Monat: September 2023

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Here’s what the U.S. government shutdown may mean for Bitcoin

  • James Butterfill expects Bitcoin to rally if the U.S. government shuts down.
  • BTC has a history of performing quite well in times of uncertainty.
  • The world’s largest cryptocurrency is already up close to 4.0% today.

Bitcoin will likely rally if the U.S. government does indeed shut down on October 1st, says James Butterfill – the Head of Research at CoinShares.

Why may BTC rally on shutdown?

The world’s largest cryptocurrency by market cap is already up close to 4.0% on Thursday as the U.S. government started sending out notifications to federal employees that a shutdown may be imminent.

And that rally may extend when the shutdown actually begins, as per CoinShares’ Butterfill.  Because the investors could read the funding lapse as a sign of instability and turn to Bitcoin for refuge.

This scenario bears resemblance to the debt ceiling stalemate experienced earlier this year, which ended up bolstering Bitcoin prices.

Bitcoin continues to find a strong support at the $25,000 level.

U.S. banks still have downside risks

Note that Bitcoin saw strength when the likes of Silicon Valley and Signature banks collapsed earlier this year. That speaks a lot about its ability to outperform in times of uncertainty.

And the U.S. financial institutions may not entirely be out of the woods just yet. Martin Gruenberg – Chair of the U.S. Federal Deposit Insurance Corporation (FDIC) recently warned that inflation and higher rates continue to be a significant downside risk for the banking space.

Another near-term tailwind for BTC could be the approval of a Spot Bitcoin ETF – for which the U.S. lawmakers pushed SEC Chair Gary Gensler just a day earlier (find out more).

On Thursday, Rob Ginsberg of Wolfe Research also said that Bitcoin was worth investing at its current price.

The post Here’s what the U.S. government shutdown may mean for Bitcoin appeared first on CoinJournal.

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Tottenham Hotspur to issue a Web3 fan token using Chiliz Blockchain

  • Tottenham Hotspur embraces blockchain technology, partnering with Chiliz for a Web3 fan token.
  • Fans can participate in on-chain voting and enjoy club-related rewards with the upcoming $SPURS fan token.
  • Stricter regulations from the FCA in the UK prompt disclaimers on fan token offerings, ensuring compliance and transparency.

Tottenham Hotspur has entered the world of blockchain technology by announcing its plan to issue a Web3 fan token, making it the first Premier League team to do so in two years.

The London-based football club is set to collaborate with the Chiliz blockchain, offering its fans a unique and engaging experience.

Chiliz Blockchain revolutionizing fan engagement

Spurs’ decision to tap into blockchain technology is driven by a desire to enhance supporter engagement and provide rewards through a Web3 fan token. This innovative move will be facilitated by Socios.com, a fan engagement platform built on the Chiliz blockchain, which has already garnered the interest of over 80 major sporting teams worldwide.

The Chiliz blockchain empowers teams to issue and manage fan tokens, digital collectibles, and real-world rewards while enabling fans to participate in decision-making processes related to their favourite teams, akin to decentralized autonomous organizations (DAOs).

This development aligns Tottenham Hotspur with other prestigious football clubs such as Manchester City, Arsenal, Barcelona, Paris Saint-Germain, Juventus, Inter Milan, AC Milan, Atlético Madrid, and A.S. Roma, all of which have embraced blockchain technology to revolutionize supporter engagement.

Tottenham Hotspur fan token launch

Tottenham Hotspur is set to launch its $SPURS fan tokens on October 4, 2023, providing fans with a unique opportunity to be part of the club’s digital ecosystem.

In addition to the fan token, Spurs will collaborate with MatchWornShit, a platform facilitating auctions of jerseys worn by players during games. The authentication of these auctions on the Chiliz blockchain ensures transparency and trust in the process.

Fan token holders will have a say in various team dynamics, including potential kit changes, through on-chain voting. The fan token will also introduce a range of club-related rewards and experiences, further engaging the fan base.

To ensure regulatory compliance, Socios users in the United Kingdom will start seeing disclaimers on fan token offerings from October 8th. This development is in response to the Financial Conduct Authority’s (FCA) oversight of crypto asset promotions, imposing stricter rules and emphasizing potential risks associated with cryptocurrencies and fan tokens.

Looking ahead, Tottenham Hotspur plans to integrate the fan token into its existing loyalty program and mobile app. This demonstrates the club’s commitment to providing its fans with an enhanced and seamless digital experience while fostering a stronger sense of community among supporters.

The post Tottenham Hotspur to issue a Web3 fan token using Chiliz Blockchain appeared first on CoinJournal.

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EOS becomes first “climate-positive” blockchain network

  • EOS Network Foundation has partnered with Upland and Aerial.
  • The collaboration sees EOS become the first blockchain network to be “climate positive”.
  • EOS uses a proof-of-stake (PoS) consensus mechanism.

EOS Network has reached a landmark milestone among blockchain networks as its vision of a green blockchain crystalised with the latest collaboration between the EOS Network Foundation (ENF) and Upland, a Web3 platform for the metaverse.

EOS is “climate positive”

Although EOS was already a carbon neutral chain, ENF’s collaboration with Upland and sustainability platform Aerial to push the EOS Network from being a carbon-neutral blockchain to one that’s now “climate positive.”

The move comes amid growing adoption of green energy even across proof-of-work blockchains like Bitcoin, around which there has been much debate on how to achieve more in terms of environmental sustainability.

For EOS, a proof-of-stake (PoS) blockchain, becoming “climate positive” means that the network’s activities extend past the quest for net-zero carbon emissions. It means the ecosystem is helping the wider efforts on climate by removing extra CO2 from the atmosphere. With all carbon dioxide produced on the network offset by carbon credits, EOS is moving a step further.

Other than focus on their carbon footprint, ENF and partners will look to offset emissions via sustainable projects. The companies will also promote other green practices, including afforestation.

The post EOS becomes first “climate-positive” blockchain network appeared first on CoinJournal.