Over 4,000 bitcoins from administrative forfeitures and legal cases are set to be auctioned off by the U.S. Marshals Service later this month. To participate, potential bidders have to make a $200,000 deposit they will get back if they don’t win their bids.

Mastercard’s CEO Ajay Banga has detailed why the organization left the Facebook-led Libra Association, making it clear that regulatory and viability concerns were behind the move.

Waves, an open-source blockchain organization, has set up a non-profit foundation in Germany to promote Web 3.0 and blockchain technology while supporting its own infrastructure.

Top stories in the Crypto Roundup today:

• U.S. Marshals to Auction off $37 Million in Bitcoin This Month
• Mastercard CEO Clarifies Firm Left Libra Over Regulatory and Viability Concerns
• Waves Set up a Non-Profit Foundation to Promote Web3 and Blockchain Tech

At the time of writing, bitcoin (BTC) is trading at $9,221.54 (-1.13%) with a daily Top Tier volume of $1.48 billion. As for ether (ETH), it is trading at $186.89 (-0.83%) with a daily Top Tier volume of $478.58 million. The MVIS CryptoCompare Digital Assets 10 Index is currently tracking at 3,317.63 (-0.36%).

U.S. Marshals to Auction off $37 Million in Bitcoin This Month

The U.S. Marshals Service has revealed that it’s putting up 4,040.54 BTC on the auction block on February 18. Potential bidders have to register for the auction by February 12, and have to pay a $200,000 deposit to participate in it. Participants who don’t win their bids will receive the deposit back.

The U.S. Marshals’ press release reads:

"The auction will take place during a six-hour period Feb. 18. Bids will be accepted by email from pre-registered bidders only."

The bitcoin is set to be sold in four lots of 2,500, 1000, 500, and 40.54 BTC each. The cryptocurrency comes from over 50 administrative forfeitures and legal cases. The agency has been auctioning BTC since at least 2014, when investor Tim Draper bought nearly 30,000 bitcoin in an auction of coins seized from the now-defunct Silk Road marketplace.

Mastercard CEO Clarifies Firm Left Libra Over Regulatory and Viability Concerns

The CEO of Mastercard, Ajay Banga, revealed in an interview with the Financial Times why the firm decided to leave the Facebook-led Libra Association. Speaking to the outlet Banga claimed Mastercard initially started reconsidering its position when members were looking to launch a proprietary digital wallet, Calibra.

The 60-year-old CEO added that financial inclusion should mean a government could pay its citizens with the currency, which they could then use to buy goods and services while completely understanding how to do so. Mastercard reportedly also reconsidered its position over the lack of a clear business model. He said:

“When you don’t understand how money gets made, it gets made in ways you don’t like.”

Finally, Banga noted that another red flag was other association members not firmly committing to know-your-customer (KYC), anti-money laundering (AML), and data management controls. Mastercard ended up leaving the Libra Association in October 2019.

Waves Set up a Non-Profit Foundation to Promote Web3 and Blockchain Tech

Open source blockchain platform Waves has set up a non-profit organization in Frankfurt, Germany called the Waves Association. The Association will reportedly be represented by ten community members from six countries: Portugal, Switzerland, Germany, Spain, Russia, and the Netherlands.

Waves’ founder Alexander Ivanov, who’s also a member of the non-profit organization, called its launch an important step in the progress of the Waves ecosystem. He said:

“Through the Association, we will be able to increase the numbers of developers and users, and also plan to attract crypto enthusiasts, who develop other blockchain technologies and solutions.”

A press release details the Waves Association will collaborate with research centers, companies, universities and government across the world to develop decentralized autonomous organization-like tools for governance and blockchain-based solutions, while also supporting the Waves protocol and decentralized network through toolkit development.

Decred (DCR) is the Daily Mover

This week’s Daily Mover featured asset is the native cryptocurrency of the Decred network, DCR. The Decred network prioritizes decentralized governance and decision making on the blockchain and runs autonomously, with holders and miners voting on improvements.

The network was launched back in 2016 by Bitcoin developers who saw a greater need for decentralization and democratization. Decred uses a hybrid Proof-of-Work and Proof-of-Stake consensus algorithm.

The DCR token’s FCAS score is up 10-points over the past three weeks, largely thanks to a 102-point spike in Market Maturity. The spike occurred after Decred started gaining momentum in Africa as AppsAfrica highlighted Decred’s inclusive governance structure, and as Akin Sawyerr, Decred’s community lead in the continent, spoke to CoinDesk about the potential of decentralized finance and governance in African communities.

Decred’s focus on governance may help countries with weak or volatile currencies and institutions, as rules on the blockchain are codified, auditable, and allow anyone to participate in a fair, transparent way.

State of the Crypto by Top Tier Exchange Volume

Build your project with the CryptoCompare API

Terms | Privacy

162 Main Road, Danbury, Chelmsford

England, CM3 4DT

This email may include advertisements by third parties. None of the advertised or promoted products and services have been verified or approved by us and this email is not any endorsement by us of the third party or of their products or services.