Telcoin (TEL) gains 300% after layer-2 migration to the Polygon network

The ability to send money to anyone, anywhere, at any time was one of the original motivations behind Bitcoin (BTC) that helped give rise to the expanding cryptocurrency ecosystem that exists today.  Blockchain-based global remittance platforms are one sector of crypto projects that have evolved over time to help meet the needs of peer-to-peer money transactions, and Telcoin (TEL) is one such project that has made significant gains in 2021. TEL/USDT 4-hour chart. Source: TradingView Data from Cointelegraph Markets Pro and TradingView shows that the price of Telcoin has surged more…

Largest Latin American eCommerce platform adds $7.8M Bitcoin to its treasury

Mercado Libre, the largest e-commerce platform in Latin America, has announced to the U.S. Securities and Exchange Commission (SEC) that it acquired $7.8 million in Bitcoin in the first quarter of 2021. It stated in the report: “As part of our treasury strategy this quarter we purchased $7.8 million in Bitcoin, a digital asset that we are disclosing within our indefinite-lived intangible assets”. The purchase makes the Argentinean company the first large Latin American company to acquire Bitcoin for its treasury and sees it join an exclusive club of companies…

Grayscale Forms Partnership With New York Giants

Key Takeaways Grayscale has partnered with the NFL team the New York Giants. The asset manager will sponsor Giants events; it will also offer cryptocurrency seminars to the team. There are other opportunities for crypto adoption within the NFL. Share this article Crypto asset manager Grayscale Investments has formed a partnership with the NFL team the New York Giants. Grayscale Offers Sponsorships and Seminars According to Grayscale, the firm will primarily act as the sponsor of upcoming events, including home games, the Giants Foundation Golf Outing, and the Giants Training…

Bears aim for sub-$60K Bitcoin price ahead of Friday’s $1.1B options expiry

Bitcoin (BTC) entirely recovered from its recent drop that saw the price fall to the $53,000 support level. This move back to $57,500 relieved bulls from the negative pressure of the May 7, 3,500 BTC options contract, which represents $200 million in open interest along with a $1.1 billion options expiry. Today’s swift recovery could have been partially driven by the news that New Digital Investment Group (NYDIG) partnered with Fidelity National Information Services (FIS) to create a framework for U.S. banks to offer crypto trading services. Patrick Sells, the…

Grifter season in DeFi-land, and Uniswap v3 is here! Finance Redefined 4/28-5/05

Lots of cons, no artistry It’s grifter season: scams and opportunists run amok, and it’s harder than ever to tell who to trust. Case and point: over the weekend, an influencer by the pseudonym “Crypto Spider” was found to have pumped-and-dumped a meme coin, $SELON — while publicly claiming that he had joined his followers in taking a loss. step 1: @linkpadvc make a Doge fork called Shibe-Elon step 2: give themselves a ton of it step 3: burn 1 of their top address to induce FOMO step 4: rug…

Goldman Sachs leads $15M investment round for Coin Metrics

Blockchain analytics firm Coin Metrics has raised $15 million in a funding found led by financial giant Goldman Sachs. In an announcement today, Coin Metrics said Goldman Sachs, Castle Island Ventures, Highland Capital Partners, Fidelity Investments, Avon Ventures, Communitas Capital, Collab+Currency and others had contributed $15 million to the analytics firm to “accelerate the company’s global expansion” as well as reach more places in the crypto market. Coin Metrics co-founder Nic Carter called the funding a “huge validation” for the firm as a provider of crypto data for institutions. “Data…

Is KFC Canada Really Accepting Dogecoin Payments?

Key Takeaways Earlier today, KFC Canada claimed via its Twitter account that it is accepting Dogecoin as a means of payment. However, the company’s website does not show any cryptocurrency payment options. It is possible that the statement was a tongue-in-cheek joke made in light of the recent Dogecoin craze. Share this article Rumors have emerged that KFC Canada is accepting Dogecoin, following a tweet from the company published earlier today. Cash, Card, and Dogecoin In April, KFC Canada announced free delivery on orders over $35. Today, one customer responded:…

Analysts suggest Dogecoin traders are rotating profits into large-cap altcoins

Every cryptocurrency bull market has at least one surprise catalyst that comes out of nowhere to excite traders and spark massive trading volumes that lift the total market capitalization to new highs.  The 2021 bull market is no exception to this rule, and one of the biggest catalysts for growth this year has been the explosive popularity of Dogecoin (DOGE), which has made headlines in traditional and alternative financial circles as its price surge to new all-time highs over the past few months. DOGE/USDT 4-hour chart. Source: TradingView With such…

WallStreetBets combats market manipulation using blockchain

WallStreetBets, the Reddit-based grassroots movement that achieved notoriety for short-squeezing hyper-leveraged financial firms, has launched a new blockchain-based application aimed at combating market manipulation in traditional finance.  The group announced the creation of WallStreetBets Exchange Traded Portfolios, or ETPs, that can provide investors with broad exposure to various assets in a completely decentralized manner. The group explained: “WallStreetBets ETPs may serve as an alternative to kind of the market manipulation by opaque and politically connected banks and hedge funds.” The product is powered by a decentralized autonomous organization, or DAO,…

Georgia’s central bank is exploring ‘Digital Gel’ CBDC

The National Bank of Georgia said that it is considering launching a central bank digital currency. In an announcement today, the central bank hinted at the issuance of a central bank digital currency, or CBDC, in an effort “to enhance efficiencies of the domestic payment system and financial inclusion.” The National Bank of Georgia, or NBG, said it would be inviting fintech firms and other financial institutions to participate in the project, named Digital Gel after the symbol for the country’s fiat currency, the lari. “CBDC holds the promise to…