Government-Backed Tokenized Gold With ‘Killer Features’

The Universal Protocol Alliance — a consortium of crypto firms comprising Bittrex Global, Ledger, CertiK, and Uphold —  has launched a token backed by the Western Australian government-owned Perth Mint. The tokens, dubbed ‘Universal Gold’ or UPXAU, can be purchased on Uphold and spent using the firm’s debit card. Investors can purchase UPXAU from $1 with no investment limits. Unlike mainstream gold products which often have 0.4% monthly custody fees, the token is free to hold. In a July 30 announcement, JP Thieriot, Uphold’s chief executive, said the token had…

XRP Is Up 30% and Has 30 New Whales

The number of accounts holding more than one million XRP has increased by 3.7% with 30 new whales appearing over the last two weeks, according to Santiment’s holder distribution chart.  These investors now hold between $240,000 and $2.4 million in XRP each, which has contributed to upwards pressure on price. After a fairly uninspiring few months, XRP has seen a price rise of over 30% from $0.19 to $0.25 in a fortnight. At least 30 big investors with deep pockets believe the price rise is set to continue. XRP Holder…

Russian Interest in Paxful’s P2P Platform Surges 350%

Data from Bitcoin (BTC) marketplace Paxful shows a huge surge of interest in cryptocurrency peer-to-peer trading in Russia, with 350% growth on a year-over-year (YoY) basis. According to the study, from the period of May 2019 to May 2020, Paxful is now seeing an average monthly trading volume of $4M in Russia. The company says that this number “exceeds expectations,” together with the YoY usage increase figures. The last three-months saw a 42% increase, with May recording the best monthly performance amid the COVID-19 pandemic. The virus is one of…

The Future of Crypto Mining is All About Computing Power, Says RRMine Global CEO

RRMine Global CEO, Steve Tsou, said at a Cointelegraph China Great Bay Area International Blockchain Week pre-event interview on July 29 that the future of crypto mining will transit from labor-intensive companies to technology-intensive and capital-intensive companies. It will be all about computing power. Computer power and the digital economy With the rapid development of new generation information technologies such as 5G, big data and cloud computing, the demand for computing power will likely increase. Tsou believes that a computing power revolution is imperative. He continued:  “Therefore, as a new…

Binance Confirms Crypto Debit Cards Shipping to Europe

Binance has confirmed the shipping of its crypto debit cards to Europe following a tweet from Binance CEO Changpeng Zhao, or CZ, several days ago. “We began shipping a limited quantity of Binance Cards on July 24,” a Binance representative told Cointelegraph in a July 27 email. “The cards are being shipped to users in European Economic Area,” the representative added.   CZ posted on social media about the card shipments CZ tweeted the news out in an unofficial capacity on July 25. “This started shipping in limited quantities as…

Fan Token Platform Socios Secures Key Regulatory License

Socios.com, a blockchain startup aiming to tokenize the sports industry, has secured a major regulatory license allowing it to issue its own payments and loyalty card. Issued by the Estonian Financial Intelligence Unit, or FIU, the new license has been granted to the new Estonia-based entity called Socios Entertainment OU. Announcing the news on July 30, Socios’ partner project Chiliz.net noted that the FIU is the responsible authority for licensing crypto-related firms in the country. Socios’ prepaid fiat-crypto card is “due in the very near future” The new license allows…

Australian Watchdog Issues Warning on Fake Celebrity-Endorsed Crypto Ads

The Australian Securities and Investments Commission, or ASIC, is asking people to remain cautious about celebrity-endorsed Bitcoin (BTC) scam sites. According to the commission’s public warning, the Australian watchdog has received a number of reports of fraudulent crypto sites that claim to be endorsed by prominent businesses, new sites, and government agencies. Some even appear to have the endorsement of national celebrities like Waleed Aly, Mike Baird, Dick Smith, and Virginia Trioli. Crypto bot scams are active in Australia The ASIC outlined a number of examples as part of their…

Zcash Company Confirms ‘Crypto in Context’ Program as Global Effort

The Electric Coin Company, or ECC, the company overseeing privacy coin Zcash (ZEC), recently unveiled a crypto and financial educational movement called the Crypto in Context program.  “It is a global effort,” the ECC’s growth vice president, Josh Swihart, confirmed to Cointelegraph in a July 29 email. “We’ve already supported pilots for Syrian refugees in Turkey, for Arabic speakers across Europe and the Middle East, and for students in Nigeria,” he added. The movement already has sizeable players on board  In a July 29 blog post, the ECC announced the…

Five Years Later, the Ethereum DApp Ecosystem Looks Exactly as Predicted

Ethereum’s fifth anniversary from the mainnet launch is upon us, marking an important milestone in the long history of the first smart contract platform to reach significant adoption. Following the initial coin offering mania, today’s main narrative behind Ethereum is decentralized finance, an ecosystem that seeks to recreate the financial system from scratch on the blockchain. Ever since Ethereum’s founding, the application layer has been at the center of its value proposition. In a 2014 interview, Ethereum’s co-founder Vitalik Buterin illustrated that Ethereum is not just about the Ether currency,…

When Robinhood FOMO? Bitcoin Price Pulling a ‘Kodak’ Means Six Figures

Retail traders on Robinhood have been increasingly seeing “fear of missing out” or FOMO rallies around certain stocks. The latest beneficiary has been the stock price of the renowned camera manufacturer Kodak (KODK) whose stock surged from $2 to $60 in one day.  Therefore, given the current climate of economic uncertainty and “infinite QE,” if the optimism around risk-assets flows over to Bitcoin, chances of a similar rally for BTC price — as some analysts are currently predicting — certainly increase. Moreover, following the Federal Reserve’s FOMC meeting on July…