Blockchain Bylines

Last week in crypto, 7 day prices were up across the market, with a 6% growth in Bitcoin, and 4% in Ethereum. The Canadian Supreme Court has given its approval for the merger of Hut 8 Mining Corp. and US Bitcoin mining company, Bitfury. This decision signifies a significant development in the cryptocurrency industry, as it allows Hut 8 to acquire Bitfury and expand its Bitcoin mining operations. The merger is expected to bolster Hut 8's position as a prominent player in the Bitcoin mining sector and enhance its mining capabilities. This news reflects the growing importance of the cryptocurrency market in Canada and the broader global crypto landscape, showcasing the increasing legitimacy and acceptance of digital currencies in the financial world. Stacks token price surged over 12% in the last 7 days, in response to Bitcoin's rise above $27,000. Stacks, an Ethereum-compatible blockchain, saw a notable increase in value, leading investors to consider it a potential buy. This price surge could be attributed to the growing interest in blockchain projects aiming to enable smart contracts on Bitcoin. Stacks offers this functionality and has gained attention as a viable solution.  New York regulators have introduced new transparency regulations for cryptocurrency firms regarding coin listings and delistings, exchanges operating in the city will be required to provide clear information about the criteria used for listing and delisting digital assets, as well as any changes to those criteria. New York regulators claim these rules aim to enhance consumer protection and market integrity by working to prevent market manipulation and fraudulent activities while promoting transparency and accountability within the crypto industry.  Kazakhstan has established a Central Bank Digital Currency (CBDC) development agency, marking a significant move into the world of digital currencies. This agency will oversee the creation and implementation of a national CBDC. Kazakhstan aims to harness the benefits of CBDCs, including improved payment efficiency, financial inclusion, and reduced transaction costs. The move is part of the country's broader efforts to modernize its financial infrastructure and promote digital innovation in the financial sector. This is a fast follow to Hong Kong and Israel, who a couple of weeks ago announced their planned collaboration and knowledge sharing initiatives around building their own CBDCs. Follow us to get involved in the crypto community, or head to blockchain.com to buy, trade, and store crypto on a platform trusted by millions.

Last week in crypto, Bitcoin price stayed stable above $26k as US CPI numbers for August were higher than expected. Telegram, a popular messaging platform with 800 million users, has unveiled its cryptocurrency wallet. This move allows users to securely store, send, and receive digital assets within the app. The wallet supports various cryptocurrencies, including Bitcoin and Ethereum, and incorporates a decentralized exchange feature. Telegram aims to simplify the crypto experience for its massive user base, potentially driving further adoption of digital currencies. The Bank of Israel and Hong Kong Monetary Authority (HKMA) have signed a memorandum of understanding (MoU) to explore CBDC collaboration and share knowledge. This partnership aims to foster innovation and enhance financial infrastructure while facilitating cross-border transactions. Both regions acknowledge the growing significance of digital currencies and their potential to revolutionize the financial sector. The collaboration signifies a step towards CBDC implementation, reflecting the global trend among central banks to investigate and develop digital currencies in response to the changing landscape of payments and finance. Despite recent announcements to temporarily withdraw its UK offering, PayPal has expanded its crypto payment options for Web3 merchants in the US. Expanding token acceptance to Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. PayPal has claimed this move is part of its efforts to support the growing Web3 ecosystem and demonstrate a continued commitment to cryptocurrency integration in the financial landscape. The WeMix Korean Golf Tournament has incorporated cryptocurrency into its event by offering crypto prizes. Participants can win Bitcoin and Ethereum as rewards for their performance in the tournament. This innovative approach aims to attract more participants and engage the crypto community in golf. It represents a unique intersection of sports and digital assets, showcasing the increasing acceptance and integration of cryptocurrencies into various sectors beyond traditional finance. Follow us to get involved in the crypto community, or head to blockchain.com to buy, trade, and store crypto on a platform trusted by millions.

Last week in crypto, Bitcoin’s price jumped to nearly $28k on Tuesday, before dropping back to $26k on Thursday. Various theories have emerged, including the SEC’s opt to delay Bitcoin ETF deadlines.  X, formerly Twitter, is obtaining a license to facilitate US crypto payments. Speculation hit the internet over whether X intends to accept crypto payments and a potential ‘X coin’, designed to reward creators. So far, Elon Musk has denied this.  A Brazilian cryptocurrency streamer suffered a $50,000 loss after inadvertently revealing their private key. During a live stream on YouTube on August 29th, Ivan Bianco accidentally exposed his private key to a self-custody crypto wallet. Bianco shares content around blockchain games, and during the livestream opened a text file he was storing his Gala Games password, which also contained the seed phrase for his crypto Wallet. This security breach highlights the importance of safeguarding private keys to prevent unauthorized access and potential theft of digital assets. Fortunately, reports surfaced over the next couple of days that Bianco was able to recover some of his funds. Nonetheless, a painful lesson in private key security.  Oprah Winfrey and Dwayne “The Rock” Johnson have launched the People’s Fund of Maui initiative which puts money directly into the pockets of those who are affected by the recent wildfires. The fund will accept crypto donations, an emerging trend in recent years. The Giving Block, a prominent crypto charity platform, has reported a significant increase in crypto donations. In 2021, crypto donations reached more than $69M, compared to $4.2M in 2020. Interestingly, the average donation size in crypto surpasses traditional donations with an average donation size of over $10,000 compared to $128 for traditional currency donations. Follow us to get involved in the crypto community, or head to blockchain.com to buy, trade, and store crypto on a platform trusted by millions.

Alex Gladstein, Chief Strategy Officer at the Human Rights Foundation, discusses how Bitcoin can strengthen civil liberties. They explore the mission of HRF and its impact on supporting human rights globally. The podcast also delves into the foundation's growth, funding, and notable backers. They highlight the use of blockchain technology in empowering individuals in authoritarian regimes to share their stories and provide resources for financial freedom.

Last week in crypto, Trump Digital Trading Card NFTs shot up 42% in floor price, and Trump Digital Cards Series 2 soared in trading volume. WorldCoin dropped nearly 10% in the last few days. The token experienced a 40% spike in it’s launch week, perhaps due to it’s controversial requirement to provide an eye-scan to claim but seems that initial popularity was short-lived. Bitcoin supply in exchanges is nearing 6-year lows, data shows that just 5.8% of the entire Bitcoin supply is currently held by exchanges. Several theories have emerged as to why, one driving element behind it being investors’ preference for long term holding strategies and a consistent input from affluent individuals and institutions, with an average of 57,000+ $100,000 transactions each week. Forbes has reported that Oman has invested $1.1 billion in Bitcoin mining infrastructure. Citing excitement to be part of the growing cryptocurrency market, and a desire to be known as the central hub of mining cryptocurrency worldwide. Global response has been positive, predicting this move to help Oman’s economy by providing new jobs, and raising their presence as a modern country open to new ideas and technologies. Follow us to get involved in the crypto community, or head to blockchain.com to buy, trade, and store crypto on a platform trusted by millions.

Last week in crypto, data from a Saint Petersburg Exchange and the Russian Trading System emerged showing that more than half of Russian citizens want to store their money in a central bank digital currency.  WorldCoin, which experienced a 40% spike in it’s launch week, perhaps due to it’s controversial requirement to provide an eye-scan to claim, has lost its initial popularity and dropped nearly 10% in the last few days.  With Donald Trump’s return to Twitter and posting of his mugshot, NFTs have seen a surge. Trump Digital Trading Card NFT shot up 42% in floor price, and Trump Digital Cards Series 2 soared 3617% in trading volume. Bitcoin supply in exchanges is nearing 6-year lows, data shows that just 5.8% of the entire Bitcoin supply is currently held by exchanges. Several theories have emerged as to why, one driving element behind it being investors’ preference for long term holding strategies and a consistent input from affluent individuals and institutions, with an average of 57,000+ $100,000 transactions each week. Forbes has reported that Oman has invested $1.1 billion in Bitcoin mining infrastructure. Citing excitement to be part of the growing cryptocurrency market, and a desire to be known for the central hub of mining cryptocurrency worldwide. Global response has been positive, predicting this move to help Oman’s economy by providing new jobs, and raising their presence as a modern country open to new ideas and technologies. Follow us to get involved in the crypto community, or head to blockchain.com to buy, trade, and store crypto on a platform trusted by millions.

Last week in crypto, Cardano's price remained in the red despite significant market activity by both large investors and aggressive traders. Binance announced multiple pair delisting, while reports have surfaced showing Donald Trump as an Ethereum whale. PayPal has suspended crypto purchases in the UK, affecting users' ability to buy and sell digital assets. This move temporarily halts a convenient crypto avenue for UK customers, with PayPal committing to the return of the service in 2024. A new lobbying group, the Crypto Mining Advocacy Coalition, has emerged in Washington to represent the interests of cryptocurrency miners. Focusing on regulatory policies, the group aims to influence discussions and decisions surrounding crypto mining, signaling an effort to shape favorable regulations for the industry within the U.S. capital. Cube3AI, a web3 security startup, has come out of stealth mode with $82 million in seed funding. The company aims to enhance security within the decentralized web space, leveraging advanced technologies to protect users and platforms. The substantial seed funding reflects growing investor interest in safeguarding the evolving web3 ecosystem. Follow us to get involved in the crypto community, or head to blockchain.com to buy, trade, and store crypto on a platform trusted by millions. Sign up for a Wallet ⁠https://bit.ly/3dpcCQw⁠ Sign up to the Exchange ⁠https://bit.ly/3QzCKGP⁠

Last week in crypto, the Bank of England’s base rate hike impacted the bitcoin stirling pairing, which has risen above the 25-day and 50-day moving averages. NFT Platform Nifty has closed down, and Israel’s only public stock exchange, the Tel Aviv Stock Exchange has signed an agreement with the digital asset platform Fireblocks to jointly offer a range of new digital asset products and services.  The Litecoin halving event completed, with block rewards now halved to 6.25 litecoin per block. Litecoin is the 12th-largest cryptocurrency by market capitalization, and sometimes referred to as the silver to bitcoin’s gold. BitPay has reported that as of June, Litecoin surpassed Bitcoin as the crypto of choice for payments, accounting for 35% of transactions.  Ethereum passed it’s 8th anniversary and the crypto community joined together to celebrate. On July 30th 2015, one of Ethereum’s Founders published a blog post, officially announcing that the network had been rolled out sharing “The vision of a censorship-proof ‘world computer’ that anyone can program, paying exclusively for what they use and nothing more, is now a reality.’ Here at Blockchain.com we gave the equivalent to $5 bonus to all our ETH buyers.  CoinTelegraph has reported that the adoption of blockchain technology is gaining momentum among farmers in Africa as it offers various benefits to agricultural practices. Blockchain helps to increase transparency and traceability in the supply chain, ensuring fairer prices for farmers' produce and reducing food fraud. Additionally, it enables better access to financial services for small-scale farmers, who often face challenges in obtaining loans due to lack of credit history. By digitizing and recording farming data, blockchain also enhances productivity and efficiency, leading to improved yields. The technology's potential to transform agriculture is drawing interest and investment in the region, supporting sustainable development and poverty reduction efforts. Sign up for a Wallet ⁠https://bit.ly/3dpcCQw⁠ Sign up to the Exchange ⁠https://bit.ly/3QzCKGP⁠ For one year, friends of Blockchain.com can get:  15% off 1Password Families  15% off 1Password Individual  Simply follow the link in our bio to claim your discount now.

Last week in crypto, bitcoin price bounced around the $29k mark, crypto mining retailer Phoneix eyed up an IPO, and BlackRock vowed to democratize crypto through their spot Bitcoin ETF. Worldcoin is a cryptocurrency project aiming to distribute cryptocurrency to every person on the planet. To achieve this, it plans to use biometric identification technology for a fair and equal distribution. The project aims to provide universal basic income and promote financial inclusion globally.  Neobank platform Hi has secured $30M in funding and shared their vision for an NFT debit card offering. Their founder is predicting cards could bridge the gap between physical and digital assets, allowing users to own unique NFT-based debit cards representing their identity and assets. This innovation could revolutionize the financial landscape in the realm of blockchain and NFTs. Elon Musk is proposing to build his own stablecoin, Musk, but proposed legislation regulating stablecoins in the US may impact this. Follow us to get involved in the crypto community, or head to blockchain.com to buy, trade, and store crypto on a platform trusted by millions. Sign up for a Wallet ⁠https://bit.ly/3dpcCQw⁠ Sign up to the Exchange ⁠https://bit.ly/3QzCKGP⁠ For one year, friends of Blockchain.com can get:  15% off 1Password Families  15% off 1Password Individual  Simply follow the link in our bio to claim your discount now.

In segment ‘Blockchain for good’ we’re unearthing real world examples of how blockchain technology is making a real world difference to people, communities and charities all around the world. We’ll learn more about organizations and projects using crypto and blockchain technology to promote social and economic inclusion, and sustainability efforts.  Today we’re joined by Tori Samples, Senior Product Manager the Stellar Foundation to discuss how , the first-of-its-kind blockchain payment solution for digital cash distribution to internally displaced persons (IDPs) and other war-affected people in Ukraine. Sign up for a Wallet ⁠https://bit.ly/3dpcCQw⁠ Sign up to the Exchange ⁠https://bit.ly/3QzCKGP⁠