The BioMedWire Podcast

CryptoCurrencyWire (“CCW”) communications director Jonathan Keim reported as usual on some of the major developments in the crypto space, beginning with the headline: “Adoption: 101 Million Users Joined Crypto in 2020, According to Cambridge Report” (https://ccw.fm/F5Te8). A study by Britain’s University of Cambridge and its Centre for Alternative Finance shows that 2020 has been a bumper year for cryptocurrencies. The report reveals that 101 million unique users signed up for Bitcoin and crypto-asset usage with service providers, such as cryptocurrency trading platforms and wallets, in Q3 2020.

The Cambridge Report numbers indicate that the mining business is alive and well, although it has suffered contraction over the past year, with many outfits targeting more than one cryptocurrency.  The report notes that approximately 89% of crypto mining respondents are mining Bitcoin (“BTC”), with 35% mining ether (“ETH”), and with bitcoin cash at 30%.

Next on Keim’s Weekly News Update was the headline: “Payments Platform Wirex Reaches Target for First Crowdfund in 1 and a Half Hours” (https://ccw.fm/mLRBh). Capitalizing on increasing awareness of its platform, British digital payments processor Wirex was able to raise £1 million, as planned, in record time. The company also exceeded the fundraising target by taking in £1.6 million, an amount likely to increase, since its crowd-funding campaign seems set to remain open for some time.

Wirex is the first cryptocurrency platform to be granted a MasterCard principal membership. The processor plans to issue a multicurrency Wirex Card, which will be supported by MasterCard and linked to 19 crypto and fiat currency accounts in the Wirex app. Wirex is regulated by the U.K.’s Financial Conduct Authority, with a license to issue crypto cards in Europe.

Last but most definitely not least, comes a warning from U.S. Financial Crimes Enforcement Network (FinCEN) director Kenneth Blanco: “FinCEN Director Warns Banks about Cryptocurrency Risk Exposure” (https://ccw.fm/1Iu9R). At a recent anti-money-laundering (“AML”) conference, the FinCEN chief reminded banks about their obligations to institute effective AML policies, particularly with regard to cryptocurrency transactions.

In 2019, crypto analytics firm CipherTrace Labs found that eight of the ten major U.S. retail banks had done business with illicit crypto money service businesses (“MSBs”). Many MSBs provide cryptocurrencies to customers in exchange for cash, a service which while not illegal per se, requires the MSB to be regulated. Individuals too have fallen foul of the law. Again, buying or selling a cryptocurrency is not in itself illegal but doing so “as a business” is. Conducting more than a handful of transactions can get someone accused of operating an unlicensed money-transmitting business, an offense that carries up to five years behind bars.

To view the most recent episode of the Wild West Crypto Show, now on TV in 45 cities across the nation, including its ongoing segment from CryptoCurrencyWire featuring the latest news from around the world, visit https://ccw.fm/weke4.

The first item on Jonathan Keim’s news update this episode, was this headline: There Are Now Over 10,000 Bitcoin ATMs Throughout the World (https://ccw.fm/pff4o). Bitcoin retail transactional capacity has progressed rapidly since Bitcoin ATMs first made their appearance in 2013. The seven years it has taken to reach 10,000 machines means their deployment has been one and a half times faster than that of regular cash ATMs in the 1970s. And although the first machine was installed in Vancouver, British Columbia, at the Waves Coffee House, presently the majority of Bitcoin ATMs can be found in the United States

The second headline on Keim’s list stated this: Cryptocurrencies Are Primary Investments for Many, Finds New Huobi Survey (https://ccw.fm/KIx6D). A Huobi (pronounced HO-BE) study has revealed that in “emerging markets across Europe, Asia, Africa, and South America,” many new consumers of financial products are purchasing “digital assets like Bitcoin (‘BTC’) and ether (‘ETH’),” instead of more established ones, such as stocks, bonds and mutual funds.

Digital assets appear to be a greater attraction for the less-experienced consumer, which may contribute to greater volatility in the cryptocurrency markets. Huobi is a cryptocurrency exchange with headquarters in Singapore. The name has been translated variously as “hot coin” or “popular coin.”

Finally, Keim’s last headline: Are We Dumb? Financial Illiterates ‘Twice as Likely to Own Crypto.’ This news seemed to validate the results of the Huobi survey (https://ccw.fm/xwZwg). An investigation by Canada’s central bank indicates that “financial literacy is positively associated with the awareness of cryptocurrencies but negatively associated with ownership.” The Bank of Canada’s 2019 Cash Alternative Survey reveals that while many Canadians are familiar with both established and crypto financial products, very few of these financially literate consumers “actually hold any crypto assets.”

Crypto assets, it seems, are purchased mainly by the less informed as financial neophytes, lured by the high expected returns, fail to take account of the risks. Not only are cryptocurrency markets notoriously volatile but they appear to operate independently of economic conditions in the real world, making it difficult if not impossible to identify their intrinsic characteristics, which is why the Wild West Crypto Show advises: never risk more than you would risk on a roll of dice in Vegas.

To view the most recent episode of the Wild West Crypto Show, now on TV in 45 cities across the nation, including its ongoing segment from CryptoCurrencyWire featuring the latest news from around the world, visit https://ccw.fm/xWxXJ.

Jonathan Keim, communications director of CryptoCurrencyWire, made his usual weekly cameo appearance. This week, his trio of news updates began with a headline that shows how, in the Bitcoin world, detractors become disciples: After $250 Million Bitcoin Buy, MicroStrategy Eyes More (https://ccw.fm/mn5ze).

Back in 2013, Michael Saylor, CEO of Nasdaq-listed data analytics firm MicroStrategy, tweeted, “Bitcoin days are numbered. It seems like just a matter of time before it suffers the same fate as online gambling.” Now, seven years later, the MicroStrategy chief appears to have had an epiphany. His company recently purchased a quarter of a billion dollars’ worth of Bitcoin, announcing the transaction with the declaration that Bitcoin “as the world’s most widely adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash.”

Next up Keim shared this news: “Thai Central Bank’s New Blockchain-Enabled Bond Infrastructure Passes Test with $1.6B Bond Sale” (https://ccw.fm/HEsIA). Monetary authorities in Thailand have managed to sell government savings bonds to the tune of 50 billion baht (approximately $1.6 billion) in just one week. A release issued by the Bank of Thailand said the blockchain-enabled platform would “enhance investors’ buying experience, improve operational efficiency and reduce overall cost.” Thailand has enthusiastically embraced blockchain technologies and applications, including cryptocurrencies. To date, Thai regulators have approved 13 crypto businesses, including cryptocurrency exchanges, brokers and dealers, to legally operate in the country.

In Keim’s last report — no one can refuse China’s digital currency, says central bank exec — authorities in the People’s Republic have stamped the soon-to-be-issued digital yuan with their imprimatur (https://ccw.fm/XzAiN). In a recent press release, the deputy governor of China’s central bank said the digital currency would be on par with existing fiat money. China’s digital currency — digital currency electronic payment, or DCEP — has yet to be launched, but trials on its use have been underway for some time, according to a Bloomberg report (https://ccw.fm/JKVID). There is speculation that its debut may coincide with the 2022 Winter Olympics, set for Feb. 4–20, 2022.

To view the most recent episode of the Wild West Crypto Show, now on TV in 45 cities across the nation, including its ongoing segment from CryptoCurrencyWire featuring the latest news from around the world, visit https://ccw.fm/a1w8n.

Jonathan Keim, communications director of CryptoCurrencyWire, weekly news update began with a report that shows the lines between crypto and fiat are blurring: a new matching engine from Nasdaq Market Technology puts Bitstamp’s tech on par with the world’s top traditional exchanges (https://ccw.fm/ZztQK). Founded in 2011, Bitstamp is an exchange in Luxembourg that facilitates trading between U.S. dollars and Bitcoin. It is one of the earliest cryptocurrency exchanges and is presently Europe’s largest by trade volume.

With its adoption of the Nasdaq technology, Bitstamp will be able to manage the full range of trading functions — from price formation to order matching — for a wide range of assets. Nasdaq makes it technology available to exchanges and traders through its marketplace technology unit.

In other news, the major card networks are upping their cryptocurrency game: MasterCard launches digital currency kit for central banks (https://ccw.fm/QTDYx). MasterCard has launched a blockchain-based platform that it hopes will win influential new customers, namely central banks.

The Central Bank Digital Currencies Testing Platform, as it is known, will offer a way to experiment with the issue of digital currencies, perhaps ushering in a wave of sweeping change to current payment systems. Although cryptocurrencies such as Bitcoin are digital currencies, central bank-issued digital currencies would differ in that they would be regulated by a government authority and require proof of identity to use, just like fiat.

Finally, a headline that’s sure to grab attention: Buffett dumps Wells Fargo, amplifying bull case for gold and Bitcoin (https://ccw.fm/qf1fH). Famed investor Warren Buffett has sold 100 million shares, a large part of his stake in Wells Fargo, after the bank posted a loss of $2.4 billion in the second quarter, its first quarterly loss since the financial crisis of 2008. The drastic decline in earnings stems from the unusually high loan loss provisions made, as the coronavirus pandemic raises default risks for customers.

The report raises moot points. How exactly selling shares in America’s fourth-largest bank benefits Bitcoin is not clear, nor is how the share sale amplifies the “bull case for gold and Bitcoin.” Nevertheless, in some quarters, the cryptocurrency is considered to be a safe haven, despite having a volatility about twice that of gold (https://ccw.fm/HcifU).

To view the most recent episode of the Wild West Crypto Show, now on TV in 45 cities across the nation, including its ongoing segment from CryptoCurrencyWire featuring the latest news from around the world, visit https://ccw.fm/kVEgU.

Jonathan Keim, communications director of CryptoCurrencyWire (“CCW”), called in with his usual weekly update, which began with a revelation that may startle the IRS. Residents of Switzerland’s canton of Zug, aptly named Crypto Valley, now have the option of paying their taxes in Bitcoin (“BTC”) and ether (“ETH”) (https://ccw.fm/1USWE). Zug acquired the crypto label because of its crypto-friendly policies.

Despite its size — population of 30,000 — the small town is home to cryptocurrency exchange Shapeshift, as well as the Ethereum Foundation. Opening its arms to the latter has proven to be a game changer. The presence of the Ethereum Foundation has precipitated an entire ecosystem of service providers and developers within the community. With this latest pronouncement, which allows companies and private individuals to pay taxes up to an amount of 100,000 Swiss francs ($109,670), the canton maintains its place as a leader in crypto regulation.

In other news, social content publishing platform The Capital claims that Bitcoin is now the sixth-largest world currency (https://ccw.fm/YpEMB). The Capital report states that “at its current market cap, Bitcoin has a money supply worth more than 170 different fiat currencies,” which is a good indication that contrasting the money supply of various world currencies to Bitcoin valuation may be a bit of an apples-to-oranges comparison.

Despite being dubbed a currency, Bitcoin seems to lack three essential characteristics — medium of exchange, store of value and unit of account — that money must have. Many businesses and individuals will transact in Bitcoin, but the currency is still not widely enough accepted to be a medium of exchange. Moreover, its price fluctuations make it ill-suited to qualify as a store of value or a unit of exchange.

Keim’s final headline, CFTC Greenlights LedgerX Request to Move Beyond Digital Currency Products, shows regulators are warming to the idea of digital assets (https://ccw.fm/QgqEK). The CFTC has announced its approval of the LedgerX application to offer fully collateralized futures and options products in addition to the digital asset swaps it already provides. The CFTC order effectively removes the distinction between derivatives on digital assets and those with more established bases, such as commodities, stocks, bonds, interest rates and currencies. Now investors should find it a tad easier to cut risk as they search for returns in the current pandemic-plagued environment.

To view the most recent episode of “The Wild West Crypto Show,” now on TV in 45 cities across the nation, including its ongoing segment from CryptoCurrencyWire featuring the latest news from around the world, visit https://ccw.fm/PlMwA

Jonathan Keim, director of communications at CryptoCurrencyWire, joined the show and brought everyone up to speed with developments in the crypto space. The big headline for the day: Fidelity President Files for New Bitcoin Fund (http://ccw.fm/2Res2).

If anyone had doubts that cryptocurrencies are now totally mainstream, they can lay that uncertainty to rest. America’s largest 401(k) provider, Fidelity, plans to start a new fund entirely devoted to Bitcoin. Called the Wise Origin Bitcoin Index Fund I, the fund may boost the investing behemoth’s assets under management (“AUM”), which presently stand at $8.3 trillion.

Fidelity has been an early supporter of crypto assets. The company began mining Bitcoin (“BTC”) and ether (“ETH”) in 2014 to develop knowledge of the technology, a venture that turned out to be quite profitable (http://ccw.fm/XVuYr).

Second on Keim’s list was this headline: Semtech and Helium Expand LoRaWAN Network Deployments (http://ccw.fm/uFy5P). The collaboration between Semtech and Helium has taken a step forward.

Semtech is the developer of the LoRaWAN (Long Range Wide Area Network) protocol, designed to wirelessly connect battery-operated “things” to the internet. Helium is creator of the LongFi technology, said to have a range 200 times that of Wi-Fi. The company has also developed the People’s Network, the world’s first peer-to-peer wireless network for low-power Internet of Things (“IoT”) devices to connect to the internet. With this partnership, IoT applications have now become a great deal more feasible.

Finally, a news headline that shows managers of the U.S. Postal Service are no Luddites: US Rep. Darren Soto Is Excited about the Recent USPS Blockchain Voting Patent (http://ccw.fm/hqAaP). USPS has filed a patent for mail-in voting that draws on blockchain cryptographic security safeguards. The initiative comes at a time when new allegations that mail-in voting is vulnerable to fraud have surfaced.

However, senior law-enforcement figures have expressed the view that it would be “extraordinarily difficult” for fraudulent mail-in voting to take place on a scale that would affect election results, “given the range of processes that would need to be affected or compromised by an adversary.” (http://ccw.fm/lUQc1). With Russia’s election meddling an ongoing threat, this is a decidedly reassuring pronouncement.

To view the most recent episode of the Wild West Crypto Show, now on TV in 45 cities across the nation, including its ongoing segment from CryptoCurrencyWire featuring the latest news from around the world, visit http://ccw.fm/LcK2Z.

Highlights of the show included Jonathan Keim, communications director of CryptoCurrencyWire, who shared an intriguing trio of bulletins in his Weekly News Update. First off was the headline: Blockchange and Gemini Partner in Industry First to Bring Digital Assets to Registered Investment Advisors (http://ccw.fm/lCpXt).

This news brief highlighted the collaboration between these two pioneers that makes it possible for registered investment advisers (“RIAs”) to offer their clients exposure to digital assets, which provides two immediate advantages: Clients’ portfolios can benefit from the continuing upturn in those assets, and clients enjoy a further measure of diversification to their holdings, thus reducing overall risk. Blockchange is a digital asset investing platform for professional wealth managers. Gemini is a cryptocurrency exchange and custodian that allows customers to transact in more than 20 cryptocurrencies, including Bitcoin, Bitcoin cash, ether, litecoin and Zcash.

Next in line was the report that TRON and Waves are partnering on Inter-chain DeFi with Gravity (http://ccw.fm/tdyMj). This partnership between TRON and Waves means that the smart-contract languages of the two platforms will be integrated, which, among other things, will counter fragmentation in the digital asset space. Waves is a blockchain platform on which users can create their own new custom tokens for use in loyalty programs, as in-app currencies and for initial coin offerings (“ICOs”). TRON is a widely used blockchain platform that is particularly well suited to the development of decentralized applications (“DApps”).

Keim’s updates ended with a reassuring news headline for crypto skeptics: The Crypto Phenomenon Cannot Be Ignored, Says US Banking Regulator (http://ccw.fm/mMmoA). Brian Brooks, acting Comptroller of the Currency (“OCC”), is seeing crypto moving further into the mainstream. His take on the crypto scene comes as no surprise. About a month ago, a directive from Brooks made it possible for banks to offer cryptocurrency custody services. The OCC is an arm of the Treasury Department, which charters, regulates, and supervises national banks, federal savings associations and agencies of foreign banks.

“The crypto phenomenon cannot be ignored, especially in a world where 50 million American citizens hold cryptocurrencies and many more millions outside the U.S,” said Brooks. “Lot of people have this stuff, and they have it for good reasons. And we need to make sure it’s accessible to them in the same safe and sound way that they can get the check in their account.”

To view the most recent episode of the Wild West Crypto Show, now on TV in 45 cities across the nation, including its ongoing segment from CryptoCurrencyWire featuring the latest news from around the world, visit http://ccw.fm/gZnPc.

Jonathan Keim, communications director of CryptoCurrencyWire, kicked off his report with the eye-catching news that Grayscale was debuting a new TV campaign focusing on the history of money (http://ccw.fm/2j0DA). Grayscale Investments, reportedly the world’s largest digital currency asset manager, is launching an advertising “blitzkrieg” to raise awareness of its products. The company provides a suite of investment products based on crypto assets that includes Bitcoin Trust, Bitcoin Cash Trust, Ethereum Trust, Ethereum Classic Trust, Horizen Trust, Litecoin Trust, Stellar Lumens Trust, XRP Trust, Zcash Trust and Grayscale Digital Large Cap Fund. The campaign will “illustrate how money has evolved over thousands of years” as well as how “we’ve ‘proceeded to wave goodbye to value, printing unlimited amounts of money.’”

Next up, was the news that Coinbase now allows Bitcoin, Ethereum, and XRP holders to pay for goods directly from their accounts (http://ccw.fm/9QCwI). Coinbase, a large cryptocurrency exchange, has partnered with BitPay, the Bitcoin payment service provider, to allow crypto holders to become crypto consumers. The integration of the two companies’ APIs will allow Coinbase users to “spend bitcoin, ether, XRP, USD Coin and other major cryptocurrencies to pay for goods offered by BitPay-supported merchants, which include Microsoft, Twitch and the Dallas Mavericks.”

Keim’s final feature showed that transacting in Bitcoin has become part and parcel of everyday life: one million Bitcoin wallets are now being used every day (http://ccw.fm/j3zM3). It appears that Bitcoin use has risen, once again, to levels not seen since late 2017. At that time, the cryptocurrency was trading at around $20,000. Bitcoin transaction levels tend to correlate positively with its price, but only since 2018, says Glassnode, the Bitcoin analytics firm that examined the data. Other factors — including increasing awareness and the potential to be a hedge against inflation — have historically influenced transaction volume, as indicated by the number of active addresses.

To view the most recent episode of the Wild West Crypto Show, now on TV in 45 cities across the nation, including its ongoing segment from CryptoCurrencyWire featuring the latest news from around the world, visit http://ccw.fm/JE1OD

Jonathan Keim, communications director of CryptoCurrencyWire (“CCW”), tuned in for his regular weekly news update, which kicked off with the intriguing headline: “Bloomberg: Americans Trade Depreciating Dollars for Bitcoin” (http://ccw.fm/pSNhF). Fearing an inflation-driven devaluation of the dollar, investors are shunning savings accounts, money market funds, and treasuries, and placing their cash in speculative assets such as stocks, gold and Bitcoin. This has pushed prices to record levels. In the last several months, the stock market has regained the lofty levels it had reached in late February while Bitcoin has appreciated by 55% and gold has climbed 29% to a level not seen since 2011.

Keim’s second headline looked at how one company is responding to inflation expectations: “Nasdaq-Listed MicroStrategy, Wary of Looming Dollar Inflation, Turns to Bitcoin and Gold” (http://ccw.fm/gSqL9). MicroStrategy, a Nasdaq-listed provider of business intelligence, mobile software and cloud-based services, plans to invest $250 million of its cash reserves in Bitcoin, gold and other alternative assets over the next 12 months as a hedge against U.S. dollar inflation. The company’s CEO says it makes sense to “shift our treasury assets into some investments that can’t be inflated away.”

Finally, the news that a basic “banking product” will soon be available should bring cheer to the crypto community; this headline read “Genesis Partners with Luno to Create Alternative Savings Products, Extending Institutional Crypto Interest Rates to 4 Million Global Consumers” (http://ccw.fm/zICVV). Genesis, which provides digital-currency, prime-brokerage services, is joining forces with cryptocurrency exchange Luno to offer customers of the latter opportunities to earn interest on their crypto holdings. Earning interest on deposits is a defining characteristic of the established banking system. With this development, crypto has moved closer to convention.

To view the most recent episode of the Wild West Crypto Show, now on TV in 45 cities across the nation, including its ongoing segment from CryptoCurrencyWire featuring the latest news from around the world, visit http://ccw.fm/cG3Oz

Jonathan Keim, director of communications at CryptoCurrencyWire, had a triplet of fascinating developments to report on. He started with the headline: Celsius Network Announces 25+ Cryptocurrencies as Loan Collateral (http://nnw.fm/OtKQp). Keim sees this announcement as a strong vote of confidence in the crypto markets, which historically have experienced a great deal of volatility. In January 2018, for example, Bitcoin was trading at over $17,000 but by December of the same year, it had plunged to around $3,400, a drop of some 80%.

Celsius offers its “community of HODLers,” or long-term owners of crypto assets, a convenient way to obtain some liquidity without having to dispose of any assets. The company provides loans of stable coins and fiat money using crypto assets as collateral. An additional benefit of this arrangement is that crypto owners avoid having to pay capital gains taxes, since no assets are sold. Access to such loans has now become easier after the announcement that “every asset accepted in the Celsius Network wallet will also be approved for loan collateral.” These loans can be backed by 26 different cryptocurrencies, including “stablecoins like TUSD, PAX, USDT, and GUSD, [and] altcoins such as DASH, ZRX, XLM, and for the first time the [Celsius] native token, CEL.” The facility is available in more than 200 countries with affordable rates that start at just under 1% APR.

Keim’s second report featured speculation by Heath Tarbert, who heads the Commodity Futures Trading Commission (CFTC), that “a ‘large part’ of financial system could end up in blockchain format” (http://nnw.fm/j4jWv). The CFTC chairman marveled at the speed of development in the crypto space, noting that while the present financial system took several hundred years to evolve, the digital asset space has become a viable economic system within a decade.

Finally, a blurb for Bitcoin from Wall Street touted this: Major Investment Bank Recommends Bitcoin Over Gold (http://nnw.fm/auX1F). A senior analyst at investment bank Oppenheimer thinks that Bitcoin has potential for more appreciation than gold. At around $11,594, the cryptocurrency is a far way from its lofty levels at the end of 2017, while gold, hovering around $2,000, is at a 20-year high.

To view the most recent episode of the Wild West Crypto Show, now on TV in 45 cities across the nation, including its ongoing segment from CryptoCurrencyWire featuring the latest news from around the world, visit http://nnw.fm/pXqhx.

Jonathan Keim, communications director of CryptoCurrencyWire, appeared with another trio of exciting updates, kicking off with this headline: eToro Quarterly Report: Q2 2020, stablecoins find a mainstream use case (http://ccw.fm/NHn2m). Results of a recent study, conducted by social investment platform eToro and its market research unit, the Tie, indicate that adoption of cryptocurrencies and assets are increasing globally. It’s good to see headlines and anecdotal evidence substantiated with data from surveys.

In other news, Keim reported MasterCard’s increasing commitment to cryptos with the press release title: MasterCard Accelerates Crypto Card Partner Program, Making It Easier for Consumers to Hold and Activate Cryptocurrencies (http://ccw.fm/TlRua). The card network, the second largest after VISA with a 30% market share, is actively recruiting cryptocurrency companies to join its Accelerate program for crypto-card issuers. Additionally, the network is collaborating with London-based, crypto-payment-processor Wirex, which makes the latter “the first ‘native’ cryptocurrency platform to gain principal membership.” The alliance allows Wirex to directly issue crypto payment cards. Now Wirex customers can top up their fiat currency designated payment cards using cryptocurrencies.

Keim’s final report — Banks in US Can Now Offer Crypto Custody Services, Regulator Says — shows that banks have found a safe way to get into the crypto space (http://ccw.fm/EpsuD). The Office of the Comptroller of Currencies, a major U.S. bank regulator, has given nationally chartered banks the green light to hold digital assets for their clients. On July 22, a senior official of the agency wrote a public letter stating that the OCC will allow banks to hold the unique cryptographic keys for a cryptocurrency wallet, opening the way for banks to provide electronic safety boxes for crypto customers. This development is one more indication that crypto adoption is continuing at rapid pace.

For the most recent episode of the Wild West Crypto Show, which includes CryptoCurrencyWire’s ongoing segment featuring the latest news from around the world, visit http://ccw.fm/USLFE.

Jonathan Keim, communications director at CryptoCurrencyWire, called in with his usual weekly triplet of exciting developments in the crypto space. He started with the headline: “CoinPayments Appoints Veteran Tech Marketer Ray Torresan as CMO to Drive New Branding & Global Growth” (http://ccw.fm/qDTuf). CoinPayments, a large cryptocurrency payments processor, has appointed Ray Torresan as chief marketing officer as part of the company’s major rebranding initiative. That marketing repositioning is meant, in turn, “to support exponential revenue growth targets,” says the company.

The CoinPayments platform allows merchants to accept Bitcoin and hundreds of altcoins in their stores by incorporating plugins, APIs and POS interfaces. As a result, the company, now with more than 2.2 million users in 182 countries around the world, has come a long way since 2013, when it became the first payment processor to support altcoins. CoinPayments now supports transactions in more than 1,900 coins.

Next on Keim’s list was the news that Jack Dorsey’s Cash App is sponsoring NASCAR driver Bubba Wallace (http://ccw.fm/IvaiL). Wallace, perhaps best known for the role he played in getting NASCAR to ban displays of the Confederate flag at its events, has a new backer, and it’s none other than Twitter co-founder and CEO, Jack Dorsey.

The sponsorship deal requires Wallace’s car to sport the logo of Cash App, the mobile payments platform from Square, which was also founded by Dorsey, as well as the Bitcoin emblem. Square’s Cash App offers mobile banking services plus the ability to transact in stocks and Bitcoin.

Finally, Keim reported on what is driving institutional interest in cryptocurrency investment, according to Huobi Global (http://ccw.fm/NSSEs). Huobi has experienced a surge in transactions as institutional investors have flocked to the company’s futures market place. In early May, futures and swap trading transaction volume reached $5.2 billion. A substantial part of this was due to perpetual contract swaps that hit $2.2 billion during one 24-hour period, a remarkable achievement considering that perpetual swaps were launched on March 31.

For the most recent episode of the Wild West Crypto Show, which includes CryptoCurrencyWire’s ongoing segment featuring the latest news from around the world, visit http://ccw.fm/CpbTi.

Jonathan Keim, communications director of CryptoCurrencyWire, appeared to give his usual weekly news update. He got the ball rolling with a headline that should put developers in good spirits: “Algorand Provides Native Support of the Pocket Network’s Next-Generation Decentralized Infrastructure” (http://ccw.fm/uukO0).

Pocket Network is a decentralized infrastructure platform for the development of peer-to-peer applications. Algorand’s involvement means that developers will have easier access to the platform, which, by virtue of being decentralized, should reduce costs, improve scalability and security, and provide a wider range of blockchain development tools. Algorand is the world’s first open-source, permissionless, pure, proof-of-stake blockchain protocol.

Next Keim reported on developments in the crypto-mining space: “HIVE Blockchain Continues Increasing Bitcoin Mining Power Through Additional Purchase of Next-Generation Miners for Green Energy-Powered Quebec Facility” (http://ccw.fm/oXeVl).

HIVE Blockchain Technologies plans to add 200 Bitmain Antminer S17e 60 Terahash per second (TH/s) SHA 256 mining machines to its Quebec operations, adding to the 750 Bitmain S17+ Antminer machines previously acquired. HIVE also owns digital-currency mining facilities in Sweden and Iceland. The company focuses primarily on the production of Bitcoin and Ethereum.

Finally, security software superstar John McAfee is back in the news, after launching the world’s first private cell phone data service (http://ccw.fm/yB18m). McAfee claims his Ghost Cell Phone Data Service will be the first 4G data service to make connections to the network untraceable.

The phone will employ a software SIM instead of a physical one. A special network will deploy a range of cryptographic techniques to ensure that connections can’t be tracked. The system will support VOIP and other IP-based communication platforms. McAfee is inviting members of the media to beta test the service, which he plans to launch globally in September. McAfee is something of a curiosity in Silicon Valley, at least partially because he has orchestrated two unsuccessful presidential campaigns.

For the latest episode of the Wild West Crypto Show, which includes CryptoCurrencyWire’s ongoing segment featuring the most recent news from around the world, visit http://ccw.fm/NN96V.

Episode 116 of the Wild West Crypto Show, titled “Cryptos Looking Strong,” was chock-full of good stuff. The show, hosted as usual by Drew Taylor and Brent Bates, featured three pioneering crypto pros: Jon Allen of the Unitize Conference, Josh Tate from ForumPay, and a special segment featuring Bo “Knows” Polny, who declaimed on face masks, the Fourth of July holiday, and gold and silver, which he says are “God’s money.” Jonathan Keim, communications director of CryptoCurrencyWire, also appeared with his usual trio of newsbreaks, one of which recounted a fake gold scam in China. In addition, listeners enjoyed commentary on cryptocurrencies and the big board indices, all of which are looking strong. Bitcoin, for instance, maintains its position above $9,000, while stocks continue to rise from their low point in mid-March.

Allen talked at length about his project, a collaboration of Cointelegraph’s BlockShow and the popular San Francisco Blockchain Week. Scheduled for July 6–10, the Unitize Decentralized Digital Conference delivered content continuously to audiences on a near-daily basis (http://ccw.fm/CSdeP). The event offered participants a chance to hear expert speakers on crypto and blockchain, as well as visit virtual exhibitions, interactive lounges and chat rooms. Networking was never so easy. An audio stream was available, so those who couldn’t take part fully still had a way to participate.

Speakers included the Hon. Hester Peirce, SEC commissioner; Vitalik Buterin, creator of Ethereum; Silvio Micali, Turing-Award cryptographer and founder of Algorand; Tim Draper, founder of DFJ VC; California Senate Majority Leader Robert Hertzberg; and Alessandro Chiesa, an assistant professor at UC Berkeley and co-founder of Zcash & StarkWare.

During his segment on the show, Tate explained how his crypto payments platform is helping small businesses expand the range of payment options they offer their customers (http://ccw.fm/j5Ebd). ForumPay can be integrated into an online merchant’s standard payment solution in only a few easy steps. The platform is a good way for online retailers to increase their customer base, as more and more people are paying for goods and services with cryptocurrencies.

Keim launched his triplet of updates with the headline “Curv Raises $23M Series a Round; Launches tX to Accelerate Institutional Adoption of Digital Assets” (http://ccw.fm/iea7p). Curv, a start-up that provides crypto custody services to institutions, has developed a platform to manage digital assets. The company’s security technology allows cryptofinance products to be safely stored and transferred on a blockchain. News of the funding was accompanied by announcement of the launch of a community of cryptographers and engineers — tX — who use Curv’s keyless technology.

In other news, Keevo announced a strategic partnership with Iron Mountain to protect crypto currency users and their heirs (http://ccw.fm/5uCsi). Keevo, which has developed a crypto hardware wallet, has formed an alliance with Iron Mountain (NYSE: IRM) to provide storage and information-management services to users of its wallet. Securing cryptocurrencies and other crypto assets has become increasingly challenging as their adoption has grown. For instance, in just the first half of 2019, more than $4 billion worth of cryptocurrencies disappeared, victim to the machinations of hackers.

Finally, Keim reported on a $2.8 billion fake-gold bullion scam (http://ccw.fm/yMjVO). Kingold Jewelry (NASDAQ: KGJI), a Chinese manufacturer of jewelry based in Wuhan, has been accused of putting up fake gold as collateral for $2.8 billion in loans the company received over the past five years. It seems the old saw — all that glitters is not gold — has been proven right once again.

For the most recent episode of the Wild West Crypto Show, which includes CryptoCurrencyWire’s ongoing segment featuring the latest news from around the world, visit http://ccw.fm/bdM58.

In addition to the look back at the Harvey piece, the show included an appearance by Jonathan Keim, communications director of CryptoCurrencyWire, who tuned in with his usual trio of developing stories. First was the headline: KuCoin P2P Fiat Market Supports Buying Crypto with USD Via PayPal (http://ccw.fm/xlKX0).

Starting in June, KuCoin will allow its customers to buy cryptocurrencies, including Bitcoin, Ether and Tether, using U.S. dollars from their PayPal accounts. This development adds another fiat currency that KuCoin will accept as payment for transactions on its platform. The KuCoin P2P Fiat Market already supports payments made in the Canadian dollar (“CAD”), Chinese yuan (“CNY”), Indonesian rupiah (“IDR”) and Vietnamese dong (“VND”). Founded in 2017, KuCoin is a crypto exchange with one out of four crypto holders worldwide and an estimated 5 million users across 207 countries.

Next on Keim’s list was the LATOKEN VCTV Weekly Announcement (June 8–12) (http://ccw.fm/B9cN0). LATOKEN VCTV is a broadcast platform focused on the venture capital (“VC”) industry. The broadcast regularly features discussion panels, road shows, pitch competitions, keynote addresses and a variety of other VC-related content, and is widely watched by the VC community.

LATOKEN VCTV’s Weekly Announcement gives a heads-up on the agenda for the forthcoming week. The week June 8–12 began with an address by Giampaolo Parigi, chairman of a single family office discussing how to raise capital in the new normal. Other segments included a talk on how to get tech-style growth from old-economy businesses by Callum Laing, founder and CEO of MBH Corporation, and an online road show with the theme: Investments and Pivots during Pandemic: AI, Machine Learning  and Data.

Keim’s final report was the news that BitPay has been selected as Frost & Sullivan’s Company of the Year in the Alternative Payments space (http://ccw.fm/Z8yV5). BitPay is the world’s largest provider of Bitcoin and cryptocurrency payment services. The company was founded in 2011 and is notable for a number of achievements. In 2016, it launched the BitPay Visa Prepaid Debit Card, the first prepaid Visa debit card for Bitcoin. And in 2018, it received a virtual currency license from the New York Department of Financial Services.

For the most recent episode of the Wild West Crypto Show, which includes CryptoCurrencyWire’s ongoing segment featuring the latest news from around the world, visit http://ccw.fm/EO3bO.

In his weekly news update, Jonathan Keim, communications director of CryptoCurrencyWire (“CCW”), furnished another trio of blockchain bulletins, starting with “CoinField Joins Open Payments Coalition to Launch PayID and Comply with FATF’s Travel Rule” (http://ccw.fm/Bk62r). CoinField, a regulated, European-based, fiat-to-crypto exchange supervised by the Financial Intelligence Unit (“FIU”), has joined the Open Payments Coalition, a multinational alliance of industry leaders that developed a universal payment identification system. Known as PayID, the protocol simplifies the process of sending and receiving money globally across any payment network and any currency.

Second up was the news that “Binance Charity Pioneers COVID-19 Relief with First-Ever Fully Transparent Campaign” (http://ccw.fm/mZ64t). The Binance Charity Foundation, the philanthropic arm Binance, the world’s largest cryptocurrency exchange, is providing a large quantity of personal protective equipment (“PPE”) to New York City. This initiative follows similar ones designed to support hospitals in a number of countries ravaged by COVID-19, including China, Italy and Spain.

The relief effort in New York City was marked by the creation of a social impact cryptocurrency, christened the PPE Token, which means donors can track how their funds are put to use, something they would be hard-pressed to do with a regular charity. In its first deployment, the PPE Token is killing two birds with one stone. Not only has it verified the successful, tamper-proof delivery of 200,000 N95 masks to 11 benefiting hospitals in New York City and the surrounding region, but it has served as a form of compensation for the couriers involved.

Last but certainly not least, the news that “Blockchain Heroes Collectible Digital Trading Card Set to Feature 50 Original Superheroes on WAX Blockchain” will give many adults the chance to act out some adolescent fantasies (http://ccw.fm/zLj9x). The new set of trading cards is based on the following question: What if there existed an alternate universe in which the inventors, investors, supporters and evangelists of blockchain were actually superheroes fighting for the virtues of decentralization, privacy, transparency and freedom?

According to the release: “Blockchain Heroes, an exciting collectible digital trading card set on the WAX blockchain, will make this alternative universe a reality in August 2020. Fifty unique superheroes in a variety of card rarities will be revealed in purchasable card packs. Similar to physical collectible trading cards, each pack of digital collectibles will be randomized and provide unknown surprises. With 50 total heroes, each pack of cards will have the chance to reveal common, uncommon, rare, epic, legendary or mythic versions of any hero in increasing rarity, each with its own special design.” One wonders, could Satoshi Nakamoto be one of those superheroes?

For the most recent episode of the Wild West Crypto Show, which includes CryptoCurrencyWire’s ongoing segment featuring the latest news from around the world, visit http://ccw.fm/2RZ5a

Jonathan Keim, communications director of CryptoCurrencyWire, captured another trio of fascinating headlines that revealed how fast the crypto revolution is disrupting conventional ways of doing business on this latest episode of the Wild West Crypto Show.

Legal agreements, for example, are as old as Methuselah but now, by incorporating blockchain technology, they are being reincarnated as “smart contracts” — self-executing, self-enforcing agreements that don’t require costly, arduous execution or resolution processes. Smart contracts are similar to regular contracts, except that the contract terms are coded in a programming language and that code is enclosed in a blockchain. Some well-known blockchain protocols, such as Bitcoin, support smart contracts. But the one mostly widely used is Ethereum, which has its own smart contract language called Solidity. Other languages used for smart contracts include C++, Java and JavaScript.

But, says Blockstack founder Dr. Muneeb Ali, such languages are insecure because they are “undecidable.” So in collaboration with Dr. Silvio Micali, founder of Algorand, Ali has launched an independent, open-source project to support Clarity, the “first-of-its-kind smart contract language” (http://ccw.fm/J7tXt). Clarity is a “decidable” language, which means that “developers can know, with mathematical certainty, what a program will and will not do ahead of time.” Now that the value of smart contracts has crossed a billion dollars, it’s time for “smart contract languages that are more safe, secure, and predictable in order to mature the industry beyond its current state,” say Ali and Micali.

In another news release — “Coca-Cola Amatil Vending Machines Accept Bitcoin via Centrapay” — one of the global beverage company’s largest bottlers is giving its customers the option to pay with cryptocurrency (http://ccw.fm/ZUk5s). Coca-Cola Amatil is partnering with digital asset integrator Centrapay to offer the service to its customers, who can use their Sylo Smart Wallet at any one of Coca-Cola’s 2,000-plus vending machines with a QR code payment sticker. Coca-Cola Amatil is the largest bottler and distributor in the Asia Pacific region, serving an estimated 270 million consumers and supporting some 140 brands.

Finally, the news that the National Science Foundation (NSF) is funding KRNC Blockchain to upgrade the U.S. dollar indicates the Feds have joined the crypto bandwagon (http://ccw.fm/Pqps1). The NSF is a federal government agency and the protocol it is funding — KRNC — could eliminate the need for private cryptocurrencies. KRNC allows existing electronic dollars to be retrofitted with new cryptographic features, including digital scarcity and smart contracts. “KRNC takes the positives of Bitcoin and adds them to money the public already owns,” said Clint Ehrlich, the project’s chief scientist. “It’s the virtual equivalent of taping gold to everyone’s dollar bills.”

For the latest episode of the Wild West Crypto Show, which includes CryptoCurrencyWire’s ongoing segment featuring the most recent news from around the world, visit http://ccw.fm/nMDe9

Jonathan Keim, communications director of CryptoCurrencyWire, appeared with his usual weekly news update on this episode of the Wild West Crypto Show.

Keim started his trio of notable press reports with the news that Bitcoin IRA has released a new infographic to coincide with Bitcoin’s halving in May (http://ccw.fm/Vfm45). Founded in 2015, Bitcoin IRA acts as a custodian for Bitcoin held in self-directed Individual Retirement Accounts (IRA’s). Investor interest in adding Bitcoin (“BTC”) to IRA and 401(k) accounts has been on the increase, particularly in April and May as the cryptocurrency approached and underwent halving.

The infographic published by Bitcoin IRA shows why. After previous halvings, BTC has appreciated markedly. After the first halving in 2012, BTC price rose by 8,189%; in 2016, following the second halving, the value rose by an another 2,237%. Despite the uncertainty of present economics, many investors expect that the value of BTC will once again increase after the latest halving.

Next on Keim’s agenda was the headline that OKEx expects to double its employee count over the next two years (http://ccw.fm/Cy3lM). OKEx is said to be the largest and most diverse cryptocurrency marketplace in the world, offering facilities to trade spot in major cryptocurrencies, as well as in a range of crypto derivatives that include futures and options. The company is also launching a mentorship program in Europe. Christened the OKEx Beacon Program, the scheme will enlist six persons for a one-month exclusive mentorship with CEO Jay Hao and director of financial markets Lennix Lai.

Finally, International Spirits & Wellness Holdings (OTC: ISWH), a global brand-management holdings company, has announced it’s getting into the cryptocurrency mining business (http://ccw.fm/51sIs). The company is joined forces with Bit5ive LLC, a global leader in cryptocurrency mining and innovative turnkey mining solutions. The two companies are eyeing the Bitcoin technology market, valued at $293.66 million in 2019 and expected to reach $477 million by 2025.

For the latest episode of the Wild West Crypto Show, which includes CryptoCurrencyWire’s ongoing segment featuring the most recent news from around the world, visit http://ccw.fm/nMDe9.

Jonathan Keim, communications director of CryptoCurrencyWire, appeared with his usual weekly news update on this episode of the Wild West Crypto Show.

South Korea’s largest chaebol is ahead of the curve, as usual, as an intriguing headline – ‘Samsung Elevates Data Protection for Mobile Devices with New Security Chip Solution’ – demonstrates (http://ccw.fm/ZHD9m). The group’s semiconductor division, Samsung Electronics, has developed a cybersecurity protection system that employs a dedicated chip. Typically, cybersecurity defenses are software solutions. The product is made up of a Secure Element (SE) chip combined with enhanced security software, which offers protection for tasks such as booting, isolated storage, mobile payment and other applications. The security chip is Common Criteria Evaluation Assurance Level (CC EAL) 6+ certified, the highest level possible for a mobile component.

Bitcoin dominance is not just in the cryptocurrency arena. Traditional financial services are giving ground to its rapidly growing sway, as Forbes reported in a piece with a lengthy label: ‘Exploding Past $10 Billion, Interest Income and Lending Are Bitcoin’s First Killer Apps’ (http://ccw.fm/96wKP). A vibrant industry has developed around deposits and loans of cryptocurrencies, similar to how traditional banks operate.

The reasons are obvious. Cryptocurrency owners can park their holdings at institutions such as Genesis Capital and Celsius and earn as much as “8.1% annual percentage rate (APR) on their first deposited Bitcoin (BTC),” all while it would be difficult to find a fixed deposit that offers an APR over 2% with traditional fiat currency (http://ccw.fm/Y3u5V). There are benefits for borrowers, as well. They have the opportunity to receive cash without having to dispose of their crypto assets, which means that they not only retain exposure but avoid the capital gains taxes that selling would trigger.

Bitcoin was featured once again in the final news item: ‘Bitwage Rolls Out Bitcoin 401(k) Plan with Help from Gemini’ (http://ccw.fm/tA1MY). Bitwage, which offers crypto payroll services, launched its bitcoin 401(k) employee pension account. The company plans to start offering the product to businesses that are struggling to meet the 75% payroll requirement in the federal Paycheck Protection Program (PPP). To date, some $660 billion has been channeled to small businesses under the PPP established by the CARES Act. The program is meant to reduce layoffs as the economy falls into a possible corona virus-induced recession.

For the latest episode, which includes CryptoCurrencyWire’s ongoing segment featuring the latest news from around the world, visit http://ccw.fm/8k6rI

Jonathan Keim, communications director of CryptoCurrencyWire, appeared with his usual weekly news update on this episode of the Wild West Crypto Show. 

First up in Keim’s update was the news that the Crypto.com Visa card program received a green light in Canada (http://ccw.fm/PI0oq). Crypto.com started life as Monaco, a company offering a cryptocurrency-funded Visa debit card. Now, after a rebranding, the company will be known as the Crypto.com MCO platform and will offer the MCO Visa card, which links Visa cards with cryptocurrency accounts. The integration allows users to easily spend their cryptocurrency on everyday purchases, wherever Visa is accepted – and Visa is everywhere. The card network is the largest in the world, with more than 40 million merchants and 336 million cardholders.

Next up, Keim shared the news release ‘Huobi Rebrands Its Derivatives Exchange as Crypto Derivatives Surge in Popularity’ (http://ccw.fm/UZ7Fg). Headquartered in Singapore, Huobi is a cryptocurrency exchange that has been offering a variety of derivative products. The rebranding has been prompted by increased interest in crypto-derivative products such as futures, forwards, swaps and options, from both large institutional and smaller retail investors. Now called Huobi Futures, the exchange’s coin-margined, perpetual contracts have experienced a surge in trading since their launch in late March, already topping the market in cumulative trading volume. On May 12, the total 24-hour, coin-margin perpetual trading volume on Huobi Futures rose above $5.46 billion, outperforming by far the exchange’s closest competitor.

Keim completed his round-up with the headline ‘World’s Leading Crypto Payments Processor CoinPayments Announces Strategic Partnership with Shopify’ (http://ccw.fm/Dt066). This collaboration, much like the MCO Visa card project, has the potential to markedly increase adoption of cryptocurrencies.

“Under the terms of the partnership, CoinPayments will now be a visible payment option for merchants on the Shopify platform and will make cryptocurrency transactions easier and more accessible while reducing transaction fees,” the announcement stated. “Vendors will now get paid faster in any of the 1,800 cryptocurrencies supported by CoinPayments while gaining access to untapped markets globally. This partnership further enables cross-border payments, allowing merchants to eliminate the hassle of working with multiple payment processors across different jurisdictions.”

For the latest episode, which includes CryptoCurrencyWire’s ongoing segment featuring the latest news from around the world, visit http://ccw.fm/t3ozS