Day: January 14, 2022

Brazilian mayor to reportedly invest 1% of city reserves in Bitcoin

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Eduardo Paes, mayor of Brazilian city Rio de Janeiro, wants to allocate 1% of the city’s treasury into Bitcoin (BTC), Cointelegraph Brazil reported. Paes reportedly announced plans for “Crypto Rio,” or turning the city into a cryptocurrency hub during Rio Innovation Week on Thursday, according to a report by local news agency O Globo. The mayor spoke about Rio’s cryptocurrency-related ambitions in a panel with Miami mayor and Bitcoin bull Francis Suarez, who started accepting his paychecks in BTC in November 2021. “We are going to launch Crypto Rio and…

University accepts Bitcoin donations to fund crypto-related activities

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Back in October 2021, The Campanile Foundation (TCF), an auxiliary of the San Diego State University (SDSU), accepted its first crypto donation. Now, the university announced that it is welcoming digital currency donations in Bitcoin (BTC) and Ether (ETH). TCF chief financial officer David Fuhriman said one percent of the total crypto holdings would be withdrawn quarterly to fund campus activities that aim to discover how the university could interact with crypto, such as working on a system that permits broader digital transactions within the university.  Meanwhile, the rest of…

Here is how one algorithmic indicator anticipated multiple phases of FXS’ protracted rally

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Frax Share (FXS) has been one of the few altcoins to pull off a dominant price performance amid the down market of late 2021 to early 2022. In the month between Dec. 14 and Jan. 14, FXS was up 128% against the U.S. dollar and 159% against Bitcoin (BTC). In addition to this impressive feat, FXS topped the charts of historically bullish trading conditions on multiple occasions throughout this period. What is behind the token’s recurring strong trading outlook? Governing a stablecoin ecosystem FXS is the utility token underpinning the…

Crypto Exchange FTX Establishes $2B Fund to Invest in Crypto Startups: Report

Crypto exchange FTX has set up a $2 billion fund to invest in crypto-industry startups, the Wall Street Journal reported, citing Amy Wu, who heads the fund. The FTX Ventures fund is one of the industry’s largest, the Journal said. Investments could be as low as $100,000 and as high as hundreds of millions of dollars. In October, FTX raised $420.7 million and was valued at $25 billion. Wu told the Journal she is particularly interested in crypto gaming companies, as well as insurance and security products. Source

WTF token launch drains 58 ETH

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Fees.wtf is a simple service that shows Ether (ETH) users their lifetime spending amount on Ethereum blockchain transactions by measuring gas. You plug in your wallet address on its website, and it tells you how much gas you spent.  The project released its WTF token in an airdrop Friday. Essentially, users were able to claim WTF tokens as well as a “Rekt” nonfungible token (NFT) for 0.01 ETH. The Rekt NFT grants lifetime access to the pro version of Fees.wtf. According to its Discord announcement, the initial launch planned to offer 100…

NYCB and Group of Banks Join to Launch USDF Stablecoin – Bitcoin News

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A group of U.S.-based banks is launching their own stablecoin, USDF. The stablecoin will be issued by the USDF Consortium, which will allow its members (financial and banking institutions) to issue USDF. The proposed stablecoin will be the first currency of its kind to be minted by FDIC-insured institutions and compliant with the recommendations on the use of stablecoins made by the president’s working group. USDF Consortium to Launch Stablecoin The USDF consortium, a membership-based group of banks, is launching the first bank-minted stablecoin, also called USDF. According…

Miners Going Public Amid Bitcoin Slump Face Tough Months Ahead

However, for investors to really pay up for a company, they will need to see more longer-term strategy from the companies, said Eric F. Risley, managing partner of crypto mergers and acquisitions firm Architect Partners. Risley added that crypto miners that can operate most efficiently are most likely to thrive amid crypto markets’ fluctuations. Source

North Korean Hackers Stole $400M in 2021, Mostly in Ether

North Korean hackers stole almost $400 million worth of digital assets from crypto platforms last year, mostly in the form of ether, according to a Chainalysis report published on Thursday. For the first time, ether accounted for most – 58% – of the stolen funds, according to the report. It was followed by altcoins and ERC-20 tokens, with bitcoin at just 20% of the total, Chainalysis said. The increased variety of tokens has led the hackers to step up their efforts to launder their spoils, the report said. The typical…