Japan’s Prime Minister Fumio Kishida and the ruling Liberal Democratic Party are advocating Web3 development amid a major corruption scandal that threatens their political stability. With leadership elections approaching in September and declining party support, the future of Japan’s Web3 policy and initiatives, including a substantial number of active projects, remains uncertain. Despite global challenges […]
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Maxine Waters Questions Meta’s Digital Asset Ambitions
Maxine Waters has sent a probing letter to Meta, querying the tech giant’s recent spate of trademark applications related to digital assets and blockchain technology.
Maxine Waters Suspects Meta’s Renewed Interest in Digital Assets Through Trademark Filings
Maxine Waters, the ranking Democrat of the House Financial Services Committee, has raised concerns over Meta’s recent trademark applications which suggest the tech giant’s potential re-entry into the digital asset space. Waters sent a detailed letter to Meta’s CEO Mark Zuckerberg and COO Javier Olivan, questioning the company’s intentions regarding digital assets and blockchain technology.
In her letter, Waters pointed out five trademark applications filed by Meta over the past year. These applications cover a range of services, including an online social networking and dating service facilitating digital currency exchange, development of blockchain-related computer hardware and software, and cryptocurrency trading services. This move comes despite previous statements from Meta staff indicating no ongoing digital asset projects at the company.
Waters, a vocal critic of Meta’s crypto ventures, particularly the Libra (later Diem) stablecoin project, expressed her concerns about the company potentially delving back into digital asset plans. She highlighted the incongruity between Meta’s trademark filings and their public disavowal of current digital asset ventures.
In 2019, Meta faced significant regulatory and legislative scrutiny over its plans to launch the Libra cryptocurrency and the Calibra digital wallet. Waters, along with other lawmakers, had requested a moratorium on these projects due to privacy and national security concerns. Despite these challenges and the eventual shutdown of the Diem project, Waters’ letter suggests that Meta’s interest in digital assets persists.
The congresswoman’s letter also seeks clarity on whether Meta intends to launch a cryptocurrency payments platform and its plans for the recently filed trademark applications. She emphasized the need for transparency, especially given the company’s troubled past with digital currencies.
As of now, Meta has not publicly responded to the letter.
Is Meta pursuing several potential digital asset related business opportunities? Share your thoughts and opinions about this subject in the comments section below.
MultiversX Launches Strategic Partnership With Google Cloud to Further AI and Big Data Ambitions in the Web3 World
PRESS RELEASE. After outlining a comprehensive strategy to spearhead the development of blockchain-powered tools and Web3 solutions that leverage and extend the reach of emerging AI technologies, MultiversX, the leading layer-1 smart contract platform, has announced a strategic partnership with Google Cloud, the global public cloud leader, renowned for exceptional artificial intelligence capabilities, and data analytics tools.
During an extensive conversation on the xDay Conference stage – that has featured multiple representatives from major tech companies, government officials and influential experts – Beniamin Mincu, MultiversX CEO, and Daniel Rood, Head of Web3 EMEA at Google Cloud, have just announced they are joining forces to accelerate Web3 expansion.
MultiversX’s sharded architecture is capable of scaling beyond 100,000 transactions per second and has lately been the first choice as a backend solution for real-world applications in multiple fields. Due to its industry-wide innovations around token standards and smart accounts, MultiversX has been the platform of choice for the first European institutional marketplace for digital assets and Audi’s platform for in-car virtual reality, holoride, among others.
To help Web3 projects and users derive valuable insights from powerful data analytics and artificial intelligence tools, BigQuery, the serverless Google Cloud data warehouse with a built-in query engine, has completed the integration of the MultiversX network. This has the potential to immediately streamline the execution of large-scale, data-first blockchain projects.
“There are exciting opportunities to enable Web3 developers to build and scale faster and as we explore new verticals within the space, our partnership with MultiversX will allow us to expand our strategy and reach further and solidify our position as one of the main innovation drivers in the blockchain world.” added Daniel Rood, Head of Web3 EMEA
Furthermore, the Google Cloud involvement into the MultiversX network enables ecosystem builders to leverage the entire suite of advanced tools and services available on the platform to bring high-performance and scalability to their dApps’ non-blockchain components.
Having a strong focus on ecosystem development, the collaboration between the two industry leaders had their first joint initiative at the xDay Hackathon, where hundreds of developers and startups benefit from up to M in prizes and funding, while Google Cloud is the main partner of the Artificial Intelligence track.
“We are excited to unveil this collaboration as part of a strategic plan meant to expand our ecosystem and bring significant opportunities for users and developers. MultiversX is in a unique position, with great potential for accelerated growth, and the additional products and services brought by Google Cloud are a key contribution to that.” said Beniamin Mincu, MultiversX CEO
Google Cloud’s plans to expand into Web3 is one of the many early mover examples in its long-history of supporting innovation and technological advancement. The lines of collaboration with MultiversX over the coming months will continue to explore deeper integration and support of the MultiversX network, as well as new ways to help startups grow and scale.
https://twitter.com/MultiversX
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Crypto Tidbits: Bakkt Bitcoin Futures Inbound, NASA Hints at Blockchain Ambitions, Libra in Hot Water
Another week, another of Crypto Tidbits. While Bitcoin (BTC) effectively ended the week where it started in terms of price, the underlying market saw a flurry of developments that may only have positive effects on the adoption of cryptocurrency.
Bakkt is poised to launch its Bitcoin futures on Monday, “Big Four” auditing giant Deloitte embraced cryptocurrencies in a really odd way, Square Crypto completed a star-studded developer team to help bring Bitcoin to the world, and the CME has announced its intentions to delve even further into the crypto market.
Related Reading: Crypto Tidbits: PWC Branch Accepts Bitcoin, Ethereum Istanbul Pushed, Apple Talks Cryptocurrency
Bitcoin & Crypto Tidbits
- NASA in Search of Scientist with Crypto & Blockchain Experience: Bitcoin investors talk much of going to the moon, but they often don’t mean it literally. But this may be changing. As first spotted by NewsBTC, the American space agency is looking for an entry-level data scientist with knowledge of cryptocurrency and blockchain, per this LinkedIn posting. Despite this not being listed as a necessity, having prowess in this new field may help. We found only one instance of NASA mentioning “crypto”. It isn’t clear what the data scientist would be working on. Maybe it’s a space coin; maybe it’s a blockchain-based supply chain for NASA’s projects. Who knows?
- CME to Launch Bitcoin Options After Wild Success of Futures: The CME Group will be launching Bitcoin options in Q1 of 2020. This builds on top of the institution’s seminal Bitcoin product, Bitcoin futures contracts that have managed to pull in massive volumes. In an announcement, the company said that these new products, which still need to be approved by regulators, will be aimed at providing clients with “additional tools for precision hedging and trading”.
- Germany & France Look to Block Facebook’s Crypto: On Wednesday, Reuters reported that the Berlin Government passed a blockchain strategy bill that would aim to stem any company or entity trying to establish a “parallel currency”. The strategy, which was purportedly approved by Chancellor Angela Merkel’s cabinet on Wednesday, is purportedly for the German government to “liaise closely with its European and international allies to prevent stablecoins from becoming alternative currencies”. This came shortly after France’s Finance Minister said that the European Union should disallow the launch of Libra in the Eurozone.
- Libra Asserts It Will Launch in 2020: Despite these fears, executives of the Libra Association and of Facebook have asserted that the project is still eyeing a 2020 launch. David Marcus, the head of Calibra at Facebook, has also said that in no ways will Libra infringe on the monetary sovereignty of states, as the cryptocurrency will be 1:1 backed by fiat currencies.
- VanEck, SolidX, CBOE Pull Bitcoin ETF Application From SEC: The Bitcoin exchange-traded fund (ETF) rollercoaster took another dive on Tuesday, perpetuating the ride that these investment vehicles have been on for over five years. In a filing dated September 17th, VanEck and SolidX, the partners behind a leading Bitcoin ETF application, revealed that they had pulled their application from the Securities and Exchange Commission (SEC). This came ahead of the October 18th deadline for the SEC’s verdict on the product. This move came shortly after SEC chairman Jay Clayton asserted on CNBC that he still doesn’t think the cryptocurrency market is ready for a Bitcoin fund.
- Bitcoin Hash Rate Tops 100 Million: As reported by Blockchain.com on Thursday, the hash rate of the leading cryptocurrency network has topped the 100 exahashes/second milestone for the first time… ever. In fact, the data website revealed that Bitcoin’s hash rate hit 102.8 exahashes/second, which is up by over 150% from the bottom seen in December. For those that have no clue what the heck an “exahash” is, the number of hashes being processed by Bitcoin miners each and every second to maintain the network is the following: 102,800,000,000,000,000,000.
- Bakkt Futures to Launch on Monday: This upcoming Monday, Bakkt will be launching its Bitcoin futures to an eager institutional audience. Analysts at Fundstrat say that this newfangled product will likely improve institutional involvement in the cryptocurrency markets.
- Deloitte Trials Bitcoin Payments in Canteen: As first spotted by The Next Web, Deloitte was reported by the Luxembourg Times to have embraced Bitcoin in a really weird way: by announcing intentions to purchase their lunches in-office with the leading cryptocurrency. The “Big Four” professional services behemoth, which sports some 300,000 employees in offices across the globe, is purportedly integrating such a payments system to gauge the viability of BTC, which is an asset that auditing firms have increasingly had to deal with over recent years.
- Square Crypto Completes “Inaugural” Developer Team, Looks to Bolster Bitcoin: On Thursday last week, Square Crypto, the cryptocurrency-centric division of the fintech giant, finally finished the hiring process for its core group of Bitcoiners. After a multi-month-long application process, during which over one thousand resumes were submitted to the company, the division announced that it had completed the hiring of three developers: Valentine Wallace, Jeffrey Czyz, and Arik Sosman. Wallace hails from Lightning Labs, one of the primary builders behind the Bitcoin scaling solution that shares the company’s name; Sosman from Facebook’s Libra team and custody provider BitGo; and Czyz from Google. They are expected to help improve the “Bitcoin experience for mainstream users”.
Related Reading: Ethereum by Numbers Looking More Bullish Than Ever
Featured Image from Shutterstock
The post Crypto Tidbits: Bakkt Bitcoin Futures Inbound, NASA Hints at Blockchain Ambitions, Libra in Hot Water appeared first on NewsBTC.
Crypto Ambitions Rise in Cuba to Curb Economic Crisis
The number of countries facing economic woes is rising dramatically. In order to mitigate the impact of inflation, nations are looking towards cryptocurrency as one possible solution and Cuba is the latest to turn to digital assets.
Cuba Going Crypto
As part of a series of measures to boost its economy the Cuban government said that it was looking into the use of cryptocurrencies. The move comes amid a deepening crisis exacerbated by US sanctions which appear to be spreading across the globe as president Trump deepens his economic embargoes.
The island nation’s state run economy is crumbling due to a decline in Venezuelan aid, lower exports, and tightening of sanctions according to a Reuters report. President Miguel Diaz-Canel announced the measures on state-run TV this week which will also raise income for around a quarter of the population and deepen market reforms.
Economy Minister Alejandro Gil Fernandez said:
“We are studying the potential use of cryptocurrency … in our national and international commercial transactions, and we are working on that together with academics,”
There were no further details or specifics on whether Cuba would be developing its own state crypto, similar to Venezuala’s Petro, or would be looking towards existing digital currencies.
Venezuela is facing a similar problem as hyperinflation is devaluing the national currency on a daily basis. Just last week the Banco Central de Venezuela printed more new notes in 10,000, 20,000 and 50,000 bolivar denominations. The state announced the launch of a new re-denominated Bolivar which shaved five zeros off the national currency during last year’s monetary reform.
Venezuelans has flocked to Bitcoin as an alternative hedge according to Coin Dance. Volumes have surged to all-time highs of over 46 billion in recent weeks as bitcoin hit new highs for fifteen months.
McAfee to the Rescue
Crypto warlord John McAfee was quick to offer his services to the Cuba government if and when it proceeds with its crypto ambitions.
“Cuba is planning to use Cryptocurrency to get around the 63 years of economic strangulation imposed upon 14 million Cuban people by the insanity of the US Government. Finally, a large scale, real world application for Cryptocurrencies. If Cuba wants my help, I am here.”
Cuba is planning to use Cryptocurrency to get around the 63 years of economic strangulation imposed upon 14 million Cuban people by the insanity of the US Government. Finally, a large scale, real world application for Cryptocurrencies. If Cuba wants my help, I am here. pic.twitter.com/zgHUNwRcdE
— John McAfee (@officialmcafee) July 3, 2019
McAfee is currently holed up somewhere in Havana, on the run from the far reaching tendrils of the US tax department. US regulators are still wary of nations attempting to evade sanctions by using crypto currencies and may well look unfavorably upon them at home.
As president Trump continues to flex his economic muscles the number of nations looking to distance themselves from America and its dollar is growing. Cuba is the latest and it joins the ranks of Russia, Venezuela, Iran and China in the ever expanding list of sanctioned countries.
Image from Shutterstock
The post Crypto Ambitions Rise in Cuba to Curb Economic Crisis appeared first on NewsBTC.
EOS, Litecoin, Stellar, Tron, IOTA Technical Analysis: Crypto Finds Solace in Malta and Binance’s Ambitions
The slide continues and even with Twitter representatives visiting Tron offices triggering rumors of potential partnerships, sellers continue to run havoc.
So far, Tron leads the collapse shedding six percent in the last day while IOTA is pretty much stable testing the main support line at 90 cents. In any case, we shall wait for better sell entries once there are breaches below key support lines.
In other news, Binance is planning on setting up a bank with Malta’s Founders bank and following the steps of Litecoin.
We are happy to welcome @binance among our first investors! Join us in our mission and invest in Founders Bank during equity token offering on @neufundorg. Sign up for newsletter and stay up to date: https://t.co/Xl6NYAYcXO https://t.co/61IRVmrrOq
— Founders Bank (@foundersbankorg) July 12, 2018
Let’s have a look at these charts:
EOS Technical Analysis
With a billion war chest, Block One is attracting the best talent in the banking and even the crypto world. After bringing on-board Michael Alexander from the Jeffries Group to oversee EOSIO investment and financial related matters, they are now stepping up their game.
Citibank Human Resources Managing Director James Mendes to Join https://t.co/LgcclYjBIb as Chief People Officer https://t.co/7do7SLm4al
— EOS (@EOS_io) July 12, 2018
James Mendes is now part of Block One and before joining, he was the MD of Human Resource at Citi Croup. This high-frame talent acquisition is in line with their objective of laying the framework of a scalable platform utilizing blockchain technology.
Despite this, EOS coin is on the slide. Not only is price down but the trading volumes took a hit indicating reluctance. At the time of press, EOS is down six percent and trading below our sell trigger and main support line at .
So, because of our trade plan, we shall recommend shorting this coin and taking advantage of the bear break out pattern that is developing. Ideal stops should be above yesterday’s highs at .5 with targets at and later assuming sell pressure is strong.
Litecoin (LTC) Technical Analysis
There is much talk around the benefits of LN to users and Charlie Lee weighed in on the issue. Through a Tweet, he said there is more for makers running the LN on both Bitcoin and Litecoin. There users can easily act as a maker, earn a spread whenever they trigger a conversion while takers can automatically swap LTC/BTC via the maker node.
Lightning Network will be the ultimate decentralized exchange. Users that are running LN on both BTC and LTC can advertise an exchange price and act as a maker earning a spread. Other users can act as a taker and atomically swap LTC/BTC with the maker node via lightning.
— Charlie Lee [LTC
] (@SatoshiLite) July 11, 2018
This of course is easier said than done because for this to be possible then mobile integration would have to be much easier. Besides, for maker-taker models to take root then access to funds in the wallet have to be possible.
Regardless of this good vibes, prices are still on a down trend meaning our trade plan is intact. The only undoing is if we see prices edging above , our main buy trigger line and recent higher high cap. If there is no appreciation at around and instead we see a melt-down below April lows then sellers would be better placed to continue shorting with every pull-back as they aim for .
Stellar Lumens (XLM) Technical Analysis
Syncing with the general mood in the market is Stellar Lumens which is current five percent down from yesterday. While we are overly bearish, any bullish attempt thrusting XLM above July 10 highs at 20 cents and 22 cents on the upper limit effectively means a recovery.
Despite this we should also realize that XLM is trading inside a consolidation with strong limits at 15 cents on the lower side and 22 cents on the upper side. So, even though we are bearish, risk-on traders can wait and see what happens at 15 cents.
Any break below means trend continuation and in that case targets would be at 8 cents. On the flip side, any rejection would be a launch pad for buyers.
Tron (TRX) Technical Analysis
Overly, sellers have been relentless on their drive. So far, TRX is trading below 4 cents following period of consolidation and eventual break below on July 9.
Today, like yesterday, we suggest shorting TRX on every high and this time, our stops would be shifted lower to July 10 highs of 3.5 cents.
As usual, our targets remain at 2.5 cents, a key support level marking the lower limit of February-April horizontal consolidation.
IOTA (IOT) Technical Analysis
On a weekly basis, IOTA is still on a down trend and we shall continue to sell as long as the technical points in that direction. Today, we take a pause simply because IOTA prices are approaching key technical levels: 2018 main support line at 90 cents.
As we have reiterated before, this is going to be a break out trade and the best approach is to wait for confirmation.
Remember, should we see sellers breaching 90 cents then we shall short with stops at and sell target at 65 cents. On the reverse side, if there is rejection of lower lows and buyers support prices, then we shall wait for confirmation only buying when buyers push above .3.
Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.
The post EOS, Litecoin, Stellar, Tron, IOTA Technical Analysis: Crypto Finds Solace in Malta and Binance’s Ambitions appeared first on NewsBTC.