Cryptocurrency & Financial

Markets News & Stats

22nd Nov 2021

Today I talk about the following:

1. Our Portfolios performances

2. ConstitutionDAO had raised over $45 million for the auction, but was unable to compete against Griffin’s final bid due to hidden expenses such as Sotheby’s auction fee of 13.9% and the costs to preserve and transport the historic document. This caused confusion and frustration, as some felt the DAO had not been transparent enough with its contributors and closed fundraising too early. Now that the auction is over, ConstitutionDAO is fracturing. Some members are demanding refunds while others are urging the DAO to pursue a new project with all that capital. Since it began, ConstitutionDAO has maintained that if it lost the auction, all contributors would be refunded. What many donors new to the Ethereum ecosystem didn’t realize, however, was that the network’s high gas fees meant no one would see their full donation amount returned.

3. A California man who in February agreed to plead guilty to felony charges of money laundering and operating a crypto exchange without proper licensure has been sentenced to three years in federal prison, according to a release from the U.S. Department of Justice

4.Quidd, a marketplace for digital collectibles and a subsidiary of Animoca Brands, has raised a total of $5 million in private pre-sales and an initial DEX offering (IDO). The token sale took place on Polkadot project incubator Polkastarter on Nov. 18. The allotment of 2 million QUIDD tokens at a price of US$0.25 per token sold out in under an hour, raising $500,000.https://cointelegraph.com/news/animoca-brands-raises-5m-for-nft-marketplace-quidd

5. The United States military continues to explore blockchain technology to improve its processes. The U.S. Navy has signed a $1.5-million contract with Consensus Networks to develop a blockchain-enabled logistics system named HealthNet back in May. The project, built on Internet of Things-focused blockchain IoTeX, is halfway complete, counting the days for its pilot scheduled for early 2022. https://cointelegraph.com/news/us-navy-to-pilot-blockchain-based-project-to-improve-medical-supply-lines

6. On 19 November, 2021 Senator Cynthia Lummis promised to make sure that the bill’s tax reporting requirements would be “clear.” She acknowledged the need for consumer protection but also warned against “stifling innovation.”

https://ambcrypto.com/senator-assures-there-will-be-clarity-in-us-infra-bills-tax-reporting-requirements/

7.Bitcoin continues to drift below $60,000 amid positive action in U.S. stock futures. El Salvador's announcement of plans to issue bitcoin-backed bonds to fund the construction of the world's first Bitcoin City along the Gulf of Fonseca near a volcano failed to inspire buying over the weekend https://cointelegraph.com/news/el-salvador-to-inaugurate-bitcoin-city-backed-by-1b-bitcoin-bonds

The only country in which bitcoin is legal tender, El Salvador, is set to build an entire city based on the flagship cryptocurrency, according to President Nayib Bukele. The ‘Bitcoin City’ will be located along the Gulf of Fonseca near a volcano.

8. venezuelans-promised-axie-infinity-scholarships-for-crypto-training-courses

The initiative is a part of the La Guaira Digital program, which aims to fast-track growth and induce economic stability in the country. A gubernatorial candidate from Venezuela has promised to offer scholarships for citizens interested to join the Technical Training Center for Mining and Administration of Digital Crypto Assets.

José Alejandro Terán, the aspiring governor who represents the country’s ruling party, started the initiative as a part of the La Guaira Digital program, which aims to fast-track growth and induce economic stability in the country.

9. Binance has announced it completed its integration of Arbitrum One, an Ethereum layer-2 network developed by Offchain Labs. The integration works for Ethereum (ETH) deposits, and allows Binance users to directly deposit their funds without using the Arbitrum bridge.

10. Bitpanda, an Austrian cryptocurrency exchange, announced Monday that its digital asset investment product is now completely integrated with Lydia, a French mobile payment app.

With the integration, Lydia consumers will be given access to over 170 digital assets, including cryptocurrencies, commission-free fractional stocks, exchange-traded funds, and precious metals.

The partnership with Lydia strengthens Bitpanda's objectives in France, according to Eric Demuth, co-founder of Bitpanda.

11. https://financefeeds.com/bitso-partners-circle-us-mexico-payments-corridor/

The opportunity for Circle and USDC to be part of making cross-border exchanges seamless between the U.S. and Mexico — the world’s largest exchange corridor — is tremendous.

12. CRO, the native token of the Crypto.com exchange, soared to a record high after the launch of the Cronos protocol and the announcement of a 20-year agreement to rename the Staples Centre the Crypto.com Arena.

Crypto.com was created as Monaco Technologies in June 2016 by co-founders Kris Marszalek, Rafael Melo, Gary Or and Bobby Bao. CRO went live in late 2018. The coin forms the basis for Crypto.com’s financial services, including its cryptocurrency exchange, payments app and Visa credit card. Holders of CRO can stake their coins to act as validators on the blockchain and earn fees for processing network transactions. They can use CRO to settle transaction fees and earn cashback through the payments app and credit card. The price of CRO has been rising since the end of October, ahead of the launch on 8 November of the mainnet of Cronos, its Ethereum Virtual Machine (EVM) compatible network for decentralised finance (DeFi), non-fungible tokens (NFTs) and the metaverse.

The Cronos network runs alongside the Crypto.com blockchain and, according to the Cronos blog, “aims to massively scale the DeFi and decentralised application ecosystem, by providing developers with the ability to instantly port apps from Ethereum and EVM-compatible chains.

“With low cost, high throughput, fast finality, and built-in interoperability, Cronos is poised to bring decentralised applications to the 10M+ user base of the Crypto.com ecosystem and beyond.”

Cronos uses the Cosmos software development kit (SDK) to build in interoperability and bridging to the Crypto.org blockchain and other chains with Inter-Blockchain Communications (IBC) enabled.

Network fees for on-chain transactions are paid with CRO, the platform’s native token. The growth of the Cronos ecosystem will increase the use of the token beyond the Crypto.org blockchain and Crypto.com applications.

Users can bridge certain coins from the Crypto.com app and exchange by selecting the Cronos network when depositing and withdrawing coins, and from the Crypto.org chain to Cronos via the IBC channel. Support for more IBC channels from other Cosmos-based chains to Cronos is expected in December or January, including support for a bridge from Ethereum to Cronos.

On 19 November, the Crypto.com exchange addedsupport for deposits and withdrawals of ether via Polygon, in addition to the Cronos, Arbitrum, BEP20 and ERC-20 networks. https://ambcrypto.com/crypto-com-adds-polygon-support-for-ethereum-deposits-and-withdrawals/

Crypto.com launched its NFT platform in March this year, and announced on 3 November that the Philadelphia 76ers basketball team and the Ultimate Fighting Championship (UFC) were launching collections on the marketplace.

https://coinquora.com/crypto-com-launches-innovative-otc-solution-for-institutional-and-vip-clients/

CRO launched the OTC portal institutional and VIP investors.
Crypto.com OTC portal enables generating quotes within seconds.
In detail, the Crypto.com exchange launched an OTC portal for institutional and VIP investors of the exchange. This feature of the exchange provides a large volume of traders to buy and sell trading pairs at a pre-approved price using the network’s back-end quoting engine. In addition, the quoting engine can provide a quote within seconds. Kris Marszalek, Co-Founder and CEO of Crypto.com explained:

We are excited to launch our OTC solution for Institutional and VIP clients, allowing them to easily execute block trades and capture market opportunities more efficiently.

the stadium. At the time of writing, CRO trades at a bullish price of $.67 per crypto with a market capitalization of over $17 billion.

moment, CRO has been one of the best performers in the market.

13. ked/124995/celo-startup-clabs-alleges-misconduct-after-top-developer-exits

14. Elliptic, a risk management business, estimates that DeFi users have lost $10.5 billion to theft and fraud in 2021, up from $1.5 billion in the previous year.

The vast majority of losses from the previous two years have come from Ethereum (ETH), the home of decentralized finance, amounting to $8.6 billion.

15. Crypto Lender Celsius Network Invests $300M in North American Bitcoin Mining Operations: Report (coindesk.com)

16. https://financefeeds.com/jp-morgan-if-ripple-wins-sec-lawsuit-xrp-is-poised-for-significant-adoption/

17.Ethereum, which was once the pride of blockchain and what all could be done on it, is now fast losing ground to other competitors like Solana, Avalanche, and other Layer 1 protocols which seemingly address everything that Ethereum seems to be suffering from.

18.Celsius Network has doubled down on its Bitcoin mining investment, adding a further $300 million. This $300 million investment follows the $200 million that Celsius invested earlier this year in Bitcoin mining equipment and equity of Bitcoin mining firms Core Scientific, Rhodium Enterprises and mining pool Luxor Technologies. Core Scientific is going through a merger deal with the goal of going public, while Rhodium has filed for a U.S. initial public offering for a placeholder amount of $100 million. https://ww