Crypto Guides, Knowledge & Insights

Why You Should Pay Attention To Mythical Beings In The NFT Space

Non-fungible tokens are a booming industry, as numerous projects continue to gain traction quickly. Mythical Beings, a mythology-oriented NFT collection, is one of the projects that seem to fly under most peoples radars. It is a bit surprising, considering how the card packs are very accessible and affordable, and its overall volume is seemingly on the rise.　　Why Mythical Beings Became Successful　　Even though there are many NFT projects on the market today, several of them tend to be successful along with others. That success can be quantified differently, although most people will not look past the overall sales volume. It is crucial to note that sales volume comes in two forms: primary sales from the Mythical Beings smart contract and trades from the secondary market. Any NFT project with an active secondary market usually has a good chance of succeeding.　　As Mythical Beings revolves around mythological creatures which suddenly appeared worldwide as of June 1, 2021, there is a growing interest in this project. The NFT collection consists of dozens of creatures belonging to cultures from the five continents. Creatures to collect include the yeti or Arab Ifrit, which have a special meaning to the people who grew up with these tales

2021-08-09Deep Dive

Cardano (ADA) sees Japan listing after passing strict crypto regulatory checks

Cardano (ADA) just became one of the rare tokens that succeeded to receive approval to be listed on crypto exchanges in Japan.　　 Big boost to Cardanos legitimacy　　According to Sebastien Guillemot, CTO of dcSpark, a blockchain company that builds software products on Cardano, Japan has draconian rules for listings on crypto exchanges and the importance of acquiring regulatory approval cannot be overstated.　　“Japan has extremely strict rules for crypto exchange listings. Only a small number of tokens can be listed in Japan, and ADA is now on that list,” said dcSpark CTO, whose crypto startup is currently working on a decentralized application browser for Cardano dubbed “Flint” and “Milkomeda,” which will simplify the use of smart contracts.　　“Although you werent tracking this one, I would say this is comparable to Coinbase listing news for the JP community,” Guillemot added, pointing to the significance of the news.　　Guillemot compared the approval in Japan to ADA‘s listing on Coinbase back in March, since it, besides bolstering Cardano’s legitimacy, also opens up an entirely new market for ADA, the fifth-largest cryptocurrency by market cap.　　As the network successfully progresses through a major upgrade　　With the completion of its pivotal update phase, called Alonzo, which is focused on introducing the

2021-08-09Deep Dive

Brazil Launches Its First Eco-Friendly Bitcoin ETF (BITH11)

Brazil continues to make progress in creating new investment opportunities related to cryptocurrencies. This week, it launched a brand new Bitcoin ETF —with a green twist.　　Under ticker BITH11, the Hashdex Nasdaq Bitcoin Reference Price replicates the performance of the Nasdaq Bitcoin Reference Price Index.　　This would, in turn, be the second ETF available in Brazil offering 100% exposure to Bitcoin, competing against the QR CME CF Bitcoin Reference Rate or QBTC11 that was also recently approved.　　Brazil Has a New Eco-Friendly Bitcoin ETF　　But Hashdexs proposal differs from its QR Assets-managed competitor. It seeks to neutralize carbon emissions from Bitcoin investments.　　The so-called First Green Bitcoin ETF in Brazil will use audits by Germanys Crypto Carbon Ratings Institute (CCRI) to determine the environmental impact of BITH11 investments, allowing it to invest 0.15% of its liquid assets in carbon credits and eco-friendly technologies every year.　　Rogerio Santana, director of the B3 (Brazil‘s main stock exchange), highlighted the importance of this initiative, noting that in addition to complying with the country’s legal regulations, BITH11 promotes a positive impact not only on the industry but also on the entire ecosystem. He was also proud to have one of the most extensive cryptocurrency investment offerings in the whole region.　　“The

2021-08-09Deep Dive

SEC Charges DeFi Lender and its Executives for Raising $30 Million Trough Unregistered Sales

The SEC has filed a lawsuit against a Decentralized Finance (DeFi) lender and two of its executives for raising $30 million through unregistered sales.　　The Securities and Exchange Commission has targeted the Cayman Island-based Blockchain Credit Partners (BCP), along with Gregory Keough and Derek Acree, for selling unregistered securities from February 2020 to February 2021.　　$30 Million Trough Token Sales　　According to a recent press release, the executives allegedly used smart contracts to sell two types of tokens that the SEC considered securities. More precisely, those were mTokens, which could be bought with “specific digital assets” that paid out 6.25% interest to investors.　　The statement indicated that BCP used “investor assets to buy real-world assets, like car loans,” generating sufficient income to pay out the promised interest and surplus profits. The second token is DMG, governance coins that give users rights to vote and to profit from DMG resales.　　“Full and honest disclosure remains the cornerstone of our securities laws – no matter what technologies are used to offer and sell those securities. This allows investors to make informed decisions and prevents issuers from misleading the public about business operations.” – reads the press release.　　First Of Its Kind　　This lawsuit marks the first time that the

2021-08-09Deep Dive

WEEKLY ANALYSIS ON CRYPTO CURRENCIES

Breaking: New German Law allowing institutions to invest in Crypto-currencies takes effect this week: Upto 300billion funds to be added to Crypto market in the coming months.　　Last week has been greeted with a strong positive news for Crypto currency among German investors and institutional funds as some new laws governing German Spezialfonds comes into effect. According to this new German law, some German investment funds and other institutions will henceforth be able to hold up to 20% of their portfolios in digital assets as Crypto. This positive news for Crypto investment has been received with utmost joy amid growing demand from various institutions towards the Crypto industry.　　With this new law, German investment funds with fixed rules – will be able to allocate as much as 20% of their holdings in digital assets. This means we can see upto $300 billion worth of investments flowing into Crypto currency in the coming months with the German law set out to back them and protect investors fund.　　According to the report from Bloomberg, “this new law alters fixed investment rules governing Spezialfonds, also known as special funds, which are only accessible to institutional investors such as pension funds and insurers.” Spezialfonds currently manage about

2021-08-09Deep Dive

Will Jack Dorsey Be America's First Bitcoin President?

Amid a legislative cryptocurrency battle in Washington, calls for electing Americas first Bitcoin president have emerged.　　Cryptocurrency advocate Anthony Pompliano ignited a discussion about potential candidates who could fit the role.　　When a user tweeted that Twitter CEO Jack Dorsey was “slowly and steadily” moving toward running for office, the tech billionaire replied that Bitcoin doesnt actually need presidents.　　Pompliano himself denied any plans to seek any pollical position after several followers perceived his tweet as a campaign pitch.　　The White House endorsing an unfavorable amendment to the crypto tax provision in the blockbuster infrastructure bill made many accuse the Joe Biden administration of cracking down on crypto. There is now a bipartisan effort to save crypto in Washington.　　As reported by U.Today, former U.S. President Donald Trump described Bitcoin as “a scam.”　　Ex-Democratic presidential hopeful Andrew Yang was the closest that the industry had to a mainstream Bitcoin candidate.　　Prominent cryptocurrency entrepreneur Brock Pierce also made an appearance on the ballot during the 2020 election as an independent candidate, but he didnt even manage to scrape 50,000 votes.

2021-08-09Deep Dive

"Don't Kill Crypto" Campaign Goes Viral: U.S. Citizens Oppose Draconian Infrastructure Bill

The Fight for the Future community created a dashboard that allows crypto supporters to reach every senator in a couple of clicks. This is how Americans can save crypto.　　Call and tweet your senator　　As the debate around the IRS proposal to tax all participants of crypto markets as “brokers” gains steam, Fight For the Future invites all Americans to ask their representatives in the Senate to support the Wyden-Toomey-Lummis amendment to the cryptocurrency provision of the infrastructure bill (H.R. 3684).　　So far, this is the most “forgiving” amendment designed to exclude miners of proof of work (PoW) blockchains and stakers of proof of stake (PoS) consensuses from new taxation and accounting requirements.　　Via the “Red Alert” dashboard by FFTF, everyone can call the senators from his/her state in a click and ask them to vote “yes” on the aforementioned amendment and “no” on the more conservative one (the Warner-Portman-Sinema amendment).　　The proposed text of the letter stresses the potentially dangerous effects of the adoption of severe regulations:　　“This amendment will ensure that the provision does not dramatically expand financial surveillance, harm innovation, or undermine human rights.”　　Whats wrong with the most controversial bill in all of crypto regulation history　　Also, Twitter users can tag their senators to

2021-08-09Deep Dive

Infrastructure Bill and Crypto: Elon Musk Condemns ‘Disastrous’ New Amendment

The highly respected and opinionated CEO of Tesla and SpaceX, Elon Musk, has joined in speaking against the last-minute amendment made by Senators Rob Portman and Mark Warner to the recent crypto taxation provision suggested by Senators Patrick Toomey, Ron Wyden, and Cynthia Lummis.　　Musk, despite being an open critic of Bitcoin to the consternation of members of the community, considers the proposed amendment harmful to the industry and is not a supporter of it.　　Responding to Coinbase CEO Brian Armstrongs thread on the matter, Musk has stated that the amendment was essentially picking winners in the crypto-industry and was not called for as the industry was not experiencing a crisis to warrant the legislative move.　　“Agreed, this is not the time to pick technology winners or losers in cryptocurrency technology. There is no crisis that compels hasty legislation” Musk said in response to Armstrongs take that called out the Senate for among other things picking which “technologies are OK and which are not in crypto.”　　“There are a few key moments that define our future. One is happening now in the Senate with the infrastructure bill. At the 11th hour, Mark Warner has proposed an amendment that would decide which foundational technologies are

2021-08-09Deep Dive

Token of Paris Saint-Germain F.C. Surges Amid Messi Transfer Talks

The price of Paris Saint-Germain Fan Token has gone haywire amid media reports about the Lionel Messi transfer, even outperforming meme cryptocurrency Dogecoin.　　According to data provided by CoinMarketCap, the PSG cryptocurrency is up more than 74 percent over the past four days.　　Most of its trading volume comes from Binance and Turkish crypto exchange Paribu.　　The utility token, which was launched by the club in partnership with Socios.com in early 2020, makes it possible for fans to have their say in the clubs decision-making process by voting in a number of polls.　　Juventus and A.C. Milan have also launched similar fan tokens.　　Messi confirms that PSG is a “possibility”　　Earlier this week, Barcelona sent shockwaves throughout the football community after announcing that it would be parting ways with Messi.　　President Joan Laporta revealed that the Spanish club couldnt afford a new deal with the Argentine superstar due to financial obstacles during a press conference that was held on Friday. His previous contract expired on June 30.　　Paris Saint-Germain, whose president Nasser Al-Khelaifi attempted to poach Messi from Barcelona last summer, quickly emerged as the top contender for signing the 34-year-old footballer.　　On Aug. 7, French outlet LEquipe that PSG was willing to offer one of the greatest football

2021-08-09Deep Dive

Bitcoin can't be viewed as an untraceable 'crime coin' anymore

Cryptocurrency is a new technology that has entered the common discourse, setting the stage for a complete upheaval of our long-established financial systems. Of course, some skepticism is unavoidable.　　Cryptos association with criminality adds to this shared sense of skepticism. There is no denying that cryptocurrency has and continues to be used for illicit activities across the globe. Having said this, with the use and applicability of crypto becoming increasingly commonplace, the narrative that its creation has facilitated mass criminality needs to be addressed.　　First impressions count　　Bitcoin (BTC) was introduced as a bartering tool on Silk Road, a notorious online black market. Criminals-for-hire being among Bitcoin‘s first users inflicted reputational damage. Coupled with the mysterious origins of Bitcoin, being that nobody actually knows where it came from or who invented it, public preconceptions of this new form of money were understandably unfavorable. Fast forward to 2021, and El Salvador’s citizens are encouraged to use Bitcoin specifically to buy groceries and pay utilities.　　For the majority of onlookers, crypto moved abruptly from its deep ties with the darkest parts of the internet to creating a brighter future for citizens of developing countries. This was the result of a vast amount of experimentation, blossoming use

2021-08-09Deep Dive