The decentralized social media platform is launching a whole new set of updates to its native MINDS token, including integration with Uniswap.

Minds, a decentralized social media platform that works on the Ethereum network, will start to use the Defi strengths to set an expansion of its rewards.

The platform launched the news through a tweet thread, on which they also announced various updates for their native MINDS token. Among these updates, there is a new integration with Uniswap, one of the most popular decentralized exchanges (DEX) in the DeFi space. In a detailed document with the initiative, the platform stated:

“For the past months, our team has been working tirelessly to update the functionality/economics of MINDS token with the help of dOrg, a web3 development collective with proven success in the space.” “We are ready to take the MINDS token to the next level.”

Minds: What is it, And How Does it Work?

Minds is a decentralized and open-source social network that bases its functions on Blockchain technology and hopes to improve its social media environment. This social network brings an alternative to other social networks like Twitter and Facebook with a massive focus on freedom of expression and privacy.

Minds also bring a fascinating monetization model. This model is something that sets a difference from the other platforms on the market. This social network allows users to operate direct payments via USD, Bitcoin, or Ether. And it even awards token rewards for the content that its users share. To do this, it has its native token called MINDS.

The same platform claims to be “the anti-Facebook that pays you for your time.” In operation since 2015, Minds has been working to evolve and develop better solutions and has seen significant growth in recent months. Last year, the platform saw 3 million monthly users.

Minds Arrive at DeFi due to Uniswap Integration

In a document detailing the new initiative, the team behind Minds teased it to launch a new decentralized finance (DeFi) functionality through integration with Uniswap. The integration will be effective on March 16 and allow users to serve as liquidity providers, which will help them exchange assets and obtain rewards.

With the initiative, Minds joins the increasing trend of yield agriculture within DeFi, which means that soon its users will gain the ability to earn MINDS token rewards by pooling their holdings of the cryptocurrency liquidity providers to their exchanges.

The decentralized nature of Uniswap – an automated liquidity protocol operated by Ethereum’s smart contracts – fits in with Minds’ decentralized ideals. Unlike a crypto exchange like Coinbase, DEXs do not keep their users’ cryptocurrency funds for themselves.

The Uniswap implementation adheres to a primary feature called “ad mining,” in which cash-adding users can earn advertising on a digital whiteboard within the Minds app.

These users’ respective channels will be advertised in the main newsfeed, offering creators the opportunity to put their content in more people’s hands.

The Ethereum-based social network team also announced a list of new updates for its native token. Among them, Minds will add the ability to purchase MINDS tokens and other cryptocurrencies with fiat currency through a partnership with Transak.

By: Jenson Nuñez

Twitter suddenly deleted two influencers’ accounts and argued that it was a mistake. While other Twitter accounts remain under suspension, some users developed some theories closely related to the NFT fever.

The accounts of some of the most well-known influencers in the crypto space suddenly disappeared after Twitter applied a suspension to them on Wednesday for no reason. Other seven Twitter accounts that belong to popular users related to the crypto industry have been affected.

Journalist and podcaster Peter McCormack added into a list some of the accounts, and there are influencers with an engagement of 300,000 followers. Bitcoin analyst Willy Woo and Bitcoin prediction Stock-to-Flow model creator PlanB reported that their accounts were affected by Twitter, even after they have recovered their accounts.

Other relevant characters on the media still have their Twitter accounts under indefinite suspension. Cryptocurrency advocate TheCryptoDog, trader Carl’ The Moon’, MMCrypto, Koroush AK, and The Chairman (@WSBChairman), all accounts remain disabled on Twitter.

Twitter sent the proper protocol message that let users know that their account is under suspension. Meanwhile, the social media platform led by Jack Dorsey has not provided any comment regarding the event.

Is Twitter Suspending Accounts by Mere Mistake?

Analyst Willy Woo’s account received a six-hour suspension. Woo himself reported the affection in a tweet. Also, the Bitcoin enthusiast Plan B went through another temporary postponement of his Twitter. In both cases, the influencers received an email from Twitter apologizing for the inconvenience.

“We have systems that find and delete multiple automated spam accounts en masse, and yours was marked as spam by mistake.”

Twitter Support had stated that the platform has been experiencing an “increase in cases” of erroneous account suspensions. After receiving a re-activation, the accounts of both figures noted delays in the appearance of subscribers.

However, despite Twitter’s support team stating that their accounts received a flag as spam, Twitter has not removed various accounts that mimic prominent crypto influencers. Many fake accounts that copy suspended accounts are fully operational.

“A blue check of ‘verified’ would fix this and prevent a lot of damage,” this tweet comes from Plan B wrote in response to what happened.McCormack joked about how “curiously” Bitcoin detractor Peter Schiff’s Twitter account does not appear in the list. Schiff, despite being a critic of cryptocurrency, frequently posts comments on the subject on his Twitter.

Theories are Circling Around

Some influencers with suspended accounts are still waiting for the platform to bring a reasonable explanation. Users are trying to understand the decision that led Twitter to obtain a suspension status to these accounts.

Some users have claimed that the suspensions may have something to do with the #NFTBlocklist hashtag, a response to a phenomenon that has seen what some have called “predatory art profit theft accounts” trying to cash in on the frenzy of NFT when tokenizing tweets.

By: Jenson Nuñez

The main cryptocurrency on the market recently exceeded USD 52,000 and seems to be moving towards USD 55,000. Axa Investment Managers says that Bitcoin has price volatility and liquidity problems, but they view blockchain technology positively.

It seems that the main cryptocurrency on the market recently started a new bullish cycle. Bitcoin’s price crossed the USD 52,000 mark after having remained below USD 50,000.

Three cryptocurrency market and economic events accompanied the surge that seems to be propelling Bitcoin towards USD 55,000.

The US Senate approved stimulus checks, which coincided with the recent increase in the price of Bitcoin. The government agency agreed to the anticipated USD 1.9 trillion stimulus bill.

Bitcoin purchase orders also accompanied this increase since large Bitcoin buyers do not hesitate to invest. High-volume purchases of Bitcoin seem more frequent than ever in the cryptocurrency’s history.

As if that were not enough, whales bought Bitcoin before the rise in the price of the crypto asset. According to other data, whale movements seem to have been behind the recent surge in the price of Bitcoin.

US Government Agency to Auction 0.7501 BTC

The US General Services Administration, which seeks to control and support the basic functioning of federal agencies, is auctioning 0.7501 BTC. The agency could sell that amount, whose value is less than 1 Bitcoin but more than USD 43,360, at an auction.

They are selling not just Bitcoin but also impounded cars, a heavy-duty tractor, and a 12,000-gallon-storage container, among others. No one yet knows how the government obtained that Bitcoin.

This is not the first time that the US government has sold Bitcoin or the largest sale that they have made. In 2014, they auctioned more than 30,000 BTC at a total price of USD 19 million. They had seized the stash from the now-defunct Silk Road darknet marketplace.

Venture capitalist Tim Draper acquired it for a price that they did not disclose. The Bitcoin loot that now belongs to Draper is worth more than USD 1.6 billion.

An Investment Firm Criticizes Bitcoin but Is Positive about Blockchain

Investment firm Axa Investment Managers has expressed doubts and criticism about Bitcoin. They are taking into account Bitcoin’s price volatility, liquidity problems, and difficulties in assessing intrinsic value. Besides, they mentioned the high consumption of electricity that mining the cryptocurrency requires.

The investment manager of the company Vincent Vinatier spoke of Bitcoin as a speculative asset that could be worth “USD 10 or USD 10 million”. He said that “the recent performance of Bitcoin is driving great public interest and its adoption by some industrial players is speculative.”

The firm clarified that they have “a more positive view on blockchain technology, given that it has several applications.”

Norwegian Energy Provider Creates New Bitcoin-Focused Company

Aker Solutions, a Norwegian energy service provider, is creating a new business focused on Bitcoin. Its CEO Kjell Rokke recently spoke of the importance of the digital asset in a letter to shareholders.

The company announced the creation of Seetee, a cryptocurrency-focused investment firm looking to get involved in Bitcoin. The spin-off company has already received USD 59 million, equivalent to NOK 500 million.

According to Aker, that amount of money will increase significantly over time as they gain experience and identify exciting opportunities. They explain that Seetee seeks to establish mining operations that transfer surplus electricity to various assets.

By Alexander Salazar

Dan Schulman spoke about the company and its intention to add bitcoin to its reserves soon. The CEO said that the digital payments company is also setting some experiments with Ethereum.

PayPal CEO Dan Schulman revealed the company’s vision regarding bitcoin and Ethereum. He also gave details on the creation of a business unit with a particular focus on cryptocurrencies. The CEO announced the news in February.

Schulman also noted: “There are a lot of opportunities for us to help create that next generation of infrastructure. That’s what this business unit is all about.”

Schulman said: “part of the mission is to promote the use of digital currencies.” The new unit will include transfers by the company’s core technology team and is receiving guide by an advisory council that includes experts in technology, cryptocurrencies, and regulation. PayPal has also turned to Wences Casares, the founder of the Xapo firm, for advice.

PayPal Seeks to “Buy, Sell and Safeguard” Bitcoin and more

Schulman himself knows a lot about the crypto world. In the interview, the CEO spoke about how PayPal’s encryption unit works with smart contracts. Also, Schulman revealed that they are testing Ethereum and other blockchains to add them into the company’s payment services.

Schulman notes that PayPal’s crypto efforts will soon expand beyond “buy, sell, and hold.” The CEO expressed an evident frustration at how the financial system’s digitization has failed to reduce consumers’ costs. He noted about this topic that the average “absorption rate” for transactions has stubbornly remained at 2.8%.

According to the CEO of PayPal, governments and central banks are running an analysis of how blockchain and other new technologies could set cost reductions.

Tesla and other Companies that Added Bitcoin to their Corporate Treasuries

According to its CEO’s statements, Paypal is not currently planning to join companies such as Square, Tesla, and other companies that integrated bitcoin into their corporate treasuries.

“It’s not necessarily at the top of our radar,” Schulman said. “We don’t necessarily like the ups and downs of what can happen if you invest in a certain asset class,” he added.

About the “super application” that PayPal would be developing, some versions are circling on the web, arguing that this app would work mainly as a digital wallet. An excellent example of this digital wallet is the Chinese application WeChat, which serves as a payment wallet and a social network and market platform.

Schulman did not unleash more details about this topic. The media commented that North Americans, unlike the Asian public, “continue to prefer plastic cards or use cash to buy.” For this reason, according to them, it would not be easy to convince people to adopt an application similar to WeChat.

PayPal’s commercial strategy has been changing, changing, and evolving concerning bitcoin and cryptocurrencies since these currencies saw its integration into their leading platform.

By: Jenson Nuñez

Meitu sees bitcoin as a good store of value that can surpass gold. The funds will remain under the custody of a contracted exchange.

Meitu, a Chinese company that focuses on developing artificial intelligence for mobile applications, invested $ 40 million in cryptocurrencies. The purchase happened in bitcoin (BTC) and ether (ETH), Ethereum’s native currency.

The company itself confirmed the purchase through a statement on its website last Sunday. According to the note, Meitu acquired 15,000 ETH and 379.1214267 BTC last Friday, March 5. This purchase also represented a sum of USD 22.1 million in ETH and USD 17.9 million in bitcoin.

This purchase is part of a cryptocurrency investment plan previously approved by the board of directors. The text also clarified that this program’s mission is to invest USD 100 million in cryptocurrencies. However, it is unclear if the rest of the purchase will also be bitcoin, ether, or another functional currency on the market.

The note states that “any cryptocurrency that the group may buy/ sell under the Cryptocurrency Investment Plan will depend on market conditions and will happen at the discretion of the Board.” With this choice, they open a set of possibilities to consider any cryptocurrency, depending on the moment’s conditions.

The statement says that the board went to invest in the two leading cryptocurrencies according to market capitalization, considering that these “should set an improvement to the value for shareholders in the long term.”

For Meitu, the cryptocurrency and blockchain ecosystem is still at an early stage to fulfill a disruptive potential similar to that of the Internet. It wants to play a role in that process.

Meitu said: “The Board considers this to be an example to investors and stakeholders, showing that the Group’s vision and determination are to embrace technological evolution, and therefore prepare its foray into the blockchain industry.”

Meitu: Bitcoin as an Investment and Ether as Entry to the Blockchain Industry

The company considers that bitcoin could turn into a form superior to other stores of value, such as real estate and gold. Meitu is now part of a massive wave of investors putting the bitcoin in the reserve of value asset’s leading role.

For its part, the Board of Directors of the company considers the Ethereum cryptocurrency a potential gateway to the ecosystem of decentralized applications (dApps) that live on this network.

Currently, Meitu is studying how viable it could be to integrate blockchains in its businesses. Those studies add the potential launch of dApps on Ethereum, “as well as identifying suitable overseas blockchain-based projects for potential investments.”

The amount of ETH that the company will acquire could be useful as a “gas reserve” for their possible dApps or as a way to invest in other projects that they find interesting.

Meitu is now part of the wave of institutional investors in bitcoin, which has caused the recent price increases that put BTC around $ 50,000 per unit.

By: Jenson Nuñez

Those traders who do not report their cryptocurrency holdings could face criminal charges or fines. The agency is working jointly with blockchain analytics firms to detect transactions.

A task force that the US Internal Revenue Service (IRS) formed has the mission of reducing cryptocurrency tax evasion. The agency activated the so-called Operation “Hidden Treasure”, which goes against traders who do not declare their crypto-asset profits or holdings.

Agents specialized in tracking cryptocurrencies and services of blockchain analytics companies constitute the unit, according to business magazine Forbes. The department added functions of two IRS agencies: the Criminal Investigation Office and the Civil Anti-Fraud Office.

Carolyn Schenck, the IRS’s national fraud adviser, believes that the operation seeks to “find, track and attribute cryptocurrencies to American taxpayers.” The IRS admitted that it is working on identifying transactions and relating them to traders.

Seeking to Identify the Owners of Cryptocurrencies

Schenk highlighted that the IRS is analyzing blockchains and removing anonymity from cryptocurrency transactions. She added that doing so will allow them to track, find and seize cryptocurrencies in a civil and criminal environment. “We are watching you,” the official said.

The agency did not disclose which blockchain analytics companies are working with them to detect potential Bitcoin fraud. Among the companies that offer this type of service are Chainalysis, Elliptic, CipherTrace, and Coinbase.

The official reported on the patterns that they are looking for within the blockchains to determine whether there are suspicious transactions. These include recurring operations below USD 10,000, that is, just below the limit required to notify them. They are also going after users who use “shell” companies to hide funds and those who “get on and off the chain.”

Consequences of Not Declaring Cryptocurrencies

Failure to declare ownership of or earnings on cryptocurrencies could lead to civil or criminal consequences. The first case consists of fines of up to 75% of undeclared taxes. The second scenario involves court charges, and the user could go to prison if the authorities find him guilty.

Attorney and tax specialist Guinevere Moore believes that users should seek legal advice about the steps to follow. She suggests communicating with lawyers rather than with accountants as there is no principle of confidentiality with the latter. She also stressed that, in the case of the IRS, people should not “bury their heads in the sand.”

The IRS announced new measures to reduce tax fraud, but they have been tracking cryptocurrency transactions since 2015. With this escalation, they are telling traders to declare voluntarily rather than under outside pressure.

In October, the tax authority paid USD 1.25 million to companies Chainalysis and Integra FEC to increase their control over cryptocurrencies. The agency requested a system to track transactions on the Monero Network and the Bitcoin Lightning Network. All of the above shows that they are taking increasingly controlling actions to get Americans to reveal their holdings of Bitcoin.

By Alexander Salazar