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Facebook (Meta) Head of Crypto Projects David Marcus Announced His Departure From Meta

Albert Brown
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Facebook (Meta) Head of Crypto Projects David Marcus Announced His Departure From Meta

David Marcus who was Leading Facebook Novi (Meta FinTech unit), Co-creator & Board member of Diem, has announced that he will be leaving Facebook by the end of 2021. Stefan Kasriel, the former CEO of Upwork, will take his place.


Marcus did not specify what was the cause of the resignation. He also kept silent about future plans, but hinted that it could be “something new and exciting.”

David Marcus joined Facebook in 2014 after being the CEO of PayPal for two years. He also served as vice president of Messenger.

During his Facebook tenure, In 2018, Markus led a new blockchain research team. In 2019, he took over the helm of the new Libra project. The publication of a white paper related to Facebook’s digital currency (Libra) caused a wave of outrage from regulators around the world. The European Central Bank saw Libra as a threat to fiat currencies.

On December 1, 2020, the Libra Association, changed its name to Diem Association. The Facebook Libra project made many prominent members from the Libra Association leave because of strict regulators response worldwide, including PayPal, Mastercard, Visa, Stripe, eBay Booking Holdings and Vodafone, who cited regulatory risks.

Facebook also rebranded the Libra wallet to Novi. In August 2021, Markus stated the readiness of the digital wallet (Novi) for launch. When Facebook announced that they are launching their Novi wallet without Diem (stable coin previous Libra), but with the help of Coinbase and stable coin Paxos. Then In an open letter, U.S Senators Brian Schatz, Sherrod Brown, Richard Blumenthal, Elizabeth Warren, and Tina Smith expressed “strong opposition to Facebook’s renewed effort to launch a cryptocurrency and digital wallet.”

Earlier, Diem co-founder Kevin Weil and co-founder of the project Morgan Beller left the company.

Recall that at the end of October, Facebook carried out a large-scale rebranding, now Facebook is called Meta. Social media giant Facebook also announced that it will hire 10,000 people in the European Union to improve its metaverse operations.

Black Silk: The Next Up-and-Coming Eco Project Lists on Coinstore

Mark Brennan
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Black Silk: The Next Up-and-Coming Eco Project Lists on Coinstore

What is BKK?

Black Silk is an up-and-coming, innovative ECO project based on wave field ecology. Adopting big data algorithms, cloud computing, and artificial intelligence, the project guarantees maximum profits and minimum loss, as well as various forms of trading with their mature securities risk control system and millisecond-level data response technology. With its smart trading software “Six Degrees”, BKK has revolutionized system architecture and co-insurance methods, creating an innovative trading method where losses are settled and customers are guaranteed profits.

Besides being regarded as a unicorn in the foreign exchange field, BKK is also at the forefront of the industry’s exciting DeFi liquidity mining. With 85% of its total tokens obtained through mining, Black Silk’s unique feature lies in its triple mining mechanism in order to enable more users to participate in BKK’s token governance.

BKK Token Overview

Total Supply: 180,000,000

Transaction Tax: 10% (5% is deducted until it reaches 10%)

Market Cap: 3,098,000 USDT

Launch Date: June 2020

Coinstore Listing: 1 December 2021

Deposit Time: 1 December 2021, 15:00 (UTC+8)

Trade & Withdrawal Time: 1 December 2021, 16:00 (UTC+8)

What is the Token Utility of BKK?

The BKK token has multiple use-cases with it being an ECO project based on wave field ecology and adopting big data algorithms, cloud computing, artificial intelligence, and a smart trading software titled “Six Degrees”. Other use-cases include:

  • Being used for DHHI mine purchases and DHI lockhole mining
  • Decentralizing cross-chain transactions to disregard the need for a central processing unit like other blockchains
  • Stabilizing the transaction status in Black Silk to avoid any fluctuations to save costs. Each transaction is verified and reconstructed to restore BKK’s transaction status to its original state.
  • Protecting users and ensuring security through cryptography. BKK guarantees the double ellipse and Lambport signature scheme methods will ensure all transactions receive privacy protection and are not interfered with by any third party.

At the time of writing, one BKK token is valued at 0.6236~ USDT with a 24-hour trading volume of $1777,342 and an 18.71% increase in the last 24 hours. With its unique triple mining mechanism and innovative trading methods, BKK is expected to gain extensive support and use.

A Closer Look at BKK’s Tokenomics

BKK has a total token supply of 180,000,000 with a transaction tax of 5% until it reaches 10% of the total amount. More details of BKK’s tokenomics are as such:

  • 5% tokens will be allocated to the team for 5 years (1% each year)
  • 5% tokens will be released to partners for 5 years (1% each year)
  • 5% will be released to the technical team for 5 years (1% each year)
  • 85% of tokens falls to BKK’s mining pool which reduces its production annually by 50%.

For each transaction, 5% is deducted until it reaches 10% of the total amount.

BKK’s Roadmap

In their journey to grow as an intelligent trading software, BKK has planned out several exciting milestones in their roadmap. Here is a look at what milestones they plan to accomplish:

  1. To have their application up and running by 2022
  2. To establish an ecological business anchor chain in 2022
  3. To possess improved ecological iteration in 2023
  4. To have launched their Mainnet by 2023 so transactions are broadcasted, verified, and recorded on a blockchain
  5. To have launched their Decentralized Exchange function by 2024

Interested users can check out BKK on Coinstore from 1st December 2021 onwards, and be a part of this developing project!

BKK’s Official Channels

Website: http://bkkgw.blys818.vip/

Get BKK on Coinstore: https://www.coinstore.com/#/spot/BKKUSDT

Download the Coinstore app: https://www.coinstore.com

About Coinstore

Coinstore’s goal is to advance the crypto industry to the next level and provide access to popular digital assets to the mainstream public. Encompassing a whole new concept of “fun” in finance, Coinstore plans to make digital assets available for everyone. Still in the early stages, Coinstore welcomes community members and interested influencer partners to collaborate in the up-and-coming stages.

Media Contact:

Charles Tan, Marketing Head, Coinstore

charles@coinstore.com

Liu Yi Yun, Branding Executive, Coinstore

yiyun@coinstore.com

 

Coinstore Social Media:

Twitter: https://twitter.com/coinstore_en

Telegram Discussion Group：https://t.me/coinstore_english

Telegram Announcement Channel：https://t.me/coinstore_global

Facebook: https://www.facebook.com/coinstore.en/

Website: https://www.coinstore.com

Discord: https://discord.gg/KKHtHa4KPX

Instagram: https://instagram.com/coinstore_exchange

Youtube: https://www.youtube.com/channel/UCHu0m61HHuDftQVE_0jHaYA/videos

 

Does Robinhood Has Any Reason To Say No To Shiba Inu After Top U.S Exchanges Coinbase, Kraken, Gemini Listed SHIB

Zabi
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Does Robinhood Has Any Reason To Say No To Shiba Inu After Top U.S Exchanges Coinbase, Kraken, Gemini Listed SHIB

Will Robinhood follow the same path of Kraken, Gemini, and list SHIB as early as possible?


 

Shiba Inu (SHIB) coin soars more than 20% after Kraken’s listing, while whales are scooping up millions of tokens. SHIB holders keep on increasing in number surpassing the 1 million mark showing the increased interest in the coin because of its popularity, adoption, speed, and as most of the major online exchanges, online retail giants are adding support for Shiba Inu (SHIB) coin.

 

Listing of SHIB from Kraken, Gemini, South Korea exchange Korbit, Singapore exchange Coinhako, Coingate making SHIB acceptable to over 500 merchants as a payment option, Gaming and tech giant Newegg, World’s Largest Theater Chain AMC adding SHIB in the first quarter of 2022 all show that SHIB is not just a meme coin, and its adoption is trending and has no stopping.

With this entire bullish scenario for the coin in play, now Shiba Inu (SHIB) community is looking towards Robinhood to list Shib Token on their trading platform.

Watcher.Guru just posted a tweet and Shytoshi Kusama the developer of SHIB, retweeted this post on his Twitter timeline.

This Retweet from Shytoshi Kusama shows that he impatiently wants Robinhood App to list Shiba Inu. It is only a matter of time before Robinhood will add SHIB, they cannot ignore SHIB for long.

On the other hand, a petition for Robinhood to list Shiba coin has crossed 500,000 signatures.

Vladimir Putin: Cryptocurrencies Are Risky And Volatile Assets That Need Prim Regulations

Mark Brennan
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Vladimir Putin: Cryptocurrencies Are Risky And Volatile Assets That Need Prim Regulations

According to Russian President Vladimir Putin, the crypto market at the moment carries some risks and the level of regulation for the cryptocurrency industry will depend on the risks associated with it.



Vladimir Putin expressed his opinion on VTB Capital Forum.

According to him, digital assets are highly volatile and carry significant risks.

“As far crypto is concerned although in some countries or economies cryptocurrencies are being used more widely and in some, they are prohibited. But my point of view is that crypto is not backed by anything, the volatility is high, the risks are high. I think that you need to listen to those who talk about high risks.”

He also said that he does not consider cryptocurrencies a threat to central banks’ digital currencies (CBDC). He stated that Russia will react to the development of the cryptocurrency market based on risk factors associated with cryptos. The President of Russia specified that the crypto industry will definitely be regulated, but in a format that will allow the crypto to develop without banning them altogether.

 

In an October interview with CNBC, Vladimir Putin said that “cryptocurrencies have a right to exist.” Vladimir Putin told CNBC: “In order to transfer funds from one place to another – yes, but to trade especially to trade in energy resources, in my opinion, is still premature.” The head of state at that time explained that cryptocurrencies are not backed by anything and are unstable. Therefore, it is premature to consider them as a settlement instrument when trading in oil, primary materials, or energy sources.

In September, Russian President Vladimir Putin instructed the Ministry of Finance of the Russian Federation and the Central Bank to prepare proposals for regulating digital assets and digital currency as part of the National Anti-Corruption Plan.

In March, Putin authorized the Russian Prosecutor General’s Office to take measures to prevent illegal international transactions with digital financial assets.

From Now Binance Coin (BNB) Will Be Burned With Every Transaction Like Ethereum

Zabi
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From Now Binance Coin (BNB) Will Be Burned With Every Transaction Like Ethereum

Binance the biggest cryptocurrency exchange token BNB is now going to be burned with every transaction.



BNB is currently trading up 3.42% and one coin price is $627.47.

The reason for the increase in price is BSC Bruno Upgrade v1.1.5 and the burning of 500 BNB Coins ($315,690 USD) since the BEP-95 real-time burn upgrade.

The official Binance Twitter handle just confirmed the update via tweet, which states:

“Today the #BSC Bruno Upgrade v1.1.5 occurred.

Key changes:

  1. New real-time burning mechanism of BNB.
  2. Full node sync speed increase (60%+).
  3. A fixed ratio of the BNB gas fee collected by the validators will be burned in each block.

 

Binance has shared all the details related to Bruno Upgrade v1.1.5 via posting blogpost on their official website.

This hard fork introduces a real-time burning mechanism into the economic model of BSC with the aim to introduce a new burning process of BNB and speed up the full node sync by more than 60%. This upgrade introduces the previously announced BEP-95 with a real-time burning mechanism.

Why Did SAFEMOON Token Fell More Than -18% Today?

Zabi
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0
Why Did SAFEMOON Token Fell More Than -18% Today?

SafeMoon, a decentralized finance (DeFi) token, nosedived -18.37% to $0.000002462, after whale moves $60,000,000 worth of SAFEMOON, selling $560,000 in the process.

TX: https://bscscan.com/tx/0x357d6280afeb2dc122674df5a0e01892da1b5c585ad77b796fa819d52ad9d9bd



The SafeMoon whale that possesses $60,000,000 worth of $SFM originally bought the tokens during the presale for a $500 Initial investment. That’s an astonishing 12,099,900% return.  This whale is supposed to be selling its holding that has made the safe moon fall sharply.

London Capital Group Head of Research Jasper Lawler told Bloomberg in July:

“The manual burns, alongside the company having a pretty large stake in the coins, just speaks to me of a manipulation risk, Whenever there’s some sort of mechanism to stop selling, that’s a bit of a warning sign.”

It’s a cryptocurrency built for holding, but with the price sinking and moving against most of the momentum of the wider market, SafeMoon’s holders seem to be selling. Daily trading volume for SafeMoon fell below $10 million for multiple days last week.

24 hours trading volume for the coin stands at $25,465,824.07, up 135.50% from the previous session.

The price change is -18% in the last 24 hours.

safemoon price fall

Image source: Coinmarketcap

 

According to Coinmarketcap data, the current market cap of Safemoon stands at $1,453,443,967 USD, with 585,536,366,402,812 SAFEMOON coins in circulation and a max. supply of 1,000,000,000,000,000 SAFEMOON coins.

SafeMoon Protocol is a decentralized finance (DeFi) token. According to the SafeMoon website, SafeMoon has three functions that take place during each trade: Reflection, LP Acquisition, and Burn. SafeMoon launched on Mar. 8, 2021, with a SafeMoon price of $0.0000000010 and a supply of 777 trillion SafeMoon tokens.

Binance CEO Is Giving Away A Custom Dogecoin-Themed Tesla And $50,000 In Doge To Win The Hearts Of Annoyed Dogecoin Community

Mark Brennan
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Binance CEO Is Giving Away A Custom Dogecoin-Themed Tesla And $50,000 In Doge To Win The Hearts Of Annoyed Dogecoin Community

Binance CEO, Changpeng Zhao is giving away 50,000 in Doge and a Doge modified custom Tesla, Which one do you want??



While it hasn’t been mentioned which Tesla model will be awarded to the winner, it’s quite possible that Model 3 is in the $50,000 range. Currently, Tesla has four models, S, 3, X, and Y.

The relationship between Binance and Dogecoin users was troubled during the month of November. Earlier this month TheCryptoBasic reported that Binance was freezing its Dogecoin users’ accounts due to an internal error.

Because of banning Doge withdrawals, an influential supporter of Dogecoin, Elon Musk came forward to speak for the Dogecoin community and the Elon Musk Debate went hot over Dogecoin withdrawal issues with Changpeng Zhao.

After harsh responses between the two billionaires via Twitter, CZ tried to cool the fight as Binance was finally able to resume dogecoin withdrawals after almost 18 days. In an interview with Yahoo, CZ said that although he is a Musk fan, it was his job to defend his company while Musk is right in defending the Dogecoin community.

 

CZ is Giving Away A Custom Doge Tesla And 50,000 Worth of Dogecoins

CZ announced a giveaway via Twitter to win the hearts of annoyed dogecoin Binance users. CZ is giving away a personalized Dogecoin-themed Tesla and $50,000 in dogecoin.

To participate, you must comply with certain terms and conditions, such as following both Musk and CZ on Twitter, as well as the official Binance account and using the two hashtags #DOGEorTesla and #Binance. You must also have a verified KYC Binance account.

“I’m giving away a DOGE Tesla and $50,000 in DOGE. Which one do you want?”

 

In this way, CZ is trying to make peace with both Elon Musk and the Dogecoin community. In addition, he also succeeded in doing great marketing for his exchange. His tweet already has 100,000 retweets, more than 65,000 likes and the video has got more than 2 million views.

 

Glassnode Report Shows Bitcoin November Correction Is Unlikely To Continue

Albert Brown
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Glassnode Report Shows Bitcoin November Correction Is Unlikely To Continue

Glass node detailed report shows that Bitcoin’s November correction is unlikely to continue. This current market correction is actually the least severe in 2021.


The deepest pullback this year came in May-July when bitcoin fell -54% from its high. In September, the decline reached -37.2%. BTC Corrections in January, February, and April reached -29.4%, -24.2%, and -26.5% respectively . The current correction in November barely exceeded 20%.

market correction 1

Image Source Glassnode

Open interest (OI) for bitcoin options in October-November varied in the range of $12 billion- $14 billion before declining to $10 billion after expiration on November 26.

Futures’ open interest is also just below all-time-highs when denominated in BTC, reaching just above 400k BTC in total nominal value.

Highlighted in the chart below are a number of short and long squeezes, where open interest rapidly decreased as price volatility forced traders to cover their positions. With leverage in futures markets near an ATH, there is a risk that leverage may unwind, as has been demonstrated in almost all prior instances where open interest surpassed 350k BTC in size.

market correction 2

Image Source Glassnode

 

Funding rates for perpetual contracts indicate a slight overweight of long positions. The indicator declined along with the fall in price, which indicates a more cautious attitude of traders.

However, whilst funding is positive, the decline is considerably notable, which doesn’t rule out the possibility that a large portion of the market is net short as price declines. It is reasonably plausible for a leverage squeeze to play out in either direction given this observation.

market correc 3

Image source Glassnode

Analysts drew attention to the increasing dominance of the Chicago Mercantile Exchange (CME) in the bitcoin futures market. In terms of OI, the market share of this regulated platform has grown from 10% at the beginning of September to the current 19.3%. In terms of trading volume, the share of CME during this period increased from 1.4% to 6%.

market correct 4

Image source Glassnode

 

Over the past week, the bitcoin price tested the level of $53,500, which coincides with the purchase price of BTC by short-term investors. Analysts noted that this week, BTC price traded to a low of $53.5k, which does suggest a potential front-running of that psychological cost basis support level was in play. This is now the second retest of the STH Realised Price in the current trend, and if held, has similarities to major corrections observed in 2017, where it acted as a reliable support.

market corrc 5

Image Source Glassnode

According to analysts, there are two events in play for realized profits and losses. Realised Profits (green) have declined alongside the correction, potentially signaling reducing profit-taking, and growing investor conviction.

Realized Losses spiked (pink) to $800M per day, similar to significant sell-offs in April, and July, but much lower than the major sell-off in May. This suggests a reasonable flush out of spot top buyers has occurred but does not rule out further sell-side.

A rise in prices will reduce the likelihood of a negative scenario. The key will be to keep the price above the $53,000 level, analysts added.

market correc 7

Image Source Glassnode

According to experts’ calculations, 13.35 million BTC are at the disposal of long-term investors. Since its peak in November, this category of market participants got rid of 5.8% of purchased coins.

market correct 8

Image Source Glassnode

In a conclusion, Both Long and Short-term Holders are holding more profitable supply than September’s correction, which can generally be viewed as constructive for price.

Earlier, the founder of SkyBridge Capital Anthony Scaramucci saw the last correction as an opportunity to build up positions. In his opinion, cryptocurrencies have the fundamental potential for further growth.

 

 

Bigger Entertainment’s Scheduled Next Shiba Inu Burn Party

Zabi
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Bigger Entertainment’s Scheduled Next Shiba Inu Burn Party

Steven Cooper, the owner of Bigger Entertainment (The First Crypto Record Label), has arranged a very Merry SHIBA Christmas Party.



According to the tweet from Steven Cooper, the following are the 3 ways one can contribute towards the next SHIB Burn party.

  1. Buy A Burn Ticket – http://Biggerentertainment.com/events
  2. Buy Merch – http://Biggerentertainment.com/store
  3. Discover Music – http://Biggerentertainment.com/playlists

 

The next burn party is scheduled for Sun. Dec. 26th @ 2pm CST. Bigger Entertainment will burn SHIB live on air.

 

Steven Cooper Shib’s burning campaign has already burned Millions of SHIB since in less than two months.

 

The point of a burn party is to burn as much SHIB as possible as a community, and drive the SHIB Price higher. Bigger Entertainment will keep on arranging these kinds of Burn Parties until and unless SHIB Price reaches $0.01.

Shiba Inu Price Skyrockets as Newegg And Kraken Added Support For SHIB

Zabi
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0
Shiba Inu Price Skyrockets as Newegg And Kraken Added Support For SHIB

Shiba Inu (SHIB), a Japanese dog breed inspired token, price is skyrocketing right now with 35.88% gains for the day as major online retail giant Newegg Commerce Inc. officially confirmed that it will accept Shiba Inu via Tweet.


Newegg currently accepts 11 cryptocurrencies, including Bitcoin, Dogecoin, and Shiba Inu.

The internet retailer started to accept Bitcoin (BTC) as a payment option in 2014. In April of this year, it also add support to Dogecoin. (DOGE).

 

The other news responsible for this surge in price is Kraken.

Kraken added Shiba Inu (SHIB) to its trading platform saying:

“$SHIB deposits begin NOW! Trading is live November 30.”

 

Kraken is a United States-based cryptocurrency exchange and bank, founded in 2011. The exchange provides trading between cryptocurrency and fiat currencies and provides price information to Bloomberg Terminal.

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