Day: July 29, 2020

NEM community is being incentivized with over $10,000 a month

boss

NEM recently launched its community platform called NEM HUB. They are using software built by DAO Maker a top crypto marketing agency in 2020 that worked with clients such as Elrond Network, LTO Network, or Orion Protocol. The NEM HUB is a place where community members can share what value do they brought to the NEM ecosystem and other stakeholders will validate their work. Depend on how they will perform across the month they will be rewarded with XEM tokens. NEM allocated a minimum of  $10,000 worth of XEM tokens…

Tesla (TSLA) Stock Price Lost 4%, Bernstein Downgrade, Up 1.5% Now

boss

Tesla (TSLA) stock price dropped yesterday by 4.10% to close the day at $1476.49. However, the stock is up today. The fall is attributed to a downgrade call by Bernstein analyst Toni Sacconaghi. One of the leading coronavirus stocks used to be the one from Tesla Inc (NASDAQ: TSLA), however, the price rally seems to be running short of fuel in the last few days. It cannot be exactly substantiated as to why the shares are retracing, but several fundamentals can be pinpointed. On Tuesday, TSLA shares were downgraded by…

Nexo Adds Tron (TRX) to Its Instant Crypto Credit Lines

boss

Nexo-Tron partnership introduces the first ever TRX-backed fiat credit line to accept TRON (TRX) as collateral. Nexo and TRON Foundation have come together to oversee further TRX adoption through DeFi utility. According to a joint press release, Nexo will list TRX as a collateral for its customers. As a result, it will create the first-ever TRX-backed fiat loans. As the global crypto market divulges into altcoins utility, the new TRX market will greatly enhance its utility and in turn improve its market liquidity. Antoni Trenchev, Neto’s Co-founder and Managing Partner,…

Cleaning Up Crypto Exchange Wash Trading Will Take Global Regulation

boss

When Bitwise Asset Management declared in a March 2019 presentation to the United States Securities and Exchange Commission that 95% of the Bitcoin (BTC) trading volume being reported globally on cryptocurrency exchanges was “fake,” it jolted rating firms, exchanges and the larger crypto world. Data analytics firms recalibrated their exchange ranking metrics, and some assumed it was just a matter of time before wash trading was curtailed if not eliminated. But wash trading was back in the news last week when the CEO, president and chief operating officer of Canadian…

Binance Launches Fiat-to-Crypto Trading Platform in Australia

boss

Representing the latest addition to the Binance growth outreach, Binance Australia will provide the entire features that are available on the main Binance platform. The Binance exchange is extending its grip one of the world’s market leader with the introduction of a fiat-to-crypto trading platform by its new entity in Australia. Binance said that the new trading platform will provide its Australian users with a fast, secure, and reliable platform to buy and trade digital currencies with the Australian Dollar (AUD). Through Binance Australia, users can make direct deposits from…

Justin Wales: Why Bitcoin Is Protected by the First Amendment

boss

Justin Wales is a lawyer and the co-chair of Carlton Fields’ national blockchain and virtual currency practice. He is an author of “State Regulations on Virtual Currency and Blockchain Technologies.” This article is adapted from the paper here. Regulators tend to view virtual currencies monolithically, treating cryptocurrencies like bitcoin no differently from centralized projects that share little in common with it. As a result, the federal government and many states define “virtual currencies” in such broad terms that anyone dealing in them is required to obtain a license and keep…

Dubai Economy Gets Powered by UAE KYC Blockchain Platform for Safe Digital Customer Onboarding

boss

The Dubai economy has gone live on the UAE KYC (Know-Your-Customer) blockchain platform making instant bank accounting functionality, secure digital customer onboarding, and sharing of verified data between financial institutions and licensing authorities possible. As reported by local outlet Khaleej Times on July 28, this initiative is powered by norbloc, a leading blockchain KYC technology firm.  Blockchain-based ecosystem Emirates NBD, a leading bank in the UAE, is the first banking group to be part of the project based on its active and operational bank accounts. Other banks like Commercial Bank…

Tencent Surpassed Facebook Valuation by Over $12 Billion

boss

With an increase of 43% in 2020, Tencent has added $197.74 billion to its market value on Tuesday, pushing its market cap higher than that of Facebook. Tencent Holdings Ltd (HKG: 0700) has become more valuable than Facebook Inc (NASDAQ: FB), shooting past the American social media giant. After a huge rally in Tencent, the company added about $200 billion to its value on Tuesday. Thereafter, Tencent, the world’s largest video game company, was ranked the seventh-largest globally. Founded in 1998, Tencent controls hundreds of subsidiaries and associates in different…

Next DeFi Boom to Come Out of “Useless” Cryptocurrencies: Messari

boss

As the decentralized finance sector explodes in value, a recent Messari report indicates that the so-called DeFi boom is likely to continue. Researcher Ryan Watkins wrote that a capital shift from “useless” cryptocurrency projects might help the DeFi tokens boom. Most of these dead projects are listed among the top-30 cryptocurrencies, stated Mr. Watkins. Some of the DeFi tokens that rallied by thousands of percent in 2020 may just extend their bull run further, according to Messari’s latest report on the decentralized finance sector. Researcher Ryan Watkins noted that the…

Calling for a Joint Effort: Standardizing Tokenized Carbon Emissions

boss

Climate change is one of the greatest problems facing society today. Therefore, it shouldn’t come as a surprise to see large corporations stepping in to mitigate their environmental impact. For example, Amazon plans to be carbon neutral by 2040; Starbuck has goals to become “resource positive” by reducing carbon emissions; and Microsoft has aims on getting to a carbon-negative status by 2030. Companies that vow to take responsibility for offsetting their own carbon emissions are part of voluntary carbon marketplaces. Unfortunately, a common set of standards doesn’t exist to ensure…