PSV Eindhoven and crypto broker Anycoin Direct have entered into a unique partnership as of August. The cryptocurrency provider will be the Official Partner of PSV for the next two seasons. This unique arrangement between Dutch football club PSV and Anycoin Direct is that they will pay PSV the full sponsorship amount in Bitcoin. By doing so, PSV is the first football club in the EU to raise a part of the sponsorship revenue this way.
Frans Janssen, commercial director of PSV is very enthusiastic about the cooperation, due to the fact that PSV has a lot of faith in cryptocurrencies. “The possibilities and the future that the world of cryptocurrencies offers are very promising,” says Janssen. “As a club in the heart of the Brainport region, we are always working on innovation, and cryptocurrency fits well into this picture.”
PSV’s innovation is shown by the fact that they pay out the entire sponsorship amount in Bitcoin. They are the first football club to enter into a partnership with one of their sponsors in this fashion.
After signing the contract, a wallet was created on which the payment of Bitcoins could be facilitated. “Anycoin paid their sponsor rights to us via a certain number of Bitcoins which we hold in our own wallet,” Janssen says. PSV stated clearly that it has no intention of selling their Bitcoins.
Anycoin Direct is equally delighted about the partnership. “I grew up in the region and have always been a PSV fan. As a technology company from the Brainport region, we are excited about the partnership with PSV. ” says Lennert Vlemmings, COO at Anycoin Direct. “We want to increase awareness of crypto in the Netherlands and introduce people to it in a safe and accessible way. The payment in Bitcoin marks the next step for the adoption of cryptocurrency in the EU.”
By establishing this partnership, PSV has chosen a trusted local partner where you can buy several cryptocurrencies, despite the fact there were several foreign crypto companies interested. “To enter into this partnership with a reliable party that opts for a personal approach is very important for us as a club.” According to Frans Janssen.
The crypto broker, founded in 2013 by three friends, is located in Veghel, a mere 20 kilometres from PSV’s Philips stadium. Because of this, PSV continues its trend of bringing in sponsors from its own region.
The 108-year-old club from Eindhoven, with 24 championships at the highest level, carried out a playful action earlier this year in the form of an NFT. An NFT stands for Non-Fungible Token and is a non-exchangeable, irreplaceable digital certificate of entitlement.
PSV has applied this form of crypto technology by selling footage of the Europa cup 1 final won in NFT format and does not rule out doing more of this kind of playful activities in the future.
PSV is one of the first sports clubs to embrace the cryptocurrency world and the partnership of Anycoin Direct is a testament to that. This unique partnership may be the beginning of a general adoption of crypto in the sports industry
Binance proposes a real-time token burning mechanism to boost BNB value
- Binance has proposed the BEP-95 aimed to burn a percentage of transaction fees as a deflationary measure.
- BEP-95 will occur alongside the quarterly token burn and well after the 100 million token supply is achieved.
Binance Smart Chain (BSC) is taking further steps to incorporate an additional deflationary mechanism to increase token valuation. As announced today, Binance (BNB) is introducing a new Binance Evolution Protocol (BEP) known as BEP-95. The BEP stands out from the network’s occasional token burns since it introduced a real-time burning mechanism.
According to Binance, a fixed portion of gas fees collected by validators in each block will be sent to the burn address. The ratio initially set at 10 percent, is adjustable according to changes proposed by the Binance community. BSC validators get to vote on community proposals, where voting power is based on staked BNB.
For a proposal to be reviewed by the validators, it has to receive a minimum deposit of 2,000 BNB (mainnet). All BNB is returned to holders after the finalization of the voting process. A proposal that wins is that which gathers 50 percent of the total voting power on the mainnet. Binance notes that voted-upon parameters are implemented immediately.
Details of Binance BEP-95 token burning mechanism
BEP-95 became relevant as it speeds up the BNB token burn, and makes the network increasingly decentralized. The BNB supply cap is about 168 million tokens and Binance intends to burn until 100 million tokens remain in circulation. This will take about 5-8 years to complete, according to Binance. The network’s most recent quarterly burn wiped out over 1 million tokens, worth about $639 million, from circulation.
However, the latest update from its blog now says the BEP-95 burn “will continue functioning” even after the above target is attained. With the burn, Binance expects the intrinsic value of the BNB token to increase in tandem with demand. The network notes that validators and delegators may receive fewer tokens from staking, but the “fiat-denominated value of their rewards may increase.” Moreover, BNB has multiple use cases that benefit all holders of the token.
Currently, BEP-95 is in the draft stage and the network is yet to give a specific date for its implementation.
Several blockchains use the crypto-burning mechanism to create token scarcity and a subsequent increase in token value. Ethereum, for instance, uses the EIP-1559 for this purpose.
BNB price action
BNB, the fourth-largest cryptocurrency by market cap, was trading at $494 at press time, according to our data. The token has gained 0.8 percent in the day, and 4.8 percent week-over-week. Similar to other digital assets, BNB has rallied fueled by the Bitcoin-led gains. Crypto investor and YouTuber Lark Davis expects “good things” for the BNB price following its launch of a $1B growth fund.
Google warns crypto investors of Youtube scams amidst high hacking
- Google warn crypto investors to be weary of Youtbe scams.
- Google says hackers impersonate crypto influencers to run scams on YouTube.
- YouTube, a hotbed for crypto scams.
Google’s Threat Analysis Group has warned crypto investors to beware of cryptocurrency scams on Youtube as phishing and impersonation on the video-sharing platform surges.
The Google group noted that a group of hackers is taking over Youtube, rebranding popular Youtube channels of well-known crypto or tech companies. “The channel name, profile picture, and content are all replaced with cryptocurrency branding to impersonate large tech or cryptocurrency exchange firms,” the group said, adding that hackers would live stream videos promising crypto giveaways in exchange for “initial contributions.”
According to the Google group, if these hackers don’t rebrand, they sell pages to the highest bidder depending on how many subscribers the channel has. They note that fake Youtube pages sell anywhere from $3 to $4,000.
The Google group notes that a group of hackers recruited in a Russian-speaking forum are actors behind the campaign.
Crypto investors should be warned as YouTube remains a hotbed for crypto scams
The video-sharing platform so many times has been used as a tool to dupe unsuspecting crypto investors. In December, American crypto exchange Gemini exposed two fake YouTube channels that were pretending to be from the exchange.
“These scam accounts are not our company. We have reported these accounts to YouTube,” Gemini tweeted.
Funny enough, it was not the first time Gemini was being impersonated on Youtube.
Crypto scams have been well perpetrated on the platform that the video giants ban crypto content on its platform. Authorities in the UK also warned young crypto investors with campaigns on Youtube and TikTok against being victims of crypto scams.
The cycle of crypto scams across all platforms is one that may never end. As much as crypto exists, crypto scams would remain a thing. The rise in crypto scams recently has been attributed to the surge in price and adoption of cryptos globally. It is safe to say that with crypto prices going up and more people, corporate organizations adopting cryptos, more scammers will be threatening the burgeoning space.
Binance’s Trading Volume Hits $100 Billion in Just One Day
Binance continues to see unprecedent trading activity while attempting to sail through regulatory hurdles
Binance’s daily volume hit an eye-popping $100 billion on Oct. 20, according to a tweet by CEO Changpeng Zhao.
The leading crypto exchange recorded this crucial milestone on the day Bitcoin, the largest cryptocurrency, reached a new all-time high of $67,276.
Despite introducing stricter measures for users due to severe regulatory scrutiny, Binance enjoys a comfortable lead over other crypto exchanges in both spot and derivatives trading, according to data provided by CoinMarketCap.
Eerier this month, the trading platform also announced a $1 billion ecosystem fund.
Meanwhile, the decentralized finance sector is catching up with centralized behemoths. The total value locked in DeFi protocols has hit $100 billion for the first time.