Ripple Goes Big On NFTs, Ethereum’s Upgrade, Algorand’s Machine, Multi-Crypto ETF + More News
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- Ripple has launched their USD 250m creator fund, which they say fosters innovation in tokenization, with a focus on non-fungible tokens (NFTs). The fund aims to provide targeted support for creators, brands, and marketplaces to explore new use cases for NFTs on the XRP Ledger (XRPL), the team said.
- Ethereum (ETH) upgrade Altair is scheduled to take place at epoch 74240, or roughly October 27, according to Ethereum Foundation researcher Danny Ryan. In the upgrade, EIP-2982 introduces “punitive parameters” to ensure that the proof-of-stake protocol is economically secure, where “inactivity leak” and “slashing” are two proposed penalties.
- Algorand (ALGO) has announced the availability of the Algorand Virtual Machine (AVM), which provides tools for developers and organizations looking to build applications on the network. They added that this upgrade includes “powerful features” that new developers “wouldn’t expect.”
- Evolve Funds Group Inc. said it has launched “Canada’s first multi-cryptocurrency ETF.” The Evolve Cryptocurrencies ETF (ETC) has closed its initial offering of units begins trading on the Toronto Stock Exchange today under the ticker symbols: ETC (CAD Unhedged Units) and ETC.U (USD Unhedged Units), the company said, adding that ETC intends to initially invest in Bitcoin ETF (EBIT) and Ether ETF (ETHR).
- BlockFi has announced it will increase its interest rates for stablecoins in their BlockFi Interest Accounts starting October 1, while cryptocurrency rates will stay the same. For accounts with less than 40,000 coins, the rates will go from 8% to 8.25%, while for those with more, they will increase from 5% to 7%.
- Banking giant Morgan Stanley bought over 58,000 shares of Grayscale Bitcoin Trust on July 31, according to a recent filing. They cost USD 2.4m at the time, with a reported value of just above USD 2m in the filing.
- The Tourism Authority of Thailand (TAT) is considering launching its own utility token called the TAT Coin, but first needs to consider the relevant regulations and viability before getting started, according to the Bangkok Post. TAT governor Yuthasak Supasorn said the authority is currently in discussions with the Securities and Exchange Commission (SEC) regarding the possibility of introducing the TAT Coin, which would involve the transfer of vouchers into digital tokens that could help operators gain greater liquidity, but could not be speculated upon for the purpose of trading.
- Installment loan lender Affirm is planning to debut a debit card and allow customers to buy and sell crypto directly from savings accounts they have with the company, Bloomberg reported. With the new crypto offering, customers would be able to buy and sell digital currencies including bitcoin (BTC) directly from the Affirm app.
- Bakkt has announced it has partnered with Choice Hotels International to expand the utility of the company’s rewards program, Choice Privileges, through the Bakkt App. Choice Privileges members can now convert their unused rewards points to cash on the Bakkt app and then convert that cash to bitcoin, transfer to friends with the “Send” feature, or use it to purchase everyday goods and services online or in-store wherever Apple Pay or Google Pay are accepted.
- Blockchain network XYO Network has announced it has generated a net income of USD 3.8m in the first half of 2021, compared to a loss of USD 1.9m in the first half of 2020. XYO stated that the number of nodes for the XYO Network had doubled in size over the last three months.
- Crypto mining company Compute North has entered into an agreement with clean energy tax equity fund PowerFund One, to begin delivering more than USD 100m of green energy and tax credits to mining operations seeking to invest in and migrate to socially responsible energy sources. The companies will offer their mining customers the opportunity to invest in Tax Equity which provides benefits structured to reduce tax obligations and give investors the ability to own and operate their rigs on dedicated clean energy sites.
- BitBay has announced it has become Estonia’s first fully licensed and regulated crypto exchange under a new regulatory framework imposed by the Estonian Financial Intelligence Unit.
Bitwise Analyst Sees 50% Chance of Spot Ether ETF Approval by May, Forecasts Bitcoin at $88K This Year