Top Russian bank Sberbank plans to launch its stablecoin by spring 2021
Sberbank, the largest state-owned bank in Russia, has reportedly filed an application with the Bank of Russia to launch a blockchain platform for its “Sbercoin” stablecoin. Sergey Popov, director of the transaction business at Sberbank, announced the news on Jan. 21 at a local financial event Russian news agency Interfax reports. At “Digital transformation and prospects for regulating the digital economy,” Popov said that Sberbank applied with the central bank in early January, explaining that the registration procedure usually takes no longer than 45 days. As such, the bank may launch its platform and stablecoin by the spring this year, the official said. However, Sberbank is still working out how to tax Sbercoin:
Helen Partz 23:36
More institutions will warm up to crypto once market cap hits $2T: eToro
A new report from advisory firm Aite Group, that was commissioned by exchange platform eToro, reveals there are still barriers hindering institutional adoption of crypto. Based on interviews with 25 institutional market participants, the report states the crypto market could reach a $2 trillion market capitalization if more institutional players were to get on board amid more favorable conditions. These firms would be more likely to adopt crypto if there was less regulatory uncertainty, a developed market infrastructure, and less risk surrounding security. “2020 was the year when many institutional investors such as banks and traditional asset managers began to either invest in crypto or seriously consider doing so, with several touting the asset class — particularly Bitcoin — as an inflation hedge,” said eToro head of business development Tomer Niv.
Turner Wright 23:34
Russian court order removes Binance website from regulator’s blacklist
The website of the world’s largest cryptocurrency exchange, Binance, is no longer formally blacklisted in Russia, according to a new court ruling. According to a Jan. 21 report by Russian news agency Kommersant, the Arkhangelsk Regional Court has annulled a previous decision to blacklist the Binance website in Russia. Gleb Kostarev, Binance’s head of operations for Russia and the CIS, confirmed the news to Cointelegraph, stating that the court hearing took place on Jan. 20. The latest court decision reverts a previous ruling made in 2020. In September, Binance announced that its website came on the list of prohibited websites by Russian telecom regulator Roskomnadzor. The regulator blacklisted the website based on a court decision charging the site for disseminating prohibited information. Despite the block, the website was still available in Russia without additional access tools like VPNs.
Helen Partz 23:32
Chinese cities continue to promote digital yuan through festive lotteries
Residents of the Longhua District in the Chinese city of Shenzhen will have a chance to participate in a forthcoming lottery event that aims to encourage the adoption of the country's new central bank digital currency — known alternatively as the DC/EP, digital renminbi, or digital yuan. Announced on Jan. 20, the lottery is scheduled for Jan. 26, when lots will be drawn to select the 100,000 winners who will each receive a festive "red envelope" packet containing 200 yuan ($31) in DC/EP. The total currency issued and distributed for the event will therefore amount to 20 million yuan ($3.1 million) in value. Two stipulations have been set for those residents who wish to take part in the lottery: they must have purchased social insurance from the commercial entities they work for and have definite plans to stay in the city during the forthcoming Lunar New Year holiday, also known as the Spring Festival.
Marie Huillet 23:29
Bitcoin double-spend spotted in the wild
BitMEX Research has identified a suspected double-spend transaction valued at 0.00062063 BTC or roughly $21 — and it doesn’t appear to be an instance of that popular replace-by-fee wallet hack. On Jan. 20, BitMEX’s ForkMonitor noted that “multiple blocks were produced at height 666833.” BitMEX Research tweeted: [1/2] There was a stale Bitcoin block today, at height 666,833. SlushPool has beaten F2Pool in a race.It appears as if a small double spend of around 0.00062063 BTC ($21) was detectedhttps://t.co/o8lz9xagYG pic.twitter.com/IEdPu8JEjt
Samuel Haig 23:27
Kyber plans to become a hub for DeFi with massive DEX upgrade
Kyber Network (KNC), a decentralized exchange platform and aggregator on Ethereum, announced plans for Kyber 3.0, a complete overhaul of its platform. With the 3.0 release, Kyber will transition to become a network of specialized liquidity pools, similar to how different exchanges optimize for different kinds of assets. For example, Kyber 3.0 will allow very high amplification factors for pairs between different wrappers of the same asset, similar to Curve. The team says this would allow a 100-fold improvement to slippage. Other, less stable pairs like Bitcoin (BTC) to Ether (ETH), would be able to benefit from a five-to-ten-fold improvement in capital efficiency. The optimization is achieved by implementing dynamic market makers, or DMMs. This iteration on the original concept allows fine-tuned adjustments to the key parameters of a liquidity pool. Creators will be able to customize the pool’s relative weights of each asset — similar to Balancer — and set a custom amplification factor to reduce slippage.
Andrey Shevchenko 23:25
Early Ether investor sells all his ETH, plans to buy parents a house
A Redditor named “u/FollowMe22”, 27, says he has finally sold off the last of his Ether (ETH) stash acquired back in 2016. According to the Reddit post, he began buying ETH back in 2016 when the price was slightly above $2, adding: The Redditor said that he sold off a “large chunk” of his Ether “coins” during the 2017 bull run. However, he held on to the remaining ETH until January 2021. Another Redditor on the thread unearthed the first-ever post from the u/FollowMe22’s account detailing the latter’s initial intention to buy and hold ETH for the long-term, stating:
Osato Avan-Nomayo 23:22
Guggenheim CIO expects Bitcoin to drop to $20,000
A senior executive at financial services firm Guggenheim Partners — which is planning to seek investment exposure to Bitcoin (BTC) — has argued that BTC is poised to drop to $20,000. Scott Minerd, Guggenheim’s chief investment officer, believes that Bitcoin will not hit another all-time high in 2021, according to a Jan. 21 episode of CNBC's Closing Bell. After hitting $42,000 price level on Jan. 8, Bitcoin is unlikely to climb any higher until 2022, Minerd said:
Helen Partz 23:20
BitMEX operator joins digital finance standards and advocacy organization
100x Group, BitMEX’s parent company and the holding structure for its platform, has joined Global Digital Finance, or GDF, a major industry association advocating for the adoption of digital assets. As a GDF patron board member, 100x will advocate for a more inclusive and better regulated digital financial system, BitMEX announced on Jan. 21. The new partnership with GDF extends 100x’s efforts to promote collaboration between the public and private sectors to drive mainstream adoption of crypto. “Greater public-private collaboration is the only way to realise the wide-scale adoption of digital assets and we will be championing an advance in industry-wide operational standards and governance,” 100x Group CEO Alexander Höptner said. GDF was launched in March 2018 with a mission to convene both the crypto assets industry and financial services professionals and regulators to build an efficient and transparent ecosystem for each type of digital asset. The association has so far secured a number of high-profile members from the industry including Coinbase, ConsenSys and Huobi. Malcolm Wright, 100x’s chief compliance officer, joined the GDF previously in 2018, and is a chair of its advisory council and co-chair of the GDF Anti-Money Laundering working group.
Helen Partz 23:18
Craig Wright ultimatum: Take ‘my’ Bitcoin whitepaper down or face lawsuit
Craig Wright, the Australian computer scientist who claims to be Bitcoin inventor Satoshi Nakamoto, has threatened legal action against the owners of two Bitcoin (BTC) websites whom he accused of stealing his whitepaper and other intellectual property. As announced on Jan. 21, Bitcoin.org along with another website, Bitcoincore.org, had received allegations of copyright infringement from Craig Wright’s lawyers. The counsel reportedly claimed that Wright, as Bitcoin inventor Satoshi Nakamoto, was the legal copyright holder of the Bitcoin whitepaper, that he owned the Bitcoin name and trademark, as well as the two websites listed above. The announcement stated: The announcement continues, “They also claim he is Satoshi Nakamoto, the pseudonymous creator of Bitcoin, and the original owner of bitcoin.org. Bitcoin.org and Bitcoincore.org were both asked to take down the whitepaper. We believe these claims are without merit, and refuse to do so.”
Greg Thomson 23:15
Older investors are getting into crypto, new survey finds
Older generations have started recognizing the potential of cryptocurrencies and blockchain in global payment systems, a new survey says. On Jan. 21, digital payment platform Wirex released a special report devoted to the topic of cryptocurrency adoption in 2021. Compiled in partnership with the Stellar Development Foundation, the report includes survey results from 3,834 people across 89 countries, aiming to understand the latest trends in the global adoption of blockchain-powered digital payments. The survey was conducted over the course of three weeks, with both Wirex and the SDF sending out emails asking for voluntary participation in a survey related to the use of cross-border transactions. Total responses included 81% European residents and 17% participants from the Asia Pacific region.
Helen Partz 23:13
Ethereum network's hashrate is 323,384.36 GH/s，mining difficulty is 4,293.90T
According to data from eth.btc.com，ethereum network's hashrate is323,384.36 GH/s，mining difficulty is4,293.90T. ETH's price ：$ 1,252.88 Avg Gas Price：61.00Gwei Pending Txs ：160690
Bitcoin network's hashrate is144.48EH/s，mining difficulty is20.61T
According to data from BTC.com，bitcoin network's hashrate is144.48EH/s，mining difficulty is20.61T. Next Difficulty Estimated：(+1.71%)20.96T Date to Next Difficulty：2Days0Hours Unconfirmed Txs：50,149
Announcement | EOS wallet import function has been upgraded and is now available for use
TokenPocket has completed the optimization and upgrade of the EOS wallet import function, and now it can be used normally. Thank you for your understanding and support to TokenPocket wallet.
Announcement|Notice of suspension of EOS wallet importing
TokenPocket is currently optimizing and upgrading the function of importing wallets. Please do not import EOS wallets for the time being. This service upgrade is expected to take 5 hours, and we will notify you as soon as the upgrade is completed. Thank you for your understanding and support of TokenPocket wallet!
Arbitrage traders make 10x returns on new DeFi platform for wrapped assets
A recently launched decentralized finance platform, Saddle Finance, has netted one particular trader a more than 10x return on an arbitrage trade between different permutations of synthetic Bitcoin (BTC). According to transaction data from Etherscan, a user swapped 0.34 sBTC, Synthetix’s Bitcoin-based token, in exchange for 4.36 Wrapped Bitcoin, a custodial wrapper offered by BitGo. The trade offered an almost 13x return on investment, netting $150,000 to the trader. Two other similar transactions were registered on the platform, as noted by the analyst Igor Igamberdiev. One transaction swapped 0.09 tBTC for 3.2 WBTC, an even higher return of 35x.
Andrey Shevchenko 23:39
Ether could be heading for $10.5K, says Fundstrat strategist
After hitting a new all-time high, the Ether (ETH) price could potentially head to $10,500, according to a strategist at major market research company Fundstrat Global Advisors. Fundstrat’s strategist David Grider commented on ETH hitting new historical records of about $1,430 in an investor note on Tuesday, Bloomberg reports. Grider said that the second-largest cryptocurrency could climb more than sevenfold to $10,500 after setting a new record. The strategist reportedly said that Ether is now “the best risk/reward investment play in crypto,” emphasizing that the Ethereum blockchain is the biggest foundation for decentralized finance, or DeFi, applications. “Blockchain computing may be the future of the cloud,” Grider noted.
Helen Partz 23:37
Tether and Bitfinex seek further 30 days to produce critical trial documents
iFinex Inc — the parent company of crypto exchange Bitfinex and stablecoin issuer Tether (USDT) — has written to the New York Supreme Court requesting that its upcoming trial date be pushed back even further. According to a filing submitted to the New York court system on Jan. 19, the legal counsel for iFinex Inc requested another 30 days to produce the documents demanded by the Office of the Attorney General (OAG). The document production process was supposed to be completed by Jan. 15 — a date which itself was an extension on the original deadline of Dec. 16. Legal counsel for the defendant, Charles Michael, said in Tuesday’s court filing that a “substantial volume” of material had already been handed over to the OAG, but that there remained “supplemental agreed-upon items” that still had to be sourced.
Greg Thomson 23:34
Brave private browser integrates IPFS support to desktop version
Brave Browser, a popular blockchain-enabled web browser, has integrated native support of InterPlanetary File System, or IPFS, to strengthen the access to the decentralized web. According to a Jan. 19 announcement, Brave has integrated IPFS into its desktop web browser for Windows, macOS and Linux, enabling users to install the protocol in a couple of clicks. IPFS is a peer-to-peer hypermedia protocol designed to make the web faster, safer, and more open. The protocol aims to supplement or possibly even replace the Hypertext Transfer Protocol, or HTTP, which is a major client-based protocol used to transfer web pages across a network. In the announcement, Brave pinpointed some crucial issues associated with HTTP:
Helen Partz 23:32
Privacy-focused Firo cryptocurrency suffers 51% attack
Anonymous cryptocurrency Firo — formerly known as Zcoin— is the latest Proof-of-Work coin to suffer a 51% attack. Tweeting on Wednesday, Firo revealed that the protocol had come under a 51% attack and advised holders to pause all transactions until the network returns to a normal state. We are under 51% attack at the moment. We recommend not to make transactions during this time until the network returns to a normal state. We will post updates when we have them. Note this is not a coding error but a nature of PoW. $XZC $FIRO
Osato Avan-Nomayo 23:30