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Paraguay may be close to making bitcoin a legal tender as well

Paraguay may soon follow the footsteps of El Salvador in making bitcoin, the largest cryptocurrency by market capitalization, a legal tender on its territories. Congressman Carlitos Rejala, through a Twitter announcement, said the country is setting an important project in motion this week that points towards legitimizing the digital currency’s “legal tender” status. Moreover, the […]

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Paraguay may soon follow the footsteps of El Salvador in making bitcoin, the largest cryptocurrency by market capitalization, a legal tender on its territories.

Congressman Carlitos Rejala, through a Twitter announcement, said the country is setting an important project in motion this week that points towards legitimizing the digital currency’s “legal tender” status. Moreover, the official updated his profile picture on the social media platform and added the “laser eyes.”

The news came only a day after El Salvador, through its President’s 2021 Bitcoin Conference statement, said his country will soon make the crypto an accepted medium of exchange.

Keeping up with the new generation

“As I said a long time ago, our country needs to go hand in hand with the new generation. The moment has come, our moment. We start this week with a valuable project that will renew Paraguay in front of the world,” the Congressman said.

At the end of his Twitter post, Rejala added the hashtags #btc & #paypal, giving clues on what was his post all about.

The idea of adopting bitcoin to the mainstream financial sphere is currently on a roll as politicians in Latin America have started declaring their region is finally ready to open its doors for cryptocurrencies.

Bitcoin as solution

As it turns out, the “legal tender stage” of crypto adoption has finally arrived as countries have begun to put plans in motion to add bitcoin to their state treasury.

El Salvador and Paraguay have come to realize that the crypto is a viable option for protecting their economy from inflation and the domino effect that was brought about by the depleting value of the U.S. dollar.

Meanwhile, bitcoin seems to continue ignoring these developments, as according to CoinGecko tracking, it is changing hands at just $32,918 and is down almost 12% for the past seven days.

Image courtesy of Cointelegraph News/YouTube

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://bitcoinerx.com/blockchain/paraguay-may-be-close-to-making-bitcoin-a-legal-tender-as-well/

Blockchain

Here’s Why Despite the Recent Bitcoin Crash, All Hope Isn’t Lost

The recent crash should be seen as a temporary price correction, which is an inevitable aspect of every asset class.

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With the recent crash where cryptocurrency lost a quarter of its value since mid-April, many industry stalwarts and key stakeholders were quick to suggest that this might be the end of bitcoin.

In fact, to some, it may seem almost blasphemous for anyone saying otherwise.

However, industry experts believe that bitcoin is far from over despite the somewhat negative outlook and is here to stay.

For example, did you know that one of Bitcoin’s most prominent corporate backers, MicroStrategy expects a $285 million loss after the recent crypto crash but wants to raise $400 million in debt to buy more?

To understand why corporations and other stakeholders still believe in bitcoin’s bright future, it is crucial to closely understand and observe market trends.

The price crash came amid a record-breaking run for bitcoin, rising from below $5,000 in March 2020 to an all-time high of $64,486 per unit on 14th April – jumping more than 450% in just six months.

However, It is important to note that we live in the era of a pandemic; every financial product- from the stock market to the commodities sector has been affected, and the cryptocurrency market is no exception.

Nonetheless, the recent crash should be seen as a temporary price correction, which is an inevitable aspect of every asset class, even during regular times.

Cryptocurrency has a bright future, especially in Asia

A closer look at emerging trends over the past couple of years will establish the value of cryptocurrencies in the new normal.

In the face of the pandemic amidst global economic meltdowns, cryptocurrencies have emerged as remarkably resilient assets. Furthermore, the rapid increase in digitization has created an even more ripe environment for digital currency.

This is particularly true for the APAC region, where more than 60 percent of the world population resides –  a population with a rising middle class and increasing smartphone and internet usage driving digital trends.

According to a recently published study by Messari crypto researcher Mira Christanto, six out of the top ten cryptocurrency unicorns are located in Asia.

The report also indicates that around 98 percent of ethereum-based futures and 94 percent of bitcoin futures volumes stem from the region.

Furthermore, by the end of 2019, six of the world’s top ten largest crypto firms were located in Asia. And as of January this year, of the top 20 token projects with headquarters, 42 percent of the market capitalization is based in Asia.

All of which has contributed to Bitcoin’s meteoric rise in value in the past few years and increasing interest from institutional investors and major banks, including Goldman Sachs, which set up its bitcoin trading desk earlier this month.

Choosing the right platform for best interests and good returns is key

Market trends suggest that the recent crash was merely a glitch and that cryptocurrency is still a safe bet, especially for individual investors looking to grow their assets.

However, it is crucial to choose the right platform to grow assets through interests. When making that decision, it is essential to keep a few key factors in mind:

  • What are the interest rates?
  • Is there consistency, or are the rates too fickle?
  • Will I have the flexibility to play around with my assets?

One such reliable platform is Singapore-based Hodlnaut that provides financial services for individual investors.

They earn interest on their cryptocurrencies by lending to corporate borrowers, who would otherwise struggle to access crypto loans.

An emerging cryptocurrency lending platform, Hodlnaut now offers an increased rate of 10.0% APR (10.5% APY) for stablecoins.

Another point of note is that their cryptocurrency and stablecoin rates have remained consistent irrespective of market conditions.

To give users maximum flexibility, Hodlnaut launched a new Token Swap feature that allows users to seamlessly swap tokens and earn interest from their choice of available assets, including BTC, ETH, DAI, USDC, and USDT.

In a post-pandemic world, digital assets will be the next big, if not the biggest, thing. Learn more about Hodlnaut here and secure your future.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.financemagnates.com/thought-leadership/heres-why-despite-the-recent-bitcoin-crash-all-hope-isnt-lost/

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Binance NFT Marketplace Hosts The First ‘Genesis’ NFT Auction

[PRESS RELEASE – Singapore, Singapore, 23rd June 2021] Featuring Legendary Artists Dali & Andy Warhol as NFTs, a tokidoki mystery box, and NFTs from ‘100 Creators’ from around the world! The Binance NFT Marketplace will launch this Thursday, June 24th with a first premium auction titled ‘Genesis’, launching the first series of ‘Mystery Boxes’, and […]

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[PRESS RELEASE – Singapore, Singapore, 23rd June 2021]

Featuring Legendary Artists Dali & Andy Warhol as NFTs, a tokidoki mystery box, and NFTs from ‘100 Creators’ from around the world!

The Binance NFT Marketplace will launch this Thursday, June 24th with a first premium auction titled ‘Genesis’, launching the first series of ‘Mystery Boxes’, and the recently announced ‘100 Creators’ program. Hosted in collaboration with TRON and APENFT the auction will feature exclusive collectibles and can’t-miss content from popular artists and creators, the event is set to be the ultimate, no-compromise NFT experience you’ve been waiting for. Users can participate in the auction, apply for the Mystery Box, and trade in the marketplace starting June 24th at 10 AM (UTC +8).

Premium Event

‘Genesis’ Auction: ‘Three Self-Portraits’ and ‘Divine Comedy: rebeget’

The 3 portrait series are Nirvana, Vitality, and Harmony.

As the first auction taking place on Binance NFT Marketplace, the theme of the ‘Genesis’ auction implies a new wave of Renaissance with NFTs. NFT technology has revolutionized the world of art for good, bringing the concept of digital ownership to life for the very first time. The ‘Genesis’ auction represents this idea and brings two valuable pieces that represent ‘wind of change’ periods in history.

As part of our first “Premium Event” auction, the ‘Genesis’ collection will feature two iconic artworks: Andy Warhol’s’ “Three Self-Portraits” and a newly digitized NFT of Salvador Dali’s “Divine Comedy: rebeget”. Andy Warhol is the leading figure in the pop art movement and Binance NFT exhibits ‘Three Self-Portraits’ to commemorate the revolutionary and disruptive spirit of Andy Warhol.

Warhol’s introduction of mass production techniques to visual art has foreshadowed today’s digital world, where content can be easily copied, downloaded, and reshared. Just as Warhol changed the perception of value when it came to reproducible artwork, NFT technology has forever changed the way value is assigned to digital art. With Three Self-Portraits, Warhol’s pioneering work is celebrated with a community artist’s tribute to Warhol’s original artwork. This recreation series will be available on June 24, with an exclusive run of 100 NFTs.

Dali was invited by the Italian government to commemorate the 700th anniversary of Dante’s birth in 1965, Dante’s Divine Comedy is one of the most recognizable works of literature in the modern world, and Dali’s watercolor illustrations pay tribute to the journey depicted in the Divine Comedy. As a precursor to Renaissance literature, the Divine Comedy has influenced countless artists and helped shape the modern world of art. 2021 marks the 700th anniversary of Dante’s death. To commemorate this, The Divine Comedy NFT was re-designed to have a blockchain element by featuring the bitcoin symbol, CZ’s signature, and the Binance logo in the pattern of the artwork (which can only be seen when you zoom in).

BinanceNFT

Helen Hai, the Head of Binance NFT, said “Binance shares similar values as ‘Genesis’, revolutionizing the fintech space with blockchain technology and crypto, paving the ways as a blockchain pioneer leader, just like how ‘Genesis’ auction will do the same for the NFT industry.”

The auction will also include the first-ever Binance NFT “Mystery Box” featuring 16 collectible ‘tokidoki’ characters, including 3 Binance characters which can only be obtained in the first “Mystery Box” drop, made available exclusively through NFKings Productions on Binance NFT. ‘Tokidoki’, which translates to “sometimes” in Japanese, is an internationally recognized and iconic lifestyle brand based on the vision of Italian artist Simone Legno. Since debuting in 2005, tokidoki has amassed a cult-like following for its larger-than-life characters and emerged as a sought-after global lifestyle brand with over millions of physical tokidoki sold worldwide, and most recently 110,000 digital tokidoki sold out in minutes.

Binance’s brand new “100 Creators” program will also make its debut as part of the “marketplace” category at the ‘Genesis’ auction, which will feature work from talented artists and everyday creators from around the world. Bidding will start at 10 AM UTC on June 24 and the auction will last for 5 days. The winner of ‘Three Self-Portraits’ will also receive the physical art piece shipped by Apenft.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/binance-nft-marketplace-hosts-the-first-genesis-nft-auction/

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After the Miami Heat: FTX Partners With Major League Baseball (MLB)

FTX continues with its sports partnerships in the US by announcing a new collaboration with Major League Baseball (MLB).

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After joining forces with NBA’s Miami Heat, the cryptocurrency exchange FTX keeps its expansion with significant partnerships – this time is the US MLB. As a result, the trading platform has become the Official Cryptocurrency Exchange brand of the league.

  • According to a press release from earlier on June 23rd, FTX has entered into a “long term, global partnership” with MLB. This has become the “first-ever” official collaboration between “a professional sports league and a cryptocurrency exchange.”
  • Becoming the Official Cryptocurrency Exchange brand of MLB will enable FTX to “create increased brand awareness” and “continued innovation.”
  • The US branch of the trading platform has also “formed an agreement” with MLB Players Inc. to receive group player rights. As a result, FTX will use MLB highlights to create original content.
  • “It’s an honor for FTX to be the first cryptocurrency exchange to be associated with the history and tradition of America’s national pastime. At FTX, we strive each day to make a positive global impact, and there is no better partner for us to achieve this goal with than with MLB and its international fan base.” – commented the exchange’s CEO and Founder – Sam Bankman-Fried.

  • Noah Garden, the Chief Revenue Officer of the MLB, said his organization is “incredibly” excited to partner with a “global leader” like FTX. It will allow the league to adopt new technology and engage with fans.
  • This major development comes just months after the trading venue inked another partnership with one of the most popular NBA teams – the Miami Heat.
  • After the deal, worth $135 million, the team’s home court received a name change and is now officially called the FTX Arena.
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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/after-the-miami-heat-ftx-partners-with-major-league-baseball-mlb/

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John McAfee Reportedly Found Dead After Spain’s High Court Approved Extradition to the US

John McAfee, the person behind the well-known McAfee antivirus and a vocal proponent of cryptocurrencies, has been reportedly found dead in a prison cell in Barcelona.

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John McAfee, the veteran entrepreneur, and cryptocurrency proponent, has been reportedly found dead in his prison cell.

  • Two leading Spanish outlets, El Mundo and El Pais reported that the US entrepreneur has been found dead in his prison cell in Barcelona.
  • The news was also shared by Reuters Legal on Twitter.
  • At the time of this writing, there’s no other confirmation of his death or the reasons for it, though both Spanish outlets quote the Department of Justice.
  • Meanwhile, reports indicate, on several occasions, that McAfee committed suicide.
  • It’s worth noting that the news of his death started circling on the same day Reuters reported that Spain’s High Court approved the extradition order of the entrepreneur to the United States.
  • McAfee was charged with tax evasion, which he has been rather vocal about in the past.
  • Separately, he was also charged by the US SEC for fraudulently promoting initial coin offerings.

This story is developing. 

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/john-mcafee-reportedly-found-dead-after-spains-high-court-approved-extradition-to-the-us/

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