Vitalik argues that proof-of-stake is a 'solution' to Ethereum’s environmental woes.
The stakes are high for the chain to transition, as those that don't risk getting 'left behind.'
At a conference yesterday, Ethereum co-founder and unofficial figurehead Vitalik Buterin argued that Ethereum’s upcoming transition to a proof-of-stake consensus mechanism is a “solution” to the blockchain’s rampant energy consumption that has been incensing critics as of late.
In an interview at the StartmeupHK virtual conference hosted from Hong Kong, Buterin said that while proof of stake is “still in its infancy and less battle-tested” than Ethereum’s current proof-of-work model, it can ultimately reduce the chain’s energy consumption by upwards of 10,000x.
The comments come amid a period of rampant criticism of blockchain technology for its ecological impact — including from some erstwhile supporters. Tesla founder Elon Musk recently undertook an about-face in regards to the car company accepting Bitcoin payments, saying that he could not encourage the use of fossil fuels via Bitcoin mining. In other threads, he also called for Dogecoin to increase its efficiency across several key metrics.
Buterin directly responded to these comments about scalability in a blog post on his website, laying out the problems with trying to scale by simply tweaking the parameters around blocksize.
Earlier in the month, Buterin also argued that Bitcoin’s continued use of proof-of-work means that the chain, which is currently the world’s largest, will eventually get “left behind” as users increasingly demand more energy-efficient and environmentally friendly options — a phenomenon he says makes it “possible” that Ethereum eventually eclipses Bitcoin and the largest digital asset.
Ultimately, Buterin seems to agree with critics regarding the need for blockchains to adopt newer, more efficient models — especially as the chain grows in volume and becomes a widely relied-upon computational network.
"This thing we’re building isn’t just a game anymore. It’s a significant part of a new era.”
The stakes are high for the chain to transition, as those that don't risk getting 'left behind.'
At a conference yesterday, Ethereum co-founder and unofficial figurehead Vitalik Buterin argued that Ethereum’s upcoming transition to a proof-of-stake consensus mechanism is a “solution” to the blockchain’s rampant energy consumption that has been incensing critics as of late.
In an interview at the StartmeupHK virtual conference hosted from Hong Kong, Buterin said that while proof of stake is “still in its infancy and less battle-tested” than Ethereum’s current proof-of-work model, it can ultimately reduce the chain’s energy consumption by upwards of 10,000x.
The comments come amid a period of rampant criticism of blockchain technology for its ecological impact — including from some erstwhile supporters. Tesla founder Elon Musk recently undertook an about-face in regards to the car company accepting Bitcoin payments, saying that he could not encourage the use of fossil fuels via Bitcoin mining. In other threads, he also called for Dogecoin to increase its efficiency across several key metrics.
Buterin directly responded to these comments about scalability in a blog post on his website, laying out the problems with trying to scale by simply tweaking the parameters around blocksize.
Earlier in the month, Buterin also argued that Bitcoin’s continued use of proof-of-work means that the chain, which is currently the world’s largest, will eventually get “left behind” as users increasingly demand more energy-efficient and environmentally friendly options — a phenomenon he says makes it “possible” that Ethereum eventually eclipses Bitcoin and the largest digital asset.
Ultimately, Buterin seems to agree with critics regarding the need for blockchains to adopt newer, more efficient models — especially as the chain grows in volume and becomes a widely relied-upon computational network.
"This thing we’re building isn’t just a game anymore. It’s a significant part of a new era.”
Bitcoin 2021 Miami continues with Tony Hawk, Kevin O’Leary and more.
Saturday’s programming will also feature Bobby Lee, the former CEO of China’s first cryptocurrency exchange.
Bitcoin 2021 Miami continues following Friday's massive opening of the historic event.
The events kick off at 9:00 am Eastern Time (1:00 pm UTC) with opening remarks by a Miami-Dade County commissioner. Cointelegraph will continue posting Bitcoin 2021 updates on Twitter as well as the YouTube channel.
One of the key speakers for day two will be Tony Hawk, an American skateboarding icon and entrepreneur. Hawk made a major move into the cryptocurrency industry earlier this year, releasing an NFT drop via Ethernity Chain in March featuring a tokenized video of his final 540-degree ollie.
The famous skateboarder will deliver a speech on “When A Counterculture Goes Mainstream” at the Nakamoto Stage at 9:45 am ET (1:45 am UTC). Hawk will also have a meet-and-greet session offering attendees the chance to get a limited-edition skateboard deck signed by the legend.
Hawk’s speech will be followed by a panel discussion devoted to cryptocurrency mining — one of the hottest topics in the crypto community. Shark Tank investor Kevin O’Leary will discuss crypto mining by public companies with Marathon CEO Fred Thiel, Riot Blockchain CEO Jason Les, and Frank Holmes, executive chairman of Hive Blockchain Technologies.
Saturday's event will also feature Bobby Lee, the former CEO of China’s first cryptocurrency exchange, BTCC, which was founded back in 2011. Currently the CEO of cryptocurrency hardware wallet Ballet, Lee will participate in the “Onboarding One Billion Bitcoiners” panel at the main stage at 11:40 am ET (3:40 pm UTC). He will later give a speech on the “Freedom of HODLing” on the End of Fiat Stage at 3:00 pm ET (7:00 pm UTC).
Lightning Labs co-founder and CEO Elizabeth Stark will continue the event with a panel discussion titled “Bitcoin For Billions, Not Billionaires” alongside strategic investor Lyn Alden. Other notable Bitcoin 2021 day-two speakers include Bitcoin programmer Jimmy Song, Galaxy Digital CEO Michael Novogratz, Paxos co-founder and CEO Charles Cascarilla, OKCoin CEO Hong Fang, and Google product director Steve Lee.
The last Nakamoto Stage panel called “Evolution Of Exchanges” will start at 3:35 pm ET (7:35 pm UTC) and will feature Avanti CEO Caitlin Long, Alameda Research founder Sam Bankman-Fried, Huobi Global vice president Ciara Sun, and ShapeShift CEO Erik Voorhees.
Saturday’s programming will also feature Bobby Lee, the former CEO of China’s first cryptocurrency exchange.
Bitcoin 2021 Miami continues following Friday's massive opening of the historic event.
The events kick off at 9:00 am Eastern Time (1:00 pm UTC) with opening remarks by a Miami-Dade County commissioner. Cointelegraph will continue posting Bitcoin 2021 updates on Twitter as well as the YouTube channel.
One of the key speakers for day two will be Tony Hawk, an American skateboarding icon and entrepreneur. Hawk made a major move into the cryptocurrency industry earlier this year, releasing an NFT drop via Ethernity Chain in March featuring a tokenized video of his final 540-degree ollie.
The famous skateboarder will deliver a speech on “When A Counterculture Goes Mainstream” at the Nakamoto Stage at 9:45 am ET (1:45 am UTC). Hawk will also have a meet-and-greet session offering attendees the chance to get a limited-edition skateboard deck signed by the legend.
Hawk’s speech will be followed by a panel discussion devoted to cryptocurrency mining — one of the hottest topics in the crypto community. Shark Tank investor Kevin O’Leary will discuss crypto mining by public companies with Marathon CEO Fred Thiel, Riot Blockchain CEO Jason Les, and Frank Holmes, executive chairman of Hive Blockchain Technologies.
Saturday's event will also feature Bobby Lee, the former CEO of China’s first cryptocurrency exchange, BTCC, which was founded back in 2011. Currently the CEO of cryptocurrency hardware wallet Ballet, Lee will participate in the “Onboarding One Billion Bitcoiners” panel at the main stage at 11:40 am ET (3:40 pm UTC). He will later give a speech on the “Freedom of HODLing” on the End of Fiat Stage at 3:00 pm ET (7:00 pm UTC).
Lightning Labs co-founder and CEO Elizabeth Stark will continue the event with a panel discussion titled “Bitcoin For Billions, Not Billionaires” alongside strategic investor Lyn Alden. Other notable Bitcoin 2021 day-two speakers include Bitcoin programmer Jimmy Song, Galaxy Digital CEO Michael Novogratz, Paxos co-founder and CEO Charles Cascarilla, OKCoin CEO Hong Fang, and Google product director Steve Lee.
The last Nakamoto Stage panel called “Evolution Of Exchanges” will start at 3:35 pm ET (7:35 pm UTC) and will feature Avanti CEO Caitlin Long, Alameda Research founder Sam Bankman-Fried, Huobi Global vice president Ciara Sun, and ShapeShift CEO Erik Voorhees.
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Pantera Capital and Arrington XRP Capital lead $5.8M Unbound Finance raise.
Unbound Capital aims to become the first decentralized cross-chain stablecoin. The private investment round had participation from at least 14 venture funds and over a dozen angel investors from across the blockchain industry.
Cryptocurrency asset managers Pantera Capital and Arrington XRP Capital have co-led a $5.8 million private investment round for Unbound Finance, an up-and-coming DeFi treasury protocol for pooled tokens.
The funds will be used to further develop Unbound Finance’s cross-chain stablecoin platform, including the development of native bridges for instant transfers between its native UNB stablecoin and other synthetic assets, the company announced Wednesday.
Unbound Finance operates a so-called “liquidation-free collateralization platform,” which, as the name suggests, allows users to obtain interest-free loans against collateralized tokens.
Automated market makers are “DeFi's Zero to One Innovation and we are building the aggregator layer to enable greater yields and capital efficiency for our users,” said Tarun Jaswani, CEO and Founder of Unbound Finance.
There are some serious backers behind Unbound Finance’s $5.8 million raise. In addition to Pantera Capital and Michael Arrington’s XRP Capital, the project received direct funding from Hashed, Coin98 Ventures, LedgerPrime, CMS Holdings and many others. Over a dozen angel investors also participated in the raise, including the founders of Angelist, Enjin, Gnosis, Kyber Network, Polygon, Harmony, Polkastarter and others.
Pantera CEO Dan Morehead commented on the impact Unbound Finance could have on the budding DeFi industry:
“Unbound has great potential to play a lead role in the DeFi space by focusing on liquidity pool tokens. We’re excited to support the Unbound team as they build the key tools to capitalize upon this untouched part of the DeFi ecosystem.”
A punishing reversal for digital asset markets over the past six weeks hasn’t prevented venture firms from backing promising projects, especially in the DeFi space. As Cointelegraph reported, crypto- and blockchain-based companies are seeking massive valuations following several highly successful private funding rounds.
Meanwhile, the blockchain development arm behind Solana announced Tuesday that it had raised another $314.15 million from mega investors including Andreessen Horowitz and Polychain Capital.
Unbound Capital aims to become the first decentralized cross-chain stablecoin. The private investment round had participation from at least 14 venture funds and over a dozen angel investors from across the blockchain industry.
Cryptocurrency asset managers Pantera Capital and Arrington XRP Capital have co-led a $5.8 million private investment round for Unbound Finance, an up-and-coming DeFi treasury protocol for pooled tokens.
The funds will be used to further develop Unbound Finance’s cross-chain stablecoin platform, including the development of native bridges for instant transfers between its native UNB stablecoin and other synthetic assets, the company announced Wednesday.
Unbound Finance operates a so-called “liquidation-free collateralization platform,” which, as the name suggests, allows users to obtain interest-free loans against collateralized tokens.
Automated market makers are “DeFi's Zero to One Innovation and we are building the aggregator layer to enable greater yields and capital efficiency for our users,” said Tarun Jaswani, CEO and Founder of Unbound Finance.
There are some serious backers behind Unbound Finance’s $5.8 million raise. In addition to Pantera Capital and Michael Arrington’s XRP Capital, the project received direct funding from Hashed, Coin98 Ventures, LedgerPrime, CMS Holdings and many others. Over a dozen angel investors also participated in the raise, including the founders of Angelist, Enjin, Gnosis, Kyber Network, Polygon, Harmony, Polkastarter and others.
Pantera CEO Dan Morehead commented on the impact Unbound Finance could have on the budding DeFi industry:
“Unbound has great potential to play a lead role in the DeFi space by focusing on liquidity pool tokens. We’re excited to support the Unbound team as they build the key tools to capitalize upon this untouched part of the DeFi ecosystem.”
A punishing reversal for digital asset markets over the past six weeks hasn’t prevented venture firms from backing promising projects, especially in the DeFi space. As Cointelegraph reported, crypto- and blockchain-based companies are seeking massive valuations following several highly successful private funding rounds.
Meanwhile, the blockchain development arm behind Solana announced Tuesday that it had raised another $314.15 million from mega investors including Andreessen Horowitz and Polychain Capital.
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Be among the first Swene liquidity providers to get the liquidity pool tokens at the best price and lock your liquidity forever to get the best yield!💎
🚀 PARTICIPATE NOW 🚀
The Step 1 ends on the 16/06/2021 or until the marketcap reaches $100K.
🚨What is a Liquidity Generation Event & how it works:
The Liquidity Generation Event (LGE) is designed to provide liquidity to our tokens: Swene (SWN) and Stable (STABLE) on the 2 largest AMMs: PancakeSwap V3 & Uniswap V3.
🔖Read the full Medium article
with the explanation of the Liquidity Generation Event.
💥Join our Telegram community!
Swene upcoming products:
SweneSwap - A crosschain AMM.
SweneYield - A yield aggregator.
SweneApp - An all-in-one fintech app.
STABLE - A stable coin pegged to the top five FIAT currencies.
🔗 Links:
LGE: https://event.swene.io
Website: https://swene.io
Blog: https://blog.swene.io
Announcements: https://t.me/sweneapp
Telegram: https://t.me/swenetalks
An NFT of the photo that inspired Dogecoin just sold for $4M.
That picture of a dog staring into the camera in formal posture.. you know, the one that sparked the Doge meme? Someone just sold it for millions in Ether.
Dogecoin has seen significant attention in 2021 in tandem with its dramatic price rise. Capitalizing on this rise in attention, someone sold a non-fungible token (NFT) of the picture on which the Dogecoin (DOGE) cryptocurrency was based.
“The original image that started it all,” read the description of the NFT, sold on veryauction. “This photo of the Shiba Inu ‘Kabosu’ was taken by her owner Atsuko Sato on February 13th, 2010,” the description explains, adding:
“After sharing it to her personal blog alongside the series of other famous images under the title ‘Taking a walk with Kabosu-chan,’ these photos went on to kickstart the Doge meme and have circulated the web ever since — none more iconic than this picture.”
The NFT was minted by a user named kabosumama on May 31, according to the auction site. The first bid landed on June 8 from a user willing to pay 6.5 Ethereum (ETH) for the piece. Bidding escalated from there. The winning bid of 1,696.90 ETH — over $4M at time of publication — was wagered on June 11.
Topping above $0.70 per coin, Dogecoin’s price has risen substantially in 2021. The asset, however, has fallen notably since then, in line with the rest of the crypto market recently, trading at roughly $0.31 as of time of publication.
Elon Musk, the self-proclaimed CEO of Dogecoin, has posted a number of Dogecoin-related tweets in recent months. Jackson Palmer and Billy Markus created the asset in 2013 as a meme-based crypto parody.
That picture of a dog staring into the camera in formal posture.. you know, the one that sparked the Doge meme? Someone just sold it for millions in Ether.
Dogecoin has seen significant attention in 2021 in tandem with its dramatic price rise. Capitalizing on this rise in attention, someone sold a non-fungible token (NFT) of the picture on which the Dogecoin (DOGE) cryptocurrency was based.
“The original image that started it all,” read the description of the NFT, sold on veryauction. “This photo of the Shiba Inu ‘Kabosu’ was taken by her owner Atsuko Sato on February 13th, 2010,” the description explains, adding:
“After sharing it to her personal blog alongside the series of other famous images under the title ‘Taking a walk with Kabosu-chan,’ these photos went on to kickstart the Doge meme and have circulated the web ever since — none more iconic than this picture.”
The NFT was minted by a user named kabosumama on May 31, according to the auction site. The first bid landed on June 8 from a user willing to pay 6.5 Ethereum (ETH) for the piece. Bidding escalated from there. The winning bid of 1,696.90 ETH — over $4M at time of publication — was wagered on June 11.
Topping above $0.70 per coin, Dogecoin’s price has risen substantially in 2021. The asset, however, has fallen notably since then, in line with the rest of the crypto market recently, trading at roughly $0.31 as of time of publication.
Elon Musk, the self-proclaimed CEO of Dogecoin, has posted a number of Dogecoin-related tweets in recent months. Jackson Palmer and Billy Markus created the asset in 2013 as a meme-based crypto parody.
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Regulated Crypto Exchange Currency.com added 19 new tokens to the listing, including 2 USD and DAI stablecoins, as well as 17 popular DeFi tokens and ICO projects: OMG, BAT, ZRX, MATIC, SUSHI, KNC, WBTC, Augur, AAVE, SNX, YFI, UMA, REN, OCEAN, BAND, BNT, ANT.
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El Salvador minister says it's too early to use Bitcoin for wages.
It’s too soon to talk about Bitcoin-based wages in El Salvador, Minister Rolando Castro stated.
El Salvador's Minister of Labor and Social Welfare has said that the country is not yet ready to adopt Bitcoin (BTC) for salary payments.
In a Wednesday tweet, Rolando Castro denied local reports which claimed that his ministry had begun analyzing the possibility of Bitcoin-based salaries with officials from the Ministry of Finance and the Ministry of Economy on Monday.
Castro stressed that he was just answering a question, stating that it was “too premature to talk about wages.” The official added that he is now focused on finding more and better jobs for El Salvadoreans. “Monetary issues fall under the economic cabinet, and I’m not part of it,” he noted.
The minister's remarks came a week after El Salvador passed President Nayib Bukele's bill making Bitcoin legal tender in the country. Crypto influencers have since flocked to the small Central American nation to meet with Bukele.
As previously reported, El Salvador's 2001 Law of Monetary Integration, which provided a legal basis for replacing the Salvadorean colón with the United States dollar, stipulates that salaries and fees may only be paid in colones or dollars. It’s still unclear whether the approval of Bitcoin as legal tender in El Salvador would expand upon existing law or replace it. President Nayib Bukele's draft of the law states that “tax contributions can be paid in Bitcoin” and “for accounting purposes, the USD will be used as the reference currency.”
It’s too soon to talk about Bitcoin-based wages in El Salvador, Minister Rolando Castro stated.
El Salvador's Minister of Labor and Social Welfare has said that the country is not yet ready to adopt Bitcoin (BTC) for salary payments.
In a Wednesday tweet, Rolando Castro denied local reports which claimed that his ministry had begun analyzing the possibility of Bitcoin-based salaries with officials from the Ministry of Finance and the Ministry of Economy on Monday.
Castro stressed that he was just answering a question, stating that it was “too premature to talk about wages.” The official added that he is now focused on finding more and better jobs for El Salvadoreans. “Monetary issues fall under the economic cabinet, and I’m not part of it,” he noted.
The minister's remarks came a week after El Salvador passed President Nayib Bukele's bill making Bitcoin legal tender in the country. Crypto influencers have since flocked to the small Central American nation to meet with Bukele.
As previously reported, El Salvador's 2001 Law of Monetary Integration, which provided a legal basis for replacing the Salvadorean colón with the United States dollar, stipulates that salaries and fees may only be paid in colones or dollars. It’s still unclear whether the approval of Bitcoin as legal tender in El Salvador would expand upon existing law or replace it. President Nayib Bukele's draft of the law states that “tax contributions can be paid in Bitcoin” and “for accounting purposes, the USD will be used as the reference currency.”
Cointelegraph launches celebrity NFT charity campaign with Binance.
Cointelegraph artists will create digital portraits of celebrities for a Rotary Foundation charity auction hosted on Binance’s newly launched NFT platform.
Cointelegraph is delighted to announce a nonfungible token charity auction in partnership with the Rotary Foundation and the Binance cryptocurrency exchange.
Binance will feature the celebrity-themed charity campaign on its newly launched NFT marketplace, aiming to generate donations supporting financial education for children and training for physicians coping with COVID-19 emergencies.
The charity auction will include an NFT series curated and designed by Cointelegraph and its outstanding art team, with the participation of global athletes, musicians, entrepreneurs and bloggers. As part of the campaign, Cointelegraph’s team of artists will create digital portraits of celebrities willing to support Rotary’s charity efforts through the NFT industry.
Rotary Club Kyiv will channel funds collected through the auction into two separate grants, including an initiative on improving financial literacy for children and the ”Helper" project, a retraining program to prepare doctors to deal with the COVID-19 pandemic.
The auction marks Rotary’s first time getting involved in the NFT industry to support its charitable activities. Regarding this, Rotary International fundraising officer Oksana Tjupa said:
“The NFT project is new for us, but we hope for success in our joint project. The field of NFT art is very promising. We are confident that digital assets have entered our lives as a separate sector of the economy, and now charitable organizations need to learn to work with new formats to implement their charitable missions.”
Rotary’s ultimate mission is to improve global health, alleviate poverty and support education, including the foundation’s plan to educate 10 million children worldwide for the next 10 years.
Some of the celebrities and notable crypto figures who have already signed up for the NFT charity campaign include Ukrainian soccer manager Andriy Shevchenko, Binance CEO Changpeng Zhao, MicroStrategy CEO Michael Saylor, billionaire investor Mike Novogratz, Yearn.finance founder Andre Cronje, and 1inch Network CEO and co-founder Sergej Kunz.
The campaign builds on Cointelegraph’s previous experiences in the world of NFTs. In late 2020, Cointelegraph auctioned off NFTs inspired by famous works of art. In February, Cointelegraph released an NFT series in conjunction with the “Top 100 Notable People in Blockchain 2021,” its list of the most influential players in the crypto industry. Later that month, Cointelegraph and its art team commemorated Bitcoin hitting $50,000 for the first time with an exclusive NFT on the Rarible platform.
Binance, the world’s largest cryptocurrency exchange, launched its own NFT platform and marketplace on Thursday, allowing users to create and trade unique digital collectibles bought online using blockchain technology.
Cointelegraph artists will create digital portraits of celebrities for a Rotary Foundation charity auction hosted on Binance’s newly launched NFT platform.
Cointelegraph is delighted to announce a nonfungible token charity auction in partnership with the Rotary Foundation and the Binance cryptocurrency exchange.
Binance will feature the celebrity-themed charity campaign on its newly launched NFT marketplace, aiming to generate donations supporting financial education for children and training for physicians coping with COVID-19 emergencies.
The charity auction will include an NFT series curated and designed by Cointelegraph and its outstanding art team, with the participation of global athletes, musicians, entrepreneurs and bloggers. As part of the campaign, Cointelegraph’s team of artists will create digital portraits of celebrities willing to support Rotary’s charity efforts through the NFT industry.
Rotary Club Kyiv will channel funds collected through the auction into two separate grants, including an initiative on improving financial literacy for children and the ”Helper" project, a retraining program to prepare doctors to deal with the COVID-19 pandemic.
The auction marks Rotary’s first time getting involved in the NFT industry to support its charitable activities. Regarding this, Rotary International fundraising officer Oksana Tjupa said:
“The NFT project is new for us, but we hope for success in our joint project. The field of NFT art is very promising. We are confident that digital assets have entered our lives as a separate sector of the economy, and now charitable organizations need to learn to work with new formats to implement their charitable missions.”
Rotary’s ultimate mission is to improve global health, alleviate poverty and support education, including the foundation’s plan to educate 10 million children worldwide for the next 10 years.
Some of the celebrities and notable crypto figures who have already signed up for the NFT charity campaign include Ukrainian soccer manager Andriy Shevchenko, Binance CEO Changpeng Zhao, MicroStrategy CEO Michael Saylor, billionaire investor Mike Novogratz, Yearn.finance founder Andre Cronje, and 1inch Network CEO and co-founder Sergej Kunz.
The campaign builds on Cointelegraph’s previous experiences in the world of NFTs. In late 2020, Cointelegraph auctioned off NFTs inspired by famous works of art. In February, Cointelegraph released an NFT series in conjunction with the “Top 100 Notable People in Blockchain 2021,” its list of the most influential players in the crypto industry. Later that month, Cointelegraph and its art team commemorated Bitcoin hitting $50,000 for the first time with an exclusive NFT on the Rarible platform.
Binance, the world’s largest cryptocurrency exchange, launched its own NFT platform and marketplace on Thursday, allowing users to create and trade unique digital collectibles bought online using blockchain technology.
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Cathie Wood's Ark Invest teams up with 21Shares to file for Bitcoin ETF.
Wood recently asserted the crypto downtrend has improved the chances of a Bitcoin ETF securing regulatory approval.
Ark Investment Management has become the latest firm to file for a Bitcoin exchange-traded fund (ETF).
According to a June 28 filing with the United States Securities and Exchange Commission (SEC) submitted in partnership with European exchange-traded product issuer, 21Shares, the ETF would be listed on the Chicago Board Options Exchange’s (CBOE) BZX Exchange and trade under the ticker ARKB.
The ETF would also track the S&P BTC index, with the trust underpinning the ETF also holding BTC directly. The filing has received praise from the crypto industry
Cathie Wood, the CEO and founder of Ark Invest, also serves as a board member to 21Shares. According to CoinShares, 21Shares is currently the fourth-largest institutional crypto product issuer by assets under management with more than $1 billion.
ETF analyst, Eric Balchunas, told BNN Bloomberg that if approved, the Bitcoin ETF would be of significant benefit to 21Shares, allowing the firm to penetrate the U.S. market.
Ark is a big investor in the crypto space, holding shares in Grayscale’s Bitcoin and Ethereum trusts in addition to Coinbase stock. Cathie Wood is also a major Bitcoin proponent, recently reiterating her prediction that Bitcoin’s price will one day tag $500,000 despite the recent crypto downturn.
Despite the SEC having rejected every application it has received for a Bitcoin ETF so far, Wood recently speculated that the odds of an ETF being approved by the regulator improved after the recent crypto retracement.
Earlier this month, the SEC delayed decisions on two major Bitcoin ETFs, extending the review period for the respective Bitcoin ETFs proposed by VanEck and Valkyrie Digital Assets by 45 days each.
Wood recently asserted the crypto downtrend has improved the chances of a Bitcoin ETF securing regulatory approval.
Ark Investment Management has become the latest firm to file for a Bitcoin exchange-traded fund (ETF).
According to a June 28 filing with the United States Securities and Exchange Commission (SEC) submitted in partnership with European exchange-traded product issuer, 21Shares, the ETF would be listed on the Chicago Board Options Exchange’s (CBOE) BZX Exchange and trade under the ticker ARKB.
The ETF would also track the S&P BTC index, with the trust underpinning the ETF also holding BTC directly. The filing has received praise from the crypto industry
Cathie Wood, the CEO and founder of Ark Invest, also serves as a board member to 21Shares. According to CoinShares, 21Shares is currently the fourth-largest institutional crypto product issuer by assets under management with more than $1 billion.
ETF analyst, Eric Balchunas, told BNN Bloomberg that if approved, the Bitcoin ETF would be of significant benefit to 21Shares, allowing the firm to penetrate the U.S. market.
Ark is a big investor in the crypto space, holding shares in Grayscale’s Bitcoin and Ethereum trusts in addition to Coinbase stock. Cathie Wood is also a major Bitcoin proponent, recently reiterating her prediction that Bitcoin’s price will one day tag $500,000 despite the recent crypto downturn.
Despite the SEC having rejected every application it has received for a Bitcoin ETF so far, Wood recently speculated that the odds of an ETF being approved by the regulator improved after the recent crypto retracement.
Earlier this month, the SEC delayed decisions on two major Bitcoin ETFs, extending the review period for the respective Bitcoin ETFs proposed by VanEck and Valkyrie Digital Assets by 45 days each.
🎙AMA Announcement
Crypto Land will host an AMA Session with Pruf in Crypto Land + Pruf chat.
⏱START 3PM UTC 30.06.2021
Prepare your best questions and be ready to participate in time, see you soon.
Please make sure to follow Telegram group @pruftalk.
🌐Website - https://pruf.io
Crypto Land will host an AMA Session with Pruf in Crypto Land + Pruf chat.
⏱START 3PM UTC 30.06.2021
Prepare your best questions and be ready to participate in time, see you soon.
Please make sure to follow Telegram group @pruftalk.
🌐Website - https://pruf.io
AMM DEX EmiSwap Launches Super Rewarding Farming Following Successful Completion Of Launchpad Sales 🚀
Friends, let us share with you a cool insight from EmiSwap, who today, after successfully completing IDO for $550K, go to UniSwap and enable farming their ESW governance token!
Why pay attention to this 💎?
— 100% gas compensation in the Ethereum network
— Staking and farming ESW with an average yield of 150% APR (more at the start, of course)
— Soon launch of staking and farming on Polygon
— ESW as a governance token gives 0.05% of the profit from the DEX daily trading volume to all holders
— A week later, the unique feature of NFT farming (NFTs increase user profits on DEX) goes live
In general, a fresh DEX, the profitability of which in the early stages promises to be sky-high. Join: https://emiswap.com/
PS. ESW tokens will start trading on UniSwap from July 1 ~ 12:00 UTC
PPS. Don't give thanks for the insight
Friends, let us share with you a cool insight from EmiSwap, who today, after successfully completing IDO for $550K, go to UniSwap and enable farming their ESW governance token!
Why pay attention to this 💎?
— 100% gas compensation in the Ethereum network
— Staking and farming ESW with an average yield of 150% APR (more at the start, of course)
— Soon launch of staking and farming on Polygon
— ESW as a governance token gives 0.05% of the profit from the DEX daily trading volume to all holders
— A week later, the unique feature of NFT farming (NFTs increase user profits on DEX) goes live
In general, a fresh DEX, the profitability of which in the early stages promises to be sky-high. Join: https://emiswap.com/
PS. ESW tokens will start trading on UniSwap from July 1 ~ 12:00 UTC
PPS. Don't give thanks for the insight
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Just-In: Grayscale’s $GDLC Adds Cardano (ADA) With 3rd Largest Allocation
The $GDLC fund often reflects the market demand around crypto assets, while BTC and ETH are constant, other altcoins continue to find a place in the fund based on their market demand. Cardano (ADA) is often dubbed as an Ethereum killer for similar network functionality, it is gearing up to implement the last phase of the Alonzo Smart Contract hard fork.
Cardano holders have staked 43.3 Billion ADA estimated to be worth $31 billion and the staked amount represents 71% of the circulating supply. The Alonzo project is seen as the biggest upgrade for the network as it introduces smart contract capabilities. The upgrade is believed to help Cardano give Ethereum, Solana, and Polkadot tough competition.
The $GDLC fund often reflects the market demand around crypto assets, while BTC and ETH are constant, other altcoins continue to find a place in the fund based on their market demand. Cardano (ADA) is often dubbed as an Ethereum killer for similar network functionality, it is gearing up to implement the last phase of the Alonzo Smart Contract hard fork.
Cardano holders have staked 43.3 Billion ADA estimated to be worth $31 billion and the staked amount represents 71% of the circulating supply. The Alonzo project is seen as the biggest upgrade for the network as it introduces smart contract capabilities. The upgrade is believed to help Cardano give Ethereum, Solana, and Polkadot tough competition.
This Is How DAOs Are Taking A Greater Role in the DeFi and NFT Sectors.
Decentralized autonomous organizations (DAOs) have been operating under the radar for a while now. Amid all the excitement over bull markets, DeFi and NFTs, DAOs have found themselves being neglected, despite the fact that they’re coming to play an increasing role within the crypto ecosystem.
From DeFi protocols such as Uniswap (UNI) and Maker (MKR) to NFT platforms such as YellowHeart and JennyDAO, decentralized autonomous organizations are turning up almost everywhere you look in crypto. And while they haven’t received much attention so far this year, new and emerging DAOs are managing to attract millions in investment, while DAOs themselves are becoming more complex in how they operate and manage themselves.
DAOs meet DeFi and NFTs
Despite the relative neglect, there’s little doubt that DAOs have become fairly central to much of crypto.
“Whilst DAOs may not have received attention as a standalone concept this year, they are built into the fabric of the crypto industry and considered vital in the decision-making process for projects and protocols,” said Philipp Pieper, the co-founder of DeFi platform Swarm Markets.
Pieper noted that DAOs have played a key role in the emergence of NFTs and the growth of DeFi, forming an integral part of other verticals rather than being a separate category.
“Level 1 protocols such as Ethereum (ETH) and Polkadot (DOT), both of which have received considerable attention this year, are practicing DAO organizations live in action,” he added.
Pieper is referring to such platforms as PolkaDAO, a decentralized autonomous organization that was launched by Polkadot in 2019 in order to distribute funding to new Polkadot-based projects. He’s also alluding to the LAO, which is a for-profit Ethereum-based platform launched in 2019, also to distribute funding.
But while these DAOs were launched a couple of years ago, the DAO space continues to grow, particularly in parallel with the expansion of DeFi and NFTs.
“Yes, it has emerged and grown substantially. Top examples are mostly exchange-based such as Uniswap, 1inch (1INCH) and Maker,” said Josh Katz, the founder of NFT marketplace YellowHeart.
Decentralized finance — and in particular decentralized funding — really is the biggest emerging area for the DAOs. Most recently, the Bybit-backed BitDAO raised USD 250m in funding in order to finance the development of its decentralized crypto investment fund.
“DAOs are complicated and often slow moving structures; they weren't the most attractive things in this fast-paced fading bull market,” said Charles Watkins, a member of Curve’s core development team.
Decentralized autonomous organizations (DAOs) have been operating under the radar for a while now. Amid all the excitement over bull markets, DeFi and NFTs, DAOs have found themselves being neglected, despite the fact that they’re coming to play an increasing role within the crypto ecosystem.
From DeFi protocols such as Uniswap (UNI) and Maker (MKR) to NFT platforms such as YellowHeart and JennyDAO, decentralized autonomous organizations are turning up almost everywhere you look in crypto. And while they haven’t received much attention so far this year, new and emerging DAOs are managing to attract millions in investment, while DAOs themselves are becoming more complex in how they operate and manage themselves.
DAOs meet DeFi and NFTs
Despite the relative neglect, there’s little doubt that DAOs have become fairly central to much of crypto.
“Whilst DAOs may not have received attention as a standalone concept this year, they are built into the fabric of the crypto industry and considered vital in the decision-making process for projects and protocols,” said Philipp Pieper, the co-founder of DeFi platform Swarm Markets.
Pieper noted that DAOs have played a key role in the emergence of NFTs and the growth of DeFi, forming an integral part of other verticals rather than being a separate category.
“Level 1 protocols such as Ethereum (ETH) and Polkadot (DOT), both of which have received considerable attention this year, are practicing DAO organizations live in action,” he added.
Pieper is referring to such platforms as PolkaDAO, a decentralized autonomous organization that was launched by Polkadot in 2019 in order to distribute funding to new Polkadot-based projects. He’s also alluding to the LAO, which is a for-profit Ethereum-based platform launched in 2019, also to distribute funding.
But while these DAOs were launched a couple of years ago, the DAO space continues to grow, particularly in parallel with the expansion of DeFi and NFTs.
“Yes, it has emerged and grown substantially. Top examples are mostly exchange-based such as Uniswap, 1inch (1INCH) and Maker,” said Josh Katz, the founder of NFT marketplace YellowHeart.
Decentralized finance — and in particular decentralized funding — really is the biggest emerging area for the DAOs. Most recently, the Bybit-backed BitDAO raised USD 250m in funding in order to finance the development of its decentralized crypto investment fund.
“DAOs are complicated and often slow moving structures; they weren't the most attractive things in this fast-paced fading bull market,” said Charles Watkins, a member of Curve’s core development team.
Australian digital finance industry wants to legally recognize DAOs.
A new legal initiative in Australia wants to allow DAO project governors to contract with other legal entities through DeFi tools.
Specialists and lawyers focused on decentralized finance (DeFi) are launching an initiative to create a new type of legal entity in Australia representing decentralized autonomous organizations (DAOs).
The country's Digital Law Association and global law firm Herbert Smith Freehills are lobbying an Australian Senate committee to formally recognize new decentralized models for corporate governance. These new DAO models would replace the board of directors with an internet community, the Australian Financial Review reported Thursday.
The initiative specifically intends to allow “DAO Limited” project governors to contract with other legal entities through DeFi tools, implementing blockchain technology to remove traditional intermediaries like banks and exchanges. Limited liability status will also prevent Australian members of a DAO from being liable for losses incurred by decisions made by a member of the community.
According to the lawyers, legalizing DAOs in Australia could make the country more attractive for global digital asset businesses, as groups of local DeFi entrepreneurs reportedly shift offshore to jurisdictions like Singapore and Germany.
A DAO is a decentralized organization with certain sets of rules that are encoded as a computer program and are usually based on blockchain technology. The first most important attempt to create a DAO was “The DAO,” a machine-operating venture organization launched in 2016.
The news comes as some cryptocurrency exchanges are shifting to a decentralized structure. Yesterday, ShapeShift crypto exchange announced plans to open-source its platform and dissolve its entire corporate structure in a move to underscore its commitment to DeFi. “Inspired by the broader DeFi community, we’ll now help pioneer a new model of economic coordination for the 21st century. No corporate entity, no banks and no borders. The tools are ready,” ShapeShift founder and CEO Erik Voorhees said.
A new legal initiative in Australia wants to allow DAO project governors to contract with other legal entities through DeFi tools.
Specialists and lawyers focused on decentralized finance (DeFi) are launching an initiative to create a new type of legal entity in Australia representing decentralized autonomous organizations (DAOs).
The country's Digital Law Association and global law firm Herbert Smith Freehills are lobbying an Australian Senate committee to formally recognize new decentralized models for corporate governance. These new DAO models would replace the board of directors with an internet community, the Australian Financial Review reported Thursday.
The initiative specifically intends to allow “DAO Limited” project governors to contract with other legal entities through DeFi tools, implementing blockchain technology to remove traditional intermediaries like banks and exchanges. Limited liability status will also prevent Australian members of a DAO from being liable for losses incurred by decisions made by a member of the community.
According to the lawyers, legalizing DAOs in Australia could make the country more attractive for global digital asset businesses, as groups of local DeFi entrepreneurs reportedly shift offshore to jurisdictions like Singapore and Germany.
A DAO is a decentralized organization with certain sets of rules that are encoded as a computer program and are usually based on blockchain technology. The first most important attempt to create a DAO was “The DAO,” a machine-operating venture organization launched in 2016.
The news comes as some cryptocurrency exchanges are shifting to a decentralized structure. Yesterday, ShapeShift crypto exchange announced plans to open-source its platform and dissolve its entire corporate structure in a move to underscore its commitment to DeFi. “Inspired by the broader DeFi community, we’ll now help pioneer a new model of economic coordination for the 21st century. No corporate entity, no banks and no borders. The tools are ready,” ShapeShift founder and CEO Erik Voorhees said.
Cardano grows closer to launching smart contracts with new testnet.
The Alonzo White testnet brings NFTs and various De-Fi use cases one step closer for Cardano.
IOHK, the blockchain development team behind Cardano, announced on July 15 that the project’s Alonzo test net had officially transitioned from Blue to White, bringing with it the ecosystem’s long anticipated expansion to functional smart contracts.
While the previous testnet, known as Alonzo Blue, did offer some smart contract features, these were only available to a limited number of insiders. Yesterday’s upgrade will allow about 500 validators, stake pool operators, and developers to test these features going forward.
Alonzo White is set to run for two to four weeks before upgrading to the final testnet for its current development phase, known as Alonzo Purple.
Despite some recent backlash from others in the blockchain community, Cardano founder Charles Hoskinson recently said in a YouTube video that everything is still on track according to the project's development roadmap, noting that more than $10 million in NFTs have been sold throughout the Cardano network along with “tens of thousands of assets”. Once Alonzo White is released to the mainnet, developers will be able to launch dApps, NFTs and more.
On the heels of the Alonzo White announcement, an NFT and DeFi Marketplace called the Spores Network announced a successful $2.3 million fundraise on July 16. The company stated that it hopes to leverage Cardano's lower transaction costs, lower carbon footprints, and higher transaction throughput to bring NFTs to mainstream users.
With more companies and artists joining the growing NFT market, such as Dolce and Gabbana and a fantasy soccer platform, bringing more NFTs to the network could lead to big gains for Cardano and its users.
The Alonzo White testnet brings NFTs and various De-Fi use cases one step closer for Cardano.
IOHK, the blockchain development team behind Cardano, announced on July 15 that the project’s Alonzo test net had officially transitioned from Blue to White, bringing with it the ecosystem’s long anticipated expansion to functional smart contracts.
While the previous testnet, known as Alonzo Blue, did offer some smart contract features, these were only available to a limited number of insiders. Yesterday’s upgrade will allow about 500 validators, stake pool operators, and developers to test these features going forward.
Alonzo White is set to run for two to four weeks before upgrading to the final testnet for its current development phase, known as Alonzo Purple.
Despite some recent backlash from others in the blockchain community, Cardano founder Charles Hoskinson recently said in a YouTube video that everything is still on track according to the project's development roadmap, noting that more than $10 million in NFTs have been sold throughout the Cardano network along with “tens of thousands of assets”. Once Alonzo White is released to the mainnet, developers will be able to launch dApps, NFTs and more.
On the heels of the Alonzo White announcement, an NFT and DeFi Marketplace called the Spores Network announced a successful $2.3 million fundraise on July 16. The company stated that it hopes to leverage Cardano's lower transaction costs, lower carbon footprints, and higher transaction throughput to bring NFTs to mainstream users.
With more companies and artists joining the growing NFT market, such as Dolce and Gabbana and a fantasy soccer platform, bringing more NFTs to the network could lead to big gains for Cardano and its users.
Rangers Protocol launches Ethereum Virtual Machine-compatible testnet.
The project is branding its testnet as useful to “new developers without blockchain background knowledge."
The Rangers Protocol has opened its testnet to users aiming to provide an Ethereum Virtual Machine-compatible solution that supports cross-chain contract interoperability.
In a Friday announcement, the Rangers Protocol said it had successfully migrated its first Dapp to the testnet which went live on July 19. The project migrated an Ethereum-based lending protocol, BlueStone, to the testnet, a move the protocol described as “smooth and developer-friendly” given Rangers’ Ethereum Virtual Machine, or EVM, compatibility.
Though there are seemingly alternative solutions utilizing blockchain technology friendly to Solidity developers, Rangers Protocol is branding its testnet as useful to “new developers without blockchain background knowledge.” Individuals interested in building using the protocol will reportedly have an easier time creating nonfungible tokens, or NFTs, as well as gaming applications in a permissionless environment.
Rangers Protocol co-founder Mary Ma announced in June that it would be launching its testnet in July following $3.7 million seed and private equity funding rounds. Ma claimed the protocol would have decentralized apps on its network, and include a cross-chain protocol, NFT protocol, and EVM compatible system. The project is reportedly the work of three years of development.
Crypto also recently launched its chain testnet allowing projects built on EVM-compatible chains to transfer over to its ecosystem. The open source testnet, Cronos, runs on a proof-of-authority consensus algorithm and is powered by proof-of-stake chain Ethermint.
Originally branded as the Rocket Protocol, Rangers is a China-based crypto company with an estimated valuation of $63 million. Venture funds backing the project include Pantera Capital, Huobi Ventures Blockchain Fund, Framework Ventures, Alameda Research, AU21 Capital, Hashkey Capital, SevenX Ventures, SNZ, Spark Digital Capital, and others.
The project is branding its testnet as useful to “new developers without blockchain background knowledge."
The Rangers Protocol has opened its testnet to users aiming to provide an Ethereum Virtual Machine-compatible solution that supports cross-chain contract interoperability.
In a Friday announcement, the Rangers Protocol said it had successfully migrated its first Dapp to the testnet which went live on July 19. The project migrated an Ethereum-based lending protocol, BlueStone, to the testnet, a move the protocol described as “smooth and developer-friendly” given Rangers’ Ethereum Virtual Machine, or EVM, compatibility.
Though there are seemingly alternative solutions utilizing blockchain technology friendly to Solidity developers, Rangers Protocol is branding its testnet as useful to “new developers without blockchain background knowledge.” Individuals interested in building using the protocol will reportedly have an easier time creating nonfungible tokens, or NFTs, as well as gaming applications in a permissionless environment.
Rangers Protocol co-founder Mary Ma announced in June that it would be launching its testnet in July following $3.7 million seed and private equity funding rounds. Ma claimed the protocol would have decentralized apps on its network, and include a cross-chain protocol, NFT protocol, and EVM compatible system. The project is reportedly the work of three years of development.
Crypto also recently launched its chain testnet allowing projects built on EVM-compatible chains to transfer over to its ecosystem. The open source testnet, Cronos, runs on a proof-of-authority consensus algorithm and is powered by proof-of-stake chain Ethermint.
Originally branded as the Rocket Protocol, Rangers is a China-based crypto company with an estimated valuation of $63 million. Venture funds backing the project include Pantera Capital, Huobi Ventures Blockchain Fund, Framework Ventures, Alameda Research, AU21 Capital, Hashkey Capital, SevenX Ventures, SNZ, Spark Digital Capital, and others.
Take Part in PrimeXBT’s $20,000 Giveaway!
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Institutions continue offloading BTC exposure despite price rebound.
Bitcoin funds are still in decline as institutional sentiment remains bearish.
Investments in institutional Bitcoin products have continued to decline this past week.
In its July 26 Digital Asset Fund Flows report, CoinShares notes institutional crypto products have experienced outflows for the third consecutive week, with $28 million exiting the sector during the week ending July 23. As such, the week saw a 170% increase in outflows compared to the $10.4 million for the previous seven days.
The findings revealed that Bitcoin-based funds saw the largest outflows with $24 million, or 85% of combined outflows from crypto products. Monthly outflows for BTC are now at $49 million, although year-to-date flows remain positive at $4.1 billion. CoinShares stated:
“Last week’s outflows suggest negative sentiment still pervades the asset class despite more recent constructive comments from key industry players.”
Ether products also saw outflows of $7.3 million over the week, while multi-asset funds bucked the trend with a net inflow totaling $3.1 million. The report added that multi-asset funds are the only class of crypto investment products that have experienced net inflows for every week of 2021 so far.
Despite the downturn, leading crypto asset manager, Grayscale, recorded an inflow of $2.5 million for the period. Its latest assets under management bulletin reports total assets under management of $33.6 billion as of July 27.
CoinShares concluded that investment product turnover remains low at $1.7 billion for the week — comprising just 22% of May’s weekly average.
However, CoinShares’ data was recorded before Monday’s bullish market action that saw Bitcoin gain 15% in less than three hours.
Bitcoin funds are still in decline as institutional sentiment remains bearish.
Investments in institutional Bitcoin products have continued to decline this past week.
In its July 26 Digital Asset Fund Flows report, CoinShares notes institutional crypto products have experienced outflows for the third consecutive week, with $28 million exiting the sector during the week ending July 23. As such, the week saw a 170% increase in outflows compared to the $10.4 million for the previous seven days.
The findings revealed that Bitcoin-based funds saw the largest outflows with $24 million, or 85% of combined outflows from crypto products. Monthly outflows for BTC are now at $49 million, although year-to-date flows remain positive at $4.1 billion. CoinShares stated:
“Last week’s outflows suggest negative sentiment still pervades the asset class despite more recent constructive comments from key industry players.”
Ether products also saw outflows of $7.3 million over the week, while multi-asset funds bucked the trend with a net inflow totaling $3.1 million. The report added that multi-asset funds are the only class of crypto investment products that have experienced net inflows for every week of 2021 so far.
Despite the downturn, leading crypto asset manager, Grayscale, recorded an inflow of $2.5 million for the period. Its latest assets under management bulletin reports total assets under management of $33.6 billion as of July 27.
CoinShares concluded that investment product turnover remains low at $1.7 billion for the week — comprising just 22% of May’s weekly average.
However, CoinShares’ data was recorded before Monday’s bullish market action that saw Bitcoin gain 15% in less than three hours.
🇬🇧 Crypto Exchange Currency.com joined the British crypto association CryptoUK
Regulated Crypto Exchange of Tokenized Assets Currency.com joined CryptoUK, the UK cryptocurrency association.
CryptoUK is a self-regulating trade association of the United Kingdom, works to raise industry standards, eliminates misconceptions about the cryptocurrency sector and establishes a dialogue with the authorities. Currency.com joins the association as an executive member.
Along with other members of the association, the crypto exchange will provide information to regulatory and policy-making bodies in order to facilitate the development of new regulatory norms in the crypto sector.
Along with Currency.com, CryptoUK’s executive members are Crypto(.)com, CryptoCompare, BCB Group, Electroneum, eToro, Ripple, Simmons & Simmons and others.
Register and trade on Currency.com top cryptocurrencies and tokenized assets!
Regulated Crypto Exchange of Tokenized Assets Currency.com joined CryptoUK, the UK cryptocurrency association.
CryptoUK is a self-regulating trade association of the United Kingdom, works to raise industry standards, eliminates misconceptions about the cryptocurrency sector and establishes a dialogue with the authorities. Currency.com joins the association as an executive member.
Along with other members of the association, the crypto exchange will provide information to regulatory and policy-making bodies in order to facilitate the development of new regulatory norms in the crypto sector.
Along with Currency.com, CryptoUK’s executive members are Crypto(.)com, CryptoCompare, BCB Group, Electroneum, eToro, Ripple, Simmons & Simmons and others.
Register and trade on Currency.com top cryptocurrencies and tokenized assets!