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2021-09-02 09:22:55 ​​The total market cap of public crypto stocks has quadrupled since January

The combined capitalization of publicly-traded crypto stocks surged from roughly $25 billion in January to around $100B today.

The combined market cap of publicly-listed crypto firms has roughly quadrupled this year while the number of public digital asset firms has increased by 28% over the same period.
A new report from CoinShares estimates that public “cryptocurrency pure play companies” were worth roughly $25 billion at the start of the year, with mining firms and financial service providers representing the lion’s share of value.

While the report notes that 16 digital asset firms have gone public this year — increasing the number of public crypto companies to 57 public companies, the combined capitalization of said firms has skyrocketed to nearly $100 billion.

This year has already seen the greatest influx of public crypto firms out of any calendar year, followed by 2018 with 14. Just three firms went public during 2014, 2016 and 2017 respectively.

The report highlighted the April initial public offering (IPO) of leading U.S.-based centralized exchange Coinbase, describing the offering as “the first true large cap pure play in this sector.” 
Amid Coinbase’s April IPO, the capitalization of public digital asset firms surged to a record high of nearly $120 billion. By contrast, the sector’s combined market cap was less than $3 billion at the start of 2020.
The 15 public crypto exchanges now represent 62% of the sector’s combined capitalization at roughly $59 billion, followed by 19 financial services firms with nearly $20 billion and 20 mining companies with $10 billion.
Public mining firms have seen the strongest year-to-date (YTD) gains with 121% on average, followed by crypto financial services companies with 105% and exchanges with just 34%.
The crypto firms that went public in 2016 have enjoyed the largest gains in share price this year, posting an increase of roughly 140% on average.

Then 2018’s cohort ranks second by YTD gains with 115% on average, followed by 2017 with approximately 110%, and 2019 with 95%.
2020’s firms are currently up by just 19% on average, with the report suggesting that “most of these companies were already floated at higher valuations.” Open / Comment

2021-08-28 20:06:52 ​​SEC can collect unpaid ICO promotion fines from Steven Seagal, says judge
Actor Steven Seagal owes the U.S.


Securities and Exchange Commission unpaid fines stemming from a settlement related to the promotion of an initial coin offering -- and a U.S. judge has empowered the agency to seek collection.

According to Bloomberg, Seagal owes more than $200,000. As previously reported, Seagal settled with the agency after being accused of not disclosing payments related to his endorsement of the Bitcoiin ICO. As part of the deal, he was ordered to pay more than $300,000.

Per the report, Seagal has paid the SEC just $75,000. The agency previously went before a court to detail its payment struggles with Seagal.

Now, the SEC "can go through Seagal’s business manager to try and collect," per Bloomberg.

The SEC has gone after other promoters involved in Bitcoiin, which was accused of being a Ponzi scheme. John DeMarr pled to one count of conspiracy to commit securities fraud in July and faces sentencing in January. Open / Comment

2021-08-26 18:12:50 ​​3LAU introduces blockchain music platform Royal with $16M raise

The upcoming blockchain-based music investment platform is open to using different blockchain technologies.

Electronic dance music producer and DJ Justin Blau, better known by his stage name 3LAU, has officially announced the launch of a blockchain-based music investment platform Royal.

The announcement comes in conjunction with the platform raising $16 million in a seed funding round led by crypto-focused investment firm Paradigm and Peter Thiel’s Founders Fund, Forbes reported on Aug. 26.

Founded by 3LAU and his college friend JD Ross, Royal is a new platform aiming to enable fractional music ownership through Royal’s own version of nonfungible tokens, or NFTs, referred to as limited digital assets.

The venture intends to democratize access to music ownership to music lovers by not only allowing them to invest but also own rights to their favorite songs and albums through limited editions recorded on a blockchain network. According to the project’s creators, this would allow fans to earn money alongside their favorite artists as their music grows in popularity.

According to the report, 3LAU and JD Ross are yet to decide what blockchain platform would become a basis for the Royal platform. “Royal is open to using different blockchain technologies,” the platform’s representatives said.

Blau said Royal will be gradually rolling out the platform in beta over the next six months with limited access, targeting a full launch in the next eight months to a year. The startup is already in talks with several popular artists to bring them onto the platform without disclosing any names so far. Royal will charge artists a small fee in the short term, hoping to eventually make the project entirely “community run.”

Related: Musician sells rights to deepfake her voice using NFTs

3LAU noted that the new platform specifically intends to support early music projects through allowing fans to invest in them, stating:

“I always tell people that artists’ popularity is completely dependent on the fans and the listeners, not the companies and the distributors. If the fans like the music, they share it, they go to the shows, they're fully responsible for augmenting an artist’s popularity,”
3LAU has emerged as one of the biggest cryptocurrency advocates in the music industry, calling Bitcoin (BTC) “one of few hedges against a legacy, vapid monetary system.” In March, 3LAU's tokenized album Ultraviolet became the most expensive single NFT token ever sold. The artist has reportedly earned over $20 million from several NFT auctions over the past year. Open / Comment

2021-08-22 09:13:02 ​​Australia: Bitcoin for Those Who Get COVID-19 Vaccine

Attempting to stimulate the COVID-19 vaccine rollout in Australia, a local millionaire vowed to give away a small amount of BTC to everyone who takes a jab.

The Australian entrepreneur Fred Schebesta said he would give away $5 worth of bitcoin to locals who have had a COVID-19 vaccine and those who will get it in the future. Considering Australia’s population, he would have to distribute $104 million (around 75 million USD) if everyone takes advantage of the offer.

‘Get Vaxxed Baby, And Get Your Bitcoin’

Fred Schebesta – the co-founder of the financial comparison website Finder –revealed his plans to hand over $5 worth of bitcoin to Australians who have taken a coronavirus jab since February. The entrepreneur added that those who are about to get a vaccine would also benefit from his offer:
“I’ve had this crazy idea right now – I’ve never spoken about this. We’re going to give everyone in Australia who gets vaccinated $5 of Bitcoin. Get vaxxed baby, and get your Bitcoin baby as well.”

The 40-year-old blogger explained that each person could apply only once for this offer. To claim the amount of BTC, people would have to download the Finder app and present proof of vaccination. Once that’s done, the digital asset would appear in their wallets.
A little bit less than 50% of the Australian population over 16-years-old has at least one coronavirus shot, while those with a full vaccination cycle are around 27%. Doing the math would mean that Schebesta has to distribute nearly half of his $155M fortune to uphold his promise.
While some experts view bitcoin as a volatile and risky asset, the millionaire recently forecasted that its price would hit $255,000 by 2025. If this prediction comes true, hodlers will increase their cryptocurrency exposure by nearly six times.

Schebesta made the announcement during an interview with the radio host Kyle Sandilands who performed the song ‘Get Vaxxed Baby’ last month, convincing locals to take a coronavirus vaccine.

Different Story in Italy
While Fred Schebesta urged Australians to get a COVID-19 jab by giving them bitcoin, scammers in Italy offered fake coronavirus passes to thousands of people in exchange for cryptocurrencies.
As CryptoPotato recently reported, the Italian police halted several groups operating on the online messaging application Telegram, where locals bypass the law and buy vaccine certificates. The sellers preferred digital asset payments for the service.
The criminals did not have a fixed price for the illicit service, but one could buy it for up to 500 euros or $588. Still, the Italian officials did not disclose what type of digital assets the scammers accepted.
Italy has been one of the worst affected countries by the COVID-19 in Europe. According to the latest government figures, over 65% of Italians are fully vaccinated. However, whether all the certificates belong to people who have legally acquired them or have been part of the cryptocurrency fraud remains unclear. Open / Comment

2021-08-10 22:29:20 LPNT, an ERC20 decentralized multi-utility token, is the marquee product launched by the LUXURIOUS PRO NETWORK TOKEN GROUP. The group is a global leader in the domain of forex trading and luxury transportation services worldwide.
The token has been living up to its hype successfully. The token is now amongst the top gainers on the market front. It has crossed the milestone of $30 per LPNT. Meaning, LPNT has recorded more than 400% growth on the market front. LPNT's listing on BuyUCoin, one of the top and oldest cryptocurrency exchanges in India, has taken its growth to the cloud nine. The Indian cryptocurrency community has grabbed this token with both hands.
You can visit our official website to know more about LPNT.

Website: www.lpntoken.io
Twitter: https://twitter.com/officialLPNT
Instagram: https://instagram.com/lpntokenofficial
Telegram: https://t.me/LPNT_Official Open / Comment

2021-08-06 17:00:28 ​​The highly anticipated Ethereum London upgrade went live on Aug 5 and is already burning millions of dollars worth of the digital asset.

London was deployed on Aug 5 ushering in the long-awaited EIP-1559 and its upgrades to the transfer fee mechanism. Part of the base fee now gets burn as a result and the process has been running smoothly in the hours after launch.
Several trackers have been deployed to monitor this constant burning of Ethereum. Etherchain was reporting a total cumulative burn of 3,630 ETH at the time of press, less than 24 hours after the upgrade was deployed. This is worth approximately $10 million at current prices.

With an estimated current burn rate of 2.47 ETH per minute, the network could destroy 3,500 tokens per day.
Sustained blockspace demand
This ongoing destruction of Ethereum tokens will have an impact on the supply and issuance over time. The economics will remain inflationary while the asset is still being mined. This is likely to change when it switches to proof-of-stake which will reduce block reward issuance. After that, the issuance is likely to become deflationary due to the continued burning of a portion of the transaction fees.
The Ethereum blockspace has surged this year with the ongoing DeFi and NFT boom and a crypto bull market. The network has come under so much demand that average transaction fees surged to an all-time high of $70 on May 12. Peak prices for gas for smart contract operations skyrocketed to hundreds of dollars.
Network demand has slowed to more sedate levels but gas is still a steep $15 on average according to BitInfoCharts. This is a lot of potential ETH that will now go up in smoke.

Millions of Ethereum to burn

Ben Giove, President of Chapman Crypto, has been crunching some numbers and running some hypothetical scenarios on the Bankless newsletter. The base fee fluctuates per block so it is difficult to make accurate predictions as it can be anything from 25% to 75% of the total transaction fee.
He used the same 25% to 75% burn rates, stating that if were EIP-1559 was in effect, between 467,000 and 1.4 million ETH would have been burned year-to-date in 2021. Annualizing these figures results in a number between 800,000 and 2.4 million ETH projected to be burned in 2021.
In dollar terms, at current ETH prices of $2,760, this is between $2.2 billion and $6.6 billion.
These are just highly variable estimates, but it does emphasize the potential effects that this week’s upgrade will have on Ethereum supply and issuance going forward. Open / Comment

2021-08-06 09:45:56 ​​LPNT – The Best Crypto in Bear Market

Cryptocurrency industry is going through ups and downs these days. Some crypto projects are suffering at the hands of bears in the market. However, not all of them are facing the heat of the current bear market. Many cryptocurrencies are still offering profit to users.
One of them is the LUXURIOUS PRO NETWORK TOKEN, an ERC20 multi-utility decentralized token. Launched by the LPNT GROUP, a global leader in the domain of luxury transportation and forex trading services, is already headlining the crypto market in many ways.

It is currently priced more than $6 per LPNT as compared to the initial price of $0.40 at the time of launch. The token has witnessed at least 500% growth since launch on 15th December, 2020. The token has added many more feats to its cap. The list includes but isn’t limited to getting listed on multiple reputed cryptocurrency exchanges and platforms, growth in its global community, the launch of LPNT Pay and LPN multi-utility app and strategic partnerships with globally reputed liquidity providers.

Its popularity is quickly reaching the next level. The entire credit could be given to the strategies devised and implemented for increasing its utilization, circulation, demand and supply by manifolds.

In case you want to know more about it, visit the official website now.

Website: www.lpntoken.io
Twitter: https://twitter.com/officialLPNT
Instagram: https://instagram.com/lpntokenofficial
Telegram: https://t.me/LPNT_Official Open / Comment

2021-07-31 22:11:48 ​The London hard fork in the Ethereum network will bring down some tokens

The London hard fork includes the EIP-1559 offer, which implies the destruction of ETH when paying commissions. This should reduce the amount of transaction fees. However, in addition to EIP-1559, there is also an EIP-3529 proposal as part of the update, within the framework of which there is a refusal to reimburse gas.

"How does Ethereum work if you store data on the network? When you remove the data, you get a small gas refund. This is done in order to encourage developers to "clean up" the network for themselves, " said Tim Beiko, the developer of Ethereum.

The idea sounds good, but in practice, the developers used this mechanism to make a profit. When the commissions in the Ethereum network were low, they filled the network with" garbage data", and then, when the commissions grew, the data was removed from the network and received a gas refund.

Several "gas tokens", like GST2 or CHI, are built on this mechanism. For example, now the cost of GST2 is about $200, and before the approval of the London hard fork, its price reached $600. After the update, the gas refund mechanism will be disabled and such tokens will stop working.

"They will become useless after the London update. But whether their price will fall to zero or not, of course, I can't say – the market is often very irrational, " Beiko said. Open / Comment

2021-07-29 22:13:59 PlugWalkJoe hacker Arrested for Hacking Famous Twitter Accounts last Year

Joseph O'Connor, a 22-year-old British citizen known by the nickname PlugWalkJoe, was arrested in Spain yesterday for his involvement in the hacking of Twitter in 2020. O'Connor compromised the accounts of former US President Barack Obama and Elon Musk and disappeared with more than $100,000 in BTC.

O'Connor was a member of a group of hackers who posted a message on hacked Twitter pages about doubling any payment in bitcoins sent to the cryptocurrency wallet they specified.

In July 2020, O'Connor gave an interview to The New York Times and was quite optimistic about a possible detention:

"They can come and arrest me. I would have laughed at them. I didn't do anything," he said in an interview with the Times.

The arrest of Joseph O'Connor is the final stage of the investigation into the consequences of the hacking of Twitter. Earlier, the remaining members of the hacker group were arrested: Graham Ivan Clark (Graham Ivan Clark), Nima " Rolex "Fazeli (Nima" Rolex "Fazeli) and Mason "Chaewon" Sheppard (Mason "Chaewon" Sheppard). Open / Comment

2021-06-06 05:23:00 ​​"Bitcoin Going to the Moon' — Bitmex Sending Physical Bitcoin to Lunar Surface in Q4"

Cryptocurrency exchange Bitmex is sending bitcoin to the moon. A one-of-a-kind physical bitcoin will be minted and delivered to the moon by a leading space robotics company that Bitmex supports. The coin will hold one bitcoin at an address to be publicly released.

Bitcoin Will Be on the Moon in Q4
Bitmex announced Friday that “Bitcoin is going to the moon.” While many say that bitcoin’s price has “gone to the moon” several times before, Bitmex means this time a physical bitcoin will be literally launched to the moon.

Helping Bitmex land the coin on the lunar surface is the Pennsylvania-based commercial space company Astrobotic Technology Inc., a leading space robotics company that Bitmex supports. The exchange explains that the space robotics company will send “its first commercial lander to the moon in the fourth quarter of this year.”

Astrobotic Technology “has been selected by NASA to deliver science, exploration and technology demonstration payloads to the lunar surface with its Peregrine lunar lander,” Bitmex further detailed, adding:

Bitmex will mint a one-of-a-kind physical bitcoin, similar to the Casascius coins of 2013, which will be delivered to the moon by Astrobotic. The coin will hold one bitcoin at an address to be publicly released, underneath a tamper-evident hologram covering.

Peregrine-1 is Astrobotic’s first commercial lunar lander due to launch in November 2021. “The payload is occupying an official slot on the manifest. It will be the first-ever bitcoin to be on the surface of the Moon, with photographic evidence taken to prove it,” Bitmex noted.

The coin will display the Bitmex name, the mission name, the date it was minted, and the bitcoin price at the time of minting.

“For all the talk of bitcoin going to the moon, we’re actually going to do it,” said Bitmex CEO Alex Höptner.

Referencing Spacex CEO Elon Musk planning to “send DOGE to the moon,” Bitmex said:

We’ve nothing against Dog Money, but we felt it was only right to help bitcoin get there first. Open / Comment