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Dubai To Benefit From Expanding Crypto Market, Bittrex Global CEO Says

As per a recently released report, Bittrex Global Ceo said that Dubai is in a great position to benefit from the growth of the cryptocurrency market.

Many regulators in the Middle East regions are pushing towards the acceptance of all blockchain-based technology. The information was given by Bittrex Global’s CEO.

As per his comments, the United Arab Emirates and Dubai were doing the right things to attract new regional projects. As per a comment made by Stephen Stenberg, the CEO of digital assets exchange, Dubai is a great place if you want to set up your token project. He also said that these places in the Middle east have the status of being a tax haven.

Dubai, which is a financial hub, has already taken different steps to bolster and improve the use of blockchain. Stoneberg also added that he expects the Middle Eastern sovereign wealth funds to make blockchain allocations.

In the month of May, Dubai Airport Free Zone Authority signed an agreement to support the regulation as well as offering the trading of crypto assets within the free zone. The DMCC free zone in the city also opened a blockchain-based exchange for trading sugar. Bitcoin funds were also listed on the Nasdaq Dubai exchange in June. This is for the first time that Bitcoin is gaining so much prominence in Dubai and regions around Dubai.

As per the Bittrex CEO comment, Dubai is doing very well by embracing cryptocurrency. He also added that Bittrex also expects to have an expanded presence and more clients in the Middle East region.

The news about cryptocurrency has rallied in the last few weeks with the voices of Elon Musk and Cathie Wood. Thus, it is boosting sentiment among people to make an investment in Bitcoin and cryptocurrencies.

Crypto Offers More Freedom, Coinbase CEO Responds To DOGE Creator

Cryptocurrencies like Bitcoin have the potential to change the way of making payments. It has proved its potential in all these years since 2009, but not all people are impressed with bitcoin. In fact, other cryptocurrencies like Dogecoin and Ethereum are also at their peak, and it is expected that they will grow more. Recently, Brian Armstrong, CEO of crypto exchange Coinbase, responded to the co-creator of Dogecoin named Jackson Palmer. On 15th July, Armstrong took it on Twitter, stating some amazing benefits that Bitcoin and other cryptocurrencies are offering. Cryptocurrencies are simply the best alternatives to government-issued currencies and provide users more freedom.

The CEO of Coinbase emphasized that one’s attitude about cryptocurrencies or the crypto world completely depends on their perspective. They elaborated that not everyone wants to control their funds, and some want financial regulators to control their money, and those people love the traditional fiat system. But for those who seek freedom, cryptocurrencies are best as they provide you with much-needed fresh air. People who believe that government currencies or solutions are underdelivered, incompetent, and overpromise are those who love cryptocurrencies because of what they offer.

He even said that the traditional investment style doesn’t provide opportunities to small investors that are seeking to earn profits, and in fact, there are many restrictions associated with them. Armstrong said that the accredited investor laws were developed to protect people from frauds and scams, and instead, they are making it illegal for people to get rich. On the other hand, cryptocurrencies like Bitcoin and Ethereum don’t require their investors to be ascribed by financial authorities and provide them some ultimate and attractive opportunities. This is why Bitcoin is known to make people rich.

Armstrong concluded the topic by saying that cryptocurrencies offer more equal opportunities and wealth mobility for everyone. It is a global currency that is open for everyone, and no one can be partial about big people as there is no politics involved in the crypto world.

Jackson Palmer is the co-creator of Dogecoin, who created this digital currency as a joke in 2013. In July, he tweeted about the crypto industry that it is “hyper-capitalistic and right-wing technology” that is designed for amalgamation of “reduced regulatory misunderstanding, tax avoidance and falsely enforced scarcity.” Even in one of Palmer’s tweets in 2018, he predicted that the crypto industry would reach a point where the utility and value of these currencies will reach zero.

U.S. Congressman Expresses The Importance Of Crypto Wallet Privacy

Well, every crypto owner is aware of how important it is to make sure that your funds are safe within your wallet. Still, some people misjudge crypto wallet privacy. Recently, U.S. Congressmen named Warren Davidson and Cynthia Lummis speak about personal and crypto wallet privacy in Miami. At the active Bitcoin 2021 in Miami, Congressmen discussed bitcoin wallet privacy and answered a few interview questions. While the interview was more on cryptocurrencies, it took a turn and moved to privacy that crypto engine wallets offer.

Davidson responded with several comments and said that “During the year-end, if central authority thinks about banning private crypto wallet, then it would be a terrible approach. Secretary Mnuchin added that “it is important to protect private crypto wallets as wallets aren’t protected, they will get banned.” He said, “Someone will try to ban private wallets.” Davidson mentioned that during the end of 2020, the U.S. Treasury advised stringent overwatch on private digital asset wallets with certain details like calling users for more information while making transactions with wallets stored away from bitcoin exchanges.

Secretary added, “He wishes that the entire country would take these threats to private wallet privacy seriously as they have taken the threat to an amendment seriously.” He talked about the second amendment of the U.S. Constitution that provides gun ownership rights to U.S. citizens. In his comments, Lummis gave her response on teaching the importance of the U.S. government about Bitcoin. She said, “They are trying to create a financial improvement convention so that they can use it to teach the U.S. Senate members and their entire staff about basics, working, and advantages of Bitcoin.

How to secure your funds?

Whether you choose a private wallet or an open-source wallet, you must learn the best ways to keep your funds secure. The best option is to choose hardware wallets, as these are specially designed to store large amounts of bitcoins and offer an advanced level of security. All other wallets or methods may surely offer few advantages, but they may have noteworthy disadvantages and don’t offer extra security.

Some private wallets are specialized in storing digital currencies. It would help if you learned that no wallets offer the same security, which is more important to check. Know your needs and preferences and research well about all the different crypto wallets and privacy they offer.  The U.S. is trying to educate all its members about bitcoin and makes it a fabulous asset. The underlying technology and network of bitcoin trader provide freedom to transact money.

Us Firm Splashes Out On 4,800 Bitcoin Miners Worth $34M

Bitcoin is a new trend nowadays and the craze of it is touching the skies. So let us understand what is Bitcoin, Bitcoin is one of the first cryptocurrency and was created in 2009. The person who created the Bitcoin is still unknown. Bitcoin is not like any other government currencies and it’s not operated by any centralized authority. Bitcoin is not a legal tender and is not any physical coin, the balances are stored in a digital ledger that is visible to everyone. Every transaction in the public ledger is verified by the miners using their computing power and they get rewarded once they finish the verification. Mining has been popular over time and it requires a lot of investment like buying expensive GPUs, rigs, ventilating instruments etc. But if done properly and with correct calculations mining can fetch a huge profit.

A cryptocurrency can be beneficial, any person before investing must have a steep look at the development process of that particular currency that they want to invest in. As beneficial, it turns out that cryptocurrency is volatile. The best example was the crash of 2018, Bitcoin crossed approximately 20 thousand dollars in 2017, making everyone amazed at the achievement. But what happened next? The price fell to almost 7000 dollars in 2018. From then till date Bitcoin has been slowly climbing the stairs and has an All-time-high of approximately 65k$. Looking at the volatility of any currency, call it digital or physical puts every person in thought to take a step ahead and join the investment market leap of crypto.

As of today Bitcoin Evolution was not so popular and suffered a crash in 2018, but it recovered and has bought a spectacular change in the crypto market. Recently Pennsylvania software firm Integrated Ventures has officially announced that it invested in the mining rigs. The US-based firm purchased 4,800 Bitcoin Mining rigs from Chinese manufacturer Bitman. The deal cost a whopping amount of $34 million. According to the reports the firm purchased Bitman’s Antminer model S19J’s and Bitman would ship 400 rigs every month. Integrated Ventures also partnered with Wattum Management, which is a mining solution provider. Wattum will help the integrated ventures in the mining operations. Each mining rig is capable of providing up to 100 tera-hashes and after the full shipment, all the rigs can provide up to 0.5 million TH/s. As of now, the Bitcoin mining hash rate is around 170 million TH/s, this means the Integrated Ventures will have a decent amount of hash rate with the rigs. Integrated Ventures CEO Steve Rubakh said the deal effectively doubled the firm’s existing Bitcoin hashing power, adding that he was pleased to secure the purchase of mining equipment at a time when the hardware was scarce. “The Company is very pleased to secure this large scale purchase agreement, especially during a period of the scarce supply of mining hardware. Going forward, INTV is committed to deploying any raised capital for purchases of the mining equipment,” said Rubakh.

Vc Funds Bullish On Crypto, Increase Investment In Blockchain Startups

There are many people who are showing interest in investing in the startups that are developing technology for cryptocurrency and blockchain. The funding in this area is not given a break. The VC funds appear to be growing day by day and gaining a huge potential. The venture capital funding for crypto and blockchain has set records in 2021. The crypto firms have got a lot of funding in 2021 when compared to 2020. There are around three companies that have got the funding of around 1.1 billion in the first quarter. 1/3 rd of the funding that is collecting was way back in 2018 for crypto and block chain firms. There is a lot of bullish enthusiasm in the crypto space. The appetite for VC would continue throughout this year.

The funding happened to be in the early stage and has spread to retain area with decentralized exchange offering turning over subsidized. The IDO launch pads are performing at its best now in the cryptocurrency space. In the first quarter of 2021, the blockchain and crypto start-ups have received the funding of around USD 2.6 billion as per yahoo. The number is USD 30 million more than the total funding that the company got in the whole 2020. There is a crypto wallet provider; blockchain.com is lending money to both the BlockFi and blockchain game studio that is run with the name Dapper labs of around USD 2.6 billion. It is the start-up funding that is received in the first quarter of 2021. At the March end, Dapper labs announced the funding of around USD 305 million. This is the funding that the company has got from the celebrities and superstars of cinema. There is a steep rise in the NBA Top shot non-fungible tokens. Since the start of the crypto space, the startups have received a lot of funds. These are published on the Blockchain venture capital report. Though there is no clarity on the crypto space, still the funds have flooded to the companies.

There is a VC firm named Kinetic, which is based out of Hong Kong, has helped get private equity funding for blockchain startups. There is a lot of peer pressure from Elon Musk and Michael Saylor to invest in this market. If VCs found this to be a risky thing, then they might lose the best business opportunity. There would be outsized returns that the company can get along with the equity investments. The Blockchain venture capital report disclosed that the block chain private equity has performed really well compared to the traditional private equity. The performance of the blockchain private equity is not correlated with the mainstream asset class. There is a VC thesis in which it is clearly stated that crypto is an attractive space with a lot of potential for the growth, but it also needs promising validation. The VC funding has hit a 2% rise and fell by 1% at the end of the VC market. Based on the Cointelegraph research, it is clear that the blockchain focused VC funding has been dropped by 13% from 2019 to 2020 and traditional equity funding has hiked to 18% in the same duration.

The early backers are given the opportunity to have cryptocurrencies whose value would be appreciated in the short time. The crypto portfolios will allow one to contribute to the ecosystem of this industry through stake node operations, governance proposals, liquidity and bootstrapping.

Twitter Considering Bitcoin Options, Including on Balance Sheet, Exec Says

As per Ned Segal (Chief Financial Officer), it gives light on Twitter that is planning to add bitcoin as a part of its reserves.

On Wednesday, Segal came up with a statement in front of CNBC’S Squawk Box that Twitter, a mega-giant in the social media network is considering options available for payment with the presence of cryptocurrency at the top in the market cap. 

“We have put ample efforts in speculating forthrightly on planning how it is effective to release payment in employees’ accounts, how to release payments for vendors if they inquire about getting paid with the most famous cryptocurrency, i.e., bitcoin. Also, is there any need for us to maintain bitcoin within our accounting reports or balance sheets,” he added.

The company is not willing to drop any opportunity phased out and is aiming to avail complete advantage of the competitive scenario. The CFO showed interest to look and analyze about steps taken by other businesses. He said that we act as a team in keeping a close monitor over other businesses and see their efforts to learn something and move ahead with effective steps. Learning from other businesses can give an idea about risks and other threats prevailing in the business environment.

Within recent time, a lot of news prevailed around bitcoin investment. Many well-developed firms started taking interest in Bitcoin. MicroStrategy firm also invested in bitcoins as a cryptocurrency taking the edge to combat inflation and manage the degrading value of the U.S. dollar. Bitcoin entered in the glam light with many businesses shifting towards it and investing in it as a support to eliminate economic downtimes. In the Monday report, a highly-reputed Fortune 500 firm “Tesla” was in the highlight for investing about $1.5 billion in the top-ranked cryptocurrency, bitcoin.

Remarks from Sehal were something as everyone expected and didn’t explode like a surprise in the ears. Jack Dorsey (CEO Twitter) is a prominent person that is linked with bitcoin as he’s among the bitcoin supporters. Dorsey is also in the highlights for heading Square additionally from Twitter. One might also have heard about him having indulged in getting hands over purchasing and selling cryptocurrency service at the well-established Square. Additionally, he’s in the glam light for framing “Square Crypto,” a small group handling the operations to take ahead development of bitcoin.

On Wednesday, it was glad news to hear about Twitter. The blockbuster notification showed light on shares of Twitter that went up at 11.67% ranging about $66.88 at publication time.

Key ETH And BTC Options Metrics Show Traders Are Wildly Bullish

Coin Metrics Crypto data consists of the amount of transactions, the amount of on-chain transactions, the amount of tokens produced, the value, stock price, and the quantity of data shared. Costs are based not on US dollars, but on the national currency. Among many programmers and investors, Ethereum is a crucial tool.

They are used to build decentralised organisations that have not been developed before. To exclude third-party clients from diverse sectors, Ethereum Smart contracts are being used. Bitcoin is a platform of agreement that allows for a modern payment service and entirely digital currency. This is the first open peer-to-peer digital currency without any central power or intermediaries and is controlled by its participants. Now, let’s get into the main concern.

Details on the Issue

The Ethereum price is now the subject of publicity, but derivatives data reveals that professional investors on the Bitcoin price are still extremely optimistic. Over the last few days, Ether has underachieved the value of Bitcoin by about 20 percent. While the BTC appears to be failing to crack the 18,800 USD threshold, as per derivative market information, both bitcoins show the very same exuberance.

As the Eth2 network deployment continues, Ether is experiencing a planar surge, and this excitement is mirrored in the financial market. Bitcoin investors are unperturbed despite the lack of comparable market activity from BTC, and evidence reveals they are already extremely positive.

Existing negotiations are still positive for Ether and BTC

Evaluating the base predictor is a useful technique as it contrasts the level of put options at standard spot markets with the market price. In a condition known as contango, stable stocks typically demonstrate a 5 percent to 10 percent annualised basis. On the other hand, throughout highly bullish economies, futures trade with a concession typically happens. The potential basis of Ether ranged from 10 percent to 20 percent, reflecting bullish hopes. The trader would prefer to use them for scoping rather than dropping Ether at a future contract.

Consequently, demanding a premium for the exchange is just normal. After today’s sluggish bad outcomes, the BTC futures premium is already acting appropriately. This measure would have dropped under 10 percent annualised had investors given up hopes of a sustained bull market. There is only one explanation why, on a futures market, an investor spends a very massive price, and the purpose is bullishness. It is possible to view this indicator as a levy on utilised financial stocks.

Traders in options are reluctant to open bearish trades

Observing the 25 delta skew also offers important insights into experienced investors’ perception and position. A strong 25% delta bias suggests that it pays far beyond equivalent call (buy) choices to the put (sell) option, indicating bullish sentiment. A pessimistic skew, on the other side, indicates optimism.

In positive economies, the metric typically varies from -20 percent to +20 percent, but that has not been the situation for Ether in recent days. After the poor results, one might anticipate BTC retail investors to be marginally less positive, but that has not been the situation. Data reveals that BTC option sellers, irrespective of how tough the very last couple of weeks have indeed been, are currently surprisingly positive. There is no hint of a change in perception emerging from the markets for commodities.

While, as per research work, there are several ways of interpreting the very same table, hope has not exactly been transpired by BTC. A bullish explanation of the recent economic behavior may be offered by investors who favor smaller timescales. Qualified buyers, however, understand how unpredictable BTC stocks are. They are also not able, at a moment, to minimise their optimistic aspirations. There appears to be no reason to consider the good momentum of Bitcoins right now. Although Ether has outpaced it, the very same faith in both tokens is seen by investors.

Extra Info

The transition of values on Ethereum obviously varies. Ethereum accepts properties from private entities, as well as its very own ether coin, which can be transferred and obtained over its system. Value conversion on Ethereum corresponds to the USD price of all ETH and stable assets based on Ethereum exchanged on a specified date.

Russia’s Gazprombank Gets Green Light For Crypto Custody In Switzerland

In the Russian banks, access to the bitcoin services is seen abroad. On the contrary, the government is not hoping for any future with cryptos linked to remote operations. 

In the Russian light came a private-owned Gazprombank. The Russian bank attained approval for the regulation of services involving crypto custody from the subsidiary Swiss.

On 29 October, an official statement got announced. As per the announcement, the bank obtained approval from the SFMSA (Swiss Financial Market Supervisory Authority), the country’s regulator of finance, to provide the custody involving crypto and other trading services to the corporation and institutional clients.

In the offering service, a restriction is under existence. It is known that offerings will limit only a specific customer group holding BTC as the sole cryptocurrency support. As per the updates, Gazprombank plans to expand the offering related to other cryptocurrencies and other products or services.

Roman Abdulin (CEO of Gazprombank) came with a statement: “We are expecting that the digitally stored assets turn into a vitally important part in the globally operating economy. We also expect the assets stored digitally to be important for the potential as well as current clients.”

Being a part of the world and operating as a regulatory authority, Gazprombank needs to comply with the laws stated within Know your customer and Swiss Anti-money laundering regulations. Apart from the diligence software and procedure implementation, Gazprombank needs to comply with the regulatory rules. 

Gazprombank Switzerland operates as a registered bank of Swiss under 100% regulation by Gazprombank of Russia. Since 2018, the bank is making preparations to release the operation of services involving cryptocurrency in Switzerland. The Russian-based bank obtained a green light in Switzerland for operating services, including crypto custody. Not much familiarity with crypto is seen in the home country, but the banking institutions are in many talks about crypto market operations abroad.

Even when the Russian banks are paying interest to cryptocurrency markets in abroad regions, the Russian government is not friendly with specific crypto markets in the home nation. Russia is not switching to cryptocurrencies for general usage in the home country and not committing to a long-term crypto future. In a recent update, Anatoly Aksakov (Russian State Duma member and representative of legislation for Russian crypto matters) got indulged in an argument over cryptocurrencies like the decentralized Bitcoin. Aksakov made a statement that such cryptocurrencies don’t hold any future in the market.

Brazil Plans To Track Covid-19 Vaccinations Using Blockchain Technology

COVID-19 has put a stop in the whole economic process, globally. But recently something new surfaced in the webinar held by the “Ministry of Justice” and Public Security. The webinar can be summarised with a significant proposal that blockchain technology can be used to reduce corruption and also can be very useful in tracking COVID vaccines. Brazil has thought about using a system called the “National Health Data Network”, which can be used to track vaccines for the time being. The webinar was held on Youtube, and that identified some most valuable uses of blockchain technology and the world witnessed it. 

Like many other nations, Brazil is also waiting for the vaccines to hit the market so that their citizens can be vaccinated at the earliest and the economy can again accelerate like before and even in better condition. So, to find out the progress about the vaccines for COVID-19 Brazil has proposed the use of a blockchain system in tracking it. Previously Brazil government thought to use the vaccinations of the diseased first but die to the global surge in the number of COVID patients. Brazil has set its vaccinations limit toll 2021. They want to vaccinate their total population by end of 2021, and that is where their new proposal of using a blockchain system to track COVID vaccines will have much higher chances of getting into the limelight.

Plans by Brazil

Brazil is planning to use RNDS or “National Health Data Network” in blockchain form that will be constructed using the “Hyperledger Fabric Blockchain framework”. This particular system has a benefit. The system will keep the tab of every vaccinated citizen in their datasheet for better accountability of the shots provided by Brazil government. This announcement was made by Elmo Raposo Oliveria, the coordinator of the systems in the Ministry of health. As Oliveria states, this system will help them be updated about the ones who took the shot and who have not yet taken the shot. The system will provide transparency and a greater grip on the data so that none is misplaced.

The only motto of this system is to make a very well informed exchange of data between the health care facilities and the government officials. This will allow the continued private and public sectors of care and cure to perform their activities. Firstly, it was thought and speculated that the vaccines would hit the market in September 2020, but due to various processes and checking and rechecking of vaccines it is supposed to reach markets by end of 2020, and Brazil hopes to provide shots to all by 2021.

Currently, Brazil has already embraced a COVID shot that came into being due to collaborations between Oxford and British pharmaceutical companies that is commonly known as the “Oxford Vaccine”. Although the citizens of Brazil are privileged to get the COVID shots, for mass use they are eyeing on China-made coronavirus vaccine, CoronaVac by China, which will be way cheaper and accessible, globally. Brazil is highlighted in the global news due to this particular decision.

Bitcoin.com wallet upgrade allows access to interest earnings

Bitcoin is one of the most famous virtual currencies and holds great value in terms of circulation as well as the amount. The makers still work on betterment of the same, and that is why they keep on adding various features to service, which can make the currency more useful and increase its circulation. Bitcoin.com has now upgraded its features that will allow users to get good earnings from crypto wallets. This is done in partnership with Cred, and users can access CredEarn without leaving the wallet app. In this way, they can pledge digital assets and get interest payments on their assets. The good thing is that the interest payments can be received in another asset, and it can easily be accessed through mobile and desktops.

Additional updates of Bitcoin.com wallet:

Some of the additional updates include getting daily compound interest, which is a huge benefit for the owners of crypto assets. In this way, they can make the best use of their assets without liquidating them in the long run. This will be useful as the price of Bitcoin reaches a stable zone, and users need not worry that their assets are stuck in value when they can earn regular interest in this manner.

Apart from that, there is a good amount of flexibility with regards to the latest updates to this wallet. In this update, users can choose how they want to receive the interest payment for their digital assets. They can choose to get the interest payouts in the cryptocurrency that is originally pledged with the company or choose to get them in another stable coin of their choice.

In this way, consumers will be able to diversify their cryptocurrency portfolio in the long run. If you plan to accumulate multiple currencies to diversify the portfolio, you can choose to invest in one currency and get interest payouts in another currency.

This is the best lending and borrowing platform for users in the long run, which can solve various financial problems in the market. Bitcoin.com executives said that they would offer the opportunity to earn interest via a secure platform, and this will be a licensed financial services platform.

This is an excellent opportunity for investors, and they can easily capitalize on interest earnings and safely park their digital assets. This will also protect them to some extent from market fluctuations.