French Football Federation launches official player NFTs with Sorare

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With the Euro 2020 championship in progress, blockchain-based fantasy soccer game Sorare has announced the licensing agreement for a national sports association to issue nonfungible tokens of its players. In an announcement today, Sorare said the France Football Federation, or FFF, had launched its own line of player nonfungible tokens, or NFTs, prior to the team’s match against Germany on Tuesday. The French National Team — often called “The Blues” for the color of their shirts — is currently competing in the 2020 Union of European Football Associations European Football Championship. The Euro 2020 tournament was postponed last year due to the pandemic. The firm will tokenize France national team players including Antoine Griezmann, Paul Pogba, and Hugo Lloris as digital cards for the 2020 season. With their performance stats recorded on the blockchain, player cards will each have different scores and rarity for the fantasy football game. Winner of the European Football Championship ..

Coinbase is reportedly looking to set up office in New York

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The United States’ largest cryptocurrency exchange, Coinbase, is reportedly setting up its first office in New York. The Nasdaq-listed cryptocurrency exchange has allegedly subleased 30,000 square feet from Steven Cohen’s investment firm Point72 at Related Companies’ 55 Hudson Yards in New York, the New York Post reports Sunday. Citing sources from a real estate firm, the report notes that Coinbase’s upcoming NY office makes up a small chunk of Point72’s total 339,000 square feet at the tower. The report also notes that Hudson Yards area is mostly known for corporate, media, and law tenants but not technology companies. “It’s a new brand of user not only for Related’s Hudson Yards but also for the entire far West Side area,” one market observer reportedly said. The biggest crypto exchange in the United States, Coinbase became even more discussed this year after going public on Nasdaq in April. The firm is known for its no-headquarter stance officially announced by CEO and co-founder Br..

Elon Musk, $40K and no demand: 5 things to watch in Bitcoin this week

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Bitcoin (BTC) starts a new week on a pleasant high thanks to a boost from a familiar source, Elon Musk. Are the good times back? After spending weeks languishing close to $30,000, Bitcoin has managed to stage a sustained comeback to line up an attack on major resistance. With on-chain indicators flashing bullish, there may be a chance of a breakout, but analysts and traders are far from 100% convinced. Cointelegraph takes a look at five things that could influence how BTC price action unfolds in the coming days. Musk tweet changes the game... againThe talk of the town, once again, is Tesla and SpaceX CEO Elon Musk this week. Firmly out of favor after playing the devil’s advocate on Twitter on multiple occasions, Musk returned to the fray with news that previously seemed unlikely. Tesla dropped Bitcoin payments earlier this year shortly after announcing them and without actually processing any BTC transactions. This, according to Musk, was due to the allegedly unsuitable energy usage in..

The Netherlands should regulate crypto instead of banning it, says finance minister

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A cryptocurrency ban is not the right solution for the Netherlands, the country’s finance minister reportedly said after a local official called for a total ban on crypto. The Netherlands should regulate the cryptocurrency market instead of prohibiting its citizens from using crypto entirely, Dutch minister of finance Wopke Hoekstra stated, according to a Friday report by local news agency NU.nl. The official still admitted to certain risks associated with the crypto market, reportedly saying that he understood the concerns raised by director Dutch Bureau for Economic Analysis, Pieter Hasekamp. The minister stressed that it’s crucial to ensure proper rules for virtual asset service providers in order to mitigate the risks around issues such as money laundering. “My observation is now that supervision is more effective than a total ban in the Netherlands,” Hoekstra stated, reportedly noting that it’s important to oversee the crypto market at the European level. Hoekstra also mentioned t..

Remittance firms hesitant to support BTC despite legal tender law in El Salvador

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Despite El Salvador’s recently passed law mandating Bitcoin as legal tender, local remittance firms are reportedly hesitant to adopt BTC. Speaking to Reuters, Autonomous Research fintech analyst, Kenneth Suchoski, argued that remittance firms are unlikely to launch support for Bitcoin and other crypto assets until prompted to do so by customer demand, likely creating a stalemate for the local payments industry. “For Western Union and some of the other remittance providers, keep in mind that most of the volume in the remittance industry is going from developed markets to emerging markets primarily to people — families and friends — that operate in cash,” he said. Suchoski estimates that less than 1% of global cross-border remittances are conducted using crypto assets, adding: “To the extent that bitcoin isn't adopted and there's not widespread acceptance, these remittance providers are still going to be relevant for the years to come.”Global payments firm, MoneyGram Internatio..

Tanzanian president urges central bank to prepare for crypto

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Tanzania appears to be the latest emerging economy poised to embrace Bitcoin and crypto assets. On June 14, Tanzanian president Samia Suluhu Hassan urged the country’s central bank to begin exploring crypto assets. Hassan emphasized the increasing impact of digital assets on global finance, stating: “We have witnessed the emergence of a new journey through the internet.” She highlighted the lack of crypto adoption and development in the East African region, stating: “Throughout the region, including Tanzania, they have not accepted or started using these routes.” “My call to the Central Bank is that you should start working on that development. The Central Bank should be ready for the changes and not be caught unprepared.”Hassan’s comments come on the heels of numerous Latin lawmakers pushing for greater crypto adoption in other emerging economies, including El Salvador — where Bitcoin has been mandated as legal tender. While African legislators have been slow to recognize and encourag..

Canadian Bitcoin ETF adds to its holdings despite steep market correction

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Demand for Bitcoin (BTC) among Canadian investors has not wavered amid the latest price correction, offering further evidence that market participants are capitalizing on heavily discounted prices. The Purpose Bitcoin ETF, which launched in February, has now accumulated 19,692.149 BTC as of June 13, according to Bybt data. The ETF has added 284.51 BTC over the past seven days and nearly 2,000 BTC since May 15. A massive breakdown in price has not deterred Canadian investors from seeking exposure to Bitcoin. Source: Bybt.In fact, the ETF added to its holdings during the May 19 flash crash that saw Bitcoin wick down below $30,000 before quickly recovering. At a current BTC price of around $36,000, the Purpose Bitcoin ETF has a value of over $709 million. Assets swelled to over $1.3 billion in less than two months of operations. According to technician Byzantine General, inflows into the Purpose ETF suggest Canadians aren’t concerned about Bitcoin’s short-term price action. Indeed, ..

How the NFT market leveraged blockchain tech for explosive growth

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It’s fun to talk about nonfungible tokens, or NFTs, because they are the perfect example of how the impact of blockchain technology in people’s lives goes way beyond the financial market. As we could see in hundreds of headlines in the past few months, they have gripped the world’s attention because they are a new manner of interacting with culture, music, sports and the media. This article will clarify what NFTs are, how they work, how the NFT boom started, and why blockchain technology has made it possible for NFTs to create a new economy. Related: A cure for copyright ills? NFTs promise to empower creative economies Why is there such excitement around NFTs?NFTs are such an exciting and fun subject to talk about because almost everyone likes music, arts, games and the internet. The feeds of every social media platform are full of people who, having shown no prior interest in crypto assets or decentralized finance, eagerly talk about nonfungible tokens. In the first half of 2021, we s..

Crypto is the next step toward a cashless society

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From QR code payments to mobile banking apps, consumers worldwide are increasingly reliant on digital payment solutions, especially as mobile technology becomes more ubiquitous. Government-led efforts in driving cashless economies have been a key factor, with countries such as Singapore or the Philippines seeing their central banks driving the adoption of contactless payments during the height of the COVID-19 pandemic. As a result, usage rates for digital payments platforms have recorded promising growth, even as high as 5,000% in the Philippines alone. Related: Digitized Europe: The shift to a cashless world This unprecedented rise in cashless payments is also paving the way for the broader adoption of crypto, with the number of crypto users worldwide hitting around 106 million in January. While this marks an impressive 15% month-on-month growth, it is still just a drop in the ocean when compared to the 4.7 billion people who have access to the internet. But as crypto continues to com..

Bitcoin price could hit $85K in months as indicators flip bullish — report

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Bitcoin (BTC) is still below a key moving average and that is "not a bullish sign," says a new report, but signs of a rebound have finally arrived. In its latest market update released on June 11, trading suite Decentrader highlighted three on-chain indicators calling for an imminent bullish continuation for BTC/USD. Indicators echo March 2020 aftermathBitcoin has now spent almost a month below its 200-day moving average (DMA). This is concerning, Decentrader warns, and external factors such as geopolitical sentiment continues to weigh on sentiment. "Bitcoin has kept the market on its toes as it continues to range between weekly support at $32,000 and near term resistance of the 200DMA currently at $42,000," the update summarized. "Uncertainty after the recent crash and fears around President Biden’s announcement at the G7 Summit this coming weekend around how the US will tackle cryptocurrency in relation to recent ransomware attacks, are holding price down for now."Bitcoin continued t..