Crypto BanterThe 2022 FIFA World Cup, one of the biggest sporting spectacles, is less than a month away.
The event, reputed to be a net positive for the global economy, seems to have brought excitement to the so-called Football fan tokens – cryptocurrencies that allow holders to access a variety of fan-related perks offered by Football teams.
In the past seven days, fan tokens of the Peruvian national football team (FPFT), Spain's national team (SNFT), and Brazil's national team (BFT) have rallied 29%, 17% and 12%, respectively, according to data source CoinGecko. Fan tokens of Turkish and Argentinian teams have risen by 10% and 9%.
While each of these coins has a market value of less than $30 million, their recent performance stands out, given industry leaders, bitcoin (BTC) and ether (ETH), remain flat and make them the best performing coins of the $354 million fan token market.
The football fan tokens, issued via blockchain-based fan rewards platforms Socios and Bitci, do not represent ownership of the national teams. However, these coins allow holders to contribute to merchandising, participate in exclusive meet-and-greet events and earn loyalty rewards.
For instance, the Peruvian Token holders can interact with the national team members on the Bitci FanToken Platform, receive fan rewards and digital collectibles, access locker rooms and watch the match from VIP areas.
So, the football fan token market is likely to become more active than ever in the coming weeks. Perhaps it would evolve as a digital proxy of sports betting, with coins associated with 'fan favorite" teams appreciating more than others.
Per The Sporting News, Brazil and France are the two favorites among bookmakers, followed by Argentina and Spain. As noted above, the fan tokens of Brazil, Argentina and Spain have recently outperformed major coins.
The FIFA World Cup Qatar 2022 will be played from Nov. 20 to Dec. 18, with 32 national teams competing across 64 matches to determine a winner.
Fan tokens of national football teams have chalked out double-digit gains in seven days.
Source : (CoinGecko)
BTC$19,268.810.45%
ETH$1,344.830.20%
XRP$0.446782581.60%
BNB$272.680.39%
BUSD$0.999294590.07%View All PricesOct 25, 2022 Crypto Banter Crypto Banter Crypto Banter 1M Aussies will enter crypto over the next 12 months — Swyftx survey
Approximately one million Australians will purchase cryptocurrency for the first time over the next 12 months — bringing total crypto ownership in the country to over five million — according to a newly released survey.
The findings came from Australian crypto exchange Swyftx's second Annual Australian Crypto Survey, which was conducted by research firm YouGov.
The survey questioned 2,609 Australians over 18 years of age in early July, with 548 of the survey sample identified as current holders of cryptocurrency.
The report stated that despite the current “Crypto Winter,” which has seen approximately $2 trillion in assets wiped from the digital assets market over the course of the last year, Australian crypto ownership has grown 4% year-on-year, reaching 21% in 2022.
According to the report, this figure is set to increase by another one million new crypto owners in 2023, while at least one-quarter of Australians are planning to buy crypto over the next 12 months, with Millenials, Gen Zers, Aussie parents and those working full-time most likely to buy. Oct 17, 2022 Crypto Banter Jamie Dimon Again Slams Crypto, Calls Blockchain 'Real'
The head of the largest U.S. bank by assets spoke during an IIF event Thursday in Washington, D.C.
ByMichael Bellusci
Oct 14, 2022 at 7:59 a.m.UpdatedOct 14, 2022 at 8:36 a.m.0 seconds of 15 secondsVolume 0%
JPMorgan CEO Jamie Dimon surprised no one as he held the stage at an Institute for International Finance (IIF) event, again calling crypto tokens "decentralized Ponzis" even as he praised aspects of blockchain technology.
There's plenty of illicit activity in crypto, said the man whose bank has been fined many billions of dollars for its own violations of statutes.
Blockchain, on other hand, at least has certain "real" aspects, Dimon allowed, noting JPMorgan's Onyx platform for wholesale payments transactions.
For years Dimon has made no secret of his disdain for crypto, and just last month in congressional testimony again called tokens "decentralized Ponzis."Oct 14, 2022 Crypto Banter Crypto Banter Binance Pool Starts $500 Million Fund to Support Bitcoin Mining
The entity is the latest to join the growing ranks of alternative lenders looking to provide capital to the distressed mining industry.
Oct 14, 2022 at 4:20 p.m.
The crypto winter is taking a toll on companies that man the virtual mines, which has led to cryptocurrency exchange Binance starting a lending facility for bitcoin (BTC) miners.
- Binance Pool has started a $500 million lending project for private and public miners. The miners will need to pledge security in the form of physical or digital assets for the loan, which will have a duration of 18-24 months.
- Binance Pool recently opened up a mining pool for ETHW, the forked version of Ethereum that retains the blockchain's original proof-of-work (PoW) underpinnings.
- Binance isn't the only firm that is looking to support the struggling crypto mining industry, Jihan Wu, the founder of crypto mining rig-maker Bitmain, is also setting up a $250 million fund to purchase distressed assets from mining firms.
- Decentralized Finance (DeFi) platform Maple Finance has also established a lending pool with a 20% interest rate to provide miners with working capital. Crypto asset management firm Grayscale has also formed an investment vehicle to help investors take advantage of the low prices of bitcoin mining infrastructures.
- Grayscale is a subsidiary of Digital Currency Group (DCG), the parent company of CoinDesk.
- The downturn in the crypto market and the planned transition of Ethereum to proof-of-stake (PoS) has hit miners hard. In late September, crypto miner Compute North filed for bankruptcy with $500 million in outstanding debt owed to at least 200 creditors.
- Publicly traded mining company Riot Blockchain (RIOT) is down 70% year-to-date, while Marathon Digital Holdings (MARA) is down 65% for the same period.Oct 14, 2022 Crypto Banter Crypto Banter Crypto Banter Crypto Banter Crypto Banter Crypto Banter Coinsquare becomes first Canadian crypto exchange to receive IIROC registration
All crypto exchanges must register with IIROC if they want to operate in Canada, and there is currently a backlog of applications.
NEWS
Coinsquare, Canada's longest-operating crypto asset trading platform, announced on Oct. 12 that the Investment Industry Regulatory Organization of Canada (IIROC) had approved its dealer registration and IIROC membership. This regulatory status will now position Coinsquare as the first crypto-only IIROC-registered investment dealer and marketplace member in Canada. The Coinsquare team wrote:
"In dealing with an IIROC registrant, Coinsquare clients now have the added comfort and security of knowing that Coinsquare is operating at the highest level of dealer compliance and oversight under the existing regulatory system."
With the regulation, Coinsquare's client funds will be fully segregated and kept by licensed and insured custodians. Coinsquare will also be required to report its financial standing regularly and maintain adequate capital for liabilities. In addition, cash held in client accounts will be protected by the Canadian Investment Protection Fund in the event of insolvency.
Currently, Coinsquare has more than 500,000 users and offers access to over 40 cryptocurrencies, including more than 820 coin-to-coin trading pairs. The exchange has facilitated approximately $5.82 billion in trades since its inception in 2014.
Canada has taken a different regulatory approach than the United States. In Canada, all crypto exchanges operating in the country must be registered or at least apply to the IIROC. In June, regulators banned the crypto exchange Kucoin from operating in the Canadian province of Ontario, alleging that the firm did not respond to information requests. Oct 13, 2022 Crypto Banter Crypto Banter Crypto Banter In SEC Lawsuit, Grayscale Calls Spot ETF Rejection ‘Arbitrary, Capricious, and Discriminatory’
The legal brief filed Tuesday argues that the SEC’s logic for denying Grayscale’s application to convert the Grayscale Bitcoin Trust to a spot Bitcoin ETF is “flawed” and “inconsistently applied.”
ByCheyenne Ligon
Grayscale's Michael Sonnenshein speaks at Invest: NYC 2019.
Grayscale Investments called the the U S. Securities and Exchange Commission's (SEC) June decision to reject its application to convert its flagship Grayscale Bitcoin Trust (GBTC) into a spot bitcoin exchange traded fund (ETF) “arbitrary, capricious, and discriminatory" in an opening legal brief filed as part of its lawsuit against the regulator.
Grayscale filed suit against the SEC on June 29th, asking the U.S. Court of Appeals for the District of Columbia Circuit to review the regulator’s decision, which the SEC has published earlier in the day.
Grayscale is a wholly-owned subsidiary of Digital Currency Group, the parent company of CoinDesk.
Grayscale is far from the only company whose spot bitcoin ETF application has been rejected – over the last year, the SEC has denied over a dozen similar applications from other major players in the crypto space, including WisdomTree and Ark21Shares, citing a lack of investor protections and the potential for fraud and manipulation.
WisdomTree's latest application was rejected the same day Grayscale filed its brief.
While the agency has repeatedly rejected bitcoin spot ETF applications, it has approved several bitcoin futures ETFs, making a distinction between the offerings that Grayscale’s lawyers say is “arbitrary” and “outside the Commission’s authority.”
In the brief, the attorneys argue that, because Bitcoin futures and spot Bitcoin both generate their price based on overlapping indices, the spot price of Bitcoin in both spot and futures ETFs are subject to the same risks – and therefore, approving one and denying another is unfair.
“The Administrative Procedure Act and Exchange Act require rules and regulations to be
applied without favoritism for one type of product or another,” said Craig Salm, Grayscale’s Chief Legal Officer, in a press statement.
The SEC’s response is due Nov. 9.Oct 12, 2022 Crypto Banter Crypto Banter Crypto Banter Progress Toward Bitcoin's Halving Is 60% Complete, Block Times Suggest Reduction Could Happen Next Year
According to countdown statistics based on the average block generation time of around ten minutes, progress toward the next Bitcoin block reward halving has surpassed 60%. However, while most halving countdown clocks leverage the ten-minute average, the countdown leveraging the most current block intervals of around 7:65 minutes shows the halving could occur in 2023.
Faster Block Intervals Suggest Bitcoin Halving Could Happen in 2023
Just recently, at block height 757,214, mined on October 5, 2022, Bitcoin’s total hashrate tapped an all-time high (ATH) at 321.15 exahash per second (EH/s). Lately, block intervals have been faster than usual and well under the ten-minute average.Oct 9, 2022 Crypto Banter 
