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Cryptocurrency Exchange Giant Partners With LeBron James on Web3 Education Initiative

NBA star LeBron James is partnering with exchange Crypto.com to advance Web 3.0 development through education.

In a new blog post, Crypto.com says it is partnering with the LeBron James Family Foundation (LJFF) to provide education and access to participants in the nonprofit’s I Promise program.

James says he wants to ensure that people from disadvantaged backgrounds are not left behind as new technologies transform the world at a rapid pace.

“Blockchain technology is revolutionizing our economy, sports and entertainment, the art world and the way we interact. I want to ensure that communities like where I come from are not left behind.

Crypto.com and I agree on the need to educate and support my community with the information and tools necessary for inclusion.”

The I Promise program helps public school students and their families in James’ hometown of Akron, Ohio.

Singapore-based Crypto.com says of the initiative:

“Web3 promises to deliver a fairer and more equitable Internet owned by builders, creators and users. This promise can only be realized through the active participation of diverse participants.

Through this partnership, I Promise students and families will gain a solid foundation in Web3 and the innovations behind decentralized blockchain-based applications that drive the future of many industries, from finance to media and art.”

The partnership with the four-time NBA champion is the latest in a series of major deals that Crypto.com has secured with professional sports franchises around the world in recent months.

In November, the iconic Staples Center, where James plays for the Los Angeles Lakers, was renamed the Crypto.com Arena.

Other popular franchise sponsorships include Formula 1 Racing, the UFC, the NHL’s Montreal Canadiens and two European football teams.

Crypto.com Coin (CRO), the native token of the digital asset market, is currently up 2.4% on the day and is trading at $0.41.

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The Federal Reserve may reveal a national cryptocurrency

Many analysts are working to find out why Bitcoin suddenly had such a nasty drop in price. The world’s number one digital currency by market cap has fallen below the $40,000 mark after hovering there in recent weeks, and it looks like it could be because BTC is in line to face stiff competition from the Fed. Federal.

The Federal Reserve wants to issue a new cryptocurrency

The Fed released a statement explaining that it is looking into the possibility of issuing a national central bank cryptocurrency. The Federal Reserve has made it clear that it has no plans to go ahead with issuing the currency unless it has the backing of Congress and the White House. However, he is putting the situation out in the public and asking for comments.

The Federal Reserve is now involved in a study that aims to discover the benefits of these bank-issued currencies, and according to a new report, the benefits are pretty strong. More than anything though, the situation puts the US in a rather unique position, mainly because it seemed like the country would never go down that path given how loyal and dedicated it is to the US dollar.

Until this point, it was clear that only China was willing to enter the route of issuing a national form of cryptocurrency. In 2019, the country pulled back the curtain on the digital yuan, a virtual version of fiat currency that everyone uses to shop. The currency has been through a period of severe testing and has caused some people to wonder what, or even if, other nations would do the same. It looks like the United States could be next in line.

However, while the news is interesting, it appears to have produced some unpleasant results for BTC, which is down over $2,000 after the announcement. The report detailing the study says:

The Federal Reserve does not intend to proceed with issuing a CBDC without clear support from the executive branch and Congress, ideally in the form of a specific authorization act.

What will this do to the industry?

The situation is a bit confusing, as while that route may be unavoidable for many developed countries (after all, we’ve heard for years that cryptocurrencies are the way of the future), it’s possible that many true digital currency traders don’t be. intrigued by the idea of ​​a bank issuing a national cryptocurrency as this goes against everything crypto stands for.

Digital currency was initially designed to take power away from financial institutions and give it back to the people. These assets were built to give people a little more say in their lives and financial decisions. If these currencies are suddenly issued or controlled by banks, we can expect these freedoms to begin to dissipate, and the world of cryptocurrencies could become as centralized as traditional finance.

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Grayscale considering 25 more crypto assets for investment products

Grayscale, the world’s largest crypto asset manager, is considering 25 more crypto assets for investment products. With the latest additions, the company’s list of currencies under consideration has grown to 43. “The process of creating an investment product similar to those we already offer is a complex and multifaceted process,” said Grayscale.

25 Crypto Assets Added to List of Coins Under Consideration for Grayscale Investment Products

Grayscale Investments announced Monday that it has updated its list of digital assets under consideration for 2022. Grayscale currently has $30.6 billion in net assets under management.

The company explained that the list of “Assets under consideration” includes “some digital assets that are not currently included in a grayscale investment product, but have come to our attention as part of our exploration of this sector and that our team has identified as possible. candidates for inclusion in a future investment product. Grayscale details:

With our most recent update in January 2022, we added an additional asset to our Product Family column and 25 assets to the Assets Under Consideration column.

Amp (AMP) is the only digital asset added to the Grayscale family of products.

The additional 25 assets under consideration are Algorand (ALGO), Arweave (AR), Axie Infinity (AXS), Bancor (BNT), Bittorrent (BTT), Bora (BORA), Convex (CVX), Cosmos (ATOM), Decred ( DCR), Elrond (EGLD), Enjin (ENJ), Fantom (FTM), Gala (GALA), Gelato (GEL), Hélio (HNT), Holo (HOT), Iota (IOTA), Oasis Network (ROSE), Secret (SCRT), Spell (SPELL), Stacks (STX), The Sandbox (SAND), Universal Market Access (UMA), Vechain (VET), and Yield Guild Games (YGG).

Grayscale added:

The process of creating an investment product similar to those we already offer is a complex and multifaceted process.

“This requires significant analysis and consideration and is subject to our internal controls, custody arrangements and regulatory considerations, among other things,” the asset management firm explained.

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Harbor, American real estate company, will accept Bitcoin

A third party will handle conversions to US dollars and enable the purchase of real estate with bitcoin in four states.

Harbor Custom Development will accept bitcoins for your real estate properties.

The company said the integration would be facilitated by a third party, which would also handle a custody arrangement.

Harbor operates in Washington, California, Texas and Florida.

Harbor Custom Development Inc.

“We embrace technological advancements in our industry and seek to guide their impact in the future,” said Jeff Habersetzer, director of operations for Harbor Custom Development, in a statement. “Harbor is pleased to be the first national home and land developer to introduce our portfolio to the global cryptocurrency market with over 200 million users.”

Harbor is involved in all aspects of the land development cycle, including land acquisition, title, project infrastructure construction, home construction, marketing, sales, and management of various residential projects. The company operates in Washington, California, Texas and Florida.

Harbor said it would accept cryptocurrency payments through a third-party company that would handle the conversion to US dollars and hold the funds on escrow until the transaction closed. Despite accepting bitcoin and other cryptocurrencies, Harbor sales will continue to be denominated and settled in US dollars.

Sterling Griffin, president and CEO of Harbor, said it is a “significant step for the company” to offer its real estate products and services to individuals and institutions that hold cryptocurrencies.

Harbor said it focuses its efforts on acquiring land with “scenic views” to develop and sell residential properties within a 20- to 60-minute drive of some of the major U.S. metropolitan centers. Its residential projects, which include apartments, condominiums , single-family homes and luxury homes, are currently concentrated in the Puget Sound area of ​​western Washington; Sacramento, California; Austin, Texas; and Punta Gorda, Fla.

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Union Bank of Philippines to Offer Cryptocurrency Trading and Custody Services

One of the largest banks in the Philippines, Unionbank, is launching cryptocurrency trading and custody services. “It’s a way of preparing our banking business for the future,” said a Unionbank executive.

Philippine Unionbank to Offer Cryptocurrency Trading and Custody Services

Union Bank of the Philippines (UBP), also known as Unionbank, plans to offer cryptocurrency trading and custody services, Bloomberg reported Thursday.

Unionbank is one of the largest universal banks in the Philippines, with more than US$15 billion in assets under management (AUM). The bank is one of the first financial institutions in the Philippines to adopt cryptocurrencies.

Cathy Casas, head of the bank’s blockchain and application programming interface group, explained that the average Filipino investor currently holds about 1% to 2% of their personal assets in cryptocurrencies like bitcoin. She added that if the markets are “stable”, investors would have between 3% and 5% in 5 years.

The Unionbank executive estimates that around 5% of the local population has become interested in cryptocurrencies. He added that many cryptocurrency investors are young, some of whom earn virtual gaming tokens from playing to win.

On Thursday, Metaco, a security software and infrastructure provider for the digital asset ecosystem, announced that Unionbank is rolling out its digital asset management services. Metaco added that Unionbank is implementing services on the IBM Cloud.

The bank first announced that it was testing a crypto custody service in August last year, noting at the time that crypto assets are here to stay. Casas noted that the bank’s digital asset custody service will include tokenized securities.

The central bank of the Philippines, Bangko Sentral ng Pilipinas (BSP), has warned against investing in cryptocurrencies. The central bank warned that cryptocurrencies could “pose a danger to the financial system,” citing their vulnerability to illicit activities such as money laundering and terrorist financing.