August 25, 2021
Comments Off on European Football Clubs Generate $200 Million from Fan Tokens
Few European soccer teams made $200 million in returns through the Socios application. The application has nearly 1 M active users that will help them cause influence to their teams.
Fan Token and Market Caps
The Socios application is a platform to market tokens for digital currencies. More than twenty-three sporting companies give digital fan tokens via the social platform. All of these platforms have a huge traffic of members. These sporting teams generate revenue through direct transactions from their site. According to Live data for Juventus fan tokens, the kick-off was at 13.39 dollars. It was with seventeen million dollars as the market cap. FC Barcelona was at 21.65 dollars with more than seventy-two million as the market cap. Another group was PSG going for 33.36 dollars fan token. They had ninety-seven million dollars of market cap. The fan token for the three groups opened on Monday.
What’s a Fan Token?
In the space of cryptocurrencies, tokens are digital assets representing proof-of-ownership. This is what we can call, the membership program. Tokens are normally used in many ways via the support of blockchain technology. Today, the Socios application is to meet the needs of football enthusiasts. Through this platform, fans can get voting benefits. This can cause a craze in the club via the acquisition of unique fan tokens.
In early August, Barcelona’s footballer Lionel Messi entered into a contract with PSG. This deal commenced for amounts worth 41 million dollars. The deal was to go for 2 years from which fan tokens will help to settle a segment of that contract. The PSG company never revealed the number of tokens Lionel got. But they did say that the amounts were tangible.
UFC into Fan Tokens
Football is not the only game taking fan tokens with a blast. An announcement from UFC revealed their plans. They showed signals to initiate ownership of a blockchain fan token. This will be a partnership between UFC and Chiliz. Here a maximum of twenty million tokens will sell through the Socios platform. It’s a move that focuses on giving clients a gateway to a number of perks.
The report came through recently. As the company continues to get deep into matters of digital currency goodies. They are even popping advantages coming from such implementation. This includes voting rights on various production components. Another key advantage is an opportunity to get exclusive investments.
More Innovative Ways
The PFL (Professional Fighters League) introduced a token with full ownership. They sold 300 thousand in about ten minutes at 2 dollars each. Both UFC and PFL are looking forward to innovative ways of raising fan engagement. For instance, the UFC entity has at least 626M fans across the globe. As a result, fan tokens have now become a special technique. The usage is to link UFC and fans via thrilling and genuine products. Through such products, fans are able to interact with UFC. Therefore, creating influence and rewards for the sporting activity.
August 24, 2021
Comments Off on High Court: Digital Currencies are no Longer ‘Protected by Law’ in China
Digital currencies are no longer under protection by Chinese law. This was a court case conclusion towards a cryptocurrency case filed in one of the courts of law in China.
Crypto Cases not Workable
On Sunday, the court of law in China gave a statement publicly to ‘disown’ the crypto business. This happened after courts in China encountered a plaintiff. This person traded $10,000 in cryptocurrencies. His decision towards investment was a result of a friend’s endorsement. The Chinese government was running up and down in this phase. He did so to crack down on the crypto business in the land. Accounts related to the digital currency business closed down. Therefore, affecting most clients, negatively. This was by the Central bank who supported the ban on all crypto-related operations in 2018. During this time regulators outlawed miners. This caused a huge miner migration to other regions like the United States of America.
“Spike in Miners Feet”
The High Court in Shandong stated that the filed case on cryptocurrency was difficult to work on. The complexity of the case was due to the absence of appropriate laws to protect the crypto business. In their statement, the high court said that the law no longer protects cryptocurrency. This is the kind of risk and danger people already investing in the crypto business in China, are facing. It seems such a comment gives no assistance to the entire crypto traders crying for justice. As a result, crypto platforms can now ‘dance with joy to such a ruling. Additionally, such a ruling presents precedence for courts of law in China.
Since 2013, centralized investments and monetary transactions related to cryptocurrencies are illegitimate. Probably, a more heavyweight blow is yet to face Chinese investors. It is primarily related to the crypto communities.
Other Crypto Stories in China
Moving away from this, Zhenjiang a Chinese prosecutor did something unique. He submitted a crypto-related case in the previous week. In this case, 8 individuals transacted using BTC (Bitcoin). They did so to facilitate the exchange of renminbi with the S.A Rand. It’s a move that displayed deception. This was especially in the laid-out restrictions on exchange and withdrawal activities. This violated the rule to exchange and withdraw a maximum of $50 thousand dollars.
Since 2019, BTC has been active in China so far attracting many transactions amounting to at least 1.4B Yuan. There was a recommendation to jail 6 out of 8 victims. This was because they were involved in the mentioned violations. Jail terms were to range from 2 to 4 years. And thorough investigations to unearth more findings continue. The prosecutor recommended the jail terms.
A similar case happened near the Jiangsu region. He took the circumvented power supply to boost his mining activities. Also, he stole at least 26 thousand Yuan worth of power supply. He got jailed for over an year.
August 21, 2021
Comments Off on What are the latest regulations brought in cryptocurrency?
Years had gone by when the actual boom of digital currency started. After which, several blockchains began attracting the attention of most people. Among the key stakeholders in crypto, the game is legislators across the world.
Governments and Virtual Currencies
There is a lot of commotion and inconsistency in addressing critical concerns. Most of which were by the current trends in technology. In 2019, the main focus was on tokenization, while in 2020, Defi became the top story. Defi platform fetched billion dollars in investments. Among the most traded cryptocurrencies include Bitcoin, Litecoin, Dogecoin, and Ethereum. Of course, Bitcoin sits at the top to become the most invested cryptocurrency in the world today. Bitcoin was primarily created to replace the traditional form of money.
Governments continue to fight the entrance of cryptocurrencies into the ecosystem. A significant cause for this is issues like money laundering. Also, criminal affairs. The EU government proposed stiff policies to fight money laundering. This is mainly for exchange platforms within the European Union. But, digital currencies play a significant role in making international transactions less expensive. Despite that, to block criminal activities, financial regulators have to take these measures. They are to work together with technology specialists to eradicate this problem. Working together will formulate friendly laws that will work for everyone.
1.Digital Currency Crimes and Taxation
Currently, the governments are increasing taxes. This would report responsibility to aid IRS trace the virtual currency tax evasion. Several legislators and crypto enthusiasts continue their argument about the draft. There are attempts to raise and add weight to crypto regulations. They are doing so to Mitigate Cyber threats caused by these digital solutions. Cyber attacks are terrible as there are many cases like the Colonial Pipeline.
2.Report Submission on Tax Details
Firms dealing with crypto businesses are to submit reports containing tax details. These details have a link to investments to IRS beginning in the year 2024. According to some sources, the regulations are trader-friendly. Since they will be making crypto-tax compliance more straightforward for traders.
3.ETF and Digital Currency
Governments are considering ways of making it more difficult to use digital coins. This is because of numerous illegal activities and taxation issues. For instance, Americans cannot buy into virtual businesses via traditional trading accounts. This also includes services like the Vanguard. SEC is still silent on the approval of proposed ETFs. This is amid proposed finances coming from different companies and exchange platforms. It’s until the ETF gets permission that entities will be able to purchase more securities. The security will help track the value of a given digital currency. Therefore, traders can only buy digital coins direct from exchange platforms.
What Traders Should Take Home
Digital currencies ETFs aren’t present in some regions like the United States of America. While that’s the case herein, they may allow traders to dive into digital currencies. But, this will be without direct purchases from an exchange in the coming days.
August 20, 2021
Comments Off on Race Towards the Moon – SOL Company
Patience pays, and this is what’s happening to investors possessing Solana and SOL coins. Investors are going to get rewards for being patient for quite some time now. The blockchain system has broken its record of hitting all-time highs. This news is especially good for crypto enthusiasts.
Bull-push to Another Level
Solana blockchain system mainly puts focus on swiftness, cost-saving as well as security. It’s well known for fast transactions and related processes with lowered costs. The advantages are much more in comparison to the Ether blockchain. Such benefits have lured clients to the network and decentralized apps like the NFTs.
It’s a good day for the altcoin, which outshines popular digital currencies like Ether and BTC. This had happened several times back, for instance, in the year 2021. During this time, investors garnered about 1,900 % returns. This was simply because investors held SOL for at least 12 months. With SOL, you find that Layer one ‘kills’ the necessity for Layer two or the scale solution. The scale solution comprises such aspects as MATIC. The framework contributes to swifter transactions for Ether.
This week, August 16, SOL recognized the significance of social interactions. This has not been the case in the last 16 months, according to reports from Santiment. SOL got a push towards the 9th rank by euphoria, therefore, managing to become a leader in the crypto space. Outperforming most of the altcoin economic systems, SOL coins hit a doubled gain. These gains were nearing 100 percent in the past week.
A wormhole is Making the Difference
Few aspects catalyzed the difference in Solana’s economic system. One of them was the introduction of Wormhole. This is another quality framework of the SOL cross-chain. Wormhole links SOL with the Defi platform. This helps in the enhancement of message exchange. Message exchange and the transfer happen within the inter-blockchain system. The move got activated on 9th August before changes in pricing. There is a protocol that facilitates communication among tokens and NFT’s. This also links these tokens to the pricing data and blockchains that didn’t link up before.
Investors can now transfer assets and communicate without delays in the wormhole. This development has set a platform. This is for any project planning to embrace cross-chain liquidation. While that’s the case, SOL will experience a boost, especially to coins within its network.
What Today’s Pricing Means
Today’s pricing is more likely to mark the start of a long-term bull run. This is mainly because rivals like Ether are generally affected by inefficiency. Ether blockchain supports dApp and attracts expensive gas charges and network clogs. Transactions jam along the way, especially when there are network peaks.
Solana’s team is still confident about its potential. They say its blockchain is capable enough to process at least 50k transactions in a given second. This shows how the economic system grows with at least $2B of staked and capitalized tokens.
August 11, 2021
Comments Off on Recent Report from Tether Holdings Reveal 10 Percent USDT Backing
Recently, Tether made an assurance publication with details of its financial elements. Moore Cayman is the company that responsibly carried out the audits.
10% Backing Through Cash
Tokenization by Tether has the support of the American currency. This means that the company should store a reserve of funding equal to USDT values in the ecosystem. Also, the company has received some criticism. This is because of failing to support tokenization with the American currency. However, the announcement that Tether released offers a breakdown. Above all, this has affected the firm’s current financial reserve. The firm has assets close to 63B dollars. From which 6.3B dollars channels to financial institution deposits.
In their report, Tether announced an examination of an assertion. This is by the entire board of management. In their view, the group’s Consolidated Reserves Report “CRR” had laid out procedures. In addition, new findings showed that financial assets amount to about 62B dollars. This is clearly categorized in the Consolidated Reserves Report. Furthermore, the consolidation of assets surpassed liabilities already in consolidation.
The virtual assets by the Tether team allow every client to swiftly transact. In reality, the virtual asset field is growing quickly. This is with huge innovations which lower costs and other key factors. Above all, the access increment and adoption strategies have been on the trend due to the lowered costs. Clients using virtual assets from the firm have to understand some crucial aspects. Moreover, these aspects are threats and predictions playing around law and policy needs.
Company’s Remaining Assets
Ten percent is a tangible increment from the firm assurance release in May. The report recorded three percent of total assets in form of liquid cash. In this week’s announcement, there are indications. USDT has substantial support through cash, commercialized paper works, and deposit certification. Disclosed statements showed this. 75 percent of the company’s financial reserves are by treasury bonds. Such an instrument is a huge short-term debt offered by extra-large entities. Therefore, such entities include financial institutions like central banks and companies.
Tether has valuable assets. This amounts to 2.5 billion dollars of secured loans, and expensive metals worth 4.8 billion dollars. Other valuable assets comprise virtual tokens worth 2 billion dollars.
In history, we have had cases of criticism. This is towards Tether Holdings Limited for failure to produce essential audits. These audits are in connection to cash assets. Above all, it remains unclear on report reliability and satisfaction. However, this has turned to become an assurance view other than correct audits of the firm. In comparison to other digital assets, full audits from the company may fail. Transactions linked to USDT are from digital ledgers in blockchain technology. However, it’s impossible to carry out verification using the manual process. In conclusion, this is because of the firm’s collateral existence in private-owned accounts.
August 10, 2021
Comments Off on Impacts of Bitcoin Trends on World’s Ecosystem
Looking back to the year 2009, countless people have chosen Bitcoin. Not only that, but other virtual currencies are also up for investment. BTC craze in the year 2017 saw most individuals try to buy this digital coin. Others showed less seriousness due to speculations that digital currencies lack value substantially.
“Way of Thinking”
While that’s the case, people’s way of thinking is forceful. All of this, amidst the pandemic. Coronavirus caused an economic depression. It even displayed the fragility level of the existing financial ecosystem. As a result, institutions and retail hubs, and traders chose to go the Bitcoin way. This is because Bitcoin openly proved a reliable and tangible value. This was especially while dealing with inflation.
Many platforms have emerged to offer buy and sell services of Bitcoin to their customers. In return, consumers can land on huge returns like fiat monies. Before the digital currency had few fans but these days people are seeing the essence of BTC. Now, the whole transition is impacting the financial systems. It is so powerful that the whole ecosystem around the global environment is shaking.
Blockchain Technology and BTC
Satoshi Nakamoto is anonymous to this day. He founded BTC in the year 2009. His key objective was to initiate a virtual P2P payment procedure or networks. These payment procedures or networks would become accessible with zero interference from brokers. Bitcoin was the firstborn of all cryptocurrencies besides Ethereum (Ether), Litecoin, and Dogecoin. These digital currencies do not involve governments or central banks. It’s an algorithm that heavily relies on arithmetic processes called mining. Millions of nodes (computers) are together in a decentralized manner. In sync, they provide the power necessary for creating mints. The blockchain system is a digitized ledger framework facilitating decentralization. Furthermore, the BTC does not ‘dwell’ like the traditional currencies. Rather, it exists on public ledgers. The transaction information on these ledgers is beyond any manipulation. So. duplication or falsifying transactions is almost next to impossible.
BTC makes use of a technology that helps to arrange the transactions in blocks. In this case, there’s the use of an aspect known as cryptography.
The chaining of blocks in the entire blockchain comes with advantages worth understanding. Unlike the traditional forms of currencies, BTC has limits for tokenization. Bitcoin has the capacity to distribute millions of coins. But its upper limit is set for twenty-one million. The mining activity has already led to the generation of at least 18 million Bitcoins. What happens when Bitcoins are scarce? The value of cryptocurrency increases as governments may print more fiat money. For example, several governments have gone ahead to pump more money into the market. This is due to the existing pandemic. As a result, the process has caused dilution, especially in most people’s accounts.
Bitcoin is to mitigate such occurrences. In this case, halving rewards BTC miners and makes sure that fewer coins are in circulation at a given time.
August 8, 2021
Comments Off on What is Yield Farming?
Yield farming is among the top trending systems in the financial industry globally. In the year 2020, yield farms have taken the economic system as a whole by force.
Traders can grab returns that are important in locking Defi cryptocurrencies through this. As you continue to read through, you will notice that yield farming is a technique of attraction. People interested in the whole matter of investment favor yield farming. Still, they can know the levels of anticipated risks.
Yield farming is merely a procedural way to allow holders to earn great rewards. These rewards are usually attached to their assets. This technique allows every trader to deposit a unit of a given digital currency. Deposits thereof are with lending protocols. This helps in gaining interests courtesy of investment fees. Other clients get additional awards from the tokenization program.
Bank Loans and Yield Farming
They have similar characteristics with loans from financial institutions. For instance, let’s take a bank loan for example. A loan with the applicable interest is with the principal amount. Now, yield farming performs a similar job. Here, financial institutions are digital holders like other crypto clients. This technique makes use of “inactive crypto.” These are waste in a given crypto exchange or even hot wallets.
Furthermore, the yield technique functions well with liquidation. Even pools that power Defi markets at large are a good match. Providers for liquidation are simply investors who deposit a fund with smart contracts. Pools, in this case, are intelligent contracts topped up with liquid cash. Generally, the yield farm works on a model based on AMM (Automated Market Maker). The AMM is prominent, especially when dealing with decentralized exchange platforms. The model gets rid of buy and sell-off books within the digital currency exchange.
Creation of Pools
The Automated Market Maker can create pools as powered by a smart contract. Pooling, in this case, executes investments that are on a given protocol. People don’t necessarily need to state prices attached to assets to make sales.
We also have LPs (Liquidity Providers) responsible for making fund deposits. The Automated Market Maker hugely depends on such providers. Pooling, in this case, acts as bedrocks of numerous Defi markets. Clients can therefore exercise borrowing, lending a and swapping activities. Clients already enrolled with Defi usually pay investment charges. After that, the market distributes the fee with providers about their pooling shares.
Yield Farming Mathematics
Within the markets, there is always an estimation of yield rewards. Calculations are on annual models which display possible tips for crypto lockups. Terms like the APY (Annual Percentage Yields) and APR (Annual Percentage Rates) apply. The only difference between the two is interest rates? In addition, the Annual Percentage Rate does not look into compound interests to raise earnings. Sometimes, it may be hard to calculate revenue on yield farming due to market dynamics.
August 6, 2021
Comments Off on Tackle LGBTQ Homophobia. Megan Thee Stallion Urges Rap Community
An artist shared a bitcoin-related video. She showed how people should transact with Bitcoin using the Cash Application. Megan Thee Stallion is the rap artist who took the approach. She decided to teach her followers about the whole Bitcoin craze. She says that her upcoming projects shall shock the world. People are likely going to experience amazing energy, she adds.
Megan Jovon Ruth Pete, Megan Thee Stallion’s real name, is an American rapper. She originates from Texas. She is growing courtesy of freestyle videos raising her popularity on social platforms. With over 24 million followers, Megan has very strong beliefs. She believes that the reckons evolving around the rap community will come to an end. The rapper is aware of the homophobia that’s causing hatred. This depicts fear among Lesbian, Gay, Bisexual and Transgender individuals. Thee Stallion teased her newly found Bitcoin. She also shared her opinions about LGBTQ. The rapper was more concerned about their acceptance in the community. This comes just after DaBaby’s view on people with HIV.
What Did DaBaby do?
DaBaby’s apology came after his removal from the list of NYC’s next game. It’s not the first apology for insensitivity in his statements. He has given a few more in the past on individuals living with HIV and gay people. Earlier this week, DaBaby got a backlash just after his rant on LGBTQ people. In his statement, he said that people approached him with kindness and also came to him privately. It was an opportunity for wisdom, learning, and resource exploitation. DaBaby required this and gladly, he received it. Still, in his statement, DaBaby wrote his apology to the LGBTQ people. In his letter, he was citing his statements repeatedly.
Megan Fights Back
Speaking to a reputable news channel, the rapper said it’s high time for representation. She continued to say that people’s representation is very vital. It is very crucial especially towards people living with ‘defects,’ he adds. People should be compassionate and should accept one another despite their conditions. Thee Stallion ignited the stage in Lollapalooza. She said it was interesting to appear again on the platform. Megan is now busy working on her upcoming songs releasing soon. She added that her fans were incredible and showed extreme synergy. Now, she loves coming back to the platform as well as interacting with her hotties. It’s the best place to have the best times.
Package of Shock and Surprise
In regard to her upcoming projects, Megan says, it will turn out a surprise and shock. The rapper is slowly maintaining her project with quiet paces and good things are yet to come. She is busy building stuff that will make her and others feel nice in the near future. Megan is a rapper with a rising career and still, remains meek. Her career started 24 months back and the learning ground has helped her to remain glued. The queen of raps is currently taking a course in a health-related field and she loves it. Taking time to finish papers and tackle school projects makes her streamlined.
July 28, 2021
Comments Off on The First-Ever Crypto Awards 2021
The Crypto Awards 2021 is all set to rate the best crypto projects and companies. This will focus on the reviews and feedback from real users and customers around the world.
The initiative is by FINEXPO and will allow the crypto community to choose the best out of the best. It will rank cryptocurrency investment platforms. The sole basis shall be feedback recorded by real investors. This drive is the first of its kind and is much awaited by crypto enthusiasts.
The Cryptocurrency market has witnessed an unprecedented upsurge. That too during the pandemic and it attracted millions of new investors. As the crypto space has a volatile nature, the experience of new members is not always pleasing.
However, there are innumerable choices of investment currencies out there. Therefore, some even find the preliminary phase overwhelming. The rankings provided by Crypto Awards at the end of the event could be very useful for enthusiasts.
New participants and potential investors will discover the lesser-known yet safe investment projects. Thanks to this venture. They would be able to pick the most reliable projects for future investments.
You Are The Critic
Crypto Awards is a People’s choice award, which means the judge is no one but the real users themselves. There are 88 nominations from crypto market experts. These are under the scrutiny of real players who are also in charge of delivering the final verdict. Thousands of crypto projects and companies will participate in this honest rating process. They will compete against each other to establish themselves as the best. The said nominations cover almost all areas related to cryptocurrency. Each category will see its winners awarded at the Blockchain Fest 2021.
The Award not only covers crypto projects and companies. It also acknowledges some of the distinguished personalities in this space. Special nominations to honor these personas for their exceptional contribution to the industry.
The Hype Around It
Unlike any regular awarding system, Crypto Award’s mechanism is extremely simple and transparent. It doesn’t constitute experts to select the winners. The model screams ” people for people.” And why not? Who could be a better judge of the performance of investment projects and companies? Then the folks who have used them and experienced their services personally.
Crypto Awards has currently received a significant number of entries. It is encouraging the crypto community to participate in a greater number. However, the ranking will be fair when all the leading companies take part. It will benefit the investors by finding out safe platforms for investments. Also the projects, exchanges, and organizations in establishing their credibility. In addition, to induce trust in potential clients.
The pandemic is coming to an end. Crypto Awards would be organizing a global ceremony with Blockchain Fest in Cyprus. This will be at the end of this year and will become an annual event in the future.
July 27, 2021
Comments Off on Amazon is Planning to Allow Customers to Use Cryptocurrency
Bitcoin saw a recent surge. This pump is to be because of speculations that Amazon is planning to consider Bitcoin soon. The reports said that Bitcoin will integrate with the leading market in some months. However, Amazon denied the media reports.
Job Posting led to 14% Rise
The jump was 14% up within one day and almost reached 40,000 dollars for each unit. Afterward, the currency settled close to 37,000 dollars. Monday’s upward movement resulted in quite a long slide. Within April 2021, Bitcoin experienced a high of 65,000 dollars after sliding to below 30,000 dollars. Other speculations on this surge may lead to investors purchasing more Bitcoin. This would have been so to fill up gaps having bets on its fall in value. But, it’s tough to keep tracking the short intervals in digital currency.
Amazon had earlier posted a job seeking to hire developers for the market’s Virtual currency. The need posed the applicant to be a blockchain strategist. The online market platform has seventy-four job listings and descriptions attached to them. The definition of these jobs has hinted at the adoption of blockchain. Most of these job listings were from 2021. However, they were not mainly for developing a blockchain system. The line said people in ‘blockchain’ jobs should have industry-specific experience.
Amazon is not “Not Guilty.”
Earlier this week, the market leader pleaded “not guilty.” He said the company has no plans to accept crypto payments by December 2021. It also denied the fact that it’s looking forward to introducing its cryptocurrency coin. Besides these allegations, Amazon gave an acknowledgment that it had similar plans. However, that is to explore the functionality of digital currencies within its market. In a statement, they have a strong belief that tomorrow will be on innovations. Such technological discoveries will be important in ensuring modernized and less costly transactions. In addition, they hope to cause that ‘tomorrow’ innovation to their clients sooner. Top researcher, Davidson, covered Amazon for the trading bank. He has mixed reactions to Bitcoin acceptance by Amazon.
The Surge Revives Markets
The Bitcoin value jump has come to save markets that were ‘in the mud’ for months. In May, Bitcoin experienced minimal volatility. This was amid pressure from regulators cracking down on cryptocurrencies. The crackdown in China rose because of cryptocurrency’s effects on the environment.
Companies Accepting Digital Coins.
In the world today, a considerable number of firms are accepting digital coins. This is so that they can carry out several transactions at once. In the previous week, the CEO of Tesla company, E.Musk, commented in favor. He showcased interest to accept the Bitcoin currency in the future. This would ensure faster and inexpensive transactions by its consumers globally. Tesla is currently conducting a thorough investigation on the use-case of renewable energy. This power is necessary, especially when mining cryptocurrencies online.