Daily Archives: November 15, 2021

CoinFLEX’s Stablecoin flexUSD Now Available to Hundreds of Financial Institutions With Copper ClearLoop Integration

PRESS RELEASE. SEYCHELLES, 15 November 2021CoinFLEX, leading crypto exchange and yield platform, has partnered with Copper.co, a global digital asset custodian and trading solutions provider by integrating with their ClearLoop instant settlement trading network.

The partnership expands CoinFLEX’s crypto yield products to more institutional investors globally, starting with flexUSD, the world’s first interest-earning stablecoin. This partnership will help accelerate flexUSD to a US$1 billion market cap by Q1 2022. flexUSD is currently paying 16% APY and has distributed $11 million in interest to holders over the past 12 months.

The partnership will enable Copper’s 300+ institutional asset managers to trade flexUSD on CoinFLEX while securely storing their assets offline and off the exchange. The integration with ClearLoop adds an extra layer of regulatory assurance for institutional investors, while providing more crypto trading options to Copper’s clients. ClearLoop connects exchanges like CoinFlex to traders and custodians – enabling one, secure trading loop, with instant settlement. Investors can settle digital currency transactions off-exchange – eliminating the need to deposit and withdraw assets from an exchange in real-time, securely maximizing capital efficiency.

“We are excited for this partnership with CoinFLEX, and for our client base to trade and earn from a crypto yield offering such as flexUSD,” said Dmitry Tokarev, Founder and CEO, Copper.co.This directly aligns with our commitment to ensure that institutional investors are offered a wide range of quality crypto products and can trade efficiently and securely on the Copper network.”

For the first time, Copper’s institutional clients can access a highly liquid, easily redeemable, yield-generating stablecoin via the Copper platform.

This integration is inline with CoinFLEX’s efforts to advance expansion plans for greater institutional user adoption. This symbolizes the exchange’s commitment to amplify liquidity and innovate, develop, and strengthen the CoinFLEX ecosystem.

CoinFLEX Q4 2021 key milestones

  • October 2021: CoinFLEX reached US$8 billion in daily trading volume with open interest exceeding US$ 350 million
  • November 2021: CoinFLEX’s total repo market volume exceeds US$300 billion, pushing flexUSD’s market cap to US$380 million

“Joining ClearLoop marks a major milestone for CoinFLEX as we begin to push our business expansion plans to increase institutional users,” said Mark Lamb, CEO of CoinFLEX. “By enhancing the adoption of flexUSD through trading activities, it will also propel the credibility and increase the utility of the stablecoin across institutional users including hedge fund and asset managers whilst ensuring that they have a highly secure way of interacting with us.”

About Copper

Founded in 2018, Copper helps bridge institutions into crypto by offering custody, prime brokerage, and settlements across 250 digital assets and more than 40 exchanges. Copper’s unique crypto products and multi-award-winning custody allows clients to safely acquire, trade, and store cryptocurrencies, including access to margin lending trading facilities and the DeFi space.

ClearLoop is at the core of Copper’s infrastructure and connects a broad network of exchanges together in one secure trading loop and with instant settlement across networks.

About CoinFLEX

Founded in 2019, CoinFLEX is the Home of Crypto Yield and is committed to providing institutional and retail investors an easily accessible platform to earn and trade crypto.

CoinFLEX creates innovative solutions to bring investors and crypto markets together through intuitive yield products such as flexUSD, the world’s first interest-earning stablecoin, and AMM+, the most-capital efficient automated market maker in the world. CoinFLEX is backed by crypto heavyweights, including Roger Ver, Mike Komaransky, Polychain Capital, and Dragonfly Capital.

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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.

Bitcoin Hashrate Nears All-Time High Captured in May — BTC Mining Rigs Produced in 2016 Still Profitable

Bitcoin Hashrate Nears All-Time High Captured in May — BTC Mining Rigs Produced in 2016 Still Profitable

While bitcoin’s value has remained well above the $60K range, the network’s hashrate has surged to over 184 exahash per second (EH/s) as mining devices are far more profitable at these prices. The price has made it so that older generation mining devices manufactured over four years ago, with processing power of more than 8 terahash per second (TH/s), can make a daily profit mining the leading crypto asset.

Bitcoin Hashrate Follows Ethereum’s Hashrate Toward All-Time Highs

On November 15, 2021, Bitcoin’s hashrate climbed to 184 EH/s gathering 17.19% more hashpower than the network saw a mere two days ago on November 13. Bitcoin’s (BTC) hashrate is getting close to nearing its all-time high (ATH), which was recorded on May 9, 2021, at 191 EH/s. Today’s Bitcoin hashrate metrics show that the hashpower is only 3.8% away from surpassing its ATH, according to coinwarz.com data.

In addition to BTC’s hashrate nearing ATH, the second-largest crypto asset in terms of market valuation, ethereum’s (ETH) higher prices have also propelled its network hashrate. At 932 TH/s, Ethereum’s hashrate is awfully close to a single petahash per second or 0.001 EH/s. Ethereum’s hashrate has already reached an ATH and has continued to soar higher, capturing new records.

It’s worth it for miners to mine ether in comparison to BTC, as ETH is the third most profitable network to mine. At press time, the most profitable ether mining rig the Innosilicon A11 Pro that produces 1,500 megahash per second (MH/s) or 0.0015 TH/s can rake in $109.29 per day. The profit estimate stems from asicminervalue.com using today’s ether exchange rates and $0.12 per kilowatt-hour (kWh) in electric consumption.

Using Today’s Exchange Rates, Top 3 Bitcoin Miners Make $36 per Day — Bitcoin Miners Manufactured Over 4 Years Ago Still Profit

The profits for the ether mining rigs are larger than BTC’s mining profits stemming from the most profitable application-specific integrated circuit (ASIC) mining devices. Three SHA256 compatible miners on the market today, however, can command $36 per day in profits using $0.12 per kWh in electric consumption and today’s BTC prices.

The Microbt Whatsminer M30S++, the Ipollo B2, and the Bitmain Antminer S19 Pro are today’s most profitable BTC miners on the market, according to stats from asicminervalue.com. All three models boast hash speeds at over 100 TH/s. The Canaan Avalonminer 1246 which boasts 90 TH/s produces an estimated $27.55 per day using today’s exchange rates. Furthermore, besides the top mining devices pulling in the highest profits, old school miners from 2016 are now profiting.

For instance, using $0.12 per kWh in electricity per day and today’s BTC prices, a Bitmain Antminer R4 (8.7 TH/s) can get at least $1.18 per day. The R4 mining rig was produced in 2017 and the popular Bitmain Antminer S9 (11.5 TH/s), manufactured over four years ago can get up to $1.53 per day with electrical rates at $0.12 per kWh.

What do you think about the recent mining action and Bitcoin’s hashrate climbing to 184 exahash per second? Let us know what you think about this subject in the comments section below.

Wall Street Journal Reporter Chastised Over Satoshi Nakamoto ‘Unmasking’ Editorial

During the last week, mainstream media outlets have been publishing reports that say “Bitcoin’s creator Satoshi Nakamoto could be unmasked at [a] Florida trial.” Alongside this, the name “Satoshi Nakamoto” has been trending in people’s discussions on social media for the last few days as well.

The Internet Is Buzzing Over Conversations Concerning Bitcoin’s Mysterious Creator

Last week, the long-awaited Kleiman v. Wright trial started in Florida and the court case has sparked significant interest from mainstream media publications like Fox News, the Daily Mail, and the Wall Street Journal. Vertical trends on Twitter also indicate that the name “Satoshi Nakamoto” has been in the midst of many conversations this week. Since October 2, interest in Bitcoin’s creator has increased 48.71%, according to Google Trends’ search query score for the topic “Satoshi Nakamoto.”

The aforementioned media publications have been asserting in a few editorials that the Florida trial could uncover the very identity of Satoshi Nakamoto. The Kleiman family and Ira Kleiman, the brother of the now deceased, computer forensics expert, Dave Kleiman, believe their Dave’s fortune was manipulated. The Kleiman estate accuses Craig Wright of perpetrating “a scheme against Dave’s estate to seize Dave’s bitcoins and his rights to certain intellectual property associated with the Bitcoin technology.”

Speaking with the Wall Street Journal’s (WSJ) Paul Vigna, the Kleiman’s family attorney Vel Freedman explained the plaintiffs think they have a strong case against the self-proclaimed Bitcoin inventor, Craig Wright. “We believe the evidence will show there was a partnership to create and mine over one million bitcoin,” Freedman told Vigna.

Skeptics Criticize Media Reports That Discuss a So-Called Unmasking

After the WSJ reporter shared the story on Twitter, Vigna was berated for giving Wright’s story publicity. Wizsec Bitcoin Research, a group of researchers that have criticized Wright’s story on various occasions in the past, called Vigna’s WSJ editorial “irresponsible.”

“The way you air their claims while willfully leaving out or downplaying the proven lies, forgery and fraud is beyond irresponsible,” Wizsec said to Vigna on Twitter. “You are knowingly introducing your readers to a scam without properly warning them that it’s a scam. Any future victims among them are on you.” Another person wrote to Vigna and asked:

Whatever happened to fact-checking?

Wright’s Backers Believe the High-Profile Court Case Will Settle Matters

Meanwhile, Wright’s believers and bitcoinsv (BSV) proponents wholeheartedly believe this case will settle matters once and for all. One ardent follower wrote: “Dr. Craig Wright is Satoshi Nakamoto — BSV is the Real Bitcoin.”

On November 15, the gambling tycoon and billionaire Calvin Ayre tweeted that the news is getting out about the Florida trial, and shared an editorial written by Fox News called: “Bitcoin creator Satoshi Nakamoto could be unmasked at Florida trial.”

“Message of the Satoshi trial is leaking out and there will be a big audience for the full history of Bitcoin being rolled out now under oath in Florida,” Ayre wrote on Monday.

Wright Continues to Argue Under Oath That He Alone Invented Bitcoin — Wright’s Detractors Still Don’t Believe Him

So far, the case has revealed a few interesting things as the court officials and lawyers have been told that Wright has autism spectrum disorder (ASD). Despite attempts from the Kleiman side to make this inadmissible, it was decided the jury would deliberate on the matter. Wright continues to contest that he invented Bitcoin on his own and Dave Kleiman was not a partner while he created the technology.

Furthermore, the artist known as “@Fractalencrypt” has transcribed Wright’s statements on day seven of the trial. Fractalencrypt’s long Twitter thread started at the end of day six and has been very popular. According to Fractalencrypt’s transcription, in the face of many documents, Wright continued to contest throughout the trial that Kleiman was a friend, but not the co-creator of Bitcoin.

What do you think about the Kleiman v. Wright trial and the discussions surrounding this case on social media? Let us know what you think about this subject in the comments section below.

Indian Parliament Committee Discusses Crypto Regulation With Industry Experts

India’s parliamentary committee on finance has held a meeting with representatives from the crypto industry and other stakeholders on cryptocurrency and its oversight. “There was an understanding that cryptocurrency can’t be stopped but it must be regulated” and “There was a consensus that a regulatory mechanism should be put in place to regulate cryptocurrency.”

First Parliamentary Meeting Dedicated to Crypto With Stakeholders and Industry Experts

India’s Standing Committee on Finance held a meeting with representatives from the crypto industry Monday. This was India’s first-ever parliamentary discussion of the broad subject of crypto finance involving the industry.

According to a notice posted by Lok Sabha Secretariat, the official agenda of the meeting circulated to members of parliament was to hear the views of associations and industry experts “on the subject of ‘cryptofinance: opportunities and challenges.’” The meeting was chaired by BJP’s Jayant Sinha.

Sinha told news agency PTI ahead of the meeting:

We have called stakeholders from across the industry including operators of major exchanges, members of CII [Confederation of Indian Industry] as well as academics from the Indian Institute of Management (IIM) Ahmedabad, who have done a very thorough study on crypto finance.

According to reports, the representatives from the crypto industry include executives of crypto exchanges and members of the Blockchain and Crypto Assets Council (BACC). The meeting aimed to discuss the way forward for the crypto industry as well as crypto promotion in India.

The Outcome of the Meeting and the Need for Crypto Regulation

Following the meeting, sources told ANI publication:

There was an understanding that cryptocurrency can’t be stopped but it must be regulated … There was a consensus that a regulatory mechanism should be put in place to regulate cryptocurrency.

However, the publication added that industry associations and stakeholders were not clear as to who should be the regulator overseeing the crypto sector in India.

In addition, the security of investors’ money was the most serious concern expressed by parliament members at the meeting. One member of parliament stressed concern over full-page crypto ads in national newspapers.

Another parliament member pointed out that El Salvador is the only country to recognize cryptocurrency as legal tender alongside the U.S. dollar. “Experts said that cryptocurrencies are some sort of investors’ democracy,” the publication noted, adding:

Members of Parliamentary Standing Committee on Finance now want government officials to appear before them and address their concerns.

Recently, the governor of the central bank said that the Reserve Bank of India (RBI) has serious and major concerns regarding cryptocurrency. “Cryptocurrencies are a serious concern to RBI from a macroeconomic and financial stability standpoint,” said Governor Shaktikanta Das.

What do you think about the Indian parliamentary committee meeting with industry experts on crypto? Let us know in the comments section below.

Marathon Plans to Raise $500 Million From Convertible Senior Notes to Buy Bitcoin and Mining Rigs

Marathon Plans to Raise $500 Million From Convertible Senior Notes to Buy Bitcoin and Mining Rigs

On Monday, the enterprise bitcoin mining operation Marathon Digital Holdings announced the firm will raise $500 million from convertible senior notes in order to accrue more “bitcoin or bitcoin mining machines.”

Publicly-Listed Mining Operation to Raise $500M From Debt Markets to Purchase Bitcoin and ASIC Devices

Marathon (Nasdaq: MARA), is one of the largest U.S. mining operations and on November 15, the firm revealed it plans to utilize debt markets for “general corporate purposes, including the acquisition of bitcoin or bitcoin mining machines.” The news comes after significant growth during the course of 2021 and at the end of October, Marathon disclosed it had mined 417 bitcoin (BTC). With over $457 million worth of bitcoin held in its coffers, the 417 BTC revenue was considerably larger than the month prior.

“As in prior months, our bitcoin production was impacted by maintenance-related outages at the power plant in Hardin, MT and increases in the total network hash rate,” Marathon’s CEO Fred Thiel explained. “However, with shipments of our previously purchased miners accelerating over the coming months, we continue to expect our bitcoin production to become more consistent as we scale,” the Marathon executive added.

In a press release sent to Bitcoin.com News, the company said on Monday that it plans to issue “$500,000,000 aggregate principal amount of convertible senior notes” that will mature on December 1, 2026. The notes will obtain interest semi-annually unless they are “repurchased, redeemed or converted,” Marathon’s press release notes.

“Marathon intends to use the net proceeds from the offering for general corporate purposes, including the acquisition of bitcoin or bitcoin mining machines,” the company disclosed.

Marathon Shares Have Risen More Than 230% in 6 Months — After Controversy Ensued, Bitcoin Mining Firm Dropped OFAC Transaction Filtering in May

The U.S. company’s shares listed on Nasdaq have done well in recent times and Marathon has been holding BTC on its balance sheet like its mining competitors Argo, Hut8, Riot Blockchain, and Bitfarms. Six months ago, MARA shares were trading hands for $22.99 on May 18, and today shares swap for $75.92.

Bitcoin.com News reported on Marathon buying BTC for a reserve asset at the end of January following the company’s record-breaking acquisition of 70,000 ASIC bitcoin miners in December 2020. Marathon came under controversy this year when the enterprise mining operation mined its first OFAC-compliant block. It meant that at the time, Marathon was filtering transactions to be compliant with the Office of Foreign Assets Control’s (OFAC) sanction guidelines.

However, the company dropped this filtering procedure after it was well established that the Taproot upgrade would happen. Marathon said the company’s mining pool would “no longer filter transactions” and “begin validating transactions in a manner consistent with all other miners who use the standard node.”

Two months later, the firm revealed it purchased 30,000 S19j Pro Antminers from Bitmain and after it published July’s bitcoin production and mining operation it was revealed that Fidelity Investments owns a 7.4% stake in Marathon.

The latest financing proposal to leverage convertible senior notes indicates the firm continues to believe in the bitcoin mining industry’s exponential growth. At press time, Bitcoin’s hashrate has been once again nearing all-time highs and the current hashrate on November 15, is a whopping 181 exahash per second (EH/s).

What do you think about Marathon using debt markets to raise $500 million in order to acquire bitcoin and bitcoin mining rigs? Let us know what you think about this subject in the comments section below.

Alchemy Pay Integrates With TRON to Enable TRX Payment and Investment

Singapore, November 15, 2021 – The Tron Foundation (TRX), the world’s largest blockchain decentralized application operating system, and crypto-fiat hybrid payment solutions provider, Alchemy Pay (ACH), have announced a collaboration. Alchemy Pay will integrate the TRX token into its global crypto-fiat gateway. The partnership also further entails the support of Alchemy Pay by the Tron Foundation in the provision of technical resources, cross-community promotions, and other ecological development initiatives that will foster joint efforts between Alchemy and TRON ecosystems.

This partnership comes on the back of the successful test trading of TRX tokens through Bit.Store, a crypto investment platform powered by Alchemy Pay. Bit.Store is an intuitive crypto trading platform popular among new crypto investors with 500,000 users across Australia, Canada, Hong Kong, Indonesia, and the United Kingdom. The platform leverages Alchemy Pay’s fiat payment rails to enable direct fiat-to-crypto investment, including Visa, Mastercard, PayPal, and local payment channels such as OVO and Dana mobile wallets, and cross-border bank transfers.

In addition to enhancing TRX liquidity across investment platforms such as Bit.Store, Alchemy Pay will amplify the use cases of the TRX token by integrating TRX onto its payment system. This will allow TRX to be accepted as a form of payment across Alchemy Pay’s merchant network.

As part of the collaboration, Tron Foundation and Alchemy Pay will join the Blockchain Infrastructure Alliance – as founding members – which comprises a growing list of blockchain industry leaders, including crypto exchanges, stablecoin issuers, and DeFi platforms. The alliance will jointly promote and drive the growth and advancement of the cryptocurrency and blockchain space and act as an incubator for new projects. More information on Blockchain Infrastructure Alliance can be found at www.bia.network.

About TRON (TRX)

TRON (TRX) is the world’s largest blockchain decentralized application operating system, providing high-throughput, high-scalability, and high-reliability underlying public chain support for the operation of decentralized applications on the protocol. TRX has been listed on more than 130 exchanges, linking millions of value investors around the world, and is one of the world’s most valuable cryptocurrencies.

Website: http://Tron.network
Twitter: http://twitter.com/tronfoundation
Telegram: https://t.me/tronnetworkEN

About Alchemy Pay (ACH)

Alchemy Pay is the inventor of the world’s first hybrid fiat and digital currency gateway solution for businesses and investors. Alchemy Pay powers seamless crypto and fiat acceptance for merchant networks, developers, and financial institutions, and powers adoption of blockchain technology by making crypto investment and DeFi services readily accessible to consumers and institutions in the fiat economy.

Today, Alchemy Pay operates in 65 countries and regions and has touchpoints with more than 2 million merchants through partnerships with industry giants such as Binance, Shopify, Arcadier, QFPay and more.

Website: http://alchemytech.io

Twitter:http://twitter.com/alchemypay

Telegram:http://t.me/alchemy_official


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Cameroon to Hold Workshop Examining Challenges and Risks of Using Cryptocurrencies

The government in Cameroon, which is reportedly keen on regulating cryptocurrencies, is set to hold a workshop that will look at the challenges and risks of using such digital currencies in the country.

Proliferation of Scams

According to a report by Business in Cameroon, the workshop, which is set to be held on November 15 in Yaounde, is being organized by the Ministry of Posts and Telecommunications. At this meeting, participants are expected to review mechanisms that will help the government to regulate the cryptocurrency sector.

The ministry said the country’s lack of a regulatory framework, which has led to the proliferation of scams, had prompted the government to organize the workshop. The report also revealed that the ministry will not only highlight the importance of regulation but will seek to map out cryptocurrency actors present in Africa and in the national territory.

In addition, the ministry will attempt to use the meeting to estimate the extent to which the services offered by these actors are utilized, the report explained.

Electronic Money Regulation

According to a report published in December 2020 by Prime Law Office, Cameroon, which has a very small community of blockchain dealers, does not have a single law that regulates cryptocurrency. The only legal framework that regulates digital money, according to the report, is the Central African Economic and Monetary Community (CEMAC) regulation on the use of electronic money.

Still, this law does not specifically regulate cryptocurrency transactions. It is this lack of specific laws governing the use of cryptocurrencies, as well as the growing use of such currencies, that appears to have compelled the Cameroonian government to take action.

What are your thoughts on this story? Tell us what you think in the comments section below.

Zanzibar Government Keen to Get Stakeholders’ View on Cryptocurrencies

Zanzibar Government Keen on Getting Stakeholders' View of Cryptocurrencies

Zanzibar is keen on getting stakeholders’ views on the viability of adopting digital currencies before a final decision is made, a government minister has said.

The Importance of Getting the Views of Stakeholders

In his remarks during an interview with The Citizen, Mudrick Soraga, who is the Minister of State, revealed his government is planning to meet stakeholders in the third week of November. Soraga also explained why such a meeting is necessary. He said:

We are seeking views on the matter before deciding whether it is viable or not. You cannot make such a decision without getting input from stakeholders, including banks and the ministries of Finance and Foreign Affairs.

According to the report by The Citizen, Soraga has already met with Joe Chuene, a representative of Hypertech and they discussed how best the island nation can adopt cryptocurrencies.

The report also quotes Haji Semboja, a professor at the State University of Zanzibar’s Economics Department, who endorses the government’s decision to engage stakeholders first. However, Semboja warned that since finance is a Union issue, the Zanzibar government, therefore, is obliged to liaise with the Tanzanian government via the Bank of Tanzania.

Through this arrangement, the two governments will come up with policies that will explain the objectives of the digital currency, how it works, as well as its benefits, the report explained.

Definition of Cryptocurrencies Key

Meanwhile, Sandra Chogo, a cryptocurrency expert and author of the book titled Jielimishe Kuhusu Blockchain, is quoted in the report highlighting the importance of defining or clarifying the status of cryptocurrencies first. It is only when this has been done will the government be able to come regulations as well as which body should regulate cryptocurrencies.

While many of the experts quoted in the report appeared to support the Zanzibar government’s tilt towards cryptocurrencies, one unnamed economist had a divergent opinion. According to this economist, cryptocurrencies need to be accepted by central banks globally if they are to become an efficient and effective medium of exchange.

“Currencies are stable globally because they are supported by central banks through strong monetary policies,” the economist explained.

What are your thoughts about this story? Tell us what you think in the comments section below.

Citizens in Argentina Might Have to Pay Crypto Taxes Depending on Location

argentina

A new crypto tax paradigm is brewing in Argentina, where two provinces have now approved crypto tax laws. This means that Argentinian citizens must disclose their cryptocurrency holdings and pay taxes according to the trades they do in the provinces of Tucuman and Cordoba. This is because cryptocurrencies have been grouped with all other international currencies, and are therefore subject to tax.

Cryptocurrencies Will Be Taxed in Certain Provinces of Argentina

Cryptocurrency taxes have arrived in Argentina, at least in certain provinces. Now, users that trade and hold cryptocurrencies must disclose their earnings and pay taxes at least in two provinces: Cordoba and Tucuman. The reason behind this lies in a new regulation adopted at the province level that stipulates cryptocurrencies will be taxed like other international currencies when traded.

This means that effectively, in these two provinces, cryptocurrencies are treated as other international currencies according to regulation. The province of Tucuman recently approved an amendment to article 223 of the law that states:

Purchase and sale of foreign currency and government securities. The operations of the purchase and sale of digital currencies are included in this subsection.

Cordoba, another province that approved a similar resolution earlier this year, also determined that cryptocurrency trades will be taxed, but it extends this tax provision to people or companies receiving payments in cryptocurrencies for their products or services.

Cryptocurrency More and More Popular

The inclusion of cryptocurrencies in the scope of these laws is something that is being considered in several countries of the world, due to the rising popularity of these instruments as an asset class and also as a payment method. Governments are starting to realize that by not regulating these payments they are losing out on a lucrative income source.

In fact, the government of Mexico has recommended taxing this kind of transaction with a 20% fee. Cryptocurrencies started picking up steam in Argentina after the government put a limit on the number of dollars each citizen could buy monthly. This was the breaking point for a country that was not known for its cryptocurrency involvement, to take interest in these new crypto tools that provided a savings alternative amidst the aforementioned situation.

But it’s not only cryptocurrency payments having success in Argentina. Due to its cheap energy, the country has become an interesting choice for bitcoin mining companies like Bitfarms, which is already building a Bitcoin mega-mining farm to take advantage of the affordable energy rates in the area.

What do you think about the new cryptocurrency taxes in Argentina? Tell us in the comments section below.

Toy Companies Hasbro, Funko, and Mattel Turn to Wax as Trusted Partner

William Quigley loved baseball cards during his pre-teens. As the founder of WAX (Worldwide Asset Exchange), you might think Quigley’s crowning achievement may have been to strike a deal with Topps Baseball Card company, so WAX could manage and create NFTs with the MLB. However, Quigley was able to add another giant feather to his cap as WAX recently completed the rare “hat trick” as the official NFT partner for the toy industry’s “big three” – Funko, Hasbro and Mattel.

WAX was already a trusted partner for many, working with well-known intellectual property including “SAW”, “The Princess Bride”, “Blade Runner”, and already had multiple massively successful NFT drops for Topps (with more planned), Capcom, and others; but the business is now in rare company with this week’s upcoming launch of the Mattel Hot Wheels NFT Garage line which completes the trifecta WAX began with successful partnerships with Funko and Hasbro earlier this year.

“As we innovate within the NFT space, WAX continues to align with incredible, iconic brands,” said William Quigley, CEO of WAX. “To be entrusted by the “Big Three” of the toy industries is not only gratifying but it validates what WAX as a company is trying to do.”

Available for a limited time, exclusively through Hasbro Pulse, Hasbro’s Power Rangers NFT drop collection featured the iconic franchise that first swept through the American airwaves in the 1990s. Hasbro Pulse Premium members had exclusive access to purchase the collection on HasbroPulse.com, while supplies lasted. Fans were able to expand their collections with a Power Rangers NFT, uniquely transacted through the blockchain that can be redeemed for a special edition Dino Megazord.

“We were thrilled to partner with WAX to offer Hasbro’s first-ever NFT collection with the Power Rangers franchise,” said Kwamina Crankson, Vice President and General Manager at Hasbro Pulse. “The WAX platform gives fans an easy entry point into the world of NFTs and digital collectibles.”

Added William Quigley, “WAX is the trailblazer in NFT innovation and we are going big with global play and entertainment company, Hasbro to integrate one of their most iconic brands, Power Rangers, into the blockchain ecosystem.” Quigley continued, “Our vIRL technology is changing the way people shop and trade collectibles with consumers able to purchase NFTs and redeem them for a physical item.”

Perhaps one of WAX’s most prolific partnerships lies in their connection to Funko. Funko has been extremely active in the NFT space lately as they launched its Iron Maiden Digital POP collection, the first band to be immortalized as Digital POP characters. Funko’s Iron Maiden Digital Pop! NFT collection of course stars the iconic ‘Eddie’ who has featured on all the band’s album covers throughout their career.

Of the collection, Chief Executive Officer at Funko, Brian Mariotti noted, “Iron Maiden and Funko fans alike appreciate creative genius in music and pop culture. Now, they can celebrate both in digital form.”

Funko recently released their Digital Pop! Collectibles based on the iconic figure, Big Boy. The fast-food icon with chubby cheeks and checkered overalls, Big Boy has been dotting American pop culture and roadways for 85 years. With a celebrated history of Big Boy’s life as a bobblehead, Big Boy’s digital adventure was featured by WAX.

The sensational Teenage Mutant Ninja Turtles (TMNT) franchise began in 1987 and became an instant hit — inspiring numerous comics, movies, and cartoons. Thirty-four years later, Funko and TokenHead brought these “heroes in a half shell” to life in a collection of Digital Pop! on the WAX Blockchain.

Then there’s the Mattel Collection. More than 5,000 NFTs in this release are redeemable for real-life special edition die-cast cars, as part of this vIRLs (virtual+In Real Life) collection.

“Hot Wheels and Mattel have proven to be a perfect partner to showcase the unique offering our vIRL technology provides for collectors,” stated William Quigley.

On their partnership, Andrew Chan, Head of Digital Gaming at Mattel, stated, “Collectors will have a chance to obtain exclusive physical die-casts vehicles and importantly, the NFTs will be minted on the sustainable WAX blockchain.” Chan continued, “The Hot Wheels design team chose 40 new designs for fans to continue to build their collections of Hot Wheels digital NFT artwork and physical die-cast vehicles!”

Select tokens will unlock access to real-world Hot Wheels products including the Twin Mill, Rodger Dodger, Mach Speeder, SS Camaro and the Bone Shaker – which is the rarest of them all. The collection launches November 16, 2021at 10 am Pacific / 1 pm Eastern.

“It’s intriguing to see content digitized, come to life and become so valuable… think of what the future might bring,” Quigley said.


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