Schlagwort: crypto business

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Yuga Labs’ inaugural Bitcoin NFT auction nets $16.5M in just 24 hours

  • Yuga Labs has concluded its first inaugural Bitcoin Ordinal NFT collection auction.
  • The collection comprises a limited edition of 300 generative pieces inscribed on Satoshis on the BTC network.
  • The auction brought in $16.5 million for the firm in 24 hours.

Yuga Labs, Inc. announced its first Bitcoin Ordinal Non-Fungible token (NFT) collection auction in late February. The collection comprises a limited edition collection of 300 generative NFT pieces inscribed on Satoshis on the BTC network.

Yuga Labs described the collection as a “base 12 art system localized around a 12×12 grid, a visual allegory for the cartography of data on the Bitcoin blockchain.”

Yuga Labs has created several NFT collections including Bored Ape Yacht Club (BAYC), spinoff Mutant Ape Yacht Club (MAYC), and virtual land plots for the Otherside metaverse game. It also owns CryptoPunks and Meebits, two “blue chip” Ethereum NFT projects created by Larva Labs that Yuga Labs purchased their IP rights last year.

The highest bidder paid 7 BTC

There were a total of 288 bidders for the Bitcoin Ordinal Non-Fungible token (NFT) collection auction and the highest bidder paid 7 bitcoins (BTC).

The auction which was conducted on the TwelveFold NFT marketplace has been concluded and it has netted a total of (735 Bitcoin) $16.5 million in 24 hours.

Yuga Labs in a tweet said that the bid winners of the NFTs will receive their inscription in one week’s time and the successful bidders will be refunded their bid amounts within 24 hours.

However, despite the smooth running of the auction, Yuga Labs received some backlash from the crypto community over some identified flaws in how the auction was conducted.

The post Yuga Labs’ inaugural Bitcoin NFT auction nets $16.5M in just 24 hours appeared first on CoinJournal.

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Join the Fun: The Benefits of Playing Crypto Casino Games in 2023

The world of online gambling has been dramatically changed by the integration of cryptocurrencies. Crypto casino games offer players a new level of excitement and the opportunity to win real value as they play. 

In this article, we take an in-depth look at the benefits of playing at a crypto casino and why now is a good time to start. From the ability to play anonymously to the security and fairness provided by blockchain technology, crypto casino games offer a unique and highly rewarding experience. 

Whether you’re a seasoned player or just looking for a new type of entertainment, this article provides a comprehensive overview of why you should start playing cryptocasino games in 2023 on the best crypto gambling in the US.

Experiencing the Future of Online Gambling: The Benefits of Cryptocurrency

Cryptocurrency is changing the world of online gambling by allowing players to bet using digital currencies such as Bitcoin, Solana or Ethereum. This is made possible by the use of advanced blockchain technology. As more and more players become familiar with the benefits of using cryptocurrency for gambling, they are quickly gaining confidence in this innovative technology. 

Today, we’ll cover some of the key benefits of using cryptocurrency for online gambling, including increased security, anonymity and honesty. Join the future of online gambling and find out why using crypto currency is the way to play.

Anonymous Transactions in Online Casinos

Cryptocurrency transactions provide increased anonymity compared to traditional online casino payment methods. When using cryptocurrencies such as Bitcoin, players do not have to provide personal information such as name, address or credit card details. Instead, transactions are made through unique digital addresses, making it difficult for third parties to track the transaction. 

This anonymity is especially attractive to players who value their privacy or are concerned about the security of their personal information. In addition, anonymous transactions can help players avoid online gambling restrictions imposed by certain countries or regions. 

Overall, cryptocurrency offers a more secure and private option for online casino transactions.

Lower Transaction Fees

Another advantage of using cryptocurrencies in online casinos is the lower transaction fees compared to traditional payment methods. 

When using cryptocurrencies, transaction fees are usually only a fraction of the fees charged by traditional payment methods. This is because cryptocurrencies operate on a decentralized network, which eliminates the need for intermediaries and reduces transaction processing costs. 

In addition, some cryptocurrencies, such as bitcoin, have a fixed number of units that can be mined, resulting in less inflationary pressure and making the currency more stable. This stability, combined with lower transaction fees, makes cryptocurrencies an attractive option for players looking to minimize the costs associated with online gambling. 

Overall, lower transaction fees and the potential for increased financial stability make cryptocurrencies a worthy option for online casino players.

More Fair Games

Crypto Casinos offer a unique gaming experience that is much more attractive than traditional casinos. Unlike traditional casinos, crypto casinos use blockchain technology to offer provably fair games, where players can verify the fairness of each game result. This gives players more peace of mind and a higher level of trust in the games offered. 

In addition, cryptocurrency casinos often offer a wider variety of games, including games not typically found in traditional casinos. These games often feature innovative themes, graphics and game mechanics that are designed to provide a more exciting and engaging gaming experience. 

And as mentioned above, crypto-focused casinos often offer faster payouts, increased privacy and security, and the ability to play games from anywhere in the world. All of these factors contribute to a cooler gaming experience that traditional casinos don’t have. 

You can always choose your crypto slot on Coinplay and have some fun on our fair games!

Are all Casinos Switching to Crypto?

No, not all casinos accept cryptocurrency as a form of payment. While cryptocurrencies have become widespread in the gambling industry in recent years, there are still many casinos that only accept traditional payment methods such as credit cards, bank transfers and e-wallets.  

The decision to accept or not accept crypto payments often depends on various factors, including the jurisdiction in which the casino operates, the specific cryptocurrency in question, and the casino’s overall digital currency policy. 

However, given the growing popularity of cryptocurrencies and their potential for increased security and convenience for players, it is likely that more and more casinos will begin accepting cryptocurrencies in the near future.

Coinplay

Coinplay is the best choice for crypto gambling in 2023 for a number of reasons. Coinplay offers a wide range of games from leading providers, including a whole list of innovative games, as well as classics such as baccarat, poker, blackjack and roulette. Coinplay games ensure that players have access to the latest and greatest games in the industry. 

The platform also uses advanced blockchain technology to ensure the honesty and transparency of all games. This gives players the confidence that the platform is trustworthy. Additionally, Coinplay offers fast and secure transactions, as well as a user-friendly interface that makes it easy for players to start playing. 

Coinplay regularly offers players competitive bonuses and rewards, which further encourages them to try their luck on this platform. With its combination of top-notch games, cutting-edge technology and competitive bonuses, Coinplay is the top choice for crypto gambling in 2023.

The post Join the Fun: The Benefits of Playing Crypto Casino Games in 2023 appeared first on CoinJournal.

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Tether claps back at WSJ over “stale” FUD

  • Tether calls Wall Street Journal’s claims “stale allegations from long ago.”
  • The USDT issuer noted in a recent blog post that it adheres to all regulatory and legal requirements around KYC, AML and Counter Terrorism Financing.
  • Tether says FUD will not distract it from its role as the leading stablecoin.

Tether, the company behind the world’s largest stablecoin Tether (USDT), has repudiated a recent report about it and Bitfinex as “wholly inaccurate and misleading.” Bitfinex is a leading crypto exchange with ties to the USDT issuer.

On Friday last week, The Wall Street Journal published a report that claimed Tether and Bitfinex had used phony documents and entities to gain and maintain access to bank accounts. 

Per the report, the fake documents allowed the cryptocurrency companies to access banking services that would otherwise have not been extended to them.

Tether says WSJ report is “misleading”

Tether dismissed the allegations by the Wall Street Journal in a blog post published on 3 March. Striking back at the media outlet, Tether said the report had brought out “stale allegations from long ago,” and noted the claims against it were misleading.

Accordin to Tether, just as Bitfinex, its operations are anchored on “world-class compliance programs.” 

Specifically, the two companies have and continue to adhere to all the applicable Know Your Customer (KYC), Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) requirements.

As well as adhering to the above legal requirements, both platforms have partnered with global law enforcement to further compliance and help the broader crypto ecosystem, Tether noted. This includes voluntarily working with the US Department of Justice and multiple other law enforcement agencies across the world to combat money laundering and terrorism.

As for the WSJ report, the team says it is yet another attempt at using FUD (fear, uncertainty and doubt) against it. However, this “unfair attack” won’t distract Tether from its role within the crypto industry – which is to continue being the most liquid and most reliable stablecoin.

Bitfinex and Tether CTO Paolo Ardoino slammed the WSJ as being obsessed with spreading FUD about the two crypto companies. He tweeted the sentiments while at the PlanB anniversary in Lugano, Switzerland.

The crypto market reacted sharply to the Tether news, with the price of Bitcoin plummeting further after another sell-off linked to another news development around the Silvergate Bank. BTC price nosedived to lows of $22,000 before seeing a minor bounce over the weekend.

Although the Tether team did not comment on the impact on markets, they noted that the company does not have exposure to Silvergate. 

The post Tether claps back at WSJ over “stale” FUD appeared first on CoinJournal.

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Kraken confirms plans to launch its own bank

  • Kraken says the crypto bank is on track for launch.
  • The crypto exchange will initially offer the Kraken Bank services to customers in the US.
  • The launch of a new crypto-friendly bank comes at a time the crypto bank Silvergate continues to falter after the collapse of FTX.

Kraken will soon be launching its own bank, the cryptocurrency exchange has confirmed.

A tweet from the official Kraken Support account noted the Kraken Bank was on track and will initially be available to the crypto platform’s customers in the US.

Crypto publication The Block also highlighted the news on Monday morning, citing details from Marco Santori, the chief legal officer at Kraken.

Kraken to launch crypto bank

Kraken says plans for its Wyoming-based crypto bank is an initiative that followed it being granted the Special Purpose Depository Institution, or SDPI approval. The exchange was thus the first crypto company to receive a US state banking charter.

The exchange’s plans for a bank comes as the crypto sector navigates the latest episode of a crypto-related downturn as crypto-friendly bank Silvergate wades through a difficult time. The US-based crypto bank has continued to witness financial gloom since the collapse of crypto exchange FTX.

Kraken itself has also been under increased regulatory pressure, recently agreeing a multi-million dollar settlement with the US Securities and Exchange Commission (SEC) over the exchange’s staking services.

The SEC has also increased its regulatory actions against crypto companies, with stablecoin issuer Paxos one of those facing the agency’s charges. Crypto lender Nexo also recently agreed to a settlement with the SEC a few weeks after announcing a phased out exit from the US market.

The post Kraken confirms plans to launch its own bank appeared first on CoinJournal.

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BTC price: Bitcoin sees “boring action” with only $17.8M in weekly net flow

  • Bitcoin on-chain exchange flows were $4 billion in and $4 billion out last week, Glassnode data shows.
  • Crypto analyst Michael van de Poppe highlights BTC’s “boring price action” as bulls struggle above $22,000.
  • BTC price saw downward action last week following a series of negative market related news.

The global cryptocurrency market cap remains above the $1 trillion mark, with the past 24 hours seeing roughly 0.6% in downward change. The global trading volume in the last 24 hours is around $38.9 billion.

But while Bitcoin (BTC) dominance hovers at 40.4%, the price action has weirdly remained more like a stablecoin. As noted on Sunday, Bitcoin managed to bounce off the $22,000 low reached as markets reacted to news related to Silvergate and Tether (USDT).

Bitcoin price continues to hover above $22k

Weekly on-chain exchange flow, a metric that shows the difference in BTC volume flows onto and off exchanges, points to the aforementioned flat action for Bitcoin price. The net flow aligns with the largely doji candlesticks the leading crypto by market cap has witnessed since last week.

Popular crypto analyst and trader Michael van de Poppe has highlighted the “boring price action” for Bitcoin since last week’s sharp retreat.

According to the analyst, BTC is still poised for a fresh bounce higher as bulls hold above key support. He also points to equities and notes a bounce for indices is likely to cascade into the crypto market. However, if a new “sweep of the lows” to $21,500 fails to hold, it could spell further losses for BTC.

BTC sees $17.8 million in weekly net flows

As for the net flow, data from on-chain analytics platform Glassnode shows about $17.8 million in net flows, with $4 billion in inflows and roughly $4 billion in off-exchange flows last week.

The net flow for Ethereum, the second largest cryptocurrency by market cap and with over 17% of market dominance, was about $423.8 million. The leading altcoin’s exchange flows was $2 billion in on-chain inflows and $2.4 billion in outflows this past week.

On the other hand, the leading stablecoin Tether (USDT) saw weekly net flows of about 160 million, with total $6 billion flowing into exchanges and $6.2 billion withdrawn.

The post BTC price: Bitcoin sees “boring action” with only $17.8M in weekly net flow appeared first on CoinJournal.