CRYPTO WORLD NETWORK NEWS

Tesla allocates 7.7% of gross cash to Bitcoin

February 9, 2021February 15, 2021 CRYPTO WORLD

Breaking down Tesla’s Bitcoin purchase reveals the emergence of a new corporate whale. Tesla (TSLA) sent shockwaves across the financial markets Monday after a United States Securities and Exchange Commission filing confirmed that the electric vehicle maker has added Bitcoin (BTC) to its balance sheet. Tesla’s latest Form 10-K filing for the fiscal year ended Dec. 31, 2020 shows a $1.5 billion allocation to Bitcoin. As Bitwise researcher David Lawant points out, Tesla’s BItcoin exposure represents roughly 7.7% of its gross cash position. He derives those figures from Tesla’s cash…

Stellar Development Foundation invests $5M in blockchain payments firm Wyre

January 27, 2021 CRYPTO WORLD

The Stellar Development Foundation (SDF) has made its first investment in 2021, investing $5 million in cryptocurrency payments company Wyre. The Foundation believes the investment will provide a wide variety of payment application programming interfaces (APIs) to fintech applications on the Stellar blockchain network. Wyre is a natural fit In its press release announcing the investment, the Foundation described that bringing Wyre to the Stellar ecosystem will create key payment infrastructure for companies operating on the network. It will also enable relationships connecting international financial systems, the Foundation stated. Denelle…

Bitcoiners use mining rigs as heaters as temperatures drop

January 22, 2021January 20, 2021 CRYPTO WORLD

Bitcoiners mining cryptocurrency at home this winter have been staving off freezing temperatures by putting them to good use as heaters. According to the Wall Street Journal, crypto miners in France and the United States report their overall heating costs have dropped — even if the temperature in their homes often gets far above what they’d prefer. Thomas Smith, a photographer based in California, has been using mining rigs to heat his home since at least 2019. He’s also been exploring some novel uses, including employing the miners to warm…

Mitsubishi and Tokyo Tech create blockchain system for P2P energy trading

January 20, 2021 CRYPTO WORLD

Mitsubishi Electric has teamed up with researchers from the prestigious Japanese university, Tokyo Tech, to jointly design a blockchain-based trading system that can support more flexible, peer-to-peer energy trading. Announced on Jan. 18, the new system is intended to support the efficient use of surplus electricity that is generated from renewable energy sources. In particular, it is hoped that the trading system can ensure that at any given moment, there will be the maximum available amount of surplus electricity accessible on the market for consumers. Peer-to-peer energy trading set-ups allow…

Someone Wants to Pay $7,777 for Elon Musk’s Dogecoin Tweet

January 15, 2021 CRYPTO WORLD

Valuables is a service that lets you put up cryptocurrency to “own” tweets as NFTs. Elon’s “One word: Doge” is up for grabs. Tesla founder Elon Musk is no stranger to posting silly things on Twitter. He’s used the platform to mock public safety precautions connected with the pandemic, and to inadvertently(?) depress the value of his own company’s stock. He’s also tweeted from time to time about the niche cryptocurrency Dogecoin, which is based on the popular “doge” meme. His posts have significantly influenced the price of the coin.…

Mr Beast becomes a verified Brave browser publisher

January 10, 2021January 7, 2021 CRYPTO WORLD

Jimmy Donaldson, aka “Mr Beast,” a prominent YouTuber boasting 50.2 million subscribers and 8.5 billion total views, now owns a verified Brave browser account — potentially exposing some of his enormous audience to virtual currency. Donaldson is not new to crypto and is believed to have made a considerable amount of money via cryptocurrency investments. The star previously hosted videos discussing crypto before his channel exploded in popularity and he reportedly purchased a $100,000 car using his crypto profits. However, his account was later purged of all content relating to…

Canaan releases liquid-cooled A1066I Bitcoin miner

January 8, 2021January 7, 2021 CRYPTO WORLD

Canaan, one of the earliest manufacturers of Bitcoin (BTC) ASIC miners, has released the Avalon Immersion Cooling Miner A1066I, a device designed to be liquid-cooled. Unlike traditional air-cooled devices and common types of liquid cooling for enthusiast PCs, the A1066I’s electrical components are submerged in a special dielectric fluid that carries heat away directly from the boards. Dielectric fluids are specially engineered to insulate the components and avoid the corrosion damage and short-circuiting that would occur with standard water or other types of fluids. This is also different from liquid…

Dfinity quietly launched the ‘Internet Computer’ mainnet last month

January 7, 2021January 6, 2021 CRYPTO WORLD

After several years of research and development and numerous breakthroughs in cryptography and computer science, Dfinity launched the mainnet of its “Internet Computer” on Dec. 18. The Internet Computer promises to be the first blockchain computer running at web speed with unbounded capacity. It achieves this speed through something called Chain Key Technology, which splits calls to smart contracts into two types: update calls and query calls. Update calls are finalized in one to two seconds, based on the time it takes for new blocks to be produced. However, query…

The Ministry of Digital Transformation of Ukraine and the Stellar Development Foundation announce partnership to facilitate development of the virtual assets ecosystem

January 5, 2021 CRYPTO WORLD

On December 28, the Ministry of Digital Transformation of Ukraine and the Stellar Development Foundation (SDF) signed a Memorandum of Understanding and Cooperation, within which they will work on the development of a strategy for virtual assets in Ukraine. Under the Memorandum, the Ministry of Digital Transformation and SDF will work to develop a modern virtual asset market infrastructure and enhance Ukraine’s status as an innovative digital country in the financial market in Eastern Europe. “The Ministry of Digital Transformation is working on creating the legal environment for the development…

Synthetix co-founder’s siblings reveal blockchain game project

January 4, 2021 CRYPTO WORLD

A fledgling blockchain-based game project called Illuvium has already managed to attract support from major industry backers — a development owed in part to the fact that Illuvium co-founders Kieran and Aaron Warwick are the brothers of Kain Warwick, the co-founder of decentralized finance (DeFi) platform Synthetix. In an interview with Cointelegraph, Kieran Warwick clarified that development work has only been underway since September, and that the “two years” refers to the length of time Kain had been badgering Kieran to re-enter crypto full time. “I left to found a…

Bitcoin hits $24K

December 23, 2020December 21, 2020 CRYPTO WORLD

Bitcoin hits a fresh all-time high of $24,210 on Coinbase as volatility ensures the weekend bulls are not yet done. Bitcoin (BTC) set a new all-time high on Dec. 19 as markets continued to deliver surprises in weekend trading. Data from Cointelegraph Markets and Tradingview showed BTC/USD just eclipsing its record level set this week, reaching $24,210 on Coinbase before reversing. Volatility was high as the previous all-time high of $23,777 just gave way before resistance kicked in once again. According to exchange orderbook data, sellers are ready at $24,000,…

Two thirds of Estonian crypto businesses lose their licenses

December 21, 2020 CRYPTO WORLD

Estonia has withdrawn permits from one thousand crypto companies this year. One of the countries lauded as being among the most crypto friendly in the European Union revoked the licenses of more than 1,000 crypto firms in 2020. According to news outlet Postimees, Estonia’s Financial Intelligence Unit, or FIU, has revoked the licenses of roughly 70% of virtual currency companies operating in the country this year. Veiko Tali, the Deputy Secretary General of the Government Committee for the Prevention of Money Laundering and Terrorist Financing, said the remaining crypto firms…

Germany legalizes digitized securities

December 18, 2020December 21, 2020 CRYPTO WORLD

Europe’s largest economy is looking to pave the way for securities trading on the blockchain. The German word for securities is wertpapieren, or “papers of worth,” which may soon be as outdated as nocturnal traders saying they’re burning the midnight oil. Per a Reuters report from Wednesday, Merkel’s cabinet had passed a new law that will end the requirement to have a paper certificate for sale of a security, overtly looking to advance blockchain trading within the country. German Finance Minister Olaf Scholtz reportedly said, “The paper certificate may be…

Bitcoin price consolidates as traders contest the $18.2K to $19.5K range

December 3, 2020December 3, 2020 CRYPTO WORLD

After an impressive run to a new all-time high on Dec.1, Bitcoin (BTC) price appears to have entered a short consolidation phase as the price ranges between $18,200 and $19,500. The 1 and 4-hour charts show the price compressing into a pennant-like structure and break out from the pattern would likely see the price move to the $19,400 level where is a bit more resistance. A breakthrough the pennant would also suggest that the $19,000 level could now function as solid support and if bulls are able to flip the…

Russia’s Gazprombank debuts Bitcoin trading in Switzerland

November 27, 2020November 24, 2020 CRYPTO WORLD

The Switzerland-based branch of a major Russian bank has also joined OpenVASP. Gazprombank Switzerland, a subsidiary of one of the largest banks in Russia, has piloted its Bitcoin (BTC) transaction service following regulatory approval by Swiss regulators. According to a Nov. 19 announcement, Gazprombank will provide its new cryptocurrency solution in collaboration with its long-running partners like fintech firm Avaloq and crypto custody provider Metaco. Gazprombank Switzerland CEO Roman Abdulin said that the new service intends to make crypto transactions “as easy as transactions with traditional assets,” stating: “Digital assets…