cryptocurrencies
Reelected Miami mayor to take 401k retirement savings partly in Bitcoin
The long-standing mayor of Miami Francis Suarez has now announced plans to take a part of his 401(k) payout in Bitcoin (BTC) just a month after he started receiving salary in BTC. Soon after becoming the first United States lawmaker to accept a part of his salary in Bitcoin, Suarez wants to dedicate a part of his retirement savings to Bitcoin based on “a personal choice,” he said in an interview with Real Vision: “I just think it is a good asset to be invested in. I think it’s one that’s obviously going to appreciate over time. It’s one that I believe in.” Suarez highlighted that Bitcoin’s success is tightly tied to the confidence in the system, which is inherently an “open-source, un-manipulatable system”. The mayor revealed that he has started receiving salary payments in Bitcoin t...
Fan token market cap surged over 60% since June: Data
The fan token market has been growing in value this year, surging around $157 million in terms of total market capitalization since June. According to data from major fan token website FanMarketCap, the market cap of all fan tokens is estimated to amount to slightly over $417 million at the time of writing. This is almost 60.4% up from the overall value of $260 million recorded in mid-June 2021, as Cointelegraph previously reported. The fan token market’s daily trading volume amounts to $270.2 million at publishing time. According to FanTokenStats, some of the most-valued fan tokens include Paris Saint-Germain (PSG) and Manchester City (CITY) issued by major fan token provider Socios and based on the Chiliz blockchain infrastructure. While PSG’s market capitalization is valued at jus...
Blockchain folk hero Nandy Martin hopes to build a better community for Haitians in Miami
Haiti, a Western Caribbean country torn by a tragic past, natural disasters, poor leadership and ineffective foreign aid, is not a country that comes to people’s minds when they think of blockchain adoption. For years, Haiti has been among the world’s poorest countries in terms of GDP per capita, as per data from the World Bank. But Haitian-Canadian entrepreneur Nandy Martin, colloquially known as Captain Haiti for wandering the streets of his community in his superhero attire and signature shield prop, has ambitious goals to change that. Operating from the sunny domains of his humble abode in Miami’s Little Haiti, Martin launched the Little Haiti Coin on the Cardano blockchain as an initiative to clean up his community, drive business crypto adoption and use it as a mean...
Analysts say Bitcoin’s open interest wipeout ‘will give way to further upside’
The weekend is upon us and fear remains the dominant short-term sentiment in the cryptocurrency market. Earlier today Bitcoin (BTC) price dropped to $47,250 and investors are biting their nails after data from the U.S. consumer price index (CPI) shows inflation reaching a forty-year high at 6.8%. Data from Cointelegraph Markets Pro and TradingView shows that a midday push by bulls to reclaim the $50,000 support level was handily defeated and sellers sent the price back below $48,000 which could possibly force another daily lower high for the top-ranked cryptocurrency. BTC/USDT 4-hour chart. Source: TradingView With the prospect of a major run up in price to end the year all but dashed, traders have shifted their attention to managing risk and identifying the best levels to buy dips. ...
Altcoin Roundup: 3 metrics that traders can use to effectively analyze DeFi tokens
Much to the chagrin of cryptocurrency proponents who call for the immediate mass adoption of blockchain technology, there are many “digital landmines” that exist in the crypto ecosystem such as rug pulls and protocol hacks that can give new users the experience of being lost at sea. There’s more to investing than just technical analysis and gut feelings. Over the past year, a handful of blockchain analysis platforms launched dashboards with metrics that help provide greater insight into the fundamentals supporting — or the lack thereof — a cryptocurrency project. Here are three key factors to take into consideration when evaluating whether an altcoin or decentralized finance (DeFi) project is a sound investment. Check the project’s community and developer activity One of the basic wa...
FLUX, SFP and Badger DAO surge even as Bitcoin price falls to $47K
The year-long mantra that the crypto market would see a blow-off top in December has proven to be a dud thus far and for the last week, most cryptocurrencies have been under sell pressure and Bitcoin (BTC) is encountering difficulty in trading above $47,000. That said, it’s not all bad news for cryptocurrency holders on Dec. 10 because several altcoins have managed to post double-digit gains due to new exchange listings and protocol upgrades. Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were Flux (FLUX), SafePal (SFP) and Badger DAO (BADGER). FLUX benefits from the “Binance bump” Flux is a GPU mineable proof-of-work p...
UK police seize $249.5 million worth of cryptocurrency
The British police on Tuesday said they have seized £180 million ($249.5 million) of an undisclosed cryptocurrency, as part of a money laundering investigation launched against organised crime groups that moved into cryptocurrencies in order to clean their money. The latest seizure happened in less than three weeks after the London police made a £114 million haul on June 24 as part of its money laundering investigation. By this, a cryptocurrency payload totalling £294 million ($408 million) has been reportedly seized so far under the money laundering investigation. “While cash still remains king in the criminal world, as digital platforms develop we’re increasingly seeing organised criminals using cryptocurrency to launder their dirty money,” Reuters quoted Graham McNulty, a metropolitan P...
Elon Musk says he is first SNL host with Asperger’s syndrome
Elon Musk kicked off his “Saturday Night Live” debut by declaring himself to be the first person with Asperger’s syndrome to host the US comedy sketch show. “Or at least, the first person to admit it,” he said. In his opening monologue, the eccentric tech entrepreneur behind Tesla and SpaceX offered an explanation for some of his past eyebrow-raising behavior. “Look, I know I say or post strange things but that’s just how my brain works. To anyone I’ve offended I just want to say, I reinvented electric cars and I’m sending people to Mars in a rocket ship,” he said. “Did you think I was also going to be a chill, normal dude?” Musk has previously drawn criticism for moves like publicly mocking the US Securities and Exchange Commission and calling a cave diver who rescued boys trapped in Thai...
Crypto ban: We acted in Nigerians’ best interest – CBN
The Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele, says the Bank’s decision to prohibit deposit money banks, non-banking institutions, and other financial institutions from facilitating trading and dealings in cryptocurrency is in the best interest of Nigerian depositors and the country’s financial system. Mr Emefiele made the declaration on Tuesday, February 23, 2021, while briefing a joint Senate Committee on Banking, Insurance and Other Financial Institutions; ICT and Cybercrime; and Capital Market, on its directive to institutions under its regulation. Describing the operations of cryptocurrencies as dangerous and opaque, the CBN Governor said the use of cryptocurrency contravened an existing law. He said given the fact that cryptocurrencies were issued by unregulated and...
Iran’s smog, blackouts made worse by power-sapping crypto mining
Outages have been compounded by cryptocurrency mining, which uses banks of high-powered computers. Cities across Iran have been cloaked in thick layers of toxic smog and darkened by blackouts, as the alleged use of low-quality fuel and power-sucking cryptocurrency mining deepen the country’s hardships. Tehran’s Hamshahri newspaper, the country’s most-read daily, ran the headline, “20 Days Living in Smoke,” on Wednesday over a photo of the capital covered in smog. Power plants have been forced to switch to burning low-grade fuel oils to generate electricity because high levels of domestic consumption have led to natural-gas shortages, the semi-official Iranian Students’ News Agency reported. Oil Minister Bijan Namdar Zanganeh denied earlier this week that any of Iran’s power stations are us...
Rollercoaster: Bitcoiners who missed rally feel relief and regret
Arianna O’Dell, a 30-year-old entrepreneur and songwriter based in New York City, had a tumultuous four-year journey in cryptocurrency before selling her investments in February. During her rollercoaster ride, bitcoin prices swung from less than $1,000 to nearly $20,000. O’Dell may not have made optimal decisions about when to buy or sell, and missed out on the recent rally – but said she does not regret that. Investing $2,705 worth of proceeds into her business was better than enduring the stress of daily fluctuations, even though the price has since doubled, she said. “Honestly, I’ve had more luck in Vegas than I’ve had with cryptocurrencies,” O’Dell said in an interview. She is part of a relatively new class of retail investors who joined the cryptocurrency market years ago, helping pro...
Will Crypto Enter The Mainstream In Africa?
Cryptocurrencies are garnering interest across the globe, and have been for the last decade, but it is in Africa in which many are starting to think that these new digital currencies will take off with vigour. The reason for this could well be that Africa finds itself in a rather unique monetary situation, along with an equally unique technological one. Mobile and crypto, the perfect combination Whereas in Europe and North America Internet connectivity took off mainly through fixed-line broadband, Africa has been at the forefront of truly mobile-first Internet infrastructure. While cities are indeed rolling out fixed-line broadband, the vast majority of Africans get online through their data connection solely on their mobile phone. This has lead to a situation where 5G is expected to...
