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Felix Mollen



Articles by Felix Mollen

New York Attorney General Cracks Down On Cryptocurrency Lending Services

5 days ago

New York Attorney General Letitia James announced on October 18 that she had ordered the shutdown of an unidentified group of cryptocurrency lending platforms operating in the state.
As per an official press release, the companies would be acting in contravention of the stipulations of General Business Law § 352 et seq —better known as the “Martin Act.”
Ms. James argues that cryptocurrency lending platforms are “interest-bearing accounts” and therefore must register with the Office of the Attorney General (OAG) in order to operate in New York.
Cryptocurrency Exchanges Are Not Above the Law
The Office of the New York Attorney did not specify the affected companies; however, the press release reveals that the Attorney General issued five notifications to a number of

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Axie Infinity Announce a New Controversial Update. AXS and SLP Drop -7%

8 days ago

In a recent blog post, the developers of Axie Infinity, the most popular NFT game in the crypto ecosystem, were pleased to reveal that the fighting monsters were the most traded NFT collection of all time and thanked the players for this achievement.
Comparisson between Axie Infinity and the rest of the most popular NFT collections. Image: Axie InfinityNow, just two weeks after that post, the Axie Infinity team announced the 1.1.0a update, with changes to the game’s dynamics… and this part wasn’t too pretty for some.

The Controversial 1.1.0a Update
The game update consists of three main aspects.
First on the list are the traditional technological changes: Fundamentally, the Axie Infinity team made some changes to the Ronin Block Explorer along with some bug fixes. It is

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Coinbase Proposes a New Agency To Regulate The Cryptocurrency Industry

9 days ago

Coinbase, the leading exchange in America, wants to take the relationship with the U.S. government to the next level, issuing a fairly comprehensive proposal on how it believes the cryptocurrency markets and industry should be regulated in the country.
In a presentation titled “Digital Asset Policy Proposal,” the company explains that the ecosystem has grown so much that today it is imperative to improve the regulatory framework, adapting it to the needs of modern society.
For Coinbase, the crypto ecosystem has diverged so much from the world of modern finance that it is not possible to apply legal analogies. It is necessary to create a new regulatory body focused exclusively on controlling the crypto ecosystem.
Forcing the full spectrum of digital assets into supervisory

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Ark Invest Doubles Down On Its Efforts To Offer a Bitcoin Futures ETF

10 days ago

Ark Invest, the asset management firm founded by cryptocurrency enthusiast Cathie Wood,wants to accelerate is crypto strategy and has now officially lent its name to an ETF tracking bitcoin futures.
A bitcoin future is not actually the same as a bitcoin token. Whoever holds futures contracts does not actually hold the cryptocurrency but rather rights to a pact between parties to purchase an asset in the future at a price determined in the present.
Ark Invest Believes in a US-Regulated Bitcoin ETF
According to Bloomberg, Ark Invest is joining the race of institutions with applications for a cryptocurrency ETF. The ARK 21Shares Bitcoin Futures Strategy ETF, ticker ARKA, will invest in bitcoin futures rather than the cryptocurrency itself, which could facilitate its approval,

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JPMorgan Chase CEO Still Thinks Bitcoin is Worthless —But His Clients Disagree

11 days ago

Bitcoin’s impressive performance has shut the mouths of several skeptics who have had to acknowledge that -at least since the last few years- there is some merit in investing in this cryptocurrency. Jamie Dimon, CEO of JPMorgan Chase, is NOT in this group.
The well-known businessman has again doubled down on his views on Bitcoin, asserting that from his perspective, the cryptocurrency lacks any intrinsic value, and he does not advise taking it as a serious investment.
The CEO of JPMorgan Hates Bitcoin, But Loves His Pro-Bitcoin Clients
However, Dimon acknowledged that his opinion is not the most popular one today.
“I personally think that bitcoin is worthless. (However) our clients are adults (and) they disagree. That’s what makes markets.”
The CEO of JPMorgan knows how to

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El Salvador Will Use Its Bitcoin Profits to Build a Massive Pet Hospital

13 days ago

If you didn’t like the way Nayib Bukele was implementing his Bitcoin policy in El Salvador, maybe his latest actions will change your mind, or at least make you admit he wants to be a bit cute.
After experiencing his first days in the green, the president of El Salvador revealed he was going to use the proceeds of his country’s BTC investment to build a massive pet hospital.
The self-described coolest dictator in the world shared the news on his Twitter account a few hours ago, along with other posts referencing Bitcoin, a warning about the imminent financial crisis, a taunt to his opponents who are very silent now that the country is in profit and several retweets of other media outlets.

We’ll start building this pet hospital with our #BTC profits.

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Joe Biden Could Be Working on an Executive Order to Control the Cryptocurrency Industry, Reports

14 days ago

Biden wants to regulate everything, and it seems that cryptocurrencies are directly in his crosshairs. Apparently, the president of the United States is seriously considering issuing an executive order on cryptocurrencies to get better clarity of the landscape and exercise better control over the industry and the activities related to it.
The news, which was initially reported by Bloomberg citing anonymous but familiar sources, comes as no surprise to many ecosystem experts who were already expecting some move considering previous pronouncements by several members of Biden’s executive cabinet.
Order… Finally?
Since Mr. Biden has no ability to effectively issue laws on cryptocurrencies, the executive order comes as a political move by the Democratic president to try to

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Stellar Lumens (XLM) Spikes 12% After News of a Partnership Between Moneygram and the Stellar Foundation

16 days ago

International remittance service MoneyGram is once again dipping its toes into the blockchain pool. The company has just revealed a new partnership with the Stellar Foundation on October 6, 2021, to develop a payments bridge that streamlines money transfers and enables near-instant settlement in USDC, a stablecoin pegged to the U.S. dollar developed by Circle.
The announcement, which was released a few hours ago, highlights Moneygram’s innovative vision, assuring that the partnership “will revolutionize settlement flows.”
Moneygram Has Not Quit On The Blockchain
As explained in the Press Release, Moneygram would use a version of USDC running on the Stellar blockchain as a means to make transactions more efficient. United Texas Bank will serve as a settlement bank between

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Bank of America: Bitcoin is Important; The Crypto Industry is Too Large To Ignore

19 days ago

Bank of America has published its report “Digital Assets Primer: Only the first inning,” led by Alkesh Shah, head of Global Cryptocurrency and Digital Asset Strategy, providing an in-depth analysis of the current state of the blockchain industry from cryptocurrencies to DeFi and NFTs.
The report says that the industries of cryptocurrencies and decentralized finance services have grown to the point of being “too large to ignore.”
BofA’s researchers note that nearly 221 million users have exchanged cryptocurrencies or used a DeFi service, with a steady growth. Similarly, the increased participation of institutional investors is a clear indication that cryptocurrencies are much more than a passing phenomenon driven by retailers.
Bank of America is Bullish About The Crypto

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Coinbase Will Let You Get Your Paycheck in Crypto With a Couple of Clicks

26 days ago

Coinbase, the leading cryptocurrency exchange in the United States, announced a few hours ago that american citizens will be able to automatically receive their paycheck in crypto.
The new “Get Paid in Crypto” service will allow cryptocurrency enthusiasts to directly receive their paycheck in Bitcoin, Ethereum, or any of the 100+ cryptocurrencies available on Coinbase with little to no effort.
Users also have the option to receive payments in U.S. Dollars directly to their Coinbase account, which they can spend with their Coinbase debit card just like a regular bank account. The exchange also offers the option to receive payments in USDC or DAI and earn interest over time.
Now, you’ll save time on the extra steps it takes to move money so you can immediately earn interest

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Cardano Will Soon Have Its First Stablecoin

27 days ago

Software development company COTI announced a few hours ago the issuance of the first stablecoin designed to run on Cardano.
The news was first revealed by Charles Hoskinson, leader of Cardano, and Shahaf Bar-Geffen, CEO of COTI Group, at the Cardano Summit stage in Laramie, Wyoming.
The Djed stablecoin will be issued on Cardano and will promote the growth of its nascent ecosystem, especially now that the blockchain is beginning to support smart contracts and markets have strong expectations about the possible development of DeFi platforms on a blockchain that has been touted as the future Ethereum Killer.
What is Djed and Why Does Cardano Needs a Stablecoin?
A stablecoin is a cryptocurrency designed to maintain a stable value with respect to a reference. The best-known

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RippleX Grants $2 Million to Promote NFT Solutions on the XRP Ledger

28 days ago

Ripple may not be the most beloved company in the crypto-verse, but its perseverance and desire to grow despite setbacks is something to be recognized. RippleX, Ripple’s branch focused on boosting the development of technologies around the XRP Ledger, has recently announced its first wave of XRPL grants, and it is embracing the NFT mania. 
According to an official announcement, RippleX distributed $2 million in total value among 25 chosen applicants from 10 different countries. 
NFTs Are The New Battlefront For Ripple’s XRP Army
The main focus of the applications was the development of open-source projects dealing with NFTs on the XRP Ledger or XRPL. 
XRPL encompasses everything we currently consider the XRP ecosystem and is an evolution of the former Ripple Consensus

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Twitter Launches Support For Bitcoin Tips on Lightning Network. NFTs Could Come Soon

September 23, 2021

Twitter, the favorite social network among cryptocurrency lovers, has just announced that it will let its users to send Bitcoin to any account with a BTC wallet.
Enabling Bitcoin tips is part of an even larger initiative. The company is expanding its support for payment processors of all kinds, including Patreon, Cash App, Venmo, Razorpay, GoFundMe, and Brazilian startup PicPay, which serves as an equivalent to Paypal or Venmo with some additional options such as cashback purchases, returns on deposits or QR payments.
Twitter Embraces Bitcoin
In the article titled “Bringing Tips to Everyone,” Esther Crawford, Twitter’s Staff Product Manager, explained that cryptocurrencies were in tune with Twitter’s philosphy:
We want everyone on Twitter to have access to pathways to get

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Federal Judge Denies Ripple’s Motion To Access The Trading History of the SEC’s Employees

September 22, 2021

A federal judge in New York has denied Ripple Labs’ motion to order the U.S. Securities and Exchange Commission (SEC) to produce records of its employees’ crypto transactions in an effort to prove that the agency did not consider XRP to be a security.
The SEC Wins One Against Ripple
According to an official transcript, Ripple filed the request on August 27. Their rationale for the request was that if it were discovered that the SEC employees had traded XRP, it would at a minimum expose the SEC’s past lack of clarity about the nature of XRP and at most prove that the SEC did not consider XRP to be a security before.
Defendants argue that individual trading decisions will, at a minimum, expose the lack of clarity regarding XRP’s status and whether the SEC believed XRP to be

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Coinbase Secures Another Millionaire Deal With the US Government to Let Them Use Its Blockchain Analytics Software

September 19, 2021

Coinbase and the U.S. Homeland Security have struck a million-dollar deal to allow the U.S. government to use the exchange’s services to analyze American citizens’ data.
According to official documents, The Immigration and Customs Enforcement (ICE) – a branch of the U.S. Homeland Security Dept. dedicated to cross-border crime and illegal immigration – paid Coinbase $1.36 million in licensing fees for Coinbase Analytics software.
Pay to Trace, Pay to Tell
This would be the juiciest contract for Coinbase, which has a long history of collaboration with the U.S. government.
According to the official documents, there is no word on what information will be analyzed or shared by Coinbase. Data from the SAM.gov database assures that the exchange “is the only vendor who can

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Bitdefender Releases Tool To Decrypt Files Affected by REvil/Sodinokibi Ransomware

September 17, 2021

How did the hacker escape the police? -He Ransomware.
Jokes aside, the victims of the infamous REvil/Sodinokibi ransomware now have a reason to celebrate, as they can have access to their files again.
A few hours ago, the cybersecurity company Bitdefender announced that it succesfully developed a tool to decrypt files altered by the REvil/Sodinokibi ransomware, returning them to their natural state.
The Infamous REvil/Sodinokibi Now Has a Cure
According to the announcement, Bitdefender received support from a “trusted law enforcement partner.” The company explains that they cannot provide further details unless and until they have the proper authorization. It is important to note that international investigative agencies are still working to apprehend members of the

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Are We in a Crypto Bubble? We Couldn’t Be Further From it: Ark Invest CEO Says

September 5, 2021

Cathie Wood, CEO of Ark Invest, recently spoke about the market outlook, taking the opportunity to give some love to Bitcoin and the ecosystem of industries that are developing around cryptocurrencies.
Speaking with Yahoo Finance, the financial expert assured that the future looks bright for the world of cryptocurrencies. Wood disagrees with billionaire investor John Paulson’s recent criticism of Bitcoin and cryptocurrencies, claiming that Bitcoin is managing to surpass gold as a store of value in this digital age.
“What we (Ark Investment) think he’s missing about cryptocurrencies is they’re much more than a store of value or digital gold. Bitcoin is a new, global monetary system that is completely decentralized and not subject to the whims of policymakers.”
A few days

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Binance Is Not Authorized To Operate in South Africa, Regulator Says

September 4, 2021

Every day an increasing number of countries turn their back on Binance, sending warnings to their users, letting them know that if they use the exchange, they are basically on their own in case of any inconvenience.
A few hours ago, the Financial Sector Conduct Authority (FSCA) of South Africa issued a Press Release stating that Binance was not authorized to operate in the country.
The regulatory body assures that the company does not have the necessary registration to offer brokerage services or give investment recommendations in the country.
The Financial Sector Conduct Authority (FSCA) warns the public to be cautious andvigilant when dealing with BINANCE GROUP as they are not authorized to give anyfinancial advice or render any intermediary services in terms of the

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Massive Anti Bitcoin Protests Fill The Streets of El Salvador

August 29, 2021

The political situation in El Salvador is only getting worse as the day approaches when the country will start adopting Bitcoin as legal tender.
On September 7 of this year, the waiting period for the Bitcoin Law to become mandatory is over. According to the text of this Law, all economic agents must accept Bitcoin along with the dollar as a means of payment.
Bukele promises that the measure seeks to benefit the people and save the country close to $400 million in remittance commissions, guaranteeing instant and more secure financial transactions.
But Salvadorans do not seem to agree.
The People of El Salvador Protest Against Bitcoin
In the last few days, annoyance and fear of the imminent application of the Law have exacerbated the mood of Salvadorans, and demonstrations

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Jack Dorsey Reveals Efforts to Build a Bitcoin-Centric DEX

August 28, 2021

Square – and Twitter – CEO Jack Dorsey is not just satisfied with saying he loves Bitcoin. He is doing everything he can to realize his dream of making BTC the global currency of the internet.
In Mid July, Dorsey announced the launch of TBD, a new business aimed at facilitating the creation of decentralized financial services. Today he finally revealed that the division will be in charge of developing a decentralized exchange (DEX).

We’ve determined @TDB54566975’s direction: help us build an open platform to create a decentralized exchange for #Bitcoin https://t.co/jHYWHy1qmu
— jack⚡️ (@jack) August 27, 2021

Jack Dorsey did not disclose further information about the platform. So it is likely still in the theoretical stage, however considering the robustness of CashApp,

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Kraken Wants an European License in 2021. An NFT Marketplace Is Under Consideration

August 25, 2021

The crypto exchange Kraken does not want to lag behind in the race to dominate the global cryptocurrency market and is actively working on expanding beyond the United States.
The first and also the most challenging destination is Europe. In an interview for the German news outlet Handelsblatt, Jesse Powell, CEO of Kraken, said that the exchange is in the process of getting a license to operate legally on the continent.
Powell expects everything to be ready before the end of 2021. He did not reveal the status of the negotiations but assured that the company is very interested in Malta, Luxembourg, or Ireland, countries with which the Kraken team is already conducting the respective consultations.
Kraken vs Coinbase
For Kraken, obtaining this license is crucial for its

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Huobi Will Support Crypto-Fiat Operations in Latin America After Partnership With Settle Network

August 22, 2021

The popular cryptocurrency exchange Huobi Global is taking advantage of its competitors’ setbacks to break into new markets.
The latest chess move involves a partnership with Latamex —Settle Network’s on and off-ramp fiat-to-crypto payment gateway— with the goal of enabling purchases and sales of cryptocurrencies with fiat money in Argentina, Brazil, and Mexico.
The exchange also announced a promotion for its customers: It will allow them to buy cryptocurrencies with zero fees as long as they use fiat money during the first month of this service.
A New Option For Crypto-Fiat Operations
According to Jeff Mei, Huobi’s Director of Global Strategy, as a result of the partnership, the exchange enters a market of 600 million potential customers.
“Latin American market holds more

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Huobi Will Support Crypto-Fiat Operations in Latin America

August 22, 2021

The popular cryptocurrency exchange Huobi Global is taking advantage of its competitors’ setbacks to break into new markets.
The latest chess move involves a partnership with Latamex —Settle Network’s on and off-ramp fiat-to-crypto payment gateway— with the goal of enabling purchases and sales of cryptocurrencies with fiat money in Argentina, Brazil, and Mexico.
The exchange also announced a promotion for its customers: It will allow them to buy cryptocurrencies with zero fees as long as they use fiat money during the first month of this service.
A New Option For Crypto-Fiat Operations
According to Jeff Mei, Huobi’s Director of Global Strategy, as a result of the partnership, the exchange enters a market of 600 million potential customers.
“Latin American market holds more

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Bitcoin Realized Cap Hits a New ATH, Glassnode Reveals

August 14, 2021

Well, whoever thought that the bearish sentiment was going to kill Bitcoin was wrong, very wrong. What’s more, one statistic suggests that Bitcoin could be more valuable today than ever before for the ecosystem – including its ATH days.
Bitcoin’s total “realized” market cap today surpassed the numbers registered in April 2021 when its price had topped out.
Bitcoin Realized Cap. Image: GlassnodeThe statistic was shared a few hours ago by the blockchain data provider Glassnode via a tweet as BTC registered a realized cap of $378,768,190,450.72.

📈 #Bitcoin $BTC Realized Cap just reached an ATH of $378,768,190,450.72
View metric:https://t.co/C8JhD26mC1 pic.twitter.com/ohXnmFDkNk
— glassnode alerts (@glassnodealerts) August 14, 2021

Why Does the Realized Cap Matters For

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Bitcoin Dipped and Recovered: The U.S. Infraestructure Bill Drama Was Just a Bump For The BTC Price

August 10, 2021

The nervousness caused by the ongoing discussions of the U.S. Infrastructure Bill does not seem to have affected Bitcoin traders at all.
Bitcoin remained sturdy above the psychological barrier of $45,000 as the Bitcoin bulls went to battle a few hours ago. The U.S. Senate failed to reach an agreement on a series of amendments that would exclude decentralized cryptocurrency service providers – such as wallets, miners, and DeFi protocols – from being considered as “brokers.” Instead, the Senate passed a bill that, under current conditions, could make the development of the crypto industry in the country practically impossible.
A Senator Crashed Bitcoin, But The Bearishness Did Not Last
This unfortunate outcome happened due to the stubbornness of Senator Richard Shelby, who

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Brazil Launches Its First Eco-Friendly Bitcoin ETF (BITH11)

August 8, 2021

Brazil continues to make progress in creating new investment opportunities related to cryptocurrencies. This week, it launched a brand new Bitcoin ETF —with a green twist.
Under ticker BITH11, the Hashdex Nasdaq Bitcoin Reference Price replicates the performance of the Nasdaq Bitcoin Reference Price Index.
This would, in turn, be the second ETF available in Brazil offering 100% exposure to Bitcoin, competing against the QR CME CF Bitcoin Reference Rate or QBTC11 that was also recently approved.
Brazil Has a New Eco-Friendly Bitcoin ETF
But Hashdex’s proposal differs from its QR Assets-managed competitor. It seeks to neutralize carbon emissions from Bitcoin investments.
The so-called First Green Bitcoin ETF in Brazil will use audits by Germany’s Crypto Carbon Ratings

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Brian Brooks Leaves Binance US, Citing ‘Differences’ With the Board —Just As The Head of Binance Brazil Did 3 Weeks Ago

August 7, 2021

A few hours ago, Brian Brooks announced his resignation as CEO of Binance US, a position that he assumed on May 1st of this year.
On his personal Twitter account, Brooks did not elaborate much on the details, simply explaining that there were differences over the strategic direction of the exchange.

Greetings #crypto community. Letting you all know that I have resigned as CEO of ⁦⁦⁦@BinanceUS⁩ . Despite differences over strategic direction, I wish my former colleagues much success. Exciting new things to come!
— Brian Brooks (@BrianBrooksUS) August 6, 2021
Brooks assured that he holds no grudges against the company and wished his colleagues the best of futures.
Binance CEO, CZ, issued an official statement following Brooks’ resignation, assuring that his departure will

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Want a Bitcoin ETF? Try Waiting Until 2023, Wilshire Phoenix Co-Founder Says

July 25, 2021

The massive cryptocurrency boom during the latter half of 2020 and the first half of 2021, coupled with a wave of institutional investors betting billions of dollars on the growth of the ecosystem, helped raise optimistic expectations around the approval of a Bitcoin ETF in the United States.
But one of the previous (unsuccessful) applicants for a Bitcoin ETF believes the odds of this happening anytime soon are very low.
Want a Bitcoin ETF? Better Wait
According to Wilshire Phoenix co-founder William Cai, the SEC does not intend to approve a cryptocurrency ETF anytime soon, despite pressure from prominent investors, entrepreneurs, and even influential politicians.
Speaking with the financial outlet Business Insider, Cali commented that his expectations would be set around

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Amazon Wants a Leader For Its Digital Currency and Blockchain Product Unit

July 24, 2021

Amazon seems determined to maintain its reputation as an innovative company and is looking to experiment with cryptocurrencies through a digital currency payment and blockchain unit.
According to an announcement posted on Thursday, Amazon is looking for a blockchain specialist to lead its Digital Currency and Blockchain strategy.
The Payments Acceptance & Experience team is seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap … You will work closely with teams across Amazon, including AWS, to develop the roadmap, including the customer experience, technical strategy and capabilities as well as the launch strategy.
What Amazon is Looking For
The expert must have at least an MBA or equivalent degree, 10+ years

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45% of the Ultra-Rich Are Interested in Crypto, Goldman Sachs Reports

July 22, 2021

While the world worries about the fall of Bitcoin prices, billionaires are increasingly enamored with the cryptocurrency.
A recent Goldman Sachs study revealed that at least 45% of family offices are interested in investing large amounts of money in cryptocurrencies.
Family offices are firms in charge of managing the money of billionaires such as Amazon’s Jeff Bezos, Google co-founder Sergey Brin or Alibaba’s Jack Ma. Generally, each office manages the wealth of a family.
Family offices usually tend to put their clients’ money in profitable but traditional investments such as private equity, real estate, or investment funds. Still, according to Goldman Sachs, the growth of cryptocurrencies has begun to attract the attention of an increasing number of billionaires.
Family

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