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Felix Mollen

Articles by Felix Mollen

European Union Could Start Testing a CBDC in 2023, ECB Executive Says

May 17, 2022

With the crash of TerraUSD —the largest algorithmic stablecoin in the ecosystem— and the de-pegging of other stablecoins like Stasis, DEI (not to be confused with DAI and even Tether), financial institutions like the European Central Bank, used this weakness in their favor and started promoting their new CBDCs.
On May 16, Italian economist and Executive Board member of the European Central Bank (ECB), Fabio Panetta, said in a lecture at the National College of Ireland (NCI) that the ECB is working to have a fully functioning digital euro by 2026.
According to Panetta, the ECB has been working on a preparation phase to launch the Digital Euro. This phase will be completed in late 2023, allowing EU member countries to test the new CBDC for the next 3 years before making it

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Europol Adds OneCoin’s Crypto Queen Ruja Ignatova To Its Most Wanted List

May 12, 2022

In the same way that the adoption of cryptocurrencies increased worldwide, so did the Ponzi schemes and other frauds related to the crypto ecosystem. OneCoin is one of the most obvious examples; but Europol is focused on closing the case and put its promoters behind bars —no matter how long it takes.
On May 11, Europol added Ruja Ignatova, founder of the OneCoin Ponzi scheme, to its list of Europe’s most wanted fugitives, offering a reward of up to €5,000 to anyone who helps to track her whereabouts.
As per Europol information, Ignatova is wanted for fraud-related crimes that have affected people’s financial interests in the European Union.
Ruja Ignatova is now on the Most Wanted list of the Europol. Image: EuropolIgnatova Raised Over €5 Billion With OneCoin
Ignatova is

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Dubai Regulator Will Open Offices in The Sandbox Metaverse

May 5, 2022

The government of Dubai is not slowing down its efforts to promote the development of the local crypto industry and its appeal to crypto enthusiasts. On May 03, The Dubai Virtual Assets Regulatory Authority (VARA) announced the purchase of a piece of land in The Sandbox metaverse, meant for the development of virtual headquarters.
According to an official statement, the VARA is stepping into the Metaverse to reach a “borderless audience,” while also improving social inclusion and environmental sustainability by using fewer physical resources to manage its activities.
In addition, VARA’s MetaHQ will serve as the main channel to share experiences and information with all developers, younger people, and players who frequent the Metaverse, thus enabling “secure adoption” to

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Sen. Cynthia Lummis Shares Details of The Crypto Bill She Has Been Working On

May 4, 2022

On May 3, U.S. Senator Cynthia Lummis (R-WY) was interviewed by Axios news media and revealed important details about the crypto bill she hopes to introduce before the end of the year.
The bill, Lummis says, adapts the legal framework so that cryptocurrencies and traditional assets fall under similar regulatory categories.
“We’ve designed it so it works within the customary framework for managing and regulating traditional assets. So, for example, Bitcoin is a commodity. So it would fall under the Commodity Futures Trading Commission for purposes of trading and the spot market and the futures market. And then when something fits in the Howey Test, that makes it a security, it would fall under the Securities Exchange Commission.”
The Bill Won’t Curb Crypto Innovation

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Telegram Users Can Now Trade TON —In Telegram and OKX

April 29, 2022

On April 26, the TON Foundation announced a new bot that enables cryptocurrency transactions using The Open Network’s token TON inside the Telegram app.
This new feature will benefit the more than 550 million users using Telegram, who will be able to send and receive TON without zero fees benefiting from the blockchain once envisioned by Telegram.
The feature launched on April 28, the day TON will be available for purchase on OKX, a Malta-based cryptocurrency exchange previously know as OKEx.

#Toncoin’s ticker has been changed to TON on @okx
The exchange will begin accepting deposits on April 28, starting at 3:00 am UTC, and spot trading will resume at 5:00 UTC.$TON withdrawals will be open starting April 29 at 9:00 am UTC.

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Nissan and Toyota Enter The Metaverse —With Two Different Approaches

April 25, 2022

Tinkering with the Metaverse has become a trend among major brands and companies. This time, it has caught the attention of two of the largest automakers globally, Nissan and Toyota.
On April 22, Japanese automakers Nissan and Toyota announced their entry into the Metaverse to offer new virtual experiences to their users, organizing digital events and building virtual customer service offices.
According to the Japanese newspaper Nikkei Asia, both companies seek to innovate in the Metaverse, offering immersive exhibitions of their cars through the use of virtual reality (VR), all this thanks to their partnerships with the video game developer startup VRChat.
How Nissan and Toyota Approach The Metaverse
Nissan will focus on creating virtual reality rooms for its customers.

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US Sanctions Its First Cryptocurrency Mining Company —And It Is From Russia

April 21, 2022

The U.S. government has just sanctioned the first cryptocurrency mining company, which also happens to be from Russia.
This comes a day after the IMF warned that Russia could potentially evade economic sanctions by mining cryptocurrencies.
On April 20, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned BitRiver, a cryptocurrency mining company based in Moscow, prohibiting any business relations with U.S. citizens.
According to the statement, Russian commercial bank Transkapitalbank and ten subsidiaries of BitRiver and its Swiss-based holding company were also included in the sanctions for allegedly “being owned or controlled by the Russian Federation.”
The U.S. Wants to Prevent Russia From Evading Sanctions
The Treasury Department wants to

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Bitcoin Miners in Kazakhstan To Pay Taxes Correlated to BTC Price

April 16, 2022

Once considered an attractive country for Chinese Bitcoin miners after the country’s crackdown on any BTC mining activity, Kazakhstan now seems to be set to creating new taxes that will negatively impact the industry.
On April 14, the Minister of National Economy, Alibek Kuantyrov, said in a government briefing that his team is working on a tax plan that would link tax payments to the valuation of the mined tokens.
According to Kuantyrov’s statement, first reported by ForkLog, this will help the country financially in tax collection, as it translates into an improvement for the state budget. However, this decision could cause many miners to explore other countries like El Salvador, where the mining tax will be a flat 10% to finance the construction and services of Bitcoin

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Cardano Founder Explains What Users Should Expect From the Upcoming Vasil Hard Fork

April 14, 2022

On April 12, Charles Hoskinson, founder of Cardano, posted a “recap video” on his YouTube channel, explaining the new update that will make Cardano better after the “Vasil” hard fork.
At the beginning of the video, Hoskinson mentioned that he was preparing for the upcoming Consensus 2022, which will take place in Austin, Texas, from June 9-12. There, he expects to show the crypto community and Cardano enthusiasts that IOHK and the Cardano development team are “open for business.”
“We’re there, and we’re trying to get a lot of people there to come and set up booths and talk, and we’re going to obviously host a Cardano specific event at Consensus.”
In addition, Hoskinson announced that the Vasil hard fork (named after his late friend and ADA ambassador Vasil Dabov) will take

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Ethereum Developer Virgil Griffith Sentenced to 5+ Years For Speaking About Ethereum in North Korea

April 13, 2022

On April 12, 2022; Virgil Griffith, a former developer at the Ethereum Foundation, was sentenced to more than 5 years in prison on the charge of conspiracy, after traveling to Pyongyang in 2019, in violation of the international sanctions framed under The International Emergency Economic Powers Act imposed by the government of the United States on the government of North Korea.
Griffith pleaded guilty to one single conspiracy charge for delivering a lecture on cryptocurrencies in North Korea, explaining the use of Ethereum and the basics of smart contracts.
In addition to serving the 63-month prison sentence, Griffith must pay a $100,000 fine to the U.S. government.
Griffith could have faced up to 20 years in prison
Virgil Griffith was arrested in November 2019 in the U.S.

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Ukraine Launches NFT Museum to Remember The War Against Russia —And Raise Funds

March 26, 2022

On March 25, Mykhailo Fedorov, Vice Prime Minister of Ukraine and Minister of Digital Transformation of Ukraine, announced on his official Twitter account the launch of an NFT museum where the most memorable events of the Ukrainian-Russian conflict will be displayed.
This seems to be the materialization of an idea first revealed by Alex Bornyakov and reported by CryptoPotato on March 14.
According to Fedorov, the museum will serve as a place to celebrate “the Ukrainian identity and freedom,” preserving the memory of the events that took place from February 24, when Russia launched its attack on Ukraine.

While Russia uses tanks to destroy Ukraine, we rely on revolutionary blockchain tech. @Meta_History_UA NFT-Museum is launched. The place to keep the memory of war. And the

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Honduras Will Not Adopt Bitcoin as Legal Tender, Central Bank Implies

March 24, 2022

Today, the Central Bank of Honduras (CBH) assured that for now, the country has no intention of following in the footsteps of El Salvador, extinguishing the FOMO sparked by rumors about the possible adoption of bitcoin as a legal tender in the Latin American country.
According to the statement, The Central American country maintains a neutral position towards Bitcoin and cryptocurrencies in general. It has no intention of changing it for now. They stressed that Bitcoin is still not accepted as legal tender in many countries and is not even adequately regulated.
The use of cryptocurrencies in Honduras is neither legalized nor penalized.
The CBH emphasized that cryptocurrencies were not regulated in the country; hence, Hondurans’ problems or risks in transactions would fall

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Colombian Users Sue Binance For Blocking Their Funds

March 19, 2022

What’s worse than having money in your account and then suddenly receiving an email saying that you can’t access it because it presumably comes from illicit activities? That is what happened to a group of young Colombians who used to trade crypto in Binance —and they are not too happy about it.
For more than five months, a group of Colombian users has reported on social media that their accounts were blocked by Binance because they had received money from illicit activities, according to the FIOD (Tax Information and Investigation Service of the Netherlands). Some even reported that funds from their accounts had been subtracted without any authorization.
Several Binance users reported being blocked for more than 5 months
One of those affected is Andrea Torrente, who said

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GameStop To Launch Its NFT Marketplace In Late Q2

March 18, 2022

Last year, the community revived GameStop from what seemed like a slow and painful death under the claws of greedy Wall Street hedge funds. Now, GameStop wants to give back and make the most out of this second chance with the launch of an NFT marketplace to serve gamers, crypto lovers and tech enthusiasts.
On March 17, American video games retailer GameStop revealed its intentions to launch an NFT Marketplace by the end of the second quarter of 2022.
According to its Q1report, the marketplace would be powered by Immutable X, a Layer 2 protocol running on the Ethereum network, allowing NFT to be exchanged instantly with a transaction scalability of 9,000 operations per second, without charging any fees to its users.
GameStop Speeds Up The Launch Of Its NFT Marketplace

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Coinbase NFT Marketplace To Launch “Soon”

March 15, 2022

Coinbase has just announced that it will launch its NFT marketplace… “soon.”
On March 14, Coinbase NFT —the account for Coinbase’s upcoming NFT marketplace— posted on its official Twitter account that its team met with more than 100 content creators to work on the launch of their new NFT marketplace.
However, so far, there is no official launch date. What is clear is that the marketplace will be launched in the near future and will feature several tools and innovations that are not offered by the competition.
Coinbase NFT Tweet. Image: TwitterCoinbase seeks to innovate in the NFT industry.
According to Coinbase, its key differentiator will be the new “social function” with which they seek to improve the interaction between artists and users, allowing them to create a

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Stacks (STX) Surges Upon News of Big Financial Support by OKCoin

March 11, 2022

If you talk to any cryptocurrency aficionado about DeFi, Dapps, DAOs, NFTs, they are unlikely to think of Bitcoin as the first relevant blockchain, but OKCoin wants to change that.
Today, the Asian exchange announced a partnership with Stacks to bring the highlights of the WEB3 revolution to the Bitcoin blockchain – and the investment to achieve this is strong.
OKCoin and Stack Work Towards a More Advanced, Capable Bitcoin Ecosystem
As OKCoin explained on its social networks, they decided to provide $165 Million to a group of projects aimed at developing decentralized applications on Bitcoin.
The project, which they called The Bitcoin Odyssey, is supported by other venture capital firms such as Digital Currency Group, White Star Capital, GSR, among others.
In an interview

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Binance Donates $2.5 Million in Crypto To Help Ukranian Children

March 7, 2022

Binance has just donated to help the children of Ukraine in their country’s ongoing war against Russia, joining a growing wave of individuals within the crypto ecosystem who are giving money and taking a stand for the country’s struggle.
Binance Charity, the non-profit charitable arm of Binance, announced a $2.5 million cryptocurrency donation to UNICEF. The goal is to help cover the organization’s expenses as it supports Ukrainian children and families who have been affected by the war.
Binance and UNICEF Join Forces to Help Ukranian Children
In an official statement, UNICEF thanked Binance for its contribution, assuring that the money came at the right time, as the escalation of the armed conflict is profoundly affecting the population.
The advance of Russian troops and

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BitConnect Founder Indicted For Orchestrating a Global Ponzi Scheme

February 26, 2022

Unlike the BCC token that died several years ago, the case of Bitconnect – the cryptocurrency project that gave rise to the aforementioned cryptocurrency – is still far from over.
This Friday, the U.S. Department of Justice announced that one of BitConnect’s founders was formally indicted on fraud charges associated with the most famous Ponzi scheme in the world of cryptocurrencies.
The Drama Isn’t Over
In an official press release, the Justice Department said that Satish Kumbhani, 36, of Hemal, India; had been charged with conspiracy to commit wire fraud, wire fraud, conspiracy to commit commodity price manipulation, operation of an unlicensed money transmitting business, and conspiracy to commit international money laundering.
All the charges are associated with the

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Jamaica Has Everything Ready For Its New Jam-Dex CBDC

February 19, 2022

No cash, no problem! If you are one of those who think that physical money is old-fashioned, you might want to move to Jamaica, where the Central Bank has a similar stance and is getting closer each day to launching its own CBDC.
In a press release published this week, the Bank of Jamaica announced that it had chosen the name, logo, tagline, and visual image of its new digital currency, which it expects to launch later this year.
Hello Jam-Dex: No Cash, No Problem!
The Bank of Jamaica subjected the entire branding of the CBDC to a public competition.
The name Jam-Dex, which is a short version of Jamaica Digital Exchange and the tagline, “No cash, no problem!” were proposed by Ms. Ashley Payne, who won the prize of 600K Jamaican dollars – or about $3840 – for her entries

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Belarus to Create a Crypto Wallet Registry To Prevent Illicit Activities

February 17, 2022

As the political situation in Belarus evolves, the country’s government has sought to take full advantage of cryptocurrencies. This could be good or bad depending on viewpoints, but a recent decree by President Alexander Lukashenko could again reiginite debates about the role of the state in the promotion and control of cryptocurrency operations.
On February 14, President of Belarus Alexander Lukashenko signed Decree No. 48, “On the register of addresses (identifiers) of virtual wallets and features related to cryptocurrency turnover.” The document orders the creation of a registry to store information on the various cryptocurrency wallets that are being used or could be potentially used for illegal activities in the country.
However, the general framework of the document

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Ethereum Fees Have Not Been This Cheap Since October of 2021

February 14, 2022

Cryptocurrency fans may celebrate the entry of their favorite tokens into the mainstream audience thanks to the impact of the Crypto-Bowl. Still, Ethereum lovers have one more reason to rejoice, as trading ETH hasn’t been this cheap in months.
This phenomenon extends to L2 solutions as well, with almost all of the most popular infraestructures hittting less than $1 on average to send ETH and between $0.31 and $2.18 to swap tokens —a more complex operation— according to L2Fees data.
Using Ethereum Is Getting Cheaper
Ethereum is a kind of Swiss-Army blockchain. Big dApps, decentralized exchanges, smart contracts for enterprise applications, altcoins, shitcoins, stablecoins, NFTs, and countless other innovative products run on this network.
But everything comes at a price,

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CryptoCom Becomes The Official Partner Of The Formula 1 Miami Grand Prix

February 10, 2022 has made a new move in its aggressive sports marketing campaign, partnering once again with Formula 1 to become the official title partner of the new Formula 1 Miami Grand Prix.
The announcement comes just days before the airing of the Super Bowl LVI, the most watched sporting event in the United States, in which the exchange bought a spot to air an ad that could be seen by at least 96.4 million people – if last year’s figures are repeated, which by the way were the lowest in the last 15 years.
The Grand Prix of Crypto
According to a PR shared with Cryptopotato, South Florida Motorsports (SFM), the official promoter of the F1 Miami Grand Prix, has announced as the official title partner of the city’s Grand Prix.
As part of the deal, the

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FTX To Giveaway Free Bitcoin During The Super Bowl LVI

February 8, 2022

Sam Bankman-Fried’s cryptocurrency exchange, FTX, announced that it will give away free Bitcoin to its fans as part of an advertising campaign during Super Bowl LVI on February 13.
The campaign is part of an effort by FTX to gain a more significant brand presence in the more mainstream audience of sports fans – especially considering that the Super Bowl is the most watched sports event in the United States.
The Right Time
Sam Bankman-Fried is an expert in aggressive and creative marketing tactics, and this campaign is no exception. It’s not your typical giveaway, and instead, it basically relies on luck —and timing.
No one knows how much money FTX will donate – and therein lies the creative part of the campaign. The exchange explained that the exact number of Bitcoins to

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Asian Company Uses Blockchain Technology to Prevent Fraud With COVID-19 Vaccines

January 30, 2022

The Asia-based medical services company Zuellig Pharma has developed a blockchain platform to improve its vaccine tracking service and prevent accidents that could compromise the public’s health.
eZTracker, Zuellig Pharma’s management system, guarantees the authenticity of vaccines, preventing the smuggling of medical products and the misappropriation of vaccines and supplies during their official distribution.
How eZTracker Can Prevent Vaccine Frauds
Zuellig Pharma’s eZTracker software guarantees transparency across the entire supply chain by recording the movements of each package from manufacture to delivery and administration.
Because it uses blockchain technology, the information is auditable in real-time, offers instant results, and does not require an intermediary.

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Google Cloud Launches a Digital Assets Team

January 29, 2022

Google Cloud, Google’s online data storage services division, is increasingly focusing on decentralized technologies and announced the creation of a team to focus on building products on the blockchain.
There are already other initiatives currently using blockchain technology to offer cloud storage with Filecoin and Sia at the forefront. Both use a blockchain protocol to connect those who need storage and are willing to pay a share to get it and those who can offer some of their free space. This way, the protocol makes it possible to store the data in a decentralized network that can be maintained even if a stakeholder leaves the grid.
But unlike these decentralized initiatives, Google’s approach is broader. It hopes to use blockchain to offer services for building,

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Joe Biden To Push For Crypto Regulations as a Matter of National Security

January 28, 2022

Joe Biden’s administration wants to clarify once and for all the regulatory landscape surrounding the crypto sphere —taking the opportunity to exert greater control over the industry.
Apparently, within the next few weeks, it is expected that the White House will issue an executive order declaring the regulation of cryptocurrencies as a matter of national security – which would raise the priority level that different federal agencies would have to assign to their efforts to monitor the crypto ecosystem.
A Holistic Vision
According to a report by Barron’s, the national security memorandum would essentially seek to achieve coordination among all branches of the government so as to distinguish and limit the competencies of each of the entities involved.
Currently, there are

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Nirvana NFTs With Rare Pictures Of The Band Will Be Auctioned Next Month

January 22, 2022

Those Nirvana fans with some cash left after the cryptocurrency crash of the last week will have the opportunity to own a piece of the history of their favorite band immortalized on the blockchain.
On February 20, 2022, an auction will be held with never-before-seen images and artworks of Nirvana. The auction will be crypto-only and will take place on the same day as the birthday of Kurt Cobain, leader of the iconic band, who committed suicide on April 5, 1994.
Nirvana is Inmortalized on the Blockchain
The auction will include 27 images and 15 never-before-seen artworks created from a series of pictures taken by photographer Faith West on October 1, 1991, during a band concert at J.C. Dobbs in Philadelphia, six days before the release of the album Nevermind.
The images,

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Soccer Star Neymar Jr. Buys —And Shows Off— His Bored Ape Yacht Club NFT

January 21, 2022

The successful PSG player, goalscorer for the Brazilian national soccer team, and NFT enthusiast Neymar Jr, is the newest member of the elite Bored Ape Yacht Club.
Neymar shared the news with his followers on Twitter, posting a photo of his new pink ape outfitted with flashy futuristic glasses, along with the hashtag #BoredApeYC.
Source: TwitterNeymar Jr. Loves NFTs
On January 20, Neymar changed his profile picture using the Bored Ape 6633 as an avatar. According to OpenSea’s history, the soccer player paid 159.99 ETH for the ape. The price would be around $481.6K USD taking the current ETH price as a reference. This represents an appreciation of more than 66% in just under a month when the same ape sold for 96 ETH.
But Ape 6633 is not the only NFT owned by Neymar. The

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Regulations Can Help Stabilize Stablecoins, Preventing a Possible Run, OCC Says

January 16, 2022

The Acting Comptroller of the Currency of the United States, Michael J. Hsu, gave a speech on January 13, 2022, highlighting the advantages of regulating the cryptocurrency space-specifically stablecoins-as a way to provide peace of mind and security to those using this type of technology.
Speaking at the BritishAmerican Business Transatlantic Finance Forum, Hsu argued that the growth of the cryptocurrency industry had been so swift that the regulatory indifference of previous years was now unsustainable, and there was a need to work on a robust legal framework.
Hsu argued that as more unbanked people begin to use cryptocurrencies as bank substitutes and no longer perceive the need for trusted third parties to transmit money, more regulatory attention is needed before it

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FTX US and Bitstamp USA Are Working to Offer Stock Trading Services

January 14, 2022

Crypto exchanges are looking for ways to expand their domains, and it seems that the blockchain space is no longer enough. Now, the U.S. subsidiaries of FTX and Bitstamp could be about to start offering their customers support for equity trading.
According to a report from Bloomberg, both exchanges are fine-tuning details to enter the world of traditional finance. If their plans come to fruition, both FTX and Bitstamp would offer services diverse enough for their customers to concentrate a significant amount of their wealth under their custody.
Crypto Meets Stocks
It is unclear whether both platforms want to apply to become stock exchanges or brokers, however it is important to note that although both require a tedious regulatory process, the general consensus is that it

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