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Three years ago there were a lot of discussions concerning data embedded in bitcoin transactions and the block size space consumed by these OP_Return transactions. However, in recent times, the use of OP_Return transactions has dropped a great deal and the trend has lowered network fees to some degree. OP_Return Transaction Domination Slows Significantly Alleviating Bitcoin Network Fees Bitcoin transfer fees have dropped quite a bit over the last nine months since July 1, 2021. At that time, the average transaction fee to send bitcoin ( BTC ) was above $10 per transaction. Statistics show that at the end of April 2022, the average fee to send BTC is 0.000042 BTC or $1.62 per transfer. This month a report published by the lead at Galaxy Digital Research, Alex Thorn, explains there are a number of reasons why onchain transactions have been cheaper. Thorn’s report explains there are a number of reasons why fees are lower including the use of transaction batching, increased Segrega...

According to a report from the blockchain company Blocsec, Rari Capital’s Fuse platform has lost roughly $80 million from a “reentrancy vulnerability.” On Saturday, Fei Protocol’s official Twitter account confirmed it lost funds from the Rari Fuse platform exploit. $80 Million Swiped from Rari Capital Another decentralized finance (defi) protocol attacker has managed to siphon millions of dollars worth of crypto from a defi project. On Saturday, the blockchain and smart contract audit firm Blocsec revealed Rari Capital’s Fuse platform suffered a loss of $80 million. “Our monitoring system detected that multiple pools related to [Rari Capital] and [Fei Protocol] were attacked, and lost more than 80M US dollars,” Blocsec tweeted . “The root cause is due to a typical reentrancy vulnerability.” Blocsec also shared a picture of the exploit and said : “One picture worth a thousand words.” This is not the first time Rari Capital has been attacked. The project revealed on May 8, 2021, t...

The Brazilian Senate has approved a recently presented cryptocurrency policy, advancing the project to discussions in the deputy chamber. The proposal will have to be greenlighted by the deputies of Congress and signed by President Jair Bolsonaro to be approved as law. The project presented is the result of the fusion of several law projects dealing with crypto. Brazilian Senate Greenlights Crypto Law Project The Brazilian Senate has greenlighted a cryptocurrency law project that seeks to give more clarity and protect users from different cryptocurrency-related scams that have happened in the country. The project will now advance to the Chamber of Deputies, which will be responsible for debating and approving or rejecting this new project. The project was elaborated by choosing different projects that were presented earlier by taking some parts from one, and some from another. Senator Flávio Arns, senator Styvenson Valentim, senator Soraya Thronicke, and federal deputy Aureo Ribe...

FTM was down by as much as 12% to start the weekend, as crypto markets were once again under a red wave. ATOM was also victim to this wave, falling to its lowest level since last August during Saturday’s session. Fantom (FTM) Fantom (FTM) was down by double digits on Saturday, as bearish pressure continued to send prices deep into multi-month lows. Saturday saw FTM/USD fall for a third consecutive session, as prices hit an intraday low of $0.786 earlier today. Today’s low is the lowest point prices have reached since last September, and comes following a bearish start to the year. Overall, FTM has traded lower for five of the six last months, ever since recording an all-time high of $3.47 in October. Looking at the chart, this weakness has pushed prices deep into oversold territory, which is one of the only good signs for remaining long-term bulls. Despite FTM failing to find a floor in recent months, should this current level hold firm, we may begin to see consolidation, and...

Bitcoin and ethereum were both trading lower to start the weekend, as crypto markets continued to face bearish pressures. The current uncertainty surrounding next week’s Federal Reserve meeting has seen prices consolidate for most of the week, with Saturday being no different. Bitcoin Bitcoin ( BTC ) was once again in the red during today’s session, as prices continued to trade below the key $40,000 level. The world’s largest cryptocurrency dropped to a low of $38,235.54 to start the weekend, following a peak of $39,263.60 on Friday. Saturday’s fall has seen the price continue to slowly approach the long-term support level of $37,570, which is a point that hasn’t been reached since March 13. One reason why BTC bears haven’t yet captured this floor is due to the fact that the 14-day RSI continues to sit above its own support. As of writing this, relative strength is tracking at 40.50, which is slightly above the ceiling of 40, and bears have likely avoided entering in huge numbe...

The U.S. Labor Department has “grave concerns” about Fidelity Investments allowing investors to put bitcoin into their 401(k) accounts for retirement savings. An official of the Labor Department said it risks the retirement security of Americans, stressing that “cryptocurrencies can present serious risks to retirement savings.” U.S. Labor Department’s ‘Grave Concerns’ Over Fidelity’s Bitcoin 401(k) Offering The U.S. Labor Department is deeply concerned about Fidelity Investments’ new offering to allow investors to put up to 20% of their 401(k) savings and contributions into bitcoin ( BTC ). A 401(k) is a popular workplace savings plan in the U.S that has tax advantages as an incentive to invest for retirement. Ali Khawar, Acting Assistant Secretary of the Labor Department’s Employee Benefits Security Administration, said in an interview with The Wall Street Journal Friday: We have grave concerns with what Fidelity has done. Khawar explained that Labor Department believes that F...

Only a small share of cryptocurrency transactions have illicit purposes and the use of digital coins in illegal activities is for the most part a myth, a high-ranking Russian lawmaker has recently stated. Andrey Lugovoy, who is one of the deputies working on new crypto regulations, also said Russia can become a global leader in crypto mining. Russian Developers Working on Software Detecting ‘Dirty’ Cryptocurrency The illegal use of cryptocurrencies is largely a myth, according to Andrey Lugovoy, a member of the working group on crypto regulation at the State Duma, the lower house of Russian parliament. “According to the largest crypto exchanges, no more than 4 to 6% of the cryptocurrency turnover is involved in illegal activities,” the lawmaker told Parlamentskaya Gazeta. Lugovoy, who is also deputy chairman of the security and anti-corruption committee, pointed out that there are effective tools to identify wallets that are employed for illicit purposes such as those offered by ...

According to a World Economic Forum (WEF) tweet, a “change in the way bitcoin is coded could almost eliminate its environmental impact.” That statement stems from a tweet the WEF published on April 26, with an accompanying video that claims “miners could stake their own bitcoins to verify transactions.” WEF on Bitcoin’s Proof-of-Work: A ‘Basic Change in Coding” Could Eliminate ‘Most of the Network’s Energy Demands’ In recent times, there have been a lot of arguments about the energy consumption used by cryptocurrency miners and how it impacts the global environment. In recent times, politicians and regulators have been targeting the mining industry. Additionally, the environmental global campaigning network Greenpeace, with the help of Ripple Labs co-founder Chris Larsen, started a campaign to get Bitcoin’s code changed so it will be friendlier to the environment. The web portal cleanupbitcoin.com states: You’ve heard Bitcoin fuels the climate crisis, but did you know a software...

NEXO was up by nearly 50% on Friday, as markets reacted to the news that Binance was listing the token on its platform. Today’s surge sent NEXO to a multi-week high, while TRON also moved higher, hitting a one week peak. NEXO Two weeks after announcing a partnership with Mastercard to launch the world’s first “crypto-backed” payment card, NEXO today achieved another milestone. Binance confirmed that it will be adding the token to its platform, and this news was well received by markets. NEXO/USD rose by nearly 50% during today’s session, hitting an intraday high of $3.66 in the process. Friday’s surge comes less than 24-hours after prices were trading at $2.14, and as of writing are tracking at a record high. This recent peak comes following a three day rally which began at support of $2.10, with two long-term resistance levels broken as a result of the bullish ascent. The price of NEXO, which launched in December last year is now overbought, with the RSI tracking at 71.94, whi...

Crypto prices continued to seesaw on Friday, as both bitcoin and ethereum fell into the red, after a short lived rally on Thursday. Bitcoin was once again below $40,000 during the session, while ethereum extended its recent spell of trading below $3,000. Bitcoin Bitcoin (BTC) once again fell below the $40,000 level on Friday, following a short stint in the green during yesterday’s session. Following a peak of $40,269.47 on Thursday, BTC /USD fell to an intraday low of $38,698.16 earlier today. This comes as BTC was unable to climb above resistance of $40,500, as bullish momentum eased, which was likely a result of traders closing positions. Now that we are back in the red, the first thought would be for how long, with some likely to be targeting the $37,570 floor as a potential exit point. Looking at the chart, the 14-day RSI has also changed course, and is now tracking at a floor of its own marginally below 43. If price strength were to continue to fall beyond this point, we...

The Cuban government has issued new regulations concerning the operation of virtual asset service providers (VASPs) in the country. In an official resolution, the Bank of Cuba establishes specific procedures that these individuals or companies must follow to operate legally in the country, after establishing a general framework in August. Bank of Cuba Clarifies Rules for VASPs The Cuban government has advanced a new law framework that brings clarity to how virtual asset service providers must proceed to operate legally in Cuba. A new decree , identified with the number 89/2022, specifies and defines the requirements that individuals and companies must comply with to operate cryptocurrency exchanges and custody services in the country. First and foremost, the resolution established the Central Bank of Cuba as the only institution with faculties related to the revision and approval of virtual asset service provider licenses. In this sense, the resolution explains that: To carry out...

The government of Finland is discussing supporting Ukraine with part of the money from the liquidation of millions of dollars worth of cryptocurrency seized in crime investigations. Finnish authorities want to sell the bitcoins soon and say they couldn’t come up with a better idea for the proceeds. Finland Selects Brokers to Sell $75 Million of Confiscated Crypto Authorities in Helsinki have recently chosen two brokers to organize the sale of over €71 million ($75 million) worth of bitcoin ( BTC ) in the coming weeks. The country owns the coins that have been sized by Finnish Customs in the course of investigations into drug trafficking and other crimes. The agency has signed two-year contracts with Coinmotion Oy and Tesseract Group Oy and plans to sell the crypto during the spring and early summer, Bloomberg reported, quoting an emailed statement. Out of 1,981 bitcoins held by the customs office, 1,890 will be released. Most of them have been confiscated in raids carried out befo...

In readiness for the imminent listing of our crypto currency, GMRX, we want to explain our philosophy and strategy and answer a number of questions and address some misconceptions about GAIMIN. Why has GAIMIN established a successful esports company – GAIMIN Gladiators? GAIMIN.IO Ltd (GAIMIN) is a UK and Swiss based gaming company focused on helping the gaming community monetise the computational power of their gaming PC. GAIMIN has created a decentralised data processing network harnessing under utilised processing power typically found in gaming PC’s to create a world-wide decentralised data processing network, delivering “supercomputer” performance. GAIMIN targets the PC gamer as this market segment has the high performance devices and from our research, we found a typical gamer only uses their computer for gaming 20% of the day, leaving the computer switched on for 80% of the day. When a gamer downloads the GAIMIN app and connects their device to the GAIMIN decentralised data p...

Collections of South Africa’s fine wines were recently sold as non-fungible tokens (NFTs) with one lot being sold for $79,000. Immediately following the auction, two lots were reportedly paid for using bitcoin. Lots Exceed Estimates Collections of fine wines made by some of South Africa’s leading producers have been sold as non-fungible tokens (NFTs) in what has been described as a first for the country’s wine industry. The auction, which was conducted by fine art auctioneer Strauss & Co, saw some lots, like Klein Constantia’s Vin de Constance vertical collection from 1986-2027, being sold for $79,000 (R1,251,800). Other lots that exceeded estimated prices include winemaker Meerlust’s “50-year vertical of their famous Rubicon,” which reached $68,000. Vilafonté Series C 2003-2027 topped $36,000, while Mullineux Olerasay 1-20 is reported to have garnered $20,000. The collection from Kanonkop Paul Sauer, 2000-2025, fetched $16,000. Securing South Africa’s Fine Wine Heritage Spe...

Following the confusion that surrounded initial reports, a senior staffer in the Central African Republic (CAR)’s presidency has now confirmed that bitcoin will become the country’s reference currency. First Country in Africa to Officially Adopt Bitcoin A press statement supposedly issued by the office of the Presidency of the Central African Republic (CAR) appeared to confirm reports by multiple media outlets suggesting that the bill passed by the National Assembly not only proposes to govern cryptocurrencies but recognizes bitcoin as a reference currency. In a statement posted on Facebook, Obed Namsio, the chief of staff, said President Faustin Archange Touadera’s government will support all necessary efforts that allow the country to “carry out this approach that places the Central Africa Republic on the map of the most courageous and visionary countries in the world.” Namsio said with this move the CAR had become the first country on the African continent to adopt bitcoin as ...

PRESS RELEASE. NEW YORK, April. 28, 2022 — VegaX Holdings (“VegaX”), the cryptocurrency index platform providing actionable cryptocurrency indexes and index-based asset management products for traditional investors globally, announced the company’s first partnership with institutional investment manager, UNCAP Investment Management, providing the fund with access to proprietary portfolio rebalancing tools and indexes to enhance investment returns from the cryptocurrency markets. VegaX clients are globally distributed, with a recent influx of new traditional funds and institutions actively seeking the firm’s crypto index products and technology. VegaX CEO, Sang Lee noted, “As the crypto market hit an all time high of USD $3 Trillion in 2021, traditional fund managers and institutions globally could no longer deny the importance of the asset class and the diversification potential that the crypto market provides. Sophisticated firms like UNCAP recognize the long term opportunities the...

Following a short-lived move above $4.50 on Wednesday, GMT was once again higher, and traded up by over 20% in today’s session. GRT was another big gainer in Thursday’s session, as it moved to a multi-week high, whilst CAKE rebounded after recent losses. The Graph (GRT) Newly formed GMT was undoubtedly today’s top gainer, climbing by over 20%, however due to its infancy in the markets, there is not enough history to support a true technical view of its price movement. However, another token with similar initials also conjured up double-digit gains on Thursday, and that is in fact GRT. GRT/USD rose to an intraday high of $0.4084 during today’s session, which saw its price up by over 11% earlier in the day. This peak follows on from a low of $0.3472 on Wednesday, which was close to its long-term support level of $0.3410. Bulls have since carried prices from support to a now resistance level of $0.4040, which has now held, as earlier gains have eased. GRT is now trading at $0.3779...

The world’s largest asset manager, Blackrock, has launched a blockchain exchange-traded fund (ETF). The fund, trading on the NYSE Arca, gives investors exposure to “companies that are involved in the development, innovation, and utilization of blockchain and crypto technologies.” Blackrock Debuts Blockchain ETF Blackrock, the world’s largest asset manager with $10 trillion in assets under management, announced the launch of its Ishares Blockchain and Tech ETF (ticker: IBLC) Wednesday. The new exchange-traded fund (ETF) is trading on the NYSE Arca. The asset manager explained: The Ishares Blockchain and Tech ETF seeks to track the investment results of an index composed of U.S. and non-U.S. companies that are involved in the development, innovation, and utilization of blockchain and crypto technologies. At the time of writing, the new blockchain ETF’s top holdings include Coinbase Global, Marathon Digital Holdings, Riot Blockchain, USD Cash, Galaxy Digital Holdings, Internation...

PRESS RELEASE. PLANET EARTH ( April 27, 2022) – Gala Games has teamed up with Endless AI to introduce Fuzzle– a first-of-its-kind “living” NFT collectable , simultaneously pushing the boundaries of conversational AI and blockchain gaming through a groundbreaking interactive entertainment experience with loads of utility. Fuzzles have come to explore Earth and learn all about its human inhabitants. Fuzzles’ superior artificial intelligence is accompanied, however, by a total naivety of Earth and its culture. Fuzzles say what’s on their mind, and will often inspire “What the fuzz!?” reactions. “Our mission is to make magical products that blow people’s minds,” said Michael Fox, CEO and Chief Creative Officer at Endless AI. “We see ourselves as pioneers navigating the uncharted worlds of blockchain-based entertainment and AI-enabled interactivity. With the “living” NFTs of Fuzzle, we’re just scratching the surface of what the future may hold. The possibilities are endless.” Eac...

Market uncertainty in crypto was once again higher on Thursday, as traders continue to anticipate next week’s Fed decision. Following a drop to a one-month low during Wednesday’s session, BTC rebounded, with prices now hovering below $40,000. ETH also rallied, attempting to break out of the $2,950 resistance level. Bitcoin BTC was back in the green on Thursday, as bulls bounced back following yesterday’s drop, which sent prices to a one-month low. Wednesday saw BTC /USD trade at a bottom of $38,555.90, however the momentum swung today, with prices hitting an intraday high of $39,798.51. This rebound saw the world’s largest cryptocurrency move past its long-term resistance level of $39,700, prior to tailing off. Gains eased as historic uncertainty crept up on bulls, with some opting to take profits for now, rather than attempting to break through $40,000. Looking at the chart, the 14-day RSI also broke through its own resistance of 43, after a brief stint below 40, and is now ...

Russian Ministry of Finance has accepted a number of crypto regulatory proposals submitted by the country’s law enforcement departments. They cover a range of related areas, including the seizure of digital assets and the reporting of information on cryptocurrency transactions. Finance Ministry of Russia Backs Regulations Proposed by Law Enforcement Agencies Russia’s Ministry of Finance (Minfin) has supported some regulatory ideas regarding cryptocurrencies put forward by the nation’s law enforcement services, the daily Izvestia unveiled this week. The ministry is responsible for drafting the legislation that will introduce comprehensive rules for the nation’s crypto space, which is only partially regulated at the moment. The new bill “On Digital Currency” is expected to be filed with the State Duma, the lower house of Russian parliament, in May. A number of government institutions have provided feedback and suggested amendments to the draft, including several relevant ministrie...

The Central Bank of Russia has recently proposed authorizing traditional stock exchanges to operate in the digital assets market. Industry watchers say the regulator aims to provide investors with an option to trade cryptocurrencies in a controlled environment. Russian Stock Exchanges to List Digital Financial Assets, Central Bank of Russia Suggests Stock exchanges and central clearing counterparties may be allowed to facilitate the trading of digital financial assets (DFAs), a collective term encompassing cryptocurrencies and tokens under current Russian law. The proposal was put forward by the Central Bank of Russia ( CBR ) at a meeting with exchanges, brokers, and information system operators, a group of entities to which crypto platforms pertain. Representatives of the Moscow Exchange, SPB Exchange, major brokers, and information system operators that have the right to issue digital financial assets met with Bank of Russia officials behind closed doors on Tuesday, the Kommersan...