0.08888 ETH to 10 random holders.
100% 1 Special Happy Hippos to 1 random wallet 0.8888 Ethereum to 1 lucky holder.

 

Post-sale developments

The Infinity8.io platform is also planning to develop a One Million Dollar Creator Fund in appreciation for the amazing work done developers. The funds will draw from royalties and mint sales and will be channeled towards supporting developers and the projects they work on for the good of their entire community.

Ultimately, there will be an Official Happy Hippos Safari Experience in Africa. This opportunity will be up for grabs, to be won by one Happy Hippo Holder in a competition. Every Happy Hippo Holder will take part in this competition.

December gifts

Closing the year in style, Infinity8.io is also set to debut with a brief Cartoon & Coloring Book to be given to individual Happy Hippos Holders. The gifts are not for the adult holders, but for their children in the festive season of Christmas. There is also going to be other merchandise to be given out, including Happy Hippos shirts, hats, stickers, and hoodies, among others, and only the watchful will get these giveaways.


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Nigerian Central Bank Intensifying Fight Against Cryptocurrency Traders

Just a few days after launching the e-naira digital currency, the Central Bank of Nigeria (CBN) is now reportedly ramping up the pressure against cryptocurrency traders.

Bank Employees Warned

In a memo to its staff seen by Bitcoin.com News, one of Nigeria’s leading banks, FCMB, warns its employees against aiding cryptocurrency traders. The bank reveals that any account that is found to be in violation of the CBN directive will be closed.

In addition, FCMB said employees that willfully fail to disclose the existence of an account that is involved in cryptocurrency trading will also be punished. According to the memo, all FCMB employees are now expected to be involved in the monitoring of accounts, transactions, and customers in order to ensure the bank is fully complying with the CBN directive.

Meanwhile, in order to help employees easily identify accounts that are used by cryptocurrency traders, FCMB has produced and shared a list of 20 red flags to look out for. Some of these red flags include bank accounts that receive high daily inflows from a huge number of payees, and accounts operating as bureaux de change without a license from the CBN.

CBN Ratcheting Up the Pressure

In another sign that the CBN is ratcheting up the pressure, a letter supposedly authored by the central bank directs all banks to close accounts belonging to Nnamdi Francis Okereke and Nwaorgu Kingsley Chibuzor. In the letter, which began circulating on social media just over a week after the e-naira launch, the CBN claims the accounts are being used for cryptocurrency trading and this violates the central bank’s February 5 directive.

The same letter similarly asks banks to close accounts belonging to TVS Hallmark Service and to place the funds in a suspension account.

Nigerian Central Bank Intensifying Fight Against Cryptocurrency Traders

Reacting to these reports in a tweet, Senator Inhenyen, who is the president of the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN), called the CBN’s action “unduly discriminatory and unconstitutional.” Inhenyen argues that only the Nigerian legislature has the authority to act against cryptocurrencies. He explained:

“This is not regulation but oppression. Where is the National Assembly of Nigeria? The central bank’s action is ultra vires. This has to stop. We are not in a lawless country. Only the National Assembly can illegalize cryptocurrency.”

What do you think is behind the CBN’s renewed efforts to block cryptocurrency traders? Tell us what you think in the comments section below.

Russian Officials Back Idea of Recognizing Crypto Miners as Entrepreneurs

Russian Officials Back Idea to Recognize Crypto Miners as Entrepreneurs

Cryptocurrency mining should be recognized as an entrepreneurial activity under Russian law and taxed accordingly, representatives of key ministries in Moscow and the parliament have indicated. Officials believe the regulatory move would benefit both the state and the crypto industry.

Russian Government to Collect Millions of Dollars in Taxes After Legalizing Crypto Mining

While the law “On Digital Financial Assets” — which entered into force in January this year — regulates certain crypto-related activities such as “digital currency issuance,” it does not explicitly mention cryptocurrency mining. The sector remains unregulated, the Russian Ministry of Finance has recently acknowledged in comments to the local press. The industry has been expanding in Russia which is rich in energy resources and ranks among the world’s top destinations in terms of share of the global hashrate.

According to the Ministry of Economic Development, Izvestia wrote in an article, mining should be regulated precisely as an entrepreneurial activity as it fits in the legal definition provided in the Civil Code. It emphasized this would allow the government to tax miners’ revenue and increase budget receipts. Alexey Minaev, deputy director of the ministry’s Digital Economy Development Department, told the Russian daily:

This is exactly an area in which the state can benefit in the form of taxes, and people can legalize their income, big business is also becoming more and more interested in this.

Valery Petrov, vice president for market development and regulation at the Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain (Racib), noted that miners rarely return the proceeds from minted cryptocurrency to Russia as they find it difficult to prove the funds have been obtained legally.

The annual revenues from the mining of bitcoin (BTC) alone have been estimated at $19.7 billion, with Russia accounting for around 12% of the total amount, or $2.4 billion. Petrov claims the Russian Federation has lost millions of dollars in recent years due to the failure of the government to regulate and tax the business.

The idea of recognizing mining as an entrepreneurial activity has been backed by the Ministry of Energy, which thinks this would allow authorities to distinguish between electricity consumption for private and corporate use. The move has also won support in the State Duma, the lower house of parliament, where the chairman of the important Financial Market Committee, Anatoly Aksakov, called for such a solution back in September.

While admitting that mining is not prohibited even now, the lawmaker pointed out that its taxation is not clear yet. Aksakov also suggested that it’s worth considering raising electricity tariffs for cryptocurrency miners as they currently buy power at regular rates. The deputy noted that most entities in the sector don’t pay any taxes at the moment and added that large mining enterprises would like to be legalized.

True to its hardline stance on decentralized digital money, the Bank of Russia has stated that it does not support any initiatives that promote the emergence of “monetary surrogates,” a term it often uses to describe cryptocurrencies. The central bank opposes their legalization in the country and maintains that the ruble is the only legal tender under Russian law. The Finance Ministry insists, however, that the legal status of crypto mining should be determined as part of the rules pertaining to the circulation of digital currencies.

Do you think Russia will adopt business-friendly regulations for its growing crypto mining industry? Share your expectations in the comments section below.

Brave Browser to Integrate Solana Support

Brave

Brave, the company behind the Brave browser, has partnered with Solana to provide support for the blockchain directly from its browser. According to a press release, the Brave browser will now default to Solana for cross-chain and decentralized app support. Brave users, that are now in the millions, will have access to a Solana wallet within the app. This feature is expected to roll out during the first half of 2022.

Brave Partners With Solana to Offer Dapp Support

Brave, the company in charge of the development of the Brave browser, a leading privacy-first web browser, has announced it is partnering with Solana, a top five smart contract enabled cryptocurrency, to offer support for Solana-based apps directly from the browser. The announcement was made during Solana’s Breakpoint conference, where Brave’s CEO Brendan Eich praised the scalability and functionality that Solana would offer for Brave users.

At the event, Eich stated:

With more and more users and creators requiring tools for fast and affordable access to the decentralized Web, this integration will seamlessly pave the way for the next billion crypto users to harness applications and tokens.

Brave’s 46 million users will soon have access to Solana support by default. Brave will keep supporting the Ethereum ecosystem, but with this integration, it is clearly taking a chain agnostic view, and it intends to keep integrating support for other chains in the future.

Scalability and Brave’s Themis Protocol

Solana has been one of the most prolific ‘Ethereum killer’ tokens on the market, seeking to take advantage of Ethereum’s weaknesses and high fees due to its inability to scale. Its token, launched less than two years ago, is already in the top five cryptocurrencies rated by market cap.

Its ability to manage more transactions with lower fees is one of the reasons for this. Brave mentions that “transaction fees seen on Ethereum (due to increased interest in crypto and DeFi) have held some users back from transacting.” The new partnership aims to open the possibility for more people to use Brave’s platform combined with Solana’s low-fee environment. Still, it is important to note that Solana itself has not been exempt from its own criticisms.

The perceived benefits of Solana are likely one of the reasons that Brave is offering support for the network, pivoting from its Ethereum-only approach. Another reason is that the browser will implement Themis protocol, one of the most important aspects of Brave’s roadmap, on top of Solana. In exchange, Solana will encourage developers to use BAT on Solana-based dapps.

What do you think about Brave’s partnership with Solana? Tell us in the comments section below.