Posts

Mercado Bitcoin parent company 2TM raises $50M, further cementing unicorn status

Image
The Series B builds off 2TM’s massive $200 million SoftBank-led raise in July, which catapulted the company to a $2.1 billion valuation. 2TM, the parent company of Brazilian cryptocurrency exchange Mercado Bitcoin, has received $50.3 million in fresh financing to expand its operations across Latin America, sending a strong signal that venture capital sees growth potential in the region.  The Series B fundraiser had participation from United States-based funds 10T and Tribal Capital, as well as Brazilian companies Traders Club, Pipo Capital and Endeavor, the company disclosed Tuesday. The funding round further cements 2TM’s status as a crypto unicorn after the company raised $200 million from SoftBank in July. At the time, Mercado Bitcoin was the second Latin American cryptocurrency exchange to eclipse the $1 billion valuation mark. Brazil’s first #Bitcoin exchange, Mercado Bitcoin, just raised $200m from SoftBank! - CoinTelegraph — Bitcoin Archive (@BTC_Archive) July 1, 2...

CBDC is a tool to combat Bitcoin, says Bank of Indonesia exec

Image
“CBDC would be part of an effort to address the use of crypto in financial transactions,” Bank of Indonesia’s assistant governor Juda Agung said. Central bank digital currencies (CBDC), digital versions of national currencies introduced in response to growing cryptocurrency adoption, would be an essential tool for combating crypto, according to the Bank of Indonesia. The central bank of Indonesia is considering launching a digital rupiah to “fight” against cryptocurrencies like Bitcoin ( BTC ), Bank of Indonesia’s assistant governor Juda Agung said at a recent parliamentary meeting. “A CBDC would be one of the tools to fight crypto. We assume that people would find CBDC more credible than crypto. CBDC would be part of an effort to address the use of crypto in financial transactions,” Agung stated , according to a Nov. 30 Bloomberg report. The official noted that cryptocurrencies like Bitcoin are currently traded alongside commodity futures and regulated by the trade ministry despi...

Binance CEO reveals one key factor for token listings

Image
The number of users plays a critical role for a token to get listed on Binance, Changpeng Zhao said in an interview. The CEO of Binance, the world’s largest cryptocurrency exchange by volume, has disclosed some information on how to get listed on the trading platform. The most important criteria for listing a cryptocurrency on Binance is the number of users, CEO Changpeng Zhao said in a Forbes interview on Nov. 29. CZ went on to say that there are many other factors like the number of active addresses on blockchain, social media audience and code commits. However, the number of users is “the key metric,” he said: “If a coin has a large number of users, then we will list it. That’s the overwhelming significant attribute. Consider for example meme tokens, even though I personally don't get it, if it's used by a large number of users we list it. We go by the community, my opinion doesn’t matter.” According to Binance’s listing tips from its CEO, the number of users is jus...

India misinterpreted private crypto ban, says crypto bill creator

Image
India's former finance secretary Subhash Garg clarified that "it is misleading to say that private cryptocurrencies will be banned." The creator of India’s crypto bill, former Finance Secretary Subhash Garg, dismissed the notion of banning “private cryptocurrencies” as a misinterpretation while highlighting the enormous potential of cryptocurrencies and blockchain technology. The Parliamentary discussions around a controversial crypto bill sparked fears around the ban on cryptocurrencies, with no clear indication about the ban's scope. As Cointelegraph reported,  an episode of panic selling among Indian investors  followed the announcement. In an interview with local news channel News 18, Garg clarified: “[The description of the crypto bill] was perhaps a mistake. It is misleading to say that private cryptocurrencies will be banned and to intimate the government about the same.” He believes that the Indian government should formulate a bill after discussing it w...

Bitcoin cools from 1-week highs with key long-term metric echoing $44K

Image
A "bullish engulfing" enters on multi-day charts as BTC price action manages to preserve some of Monday's gains. Bitcoin ( BTC ) returned to cement higher support on Nov. 30 after the latest BTC price comeback halted near $59,000. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView RSI sees "bullish engulfing" Data from Cointelegraph Markets Pro and TradingView  showed BTC/USD reversing to local lows of $55,920 on Bitstamp overnight. The pair then recovered to circle $56,500 at the time of writing, with analysts keeping the faith on higher timeframe strength. Popular Twitter personality TechDev noted that Bitcoin's stochastic relative strength index (Stoch RSI) had "reset" to levels that echo BTC/USD at $44,000 — just before the run, which culminated in all-time highs. "Bullish engulfing printed on stoch RSI cross with RSI reset to 44K levels," he summarized alongside the 3-day chart.  Bitcoin's late strength Mond...

Kraken exchange defies competitors’ regulatory concerns with SHIB listing

Image
The move comes in contrast to other digital asset exchanges like Robinhood, which have avoided listing altcoins such as SHIB over regulatory concerns. United States-based digital asset exchange Kraken has announced it will begin supporting the viral meme coin Shiba Inu (SHIB) as of Nov. 30. There will be a minimum deposit of 373,000 SHIB ($16 USD), and the minimum trading volume is 50,000 SHIB ($2 USD). SHIB will initially be tradeable against the USD and Euro pairs, however, Kraken Futures and Margin Trading for SHIB won’t be available at launch. New Listing on Kraken: @Shibtoken $SHIB deposits begin NOW! Trading is live November 30. ➡️ Learn more: https://t.co/yUUKaBXKBq pic.twitter.com/L2IUHugyG0 — Kraken Exchange (@krakenfx) November 29, 2021 Australian managing director at Kraken Jonathon Miller told Cointelegraph that the crypto marketplace supports projects with a clear demand for trading, including SHIB. At the time of publishing, SHIB is the 12th-largest crypto...

Ethereum privacy protocol Tornado Cash to launch on L2 Arbitrum

Image
Once fully deployed, users will be able to make private transactions through the popular Tornado Cash mixer on the Arbitrum layer two network. Tornado Cash is about to get a scaling boost as the privacy protocol prepares for deployment on the Ethereum layer two network Arbitrum.  Tornado Cash’s smart contracts are ready to roll on thArbitrum Layer 2 scaling network following contributions from the community to ensure the stability of the protocol. The Nov. 29 announcement explained that deploying on Arbitrum will “allow users to take advantage of all the benefits a Layer 2 can offer, with cheaper transactions being the biggest comparative advantage.” Tornado Cash is a fully decentralized Ethereum ( ETH ) mixer protocol. Tornado Cash masks the path that tokens such as ETH take from sender to receiver, providing completely private transactions without the need to use privacy-focused coins. Layer two networks on Ethereum boast faster transactions and cheaper fees while still b...