Monthly Archives: November 2020

Leading Brazilian soccer team to tokenize FIFA player transfer fees

Brazilian soccer club CR Vasco da Gama and crypto exchange Mercado Bitcoin are looking to tokenize early-career transfers in the soccer world. Vasco da Gama, one of the leading teams in Brazilian football, and Mercado Bitcoin, one of the largest cryptocurrency exchanges in Latin America, have announced plans to tokenize the rights of the solidarity mechanism of FIFA. The FIFA Solidarity Mechanism is a part of the FIFA Transfer Regulation, which acts as a selling right for a player and encourages clubs to develop young players. Through […]

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Brazilian gov’t gets help from US Justice Department to seize $24M in crypto

The government of Brazil requested assistance from US authorities regarding a crypto fraud scheme called “Operation Egypto.” According to a Wednesday filing, the U.S. Justice Department seized $24 million in virtual currency pursuant to an official request from the Brazilian government. The Department of Justice, or DoJ, said that the government of Brazil requested its assistance in connection to a crypto fraud scheme called “Operation Egypto.” Authorities in the South American nation reported that more than 10,000 Brazilians may have been defrauded from the scheme, in losses […]

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US Seizes Previously Undetected Silk Road Bitcoins Worth Over $1 Billion

The U.S. government has seized over $1 billion in bitcoin from previously undetected transactions associated with the Silk Road marketplace and is now seeking the forfeiture of the cryptocurrency. US Confiscates $1 Billion in Bitcoin From Silk Road The U.S. government has filed a lawsuit seeking the forfeiture of bitcoin currently worth over $1 billion that it seized on Tuesday, according to the court document. The Department of Justice said on Thursday that this bitcoin seizure is the largest the U.S. has ever made. The “Defendant Property” […]

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Not bad for 2020: Up 42% in Q4, Bitcoin price outperforms top bank stocks

2020 has been a rough year for markets but Bitcoin has outperformed JPMorgan, Goldman Sachs, and the majority of top U.S. financial sector stocks. Historically, traditional market analysts and old school investors tend to look at Bitcoin and other cryptocurrencies with a wary eye, and when crypto pundits attempt to make comparisons between the two these investors say it’s an apples to oranges argument. Take, for example, Warren Buffett, who many a time has said Bitcoin is nothing more than a Ponzi scheme as it does not […]

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CME Bitcoin futures spike during US presidential election

As ballots poured in on the night of the United States presidential election, traders piled in and out of positions on the CME. As votes came in on the night of Nov. 3, the day of the U.S. presidential election, Bitcoin’s (BTC) volume soared on the Chicago Mercantile Exchange, or CME.  “Overnight, before 9:00am NYT over 6,700 Bitcoin futures contracts traded (33,500 equivalent Bitcoin), 75% more than what has been observed YTD [year-to-date] and more than double the volume observed since launch,” a CME Group spokesperson told […]

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How Bitcoin Shakes The Energy Industry

On August 28, 2020, oil and gas giant Equinor announced that it would be cutting its future flared gas volumes and bringing waste-gas to market by generating electricity and mining on the Bitcoin network. Equinor’s plans involve partnering with Denver-based firm Crusoe Energy Systems – Digital Flaring Technology. Five months before Equinor’s announcement (on March 5, 2020), Greenidge Generation LLC,  a Dresden, New York-based natural gas power plant, announced that it could be making $50,000 per day with its excess energy if it were mining bitcoin. Greenidge […]

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Justice Department files antitrust lawsuit against Visa’s acquisition of Plaid

Monopolizing a market is legal in some instances, but not others. The United States Department of Justice is filing suit against Visa for its acquisition of Plaid, which the DoJ argues is an illegal play to achieve monopoly.  According a complaint filed by the DoJ on Wednesday:  “Visa seeks to buy Plaid — as its CEO said — as an ‘insurance policy’ to neutralize a ‘threat to our important US debit business.’ By acquiring Plaid, Visa would eliminate a nascent competitive threat that would likely result in substantial savings […]

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Blockchain in journalism: Winds of change carry media to new frontiers

Despite the potential to bring an unparalleled level of transparency to journalism, blockchain adoption by mainstream media may be slow. It is no secret that over the course of the last couple of decades, issues related to fake news, substandard fact-checking and rampant censorship have resulted in many mainstream media outlets losing the trust of their viewers and readers.  In this regard, the 2020 Edelman Trust Barometer — a digital tool that serves as an indicator of how people view the media industry in general — shows […]

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Outlining The Future Of Low Bandwidth Bitcoin

There is a need to strengthen the Bitcoin ecosystem for people whose only computing device is a smartphone and who live where mobile internet access is expensive, slow, unreliable or censored. Senegalese Bitcoin developer Fodé Diop has made the point that many parts of the world are “mobile only,” not just “mobile first.” Mobile wallet apps that allow users to retain control of their private keys for signing transactions, but do not act as full Bitcoin nodes, are usually referred to as “light” clients. Light clients make […]

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Bitcoin price rally to $15.3K obliterates bears $180M BTC options bet

This Friday’s unusual weekly $470 million Bitcoin options expiry seems bearish at first glance, but those bets have gone terribly wrong. On Nov. 4 the open interest on Bitcoin (BTC) options reached a new all-time high. As this occurred an even more curious case emerged. On Nov. 6, a total of $470 million in open interest is set to expire. This is rather unusual as usually monthly and quarterly concentrate the liquidity. At the moment, Deribit holds 75% of the open interest, followed by Bit.com with 13%. […]

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