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The First NHL Team To Accept Crypto Is Here

The NHL’s San Jose Sharks have announced that they’ll be accepting crypto for payments as early as June 15th – the first NHL team to do so. Cryptocurrency will be accepted for season tickets, luxury boxes and sponsorships. The Future Of Crypto In Hockey “We’re accepting PayPal, so then by definition, we’re accepting cryptocurrency,” Sharks […]

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The NHL’s San Jose Sharks have announced that they’ll be accepting crypto for payments as early as June 15th – the first NHL team to do so. Cryptocurrency will be accepted for season tickets, luxury boxes and sponsorships.

The Future Of Crypto In Hockey

“We’re accepting PayPal, so then by definition, we’re accepting cryptocurrency,” Sharks president Jonathan Becher said regarding the news. “Why not embrace it and make it more visible as opposed to just doing it through a third party?”

The team partnered with BitPay to accept a variety of cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, and more. Becher elaborated on Twitter with further comment, adding that “Initially we’ll accept cryptocurrency for season tickets, suite leases, and partnerships. Other use cases – including single-game tickets, F&B, and merch – will be evaluated over time #SJSharks”.

The door isn’t closed to crypto collectibles and other engagement as well. When asked about NFTs and smart contract collectibles in a Twitter reply, Becher responded “Perhaps. I do think the blockchain will have more of an impact on sports & entertainment than people realize.”

Related Reading | Roush Fenway Racing First US Sports Team To Launch Fan Token

When Crypto Hits The Ice…

The NHL is continuing to get warmed up with crypto engagement. In March, crypto exchange Crypto.com signed a partnership deal with the Montreal Canadiens. The news came alongside another deal for the major exchange, which paired them with the International Ice Hockey Federation (IIHF).

Fan tokens have been another way that teams have considered engaging; the NHL’s New Jersey Devils signed a deal with Socios.com and Chiliz around marketing efforts to integrate blockchain technology in audience monetization and engagement. Other major teams and leagues have partnered with the blockchain company to launch their own fan tokens as well.

Chiliz and Socios.com are becoming a focal point in 'fan tokens' - a popular way for major league teams to utilize blockchain technology to engage with fans. | Source: CHZ-USD on TradingView.com

Beyond The NHL: Crypto In Sports

The NBA’s Sacramento Kings were the first U.S. major league team to accept crypto payments for merchandise and tickets back in 2014, and many have joined since. Basketball’s Dallas Mavericks joined the league, with owner Mark Cuban getting involved with other businesses in crypto as well. The MLB’s Oakland A’s made headlines for opening up the sale of ten luxury suites for one bitcoin each. Other teams internationally have gotten involved as well.

While team engagement continues to ramp up, that hasn’t been slowing down individual athlete engagement in crypto – primarily through tools like NFTs. And of course, major properties such as the Olympics aren’t hesitating getting involved either; you can find these stories and more in our weekly recap, NFT’s In A Nutshell.

Related Reading | Esports Organization TSM Teams With Crypto Exchange FTX For Historic Deal 

Featured image from Pixabay, Charts from TradingView.com

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://bitcoinist.com/the-first-nhl-team-to-accept-crypto-is-here/?utm_source=rss&utm_medium=rss&utm_campaign=the-first-nhl-team-to-accept-crypto-is-here

Blockchain

$3.6B Worth Bitcoins Scam, Founders of South African Crypto Exchange Africrypt Are Missing

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The total value of $3.6 billion Bitcoins disappeared while the founders of South African cryptocurrency exchange AfriCrypt are missing, Bloomberg reported.

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A pair of the brother of 20-year-old Ameer Cajee and 17-year-old Raees Cajee founded South Africa-based digital currency exchange AfirCrypt in 2019 to attract high-net-worth individuals and celebrities.

The company claimed its platform was hacked on April 13 but urged its investors not to report the incident to lawyers and authorities, claiming the report would hinder the recovery of funds.

Hanekom Law Firm has accepted the request from their client of the victim for further investigation. Yet, the law firm was doubtful and sceptical related to the hacking incident, comment this:

“We were immediately suspicious as the announcement implored investors not to take legal action. Africrypt employees lost access to the back-end platforms seven days before the alleged hack.”

The law firm found that later the pair of founders of AfriCrypt immediately moved to the UK after the incident and closed all contact information.

Reportedly, the brothers have transferred 69,000 BTC from AfriCrypt’s account and customer wallet to an account in the First National Bank (FNB) in Johannesburg. According to the current bitcoin price, the transaction price of $32,968, worth an estimated $2.275 billion.

Attorney Hanekom stated that these funds were transferred to various dark web tumblers and mixers, causing challenges with severe fragmentation and untraceable funds.

The authority said the investigation was undergoing and transferred the case to a special division of the South African Police Force. Yet, the South African government faces legal challenges due to its incomprehensive laws targeting cryptocurrencies assets.

Image source: Shutterstock Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://Blockchain.News/news/3.6b-bitcoins-disappeared-with-lossing-contact-founders-south-african-crypto-exchange-africrypt

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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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Overbit Surveys 3000 Crypto Traders

While the crypto sector continues its fluctuations, Overbit has released some interesting data regarding the community after its latest survey. The leading Bitcoin exchange conducted a survey involving 3,000 crypto traders across 87 countries. The survey highlighted details related to crypto exchange selection, trading strategies, and diligence techniques. The survey spanned two weeks and took …

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While the crypto sector continues its fluctuations, Overbit has released some interesting data regarding the community after its latest survey. The leading Bitcoin exchange conducted a survey involving 3,000 crypto traders across 87 countries. The survey highlighted details related to crypto exchange selection, trading strategies, and diligence techniques.

The survey spanned two weeks and took place back in March 2021. As per the report, over 34% of traders expected the crypto sector to go higher. Users should note that the cryptocurrency community was already witnessing a record-breaking high at that point. An interesting pattern was pointed out among the traders with 1-2 years of trading experience as they were highly optimistic about the industry.

Overbit Surveys 3000 Crypto Traders

Over 44% of them expected the sector to rise while most traders speculated a relatively less-bullish trend. As expected, Ethereum and Bitcoin remained the two most popular crypto choices among the lot.

The ownership statistics for Bitcoin did not differ much from 2020’s report. However, Ethereum experienced a substantial increase in this regard. Among the 3,000 traders, almost 65% owned Ethereum, which was 50% back in 2020.

Overbit Surveys 3000 Crypto Traders

Most of the correspondents (65%) stated that they left cryptocurrencies in exchange wallets. Surprisingly, only 25% of the respondents used cold wallets to store crypto. Among the traders, 9% accepted losing cryptocurrencies due to a security breach. However, almost 11% stated that they lost digital assets kept within a private wallet. The statistics showcased how exchanges are offering a better security performance than cold wallets.

Cheh Liu (Founder and CEO of Overbit) stated the crypto sector had evolved substantially in the past few years. Traders are showing more trust in crypto exchanges, eliminating the issues faced by new traders. In addition, the crypto sector is garnering global adoption, and as the standard financial means face decreased interest rates and inflation, traders prefer cryptos like Bitcoin over them.

The report supported the statement, revealing that 32% of the new traders only invested in cryptocurrencies in 12 months.

Overbit, the well-known Bitcoin exchange platform, recently revealed the findings of its latest survey. The report conducted back in March 2021 showcased interesting exchange selection, crypto preferences, diligence techniques, trading strategies, and more information.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptonewsz.com/overbit-surveys-3000-crypto-traders/

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South Africa Is Looking at $3.6B Bitcoin Fraud as Africrypt Founders Flee

This is easily one of the largest crypto frauds in the world.

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South Africa is looking at the country’s biggest cryptocurrency fraud as the two Africrypt founders, Raees and Ameer Cajee, disappeared with Bitcoins worth $3.6 billion belonging to the investors of the fund.

Ameer Cajee, who is the chief operating officer of Africrypt, wrote to the investors on April 13 informing them that the investment platform has been hacked which forced them to halt operations.

Bank Account Alternative. Business Account IBAN.

He elaborated that the company was trying to recover the funds and urged the investors not to inform law enforcement as that might delay the recovery process. Africrypt investors include several high-profile South Africans and celebrities.

A Cape Town law firm representing the victims is suspecting that the two founders have fled to the United Kingdom with around 69,000 Bitcoins. The amount involved easily makes it one of the biggest crypto frauds in the world, let alone South Africa.

The law firm further found that the brothers transferred pooled funds from the South African bank accounts and clients’ wallets and then broke the Bitcoins into pieces and sent them to mixers.

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Investors Need to Be Cautious

Last year, thousands of South Africans were defrauded by Mirror Trading International (MTI), a local Bitcoin trader company that is now under liquidation, for around 23,000 Bitcoins.

Africrypt, however, has a different business plan than MTI, which followed a pure multi-level marketing model. But both the companies claimed to be using computer algorithms for trading cryptocurrencies and generating profits.

Cajee brothers also lured investors with a guarantee of jaw-dropping 10 percent daily returns on the investments, a claim which should have immediately raised suspensions.

Though the case has been reported to the Hawks, an elite unit of the South African police, Financial Sector Conduct Authority (FSCA), and the SA Reserve Bank, a tussle is going on over the jurisdiction.

“We don’t have jurisdiction, but we are looking at complaints to see if there is a financial product hidden in there,” said Brandon Topham, head of enforcement at the FSCA.

South African regulators are already alert to the growing crypto scams and working to bring regulations to the local crypto industry. The central bank also barred international transactions for the purchase of cryptocurrencies.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.financemagnates.com/cryptocurrency/news/south-africa-is-looking-at-3-6b-bitcoin-fraud-as-africrypt-founders-flee/

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