Bitcoin News and Finance: What You Need to Know

The number of users or unique addresses leveraging decentralized finance (defi) protocols via Ethereum has risen past 3 million according to recent statistics. A vast majority of these unique addresses use the defi protocol Uniswap, as 2.4 million users have been recorded since December 2018. Ethereum Defi Applications See Unique Addresses Surpass 3 Million According to statistics from Dune Analytics , the number of users or unique ethereum addresses utilizing defi has jumped past the 3 million threshold this week. At the time of writing, data shows there are 3,092,000 unique addresses recorded on July 27. The lion’s share of these addresses stems from the decentralized exchange (dex) platform Uniswap. Uniswap’s dex currently has approximately 2,438,374 unique addresses that leverage the Uniswap trading protocol. It’s worth noting, however, that since a user can have more than one unique address, records could be considered overestimates. Further, the data from Dune Analytics’ “De...

The growth and popularity of community inclusion cryptocurrencies in Kenya continues to soar with the country’s rural farmers being the latest group to embrace the financial technology. As one report reveals, some farmers in Kenya’s countryside are now accepting cryptocurrency as payment while others are using the same to buy important supplies. Use of Sarafu Cryptocurrency Helps Farmers Save Money According to a report from media outlet VOA, one of the reasons this alternative monetary system has become popular is because it allows users to preserve their fiat currency savings. For instance, the report quotes Emmanuel Kahindi, a 26-year-old farmer from Kenya’s Kilifi, explaining how using this novel currency system helps him. Kahindi said: “Sarafu [the community inclusion cryptocurrency] helped me a lot especially because it makes me save my money, my Kenyan currency.” According to the report, Kahindi is using the sarafu to purchase items for the garden like seeds and fertilizer....

The International Monetary Fund (IMF) has warned against adopting cryptocurrencies, like bitcoin, as legal tender. Noting numerous risks and costs involved, the IMF does not see crypto assets catching on as a national currency. IMF Warns of Risks in Adopting Cryptocurrencies as National Currency The International Monetary Fund (IMF) published a blog post on Monday discussing the topic of cryptocurrencies as legal tender. The post titled “Cryptoassets as National Currency? A Step Too Far” was authored by Tobias Adrian, the financial counselor and director of the IMF’s Monetary and Capital Markets Department, and Rhoda Weeks-Brown, general counsel and director of the IMF’s Legal Department. The post does not mention El Salvador, the Central American country which recently adopted bitcoin as legal tender alongside the U.S. dollar. The authors wrote: As national currency, cryptoassets — including bitcoin — come with substantial risks to macro-financial stability, financial integrity...

U.S. Senator Elizabeth Warren has asked Treasury Secretary Janet Yellen to “act with urgency” and adopt an appropriate policy to address the risks posed by cryptocurrencies. “The longer that the United States waits to adapt the proper regulatory regime for these assets, the more likely they will become so intertwined in our financial system that there could be potentially serious consequences if this market comes under stress.” Senator Warren Wants Quick Regulatory Response to Crypto Risks U.S. Senator Elizabeth Warren wrote a letter to Treasury Secretary Janet Yellen Monday outlining numerous concerns regarding the risks posed by cryptocurrency. “I am writing to you in your capacity as Chair of the Financial Stability Oversight Council (FSOC) regarding the need for a coordinated and cohesive regulatory strategy to mitigate the growing risks that cryptocurrencies pose to the financial system,” Warren wrote. She explained that the FSOC “is responsible for identifying and responding...

Payments giant Mastercard has launched a new, global program for cryptocurrency startups. Seven crypto companies have already joined the program. Together with Mastercard, they will work to “expand and accelerate innovation around digital asset technology and make it safer and easier for people and institutions to buy, spend and hold cryptocurrencies and digital assets.” Mastercard’s New Crypto Program Mastercard announced Tuesday “a new Start Path global startup engagement program dedicated to supporting fast-growing digital assets, blockchain and cryptocurrency companies.” Seven startups have already joined the program. They will work with Mastercard “to expand and accelerate innovation around digital asset technology and make it safer and easier for people and institutions to buy, spend and hold cryptocurrencies and digital assets,” the announcement details. The startups include GK8, Mintable, Stacs, and Supraoracles. GK8 (Israel) is a self-managed end-to-end institutional cry...

Fireblocks, a blockchain infrastructure firm, raised $310 million in its most recent funding round, reaching a valuation of $2 billion. The company, which specializes in the custody of digital assets, is interested in bringing traditional assets to the blockchain realm. Fireblocks expects this trend of digitalization to keep growing in the recent future. Fireblocks Raises $310 Million in Series D Funding Round Fireblocks, a custody and blockchain infrastructure company, raised $310 million in its Series D funding round. The new investment took the valuation of the company to $2.2 billion, tripling its value since the Series C funding round last February. The round had the confirmed participation of six investments firms: Sequoia Capital, Stripes, Spark Capital, Coatue, DRW Venture capital, and SCB 10X, the venture arm of Thailand’s Siam Commercial Bank. The company aims to use these funds to bring traditional assets and products to the blockchain. Fireblocks’ CEO Michael Shaulov ...

Following the announcement from the National Basketball Association’s (NBA) Boston Celtics, the Cleveland Cavaliers has officially partnered with the blockchain firm Socios.com. The partnership is aimed at increasing the Socios brand and awareness via the Cavaliers’ global asset platform. Socios Partners With the Cavs On July 26, Socios.com and the NBA team, the Cleveland Cavaliers, revealed a new partnership. The Socios company is a blockchain project that allows fans to become “superfans” by letting them influence “club-specific decisions, trade digital items, and access VIP experiences.” Socios says that currently the “team-based fan engagement elements and activations” tethered to the Cavaliers is still under review. However, Socios will leverage the Cavaliers global asset platform to boost brand awareness. For instance, in the upcoming 2021-22 NBA season, the Socios.com logo will be featured on the Cavs’ practice jersey just below the player’s number. Socios will also have a...

According to a recent report, the first trust-less swap between the Bitcoin blockchain and Stacks protocol has been executed. The co-founder of the Stacks protocol, Muneeb Ali tweeted about the native bitcoin swap and said the progress is a big deal. Trust-less Native Bitcoin Swap Executed With an NFT Called ‘Boombox’ On July 23, a trust-less swap using the Stacks protocol and the Bitcoin ( BTC ) blockchain was settled onchain. The swap dubbed the “Catamaran Swap between BTC and STX” was discussed on the Reddit forum r/stacks. “The first trustless swap between [the] Bitcoin [blockchain] and Stacks chain is happening,” a user wrote on the forum. “It is similar to a submarine swap. However, I would call it catamaran swap because we have two chains on top of the water,” the individual added. Further into the Reddit thread, the individual notes that the swap was “successfully completed.” Native Bitcoin swaps are now live! Why is this a big deal? Tweet thread👇 — muneeb.btc (@mun...

Goldman Sachs, one of the biggest banking institutions in the world, has filed an application to offer an Exchange Traded Fund (ETF) linked to the performance of decentralized finance (defi) companies. The instrument, if approved, would help institutions and retail investors gain exposure to defi assets with the help of a regulated bank like Goldman Sachs. Goldman Sachs Proposes Defi ETF Goldman Sachs, one of leading commercial banks in the world, has introduced an application to the SEC to offer a defi-linked ETF. The defined ETF is called “Goldman Sachs Innovate Defi and Blockchain Equity ETF,” and it would seek to provide exposure to these technologies for regulated institutions. The performance of the fund would be linked to the Solactive Blockchain Technology Performance-Index. This index follows a portfolio of tech industries that are invested in blockchain technologies. The index includes companies like Nokia, Alphabet, IBM, Microsoft, and Overstock. This would be the firs...

According to regional reports, the Burger King franchise in Brazil has introduced a new type of food specifically made for canines called the “Dogeppr.” The new product is a dog biscuit that canine owners can purchase for their pets and the company is accepting dogecoin crypto payments for Dogeppr purchases. Burger King Brazil Introduces the Dogeppr — Company Accepts Dogecoin for Meat-Flavored Biscuits At a number of select locations, the Burger King franchise in Brazil has announced that the firm is accepting dogecoin (DOGE) payments for a new dog biscuit the company recently introduced. “Now you can buy Dogepper with dogecoin, take advantage of it,” the Burger King Brazil advertisement reads. “What is the best way to pay for a product aimed at dogs? Obviously, Dogecoins,” the restaurant chain’s advertisement adds. Customers can get a Dogepper added to their value meals as well. In order to purchase a Dogepper, a customer needs to check the availability and then choose the s...

Bitcoin’s hashrate has slowly crept back up between 85 exahash per second (EH/s) to 125 EH/s on July 14. The increase in hashpower has made it so the next mining difficulty change will increase for the first time in eight weeks. The four consecutive difficulty drops turned out to be the largest slide in Bitcoin’s lifetime, and that’s seemingly coming to an end in four days. Bitcoin’s Hashrate Moves Northbound The price of bitcoin (BTC) dropped for a few consecutive weeks, and during the same time frame, China’s crackdown on bitcoin miners was also happening. On May 15, bitcoin’s price began sliding from just above the $50K handle to end up just above the $30K zone on May 19. A price drop essentially removes revenue from bitcoin miners and when BTC started sliding on May 15, the mining difficulty had jumped two days earlier, up 21.53% higher than the adjustment before. Because it was over 21% more difficult for miners to find a block, the next two weeks were grueling. Bitcoin h...

PRESS RELEASE. Tel Aviv – July 27, 2021 – Kirobo , a blockchain technology company, has launched its ‘P2P Swap Button’, a decentralized tool allowing cryptocurrency users to execute token swaps without having to use an exchange or custodial third party. By taking the swap off-exchange, the tool allows users to decide their own prices for their tokens and transact directly with peers. As a result, slippage is avoided completely. Asaf Naim, co-founder and CEO of Kirobo, said: “Until now, it wasn’t possible to execute a swap without losing money, because exchange algorithms adjust token prices according to the amounts put up for sale. We’re allowing people to trade without an exchange and to set their own prices, with complete security, for the first time ever.” Kirobo’s safe transfer platform secures transactions with an authentication key, the component parts of which are divided between the first party, the smart contract, and the Kirobo server. There’s no single point of failure, ...

Companies providing trading services for digital assets will be able to open accounts with banks in Kazakhstan, local media reported, quoting the country’s crypto industry association. The service should allow Kazakhs to legally invest in cryptocurrencies and cash out their profits. Crypto Exchanges in Kazakhstan to Be Offered Banking Services Kazakh banks will be permitted to open accounts for cryptocurrency exchanges registered at the Astana International Financial Center ( AIFC ), Kazakhstan’s National Association of Blockchain and Data Center Industry announced, quoted by local news portal Habar 24. The move is part of а pilot project with second-tier banks that’s expected to continue for one year. Astana International Financial Center. Potential crypto investors will be required to have an account with a participating banking institution to trade on any of the exchanges. This would allow them to transfer fiat money, buy digital coins and carry out various other operations o...

The Brazilian authorities seized $33 million linked to a money-laundering investigation involving cryptocurrency exchanges. The operation, called “Exchange Transaction” by the Brazilian police, involved six search warrants in different locations of the country. These searches were directed to find shell companies that used cryptocurrency exchanges for alleged money laundering purposes. Brazilian Police Seize $33 Million in Money Laundering Probe Brazilian authorities have seized $33 million belonging to shell companies that, according to reports from the Brazilian police, used cryptocurrency exchanges for money laundering purposes. Brazilian courts issued six search warrants in properties linked to these shell companies located in Diadema and in the Capital. These orders resulted in different account blocks from two individuals and 17 legal entities. The investigations found that several companies transacted large amounts of funds among themselves as a way of fooling authorities, a...

Ethereum will have a very bullish year, according to a price prediction poll made by Finder. The average price that the second-ranked crypto asset by market capitalization will reach this year is about $4.5K, according to polled experts in the cryptocurrency industry. The panel is also bullish about ethereum long term, expecting a price of about $18K for the year 2025. Experts Bullish About Ethereum in the Short Term Finder, an investing companion app, released its Ethereum price prediction poll results, which reveal a bullish sentiment for the present and future of Ethereum. 27 of 42 experts that gave their opinions in Finder’s poll expect ethereum to be at $4,596 by December 31, 2021. Experts give different reasons for this opinion, but most of them are related to the bullish outlook of the crypto market and to the different changes the chain has vowed to apply to fix its scaling issues in the near future. Allnodes CEO and founder Konstantin Boyko-Romanovsky, who was consulted i...

In a new twist to the Africrypt saga, two different reports have made contradicting claims about the whereabouts of Raees and Ameer Cajee, the two directors of the collapse bitcoin investment firm. However, both reports suggest the Cajees brothers had planned their escape prior to the alleged hacking incident in April. Vanuatu or Tanzania In its report , the UK outlet Daily Mail claims to have seen documents suggesting that Raees had purchased Vanuatu citizenship for about $131,000 (£95,000) back in October 2020. About three months later, Ameer would make a similar purchase. The same report quotes Cajees brothers suggesting that their disappearance had been prompted by fears that a criminal gang wanted to harm them. Interestingly, the claims by the brothers that they fled South Africa to avoid being harmed by an organized criminal syndicate appear to be corroborated by a Moneyweb report. In this report , the Cajees brothers are quoted claiming that they had received death threats f...

The founder of investment management firm Michael Lee Strategy says that “the best days of bitcoin are definitely ahead of it,” expecting the cryptocurrency to “make all-time new highs.” The strategist further says that it will be a long time “before we see any sort of taper or any sort of restrictive policy from the Fed” or other central banks worldwide. Market Strategist Expects Bitcoin to Make All-Time New Highs Michael Lee, founder of Michael Lee Strategy, shared his outlook for bitcoin in an interview with Fox Business Monday. Michael Lee Strategy offers wealth planning and investment management as an investment adviser representative through Compass Financial. Lee is a former vice president in the Institutional Middle Markets group at Morgan Stanley. Commenting on the price of bitcoin hitting $60,000 earlier this year, Lee said that “it is just a side effect of endless money printing that’s going on.” He dismissed the theory that the BTC price increase Monday resulted from ...

Elon Musk’s electric car company, Tesla, is holding bitcoin worth $1.311 billion. The company did not buy or sell any bitcoin during the second quarter but recorded bitcoin-related impairment of $23 million. Tesla’s action reaffirms Musk’s prior statement that neither he nor Tesla had sold their coins. Tesla’s Q2 Bitcoin Holdings Elon Musk’s Tesla released its second-quarter earnings report Monday. The company’s Q2 2021 unaudited balance sheet shows a net digital asset value of $1.311 billion as of June 30. Tesla’s Q2 unaudited balance sheet showing the company’s net digital assets. Source: Tesla Tesla Neither Purchased Nor Sold Bitcoin in Q2 Tesla did not buy or sell any bitcoin in the second quarter. The company’s Q2 unaudited statement of cash flows still shows that the only cryptocurrency purchase made was the $1.5 billion BTC purchase in Q1. The cash flow statement also shows that the only time Tesla sold its bitcoin was in Q1 for $272 million. Tesla CEO Elon Musk previ...

PRESS RELEASE. AscendEX , a global cryptocurrency financial platform with a comprehensive product suite, is excited to announce the Ternoa token (CAPS) listing under the pair USDT/CAPS on July 27 at 1 p.m. UTC. AscendEX and the Ternoa team will jointly launch two limited-time promotional events to celebrate the CAPS listing. The activities will consist of airdrop rewards tasks and a trading competition taking place between July 27, 1:00 a.m. UTC to August 3, 12 a.m. UTC, offering users a chance to win a share of pooled rewards worth 80,000 USDT ! Ternoa is an NFT-based decentralized data transfer blockchain protocol. Ternoa provides long-term secure data storage and transfer to third parties. It relies upon the innovative use of NFTs to encrypt, segment, and store data on decentralized storage infrastructures. In addition, oracles allow for automated, programmable data transfers. Ternoa also offers a Software Development Kit (SDK) to facilitate the development of mobile and web a...