Autor Cointelegraph By Jesse Coghlan

Aussie convenience store giant to accept crypto at 170 outlets

Aussie convenience store giant to accept crypto at 170 outlets

Uverejnil používateľ | apr 4, 2022 |

Convenience store and gas station giant On The Run (OTR) will soon accept crypto payments at its 170 outlets across South Australia and Victoria. The move will allow customers to pay for gas, snacks, and even a Subway foot long in over 30 cryptocurrencies.OTR’s parent company the Peregrine Corporation, one of the largest privately-owned companies in South Australia, will also be accepting crypto at its Subway, Oporto, and Smokemart stores. Once the system is finalized in July, it will become the largest business in the country to accept in-store crypto payments.The company is working with Singapore-based exchange Crypto.com to implement its Pay Merchant service as its payment settlement layer. Datamesh, a Sydney-based payment systems provider, will roll out point of sale terminals allowing shoppers to pay through the Crypto.com app with their cryptocurrency holdings.Yasser Shahin, Peregrines’ executive chairman, stated that accepting crypto payments was an opportunity to jump on board with the growth of cryptocurrencies, adding:“The growth and mainstream acceptance of cryptocurrency adoption in Australia and the rest of the world has been phenomenal, and has offered us a clear opportunity to tap into the momentum of this fast-growing space for the benefit of our customers.”Related: Aussie crypto ‘finfluencers’ face tough new legal restrictionsA survey by Crypto.com released in February revealed that only 4% of globally surveyed merchants were already accepting cryptocurrencies as payment, although nearly 60% of merchants were interested in accepting payments within the next year.In comparison, around 40% of customers globally are already paying using crypto, and the other 60% said they’re interested in paying with crypto within the next 12 months.Of the industry sectors most willing to adopt cryptocurrencies, retail and grocery merchants tied with luxury goods providers, with 80% in each category enthusiastic about accepting crypto payments.With cryptocurrency use in Australia becoming more prevalent, the Australian government is navigating how to regulate and address its usage. In March, Senator Andrew Bragg announced the Digital Services Act (DSA), a legislative proposal aimed at reforming market licensing, custody, and taxes, stating he wants to see Australia become a “crypto hub” and that the country is “open for business”.

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Binance wins dismissal of class action over 2018 tokens that tanked

Binance wins dismissal of class action over 2018 tokens that tanked

Uverejnil používateľ | apr 1, 2022 |

A federal judge has dismissed a class action complaint asserting Binance violated United States securities laws by not registering as a broker-dealer or exchange and sold crypto tokens that were not registered with the U.S. Securities and Exchange Commission (SEC).The original complaint filed in the U.S. District Court for the Southern District of New York was brought by a group of investors who say they invested in the tokens EOS, BNT, SNT, QSP, KNC, TRX, FUN, ICX, OMG, LEND, ELF and CVC around 2017 and 2018. An amended complaint was filed, only listing nine tokens, with BNT, SMT and CVC removed.The investors said the tokens had lost much of their value since purchasing and were seeking compensation for the price paid for the tokens and the fees paid to Binance in connection with their purchases.“Binance and the Issuers wrongfully engaged in millions of transactions, including the solicitation, offer, and sale of securities, without registering the Tokens as securities, and without Binance registering with the SEC as an exchange or broker-dealer. As a result, investors were not informed of the significant risks inherent in these investments, as federal and state securities laws require.”The investors further claimed that Binance capitalized on the enthusiasm brought on by cryptocurrencies, marketing tokens and initial coin offerings (ICOs) on behalf of projects and profited off the associated trading fees, adding that investors “purchased the tokens with a reasonable expectation of profit from owning them.”In his decision on Thursday, judge Andrew Carter said that as the investors waited more than a year after purchasing the tokens to file the complaint, they had sued too late. Most of the tokens were purchased in 2018 and the original filing wasn’t until April 2020.The investors argued that as the SEC published a framework asserting digital tokens were securities in April 2020, the timeline for complaint submission should have started then. Carter found that the relevant laws apply when the supposed violation occurs, not when it is detected.Judge Carter also said that domestic securities laws are not applicable to Binance, as it is not a domestic exchange in the U.S., being headquartered in the Cayman Islands. Binance does use Amazon Web Services to host its infrastructure and that is based in the U.S., but that isn’t enough to consider Binance as a domestic exchange.Related: Voyager ordered by New Jersey to ‘cease and desist’“Plaintiffs must allege more than stating that plaintiffs bought tokens while located in the U.S. and that title passed in whole or in part over servers located in California that host Binance‘s website,” Carter wrote in the motion.This isn’t the only class-action lawsuit filed against a crypto exchange on such grounds. On March 11, a suit was filed against Coinbase in the same court, alleging that it‘s operating as an unregistered securities exchange. Similar arguments are being directed at Coinbase, with plaintiffs saying they were not warned of the risks of cryptocurrency investments.Binance did not immediately respond to Cointelegraph’s request for comment.

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Nifty News: Solana NFTs on OpenSea in April, Ross Ulbricht's new collection… and more

Nifty News: Solana NFTs on OpenSea in April, Ross Ulbricht's new collection… and more

Uverejnil používateľ | mar 30, 2022 |

Solana (SOL) NFT holders will soon have a new option for where to trade, with OpenSea teasing its integration of the Solana blockchain.A 16-second video shared by the OpenSea Twitter account opened with the phrase “wen solana???” being typed into a search box and revealed that Solana will be supported by the marketplace in April.The best kept secret in web3 pic.twitter.com/xuZn64cZ4U— OpenSea (@opensea) March 29, 2022Rumors of OpenSea supporting Solana NFTs have circulated for months. Security researcher Jane Manchun Wong — who made Forbes 30 under 30 for her high profile tech leak scoops — shared images on Twitter in January she said were sourced from OpenSea’s platform.The images show the marketplace’s “blockchains filter” listing Solana as an option and the Phantom Solana crypto wallet appearsg in a list of supported wallets. OpenSea’s Chains Filter showing Solana as an option pic.twitter.com/asQoYrfTm4— Jane Manchun Wong (@wongmjane) January 25, 2022

OpenSea coyly replied to Wong’s tweet with a “wide eyes” emoji at the time, but didn’t outright confirm or deny the authenticity of the claim.Many popular Solana NFT projects have announced their intention to list with OpenSea in April, including SolPunks, Turtles, Remnants and the Degenerate Ape Academy.The Solana integration will pitch OpenSea in direct competition with Magic Eden, Solanart, and Solsea, the current leading NFT marketplaces on the Solana blockchain.Mistake or hack? Bored Ape NFT sells for $140An OpenSea user by the handle “cchan” has sold a Bored Ape NFT and a Mutant Ape NFT for a combined value of $140.A user made offers on the NFTs which were accepted by cchan and the sales were made to the within a minute of each other on Monday, Mar. 28, with BAYC #835 sold for 115 DAI, and MAYC #11670 sold for 25 DAI which is 99% under the current floor price.DAI is a US dollar stablecoin with a diamond logo and it’s unknown if cchan mistook the offers to be in Ethereum (ETH) which would’ve been the equivalent of $470,000, or if the sales weres the result of a hack.Activity by the user who purchased the NFTs shows a history of offers being made in DAI on Bored and Mutant Ape NFTs, which some have suggested could be in the hopes that this exact set of circumstances would occur.Silk Road Founder to launch new NFTs at Bitcoin MiamiRoss Ulbricht, the imprisoned founder of the defunct darknet marketplace “Silk Road” is set to release another collection of NFTs at the Bitcoin 2022 conference in Miami in April, with funds raised going toward helping children travel to visit their parents in prison.In December 2021, Ulbricht auctioned a collection at the Art Basel Miami which netted him $6.2 million. The collection was purchased by FreeRossDAO, a decentralized autonomous organization that aims to “share Ross’s work with the world and give everyone a unique opportunity to own a piece of it.”“All of this has brought a new spark to my life,” Ross wrote in a post, reflecting on the sale of his last collection.“I have direction and purpose and I feel like I can make a difference again. The more money we raise, the more good we can do, so I have been busy creating my next art collection.”Dubbed the “Growth Collection”, it will be minted on the Bitcoin blockchain via Counterparty, and the piece will reportedly feature four physical oil paintings and one hand-drawn animation, accompanied by five Bitcoin NFTs to be auctioned on the Scarce.City network.Related: NFTs are changing the way photographers create and market contentUlbricht is serving two life sentences without the possibility of parole for his part in creating the illicit online marketplace, which famously used Bitcoin as the means of transaction.WWE and the MetaverseThe WWE has partnered with Fanatics, a sports marketing business which, amongst other offerings, enables brands to offer digital collectibles and NFTs to their audience.The partnership will see Fanatics create “physical, digital, and non-fungible token (NFT) trading cards” for the WWE, with Fanatics to become the exclusive provider of licensed WWE physical and NFT trading cards, building a range featuring WWE’s “biggest moments and stars.”Other Nifty NewsMark Karpelès, the former CEO of the defunct Mt. Gox exchange announced that users who used the exchange between 2010 and 2014 around the time it was hacked, are eligible to register for a free NFT in the hopes it will “erase a bit of the loss incurred in Mt. Gox.”The Decentraland metaverse hosted the Metaverse Fashion Week between March 24-27, 2022, the event attracted over 70 big name fashion labels and artists such as Tommy Hilfiger, Dolce and Gabbana, and Estée Lauder.

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Greenpeace, Ripple co-founder campaigning to change Bitcoin code

Greenpeace, Ripple co-founder campaigning to change Bitcoin code

Uverejnil používateľ | mar 29, 2022 |

Greenpeace, along with other climate groups, and co-founder and executive chairman of Ripple, Chris Larsen, has launched a new campaign aimed at changing Bitcoin (BTC) to a more environmentally friendly consensus model.The “Change the code, not the climate” campaign aims to pressure key industry leaders, Bitcoin miners, and influencers like Elon Musk, and Jack Dorsey, into moving over to a new consensus model saying:“If only 30 people — the key miners, exchanges, and core developers who build and contribute to Bitcoin’s code — agreed to reinvent proof-of-work mining or move to a low-energy protocol, Bitcoin would stop polluting the planet.”Greenpeace cites concerns that the energy required to mine Bitcoin comes mostly from fossil fuels, and that miners are using coal waste and associated natural gas as ways to fuel their operations.Greenpeace accepted Bitcoin donations for seven years between 2014 and May 2021 before announcing it was halting acceptance of Bitcoin donations, citing environmental concerns. Around the same time, Tesla CEO Elon Musk stopped accepting Bitcoin payments for Tesla vehicles also.Ethereum (ETH), which currently relies on the same proof-of-work mechanism as Bitcoin, is in the final stages of a lengthy and complicated process to a new proof-of-stake mechanism. Greenpeace says proof-of-stake is much less environmentally harmful due to its lower energy consumption.“Now with Ethereum changing, Bitcoin really is the outlier,” Larsen said to Bloomberg in an interview published on March 29. “Some of the newer protocols, Solana and Cardano are built on low energy,” he added.Larsen stated he owns Bitcoin and Ethereum and wanted to see both cryptocurrencies succeed, but that Bitcoin is heading down an unsustainable path. He added that if he had concerns about Bitcoin as competition for Ripple, he would let it continue.Related: In defense of crypto: Why digital currencies deserve a better reputationSome of the largest Bitcoin mining companies hold in excess of 5,000 BTC, upward of $237 million at current prices, and data shows that those with the most Bitcoin reserves are increasing their hash rate.Greenpeace does note this in its manifesto, saying they understand Bitcoin stakeholders have an incentive not to change, as changing Bitcoin would make their expensive equipment much less valuable, meaning sunk costs or “other creative solutions” would have to be implemented.Chris Bendiksen, a Bitcoin researcher at CoinShares was quoted in the report saying:“I’d put the chance of Bitcoin ever moving to PoS at exactly 0%. There is no appetite among Bitcoiners to destroy the security of the protocol by making such a move.”Greenpeace did not immediately respond to a request for comment.

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Institutional crypto funds see largest capital inflows for 3 months

Institutional crypto funds see largest capital inflows for 3 months

Uverejnil používateľ | mar 29, 2022 |

CoinShares data revealed on Tuesday that institutional investments into cryptocurrencies are at the highest levels in three months, a sharp rise from the previous week which saw outflows of $47 million.The Digital Asset Fund Flows Weekly Report revealed that investment products for digital assets saw total inflows of $193 million last week, a level not seen since early December 2021.The last time investment levels were near the current figure was in the week ending on Dec. 3, which saw $184 million worth of inflows.The fund flows had a big focus on Bitcoin (BTC), with just over 50% of the capital going into products based on BTC, which saw inflows totaling $98 million. Solana (SOL) was runner-up, seeing $87 million inflows for the week, a figure that CoinShares says is the “largest single week of inflows on record.” SOL-based funds now represent 36% of assets under management with institutional firms, the largest altcoin after Ether (ETH). ETH-based funds saw inflows last week totaling just $10.2 million.Europe was the significant contributor, with firms seemingly bolstered by the news that the bill banning proof-of-work (PoW) mining did not pass. 76% of inflows, or about $147 million, came from the region last weekThe figures from the report are in sharp contrast to the data the week prior, which saw $49.4 million withdrawn from BTC and ETH from mostly North American firms with concerns regarding increasing crypto regulations.Related: IOSCO says DeFi is quickly evolving and ‘cloning financial markets’The inflows of cash by institutional firms correlate with the price of Bitcoin seeing a recent surge above $48,500 at one point. The same was true with Ether which broke out over $3,300.Last week, executives from crypto firms Nexo and Amber Group discussed the ”exponential” growth of institutional investment into cryptocurrencies at the Blockchain Africa Conference 2022, saying that while there‘s an increase in institutional onboarding, there might still be barriers to entry. Kalin Metodiev, co-founder and managing partner at Nexo, said most firms may claim that the crypto market is “still too volatile.”

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