Canada Ballers to Be Paid In Bitcoin

Canadian Elite Basketball League (CEBL) Players Will Soon Receive Payment in Bitcoin

A well-renowned basketball league based in Canada just announced its intentions to start paying its players in the form of bitcoin (BTC).

Interestingly, the price of bitcoin took a nosedive not that long ago. But this decrease hasn’t stopped several sectors from around the world, taking interest in the digital currency.

Although, given its price now stands at around $35k, a few key players have expressed their concerns. This doesn’t necessarily mean that every investor has been scared by the recent turn of events.

If anything, more individuals and companies are integrating the crypto into their operations. A good case in point is that of Landon Cassill, the professional NASCAR driver who recently revealed that he would be receiving his wages in Litecoin and Bitcoin.

Similarly, the Canadian Elite Basketball League (CEBL) just made it known to the public that it will start paying nearly all of its players with cryptocurrency.

Based on the statement released, CEBL will be paying players from up to seven teams using Bitcoin, starting 21 June 2021.

There are rumors that CEBL teamed up with Bitbuy, which is a crypto exchange based in Toronto, to make this venture a success. Meanwhile, the basketball league is scheduled to begin on June 24th next week.

The league will see a number of teams compete against each other. These include Fraser Valley Bandits, Guelph Nighthawks, Edmonton Stingers, Hamilton Honey Badgers, Saskatchewan Rattlers, Niagara River Lions and Ottawa Blackjacks.

Following the announcement, at least 70 players will be receiving their salaries in bitcoin.

Kimbal Mackenzie, who plays for Guelph Nighthawks, is said to have been amongst the first players to accept the offer. He remarked how thrilled he was to be getting paid in bitcoin.

Google Pay & Apple Pay Added to Coinbase

Coinbase Adds Support for Google Pay and Apple Pay

U.S.-based customers will now be able to incorporate their Coinbase cards into Google Pay and Apple Pay. This typically means that they’ll have the freedom to make payments using crypto remotely.

As the cryptocurrency industry continues revolutionizing our lives, many more organizations are slowly adding features that make cryptocurrencies more feasible.

The latest company to do this is Coinbase. As recently as yesterday, the firm now permits its customers to sync their Coinbase card to Apple Pay or Google Pay. This enables them to pay for goods and services using the cryptocurrencies in their wallet.

However, this provision is only available to those living in the U.S. and not Hawaii.

So how exactly does this work? Well, if you wish to pay for a service using your Coinbase Card, your preferred cryptocurrency is first converted to a fiat currency, like say the US dollars.

This accords you the freedom to use crypto for payments regardless of where you are- or wherever sellers and retailers accept card payments.

This move has been seen as a major step, especially in relation to the role cryptocurrencies are playing in our financial sector. Nonetheless, there’s still a bit of uncertainty with regards to its practicality.

Some users may be reluctant to use crypto as a mode of payment, and understandably so, given how volatile it can be.

In fact, if you tend to hold crypto as a financial asset as opposed to a medium of exchange, you may want to do a bit of due diligence before using it in a transaction.

Taking this into account, it makes more sense for individuals to use stablecoins instead. Stablecoins are a type of cryptocurrency, which have their value linked to a fiat currency. For instance, the USDT is linked to the US dollar.

Coinbase model allows the firm not to charge any fees for the conversion of stable coins at the time of sale. But, it charges a fixed 2.5% fee if you pick any other coin, which is a little expensive.

Though Coinbase transaction fees are more than what your bank would charge you, the company also pledges cash-back incentives on a couple of coins. For instance, it offers 1% rewards for using Bitcoin and 4% rewards if you use Stellar coin.

NuCypher and Keep MERGER to form KEANU

NuCypher and Keep Ethereum Projects Merge, Launch Set for August 

Two renowned protocols created from the 2017/2018 original coin offering period have decided to unite.

The two projects are NuCypher and Keep, and they’ll merge to form KEANU. The reason cited for the merger is the fact that they would have encountered stiff competition, which would have only resulted in more energy wastage.

In the name of genuine decentralized entrepreneurship, the two data encryption service providers opted to pool their resources.

This will allow their ventures to carry on with their business strategies, independently, but by utilizing common blockchain infrastructure.

Think of it as Mars and Hershey candy firms deciding to consolidate their factories while still retaining their independent identities as brands.

Commenting on the merger through a spokesperson, Matt Luongo, the CEO of Thesis, stated that they hope to accomplish more by merging their resources. Thesis is the mastermind company behind the creation of Keep.

The merger has been dubbed Keanu as a tribute to the prominent actor who stars in “The Matrix”.  More importantly, this merger is a grand event in the crypto world, and it was almost expected.

Given that the majority of projects began by using tokens and governance tools, there was bound to come a time when mergers would happen.

Keanu gives a brief insight into how these mergers are likely to occur. Specifically, many anticipate that such ventures will utilize the crypto-native organizational structure called DAO (distributed autonomous organization).

Commenting about the merger through an email, NuCypher’s CEO, MacLane Wilkison, remarked that KEANU would be the first merger of its kind, that is, between two decentralized networks.

He added that there had been a couple of community proposals that had been brought forward before finally settling on the proposal that saw the two communities come together.

NuCypher posted an article explaining that the new project will result in the creation of a new token dubbed T. 10% of this token will be put away for the DAO. The remainder will be split halfway, with 50% going to Keep’s token holders and the other 50% to NuCypher’s.

The involved parties anticipate that the launch of the new platform will take place in August.

NEW Cardano Stable Fees Coin – BEC Coin

Cardano Explores New Mechanism to Make Transaction Fees Fair and Predictable

The Cardano (ADA) company has started looking into the feasibility of Stablefees. These would make it possible to have a base price for transactions in the crypto industry.

Cardano FIXES Transaction Fees

In an article posted by the IOHK, the firm credited with this crypto’s invention, future Stablefees would offer a pricing structure that is not only affordable but also predictable.

Cardano has been looking for a way to develop its present platform, especially its technique for system assets and ledger policies. Thus, integrating Stablefees in a seamless way is certainly a step in the right direction.

To understand the Stablecoin- which is also referred to as the Basket Equivalent Coin (BEC) – think of it as a currency that can be used to make payments for the transaction fees in the crypto world.

According to the IOHK, transaction systems on traditional cryptocurrencies fall short, primarily because of their dual utility aspect.

In the post, IOHK explains that on one part of the coin, customers are allowed to hold and trade it. On the other side of the spectrum, the same coin provides the fuel needed to process transactions.

In addition, the article recommends the system to offer users a way to get the correct price so that they can process their transactions in a timely fashion.

As the post illustrates, the concept behind introducing Stablefes is to provide a fixed price for transactions by attaching them to a basket of commodities.

Cardano will take on a double-duty in the new system. For one, it will act as a reserve asset of the decentralized reserve. Secondly, it will be tasked with rewarding currency for staking.

Apart from these key functions, ADA will double up as the fall-back currency, should the reserve encounter liquidity problems.

IOHK reported that once they finish researching the finer details of the stable coins, these would be incorporated into ADA so as to offer customers an affordable and predictable pricing plan.

TRON Opens El Salvador Office

Justin Sun, TRON’s chief executive officer, just announced through a tweet that the cryptocurrency would be venturing into the El Salvador market after setting up its first office there.


Recently, El Salvador has been in the news a lot in relation to its sudden interest in cryptocurrencies. The latest headline was regarding their president, Nayib Bukele.


When he spoke at the Bitcoin 2021 Conference that was held in Miami, he revealed that he was working on passing a motion to El Salvador’s congress. 


If the bill is successful, it will allow Bitcoin to be used as a legal tender. In fact, El Salvador will be the very first sovereign country to embrace Bitcoin as a legal tender. 


Interestingly, Bitcoin isn’t the only cryptocurrency that El Salvador is looking to introduce. 


Sun was quite thrilled to make it known to the public that his company would be opening a TRON office in El Salvador. If this happens, TRON (TRX) will actually be the first cryptocurrency firm to set up shop in that country.


This move has been met with positive reviews from both TRON stakeholders and the crypto community in entirety.


Furthermore, there were several tweets and comments from individuals expressing their interest in working for TRON in the newly-opened branch in El Salvador.


Other than being a genuine proponent of TRX, Sun is also a passionate advocate for Bitcoin. When business legend, Elon Musk, recently withdrew his endorsement for the crypto, Sun pledged to purchase every Bitcoin that Musk would sell.


At the same time, El Salvador is teaming up with Strike, the crypto wallet tailored for the Lightning Network. 


Based on these moves, it’s evident just how fast and ready the country is to embrace the cryptocurrency industry. 


Tron’s (TRX) present price is $0.07007 while that of Bitcoin (BTC) stands at $32,839.70.



Crypto Bank Anchorage Introduces Ethereum-Backed Loans

The crypto custodian, Anchorage, intends to incorporate loans backed by the cryptocurrency ethereum as part of its digital collateral options.

The bank aims to offer these loans through BankProv, a subsidiary of Provident Bancorp, and one which was initially known as Provident Bank.

As we speak, Anchorage already provides loans that are backed by Bitcoin via Silvergate Bank.

Georgina Tzanetos, the CEO of BankProv explained how the crypto market ought to be given similar access and rights as traditional financing tools. Legal, well-structured business in America are accorded these privileges and so should the crypto world.

Ethereum’s popularity has been rising in the past couple of months. Many believe that among digital assets, it’s next in line to receive the same level of esteem as Bitcoin.

The recently-announced collaboration between BankProv and Anchorage will certainly help to reinforce Ether’s reputation.

This is particularly so because Anchorage is on a short list of FDIC-insured banks that support and offer this cryptocurrency in its digital products.

Speaking in an interview with CNBC, Kevin O’Leary, Shark Tank money expert, likened Bitcoin to gold and Ethereum to silver.

However, other analysts do not share the same opinion regarding Ethereum. The latter believe that Ethereum still has a long way to go before it hits its climax.

For instance, the analysts at Kraken, which is another crypto exchange platform, recently evaluated Ethereum’s performance.

They discovered that despite the latest price increment, the crypto’s share of the total crypto market has just gotten close to the 18% threshold it achieved earlier in 2021. And even then, this is far away from the 30% mark it attained back in 2017.

Pete Huminston, the manager of Kraken Intelligence, explained that previous performance should not be used to project or dictate a crypto’s performance in the future.

That said, he believes that Ethereum has a great deal of “upside potential” that it’s not tapped into yet.


Litecoin MimbleWimble Approaches

Litecoin’s MimbleWimble to Debut at the End of the Year

The implementation of the eagerly awaited Litecoin protocol of MimbleWimble is on the right course to be launched towards the end of 2021.

David Burkett, who is MimbleWimble’s key developer, made this announcement on Thursday, explaining that the launch is set to take place on LTC mainnet.

In his highly-detailed update regarding the launch, Burkett pointed out that Litecoin’s MimbleWimble code had been subjected to a couple of changes since it was first sent to Github for the review and auditing process.

He also went ahead to explain that the project was grappling when it came to having enough developers on board, who could evaluate the MimbleWimble code.

He mentioned that given how the libmw code had struggled to attract new developers, he would be shutting it down and instead come up with new, smaller and more wholesome PRs in the next couple of weeks.

Following his announcement, the team working at Litecoin has invited developers from around the world, especially those well versed in cryptography and evaluating C++ code.

Interested developers would become a part of the MimbleWimble Telegram group. The plea to acquire more developers was voiced through a tweet.

When it comes to pricing, it appears that Litecoin is following a similar trend to Bitcoin as it tries to reacquire the 200-day moving average.

With the weekend already here, it’s likely that Litecoin will keep on consolidating above the local minimum of $118, which was set just last month and below the $200 resistance.

Also crucial to point out is how dependent Litecoin is to Bitcoin’s trend. Should BTC plummet below $30k in the course of the weekend, LTC would suffer more losses and go below the lower borderline of $118.

Polkadot’s ETP Launched on the Swedish Stock Market

Polkadot Exchange-Traded Product Debuts in Sweden

The financial industry has made significant progress when it comes to integrating crypto assets. Just recently, a new exchange-traded product (ETP) belonging to Polkadot (DOT) debuted on the Swedish stock exchange market.

As we speak, the Nordic Growth Market serves as a platform for trading DOT ETP, which has been dubbed the Valour Polkadot (DOT) SEK.

The ETP, which was launched on the exchange on Monday, can be credited to Valour. Valor, which is a subsidiary firm of DeFi Technologies, deals in the production of digital asset-based ETPs.

When making the public announcement, Diana Biggs, who is the CEO of Valour, stated that Polkadot was thrilled about the forthcoming launch.

She explained that one of the reasons for launching Valour DOT SEK was to offer a solution to the rising demand for retail and institutional investors.

Further, she said that taking this move would foster the company’s blockchain protocols through the ETPs.

The Nordic Growth Market, usually abbreviated as NGM, is an equities market responsible for regulatory approval. Though it’s headquartered in Sweden, it serves clients from several countries.

Throughout the years, renowned entities have used conventional methods to try and increase the exposure of cryptocurrencies. Examples of these methods include:

  • Grayscale’s crypto-based products
  • Chicago Mercantile Exchange’s (CME) Bitcoin
  • Ethereum futures
  • Canadian Bitcoin exchange-traded funds

Investors interested in trading the DOT ETP- which is supported by DOT crypto asset-  will be able to employ conventional stock market measures to do so.

Wondering how you’ll be able to buy and sell the ETP? Well, the process was explained in a statement released by the company.

Essentially, for every exchange-traded product of the firm, which is traded on the stock exchange, Valour would provide full backing by either buying or selling an equal amount of the digital asset in question.

Puma Pay Moves to Binance Smart Chain

PumaPay Migrates to Binance Smart Chain, Ditches Ethereum

PumaPay has made a decision to shift from the Ethereum blockchain, in favor of the more expandable Binance Smart Chain (BNC).

When making the announcement about its forthcoming launch of V3.0, the extensive payment provider said it plans to bridge the two platforms.

Yoav Dror, PumaPay’s CEO, said the company was thrilled about the new move as well as the advancements it would be introducing to its customers.

PumaPay’s shift from Ethereum to BNC is quite unusual. But one of the resulting advantages from this is that PumaPay’s customers will get more token diversity.

More specifically, clients will now have the freedom to pick which settlement currency best suits their billing model.


Furthermore, the shift will offer liquidity pools, which make it possible to swap the firm’s native token with others, such as PMA and other cryptocurrencies.


Also crucial to note is that the new deal will have the charges for processing tokens imposed on executors. This particular scheme will help to encourage decentralization.


Traders, on their part, will be tasked with running the executor nodes, creating savings for the network whilst making money from processing tractions for other traders.


Most importantly, PumaPay will set in place actions that will encourage participation from the community; hence, bolstering the project.

For a long time now, Ethereum has been the go-to blockchain for developers looking to launch fintech.

However, because of its shortcoming in the scalability department, it’s now being overtaken by its competitors.

To be a little more specific, the likes of EOS, Cardano, Tron and Polkadot are slowly becoming the more preferred blockchain platforms. So much so that they stand to draw a considerable clientele base if they’re able to remain well-grounded.

Another aspect that’s causing Ethereum to fall out of favor is their slow block processing pace. Not to mention their gas fees keep soaring, making it all the more unsuitable for PumaPay’s operating model.

In the end, PumaPay hopes that with the new platform, they’ll be able to offer customers and users greater opportunities, alongside faster processing rates and more affordable gas fees.

Bitcoin Joins the Indy 500

Indy 500 to Feature the First Bitcoin-Endorsed Racing Car

Bitcoin intends to participate in one of America’s most prominent car races, the Indianapolis 500 today.

Ed Carpenter Racing (ECR), an American racing team based in Speedway, Indiana, will have the No. 21 Bitcoin Chevy,  lined up at the starting point. There will be 32 other automobiles that will take part in the historic Indianapolis Motor Speedway.

The Chevrolet, which is engraved in Bitcoin logos, and comes in a black and orange color scheme, is the first sponsored creation of such kind from the Bitcoin community.

In a statement released in the course of this month, team owner Carpenter revealed how thrilled he was to be able to showcase his personal interest and exclusive engagement in Bitcoin  all at once.

The Bitcoin-sponsored car is one of the most recent examples of how the cryptocurrency world is collaborating with sports.

Just two months ago, Oakland Athletics revealed that they had approved bitcoin as a form of payment for its season suites.

In April, the CEO and chairman of Sacramento Kings, Vivek Ranadivé, told his players and staff that bitcoin would be available as a payment option.

The man behind the Chevrolet’s wheel is Rinus VeeKay, who is a Dutch driver and winner of last year’s Rookie of the Year award.

Speaking in an interview with Autoweek, earlier this month, Carpenter explained that he saw this as a creative opportunity to beat other racing teams and ultimately win the coveted sponsorship money.

To facilitate payments and donations necessary, ECR has teamed up with Strike, which is a payment platform. With a unique QR code, any individual interested in making a donation will be able to do so.

Wondering why the team chose no. 21 to represent Bitcoin’s race car? Well, according to Carpenter, 21 represents the 21 million bitcoin, created by Satoshi Nakamoto when he was launching the cryptocurrency.