Bitcoin.com Removed from GoDaddy’s ‘Sale List’ But Roger Ver’s Is Willing to Sell for 22M BCH

Bitcoin.com Removed from GoDaddy’s ‘Sale List’ But Roger Ver’s Is Willing to Sell for 22M BCH

  • Bitcoin.com removed from GoDaddy sale listing.
  • A mysterious $100 million price.
  • Roger Ver blasts Bitcoin maximalists.

Bitcoin.com was “mistakenly” put up for sale on GoDaddy for a minimum price of $100 million, leading to massive speculation across the crypto social media circles. However, the site and Bitcoin Cash proponent owner, Roger Ver, took offense – asking the website administrator to pull down the listing. As of writing, the listing is no longer on GoDaddy, but the firm has offered no explanation or comment.

First brought to light by the CTO of Casa HODL, Jameson Loop, GoDaddy appeared to have listed the Bitcoin.com website on its listing with a minimum bid price of $100 million. However, Ver strongly refuted the claims as “100% fake news”, writing on Reddit,

“Seems strange that on the day that Bitcoin Cash is pumping a lot, Jameson Lopp and other BTC maximalists start spreading fake news that Bitcoin.com is for sale. If true, that would clearly damage BCH a lot. Maybe this is just one more dirty trick by the BTC maximalists.”

Further writing to the GoDaddy Twitter social media team, Ver demanded the site be removed from listing – as “it is damaging his real brand.”

However, some of the Twitter crypto community took fun at the issue, with Justin Sun joking that he wanted to bid it. In the past few weeks, Sun has been one of the top bidders of NFTs in the market – bidding almost $2 million for the “first tweet ever.”

Bitcoin giga-chad and MicroStrategy CEO Michael Saylor also favored purchasing the site after several influencers called on a partnership to reclaim the website from Bitcoin Cash.  While Ver said it is not for sale, he did tweet that he would take 22,000,000 BCH for the site. At current price of $648.88, that would be nearly $14,275,360,000

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Author: Lujan Odera

Judge Declines IRS Request for Customer Information from Kraken Exchange

Judge Declines IRS Request for Customer Information from Kraken Exchange

IRS requests for “John Doe Summons” from Kraken cryptocurrency exchange, but the judge declines the summons stating the request is “too broad.” Circle had received a similar request too.

The U.S. Internal Revenue Service (IRS) is looking to obtain customer records from San Francisco-based crypto exchange, Kraken, from 2016 to 2020, in a ‘request to obtain information’ filing. The filing requests Kraken to release information on all U.S. taxpayers who held at least $20,000 on the exchange at any point in the past five years.

The IRS successfully sent out a similar request, a so-called John Doe summons, to Circle on Thursday to release U.S. client information. The authority explains the information will help identify Americans who have failed to report their taxes correctly.

The John Doe summons has become common as regulators seek to pick out taxpayers who do not report crypto taxes. The IRS uses John Doe summons as a tool to conduct investigations on unregistered taxpayers to know their names or identify the taxpayer. However, a judge only accepts these summons when it is probable that a group of people has evaded tax and broken tax laws and such information is not accessible by any means.

However, Judge Spero declined the IRS request to a John Doe summon stating the regulator’s request is “overbroad,” asking them to refile the case with a narrower ask. In a statement, Judge Spero stated IRS “must specifically address why each category of information sought is narrowly tailored to the IRS’s investigative needs.” The IRS will need to review basic account information and transaction histories to get more invasive and all-encompassing information about the Kraken clients.

The narrowed version should be filed in the courts by April 14, the court order further reads.

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Author: Lujan Odera

NBA Top Shot Creator, Dapper Labs, Raises $305 Million from Top NBA Players and Celebrities

NBA Top Shot Creator, Dapper Labs, Raises $305 Million from Top NBA Players and Celebrities

Dapper Labs, the company behind the in-demand NBA Top Shot, a collectibles app, raises $305 million in a celebrity-stacked investor pool. Former and current NBA players such as Michael Jordan & Kevin Durant, actors Will Smith, rapper 2 Chainz, and a couple of venture capital firms joined the round.

In a report by USA Today, top NFT collectibles app, NBA Top Shot creator Dapper Labs, is raising $305 million in its latest round of financing. The funding round was led by Coatue Ventures featuring several high-profile celebrities and NBA players, including Michael Jordan, Kevin Durant, Andre Iguodala, Kyle Lowry, Spencer Dinwiddie, Andre Drummond, Alex Caruso, and Khris Middleton, among others.

Other high-profile investors in the round include Will Smith, Shawn Mendes and Andrew Gertler’s AG Ventures, Shay Mitchell, and 2 Chainz. Venture capital firms participating in the round include Andreessen Horowitz (az16), Version One, and Barstool’s investor, The Chermin Group.

Launched in July 2019, NBA Top Shot is an NBA-licensed product that lets users purchase digital packs of cards (or “moments”) that can be instantly bought and sold through a marketplace.

Dapper Labs created and manages the Flow Blockchain, an NFT marketplace that sells the NBA Top Shot collectibles. According to a person familiar with the matter, the new funding will be used to expand the NFT marketplace to other sports, including the Ultimate Fighting Championship (UFC) and the Major League Baseball (MLB) associations.

“We want to bring the same magic to other sports leagues as well as help other entertainment studios and independent creators find their own approaches in exploring open platforms,” Dapper Labs CEO Roham Gharegozlou.

Speaking to USA Today, a spokesperson from Dapper Labs confirmed the latest round of financing would set the company’s valuation at $2.6 billion.

If you are not familiar with the ongoing NFT mania: NFTs, short for non-fungible tokens, and are unique cryptographically secured collectibles such as digital art, pictures, music, video clips, GIF, etc. NFTs are stored on a blockchain, ensuring the uniqueness of these rare collectibles.

Over the past few weeks, NBA Top Shot has seen increased demands for its collectibles – reporting total gross revenue of $483 million from over 800,000 participants on the platform in March alone. The NBA Top Shot beta app also launched on the Samsung Galaxy Store back in October 2020.

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Author: Lujan Odera

Traditional Auction House Now Accepts Bitcoin and Ether on ‘Demand from Consumers’

Traditional Auction House Now Accepts Bitcoin and Ether on ‘Demand from Consumers’

Goldin Auctions partnered with crypto exchange Gemini to facilitate crypto payments.

Goldin Auctions, the trading card, and sports memorabilia auction house announced this week that it would now accept cryptocurrency. The traditional auction house hopped on the crypto bandwagon following the success of auction house Christie’s.

“We now accept Bitcoin as payment,” tweeted Goldin Auctions which is known for high-value items.

In a separate tweet, the auction house said, in addition to standard payment and payout methods, they allow the same in both BTC and Ether. This decision is made on “demand from consumers,” said Ross Hoffman, Goldin’s chief executive officer.

“Look, we think a big macro theme that we’re seeing is folks that are hedging,” he told Bloomberg. “One, against inflation, and two, there’s interest in alternative investing.”

Cryptocurrency and sports collectibles, according to him, have “a pretty large overlap.”

They have already accepted two payments in crypto a couple of weeks back, the most notable one for a Jay-Z card that was sold for $103,200.

“It’s pretty amazing how easy the tech is to integrate,” Hoffman says. “We had the idea [to accept crypto] two weeks ago, did the integration, and accepted our first payment in Bitcoin last week.”

This isn’t the first time Goldin has forayed into the blockchain industry. Earlier this year, the auction house partnered with YouTuber Logan Paul to auction a box of Pokemon cards.

Goldin also announced a partnership with crypto exchange Gemini on Tuesday following a $40 million investment in the auction house from The Chernin Group (TCG) and several prominent individuals and firms, including Dwyane Wade, Mark Cuban, Kevin Durant, Mark Wahlberg, and many more.

“We are excited to team up with Goldin Auctions and help them facilitate crypto payments for collectors and sellers on their platform,” said Tyler Winklevoss, CEO of Gemini.

Commenting on “some volatility” involved with crypto assets, Hoffman said, “whatever risk there is [will] be offset by the benefit of bringing in more members.”

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Author: AnTy

Cosmos (ATOM) Enhances Interoperability with IBC Protocol Rollout

Cosmos has finally launched its Inter-Blockchain Communication (IBC) protocol following a majority vote from the community members.

Cosmos IBC Now Lets Blockchains Talk To Each Other

The newly launched protocol would enable the transfers of tokens and data between sovereign blockchains.

More than 1500 Cosmos validators and delegates supported the launch.

The long-awaited IBC protocol would also address scalability issues through sharding technology, according to the development team.

Cosmos also said that this launch opens up a whole new world of possibilities for the decentralized finance (DeFi) space, as decentralized applications (DApps) built on its network would be able to execute multi-chain smart contracts.

According to Tendermint CEO Peng Zhong, the launching of the IBC marks a momentous milestone in the evolution of the Cosmos ecosystem as it builds the foundation for interoperability.

Cosmos has been working on its vision to realize an open blockchain protocol for some time now.

Although the IBC whitepaper was released back in 2016 by Cosmos co-founders Jae Kwon and Ethan Buchman, it was not until 2019 that a mainnet was launched.

In 2020, the ATOM’s native blockchain launched another incentivized testnet for IBC, dubbed Game of Zones, which stress-tested the IBC module pre-launch and distributed over 100,000 ATOMs in rewards to dozens of validators.

Stargate, the last phase of IBC, which completed the original roadmap laid out in the Cosmos whitepaper, was then launched in February 2021. Speaking on the impact IBC would have on the blockchain space, the lead developer of the IBC Protocol Christopher Goes, said,

“IBC will create an ecosystem of politically independent chains that can interact via trade and information exchange. Knitting together many different blockchains can form a new crypto-economic system”.

The Impact of IBC In DeFi Sector

IBC’s launch greatly expands the realm of possibilities for blockchain applications. IBC will be used to transfer both fungible (cross-chain payments) and non-fungible tokens (NFTs) between chains. This will see the subsequent rise of interchain token exchanges and NFT marketplaces.

The launch of IBC is a big deal, especially in the decentralized finance (DeFi) sector, as it could open up opportunities by allowing tokens to zip between chains. A product on an application-specific blockchain could use an asset from a completely different chain.

The initial version of IBC allows users to kick off token transfers between various chains only on the Cosmos Hub, the central blockchain that connects all other Cosmos blockchains or zones. Now for the first time, Cosmos has achieved actual cross-chain token transfers.

The blockchains built on Cosmos’ native consensus model like Kava (KAVA) and Crypto.com (CRO) will likely be the first crypto projects to adopt the IBC standard, putting an end to blockchain silos.

Even though Gavin Wood-led Polkadot (DOT) blockchain ecosystem is on the path to end network tribalism through its Bridges protocol, Cosmos seems to have beaten them to the finish line.

Meanwhile, Cosmos also announced its plans to add the Gravity DEX, a decentralized exchange, as the next upgrade following IIBC.

The Gravity DEX will act as an online marketplace for trading tokens from any connected blockchain, including tokens from IBC-enabled blockchains, wrapped ETH (wETH) to wrapped BTC (wBTC) tokens, and from any future networks that implement IBC.

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Author: Jimmy Aki

Crypto Deals in 2021 ‘Already on Track to Significantly Surpass’ $1.1B from Last Year: PwC Report

Crypto Deals in 2021 ‘Already on Track to Significantly Surpass’ $1.1 Billion from Last Year: PwC Report

The value of overall crypto fundraising increased by 33% in 2020 from the year prior, a greater percentage of it happening in Europe and Asia.

Mergers and acquisitions (M&A) in the cryptocurrency sector surged in 2020 and are expected to keep on climbing this year, according to a report by PwC.

The total value of this activity in crypto more than doubled last year to $1.1 billion from 2019, PwC said in a market overview released Monday. The average deal size has also risen from $19.2 million to $52.7 million.

Overall, the value of crypto fundraising has increased by 33% from the year prior. A greater percentage of this deal activity is taking place in Europe and Asia.

While crypto fundraising and M&A made a record last year, 2021 “is already on track to significantly surpass it from every single metric,” said Henri Arslanian, PwC global crypto leader.

According to him, cash-rich crypto platforms, large investors, and institutional players will drive activity.

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The latest report supports the case that the crypto market is expanding as the price of Bitcoin rises to a new all-time high of nearly $62,000 this month.

PwC also predicts that the cryptocurrency industry will become more institutionalized, citing the gains seen in the market and the buzz surrounding central bank digital currencies (CBDC), stablecoins, decentralized finance (DeFi), and non-fungible tokens (NFTs).

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Author: AnTy

Lolli Raises $5 Million From Reddit Founder’s VC Fund to Accelerate Bitcoin Adoption

Lolli Raises $5 Million From Reddit Founder’s VC Fund to Accelerate Bitcoin Adoption

Bitcoin rewards company Lolli has raised $5 million in the latest funding round led by Seven Seven Six, the venture capital fund headed by Alexis Ohanian, the founder of Reddit.

“This is an exciting time and opportunity to accelerate adoption and increase accessibility to bitcoin,” said Alex Adelman, CEO, and Co-founder of Lolli.

This funding will be used towards the development of the mobile app, facilitating a seamless shopping experience for a growing user base, and Lolli’s international expansion.

The company raised $3 million in its Seed Round led by PathFinder and investors like Ashton Kutcher and Guy Oseary’s Sound Ventures, beauty mogul Michelle Phan, Digital Currency Group, and Bain Capital.

Founded in 2018, Lolli offers up to 30% and an average of 7% Bitcoin-back rewards at over 100 retailers. To date, its users have earned more than $3 million in BTC rewards.

“Lolli first launched on Product Hunt in 2018 & won a Golden Kitty + earned #5 Product of the Day,” tweeted Product Hunt, a website to share and discover new products.

In its official announcement, Seren Williams, on behalf of the investment from Serena Ventures, called this a “step towards financial inclusivity for all people.” Ohanian, who was also an early investor in Coinbase said,

“Lolli is leading the way for bitcoin adoption. They have a unique chance to engage with an entirely new Bitcoin user base. As someone who has closely followed and participated in the industry, I see this as a crucial turning point to drive value and create opportunity for the mainstream.”

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Author: AnTy

Solana (SOL) is ‘Uniquely Positioned’ to Snatch Market Share from Ethereum & ETH Killers, says VC

Solana (SOL) is ‘Uniquely Positioned’ to Snatch Market Share from Ethereum & ETH Killers, says VC

With a market cap of $4.3 billion, SOL is the 24th largest crypto asset, trading around $16.12, up 20% in the past 24 hours and 800% YTD.

Over the weekend, Sino Global Capital, which invests in blockchain projects, shared their research on why they are bullish on Solana, a high-performance blockchain that was chosen by FTX founder and CEO Sam Bankman Fried to build the decentralized derivatives platform Serum (SRM).

“Solana fills a major performance gap in the world of blockchains while remaining decentralized and composable,” reads the thread by the firm based on the research done by Max Stein, who previously was at ConsenSys. It bets,

“Solana is a bet that one day we will need fully decentralized systems that can support thousands of high-value complex transactions per second and that the chain that can support that scalability and finality today will accrue significant value.”

According to the firm, the ultrafast, low latency, high-performance blockchain is “uniquely positioned to gain market share from existing smart contract blockchains.” Ethereum is the leader in the smart contract market, and other popular ones include Polkadot, BSC, Cardano, Avalanche, Kusama, VeChain, Algorand, and many others.

Scalability and low cost, which helps both users and developers, are its notable advantages which, as we have seen many times, the second-largest network really struggles with.

Composability is another one, and “Scalable composability is not possible with sharding/layer 2s,” it says. When it comes to Solana, it can process at scale right on a single layer 1, “with transaction finality that meets institutional requirements.”

And while Binance Smart Chain (BSC) is also fast and cheap, it is “significantly less decentralized than Solana.”

Sino Global further points to Solana’s strategic ecosystem advantage — native support both for USDT and USDC, Jump Trading to be market making on Serum, and more importantly, it is aligned with Sam Bankman-Fried and “his burgeoning influential community.”

Audius, with over 2.5 million users, initially launched its ERC-20 token on Ethereum is building its settlement layer on Solana. Another project is 9-year old Maps with a 140 million user base along with Oxygen, Serum, Radium, and Civic building on the blockchain.

While mentioning the network freeze in December and the resultant criticism and caution as risks and threats, Sino Global says it has been “built from the ground up to be a scalable blockchain” by a team that has been working together for more than 15 years, which will help Solana accrue significant value.

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Author: AnTy

Unlike Nvidia, AMD Won’t Block Crypto Miners From Using its Graphics Cards

Unlike Nvidia, AMD Won’t Block Crypto Miners From Using its Graphics Cards

While one is free to do what they want with the RDNA 2, it is best fit for gamers as “there are going to be limitations from an architectural level for mining itself.”

Advanced Micro Devices, Inc. (AMD), the semiconductor company, has confirmed that it is not blocking mining operations on its graphics cards, reported PCGamer. This confirmation came after Nvidia’s limited Ether mining on its GPUs.

“The short answer is no,” said Nish Neelalojanan, a product manager at AMD, during a Radeon RX 6700 XT pre-briefing call. “We will not be blocking any workload, not just mining for that matter.” He added,

“However, mining specifically enjoys, or scales with, higher bandwidth and bus width, so there are going to be limitations from an architectural level for mining itself.”

As we reported last month, Nvidia said it is limiting the Ethereum hash rate by 50% with its latest RTX 2060 software drivers because they are designed for gamers, and Nvidia is “gamers, through and through.”

When it comes to AMD, their RDNA 2 isn’t the best crypto miners; they are primarily designed for gaming, which means their “Infinity Cache and a smaller bus width were carefully chosen to hit a very specific gaming hit rate.”

“All our optimization, as always, is going to be gaming first, and we’ve optimized everything for gaming. Clearly gamers are going to reap a ton of benefit from this, and it’s not going to be ideal for mining workload. That all said, in this market, it’s always a fun thing to watch.”

However, both Nvidia and AMD are struggling to meet the global demand as with the rising prices of cryptocurrencies, the need for mining hardware has been rising exponentially.

Chip shortages are also affecting the industries relying on semiconductors, which is expected to continue throughout this year and even into next year.

Christopher Rolland, a financial analyst at Susquehanna, warns that we risk heading into “danger zone” territory for lead times in terms of chip orders, where wait times are now exceeding 14 weeks, not seen since 2018.

Samsung, the world’s biggest computer-chip manufacturer, has also warned of a “serious imbalance in supply and demand of chips.”

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Author: AnTy

Turkish Lira (TRY) Crashes 15% in a Single Day; Bitcoin (BTC) Starts A Green Week Above $58k

This big fall in Turkish Lira against USD to nearly record low from November has the country’s people curious and searching about Bitcoin.

The price of Bitcoin is on the rise today, going above $58,000 after a drop to just under $55,500 over the weekend.

While it has been a bad weekend for the Bitcoin longs, trader and economist Alex Kruger says, “we are up for a strong week.” From cryptocurrencies, stocks, bonds, to metals, everything will be up while the dollar makes its way down.

His reason for a risk-on week is the stimulus checks that Americans have been receiving since last week. Also, because bonds rallied on Friday’s major negative news, the Federal Reserve declined to extend its Covid-19 capital break-in, which is “very positive for tech, which dominates risk sentiment.”

The Fed said it would allow a change to the supplementary leverage ratio (SLR) to expire March 31, when announced in April 2020; this allowed banks to exclude Treasury and deposits with Fed banks from the calculation of the leverage ratio.

According to some, it could be a signal that the central bank won’t buy $120 billion of bonds a month indefinitely.

However, Kruger said, the concerns in the form of portfolio rebalancing outflows for equities, crypto regulatory FUD re-emerging, and that the crypto curve steepens too fast can hurt the bulls.

Aggressive Moves

The gains to mark the start of the week are coming as the US dollar eases down after surging past 92 level, aiming for an early March level of 92.5, which was seen in late November before that, on Sunday. The greenback rallied on the back of higher Treasury yields following the Fed’s pushback against speculation over interest rate spikes but is having a slight red start of the week.

The US economy is heading for its strongest growth in about 40 years, with inflation expected to jump to 2.4% this year, above the central bank’s 2% target as policymakers pledge to keep on supplying aid, said Fed Chairman Jerome Powell.

According to BofA, US 10-year Treasury yields could rise to 2.15% by year-end, having revised its target citing “much more aggressive” US fiscal stimulus impulse and rapid vaccinations in the US.

Amidst all this, the Turkish Lira (TRY) crashed 15% on Monday, approaching its record low from November, and dollar bonds sold off following President Tayyip Erdogan’s decision to oust a central bank governor.

Turkish stock index also slipped 9% to a three-month low after the appointment of Sahap Kavcioglu, a former banker and ruling party lawmaker, which sparked fears of a reversal of recent rate hikes. Ulrich Leuchtmann, head of FX at Commerzbank said,

“It may well be that interest rate hikes are once again permitted by Erdogan in a phase of crisis-like lira depreciation, but the recent developments should have shown currency traders that even then a sustainable monetary policy regime change is not to be expected.”

“The calming effect of interest rate hikes has probably been largely destroyed.”

The South African rand has also slipped ahead of the central bank meeting, where the South Africa Reserve Bank is expected to keep the rates unchanged. Alex Gladstein, Chief Strategy Officer at the Human Rights Foundation noted,

“A nation of 82 million sees its currency crash 15% in a single day. No coincidence that Turkey has some of the highest per-capita Bitcoin usage in the world. A growing number of Turks are peacefully choosing a different monetary system that their oppressors can’t control.”

Interestingly, the fall in Turkey’s fiat currency coincides with a surge in Google searches for the term “Bitcoin.” Ever since October, it has been on an uptrend and took a big jump today before normalizing.

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Author: AnTy