Bitcoin News and Finance: What You Need to Know

As Unicly advances NFT combination, fractionalization, and trading, an integration with Sushiswap’s auction platform is designed to promote better pricing conditions for utoken creators and buyers. Collaboration Designed to Improve NFT Price Discovery Process Despite the cooling hype surrounding NFTs, there has been no shortage of innovation in the space as non-fungible token projects explore other use cases. Echoing the fractionalization that blockchain technology champions in other areas, up-and-coming projects are embracing similar methodologies in the NFT arena. Fractionalization of NFTs effectively means splitting a single NFT, or a collection of NFTs, into smaller, fractional pieces that can be bought and sold in primary and secondary market transactions. Instead of users having to spend enormous sums on a single NFT, this solution gives investors a practical way to gain exposure and fractional ownership of the work or collection of works. Unicly , a permissionless protocol,...

xDAO is an innovative DeFi platform which allows anyone to easily create Decentralized Autonomous Organizations – DAOs – for the joint management of crypto assets. The platform is powered by BSC, ensuring low transaction costs, high reliability and sufficient speed. An Easy Way to Create Your Own Decentralized Autonomous Organization Launched in April 2021, xDAO is the first and the only DAO-builder on the Binance Smart Chain (BSC). The protocol allows users to combine crypto assets from multiple partners and manage them in more efficient and secure way by using auto-generated smart contracts. A clear voting system also allows users to make collective decisions and be confident in their exact execution. xDAO offers a perfect solution to anyone who wants to easily pool resources to mange crypto assets as a DAO. The need for the service is virtually endless and includes potential users such as venture capital funds, public funds and foundations, new tech startups and freelance gro...

The multinational conglomerate holding company headquartered in Tokyo, Softbank operates a Latin America Fund that invests in startups focused on identification technology, e-commerce, education, fintech and now cryptocurrency solutions. The Softbank Latin America Fund revealed on Thursday that it invested $200 million in the crypto-asset exchange Mercado Bitcoin. Mercado Bitcoin’s $200M Capital Raise: Softbank Funds One of the largest Series B funding rounds in LATM The Softbank Latin America Fund has invested in Mercado Bitcoin’s parent company 2TM Group . The announcement highlights that it is one of the largest Series B funding rounds in Latin America and Softbank’s largest crypto investment in the Latin American continent. The investment brings 2TM Group’s unicorn status to $2.1 billion and the eighth-most valuable fintech firm in Latin America. Mercado Bitcoin aims to leverage the financing to continue scaling operations and invest in more infrastructure. The company’s anno...

According to an announcement revealed on Thursday, Spencer Dinwiddie’s token application called Calaxy has raised $7.5 million in funding. The American professional basketball player for the NBA’s Brooklyn Nets has been a fan of blockchain technology for quite some time, as the point guard raised $1.3 million tokenizing his contract on the Ethereum blockchain. Hedera Hashgraph-Powered Calaxy Raises $7.5 Million The NBA star Spencer Dinwiddie’s token application Calaxy raised $7.5 million in funding according to statements sent to Bitcoin.com News. The capital raise announced this week stemmed from a deal that involved the acquisition of future CLXY tokens. Spencer Dinwiddie’s Calaxy App aims to be the “first social media super app designed for creators, by creators.” The financier Solo Ceesay is Calaxy’s COO and cofounder who said he saw an opportunity in creating a platform that helps monetize an online community. Calaxy leverages the enterprise-grade blockchain network Hede...

The Mark Cuban-backed non-fungible token (NFT) marketplace Mintable has raised $13 million in a Series A funding round, according to an announcement on Thursday. The Singapore-headquartered Mintable, plans to use the funds to expand its offerings, as the application already features 700,000 NFTs minted on the Mintable platform. NFT Marketplace Mintable Raises $13 Million On July 1, 2021, the NFT marketplace Mintable announced that it had raised $13 million in a Series A financing round. Investment stemmed from well known investors like Metapurse, Ripple Labs, Animoca Brands, Metakovan, Doug Band the former advisor to Bill Clinton, and the founder of Shutterstock, Jon Oringer as well. In recent times, Mintable collaborated with the National Football League (NFL) quarterback Trevor Lawrence in an NFT collection series. Lawrence’s NFTs sold for over $400K and Mintable has also collaborated with the popular Japanese fashion brand Bathing Ape. “With the new injection of funds, Mintab...

If you ever wondered why crypto projects rise and fall so quickly, you are not alone. In fact, barely 7 months after the 2017 bull run ended, over 800 projects have ceased to exist like a puff of smoke. To understand the reason why 90% of crypto startups are going to fail, there are a couple of factors that need to be considered, including shortage of funds, over-reliance on hype, and immature business model. Nevertheless, without projects paving the path towards innovations, there would be no DeFi, IDOs, or even NFTs. The entire cryptocurrency community would not even exist, simply because there are no projects around to support it. However, the growth is going to be challenging to achieve every time the crypto winter happens. Investors are flushed out from the market, whereas projects are left on their own to sustain themselves for the coming few years, until the next bull run. This presents a question of survival to every crypto project in the industry, which begs the questio...

Sir Timothy John Berners-Lee, the English computer scientist who is well known for inventing the world wide web has sold a non-fungible token (NFT) in an online auction hosted by the auction house Sotheby’s. The NFT is basically a video of the World Wide Web’s source code created in Python and the collectible sold for $5.4 million. Tim Berners-Lee and Sotheby’s Auction NFT for $5.4 Million This week, Sotheby’s revealed that Tim Berners-Lee sold an NFT of the original source code for the world wide web for a whopping $5.4 million. Before the NFT auction, Berners-Lee told the publication the Guardian: “I’m not selling the web – you won’t have to start paying money to follow links. I’m not even selling the source code. I’m selling a picture that I made, with a Python program that I wrote myself, of what the source code would look like if it was stuck on the wall and signed by me.” Sir Timothy John Berners-Lee, the English computer scientist who invented the world wide web. Berner...

The Hungarian-born American billionaire investor George Soros’ investment fund is actively trading bitcoin investment products, according to reports. Undisclosed sources reveal that bitcoin trading got the green light from the Soros Fund Management chief investment officer (CIO) Dawn Fitzpatrick. Soros Fund Management Reportedly Has ‘Greenlight’ to Trade Bitcoin At the end of March, Bitcoin.com News reported on George Soros’ investment fund and the company’s CIO Dawn Fitzpatrick. At the time, Fitzpatrick said that central bank digital currencies (CBDCs) are a “threat” to bitcoin ( BTC ), but she also said she doesn’t think CBDCs will “be successful in permanently destabilizing bitcoin.” Now a report stemming from undisclosed sources speaking with the news publication website thestreet.com , says Fitzpatrick has allowed the Soros’ investment fund to trade bitcoin products. The reporter, Michael Bodley, cites two sources that have said the CIO Dawn Fitzpatrick has given “the intern...

Centre, the consortium behind the issuance of USD Coin (USDC), announced it will launch the popular asset on 10 more blockchains. This would expand the reach of USDC to other environments and could make it more popular as a commercial and staking currency. While Centre made the announcement only recently, USDC surprisingly launched on Tron today. Centre Launches Multichain USDC Initiative Centre, the consortium behind USDC, the second biggest stablecoin by market share, announced an initiative to take the coin to ten new blockchains. The objective of this plan is to expand the market reach of USDC. This would also let the coin’s users leverage the unique advantages of various blockchains applied to USDC. USDC was first launched as an Ethereum-based token back in September 2018. But the situation on the Ethereum blockchain was completely different then. Ethereum featured low fees and allowed cheap transactions. Now, Ethereum transaction fees are more expensive, and Centre’s expansi...

While dogecoin and the ERC20 token shiba inu have surprised the masses with phenomenal gains this year, another dog token has entered the fray. A coin project called “Baby Doge” has risen 228.3% during the last 24 hours and even more so after Tesla’s CEO Elon Musk tweeted about the crypto asset. Another Canine Crypto Coin Sees Its Value Surge Just when you thought there were plenty of dog meme tokens flooding the market, another canine coin has broken free from the kennel. A new token called baby doge (BABYDOGE) has been the talk of the crypto community the last few days, and Elon Musk decided to tweet about the token on Thursday. Musk’s tweet wasn’t very coherent and he simply said : Baby Doge, doo, doo, doo, doo, doo, Baby Doge, doo, doo, doo, doo, doo, Baby Doge, doo, doo, doo, doo, doo, Baby Doge. Of course, Musk’s tweet sent the baby doge token skyrocketing as the digital currency has risen 228.3% over the last 24 hours. Seven-day stats against the U.S. dollar show baby do...

A recent survey of financial advisors and their investing strategies shows “a significant shift to embracing cryptocurrencies.” More than 26% indicated that they plan to increase their recommendation of cryptocurrencies over the next 12 months. Furthermore, 49% of advisers said that clients have asked them about investing in cryptocurrencies in the last six months. Financial Advisors Show Significant Shift to Embracing Cryptocurrencies The 2021 Trends in Investing Survey , conducted by the Journal of Financial Planning and the Financial Planning Association (FPA), and supported by Onramp Invest, was released earlier this month. The Financial Planning Association is the principal membership organization for certified financial planners, professionals, educators, and financial services professionals. Onramp Invest is a technology company providing access to crypto assets for registered investment advisors. The survey received 529 responses from financial advisers of various backgrou...

Zürich, Switzerland, 1 July 2021 – Anyone with a green conscience can now join the crypto movement. The next generation and world’s first truly sustainable blockchain Signum is now live. As a fully integrated smart platform featuring multiple innovations, Signum is a one-stop solution to transfer, trade, and mine its native cryptocurrency Signa (ticker: SIGNA). Signum combines world-class features such as smart contracts, peer-to-peer messaging, and token creation with fast and secure digital payments – all of them on a sustainable blockchain. Smart, secure, and sustainable Signum uses less than 0.002% of the energy Bitcoin needs to drive its blockchain and its native digital coin Signa (SIGNA). Signum produces basically no e-waste, making it the first blockchain that deserves to be called ‘sustainable’. Signum is much more than a cryptocurrency. As a customizable platform, it has the power to feature fair, unstoppable and unlimited censorship-resistant decentralized applicatio...

The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has reportedly told investors that the country’s currency is overvalued by 10%. The governor’s remarks, which have been confirmed by two unnamed sources, suggest that the central bank is planning to devalue the naira again. Another Naira Devaluation Loading As previously reported by Bitcoin.com News, in May 2021, authorities in Nigeria allowed the naira’s exchange rate against the US dollar to drop from a fixed rate of 381 per dollar to the current official rate of 410. This devaluation, which was the third one in less than 18 months, briefly narrowed the gap between the official and the parallel market rate. However, at the time of writing, this gap had widened again. Nevertheless, as a Reuters report explains, the CBN chief is now expecting to see this gap shrink. According to the report, the governor said: “The spot naira rate of 410-412 per dollar would eventually weaken by 5% to 10%.” Weakening the na...

With South Africa receiving more than its fair share of cryptocurrency-related scams, a report suggests that regulators are responding to this challenge by fast-tracking the process of creating a new regulatory framework. As a result, regulators now expect this process, which was preceded “by the publication of proposals earlier in June,” to be complete “in three to six months.” Acknowledging Risks Associated With Crypto According to a report , under the requirements of the upcoming regulatory regime, players in South Africa’s financial sector are expected to be aware of the risks that are associated with cryptocurrencies. They are also expected to price in those risks properly. In the meantime, the report also quotes Kuben Naidoo, the CEO at Prudential Authority, a banking sector regulator, explaining how the drafting process is expected to unfold. The CEO said: We are trying to put in place the regulatory framework quickly. Defining this as a financial product and then developi...

Beijing subway has officially launched a new program that allows passengers to pay for rides with the central bank digital currency (CBDC) also known as the digital yuan. The news follows the subway system in East China’s Jiangsu province in the city of Suzhou which also allows digital yuan payments for subway fares. Digital Yuan Can Now Be Used to Pay for Fares on China’s Major Public Transport Railways China’s capital of Beijing and the People’s Bank of China (PBOC) has been moving fast in regard to pushing CBDC adoption in the country. There’s been a bunch of red envelope lotteries giving the digital yuan away to citizens, 3,000 automated teller machines (ATMs) now allow digital yuan withdrawals in Beijing, subcontractors are being paid in the CBDC in China’s Xiong’an New Area, and Hong Kong is connecting with the CBDC. On top of all that JD.com employees have been paid in the digital yuan and firms like Mastercard, Ant, Tencent, and Alibaba have been engaging with the CBD...