Daily Archives: January 6, 2022

AMC Theatres on Track to Accept Dogecoin and Shiba Inu Payments in Q1, CEO Confirms

AMC Theatres on Track to Accept Dogecoin and Shiba Inu Payments This Quarter, CEO Confirms

The CEO of the world’s largest movie exhibition company, AMC Entertainment, says his company is on track to accept meme cryptocurrencies dogecoin (DOGE) and shiba inu (SHIB) in the first quarter of this year.

Dogecoin and Shiba Inu Coming to AMC Theatres Soon

The CEO of AMC Theatres, Adam Aaron, has provided an update on his company’s progress in accepting meme cryptocurrencies dogecoin (DOGE) and shiba inu (SHIB).

AMC Entertainment Holdings (NYSE: AMC), aka AMC Theatres, is the largest movie exhibition company in the U.S., Europe, and the world. The company owns or operates approximately 950 theaters and 10,500 screens globally.

Aron tweeted Thursday that he has been asked repeatedly when AMC expects to accept dogecoin and shiba inu cryptocurrencies “for any and all payments made via the AMC website and mobile app.” He clarified that he is being told that AMC is still “well on track” for the promised Q1 implementation, noting that the exact month is most likely March.

The AMC executive announced in November last year that his company will accept DOGE and SHIB via Bitpay. At that time, Bitpay had not started supporting shiba inu. Aron claimed that the crypto payment processing company decided to start supporting SHIB at his request.

Aron also said at the time that AMC will start accepting shiba inu in Q1 this year. In early December, Bitpay, which already supported DOGE, started supporting SHIB.

What do you think about AMC Theatres accepting dogecoin and shiba inu? Do you think all vendors should accept the two meme cryptocurrencies? Let us know in the comments section below.

Pocket Network Announces Closing of Its Strategic Private Sale to Accelerate Network Development & Global Expansion

PRESS RELEASE. Pocket Network exceeded $56,000,000 in monthly revenues in December placing it in the Top Five revenue producer for blockchains globally surpassing many well known chains.

Tampa Bay, Florida, U.S.A – 6th January 2022 Pocket Network – an infrastructure middleware protocol that provides decentralized cloud computing and abundant bandwidth on full nodes to other applications across 20 blockchains, including Ethereum, Polygon, Solana and Harmony has closed a strategic round of $10 Million led by Republic Capital, RockTree Capital, Arrington Capital and C2 Ventures, as well as other notable participants such as Coinshares, Decentral Park Capital and Dominance Ventures.

Pocket Network has gone from tens of thousands of weekly relays at the start of 2021 to over two billion relays in a single week in December and is rapidly scaling as demand from L1s and dApps for its services increases. For the month of December, relays were 5.5 Billion compared to 89M 12 months earlier.

Since July, Pocket Network’s usage has more than doubled monthly, measured in “relays” which are API calls processed by the protocol. Just this past week, it broke its average daily record by serving 300M+ relays. The growth in network usage has resulted in corresponding node growth on a network now served by over 18,000 nodes run by hundreds of independent community parties and providers.

With total network revenue exceeding $56 Million in the month of December, Pocket Network is already comparatively amongst the Top 5 revenue producers for all blockchains and blockchain applications globally (source data from Token Terminal*), while remaining relatively under the radar until now, including having revenues surpassing that of Solana, Elrond, Harmony, and most DeFi protocols.

“Today in blockchain, the valuation of a project is based on its actual performance and real metrics. In Pocket Network, we have uncovered a gem that is scaling at warp speed and its performance is measurable onchain. Many exchanges and dApps are still reliant today on Web2 centralized cloud computing and hosting providers which can cause costly outages when they go down. RockTree believes Pocket Network is critical infrastructure for the Web3 revolution, that offers true decentralization and constant uptime for a multi-chain blockchain future. Just look at the onchain data” said Omer Ozden, CEO of RockTree Capital, a fund and merchant bank focused on projects at the nexus of Asia and North America. “I want to add that it is Pocket’s high quality team and leadership that has made it an easy choice for RockTree to be their Asia partner and invest.”

Building on its already large community of thousands of node runners Pocket Network aims to scale into the trillions of relays per day, spread across hundreds of thousands of full nodes within the next 5 years.

“We’re incredibly excited to support Pocket Network in its mission to incentivize L1 decentralization. We are believers in many different ecosystems — including Terra, Algorand & Polkadot — and understand the need for wide node distribution at the base layer. Ultimately, POKT is critical to enhancing the long-term robustness and antifragility of the entire crypto-ecosystem”, said Michael Arrington, Founder of Arrington Capital.

“Pocket Network’s market-based approach to infrastructure properly demonstrates how Web3-native services can outcompete Web2 incumbents both in economics and performance. For blockchain app developers and node runners alike, Pocket is a clear no-brainer.” added Alex Ye, Managing Director, of Republic Crypto.

We announced earlier this year the strategic partnership with Rocktree Capital, who is helping lead the global acceleration of our presence into all of the major blockchain markets. Today we are excited to announce the continued acceleration of this plan through the strategic partnerships formed in this sale with Republic, Arrington Capital and many high impact players providing value to the whole Pocket Network ecosystem.– Michael O’Rourke, CEO of Pocket Network

Pocket Network is targeting increasing developer adoption and node coverage through multiple initiatives, including an extensive multi-jurisdictional expansion into the Asia-Pacific region in the coming year.

About Pocket Network

*Token Terminal will publish full revenue data for Pocket Network on January 5th

Pocket Network, a blockchain data ecosystem for Web3 applications, is a platform built for applications that uses cost-efficient economics to coordinate and distribute data at scale. It enables seamless and secure interactions between blockchains and across applications. With Pocket, the use of blockchains can be simply integrated into websites, mobile apps, IoT and more, giving developers the freedom to put blockchain enabled applications into the “pocket” of every mainstream consumer.

RockTree Capital, a merchant bank and fund based in China focused on blockchain projects and mobile e-commerce companies, with offices in Beijing, Shanghai, New York and Toronto. RockTree Capital invests into top-tier blockchain projects and accelerates their growth in Asia.

Arrington Capital is a digital asset management firm primarily focused on blockchain-based capital markets. The firm, founded in 2017 by TechCrunch and CrunchBase founder Michael Arrington and TechCrunch CEO Heather Harde, has over $1 billion under management and has invested in hundreds of startups across the world.

Republic Capital is a leading investment platform that provides access to startup, real estate, crypto, and gaming investments for both retail and accredited investors. Republic has facilitated over $700 million in investments by our global community of over one million members

C2 Ventures is a chain-agnostic venture fund, focused on empowering builders with capital as well as operational expertise to develop and scale the next generation of leading Web3 and Metaverse applications.

For more information, visit: Pocket Network

 

 

 


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.

Report: Pakistan Likely to Earn Billions From Cryptocurrency

According to a document produced by a Pakistani policy advisory board, the country is likely to earn billions of dollars from crypto-asset holders. Yet for this to happen, the country first needs to create the appropriate regulatory framework for crypto assets.

Cryptocurrencies Could Boost Reserves

Pakistan may potentially raise billions of dollars from crypto assets held by its nationals or by residents with dual citizenship, a policy document produced by the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has said.

According to a report in The Business Recorder, the document titled “Prospect of Cryptocurrencies: A Context of Pakistan Policy Brief” asserts that Pakistan could also use the crypto assets to help boost the country’s reserves.

However, before it adopts the recommendations of the policy document, Pakistan needs to craft a regulatory framework as well as a national cryptocurrency strategy. This, according to the report, must be done in order to protect the country’s economic interests.

Concerning the volatility of cryptocurrencies, the policy document reportedly recommends their recognition as an asset class. In addition, the report also explains how cryptocurrency exchange-traded funds (ETFs) are likely to attract both domestic and foreign investors. Such a crypto ETF could ostensibly help the Pakistan Stock Exchange regain its position among emerging economies.

On the other hand, the report argues that Pakistan’s failure to adopt crypto could result in cryptocurrency holders moving their assets to countries that are more friendly to digital currencies.

The Business Recorder report reveals that the Financial Action Task Force (FATF) has similarly called on Pakistan authorities to consider regulating cryptocurrencies.

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

Fed’s Minutes Report ‘Bludgeons’ Global Markets — Stocks, Crypto, Precious Metals Slip in Value

Fed's Minutes Report 'Bludgeons' Global Markets — Stocks, Crypto, Precious Metals Slip in Value

Minutes from the U.S. Federal Reserve’s policy meeting on December 14-15 show that the central bank is being persistent about unwinding quantitive easing (QE) tactics and that it views ultra-low interest rates as no longer necessary. Global markets immediately dropped after the news was published as stock markets roiled, crypto markets shed billions, and precious metals like gold slipped a hair in value as well.

US Central Bank Policy Meeting Suggests the QE and Low-Interest Rate Fiesta Is Coming to an End, Global Markets Lose Billions

Recently published notes from the Fed meeting last month indicate that the U.S. central bank thinks the economy is healthy enough to unwind major asset purchases and increase the benchmark interest rate. Mizuho Bank’s Vishnu Varathan wrote in a report that the minutes update from the Fed “bludgeoned the markets” after it was published. Barron’s financial author Randall W. Forsyth wrote that investors being “surprised, is somewhat surprising.”

Fed chair Jerome Powell gave no details on when the interest rate hike will begin and when it comes to QE, Powell said it was “best to take a careful, methodical approach.” Powell insisted that the cautious attitude toward tapering is because “markets can be sensitive.” Stock markets were sensitive on January 5, after the Fed minutes were published, and the crypto economy shed billions in value as well. Gold shed 1% and silver shed 3% in value during the last 24 hours after the Fed minutes were published.

Asian stocks fell during the overnight (EST) trading sessions as well following Wall Street’s plunge. On Thursday, Wall Street’s top indexes picked up some gains as the Nasdaq and NYSE were up some percentage points in the morning, but the Dow Jones index was still down 100 points. Digital currency markets across the board are down 8.3% as the crypto economy is valued at $2.17 trillion today.

The last Fed minutes meeting indicated that the level of inflation in the U.S. has increased a great deal but the strength of the economy was considered healthy. Fed participants wrote that they wanted to “begin to reduce the size of the Federal Reserve’s balance sheet relatively soon after beginning to raise the federal funds rate.” The next U.S. central bank meeting is slated for January 25-26.

What do you think about the Federal Reserve’s latest minutes report and the market changes that ensued shortly after? Let us know what you think about this subject in the comments section below.

Kazakhstan Shuts Down Banks, Internet Amid Unrest That Threatens Bitcoin Mining, Hashrate

Kazakhstan Shuts Down Banks, Internet Amid Unrest That Threatens Bitcoin Mining, Hashrate

Measures imposed by authorities to quell mass protests in mining hotspot Kazakhstan are affecting cryptocurrency markets and the Bitcoin network hashrate. To deal with the civil unrest caused by rising fuel prices and a worsening economy, the government restricted access to the internet and closed down local banks. Fears are rising that the turmoil may spark another major migration of miners now that some are already leaving the country, which also faces power shortages.

Government Takes Country Offline as Protests Rage in Major Cities, Russia Sends Troops

Thousands of Kazakhstanis took to the streets this week to express their anger over the socioeconomic conditions in their country after the government removed a cap on prices of natural gas and other fuels. Protests erupted in the country’s largest city, Almaty, the capital Nur-Sultan, and in the western Mangistau province. Authorities have imposed a state of emergency.

Over 1,000 citizens have been injured, official media reported, during the demonstrations in which government offices were attacked, guns fired, and people killed both among protesters and law enforcement officers. On Jan. 5, President Kassym-Jomart Tokayev dismissed the government, blaming ministers for the situation that threatens to spiral out of control. Russia has already sent “peace keeping” troops after Tokaev asked the allied country for help in the face of a “terrorist threat.”

Kazakhstan has been largely offline in the past couple of days, with disruptions affecting phone connections as well. The monitoring group Netblocks revealed on Wednesday that the country is in an internet blackout. On Thursday, the state-run Khabar 24 TV news channel confirmed that access to the world wide web has been restricted with users being unable to reach social media platforms and messaging apps.

Meanwhile, all bank offices across the nation have been closed down, according to a representative of the National Bank of Kazakhstan quoted by the Russian Interfax news agency. The official, Olzhas Ramazanov, explained that the regulator has made the decision after “taking into account temporary internet interruptions as well as to protect the health and life of employees of financial institutions and consumers of financial services.”

Kazakhstan Unrest Hits Crypto Markets, Bitcoin Hashrate

The rapidly developing events in Kazakhstan affected cryptocurrency markets and the price of bitcoin (BTC) fell below the $44K mark on Wednesday when the crypto economy shrank by around 4.5% to $2.25 trillion, as Bitcoin.com News reported. The cryptocurrency with the largest market capitalization is trading under $43,000 per coin at the time of writing on Thursday.

Amid the crackdown on crypto mining launched by the Chinese government in May, Kazakhstan became a magnet for companies involved in the minting of digital currencies, thanks to its capped electricity rates and generally positive attitude towards the industry. The country’s average monthly hashrate share exceeded 18% last year, with the Central Asian country turning into a major mining hotspot.

Starting the new year at almost 229 exahashes per second (EH/s) on Jan. 1, the mean hashrate of the Bitcoin network fell below 170 earlier this week. It currently stands at 167.86 EH/s, at the time of writing. Members of the crypto community have expressed fears that a further deterioration of the situation in Kazakhstan could affect the indicator even more as miners may begin to relocate to jurisdictions with a more stable political environment and power supply.

While Kazakhstan initially welcomed mining companies and has taken steps to regulate the sector, authorities have blamed the country’s growing problems with electricity shortages on the influx of mining companies. The power deficit exceeded 7% in the first three quarters of 2021 and interruptions in energy supply have already forced some businesses to shut down crypto farms and move equipment to other mining destinations such as the U.S.

Do you think the crypto world will witness another major migration of miners in 2022 due to the events in Kazakhstan? Share your expectations in the comments section below.

Despite the Crypto Market Dip, Weekly Gains Show OSMO, ATOM, FTM, and a Slew of Other Assets Shined

On January 5, digital currency markets shed a great deal of value as bitcoin dropped below the $44K handle during the late afternoon (EST) trading sessions on Wednesday. Nearly every coin has shed 24-hour value, but a slew of crypto assets have seen double-digit gains and have managed to stave off the crypto economy downturn.

This Week’s Double-Digit Crypto Gainers

At the time of writing, the crypto economy is down more than 7% to a low of $2.16 trillion on Thursday, January 6, 2022. The price of bitcoin (BTC) has lost 7% this week as well as it dropped below the $44K zone from the $46K region where it sat 24 hours prior. BTC’s current 24-hour range is between $46,901 per unit and a low of $42,466 per unit.

Other top crypto assets have shed significant value as well as ethereum (ETH) is down more than 10%, binance coin (BNB) has lost over 8%, and solana (SOL) has dipped more than 11% in USD value. Weekly metrics were recorded on January 6, 2022, at 9:45 a.m. (EST).

Despite the major drawdown across most of the 12,000 crypto assets in existence, a number of digital coins have seen double-digit seven-day gains against the U.S. dollar. For instance, osmosis (OSMO) is up 41.3% this week, and cosmos (ATOM) has jumped 34.9%. Those two tokens are followed by fantom (FTM) (+32.5%), ravencoin (RVN) (+27.7%), and internet computer (ICP) (+25.9%).

MIOTA, SPELL, SUSHI, KDA See Double-Digit Losses This Week

Harmony (ONE) jumped 25.7% this past week, chainlink (LINK) is up 23.5%, and yearn finance (YFI) has increased 23.3% in seven days. In addition to the aforementioned gainers, celo, curve, mina protocol, near, klaytn, thorchain, stellar, helium, kucoin token, bittorrent, and oasis are still up this week with 1% gains or higher. The biggest loser during the last seven days was iota (MIOTA) as the crypto asset shed 19.5% in value.

MIOTA is followed by spell token (SPELL) (-18.8%), sushi (SUSHI) (-18.5%), and kadena (KDA) (-16.7%). At the time of writing, more than a dozen stablecoins are the only tokens that managed to stave off the 24-hour slide due to their fiat pegs, and all of them command roughly $98.2 billion in global trade volume. Statistics show that 61.95% of all the trades on January 6 are against the myriad of stablecoin crypto assets.

What do you think about this week’s double-digit crypto asset gainers? Let us know what you think about this subject in the comments section below.

Bitcoin Dominance Sinks to Lowest Level in 3 Years as Ethereum, Numerous Competitors Gain on BTC

Bitcoin dominance has dropped to the lowest level in just over three and a half years since June 3, 2018, at 37%. Last year, at the end of March, bitcoin dominance hovered just above the 60% zone but since then, numerous digital asset market caps have swelled in value and gathered prominence in the market rankings along the way.

Bitcoin Dominance Dips Below 38%

The crypto economy currently has roughly 12,247 crypto assets traded across 542 exchanges worldwide. Crypto markets have shed more than 7% over the last 24 hours, dropping to a low of $2.16 trillion by 8:00 a.m. (EST).

While people measure the individual crypto market capitalizations regularly, bitcoin’s market valuation dominance, compared to the rest of the capitalizations, has been measured since the existence of multiple crypto markets.

During the first few years, BTC dominance was well above the 90% range, in terms of market capitalization dominance. Dominance was recorded more so during the month of May 2013, and at that time, BTC dominance was 94%.

This was measured against crypto assets like namecoin, novacoin, litecoin, terracoin, feathercoin, and freicoin. Between May 2013 and February 2017, bitcoin’s market dominance remained above 80%.

However, since February 26, 2017, bitcoin has not been able to jump back above the 80% zone and has only managed to get as high as 70% just over a year ago, last January.

11 Coins Besides Bitcoin and Ethereum Command Over 20% of the Crypto Economy

BTC’s dominance is currently coasting along at 37.7% while ethereum (ETH) commands 18.6%. While ethereum is a formidable foe, many other crypto caps have been moving in on bitcoin’s dominance territory.

Tether, binance coin, solana, usd coin, cardano, and xrp command more than 15% of the $2.18 trillion crypto economy. The aforementioned coins, plus terra, polkadot, avalanche, dogecoin, and shiba inu equate to 20.63% of the crypto economy.

All of these coins, including ethereum and removing SHIB, hold more than 1% or more in crypto market valuation dominance. Since January 2021, when BTC’s dominance was 70%, a myriad of altcoins have been nipping at bitcoin’s market cap heels.

What do you think about bitcoin’s low dominance levels today? Let us know what you think about this subject in the comments section below.

Why You Need to Buy Sassy Unicorns NFT

What Are Sassy Unicorns NFT

Sassy Unicorns are a collection of 10,000 unique NFTs on the Ethereum blockchain. Each unicorn is available to adopt, with unicorns distributed randomly at the minting event.

Special About Sassy Unicorns NFT

Each NFT holder can yield 7$ daily by holding NFT in their wallet.

Passive Income Token

The goal is to create a loop. The passive income increases the value of the NFT, the price of the token increases because the floor price increases, so the passive income increases again because token price increases, the floor price increases again, the passive income increases again.

Why Token

A token will sit at the core of everything in the Sassy Unicorns universe. As the universe grows more utility will be added. The mission of Sassy Unicorns extends further than a 2D PFP, or a 3D avatar. It’s about family, utility, and of course the main life source of any unicorn, token that fuels the ecosystem the TRUE way, on the blockchain. (*The SUNI token is under development and not available for code testing yet.)

Controlling the Floor

There will be a grace period of 12 days to hold NFT in your wallet to be eligible to earn token daily. If you sell/transfer/list your NFT 12 days grace period starts again.

Project for Holders not Flippers

Have patience and you will get your reward. Not a project for quick money and flippers. No rugpulls.

Breeding

Hold any two Sassy Unicorns NFT in your wallet and burn 600 tokens to receive a Baby Unicorn.

What’s Next for Sassy Unicorns

The Sassy Unicorns developers have built a long-term roadmap to grow and provide value for the Sassy Unicorns community. Once it has grown out into a powerful and engaged community, the developers will release 3D unicorns and VX unicorns to be part of Sandbox Metaverse. More details soon. The main goal is to take this phenomenon to the next level, empowering and incentivizing Sassy Unicorns NFT holders.

Mint now on: https://sassyunicorns.io/

Website: https://sassyunicorns.io/

Twitter: https://twitter.com/SassyUnicornNFT

Discord: https://discord.gg/2PjVUrJvDJ

 


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Europe’s Securities Watchdog Seeks Feedback on Regulations Ahead of DLT Pilot

Europe’s Securities Regulator Seeks Feedback on Regulations Ahead of DLT Pilot

ESMA, the European Securities and Markets Authority, has set out to establish if EU authorities need to amend existing regulations in order to facilitate the trading and settlement of tokenized securities. The regulator is now seeking opinions on the matter ahead of launching a pilot regime for market infrastructures based on distributed ledger technology (DLT).

ESMA Gathers Stakeholders’ Input on DLT Pilot Regime for Securities

The European securities watchdog ESMA is accepting public comments on the potential update of regulations concerning the implementation of DLT solutions in the market. The authority has to assess whether some regulatory technical standards (RTS) developed under the Markets in Financial Instruments Regulation (MIFIR) need to be amended in order to be applied to securities issued, traded, and recorded on DLT.

The standards in question pertain to trade transparency and data reporting requirements, ESMA notes in a “Call for Evidence” document published this week, which seeks feedback from various stakeholders. These include trading venues, securities settlement systems and entities planning to operate under its DLT pilot regime, and other market participants that intend to use DLT market infrastructures.

The announcement notes that the text of the DLT pilot is not finalized yet but as an agreement between the European Parliament and the European Council has already been reached in November, ESMA believes it’s necessary to begin consultations now. The regulator explains:

The DLT Pilot Regime is likely to start applying in the beginning of 2023, which leaves only little time for the assessment and potential amendments of the RTS.

The Paris-based regulatory body will accept and review the comments submitted by interested parties by March 4, 2022. Based on the feedback provided by the market participants, the authority will consider introducing specific amendments to the RTS.

If such changes are deemed necessary, the European Securities and Markets Authority will once again seek public opinion on its proposals through a consultation paper to be issued before the final draft of the RTS is presented to the European Commission. The executive power in Brussels will have the final say on their adoption.

Do you expect the EU to amend its regulations for the DLT pilot regime for securities trading and settlement? Tell us in the comments section below.

Coinbase Shares Predictions on Future of Ethereum Scalability, Metaverse, Defi, NFTs

Coinbase Predicts Future of Ethereum Scalability, Metaverse, Defi, NFTs

Coinbase’s chief product officer has shared some predictions for 2022 regarding Ethereum’s scalability, the metaverse, decentralized finance (defi), non-fungible tokens (NFTs), and more.

2022 Predictions by Coinbase’s Executive

Coinbase’s chief product officer, Surojit Chatterjee, shared last week 10 predictions of what the crypto industry holds in 2022. The predictions cover a range of crypto topics, including ETH scalability, zero-knowledge proof technology, decentralized finance (defi), non-fungible tokens (NFTs), and the metaverse.

Non-fungible tokens “will become the next evolution of users’ digital identity and passport to the metaverse,” the executive described, adding:

User created metaverses will be the future of social networks and will start threatening the advertising driven centralized versions of social networks of today.

“Brands will start actively participating in the metaverse and NFTs,” he continued. “NFTs and the metaverse will become the new Instagram for brands.” Furthermore: “Web2 companies will wake up and will try to get into Web3 … and metaverse in 2022. However, many of them are likely to create centralized and closed network versions of the metaverse.”

Regarding regulated defi and the “emergence of on-chain KYC attestation,” the Coinbase executive explained that “Many defi protocols will embrace regulation and will create separate KYC user pools.” He detailed:

Institutions will play a much bigger role in defi participation … Growth of regulated defi and on-chain KYC attestation will help institutions gain confidence in defi.

The Coinbase executive further predicted that “Defi insurance will emerge,” emphasizing that “To protect users from hacks, viable insurance protocols guaranteeing users’ funds against security breaches will emerge in 2022.”

The predictions also cover Ethereum’s scalability. The executive said:

ETH scalability will improve, but newer L1 chains will see substantial growth — As we welcome the next hundred million users to crypto and Web3, scalability challenges for ETH are likely to grow.

What do you think of the predictions by Coinbase’s executive? Let us know in the comments section below.