Kusama (KSM) price hits new highs as parachain auctions begin to take shape

Major protocol upgrades are one of the most potent sources of price movement for cryptocurrency projects as community members and investors get excited about new features and traders rush in to “buy the rumor and sell the news”.  One protocol that has seen its price rise to new rights this week despite the overall bearish conditions affecting the market is Kusama (KSM), an experimental blockchain platform and a sister chain to the Polkadot’s platform. Kusama is designed to provide an interoperable and scalable framework for developers. Data from Cointelegraph Markets…

Crypto industry brass explains harnessing renewable energy could help BTC miners

The energy consumed by mining — the process that keeps Bitcoin’s blockchain running — has been an increasingly popular topic of discussion in recent weeks. On Friday, CNBC posted an interview with SUKU CEO Yonathan Lapchik, during which he explained the Bitcoin mining scene as it relates to renewable energy. The interviewer noted Lapchik previously claimed that 75% of Bitcoin mining comes from renewable energy. “We think that 75% is an actual figure,” Lapchik told CNBC, “The miners are truly incentivized to use renewable energy.” Turning his thoughts to electric…

Chance of a price crash increases as Cardano (ADA) futures near $1B

Cardano’s (ADA) impressive 816% gain in 2021 catapulted the smart-contract platform’s market capitalization to $61 billion. To fully grasp how far this third-generation protocol has gone, the absolute leader, Ether (ETH), held the same valuation just six months ago. As Cardano’s price evolves, so do its derivatives markets, and the nearly $1 billion futures open interest poses both an opportunity and a threat for the price. Cautious investors will now question whether the $200 billion in potential liquidations are around the corner, drawing similarities to the 23% crash that occurred…

Delphi Digital forms $5 million NFT investment ‘syndicate’

Delphi Digital, a multi-service cryptocurrency investment, consulting, and research firm, has announced today the launch of “Delphi INFINFT,” a new investment wing focused on NFTs and the NFT ecosystem. Per a post of Twitter, the fund will invest upwards of $5 million into “NFT marketplaces, DAOs, social tokens, fractionalization, NFT infrastructure, and any other new developments that may arise during the syndicate’s investment cycle,” and the team will be bolstered by noted NFT collector “gmoney.” 0/ Our team is thrilled to announce the launch of the world’s first on-chain NFT…

Square not revisiting its Bitcoin allocation, but still interested in the asset

Over the course of 2020 and 2021, Square bought over $200 million worth of Bitcoin. At present, the payments company does not anticipate picking up more of the asset, according to its chief financial officer, Amrita Ahuja.  In an interview with Financial News, reported on Friday, Ahuja said: “We don’t have any plans at this point to make further purchases.” She added: “There’s no plans at this point to re-evaluate where we are from a treasury standpoint.” Cointelegraph reached out to Square for additional comments, but did not receive a…

Argentina’s tax body reportedly asks crypto firms to report all activity

A tax authority in Argentina is reportedly looking to scrutinize operations involving cryptocurrencies like Bitcoin (BTC). Argentina’s Federal Administration of Public Income, or AFIP, has ordered domestic crypto exchanges and payment firms to provide monthly reports of all kinds of operations by users on their platforms, local news agency Buenos Aires Económico reports Tuesday. In a notice to local crypto firms, the authority asked virtual currency service providers to maintain regular lists of all user accounts and identity verifications of clients, as well as their income, expenses, and monthly balance.…

As Bitcoin price staggers, ‘whale’ wallets may be becoming an endangered species

As Bitcoin looks to recover from a stomach-churning dip on the back of a strong bid this morning, on-chain data indicates that high net worth ‘whale’ wallets may not be part of the effort.  Bitcoin — along with most crypto markets — suffered a staggering series of losses this week following a string of negative Tweets from the world’s second-richest man, Elon Musk. Tesla & Bitcoin pic.twitter.com/YSswJmVZhP — Elon Musk (@elonmusk) May 12, 2021 While prices have begun to rebound, “whale” wallets — a playful term for Bitcoin addresses with…

Crypto currently is comparable to the early days of cell phones, Coinbase President says

In terms of adoption, products and services, the crypto industry has come a long way since Bitcoin’s launch in 2009. Emilie Choi, Coinbase’s president and chief operating officer, however, still said crypto usage needs to be easier.  “It’s about, you know, how do we create the most user-friendly experiences for folks,” Choi told Bloomberg in a May 13 interview when asked about any notable uncertainties regarding crypto’s future. She added: “In many ways, I always kind of take the analogy of like the old mobile phones, right, that had these…

Capture the industry? Token IPOs aim for $200T global capital market

Earlier in May, INX Limited — a Gibraltar-based blockchain trading platform — announced the completion of its INX token sale event, which took place via an initial public offering. The event marked the first time that the United States Securities and Exchange Commission approved a crypto-asset IPO. The SEC has been consistent in its characterization of most crypto assets as securities. Indeed, this stance has been at the forefront of the commission’s campaign against startups that issued digital assets during the initial coin offering mania of 2017 and 2018. Regulated…