Publicly Traded Company Buys 833,000,000 SHIB to Offer its Investors Meme Exposure

Publicly Traded Company Buys 833,000,000 SHIB to Offer its Investors Meme Exposure

Though worth just $50k, Tokens.com notes it is the first publicly-traded company to expose its investors to the SHIB cryptocurrency.

Publicly traded company Tokens.com Corp announced on Monday that it had bought 833 million SHIB tokens earlier this month.

While a good amount of tokens, this investment was worth between $50,000 and $60,000 the day the company bought the tokens. Tokens.com said it bought SHIB tokens on Nov. 3, less than a week after its ATH, when the price was between $0.000071 and $0.0000632.

But the fact that a publicly-traded company has invested in the meme coin, though a crypto-focused company, it’s a good thing for SHIB.

“We believe we are the first publicly-traded company to provide its investors with exposure to SHIB tokens,” commented CEO Andrew Kiguel.

As of writing, SHIB has been trading at $0.00005606, down 35.5% from its all-time high of $0.00008616 hit eleven days back when it surpassed its competitor Dogecoin in market cap. Since then, the $36.8 billion market cap DOGE has taken its place, at 9th place, above Shiba Inu’s 11th place with a market cap of $30.7 bln.

In its official announcement, the company defined Shiba Inu as an Ethereum-based token alternative to Dogecoin (DOGE), which operates on the environmentally friendly Proof-of-Stake (PoS) platform. Unlike Dogecoin, which is just a meme coin, the SHIB ecosystem also supports NFT, GameFi, and decentralized trading through Shibaswap.

“Shiba Inu has evolved to become one of the largest, most popular, and liquid cryptocurrencies in the world with a very loyal following,” said Kiguel adding it was due to the low trading price of SHIB that they were able to purchase a significant number of tokens.

Recently, the SHIB community got some excitement going for it when it was found that the source code of Elon Musk’s electric car maker Tesla’s website had Shib under the payment type section.

ShibaSwap developer also acknowledged this on Twitter but said Musk could very well be trolling the SHIB community, or it could be a code name for some other dog currency like Dogecoin, which Musk favors. Nothing regarding this has been revealed by Tesla yet.

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Author: AnTy

Fintech Revolut Is Launching its Own Token, Which Will Be Earned By Users

Fintech Revolut Is Launching its Own Token, Which Will Be Earned By Users

Fintech company Revolut that offers cryptocurrency buying, selling, and trading, is now exploring launching its very own cryptocurrency token.

About three months back, the UK-based neo bank raised $800 million in funding at a valuation of $33 billion. Revolut has more than 16 million customers and sees over 150 million transactions per month.

Revolut offers access to more than 50 cryptos and, in its earnings call in June, said crypto services make up about 20% of its revenue.

Now the company is planning to launch its own token, which will be something like an exchange token instead of a stablecoin, reported CoinDesk, citing two people with knowledge of the plans.

“It’s a ‘Revolut users earn a token’ type of thing, similar to Wirex and Nexo,” said the source. Card issuer Wirex has a token called WXT, and the crypto lender Nexo has the  NEXO token.

The launch of the token, for which Europe and locations outside the US are being targeted, is subject to approval from the U.K.’s Financial Conduct Authority (FCA).

The firm already holds a European Union banking license and recently secured a US broker-dealer license to compete with the likes of Robinhood and Square, after launching in the U.S. last year just as the pandemic began.

“We are building a single app where people can manage all aspects of their finances, from banking and foreign exchange, to cryptocurrency and stock trading,” said CEO and founder Nik Storonsky at the time.

A couple of weeks back, Revolut became WeWork’s first enterprise members to pay for office space in Dallas using Bitcoin. The office-sharing giant first began accepting crypto as payment in April.

The company will eventually aim for a public listing in the UK, US, or maybe even a dual listing, Storonsky said.

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Author: AnTy

Mastercard to Acquire Crypto Intelligence Company CipherTrace by Year-End

Mastercard to Acquire Crypto Intelligence Company CipherTrace by Year-End

Payment processor Mastercard is further venturing deep into the crypto world by acquiring the blockchain and cryptocurrency analytics company CipherTrace, which helps banks, crypto exchanges to government regulators, and law enforcement gain insight into more than 900 cryptocurrencies.

Mastercard announced on Thursday that it had signed an agreement to acquire CipherTrace for an undisclosed sum.

The company says the acquisition is part of its “strategy in the digital assets space to help provide customers, merchants, and businesses with more choice in how they move digital value.”

The terms of the agreement are not disclosed yet, and the transaction is expected to be closed before the end of the year, pending certain conditions.

According to the payment giant, trust and security will ensure broad adoption and scale as digital assets and NFTs continue to become more and more intertwined with everyday activities.

Mastercard will be building an “integrated offering” on CipherTrace’s suite of digital assets.

This deal will see both the companies using their capabilities, technology, AI, and cyber to differentiate Mastercard’s card and real-time payments infrastructure so that others can build upon it their own virtual asset offerings while complying with regulations. Ajay Bhalla, president, Cyber & Intelligence at Mastercard, said,

“Digital assets have the potential to reimagine commerce, from everyday acts like paying and getting paid to transforming economies, making them more inclusive and efficient.”

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Author: AnTy

Blockstream Launches Lightning Node Service For Bitcoin Newbies

Blockchain technology company Blockstream Corp has rolled out a Bitcoin Lightning node service called Greenlight, per its blog post. This service enables users to easily set up a node on the Bitcoin Lightning Network while using the company’s cloud infrastructure.

Users Retain Full Control Of Funds

The Lightning Network is a “second-layer solution” built on top of the Bitcoin network.

It’s run by a network of nodes that process payments and transactions are made using QR codes on its Jade platform. It is designed to boost faster transactions with lower fees.

Greenlight would enable users to maintain complete control over their funds while setting up a Lightning node.

This is because the private keys for both on-chain and off-chain transactions will remain in the custody of the user. Users can instead interact with their nodes through a simple user interface overseen by Blockstream.

Greenlight is built on top of c-lightning, a standard-compliant implementation of the Lightning Network protocol optimized for performance and extendibility.

The blockchain firm aims to make the Greenlight service user-friendly to educate amateurs and potential Lightning users.

Christian Decker, the core tech engineer at Blockstream, said that the new Greenlight service is aimed at helping users get started with Bitcoin and the lightning network. Decker added in the blog post,

“Onboarding Lightning adds another layer of complexity because of the need to operate channels and liquidity as well as manage backups and watchtowers. New users often opt for custodial services where these technical challenges are managed for them but at the cost of trusting the service operator with their funds.”

Blockstream disclosed that the service is already available on Sphinx Chat, a browser for the Lightning Network, and Lastbit, a technology Lightning payment platform. The firm plans to release Greenlight for the greater public after the initial beta phase.

Founded in 2014, Blockstream is a firm that focuses on providing blockchain technologies and crypto-financial infrastructure based on Bitcoin.

Blockstream Increasing Mining Colocation Deals

Blockstream’s Mining arm has signed a couple of partnerships this year amid the calls for clean energy usage in Bitcoin mining.

Last month, Blockstream announced it inked a deal with Bitcoin and crypto lender BlockFi to host BlockFi’s new mining machines in a facility in Georgia, USA.

The mining facility, which supports up to 300 megawatts of capacity, was deployed to BlockFi thttps://bitcoinexchangeguide.com/cryptocurrency-news/wallets/blockfi/o expand its service offerings and accumulate more Bitcoin.

Blockstream also disclosed a partnership with Square last month to build an open-source, solar-powered Bitcoin mining facility. This was in line with Square’s Bitcoin Clean Energy Initiative.

The partnership also saw Square invest $5M into the facility with Blockstream to provide infrastructure and expertise to build and manage the project.

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Author: Jimmy Aki

Major US Bitcoin Mining Company Going Public at $4.3B Valuation via SPAC Backed by BlackRock

Major US Bitcoin Mining Company Going Public at $4.3B Valuation via SPAC Backed by BlackRock

100% net carbon neutral miner, Core Scientific, which mined 928 BTC in Q2 and over 3,000 BTC so far in 2021, is also planning to expand to more states.

Core Scientific Holding is going public through a merger with a blank-check company that puts its valuation at $4.3 billion.

Rival public cryptocurrency miners Marathon Digital and Riot Blockchain have market capitalizations of $2.25 billion and $2.18 billion respectively.

A major US cryptocurrency mining company, Core Scientific, is signing a deal with Power & Digital Infrastructure Acquisition Corp, which is backed by BlackRock Inc. This deal will fetch $300 million in cash proceeds, but they didn’t disclose a private investment in public equity (PIPE) round.

Core plans to funnel this fresh capital back into the company to fund growth.

Special purpose acquisition companies (SPACs) have become a popular way to go public where pools of capital are raised through initial public offerings to merge with a private company and take it public.

Power & Digital raised $345 million in an upsized IPO in February.

The company mined 928 BTC in Q2 and a total of over 3,000 BTC so far in 2021 compared to Marathon mining, a total of 846 BTC and Riot 1,167.

In 2020, it generated $60 million in revenue and forecast revenues of $493 million and $1.1 billion for fiscal 2021 and 2022, respectively.

Core is currently adding capacity at its existing sites, which operates about 80,000 rigs and will be extended to the past 300,000 miners by the end of 2022. The company is also looking to build more facilities in potentially one to two more states.

“We’re all sold out. Every bit of infrastructure we can build — and we’re the biggest — we have demand for,” co-chairman and CEO Mike Levitt said in an interview.

“We’re basically sold out of capacity through 2022, and we’re building more.”

Core Scientific, which has operations in North Dakota, North Carolina, Georgia, and Kentucky, said it was 100% net carbon neutral, with 56% of its electricity coming from sustainable sources, including solar, wind, hydro, and nuclear. It buys carbon credits to offset the rest.

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Author: AnTy

Rothschild Investment Increases its GBTC Holdings by 268% and ETHE by 5.2%

Financial services company Rothschild Investment has yet again increased its Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE) holdings.

In Q1 2021, Rothschild increased its GBTC exposure by 26% and in Q2, the multinational investment bank further raised it by 268.76% as it reported owning 141,405 shares of GBTC as of June 30, according to the filing with the US Securities and Exchange Commission (SEC).

Rothschild also increased its ETHE exposure which it first bought in Q1 of 2021.

The latest filing reported 279,119 shares of ETHE owned by the company, up from 265,302 shares in March, representing an increase of a mere 5.2%.

GBTC is currently heavily discounted trading at a negative premium of 13.44% while ETHE is trading at a 10.7% discount, as per Bybt.

Rothschild’s clients include wealthy families, high-net-worth individuals, local entrepreneurs, family holding companies, foundations/endowments, retirement accounts, and multi-generational trust accounts.

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Author: AnTy

Mike Novogratz’s Publicly Trading Company to Invest $100 Mln in Crypto Venture Funds

Mike Novogratz’s Publicly Trading Company to Invest $100 Mln in Crypto Venture Funds

Billionaire Mike Novogratz, CEO of New York-based Galaxy Digital, has announced that he will be investing $100 million in crypto-related venture funds over the course of the next two years.

Cryptology Asset Group, a Malta-based investment company co-founded by Novogratz, has 450 million euros ($548 million) in assets. Through its latest investment, the firm intends to focus on first-time funds and emerging managers with stakes in crypto assets or crypto-related companies.

A publicly traded holding company for blockchain-related assets in Europe, Cryptology already has Block.one, Northern Data, and Iconic Funds in its portfolio. Co-founder Christian Angermayer said in the release,

“We are at the very beginning of the crypto revolution, and we strive to become one of the leading global investors in this very nascent asset class.”

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Author: AnTy

Paxful Rolls Out Bitcoin Payments Feature for Online Businesses

Paxful Rolls Out Bitcoin Payments Feature for Online Businesses

Popular peer-to-peer (P2P) blockchain company Paxful has launched a new product, dubbed Paxful Pay, that would allow online businesses to receive Bitcoin payments, per its press release.

Merchants Can Hold Bitcoin

Paxful Pay would make it possible for customers to pay online merchants using several payment methods. Once the payment is received, Paxful would convert it into Bitcoin and send it to the merchant’s wallet.

Paxful is not stopping with Bitcoin. According to the roadmap, popular stablecoin Tether’s USDT would also be supported in the coming weeks. The service is mostly targeted at Paxful customers, which means they will find it easy to integrate other Paxful services such as the wallet and the marketplace. New users will have to sign up for a Paxful account, which will probably distort the e-commerce flow.

Artur Schaback, COO and co-founder of Paxful, spoke on why the product was needed for online purchases. He said:

“We’re thrilled to bring Paxful Pay to our global community. There is a clear need to offer local options for bitcoin and this product is a culmination of our efforts to deliver on that demand. By offering users the ability to complete purchases using almost 400 payment methods, they will now have an even stronger financial solution at their fingertips. We cannot wait to expand this offering to encompass as many merchants as possible.”

Paxful said Paxful Pay has onboarded over 100 merchants and is looking at adding more before the year runs out. The company continues to roll out a suite of innovative crypto products to aid adoption. Paxful previously launched a crypto debit card in November last year. The card enables users to convert Bitcoin into fiat currency at the time of purchase.

Paxful’s Focus On The African Market

Although Paxful has users in the US and Asia, it has a major focus on the African market. This might be attributed to the mass P2P businesses that exist in Africa.

According to the New York-based firm, Nigeria is its biggest market and the largest P2P market in sub-Saharan Africa. Kenya and South Africa also have large P2P businesses.

Last year, the company revealed it was actively looking to join forces with African-born crypto players to grow its market share on the continent.

Founded in 2015 with headquarters in New York, Paxful has over six million users and over $5 billion traded on its platform since inception.

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Author: Jimmy Aki

NYSE-Listing Chinese Company BTCM Goes Overseas; Builds A Crypto Mining Center in Kazakhstan

NYSE-Listing Chinese Company BTCM Goes Overseas; Builds A Crypto Mining Center in Kazakhstan

BIT Mining is making an investment of RMB60 million (US$9.33 million) in a crypto mining data center in Kazakhstan, which is expected to have a power capacity of 100MW.

It has already started.

Over the past week, China banning Bitcoin trading and mining rattled the industry as it sent the prices crashing. But as we reported, the market also recognized that it is a massive opportunity to not only move outside China, putting an end to China controlling the Bitcoin narrative but also at the same time moving towards renewable sources.

It looks like things are already making a shift as Chinese miners look overseas following the latest crackdown.

BIT Mining Limited (BTCM), a Chinese company listed on NYSE, announced on Monday that it is making an investment of RMB60 million (US$9.33 million) in a cryptocurrency mining data center in Kazakhstan.

According to CBECI, in April 2020, China accounted for 65.08% of Bitcoin mining hash power, followed by the USA at 7.24%. Kazakhstan is in 4th place with a 6.17% share after Russia‘s 6.90% share.

BIT Mining will be jointly investing in a cryptocurrency mining data center in Kazakhstan in association with a Kazakhstan-based company. Once constructed, the total power capacity of the Kazakhstan Mining Data Center is expected to be 100MW.

The Company will hold an 80% equity interest in the Kazakhstan Mining Data Center, with the local partner holding 20%.

BIT Mining also entered into a two-service agreement with another Kazakhstan-based company to provide them with a comprehensive data center service package in the country.

With the service agreements entered into today, BIT Mining expects its total power capacity devoted to cryptocurrency mining in Kazakhstan to reach as high as 60MW eventually. Starting from July 1, 2021, the company will have access to a total power capacity of 20MW under the agreement.

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Author: AnTy

Diginex’s Crypto Custodial Arm Digivault Bags Approval From UK FCA

Digivault, the custodial arm of Singapore-based digital assets company Diginex, has been granted approval to register as a cryptocurrency custodian wallet provider from the UK Financial Conduct Authority (FCA).

Digivault Approved By The FCA

The firm announced in a statement released today that the regulatory approval is in line with the Money Laundering, Terrorist Financing, and Transfer of Funds (Information of the Payer) Regulations.

With this FCA approval, Digivault hopes to further provide compliant and secure custody services to corporate and institutional investors in crypto assets.

Speaking about what this feat means for Digivault and in turn, Diginex, the CEO of Diginex Limited, Richard Byworth, said the FCA approval is continued validation of its strategy to deliver fair, transparent, and compliant crypto products for institutions. He added that,

“Digivault’s market-leading custody solution is a foundational pillar of the Diginex ecosystem and acts as a key enabler to the EQUOS Exchange, OTC, and Lending business lines.”

According to the firm, its custody solutions include having digital assets in cold storage third-party vaults owned by renowned vault services provider, Malca-Amit.

Digivault provides both cold and warm storage, incorporating a series of hardware and software firewalls so that assets are protected yet readily available.

Assets available for custodial services in the company include Bitcoin, Ethereum, and USDC, and other assets hosted on ERC-20 and ERC-1400 protocols.

Commenting on the approval Rob Cooper, CEO of Digivault, said the backing of the FCA would help assure its clients that their assets are being secured within the highest possible standard of governance, control, and oversight.

Digivault’s regulatory approval from the UK financial watchdog follows its newly signed partnership with Torstone Technology, a post-trade securities, and derivatives processing provider.

The partnership is aimed at providing Digivault’s clients with post-trade services via Torstone’s settlement platform and at the same time enable Torstone’s customers to access digital asset custody solutions.

FCA’s Stance On Crypto Assets

The FCA has never been so keen on cryptocurrencies. For years, the regulator has made its concerns regarding digital assets known.

In October, the FCA declared that companies in the UK could no longer offer crypto derivatives products, including futures and exchange-traded notes.

Just recently, the FCA chief Nikhil Rathi advised young investors to avoid the crypto craze amid the soaring popularity of the likes of Bitcoin. He said that direct investment in crypto assets is a high risk, with few regulatory protections, which is why it is not advisable.

Meanwhile, Digivault happens to be the first stand-alone digital asset custodian approved by the FCA. Its parent company Diginex which went public in October 2020, was the first digital assets group with a crypto exchange to launch on Nasdaq in the US publicly.

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Author: Jimmy Aki