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Tom Brady Football Card Sold For $1.7 Million in Litecoin

An unknown buyer used Litecoin to pay for a football card of the legendary quarterback Tom Brady worth $1.68M.

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An anonymous buyer purchased a signed football card of Tom Brady for about $1.68M worth of LTC at an auction presented by Goldin Auctions. The company revealed that this is the most expensive item to be paid in cryptocurrency since it started accepting such payments.

LTC in Exchange for a Football Card

Cryptocurrencies have intertwined with American football as Goldin Auctions revealed a massive purchase at their auction with one of the most popular digital assets. The autographed card of the seven-time Super Bowl champion Tom Brady was sold to an unknown buyer for $1.68M paid in litecoin which, at the time of writing, trades at $260.

According to Goldin Auctions, the company has never sold a more expensive item since it started allowing crypto payments a month ago. Ken Goldin, Founder of Goldin Auctions commented after the deal:

”The hobby is undergoing increadible growth unlike anything I have seen in my 40+ years in the industry.”

Goldin outlined the connection between crypto and purchasing football cards and stated that this is one of the most expensive hard assets to be given in return for digital currencies:

”Trading cards and crypto are now two of the most rapidly growing alternative asset classes and we know there is a lot of overlap between the communities.”

Tom Brady’s card is regarded as the ”Holy Grail” of the collecting industry according to Tyler Winklevoss – CEO of the crypto exchange Gemini. In fact, a similar card of the football legend from the 2000 Playoffs still holds the pricing record as it was sold for $2.25M at Lelands Auctions.


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Brady and Other Celebrities Got Into NFTs

Tom Brady and many other popular individuals dived inside the crypto industry and more specifically the NFT trend lately.

The 43-year old legend of American football recently revealed his plans to dip into the craze of non-fungible tokens. As CryptoPotato reported, Tom Brady announced his intentions to release his own NFT platform called Autograph.

Another popular name jumping into the world of non-fungible tokens is the hip-hop titan Eminem. Following the rumors, the 15-time Grammy award winner has officially dropped a collection of his own. The so-called Shady Con came out on Sunday with a ”variety of Eminem-approved collectibles.”

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Source: https://cryptopotato.com/tom-brady-football-card-sold-for-1-7-million-in-litecoin/

Blockchain

Bitwise Launches Crypto Industry Innovators ETF

Bitwise has announced the launch of its ‘Bitwise Crypto Industry Innovators ETF” (BITQ) that offers investors exposure to companies in the crypto sector.

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Crypto asset management firm Bitwise has announced the launch of its Bitwise Crypto Industry Innovators ETF (BITQ) that offers investors exposure to companies in the cryptocurrency sector. The Bitwise Crypto Industry Innovators ETF is already live on the New York Stock Exchange with the ticker BITQ. The index captures the companies engaged in the crypto sector and has at least $100 million of liquid digital assets on their balance sheet.

Bitwise Launches Crypto Industry Innovators ETF (BITQ)

Asset management firm Bitwise has designed a Bitwise Crypto Industry Innovators ETF (BITQ) focused on thirty companies in the crypto market with at least $100M of liquid crypto assets on the balance sheet.

READ  Enjin Coin Became First Authorised Gaming Crypto by JVCEA

Also, these companies must have 75% of income derived from cryptocurrencies or have 75% of their net assets in crypto.

In the announcement release, Matt Hougan, CIO of Bitwise, said:

“Like e-commerce and mobile before it, crypto is a disruptive technology creating massive opportunities for new companies to emerge as winners. Until recently, most great crypto innovators were private companies, but that’s changing rapidly. Today, there’s a growing set of public companies capitalizing on crypto, and more to come. BITQ aims to identify these businesses and give investors access.”

Previously, Bitwise applied with the SEC to launch such a fund, but the firm withdrew its application from the regulatory agency earlier this year.

Hunter Horsley, CEO of Bitwise, says that BITQ aims to make crypto investment opportunities available through traditional investing platforms:

READ  Bitcoin Price Will Rally To $100,000: Binance CSO

“With BITQ, our aim is to make crypto investment opportunities available through traditional investing platforms and a familiar, liquid, and cost-effective ETF. We are thrilled to see this space continue to grow as investors increasingly gravitate toward this transformative asset class.”

Bitwise 10 Crypto Index Fund Available to Investors on OTC Market

With over $1.5 billion in assets under management, the firm has previously launched a number of crypto index funds, including a DeFi index. Currently, Bitwise sponsors over five other crypto-related funds namely, Bitwise 10 Crypto Index Fund, Bitwise DeFi Crypto Index Fund, Bitwise Bitcoin Fund, Bitwise Ethereum Fund, and Bitwise 10 Index Offshore Fund.

Most are private placements available only to accredited investors but the Bitwise 10 Crypto Index Fund is made available to all investors on the OTC market.

READ  Bitcoin Satoshi Vision (BSV) Unconfirmed Transactions (Mempool) Spike

#BITQ #Bitwise #Bitwise Crypto Industry Innovators ETF

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Source: https://www.cryptoknowmics.com/news/bitwise-launches-crypto-industry-innovators-etf

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Hong Kong in Talks with China to Stretch Cross-Border Testing of Digital Yuan

After the successful proceeding of the first phase of the testing of the Digital Yuan, Hong Kong is in talks with China to stretch its cross-border testing.

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After the successful proceeding of the first phase of the testing of the Digital Yuan, Hong Kong is in talks with China to stretch its cross-border testing. This has marked yet another step toward wider adoption of the currency.

Hong Kong to Stretch Testing of Digital Yuan to China

The Monetary Authority of Hong Kong has recently conducted tests with the Digital Currency Institute of the People’s Bank of China.

In addition to this, the Hong Kong Monetary Authority said in an e-mailed response to the questions asked that it involved a bank designated by the mainland authority, as well as the merchants and bank staff.

The e-mailed response said:

“We have tested the use of the related app, system connectivity, and certain use cases such as cross-boundary purchases.” 

Along with this, the statement said:

“We are discussing and collaborating with the PBOC on the next phase of technical testing, including the feasibility of broadening and deepening the use of e-CNY for cross-boundary payments.”

Also, it should be known that the People’s Bank of China is pretty ahead of other major central banks in the development of its own digital currency.

The bank is looking forward to replacing cash and maintaining control over a payments landscape that has become increasingly dominated by technology companies not regulated like banks.

Payment Infrastructure Underpinning e-CNY can Address Substantial Portion of Cost Base

As revealed in the report released on Wednesday by Oliver Wyman, the usage of the Digital Yuan in Hong Kong could lead to a much faster and cheaper cross-border payment and clearing process. 

Michael Ho, the Principal of Financial Services at Oliver Wyman and Co-Author of the report said:

“If the payment infrastructure underpinning e-CNY were to roll out for cross-border payments at scale, we believe it can address a substantial portion of this cost base.”

China could promote the overseas use of digital yuan starting with the Greater Bay Area, a massive urban cluster that includes Shenzhen, Macau, and Hong Kong.

READ  Diginex Introduces EQUOS.io In Singapore To Start Derivative Product Trading

#Cross-border transactions #Digital Yuan #Hong Kong

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Source: https://www.cryptoknowmics.com/news/hong-kong-in-talks-with-china-to-stretch-cross-border-testing-of-digital-yuan

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Identity Platform Acuant Partners with Blockchain Analysis Firm Chainalysis

It has been revealed that the identity platform for fraud prevention and Anti-Money Laundering compliance, Acuant has partnered with Chainalysis.

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In a recent announcement, it has been revealed that the identity platform for fraud prevention and Anti-Money Laundering compliance, Acuant has partnered with Chainalysis. The recent partnership between the AML compliance and the blockchain analysis company is meant to assist financial institutions with AML solutions.

Acuant Partners Chainalysis to Provide AML Solutions

The partnership between Chainalysis and Acuant will be helping in assisting the cryptocurrency businesses assess risk, safeguard them against illegal transactions, automate workflows, and protect their reputations with Anti-Money Laundering solutions.

In addition to this, it should be known that the customers of both partners, Acuant and Chainalysis, will now be able to leverage both the platforms via the interface provided by Acuant to manage transactions that are indicative of higher risk.

The customers will be provided with access to Chainalysis Know Your Transactions (KYT) as well as Chainalysis Reactor, their graphical investigative software

Talking further about the investigative software, it can be utilized to follow the flow of funds across the blockchain for investigations.

The amalgamation of the Chainalysis Know Your Transactions and Acuant integrates a data set of thousands of services with the solutions that help to review both the fiat and crypto transactions.

The Integration of Identity Platform and Blockchain Analysis Firm

Well, along with this, the integration will be helping in detecting any kind of suspicious activities, manage the investigations, and moreover, file the suspicious activity reports (SARs).

The real-time alerts on the highest-risk activity will be allowing the compliance teams to target the most urgent activity and following that, fulfill the regulatory obligations to report the transactions that are suspicious.

Jose Caldera, the Chief Product Officer at Acuant said:

“Our partnership with Chainalysis will further augment our support to the cryptocurrency industry. This partnership is bringing together and integrating the top Anti-Money Laundering solutions in the marketplace today. We look forward to working with Chainalysis to strengthen our platform and to continue to be a leading solutions provider in the crypto space.” 

READ  Bitcoin PARABOLIC!! | $9,500 Next Stop?? | Bitcoin Maximalism Vs. Altcoin Hype | BTC On Excel

#Acuant #Blockchain #Chainalysis

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Source: https://www.cryptoknowmics.com/news/identity-platform-acuant-partners-with-blockchain-analysis-firm-chainalysis

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BIC’s Video News Show: Bitcoin Cash

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In this episode of the BeInCrypto video news show, host Jessica Walker will look at bitcoin cash (BCH). The coin has returned to the top ten in market cap, due to an anticipated upgrade, its pairing with ethereum (ETH), as well as the increased use of CashFusion. We’ll also take a look at its recent price movements.

Bitcoin Cash is Back in the Top 10 Cryptos! Is it There to Stay?

Bitcoin cash back in top ten

Bitcoin cash has been gaining a lot in the past several weeks. It currently sits at the tenth place on CoinMarketCap’s top cryptocurrencies in terms of market capitalization. It is a regular on the list and it seems to be going up because of investors looking for the next “boom-coin.” By sharing a name with mainstay bitcoin (BTC), it’s basking in the glory of its more popular namesake. But what are some other reasons for BCH’s return to the top ten?

May 15th upgrade

Perhaps the most important thing on BCH holders calendar is the upgrade that will happen on May 15. Most of the changes are aimed at improving the experience of users and merchants when using BCH to make payments. This will hopefully provide another incentive for adoption.

Another upgrade that stands out to us is the removal of the unconfirmed chained transaction limit. This will allow users to do more than 50 chained unconfirmed transactions at a time. This was a highly requested feature for a long time. In particular, by gambling sites and other high volume, quick transaction apps that relied on BCH for payment. 

BCH and Ethereum

Another interesting development around BCH is its pairing with Ethereum. This will happen through the SmartBCH sidechain, which was announced last Thursday. 

In an interview with bitcoin.com, the Smart Bitcoin Cash team lead explained that developers and decentralized app makers can now experiment and develop with the sidechain, which is compatible with the Ethereum Virtual Machine. This seems to have already provoked some interest. 

The Coinflex exchange team has begun running tests with setting up a decentralized exchange and creating tokens. If successful, the sidechain could become a platform for expanding the user base of bitcoin cash and grow its ecosystem. 

CashFusion

CashFusion has also been mentioned quite a lot this week. For those of you who haven’t heard of it, CashFusion is a service that provides privacy for bitcoin cash. Described simply, it lets wallets help each other blend into the crowd and keep prying eyes away. 

Reports have indicated that since CashFusion was introduced in November 2019, there have been more than 67,000 fusions or almost $6 billion worth of BCH using today’s exchange rates. This could be another sign of the popularity of bitcoin cash, which has largely gone under the radar in recent months.

Technical analysis

A quick chart analysis shows us that we are close to a high from May 2018, which was around $1,850 dollars. Right now, we seem to be on track to reach and test that level. But a correction and retest of $1,228 on the downside are also possible, although that level did hold several days ago. 

Source:TradingView

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Nick is a data scientist who teaches economics and communication in Budapest, Hungary, where he received a BA in Political Science and Economics and an MSc in Business Analytics from CEU. He has been writing about cryptocurrency and blockchain technology since 2018, and is intrigued by its potential economic and political usage. He can best be described as an optimistic center-left skeptic.

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Source: https://beincrypto.com/bics-video-news-show-bitcoin-cash/

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