US state dept urges El Salvador to be ‘responsible’ about Bitcoin adoption

The U.S. Department of State’s Under Secretary of State for Political Affairs Victoria Nuland said El Salvador should ensure Bitcoin is well regulated under its new legal framework. In a Wednesday press conference following a meeting with President Nayib Bukele, Nuland said the United States was taking a “tough look at Bitcoin” following the ransomware attack on the Colonial Pipeline and suggested El Salvador take a similar approach. The country passed a law in June making Bitcoin (BTC) legal tender, legislation that will go into effect on Sept. 7. “I…

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Bull Signal From Bitcoin Bottom Is Best Hope Yet For Continuation

Bitcoin price continues to struggle to regain any type of bullish momentum, and keeps grinding at repeatedly tested support. In the past, when this happens, the support ultimately breaks down and a cascade of liquidations begin. However, there’s a bullish signal brewing that is thus far the best hope for further continuation to the upside. The reason for the hope, is because the last time Bitcoin gave such a signal, it was the bear market bottom and that support eventually held for good. Could it happen again during the bull…

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3 reasons why analysts are turning bullish on Curve Finance (CRV)

Choppy markets after a major pullback offer ample time to take a survey of the cryptocurrency landscape and find solid projects with improving fundamentals that have caught the attention of analysts and tokenholders.  One project that has piqued the interest of many, including researchers at Delphi Digital, is Curve Finance, a decentralized exchange for stablecoins that focuses on providing on-chain liquidity using advanced bonding curves. CRV/USDT 4-hour chart. Source: TradingView Three reasons why Curve DAO Token (CRV) is attracting the attention of analysts include attractive yields offered to tokenholders who…

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Blockware Mining raises $25 million to triple hash rate from Kentucky facility

Blockware announced Thursday that they have raised $25M in a second oversubscribed fundraising round. They plan to use the funds to expand their bitcoin mining operations in Kentucky, and will also install 8,000 more bitcoin mining rigs on its Paducah campus, where it recently purchased 5 acres of land. The company has already purchased the necessary rigs, and 6,000 more that it has slotted for resale operations to other miners. Funds from previous seed rounds paid for the purchase of all 14,000 rigs. “Currently, only an estimated 10% of the…

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1inch to launch dollar-pegged stablecoin with ICHI

Decentralized exchange aggregator 1inch has partnered with the ICHI platform to issue a new stablecoin pegged to the U.S. dollar. In a Thursday announcement, 1inch said it planned to mint a stablecoin “with a blend” of its native 1INCH token and USD Coin (USDC) through ICHI’s Decentralized Monetary Authority, or DMA. The new one1INCH stablecoin — all issuers on ICHI begin with the prefix “one,” referring to its Japanese namesake — is aimed at providing a medium of exchange to pay operating expenses, provide liquidity, and distribute liquidity rewards. “The…

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Enjin’s EFI token sale nets $20 million as NFT aspirations grow

A public sale of EFI token on CoinList netted Enjin $20 million in proceeds, setting the stage for a successful launch of a nonfungible token, or NFT, network on Polkadot.  A total of 40,089 users participated in the token sale, which closed in just two-and-a-half hours, Enjin announced Thursday. Over 600,000 users had registered for the sale, making it oversubscribed by 15 times. With the sale, Enjin has now raised $38.9 million in support of Efinity, the Polkadot-based blockchain for the NFT industry. Enjin’s first EFI raise netted the blockchain…

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Bulls and bears fight over $34K Bitcoin price as $445M options expiry looms

Bitcoin (BTC) has been ranging from $30,400 to 36,400 for the last 12 days, and it has been difficult to pinpoint the exact reason for investors’ lack of appetite. Some analysts have pointed to the Grayscale Bitcoin Trust (GBTC) unlocking in mid-July finally giving institutional investors a chance to offload their funds, but this is not likely to be the main reason. Meanwhile, industry leaders have suggested that the “crypto regulatory crackdown” taking shape in the United States is severely impacting investors’ sentiment, and this view is especially problematic considering China has recently…

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Facing $70M in fines from regulators, Robinhood files for IPO

Stock and cryptocurrency trading app Robinhood has filed an application with the U.S. Securities and Exchange Commission for an initial public offering. In a Form S-1 registration statement filed Thursday with the SEC, Robinhood said it intended to move forward with an initial public offering its Class A common stock. If approved, the company said it plans to trade using the ticker “HOOD” on the Nasdaq and raise $100 million in the debut. The trading app had said it was planning to go public last month but postponed the offering…

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$30B ADA now staked as Alonzo smart contract excitement builds

More than $30 billion worth of Cardano’s ADA has been staked in anticipation of a major milestone in the network’s evolution — one that could set the stage for wider network adoption and a more considerable price appreciation for the cryptocurrency. Roughly 71.7% of ADA’s circulating supply, worth roughly $31 billion at today’s prices, have been staked across 2,665 active pools, according to data provider PoolTool. On Thursday, the price of ADA was $1.34, having gained 4%. At current values, ADA is the fifth-largest cryptocurrency by market capitalization. Cardano remains…

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Study names United States ‘most crypto-ready’ country

Despite not having a clear regulatory framework on cryptocurrencies, the United States has positioned itself as the “most crypto-ready” nation in the world based on several key metrics, such as Google searches, crypto ATM saturation and legislation.  The 2021 Crypto-Ready Index, courtesy of research firm Crypto Head, gave the United States a top score of 7.13 out of 10. “In terms of crypto ATMs, the USA is leading the way with over 17,000 which is by far the most in the world, as the next closest country has around 16,000…

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