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MasterCard Is Set To Serve As A Bridge To Enable Banks Offer Consumers The Opportunity To Trade Crypto Like Bitcoin

Mark Brennan
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MasterCard Is Set To Serve As A Bridge To Enable Banks Offer Consumers The Opportunity To Trade Crypto Like Bitcoin

MasterCard hopes to increase confidence in crypto by allowing banks to offer trading services.

A CNBC report today by Kate Rooney reveals that MasterCard is set to act as a bridge to help banks offer crypto trading services to users.

As per the report, MasterCard will act as a bridge between Paxos, a blockchain infrastructure company with growing influence, especially in Latin America, and traditional banks to make the service possible. It is worth noting that Paxos has already made these services possible with PayPal and banks in other parts of the world.

MasterCard will be taking care of regulatory compliance and security, two major concerns that have restricted legacy financial institutions from getting involved in the crypto market. Moreover, it will also quell some of the consumers’ concerns about the emerging market. MasterCard’s chief digital officer, Jorn Lambert, noted that about 60% of respondents in a poll who are yet to enter the space would prefer to do so via the familiar traditional banks.

“There’s a lot of consumers out there that are really interested in this, and intrigued by crypto, but would feel a lot more confident if those services were offered by their financial institutions,” Lambert reportedly said. “It’s a little scary to some people still.”

Notably, MasterCard plans to start a service pilot in Q1 2023 with plans to expand to different regions worldwide.

As highlighted by the latest report, the continuous partnerships between traditional finance and crypto are ironic, as crypto was originally intended to disrupt legacy finance. However, these partnerships have continued to thrive as they improve crypto adoption and allow legacy finance to attract a new user base. Notably, MasterCard in August partnered with Binance to launch the Binance prepaid card in Argentina to allow for easier crypto payments.

The latest move by MasterCard may very well be the catalyst for the next wave of crypto adoption, even as it promises to offer new competition for crypto exchanges which could lead to better services across the board.

Allnodes Burns Over 56 Million LUNC, Plans To Burn LUNC Weekly Till The End Of 2022

Mark Brennan
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Allnodes Burns Over 56 Million LUNC, Plans To Burn LUNC Weekly Till The End Of 2022

LUNC validator Allnodes is set to burn LUNC weekly till the end of the year.

In a tweet today, LUNC validator Allnodes urging members of the LUNC community to stake with it, announced that it had sent over 56 million LUNC to the burn wallet from its 5% commission.

“56,706,118 LUNC were burnt earlier today by Allnodes,” the validator tweeted. “Delegate to Allnodes and participate in our weekly ritual until the end of 2022!”

Community members can find further proof of the transaction on the LUNCPenguins website created by HappyCattyCrypto with the description Allnodes burn. Consequently, Allnodes now ranks as the 9th largest burner of LUNC tokens. As stated in its tweet today, it plans to burn LUNC weekly till the end of the year.

It bears mentioning that Binance leads the ranking with over 8 billion LUNC burned so far as the community anticipates the next burn today. Notably, it is ahead of the 1.2% tax burn, which accounts for about 6.5 billion of all LUNC burned. 

It is worth noting that decreasing on-chain volume after implementing the 1.2% tax has prompted the community to push for a tax reduction. Currently, the community is voting to reduce the tax to 0.2% while setting aside 10% of the tax collected for development activities by routing it to the community pool.

Notably, Allnodes has also voted in favor of the new proposal after being convinced by Edward Kim’s analysis despite initial concerns that it was too soon.

The increasing support for LUNC burns is a testament to the strength of the community, which is drawing the attention of different crypto platforms which hope to grow their user base while pressuring industry leaders like Binance to burn trading fees obtained from the token.

Ripple Chief Brad Garlinghouse Says ‘The SEC Has Clearly Forgotten That The Government Works For The People’

Mark Brennan
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Ripple Chief Brad Garlinghouse Says ‘The SEC Has Clearly Forgotten That The Government Works For The People’

Ripple CEO expresses frustration over the lack of consequences for perceived SEC overreach.

In a tweet on Saturday, Ripple chief Brad Garlinghouse asserted that the US Securities and Exchange Commission (SEC) had forgotten its duty to consumers with its recent campaign of regulation by enforcement.

“There is no regard for those companies and people that this approach has harmed,” Garlinghouse said, expressing outrage for the regulatory approach of the SEC. “We all should be outraged. The SEC has clearly forgotten that the government works for the people.”

The Ripple chief expressed frustration that the SEC has nothing to lose by suing the payments company. Notably, the government funds the commission with taxpayer dollars, and the commission, in recent months, has hoped to obtain more funding to expand its crypto enforcement arm despite almost doubling the workforce just recently.

The SEC in December 2020, named Garlinghouse, Ripple co-founder Chris Larsen and Ripple in a lawsuit alleging XRP to be an unregistered security. Despite the SEC’s primary duty to protect consumers, there’s a case to be made that the biggest losers in this legal battle have been XRP holders and businesses utilizing XRP and the XRP Ledger in the US.

Notably, Crypto Eri last week expressed the same sentiments in a tweet in response to the amicus brief filed in support of Ripple by I-Remit. The firm, in its brief, highlighted that the SEC had conveniently chosen to ignore the utility XRP provides as a bridge currency for international settlements via RippleNet’s On-Demand Liquidity (ODL) service.

It is worth noting that the case is edging to a close after nearly 2 years of back and forths, with Garlinghouse expecting a decision in Q1 2023. While the crypto community is largely optimistic about a win for Ripple, Garlinghouse had previously highlighted that a loss would have little impact on the company’s current operations as 95% of its clients are not in the US.

Anonymous User Donates $19K to Terra Rebels For LUNC Revival

Lele Jima
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Anonymous User Donates $19K to Terra Rebels For LUNC Revival

Terra Classic investors intensify efforts to revive LUNC.


The Terra Classic community has shown immense support for Terra Rebels; a decentralized organization focused on revitalizing the Terra Classic ecosystem. Members of the community have been encouraging the organization, in multiple ways, to continue its work toward reviving the value of LUNC.

In an interesting development, an anonymous Terra Classic supporter donated $19,520 to Terra Rebels, supporting the ongoing LUNC revival initiative.

Terra Rebels took to Twitter to announce the development, describing the financial donation as extremely generous.

“There was an extremely generous donation made towards TerrRebels OpenCollective. Whoever this is, please DM us so we can formally thank you for your generosity and contribution to help us continue to serve the LUNC community,” Terra Rebels said.

LUNC Investors React

According to the transaction details, the financial contribution was made yesterday by a user referred to as Orquda. Before the huge transaction, the user had previously donated $254 to Terra Rebels’ Open Collective, which puts the user’s total donation at $19,775.

At the time of writing, the real identity of the donor is still unknown. However, the Terra Classic community has expressed gratitude to the anonymous donor.

Terra Rebels LUNC Revival Efforts

Since the Terra Open Collective program started, several enthusiasts have contributed financially to the project. At press time, 146 people contributed financially to the program, with Orquda ranked as the highest donor, with a total donation of $19,775. 

Another significant financial contribution to the project was $9,984, which Neblio made. 

Following the collapse of the Terra project in May, Terra Rebels, alongside investors, have been focused on reviving the classic blockchain and tokens through open-source code contributions.

The team previously shared a roadmap on how it intends to revive LUNC value. Last week, Terra Rebels disclosed plans to launch a more effective way to burn Luna Classic tokens, as the existing 1.2% tax burn proposal is not enough to burn the tokens as expected.

Terra Classic Core Developer Edward Kim Proposes Terra Classic Grants Program, Requesting $68,000 To Direct It

Mark Brennan
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Terra Classic Core Developer Edward Kim Proposes Terra Classic Grants Program, Requesting $68,000 To Direct It

Edward Kim proposes a grants program to promote chain utility and ensure better transparency with community pool distribution.



In a tweet today, Terra core developer Edward Kim shared a proposal to launch a Terra Classic grants program to ensure efficient and transparent distribution of community pool funds.

Kim’s proposal comes as he expects proposal 5234 to pass the community vote. Notably, the proposal requests that the 1.2% tax burn parameter be reduced to 0.2%, with 10% of the tax obtained sent to the community pool to fund development activities. 

The proposal has recently gained good traction and formed the basis of many discussions within the community. Kim, who originally pushed the 1.2% tax parameter as reported by The Crypto Basic, has opted to vote in favor of the new proposal explaining his rationale in a blog post. Notably, the leading centralized crypto exchange KuCoin has also supported the proposal.

As per Kim’s latest proposal, the grant program team will work to identify deficiencies in the Terra Classic chain. Notably, after identifying these issues, requests with cash incentives will be made for developers or whatever talent is required to submit proposals to tackle the specified deficiency. 

Independent reviewers will be brought in to review the proposals to eliminate potential conflicts of interest. At the end of the proposal review process, the data and reviewer recommendations will be published as a proposal requesting the community to ultimately approve the allocation of the funds for the project to a designated multisig address.

Notably, the grant foundation will make payments to grantees from the address per milestone.

To this end, Kim requests $68,000 to kick off and cover the running expenses of the grant program for the next 6 months. It bears mentioning that the Terra community pool currently holds about 407 million LUNC worth about $120k at exchange rates.

So far, the proposal by Kim has received largely positive reviews, as it promises to create a transparent system that incentives development and the discovery of new talent. With affiliations to the Terra Rebels and TerracVita, Kim has promised to recuse himself from grants involving both parties.

The Terra Classic chain recently ranked 60th among DeFi chains with just over $12 million in total value locked (TVL). The community hopes to rebuild the chain and regain its previous glory when it was just behind Ethereum with over $30 billion in TVL. However, the current lack of utility and technological parity with competing chains stands in its way.

Terra Classic Community Launches Petition to List Luna Classic (LUNC) on Robinhood 

Lele Jima
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0
Terra Classic Community Launches Petition to List Luna Classic (LUNC) on Robinhood 

Petition to list LUNC on Robinhood launched.



Victims of the Terra ecosystem debacle are not relenting in their quest to revive the project’s collapsed token, Luna Classic (LUNC) and UST Classic (USTC).

Although several cryptocurrency trading platforms have implemented the 1.2% tax burn for all LUNC on-chain transactions, the Terra Classic community still wants to incinerate more tokens to revive the price.

This time, the Terra Classic community is pushing to have LUNC listed on the zero-commission investing platform Robinhood. The community launched an online petition on Change.org to call on Robinhood to list LUNC on the trading platform. 

Details of the Petition

Per details on Change.org, the petition was launched by a Terra Classic supporter named QDS Land about a month ago. The petition requires at least 5,000 signatures but has so far accrued 3,725 signatures at press time.

“The people of #LuncCommunity are seeking to list the Terra Luna Classic Coin (LUNC) on the Robinhood platform,” the petition read. 

According to QDS Land, the move to have LUNC listed on the trading platform will be beneficial to the LUNC community and Robinhood. QDS Land claimed that there are currently over 1.5 million LUNC holders who complete billions of dollars worth of trading volume daily.

The LUNC supporter also noted that over 300,000 wallets were created four months before the petition was launched on Change.org. 

“[As] you can see, with these kinds of numbers, this would also benefit your platform as well, […] With that being said, we would formally like to ask you if you would list us on Robinhood, one of the BEST platforms as well,” QDS Land added. 

Robinhood is yet to respond to the petition created by LUNC investors. Although the petition is yet to get the 5,000 signatures, it is unclear whether Robinhood will list LUNC even after the 5,000 signatures are gotten due to Terra’s crisis.

The Adoption of Petition in Crypto Space

Meanwhile, crypto community members are gradually seeing the effect of online petitions on cryptocurrency trading platforms.

The Shiba Inu community used the initiative to force Robinhood to list SHIB on the zero-commission trading platform. The petition, which required a total of 1 million signatures, could attract 559,737 signatures within a short time. The 559,737 signatures were enough to prompt Robinhood to list SHIB, and the Shiba Inu token finally got listed.

The move comes after TheCryptoBasic proposed that the Terra Classic community can launch a Change.org petition to get Robinhood and Coinbase to list LUNC.

Since then, other crypto projects have adopted the approach.

StakeChaiin Launches Its First ADA Staking Pool on Cardano

Mark Brennan
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0

 

Aenco Technologies has announced the launch of its first Cardano (ADA) staking pool for the public on StakeChaiin. The dedicated staking platform has been designed to provide consistent rewards for users in a transparent and cost-competitive manner.

The StakeChaiin platform offers an easy-to-use online engagement portal for both novice and power users. It enables them to stake and/or delegate their digital assets across a growing universe of promising Proof-of-Stake (“PoS”) blockchain networks.

The release of StakeChaiin’s first public Cardano (ADA) staking pool means the community can start delegating the network’s native tokens. In doing so, they will contribute towards securing one the most promising layer 1 blockchains and earn network rewards. The StakeChaiin pool is operated as a network node for the Cardano blockchain and its staking pools can be found here:

Website:  https://stakechaiin.io/#pools

Pool ID:  e523d0b6e3cdca996ccb1e1668db22bc9bcc576a4fb096bca46f83a9

BECH32 Pool ID:  pool1u53apdhreh9fjmxtrctx3kezhjduc4m2f7cfd09yd7p6jkc6k2z

Ticker:  [AENS]

Cardano is a third-generation, decentralised PoS blockchain network that powers the Cardano cryptocurrency and other applications. In addition to the Cardano coin, which trades under the symbol ADA, the Cardano network is useful for smart contracts and other distributed applications. There are three organisations that play an important role in the Cardano ecosystem.

The network is maintained by the nonprofit Cardano Foundation, which is responsible for its governance and advancement. EMURGO is one of the founders of Cardano and is deemed the for-profit arm of the network involved in driving its commercial adoption. Blockchain infrastructure firm IOHK is the third partner, providing technology and engineering insights to the network.

Recommended delegation gateways for Cardano:

1) YOROI Wallet – a browser-based wallet developed by EMURGO

2) DAEDALUS – a full-node wallet developed by IOHK. For more information, please visit: https://www.stakechaiin.io

Aenco Ecosystem encompasses Aenco Smartcap Limited, its operating subsidiaries, and its network of ecosystem partners, together forming a blockchain-focused technology and capital fulfilment group (“Aenco”). Aenco’s business activities channel technological and financial resources into the global drive towards the next iteration of the Internet; i.e. a more open, decentralised, and community-powered Web 3.0.

Through a combination of in-house development and management of blockchain infrastructure at Aenco Technologies, Aenco is securing and validating transactions on scalable protocols. It is also working with industry partners in bringing applications, custody, digital services, financial products, and use cases for blockchain and digital assets to the community.

Aenco is on a mission to blend the activities of securing the most promising blockchain networks, together with innovating digital-first financial products and distribution methods backed by rewards of its blockchain infrastructure. Work with us to create a perpetual ecosystem of technology and capital fulfilment, powering core technologies for a more resilient, equitable, and inclusive future!

Important Information

The Aenco Ecosystem encompasses legal entities operated by Aenco Smartcap Limited, Aenco Technologies Limited, and/or its affiliates, as well as third-party ecosystem and commercialization partners. Different services and products referenced or made available throughout the ecosystem may have different constraints or restrictions in terms of jurisdictions, clientele, and/or community members in which such services and products may be made available or applicable to. Therefore, certain services and products may not be available to nationals or residents of your jurisdiction, or may not be available to specific types of individuals, whereby details are provided on specific product platforms. Aenco also adheres to international anti-money laundering and counter-terrorist financing laws and guidelines, and works with relevant authorities and/or regulations to promote a safe and healthy business environment.

The contents of this announcement / article / email are for informational purposes only. Any information in this writing is not legal, tax, investment, financial, or other advice. Nothing in this writing constitutes a solicitation, recommendation, endorsement, or offer by Aenco or any of its ecosystem partners, or any third-party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.

Aenco and/or its affiliates and ecosystem partners strive to safeguard and keep confidential any information relating to our private clients, users, or their financial situations.

Website: https://www.aensmart.com, Email: info@aensmart.com

Social Media:

✔ ????????: t.me/AENCO

✔ ??????: medium.com/@aenco

✔ ?????????: instagram.com/aenco.ecosystem/

✔ ????????: linkedin.com/company/aencoecosystem

✔ ???????: twitter.com/AencoEcosystem

✔ ????????: facebook.com/aencoecosystem

✔ YouTube: youtube.com/c/AencoEcosystem

395 Million Shiba Inu Burnt in 7 Days, 50 Million In 24 Hours, 43 Million in a Single Transaction: Report

Zabi
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0
395 Million Shiba Inu Burnt in 7 Days, 50 Million In 24 Hours, 43 Million in a Single Transaction: Report

Weekly Shiba Inu burns are declining.


Over 395.80 Million Shiba Inu (SHIB) has been destroyed in the past week, 50.80 Million in the past 24 hours, including 43.23 Million in one significant transaction.

Shibburn.com, the most trusted SHIB burn tracking website, recently released a report stating that the Shiba Inu Community has incinerated a whopping total of 395,803,998 (395.80M) SHIB in 48 transactions in the past seven days.

The latest figure shows an increase of 264.42% over the past week. Last week Shiba Inu Community burned only 108,611,459 (108.61M) SHIB in 34 separate transactions and recorded the lowest-ever Weekly SHIB burn since the launch of the SHIB Burn Portal.

Past 24 Hours Burn:

Apart from this, Shibburn.com also reported a massive 559.46% increase in Shiba Inu Burn volume over the last day. This comes after the SHIB Army collectively burned 50,802,530 (50.80M) SHIB tokens through 6 separate transactions in the past 24 hours.

SHIB Super Store Burned 43.23 Million SHIB in a Single Transaction:

One of the Community-led burn initiatives tagged “SHIB Super Store” removed a staggering 43,233,190 (43.23M) SHIB in one large transaction executed about 13 hours ago.

At press time, Shiba Inu is trading at the price of $0.0000103, showing no change over the last day with a 24-hour trading volume of $111,957,622 ($111.95M).

Terra Classic Ranked as 60th-Largest Decentralized Finance (DeFi) Protocol Last Month 

Lele Jima
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0
Terra Classic Ranked as 60th-Largest Decentralized Finance (DeFi) Protocol Last Month 

Terra Classic is still seen as one of the most important DeFi hubs 

Cosmos Daily, a cryptocurrency analytics data provider, has shared an update about the performance of the decentralized finance (DeFi) ecosystem of the Terra Classic network. 

Despite the collapse of the Terra project in May 2022, the Terra Classic network is still seen as a hub of decentralized finance activities in recent times. 

Terra Classic’s TVL

Last month, the Total Value Locked (TVL) on various protocols on the Terra Classic network was around $12.36 million. According to data shared by Cosmos Daily, the top five DeFi protocols on the network were Terraswap ($5.24 million), Astroport ($4.47 million), Anchor Protocol ($1.6 million), Spectrum Protocol ($1.33 million), and Pylon Protocol ($587,240). 

Image

Other DeFi protocols that contributed to Terra Classic TVL include Loop Finance, Aperture Finance, INK Protocol, etc. Following the amount of TVL on Terra Classic, the network ranked as the 60th-largest blockchain by Total Value Locked, Cosmos Daily noted.

Terra Classic Investors Still Optimistic

Although the volume is nothing compared to Terra’s TVL before the collapse, the development suggests that the community is gradually reinstating their trust in the network. 

The Terra community has been making significant efforts toward reviving Terra classic tokens, especially Luna Classic (LUNC). A 1.2% tax burn has already been implemented to reduce the token’s total supply. 

However, Terra Rebels, a decentralized organization focused on revitalizing the Terra Classic ecosystem, is not prepared to rely only on the 1.2% tax burn. The team proposed an “effective way” it plans to adopt to accelerate LUNC burns.  

However, prominent Terra whistleblower FatMan slammed Terra Rebels, describing the proposal as wrong and authoritative. Terra Rebels quickly responded to FatMan’s criticism as reported by TheCryptoBasic. 

As Ripple Ads Appear On World Trade Centre, Digital Perspectives Says Ripple Has No Plans To Loose SEC Suit

Lele Jima
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0
As Ripple Ads Appear On World Trade Centre, Digital Perspectives Says Ripple Has No Plans To Loose SEC Suit

 

Digital Perspectives says Ripple is not planning to lose.



Digital Perspectives, a YouTube channel that mainly shares updates about XRP, has reacted to viral images on Twitter showing Ripple’s advertisement on different sections at the World Trade Center in New York.

The images show different Ripple-related ads at the World Trade Center, with the images having some interesting captions like “Swift isn’t fast enough.” “Move values across borders instantly with Ripple’s crypto solution for business.” “Shift your business to carbon neutral.”

XRP Community Reacts

Members of the XRP community have reacted positively to the development, with many commending the Ripple team for such an initiative. Digital Perspectives is among those who reacted to the Ripple ads.

In a tweet made yesterday, Digital Perspectives said Ripple’s advert at the NYC World Trade Center indicates that the blockchain company is not planning on “losing”. 

“Now we’re talking! Doesn’t look like the posture of a company that plans on losing to me, now, does it?” Digital Perspectives tweeted in reaction to the ad. 

Digital Perspectives Referring to SEC Lawsuit

Digital Perspectives refers to the ongoing SEC lawsuit against the leading blockchain company that has continued to linger for over a year.

It can be recalled that after the SEC charged Ripple for allegedly violating securities laws, several U.S.-based clients deserted the blockchain company. They fear the SEC might include them in the lawsuit should they continue using Ripple’s solution.

The Ripple vs. SEC lawsuit has entered the summary judgment motion, with Ripple requesting that the court should dismiss the case and declare that XRP is not a security. However, the SEC thinks otherwise.

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