Ethereum News Daily Official TheBitTimes.com

Azteco raised $6 million in funding, with Block Inc. CEO Jack Dorsey leading the round. The Santa Monica, California-based company aims to accelerate Bitcoin adoption by introducing Bitcoin gift cards. Azteco’s mission to democratize finance Dorsey’s support for Azteco stems from a deep respect for the company’s mission to make life easier for the unbanked population worldwide.  The former Twitter CEO believes that the technology and resources required to make this positive change are available, and Azteco is taking a crucial step in the right direction. Azteco’s core initiative revolves around introducing Bitcoin gift cards, designed to elevate the flagship crypto’s value to the level of traditional fiat currencies like the US dollar.  The ultimate goal is to democratize finance and establish partnerships with companies across the globe, ensuring that Bitcoin spending becomes a mainstream and widely accepted concept, according to Azteco CEO Akin Fern...

As per Eric Balchunas, a Bloomberg senior ETF analyst, Valkyrie has issued a 497, declaring that they won’t be buying any more Ethereum futures . Balchunas speculates that the United States Securities and Exchange Commission (SEC) might have influenced their decision to halt these purchases. The plot thickens, Valkyrie just put out 497 that they are in fact not going to buy Ether futures until they are live (prob Tue) and are going to sell the Eth futures they bought (in an effort to jump line a bit). SEC must have threatened them to cut it out. Damn. https://t.co/yDkggCw3d1 pic.twitter.com/cKaV7k7AJs — Eric Balchunas (@EricBalchunas) September 29, 2023 According to reports on Sep. 28, the Valkyrie Bitcoin Strategy exchange-traded fund (ETF) was reported to be adding exposure to Ethereum futures contracts, becoming the first American ETF to offer holders exposure to Ethereum and Bitcoin futures in one package.  Valkyrie was also the first company to receive appro...

Bloomberg analyst Eric Balchunas speculated the SEC may have applied pressure on Valkyrie to halt purchases of ETH futures contracts until the ETF was officially approved. Asset management firm Valkyrie has said it will hold out for the United States Securities and Exchange Commission (SEC) to approve an exchange-traded fund, or ETF, with exposure to Ether (ETH) futures rather than making purchases in advance. In a Sept. 29 filing with the SEC, Valkyrie said it will not make certain purchases “until the effectiveness of an amendment” reflecting ETH futures contracts as the ETF’s principal investment strategy. The firm told Cointelegraph on Sept. 28 that it planned to allow investors exposure to Ether and Bitcoin (BTC) under a combined Bitcoin and Ether Strategy ETF, with purchases planned ahead of a launch the first week of October. ‘[T]he Fund will unwind any existing positions in ether futures contracts,” said the SEC filing. The plot thickens, Valkyrie just put out 497 that they...

English Premier League football club Tottenham Hotspur is catching heat from fans after it announced a major new partnership deal with controversial fan token creator Socios, reports The Times. According to the club, the team-up will “provide fans worldwide with access to a unique range of club-related activities, rewards and experiences.” Tokens will reportedly be handed out for free to season ticket holders and club members, while non-members will have to pay $2 per coin. However, the Tottenham Hotspur Supporters’ Trust has voiced concerns that the project will not only be charging fans to engage with their club but will “encourage fans to enter a cryptocurrency ecosystem of which many will have little knowledge.” “It is important there should be no financial or technological barriers to fan engagement,” the trust says, “ yet this relationship potentially creates both .” While potentially very lucrative, fan tokens, which give supporters the power to vote in club polls and enter...

Ethereum futures exchange-traded funds (ETFs) may launch next week, just before a potential U.S. Government shutdown, Bloomberg analysts note. On Sep. 28, Bloomberg Intelligence analyst James Seyffart revealed on X (formerly known as Twitter) that the U.S. Securities and Exchange Commission (SEC) might greenlight several Ethereum futures ETFs as early as next week. Looking like the SEC is gonna let a bunch #Ethereum futures ETFs go next week potentially https://t.co/YoBD1d1ay8 — James Seyffart (@JSeyff) September 28, 2023 Seyffart’s remarks came in response to fellow ETF analyst Eric Balchunas, who suggested that the SEC is keen to fast track approval. Balchunas added that the SEC aims to clear the Ether futures ETFs from its agenda before the potential U.S. government shutdown. He mentioned that various filers have been advised to update their documents by Friday afternoon to enable trading by Tuesday of the following week. The U.S. government might shut down at ...

After moving to nominated proof-of-stake, an RWA-focused blockchain platform has reached a notable milestone in its journey. Creditcoin, a pioneering platform for real-world asset innovations that enables unbanked consumers to build a credit history on Web3, has announced the launch of the latest upgrade of its mainnet. This new release upgrades the RWA-focused blockchain consensus to nominated proof-of-stake (NPoS) and aims to improve on-chain liquidity for both borrowers and fintech lenders, emphasizing the principles of auditability, transparency and trust. Proof-of-work (PoW) was the consensus mechanism that started it all — with Bitcoin (BTC) introducing the concept to millions when it launched back in 2009. But as concerns over electricity use and carbon emissions grow, many crypto projects are now seeking eco-friendly alternatives. In 2022, after years of complex technical work behind the scenes, Ethereum made the leap to proof-of-stake (PoS). At the time, developers said this ...

Spurs becomes the first Premier League team in two years to issue its own fan token on the Chiliz blockchain. Tottenham Hotspur will become the latest Premier League team to tap into blockchain technology to issue and manage its own Web3 fan token to drive supporter engagement and rewards. Spurs will issue the fan token through Socios.com, the fan engagement platform built on the Chiliz blockchain that has attracted over 80 major sporting teams from different codes around the world. The platform enables teams to issue and manage fan tokens, digital collectibles and real world rewards, while users can participate in DAO-like decisions involving their favourite teams. Related: From cricket to crypto: AB de Villiers ventures into Web3 Spurs join the likes of Premier League champions Manchester City, Arsenal Barcelona, Paris Saint-Germain, Juventus, Inter Milan, AC Milan,Atlético Madrid and A.S. Roma, which are some of the most prominent teams in professional football making use of block...

Bitcoin is still down 60% from its November 2021 all-time high so many traders are wondering if BTC price could crash further in the coming months. Bitcoin (BTC) is still in a bullish reversal when looking at this year's price chart. BTC price has gained 70% after bottoming out at around $16,800 in November 2022, defying rate hike fears while riding on growing ETF approval optimism.  However, in recent months, Bitcoin bulls have failed to sustain BTC price above $30,000. Therefore, with the "bullish" halving is still over 200 days away, many traders are wondering: is Bitcoin price going to cash again in the coming months?  Let's take a closer look at the possible scenarios as Q3 draws to a close. Fibonacci fractal hints at Bitcoin crash to $21,500 From a technical standpoint, Bitcoin price has stabilized around the 0.236 Fib line of its Fibonacci retracement graph drawn from the $69,000-swing high (the market top) to the $15,900-swing low (the local market bottom)...

Terra Labs founder Do Kwon asks a US federal court to reject the SEC’s request for extradition to bring him back to the US for testimony. The SEC is requesting to question him in the U.S. about the catastrophic crash of his company’s stablecoins Terra and Luna. According to a court filing in the U.S. District Court for the Southern District of New York, Kwon’s lawyers are against any opportunity for him to offer testimony to U.S. regulators. Kwon has been detained in Montenegro indefinitely since March. Therefore, the lawyers are suggesting it is “impossible” to bring Kwon back to the US. Source: Bloomberg Also Read: Swiss Authorities Freeze $26 Million in Crypto Linked to Do Kwon Additionally, Do Kwon ’s lawyers are also using his due process rights as a reason behind him not providing a written testimony instead. “An order mandating something that is impossible serves no practical purpose and risks undermining judicial autho...

Troubled crypto exchange Binance has sold its business in Russia to a brand-new crypto exchange named CommEX — but crypto sleuths were quick to point out that the exchange may still be run by Binance. This isn’t the first time Binance was forced out of a country by regulators, only to hand business off to a firm that appears to be in its pocket. Dutch users were told they could no longer use Binance in August, only to be heavily incentivized to use little-known, brand- new exchange Coinmerce instead. As Protos reported, Coinmerce has historically acted as a broker for Binance. Similarly, Binance has exited Russia following a report by Bloomberg that the exchange was under investigation by the US Department of Justice for violating sanctions. At the end of August, the Wall Street Journal (WSJ) also claimed the Crypto exchange was violating US sanctions for enabling “substantial” ruble trade volumes through sanctioned Russian banks. Hot on the heels of the...

Despite coming up short of his goal, crypto trader Thomas Kralow said the crypto-funded expedition was all about two things: “Bitcoin and happiness.” A Bitcoin proponent’s recent attempt to crypto trade his way from New York to Alaska has come to a sudden and bitter end — some 900 miles from his final destination.  Thomas Kralow, a crypto trade r and educator recently set himself the daring task of traveling from one side of the United States to the other funded solely by trading crypto. On Aug. 12, Kralow set out from New York with his assistant Ilya and an initial budget of $5,000 cash. The pair forked out some cash for a dinged-up Mercedes and set up a Starlink antenna on the back of the vehicle — with fast internet being a requirement for quick trade s — leaving them with just $2,500 to trade their way to Alaska. Unfortunately for Kralow, he never made it to his final destination — with his cheap vehicle grinding to a permanent halt in Seattle, just 12 days after starting the j...

Several members of the community believe that the growing adoption could put Shiba Inu on the path leading to $0.01. However, getting there will not be that easy. To pull off a ”rabbit out of the hat,” SHIB will have to delete multiple zeros. The overall utility of Shiba Inu and the demand-supply dynamics will also play a critical role in molding the long-term price of the asset. Also Read: Shiba Inu: A $1,000 Investment Turns to $15 Million in Sept. 2023 SHIB’s 1-cent target The SHIB Army strongly believed that SHIB could attain 1 cent in the future. A rise to this benchmark target would fetch investors an ROI of 137,451.6% from the current price. A recent Analysis of the burn rate suggested that investors could have to wait for roughly 46,296 years for the asset to eventually attain this target. To reach a price of $0.01, SHIB’s market cap will have to inflate to around $6 trillion. This means SHIB will have to individually grow to become six t...

Author: Loki Source: https://mirror.xyz/lokiz.eth/w1WKevEM3AAHaS-eDXIiRPU0DtzY6TCiQ_a8eX3tlIA I. How to Create a Successful Ponzi Social Product The Friend.tech economic model seems straightforward: 1. The Key price increases with quantity. 2. A 10% transaction fee is charged, shared equally between the protocol and Key issuer. 3. Points are distributed to users over the next 6 months. Understanding the economic model is best done by putting yourself in the shoes of the project team: “If I were designing the economic model, how would I do it?” The starting point is to create a SocialFi product, but past experiences and the current market’s liquidity condition make optimism difficult. Thus, you aim to create a product with some Ponzi attributes to jumpstart it. (1) What Does (S²) / 16000 Mean? The core of Ponzi is to let early entrants profit. Consider that all users enter one by one; considering S can only be an integer, we should use differences and sums. It can be seen that ΔP/ΔS is ...