Bitcoin News and Finance: What You Need to Know

PRESS RELEASE. Singapore – A fast-growing cryptocurrency trading platform, MCS ( https://mycoinstory.com ), which offers a variety of inverse and quanto perpetual contracts, has announced to launch a trading competition from June 23, 2021 to July 7, 2021 to celebrate its one year anniversary and introduction of their native token. The registration begins June 15, 2021. The ‘MCS Day! Trading Competition’ is comprised of a prize pool of 30,000 USDT and 1 million MCS tokens. The competition is applied to all inverse and quanto perpetual contracts on the MCS trading platform. The prize pool is split between traders with the highest profit rates and the highest trading volume. This competition remarks its uniqueness by airdropping the MCS token. MCS token is a CeFi & DeFi token that will be used for the upcoming DeFi services and the MCS trading platform. The stability of the MCS token has been thoroughly audited by Certik, a global blockchain and cryptocurrency security company, ...

In the latest twist to the Mirror Trading International liquidation saga, Clynton Marks, a co-owner of the bitcoin Ponzi outfit, has opposed attempts to have a court grant a final liquidation order. Marks, who reportedly owned 50% of MTI, argues that the liquidation application was “premature” and that liquidators may “not have the members’ best interests at heart.” The Argument Against Liquidation As explained in a Mybroadband report , Marks, who recently battled a team of MTI liquidators in a South African court, argues that the liquidation notification process was not properly carried out. Marks asserts that he and his wife, Cheri Marks (Head of Communications for MTI), were supposed to be served with the notice. In addition, the MTI co-founder says that the recovery of 1,200 bitcoins belonging to MTI from FX Choice nullifies the liquidators’ insolvency argument. In their statement to Mybroadband, the Markses added: MTI is a solvent company and any chance of members (however ...

Billionaire investor and Shark Tank star Mark Cuban has called for cryptocurrency regulation focusing on decentralized finance (defi) and stablecoins after a token he invested in collapsed from $64 to near zero. Cuban Wants Defi and Stablecoin Regulation After Investing in Collapsed Token The billionaire owner of the NBA team Dallas Mavericks, Mark Cuban, invested in a token that crashed from about $64 to near zero Wednesday. Iron Finance called the collapse of its iron titanium token (TITAN) “the world’s first large-scale crypto bank run.” The price of the token is $0.000000029585 at the time of writing. Responding to a tweet asking whether he “rugged” or “got rugged” on Iron Finance’s token, Cuban wrote: “I got hit like everyone else. Crazy part is I got out, thought they were increasing their TVL [Total Value Locked] enough. Then bam.” The billionaire investor has been fascinated by defi for quite some time. He wrote a blog post on June 13 touting the potential of defi innov...

Antivirus tycoon John McAfee says he has no hidden cryptocurrencies, no assets left as there were all seized by the Feds, no friends, and no regrets. He has shared his story from prison, where he says he has “never felt more free.” McAfee Says He Has No Cryptocurrencies, No Assets, No Friends but Also No Regrets John McAfee is still in a Spanish prison after he was arrested in October last year. He was charged by the U.S. Securities and Exchange Commission (SEC) with fraudulently pumping initial coin offerings (ICOs) and was indicted by the U.S. Department of Justice (DOJ) for “tax evasion and willful failure to file tax returns,” fraud, and money laundering conspiracy crimes. Early this month, the National Court of Spain suspended his extradition hearing. McAfee tweeted from prison Wednesday: The US believes I have hidden crypto. I wish I did but it has dissolved through the many hands of Team McAfee (your belief is not required), and my remaining assets are all seized. My f...

Actor and bitcoin investor Neil Patrick Harris has partnered with a leading cryptocurrency ATM operator to help people see “how easy and accessible it is to invest in cryptocurrency and join the future of finance.” Harris also shared how he got into bitcoin. Neil Patrick Harris Partners With Bitcoin ATM Operator Coinflip Coinflip, one of the largest cryptocurrency ATM operators, announced Tuesday a partnership with actor and long-time crypto investor Neil Patrick Harris, to launch a marketing campaign with the actor as the spokesperson. Founded in 2015, Coinflip currently operates over 2,200 cryptocurrency ATMs across 47 U.S. states supporting the buying and selling of nine cryptocurrencies with cash. Harris is best known for his TV roles in “Doogie Howser M.D.” and “How I Met Your Mother,” although he has over 100 acting credits under his belt, including movies like “Starship Troopers” and the “Harold & Kumar” franchise. Also famous for starring in 12 broadway productions, he ...

Yield Guild Games, an online gaming guild, has raised $4 million to power its play-to-earn proposal in a Series A funding round. The funding round was led by Bitkraft, a venture capital company specializing in e-sports investments. Other blockchain and crypto-related companies also participated. The company plans to include more gamers in its activities with these new funds. Yield Guild Games Raises $4 Million in Series A Funding Round Yield Guild Games, an online gaming guild, has managed to raise $4 million in its series A funding round, according to a company blog post. The round was led by Bitkraft , an e-sports and interactive world venture capital fund. The funding round also saw participation from Atelier Ventures, Fabric Ventures, Greenfield One, IDEO CoLab, Mechanism Capital, ParaFi Capital, and Third Prime Capital. With these funds, Yield Guild Games plans to further deepen its sponsorship of players. This will enhance its play-to-earn proposal. Yield Guild Game’s busine...

PRESS RELEASE. DeFi11, a decentralized gaming ecosystem, is introducing major changes to both revamp the platform and make it fairer to users as part of an expansion fuelled by recent funding. 17th June 2021, New Delhi, India – Fantasy sports have gained massive popularity in recent years. The market is expected to grow by 7% by 2024. However, a lack of regulation has allowed companies to exploit users. Many fantasy sports and virtual gaming platforms have been accused of publishing false volumes, creating fake winners, and misusing user data. DeFi11 was created to stop these unfair practices, providing a safe platform for the users. Powered by blockchain, DeFi11 eliminates centralization and maintains user privacy. In addition, DeFi11 will tokenize gaming assets using non-fungible tokens (NFTs), allowing users to access features like liquidity pools, prediction-based smart contracts, and staking. Touted as the first DeFi-powered fully decentralized gaming ecosystem in the worl...

The U.S. Securities and Exchange Commission (SEC) is currently seeking additional commentary from the public, as the regulating body ponders the Vaneck bitcoin exchange-traded fund (ETF) decision. In a notice published on Wednesday, the SEC thinks “interested persons” should provide comments on the proceedings. SEC Is Looking for Comments Concerning Vaneck’s Proposed Bitcoin ETF Listing In December 2020, New York-based investment management firm Vaneck filed with the SEC to list a bitcoin ETF. Following the original filing, in March 2021, the Chicago Board Options Exchange (Cboe) applied to list the Vaneck Bitcoin Trust. Then at the end of April, as the U.S. regulator was determining whether or not it would reach a conclusion on the Vaneck ETF, the SEC gave itself 45 more days to decide. The SEC’s order detailed that the notice of designation has been postponed to June 17, 2021. The regulator could increase it to a “longer period up to 90 days” the notice said. “As the Commissio...

The Iron Titanium token (TITAN) value has quaked a great deal after the project suffered from what the team called “the world’s first large-scale crypto bank run.” After touching a high of $64 per token on Wednesday, the project slid to near zero and remained worthless on Thursday afternoon. Iron Finance Claims Project Suffered from a ‘Bank Run’ The world of decentralized finance (defi) is exciting but it also comes with major risks stemming from smart contract exploits, flash loans , and alleged bank runs. That was the case for the Iron Finance project, as the team’s native token lost all of its value in a matter of hours. On Wednesday, the Iron Finance team explained what happened on Twitter and then followed up with a post mortem on Thursday. “Dear community, please withdraw liquidity from all pools. We will share a post-mortem as soon as we have a better understanding of this bank run,” the official Twitter account noted on Wednesday. “USDC collateral is available for redempt...

The World Bank has refused to provide technical assistance to El Salvador in implementing bitcoin as legal tender. The bank cited bitcoin’s “environmental and transparency shortcomings” as the reason. World Bank Won’t Help El Salvador With Bitcoin Law The World Bank said on Wednesday it cannot help El Salvador implement the law making bitcoin legal tender. A World Bank spokesperson told Reuters, “We are committed to helping El Salvador in numerous ways including for currency transparency and regulatory processes,” elaborating: While the government did approach us for assistance on bitcoin, this is not something the World Bank can support given the environmental and transparency shortcomings. El Salvador has become the first country in the world to make bitcoin legal tender after its congress passed President Nayib Bukele’s bitcoin bill last week. On Wednesday, The finance minister of El Salvador, Alejandro Zelaya, said that the country has sought technical assistance from the ...

The House Republicans’ campaign arm said on Thursday that it will be accepting cryptocurrencies using the payment processor Bitpay. The National Republican Congressional Committee (NRCC) is a lobbyist organization aimed at supporting the election of Republicans to Congress, via direct financial contributions to candidates and the Republican Party. NRCC to Accept Crypto Donations but Funds Will Be Converted and Deposited in US Dollars Republican bureaucrats are willing to accept donations in digital assets to help fuel their political elections. On June 17, the NRCC revealed it would be taking financial contributions in the form of cryptocurrencies, but the funds will be immediately converted into U.S. dollars before the money enters the NRCC’s treasury. Bitpay will facilitate the process according to the announcement, and even though the group is not officially receiving the crypto assets to hold, the NRCC believes it makes the payment process more seamless. Rep. Tom Emmer (R-Min...

The UK’s Financial Conduct Authority (FCA) has published a research report that reveals crypto asset ownership has increased a great deal. According to the study, crypto ownership spiked more than 27% since last year as the FCA’s estimates show 2.3 million adults hold digital currencies, up from 1.9 million in 2020. United Kingdom’s Regulator Publishes 2021 Crypto Consumer Report The financial regulatory body in the United Kingdom that oversees 58,000 financial services firms and financial markets has published a report that covers the crypto asset economy. Not only does it show crypto ownership has increased a great deal since last year, but the study also shows people consider digital currencies an “alternative to mainstream investments.” The consumer research notes that attitudes toward cryptocurrencies have changed. “38% of crypto users regard them as a gamble (down from 47% last year),” the FCA report discloses. “By contrast, the level of overall understanding of cryptocurr...

The Sandbox is a decentralised, community-driven gaming ecosystem where designers and artists can create, share and monetise NFTs and gaming experiences on the Ethereum blockchain and is partnered with many industry giants, such as Square Enix and Atari. Its popular virtual real estates, known as LANDs, are taking over the NFT world. Exclusive Bitcoin.com giveaway For a chance to become a LAND owner next to the Gemini ESTATE for free, all you have to do is create an account through this tracking link and press “Sign In” in the top right corner and create your account with your preferred login method. What are LANDs? A LAND is a digital piece of real-estate in The Sandbox’s metaverse, each one is a unique, non-fungible ERC-721 token on the Ethereum blockchain. Amongst other things, these LANDs can be developed upon by their owners and monetised. For example, a game, diorama or an art gallery could be built on these LANDs, to give just three examples. A group of adjacent LANDs co...

Iran’s information technology minister has pitched the idea of transforming the Persian Gulf island of Kish into an international center for cryptocurrency exchanges. Iranian authorities plan to create a financial free zone in the territory which has already attracted cryptocurrency miners. Iran ICT Minister Says Gulf Island of Kish Has What It Takes to Be a Crypto Exchange Center Muhammad Javad Azari Jahromi, the Islamic Republic’s minister for information and communications technology, made the crypto-friendly proposal during a recent visit to Kish. The 91-square-kilometer island, situated off the Persian Gulf coast in Southern Iran, already hosts one of the country’s free trade zones. The official was quoted by IRNA news agency as saying: Kish has the infrastructure to emerge as a hub for international crypto exchanges in the region. Authorities need to start talks with neighboring countries. Kish Island is a popular travel destination in the Persian Gulf, with numerous shopp...

As part of an initiative that seeks to build the crypto and blockchain space talent base, the Decentralized Autonomous Organization (DAO1), a community-led protocol, will be holding a major collaborative computer programming or a hackathon. Organizers are hoping this event will help to create a buzz about cryptocurrencies and blockchain technology. To understand more about the hackathon , Bitcoin.com News’ columnist Terence Zimwara reached out to Leo Gordon, the Chief Strategist at DAO1. Below are Gordon’s responses to a set of written questions. Terence Zimwara (TZ): Could you start by explaining what the DAO1 Hackathon is all about? Leo Gordon (LG): The DAO1 hackathon is an initiative to promote innovation in the crypto space. We encourage the community to submit their next big product ideas and even work on them, while we provide them with the necessary resources to turn such ideas into reality. The DAO1 hackathon is more of an outreach program with incentives for participants....