Day: March 12, 2020

Maker DAO Launches Bounty Program to Get a Foothold in Blockchain Gaming

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MakerDAO, the organization behind the Dai (DAI) stablecoin, is making a bid for Dai to serve as a “real parameter” of dollar-pegged value for video game economies. As blockchain and crypto gain increasing traction with the gaming industry, MakerDAO argues nonetheless that “soft currencies” for in-game economies “don’t always feel authentic.” In a March 11 blog post, the organization wrote: “Like flight miles or credit card points, a soft currency’s unit of account isn’t always relative to the value of an actual currency. With Dai, players know exactly how much…

This Token Surged 62% in March despite Crypto Market’s $36B Loss

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A dollar invested in Tachyon Protocol’s IPX token at the beginning of March has returned $1.62 by the 12th day of the month. The newborn cryptocurrency went live on HitBTC on February 25, 2020, the day the crypto market suffered about $12 billion worth of intraday loss. It naturally took a toll owing to the wider selling sentiment, eventually losing 12.56 percent of its value after hitting the February closing bell. IPX edges into positive territory even though its top peers decline | Source: CoinMarketCap.com Nevertheless, IPX rebounded as it…

This Token Surged 62% in March despite Crypto Market’s $36B Loss

boss

A dollar invested in Tachyon Protocol’s IPX token at the beginning of March has returned $1.62 by the 12th day of the month. The newborn cryptocurrency went live on HitBTC on February 25, 2020, the day the crypto market suffered about $12 billion worth of intraday loss. It naturally took a toll owing to the wider selling sentiment, eventually losing 12.56 percent of its value after hitting the February closing bell. IPX edges into positive territory even though its top peers decline | Source: CoinMarketCap.com Nevertheless, IPX rebounded as it…

Australian Tax Authorities Shed Light on Recent Crypto Investor Outreach

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This week, the Australian authorities launched a major campaign to prompt as many as 350,000 crypto investors to comply with their tax obligations. In an interview with Cointelegraph on March 12, a spokesperson for the Australia Tax Office (ATO) said the campaign was designed to help raise awareness and give taxpayers “the opportunity to fix any mistakes” they may have made in reporting their capital gains on crypto trades. Encouraging voluntary compliance As of 2019, Bitcoin (BTC) and other crypto assets have been defined as taxable forms of property under…

Libra Members Hedge Their Bets by Joining Rival Stablecoin Project

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Some of the biggest names in Facebook’s embattled Libra Association have joined a rival stablecoin project, which touts its mission as the promotion of financial inclusion using the blockchain. Dubbed the “Celo Alliance for Prosperity,” the project was unveiled on March 11, with key Libra backers Coinbase Ventures, Andreessen Horowitz, Anchorage Mercy Corps and Bison Trails Co. joining the ranks of its 50 founding members.  The combined reach of the Alliance members at launch is ostensibly estimated at 400 million people. Aside from veterans of the Libra Association, high-profile members…

Crypto Exchange Kraken Launches Forex Trading for Nine Currency Pairs

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United States-based cryptocurrency exchange Kraken is embracing traditional forex trading, going live with nine new fiat currency pairs as of today, March 12. From 14.30 UTC, users worldwide — notably excluding United States residents — will be able to use the Kraken platform to directly trade between euros, U.S. dollars, Canadian dollars, Japanese yen, pound sterling and Swiss francs.  The exact FX pairs are as follows: EUR/CAD, USD/CAD, USD/JPY, EUR/CHF, USD/CHF, EUR/USD, EUR/GBP, EUR/JPY, GBP/USD. Spearheading a new move for the industry? Kraken appears to be the first major crypto…

Bitcoin and Ether Market Update: March 12, 2020

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Total crypto market cap lost $15 billion from its value since Monday morning and now stands at $213.4 billion. Top ten coins are all in red for the last 24 hours with Tezos (XTZ) and ether (ETH) being the worst performers with 13.2 and 11.2 percent of losses respectively. At the time of writing Bitcoin (BTC) is trading at $7,513 on the Bitstamp daily chart, while Ether (ETH) moved down to $173 and Ripple’s XRP fell to $0.191. BTC/USD Bitcoin nosedived to $8,027 on Sunday, March 8 in its worst…

FarmVille Creator to Launch Blockchain Game Network

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The creator of the popular Facebook game FarmVille, Eric Schiermeye, has transitioned to the blockchain gaming industry. Blockchain Game Partners, for which Schiermeyer is the founder and CEO, has announced that it is developing a blockchain-based gaming platform dubbed the Gala Network.  The platform seeks to cater to the innovation of developers, and will afford players full ownership over blockchain-based in-game items represented as non-fungible tokens. The items will be usable across multiple games built on the Gala Network.  Fifteen developers are currently working to build Gala. Blockchain to revolutionize…

Hive Expands Ether Mining by 20%, Not Worried by Proof-of-Stake

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Cryptocurrency mining company Hive Blockchain Technologies announced a two-phase plan to expand its Ether (ETH) mining operations at the company’s flagship GPU-based facility in Sweden by more than 20%. In a press release, Hive describes the current moment as “an opportune time” to expand its ETH mining capacity. Hive’s Swedish facility is hydro-powered, and including hardware, the expansion will incur capital expenditures of just $200,000 per additional megawatt of processing power.  However, with contention rising within the Ethereum community concerning the upcoming ‘ETH 2.0’ revamp and anticipated transition to a…

Alleged Deer.io Black Market Kingpin Arrested by FBI

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Kirill Victorovich Firsov, the alleged owner of Russian-based anonymous marketplace Deer.io, was arrested on March 7 by Federal Bureau of Investigation (FBI) officials at John F. Kennedy Airport in New York. Court documents allege that Firsov is the mastermind behind Deer.io —  a site that offered darknet-style services in exchange for Bitcoin on the normal web. The FBI estimates it has facilitated more than $17 million worth of sales. Firsov will be arraigned in New York court later this week, where he is expected to face charges for trafficking stolen…