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Tether Blacklists 39 ETH Addresses Worth Over $46 Million

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Right after 100,000 in USDC were blacklisted by Centre as the cryptonews yesterday showed, we can see that Tether blacklists 46 million of USDT in Ethereum addresses. The stablecoin managed to blacklist 39 ETH addresses which were worth $46 million in USDT, 24 of which holding around 5.5 million USDT being blacklisted this year.

The revelation comes on the back of Centre and its first blacklisting of Ethereum address holding $100,000 in USDC which went viral yesterday. Anyways, one Ethereum researcher at Horizon Games named Philippe Castonguay used Dune Analytics to create a dashboard which tracks the number of addresses that were blacklisted by both Centre and Tether.

From here, we can see that the largest address that Tether blacklists holds over 4.5 million USDT and was blacklisted on April 5 this year.

tether blacklists usdt
A screenshot showing the 39 addresses blacklisted by Tether. (Source: DuneAnalytics)

Right now, the Tether news show that similar to the blacklisted addresses holding USDC, the Tether addresses which receive a blacklisting function are no longer able to transact with the cryptocurrency, freezing any coins held in its address.

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According to the general counsel at Bitfinex (which is a sister company of Tether) named Stuard Hoegner, the media that Tether works with international law enforcement agencies and blaclists addresses whenever required.

“Tether routinely assists law enforcement in their investigations… Through the freeze address feature, Tether has been able to help users and exchanges to save and recover tens of millions of dollars stolen from them by hackers.”

Tether now freezes all of these amounts and reactions are coming in the social media world. The CIO of Arcane Assets, Eric Wall, took to Twitter to say that the most recent freeze occurred on June 14, which held 939,000 USDT which were received from Binance around 22 hours before the blacklisting occurred.

Wall also added that most other freezes were purely precautionary actions:

“Most other freezes seem to have been made on Ethereum accounts either for  precautionary reasons (possibly identified as scams/Ponzis) or in error/to protect others from making errors (like freezing  0x000…0001). 3 addresses were unfrozen after the freeze.”

All of these developments add to the distrust that central organizations have within the crypto world – and resistance is specifically over stablecoins and their ability to be censored.

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Source: https://www.dcforecasts.com/tether-news/tether-blacklists-39-eth-addresses-worth-over-46-million/

Blockchain

Venezuela May Soon Be Collecting Taxes in Crypto

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The Bolivarian Council of Mayors in Venezuela signed the so-called “National Tax Harmonization Agreement” for 305 municipalities in the country, including the Petro (PTR) as a means to collect payments of taxes and sanctions.

The cryptocurrency is becoming increasingly widely used as the result of a new campaign. 

According to the government, the vice president of Venezuela, Delcy Rodríguez, will be in charge of implementing a single registry of taxpayers through a digital consultation tool.

She will also be in charge of creating an information exchange and monitoring system for companies to record payments in the state cryptocurrency.

In Venezuela, there are 335 mayors, with 91% of them under the mandate of the United Socialist Party of Venezuela, PSUV. Only 30 mayors are led by opponents of the regime of Nicolás Maduro. 

The non-Maduro-supported municipal governments are continuing to collect tax payments in the Venezuelan fiat currency, Bolívar, as some do not have the appropriate technology to process Petro payments.

Vice President Rodríguez commented in the announcement:

“It is the simplification of procedures, making the State’s administrative activity at the service of the people more efficient, of the economic sectors that stimulate economic activity in the productive and commercial areas, framed in this week of flexibility that began on Monday.”

The Venezuelan government announced on June 11 that almost 15% of all fuel payments at petrol stations across the country were made using the Petro (PTR). This rise comes during the first week of the new state-backed plan to promote widespread use of the token.

According to reports from local media outlets, 40% of the PTR transactions passed through the foreign petrol stations.

Source: https://cointelegraph.com/news/venezuela-may-soon-be-collecting-taxes-in-crypto

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Animoca Targets Non-Crypto Gamers by Developing Big Brand Games

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While investment is heating up in the blockchain gaming sector, a common criticism of crypto-powered games has been how to secure users from outside of the cryptocurrency space.

Blockchain gaming powerhouse, Animoca Brands, believes that acquiring mainstream games with loyal players and exposing them to the benefits of blockchain and distributed ledger technology (DLT) is the best way to attract new audiences into crypto.

Cointelegraph spoke to Yat Siu, the chief executive of Animoca Brands, to learn about his firm’s strategy for bridging the gap between the mainstream gaming and crypto worlds.

Animoca Brands has quickly emerged as a leading firm within the crypto gaming sector, securing a global licensing agreement with Formula 1 ahead of its F1 Delta Time release, and announcing a $3 million initial exchange offering (IEO) for its title The Sandbox on Binance’s launchpad last week.

Siu described The Sandbox as a prime example of how strategic acquisitions have allowed Animoca to capture non-crypto-native audiences and expose them to blockchain technologies.

“When we do acquisitions, we’re not buying companies that are necessarily blockchain-related,” Siu said. “When we acquired the company Excel, it was a traditional mobile game developer that had the Sandbox game that wasn’t yet fully on blockchain, although they had the vision to go there,” he continued.

“We’re not just acquiring a talented team that could make stuff on blockchain, but we are also acquiring customers that already play the game — and these are gamers that we can transfer over.“

A stake in a game’s success

Siu emphasized that Animoca’s seeks to acquire games that “already have a captive audience that is already generating revenue [and] already loving the product as it is.”

“By giving it the benefits of blockchain technology, those gamers will get an additional benefit that we think is very powerful,” he added.

Siu described blockchain as driving a disruption to the gaming industry akin to the emergence of online gaming, but with very different concepts around “ownership and value.”

“Ownership allows [gamers] to actually have a stake in the success of the game.”

Source: https://cointelegraph.com/news/animoca-targets-non-crypto-gamers-by-developing-big-brand-games

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Flipstarter Campaign Launched to Create Viral BCH Videos for Normies

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Bitcoin Cash (BCH) advocate and CEO of BitcoinBCH.com, Hayden Otto, has launched a fundraising campaign to create viral videos promoting BCH to mainstream audiences — after failing to win over crypto converts to the cause.

The last video produced by Otto garnered more than 100,000 views across various social platforms. He was also behind a controversial viral video last year showing a Bitcoin double spending exploit of the Binance-backed TravelbyBit payment network

The campaign aims to raise 650 BCH (nearly $180,000) and has garnered 192.52 BCH (roughly $53,000) in donations already in the first 48 hours.

The campaign is hosted on Flipstarter, a BCH-powered fundraising platform that has facilitated more than 2,900 BCH worth of contributions toward various initiatives in support of  Bitcoin Cash development.

The funds will be used to create videos with a budget of either $5,000 or $10,000 each to be posted to Youtube, Lbry.io, and Bitchute, alongside other “alternative streaming sites.” 

Fund marketing, not development

Otto told Cointelegraph he decided to start the campaign after noting several BCH supporters “saying that they would prefer to donate to Bitcoin Cash marketing rather than development.”

Otto has spearheaded numerous marketing initiatives for BCH over the past three years, including “producing video content for online audiences, […] running meetups, or putting up signs/billboards.”

Otto asserted that financial support from the community would allow him to “supercharge” his promotional efforts. 

BitcoinBCH.com’s fleet of promotional vehicles

BitcoinBCH.com’s fleet of promotional vehicles

Otto emphasized the importance of exposing non-crypto-native audiences to Bitcoin Cash, telling Cointelegraph: “One mistake Bitcoin Cash supporters have made is that they have attempted to convert people to Bitcoin Cash that are already involved in cryptocurrency and ingrained in their beliefs.”

“There has been some success with getting this type of person on board […], but the target audience is too small,” he said.

Otto added that many “people who are already involved in crypto […] are price speculators” who desire “to make a quick buck on hype and things that’ll never achieve any real-world adoption.”

“It is far more effective to target individuals and businesses who have not yet experienced cryptocurrency, which is like 99% of the people on the planet.”

The Bitcoin Cash community partnered with rapper Lil Windex to release a music video and single title Bitcoin Ca$h in 2018. The video has more than 1.5 million views on YouTube.

Source: https://cointelegraph.com/news/flipstarter-campaign-launched-to-create-viral-bch-videos-for-normies

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