Home Blog Page 2584

Grayscale Forms First Cryptocurrency Partnership in NFL History with New York Giants

Mark Brennan
-
0
Grayscale Forms First Cryptocurrency Partnership in NFL History with New York Giants

The New York Giants have become the first National Football League team to form a cryptocurrency partnership. The team has just announced its tie-up with crypto money manager Grayscale in its May 5 press release.


Grayscale will act as a presenting sponsor for the Giants Foundation’s annual golf outing, which gathers coaches and players to raise awareness and funds. Since its creation in 1993, the foundation has been assisting in various charitable causes throughout the New York metropolitan area. It will also be Giant’s presenting home game sponsor and a supporting sponsor of the team’s training camp.

The money manager was the best choice for the Giants to navigate through the crypto ecosystem, according to CCO Peter Guelli:

During our extensive evaluation of the space, we determined that we not only wanted a partner that understood the value of aligning with the Giants brand, but also could guide us in navigating the cryptocurrency ecosystem. Grayscale quickly emerged as a company that shares our passion for the New York market but also has the institutional knowledge and network of partners that we can access as crypto continues to evolve.

Grayscale will host educational seminars for the Giants on an annual basis.

Source

Founder Of WallStreetBets Subreddit Will Launch A dapp To Invest In ETP

Mark Brennan
-
0
Founder Of WallStreetBets Subreddit Will Launch A dapp To Invest In ETP

Jaime Rogozinski, founder of the r/WallStreetBets community on the Reddit media platform, will launch a decentralized exchange product (Dapp) for investment in Exchange traded fund (ETP).


The WallStreetBets Dapp is based on the decentralized autonomous organization model. App users will be able to vote using WSB governance tokens.

 

According to the press release, the product is aimed at combating stock market manipulation. The application is based on blockchain technology, but is intended for investments in traditional securities.

“Renowned members of the WallStreetBets community are working with financial technology and blockchain experts to create exchange-traded products. Despite the similarities to ETFs, ETPs can be managed in a fully decentralized manner, ” the message says.

Recall that in January 2021, members of the WallStreetBets community provoked a three-digit growth in the shares of GameStop. This is how retail traders fought big players who were short.

New York Bill Proposes To Freeze Crypto Mining For Three Years

Mark Brennan
-
0
New York Bill Proposes To Freeze Crypto Mining For Three Years

New York Senator Kevin S. Parker drafted a bill to suspend cryptocurrency miners across the New York state for 3 years. The draft was transferred to the Environmental Protection Committee for evaluation.


In the draft submitted to the Senate on May 3, it is proposed to evaluate the crypto mining environmental impact.

If the bill is passed, crypto mining facilities that do not meet New York’s emission targets will not be allowed to mine.

The Bill States:

“A single cryptocurrency transaction uses the same amount of energy that an average American household uses in one month, with an estimated level of global energy usage equivalent to that of the country of Sweden.”

Senator Parker proposes that cryptocurrency mining should be suspended for 3 years across the state. During this time, we will examine how mining facilities affect gas emissions, water, air quality and wildlife in the region.

As a result of the evaluation, mining facilities that are found violating the Climate and Community Protection Law approved in 2019 will not be allowed to mine.  The Act set targets like 70% renewable energy by 2030 and 100% zero-emission electricity by 2040. Also, the act aims to reduce 22 million tons of carbon through electrification and energy efficiency.

It is aimed that by 2030, 70% of the total electricity used in New York will be supplied from renewable sources.

According to CoinDesk report, 19 megawatts of natural gas is being burned in an old coal power plant in Finger Lakes to mine cryptocurrencies. The endeavor has proven so profitable that site operator Greenidge Generation is planning to boost capacity to 500 megawatts by 2025.

“The fight over Greenidge’s expansion plan foreshadowed what could be a monumental blow to New York’s miners – one that if successful would freeze every commercial mining operation in the state and likely threaten those found to be irreconcilable with the state’s climate and environmental goals.

Just two weeks ago, the operator convinced local politicians to approve its expansion plan without subjecting it to an environmental review. Environmentalists were aghast. The politicians said they were too. But their hands were tied by state law.

“We got all the same issues you do,” David Granzin, chairman of the planning board in the upstate town of Torrey, which is located near the Greenidge plant, told skeptical attendees at the approval hearing, according to Binghamton NPR affiliate WSKG.”

“We know that Bitcoin is a big waste of energy, but we’re bound by the law. We have to follow the rules,” Granzin said.

 

Ripple Appoints Rosie Rios Former Treasurer Of The USA To Board Of Directors And Kristina Campbell As Chief Financial Officer

Mark Brennan
-
0
Ripple Appoints Rosie Rios Former Treasurer Of The USA To Board Of Directors And Kristina Campbell As Chief Financial Officer

Ripple announced new members that have joined the leadership team. Rosa Rios, the 43rd United States Treasury Officer joins Ripple board of directors, and Kristina Campbell has been appointed as the new CFO.


 

Rios brings 30 years of unparalleled experience and expertise in public policy and investment management to Ripple. Rosa Rios was the 43rd United States Treasury Officer under the Obama administration. She is the fifth Latino woman in history to be a finance minister, and is the first in the United States to be instrumental in printing women portrait on dollar bills and received the Hamilton Award, the U.S. Treasury’s highest honor.

Rios expressed her thoughts:

“I’ve dedicated my career to financial inclusion and empowerment, which requires bringing new and innovative solutions to staid processes. Ripple is one of the best examples of how to use cryptocurrency in a substantive and legitimate role to facilitate payments globally,. Blockchain and crypto will underpin our future global financial systems. Cryptocurrency is the what. Ripple is the how.”

Campbell who became Ripple Chief Financial Office has a background of serving as CFO at multiple fintech companies such as PayNearMe and GreenDot. Campbell will drive Ripple’s financial strategy, accelerate growth and deliver value to shareholders as business momentum continues to grow globally

Campbell Said:

“Cryptocurrency and blockchain technology allow us to rethink and improve the systems and infrastructure around how money moves. With this technology, we will make the global financial system accessible to all. Ripple is uniquely positioned to improve global payments in ways that have yet to be defined and I’m excited to be a part of that solution.”

 

Brad Garlinghouse, Ripple CEO was thrilled to have new members on Board.

“Experience in the public and private sectors is a very valuable perspective for Ripple, Team building is crucial in a rapidly advancing business. We are extremely fortunate to have them on the team as we continue our rapid international growth and to champion for regulatory clarity in the U.S”

 

E-Commerce Giant eBay Is Considering Cryptocurrency Payments And NFT Marketplace

Mark Brennan
-
0
E-Commerce Giant eBay Is Considering Cryptocurrency Payments And NFT Marketplace

eBay CEO Jamie Iannone said in an interview with CNBC that eBay is considering to offer cryptocurrency payments and NFT (non-fungible token) trading platform.


eBay is an e-commerce site that has been popular since the dawn of the Internet. It is also a NASDAQ listed company.

Adding Apple Pay and Google Pay on eBay, he said that eBay will consider crypto payments.

He said:

“We are always looking at the most relevant forms of payment and will continue to assess that going forward, We have no immediate plans, but cryptocurrency is something we are keeping an eye on.”

Iannone pointed out that although some NFT sales are already done on eBay, there are cases where some NFT transactions are done off-site.

He Said:

“We’re exploring opportunities on how we can enable [NFTs] on eBay in an easy way, Everything that’s collectible has been on eBay for decades and will continue to be for the next few decades.”

eBay was a member of the Libra Foundation in the past, but announced its withdrawal in October 2019 due to concerns over regulatory compliance.

S&P Dow Jones Launches Bitcoin and Ethereum Indices

Mark Brennan
-
0
S&P Dow Jones Launches Bitcoin and Ethereum Indices

S&P Dow Jones Indices, a division of US financial data provider S&P Global, has launched indices based on Bitcoin, Ethereum.

Products under the S&P DJI brand use data and calculation methodology from the New York firm Luka. The companies agreed to cooperate in December 2020.


The S&P Digital Market Indices measure the performance of digital assets listed on recognized open exchanges.

The index series includes the following:

S&P Bitcoin Index: The index measures the performance of Bitcoin.

S&P Ethereum Index: The index measures the performance of Ethereum.

S&P Crypto Mega Cap Index: The index measures the performance of Bitcoin and Ethereumdigital assets.

Ticker:

S&P Bitcoin Index: SPBTC

S&P Ethereum Index: SPETH

S&P Crypto Mega Cap Index: SPCMC

Indexes are calculated in points, not in US dollars. According to S&P representative Ray McConville, instead of the actual cost, they reflect the increase in prices.

The data is calculated on business days. They will be available by subscription for the service’s customers. Rebalancing is performed quarterly.

The tools will compete with their counterparts from Bloomberg and Galaxy.

How the Launch of S&P Dow Jones Crypto Indices will Change the Bitcoin Industry is yet to be seen.

Recall that in December 2020, CBOE announced the creation of cryptocurrency indices.

 

Top 6 Altcoin To Follow This Week

Albert Brown
-
0
Top 6 Altcoin To Follow This Week

The cryptocurrency market has entered this week behind Ethereum (ETH) great bull march. As Bitcoin price recovered above 50K, Bitcoin’s market share is sitting at 47.32%, and the altcoin market continue to grew. The total value of crypto market exceeded $2.35 trillion.


The 6 altcoin that can be followed this week are Uniswap, Stellar, Tron, Cosmos, Syscoin, and My Neighbor Alice.

Uniswap (UNI)

News This Week: Uniswap is preparing to switch to v3 on May 5th.

Why To Follow: Uniswap v3 will bring features such as liquidity concentration, multiple transaction fee tiers that will make capital use up to 4,000 times more efficient. Uniswap’s founder, Hayden Adams, said in his post on Sunday that the update will include a “surprise feature”.

 

Stellar (XLM)

News This Week: Stellar will go for an update on its test network on May 4th.

Why to follow: The Stellar team announced the transition to Protocol 17. The update will be actively tested for about 1 month, will be voted by the validators on June 1.

Key dates for transition to Protocol 17 are:

  • May 4, 2021 — Testnet upgrade.
  • June 1, 2021 — Public network upgrade vote.

Read More: https://www.stellar.org/developers-blog/protocol-17-upgrade-guide

Tron (TRX)

News This Week: Tron announced the third phase of 5-In-1 Century Mining. The third leg of the event will start on Monday, May 3rd, 2021 21:00, till Jun 7th, 2021 20:59 (SGT)

Why To Follow: TRON Century Mining gives you the chance to earn the five mainstream TRON tokens TRX, BTT, JST, SUN, and WIN in one go.

Read More: https://tronfoundation.medium.com/tron-century-mining-5-in-1-phase-3-is-now-live-join-and-share-ultra-high-rewards-c61e709a9674

Cosmos (ATOM)

News This Week: Cosmos will launch a trading tournament at Gravity DEX on May 4th.

Why To Follow: A total of $200,000 ATOM will be distributed to the winners of the event that will last until May 11. Gravity DEX, which uses the Inter-Blockchain Communication (IBC) protocol, is still in the testing phase. This trading event will serve as a pre-launch rehearsal for Gravity DEX.

Visit: https://gravitydex.io

Syscoin (SYS)

News This Week: Syscoin will make a biggest announcement of the year on May 6, 3PM UTC time.

Why To Follow: Blockchain Foundry and Syscoin Foundation launched the Syscoin LUX version on May 1 to establish a non-fungible token (NFT) infrastructure. Syscoin posted a message 2 days before that, saying, “Watch out for May 6. We will make one of our biggest announcements this year.” 

 

My Neighbor Alice (ALICE)

News This Week: My Neighbor Alice has announced that digital Lands will go on sale this week.

Why To Follow: This event in My Neighbor Alice was scheduled to start last week. However, the team said that more tests and inspections were needed, and postponed the date to 8th May. Those who wish to enter will be able to stake ALICE on the Alice platform that is expected to open this week and purchase digital land.

Read More: https://myneighboralice.medium.com/my-neighbor-alice-land-sale-rescheduled-to-facilitate-audits-and-testing-63dcc97879fa

Ripple (XRP) Now Accounts for 3% of the Total Cryptocurrency Market Cap

Albert Brown
-
0
Ripple (XRP) Now Accounts for 3% of the Total Cryptocurrency Market Cap

The market capitalization of the fourth largest crypto in the world is almost $75 billion that makes Ripple (XRP) account for 3.2% of the total cryptocurrency market cap.


Over the past 7 days, XRP has jumped more than 40% becoming the world’s 4th most valuable digital currency. XRP is currently trading above $1.6 with a market capitalization of over $74.24 billion.

According to Coinmarketcap, XRP’s market cap has grown significantly over the past few weeks. XRP now accounts for almost 3.2% of the total market capitalization of digital currencies.

Bitcoin remained the most dominant crypto with approximately 47.8% market dominance. Currently, the market dominance of Ethereum is about 15.6%, followed by Binance Coin (BNB) with a dominance of 4.2%.

The price of XRP has increased by more than 500% since the beginning of this year. XRP was trading at around $0.23 on January 1, 2021. The price gained momentum in April, when the digital currency jumped from $0.569 to $ 1.94, the highest level in more than 3 years.

XRP’s overall market dominance has been growing since the beginning of April. The latest surge in Ethereum, BNB, and XRP is causing a sharp decline in Bitcoin’s market dominance.

According to Coinshares report, XRP had a significant jump in weekly institutional inflows in April, as the digital asset raised an estimated $33 million in the second week of April.

XRP weekly institutional inflows

The total difference between the market capitalization of XRP and Binance Coin (BNB) is around $20 billion.

Overall, the market capitalization of digital currencies reached $2.25 trillion on Monday, the highest ever.

Bitcoin (BTC), currently has a market cap of more than $1.10 trillion.

If You Had Bought $10, $100 or $1000 Worth of Ethereum 5 Years Ago, Here Is How Much You Would Have Made Today

Mark Brennan
-
0
If You Had Bought $10, $100 or $1000 Worth of Ethereum 5 Years Ago, Here Is How Much You Would Have Made Today

Cryptocurrency is booming right now, and everyone wants to talk about crypto in finance.

Those who are just starting in crypto surely think of ignoring the opportunity to invest in crypto years before.


Ethereum is a decentralized blockchain. It supports thousands of crypto coins, NFTs, including ETH coin that are built on ETH blockchain. It is the second largest cryptocurrency after Bitcoin with a marketcap of $358,663,210,487. Today ETH crossed 3k USD for the first time ever.

Read Also: Ethereum Crosses PayPal Market Cap

ETH Worth 5 Years Ago

According to historical data from Coinmarketcap, five years ago (May 3, 2016), the price of ETH was $7.10 per coin. If you bought the currency for $10, you would have 1.4 ETH.

ETH Worth Today

The price of Ethereum as of May 3rd, 2021 is $3,100 per coin. This is 436 times more than five years ago-an increase of about 43,600%.

If you had bought $10 worth of ETH 5 years ago, here’s how much you would have today.

If you bought $10 worth of Ethereum five years ago, today you would have about $4360 ($10 x 436). It’s not exactly retirement money, but not bad for a $10 buy-in.

For those who then saw the potential in cryptocurrency and really wanted to purchase ETH early, they could probably had made much more.

Five years ago, $100 worth of Ethereum, if left untouched, would be around $43,600 today.

Five years ago, $1000 worth of Ethereum, if left untouched, would be around $436,000 today, enough to sustain an annual living cost of $36000 for next 12 years.

XRPL Reserves Reduction: Ripple CTO And XRPL Labs Head Join In Voting

Mark Brennan
-
0
XRPL Reserves Reduction: Ripple CTO And XRPL Labs Head Join In Voting

The XRPL account reserve threshold can be lowered to 10 XRP, but If the reserves are too low, the XRPL network is susceptible to DDoS attacks.

Witse Wind, a lead developer of the XRPL Labs team responsible for creating the XRP Ledger tools, shared his opinion on reducing the “XRPL reserves.”


The XRPL account reserve threshold can be lowered to 10 XRP.

Mr. Wind tweeted that he supports the position of Ripple’s chief technology officer, David Schwartz, on the need to reduce ” XRPL reserves.”

Ripple’s chief technology officer, David Schwartz tweeted about decreasing XRPL account reserve threshold on April 11th.

 

“XRPL reserves” is defined as the minimum amount of XRP stored in an XRPL account to perform specific actions in the XRP blockchain.

While today it is equal to 20 XRP, the validator, managed by Mr. Wind, votes for this number to be reduced to 10 XRP.

Mr. Wind argues:

  • Instead of an account reserve of 20 XRP, my validator is now voting for 10 XRP.
  • Instead of an owner reserve of 5 XRP (Trust Lines, Escrows, Offers), my validator is now voting for 2 XRP.

 

If the reserves are too low, the XRPL network is susceptible to DDoS attacks. In addition, the vote may review the “reference fee” or the number of XRP tokens destroyed to authorize the reference transaction.

Portal XRPL.org of XRP Ledger emphasizes that if validators approve thresholds that are too low for these metrics, it could expose XRP Ledger to denial-of-service attacks. With a bit of minimum holding, it would become effortless to initiate “dusty” transactions.

Mr. Wind added that Alloy Networks, an influential validator of the XRP Ledger, also supports reducing the XRPL account reserve threshold.

1...2,5832,5842,585...2,625Page 2,584 of 2,625