Latest News

Source : Bit Coin News
1 days ago

60 Organizations Launch Campaign Urging US Congress to Protect Privacy

On Wednesday, 60 organizations involved in cryptocurrencies, open-source and free software, and human rights and privacy-preserving projects launched a new campaign calling on the 118th U.S. Congress to protect privacy. The groups, including Fight for the Future, Electric Coin Co., and the Tor Project, insist that Congress needs to deliver policies dedicated to standing up […]
Source : Bit Coin News
1 days ago

Biggest Movers: LTC Races to 9-Month High, ATOM Extends Recent Gains

Litecoin raced to a nine-month high on Feb. 1, following a breakout of a key resistance level. The surge in price comes as the global cryptocurrency market cap rose marginally higher today, and is up by 0.57% as of writing. Cosmos was another notable mover, with prices up for a second straight session. Litecoin (LTC) […]
Source : Bit Coin News
Added today

Following APT’s 400% Rise Since Late December, Aptos Drops 20% From All-Time High 

On Jan. 26, 2023, the cryptocurrency asset aptos (APT) reached an all-time high and then lost 20% of its value over the next five days. In the past 24 hours, it also shed 8.3% against the U.S. dollar. Despite the decline from its all-time high, APT is still up 349% compared to last month’s exchange […]
Source : Bit Coin News
Added today

Federal Reserve Raises Benchmark Interest Rate by 0.25%, Disinflationary Process ‘Early,’ Says Powell 

Federal Reserve Raises Benchmark Interest Rate by 0.25%, Disinflationary Process 'Early,' Says Powell The U.S. Federal Reserve raised its benchmark federal funds rate by 0.25% on Wednesday after markets priced in near 100% certainty the Federal Open Market Committee (FOMC) would codify the quarter-point increase. The FOMC statement further detailed that ongoing rate increases are anticipated to bring inflation down to the target range of 2%. FOMC Outlines […]
Source : Bit Coin News
Added today

Britain Announces Plans for ‘Robust’ Crypto Rules, Launches Consultation

Britain Drafts ‘Robust’ Crypto Rules While Most Firms Don’t Meet AML StandardsThe U.K. has unveiled “ambitious plans” to “robustly regulate” various crypto activities, while seeking to protect customers and grow its economy. In the next three months, British authorities will accept public feedback on the new regulatory proposals designed to govern digital assets like traditional finance. British Government Sets Out to Regulate Crypto Market, Remains Committed […]
Source : Bit Coin News
Added today

London Crowned World’s Leading Cryptocurrency Hub, According to Study

According to research from Recap, a cryptocurrency tax software company, London has become the world’s leading hub for cryptocurrencies. The researchers analyzed eight indicators, including the number of cryptocurrency businesses and the quantity of cryptocurrency ATMs in each country. Key Findings of Recap’s Study on Global Cryptocurrency Hubs Crypto tax firm Recap released a research […]
Source : Bit Coin News
Added today

NFT Sales Soar: January 2023 Reaches Nearly $1 Billion in 30 Days With 41% Increase

NFT Sales Soar: January 2023 Reaches Nearly $1 Billion in 30 Days With 41% IncreaseNon-fungible token (NFT) sales increased 41.96% from the previous month, according to data recorded on Feb. 1, 2023. NFT sales reached nearly $1 billion in 30 days, with an approximate total of $997.53 million. Additionally, the number of digital collectible transactions rose more than 22% in the past month. Bored Ape Yacht Club Dominates, Ethereum […]
Source : Bit Coin News
Added today

Indian Government Introduces New Crypto Tax Penalties

Indian Government Introduces New Crypto Tax PenaltiesThe Indian government has introduced new crypto tax penalties, including for non-payment of crypto tax deducted at source (TDS). Much to the disappointment of the crypto community, Finance Minister Nirmala Sitharaman did not mention crypto in her Budget speech this year. Crypto income remains taxed at 30% while TDS stays at 1%. No Crypto Tax […]
Source : Bit Coin News
Added today

Chinese Economist Urges Government to Reconsider Crypto Ban — Warns of Missed Tech Opportunities

Chinese Economist Urges Government to Reconsider Crypto Ban — Warns of Missed Tech OpportunitiesAn economics professor and former adviser to the People’s Bank of China has urged the Chinese government to reconsider its ban on cryptocurrencies. He warned that banning crypto activities could result in missed opportunities that are “very valuable” to regulated financial systems. Chinese Economist Warns of Missed Opportunities Due to Crypto Ban A former adviser […]
Source : Bit Coin News
Added today

Nigerian Crypto Users and Enthusiasts Dismiss 100% BTC Premium Claims

Nigerian blockchain and crypto enthusiasts have said recent reports suggesting that local residents are paying a premium of almost 100% on top of the prevailing price of bitcoin “are totally false.” They argue that such reports are based on a claim that is being propagated by persons who do not fully grasp the dynamics in […]
Source : Bitcoin Magazine
Added today

Nostr Will Only Scale If It Can Incentivize Users To Run Relays

Nostr, a growing hub for the Bitcoin community, faces some incentives challenges if it’s going to reach significant scale.
Source : Bitcoin Magazine
Added today

LevelField Financial To Become First FDIC-Insured Bank to Offer Traditional Banking And Bitcoin Services

LevelField Financial is set to acquire Burling Bank in a move that would enable access to bitcoin for traditional banking customers.
Source : Bitcoin Magazine
Added today

U.K. Details Plan To Regulate Bitcoin, Cryptocurrency Industry

The United Kingdom has released its first consultation on crypto trading and lending regulation within the country.
Source : Bitcoin Magazine
1 days ago

South African Retail Giant Pick-n-Pay Now Accepts Bitcoin Payments At All Locations

Pick n Pay has partnered with CryptoQR in order to accept bitcoin at more than 2,000 stores.
Source : Bitcoin Magazine
1 days ago

Luxor Technologies Launches The First Bitcoin Mining ASIC Request-for-Quote Platform

Luxor has launched the first ever ASIC RFQ platform with the goal of maximized market transparency and access.
Source : Bitcoin Magazine
1 days ago

Can Artificial Intelligence Make The Bitcoin Rabbit Hole Easier To Explore?

As artificial intelligence tools become more powerful and accessible, can they help more people get a grasp on Bitcoin?
Source : Bitcoin Magazine
1 days ago

Decentralized ‘Twitter Killer’ Nostr Goes Live On Apple’s App Store

Nostr, an open protocol that promises to substitute centrally-controlled social networks such as Twitter, is now live on the Apple App Store with Damus.
Source : Bitcoin Magazine
1 days ago

No Policy Pivot In Sight: “Higher For Longer” Rates On The Horizon

The market is nearly unanimous in expecting a 0.25% rate hike during February's FOMC meeting, yet many expect a “pause” shortly thereafter. We beg to differ.
Source : Bitcoin Magazine
1 days ago

Ordinals Project Launches Enabling NFTs Directly On Bitcoin

The controversial project has been met with equal parts excitement and criticism in regards to its impacts on Bitcoin.
Source : Bitcoin Magazine
2 days ago

Fiat Ruins Work But Bitcoin Rewards Those Who Add Value

How have Big Tech companies laid off so many with no consequences to their operations? Because fiat incentivizes meaningless rent seeking.
Source : Bitcoin Magazine
2 days ago

Strike Launches Instant, Cheap Remittances For The Philippines Using Bitcoin Lightning

U.S. users of Strike can now use Send Globally to send instant, cheap remittances to loved ones in the Philippines.
Source : Bitcoin Magazine
2 days ago

ZEBEDEE And Stattrak Launch New Esports Fantasy Product With Bitcoin Rewards

Stattrak and ZEBEDEE have launched a new fantasy esports platform with real-money rewards in bitcoin for popular games.
Source : Bitcoin Magazine
2 days ago

The Four Worst Ways To Attack Bitcoin

In his latest book, Nouriel Roubini demonstrates the worst ways to try and attack Bitcoin.
Source : Bitcoin Magazine
2 days ago

Twitter Prepping For Payments, Could Include Bitcoin And Crypto: FT

Elon Musk’s Twitter is preparing to add payments functionality that could potentially include cryptocurrency, inside sources told the Financial Times.
Source : Bitcoin Magazine
2 days ago

Mastercard And Binance To Offer Bitcoin, Crypto Card In Brazil

The new bitcoin and crypto-backed prepaid Binance Card is coming to Brazil, one of the exchange’s largest markets.
Source : Bitcoin Magazine
3 days ago

A Presidential Visit To Madeira: Is This Island The Next Bitcoin Paradise?

On a visit to the Portuguese island of Madeira, a delegation of Bitcoiners surfed, met with the president and extended Bitcoin adoption.
Source : Bitcoin Magazine
5 days ago

Bitcoin Sellers Exhausted, Accumulators HODL The Line

Bitcoin supply-side dynamics and on-chain indicators look to be as strong as ever, but macroeconomic headwinds remain for legacy and risk assets.
Source : Bitcoin Magazine
6 days ago

Biden Administration Releases Roadmap To Mitigate Cryptocurrency Risks

The White House has unveiled a roadmap to reduce risks associated with the wider cryptocurrency industry.
Source : Bitcoin Magazine
6 days ago

Senator Ted Cruz Is Bringing Bitcoin To The Capitol With Vending Machines

The Texas Senator has introduced a resolution requesting Capitol vendors to accept bitcoin.
Source : Bitcoin Magazine
6 days ago

The Five Lessons I Learned From Ignoring Bitcoin For Years

Lessons from a HODLer fortunate enough to find Bitcoin after passing on the opportunity repeatedly since 2012.
Source : Bitcoin Magazine
6 days ago

POS Giant Clover Teams Up With Strike To Bring Bitcoin’s Lightning Network To Millions Of Merchants

A 90-day trial period kicks off Clover’s integration with the Bitcoin Lightning Network, enabling faster, cheaper payments at merchants.
Source : Bitcoin Magazine
6 days ago

BitPay Announces Partnership With MoonPay, Removes Bitcoin Trading Fees For Limited Time

BitPay’s partnership with MoonPay is set to offer a superior buyer experience for those looking to purchase cryptocurrencies on the BitPay platform.
Source : Bitcoin Magazine
7 days ago

Fiat Debases Belief, But Bitcoin Makes Us Human

Enslaving us with debt and inflation, the fiat system replaces sincerely-held beliefs. But Bitcoin gives us the chance to be human again.
Source : Bitcoin Magazine
7 days ago

Mt Pelerin Crypto Exchange Adds Support For Bitcoin Lightning Network

The Swiss cryptocurrency exchange will now allow deposits and withdrawals through the Lightning Network.
Source : Bitcoin Magazine
8 days ago

Arizona Senator Introduces Bill To Make Bitcoin Legal Tender In The State

A bill introduced by Sen. Wendy Rogers reflects growing interest in bitcoin from U.S. states.
Source : Bitcoin Magazine
8 days ago

Swiss Bitcoin App Relai Now Allows Companies To Buy Bitcoin

The new Relai Business over-the-counter service will allow businesses to purchase bitcoin quickly.
Source : Bitcoin Magazine
8 days ago

The Kazakhstan Mining Exodus Has Flipped Bitcoin To Clean-Energy Dominance

After Kazakhstan forced out Bitcoin mining operations, the majority of global hash rate is now produced with clean energy.
Source : Bitcoin Magazine
8 days ago

Blockstream Raises $125 Million For Bitcoin Mining Expansion

Led by Kingsway Capital, Blockstream has raised $125 million for the purpose of expanding their institutional mining services.
Source : Bitcoin Magazine
9 days ago

EU Lawmakers Vote To Impose Strict Capital Requirements On Banks Holding Bitcoin And Crypto

Banks would be allowed to hold 2% of capital in bitcoin, but required to have one euro in capital for every euro in cryptocurrency held.
Source : Bitcoin Magazine
9 days ago

World’s Largest Bitcoin ATM Software Platform Acquired By Bitstop Founders

Andrew Barnard and Doug Carrillo of Bitstop have announced the acquisition of Genesis Coin Inc.
Source : Bitcoin Magazine
9 days ago

After the Failure Of Their Stablecoin Experiment, Iran And Russia Will Inevitably Adopt Bitcoin

With their newly-announced stablecoin experiment doomed to fail, Russia and Iran will soon learn Bitcoin is the solution that they want.
Source : Bitcoin Magazine
10 days ago

Announcing “Hunting Sats,” A Bitcoin Wallet Cracking Contest

Shadowy super coders and sat stacking anons from all over the internet are welcome to try and crack a wallet containing millions of sats.
Source : Bitcoin Magazine
10 days ago

In 2023, Bitcoiners Must Stop Shooting (Or Blocking) The Messengers

As the New Year begins, Bitcoiners should take this opportunity to engage with constructive criticism.
Source : Bitcoin Magazine
12 days ago

Crypto Lender Genesis Files For Chapter 11 Bankruptcy

The embattled crypto lender has filed a slew of voluntary bankruptcy notices in order to restructure itself.
Source : Bitcoin Magazine
12 days ago

Mississippi, Missouri Lawmakers Introduce Bills To Protect The Rights To Mine Bitcoin And Run A Node

Committees from both states will soon vote on bills that would provide a variety of protections for Bitcoin mining operations and node runners.
Source : Bitcoin Magazine
13 days ago

Mainstream Bitcoin Exchanges Have Obscured The Value Of Private, P2P Alternatives

Mainstream bitcoin exchanges which collect troves of user data have warped users’ expectations for privacy-preserving, peer-to-peer versions.
Source : Bitcoin Magazine
13 days ago

New Hampshire Commission Recommends Statewide Bitcoin Mining Energy Plan

A commission out of New Hampshire has found that the positive impacts of bitcoin mining on the electricity system are worthy of further consideration.
Source : Bitcoin Magazine
14 days ago

CleanSpark Breaks Ground On 50 Megawatt Bitcoin Mining Expansion

The mining firm will nearly double its existing infrastructure, adding up to 50 Megawatts to the 36 Megawatts already in use.
Source : Bitcoin Magazine
14 days ago

What Black Investors Can Teach You About Bitcoin

Many Black Americans have turned to bitcoin to find a new kind of financial success.
Source : Bitcoin Magazine
14 days ago

Bitcoin Price And Risk Assets Jump In Correlated Move

Bitcoin price correlates with high-beta stocks in the recent move upward. Global liquidity is increasing as financial conditions loosen.
Source : Bitcoin Magazine
14 days ago

Okcoin And Paradigm Announce New Grant Awarded To Bitcoin Core Maintainer Marco Falke

The new grant, in partnership with Paradigm, will bring Okcoin’s support of Bitcoin Core development to $1.5 million.
Source : Bitcoin Magazine
14 days ago

U.S. Department Of Justice Shuts Down Crypto Exchange Bitzlato, CEO Arrested

The DOJ has charged the exchange with facilitating more than $700 million in illicit transactions tied to Russia, money laundering and criminal activity.
Source : Bitcoin Magazine
15 days ago

ZEBEDEE And VIKER Launch Bitcoin Chess, Bitcoin Scratch Mobile Games

Mobile games studio VIKER and bitcoin payments processor ZEBEDEE have once again teamed up to launch two classic games.
Source : Bitcoin Magazine
15 days ago

Dear Normie, Don’t Buy Bitcoin

Too many people invest in bitcoin the asset without fully appreciating all of the value that Bitcoin the technology can provide.
Source : Bitcoin Magazine
15 days ago

Bitcoin Price Reaches $21,000, Shorts Demolished In Biggest Squeeze Since 2021

Bulls take charge with massive upward momentum. Key price levels to watch to determine whether this is another bear market rally or a move with lasting power.
Source : Bitcoin Magazine
16 days ago

Sazmining Launches Hydroelectric-Powered Mining Facility In Wisconsin

The site furthers the company’s goals of providing mining hosting services to a retail audience using sustainable power sources.
Source : Bitcoin Magazine
16 days ago

Bitcoin Is The Solution To The World’s Economic Inequality Problem

After a year of growing economic disparity and damage to Bitcoin’s mainstream reputation, education is the key to solving global inequality.
Source : Bitcoin Magazine
16 days ago

To Becomes Bitcoin’s Go-To Platform, Nostr Will Have To Solve Its Key Management Issues

As Bitcoiners turn to Nostr as a censorship-resistant communication platform, user key management problems will arise.
Source : Bitcoin Magazine
17 days ago

With Confident Ignorance Of Bitcoin, So-Called ‘Experts’ Sacrifice Their Credibility

Recent examples of so-called “experts” speaking confidently, yet incorrectly, about Bitcoin will come back to haunt them.
Source : Bitcoin Magazine
18 days ago

How I Introduced My Younger Sister To Bitcoin

For my sister’s eighteenth birthday, I gave her the gift of bitcoin and some lessons on becoming a sovereign individual.
Source : Cointelegraph
1 days ago

Tiffany Fong flames Celsius, FTX and NY Post: Hall of Flame

Tiffany Fong stumbled into content creation and independent journalism after getting burned on the Celsius bankruptcy, moving forward she has no idea where this will lead.

Source : Cointelegraph
1 days ago

Bitcoin awaits Fed Powell speech as sellers cement $23.5K resistance

Bitcoin trades sideways at the Wall Street open as all eyes are on the Fed and Chair Jerome Powell.

Source : Cointelegraph
1 days ago

Bitcoin advocate Najah Roberts explains why BTC is a tool for empowerment

The Agenda podcast explores the concept of financial sovereignty, Black American empowerment and the promise of Bitcoin with the revolutionary Najah Roberts.

Source : Cointelegraph
1 days ago

Web3 could seize on the decades-old software-as-a-service business model

Web3 needs to set off toward new horizons to continue disrupting traditional industries, and B2B SaaS can enable that.

Source : Cointelegraph
1 days ago

Federal judge bars SBF from contacting FTX and Alameda employees via Signal

Sam Bankman-Fried could also be barred from accessing FTX and Alameda funds as part of his bail conditions, with a judge scheduled to discuss the matter in a Feb. 7 hearing.

Source : Cointelegraph
1 days ago

MakerDAO launches $5M legal defense fund

At its inception, the defense fund will receive a budget of $5 million held in the DAI stablecoin.

Source : Cointelegraph
1 days ago

Why is the crypto market down today?

The crypto market is down today as Bitcoin and stocks correct and investors await Powell’s comments on the size of the next interest rate hike and the health of the US economy.

Source : Cointelegraph
Added today

Price analysis 2/1: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, AVAX

Crypto traders are waiting for the result of today’s FOMC and it’s possible that the recent downside could reverse course if Jerome Powell’s statements hint at an improving U.S. economy.

Source : Cointelegraph
Added today

Meta gets court win in metaverse acquisition plans: Report

If the Federal Trade Commission doesn’t appeal the ruling, Meta will likely be able to acquire additional companies offering metaverse-related products or services.

Source : Cointelegraph
Added today

Retail giant Pick n Pay to accept Bitcoin in 1,628 stores across South Africa

Grocery retailer Pick n Pay is now accepting Bitcoin payments via the Lightning Network nationwide following a three-month testing phase.

Source : Cointelegraph
Added today

What is Solend and how does it work

Solend is a DeFi lending and borrowing protocol on Solana, noted for its high scalability and composability.

Source : Cointelegraph
Added today

US Treasury lists BTC, ETH addresses tied to Russian sanctions evasion group

The government department said it would impose “full blocking sanctions” on Jonatan Zimenkov and his crypto addresses due to his connections with a sanctions evasion network.

Source : Cointelegraph
Added today

Bitcoin bulls plan to flip $23K to support by aiming to win this week’s $1B options expiry

BTC bulls are positioned to win this week’s $1 billion options expiry, but the market’s post-FOMC reaction could alter their plans.

Source : Cointelegraph
Added today

New FTX documentary to spotlight SBF-CZ relationship

The documentary will examine the dynamic relationship between Sam Bankman-Fried and Binance founder Changpeng Zhao.

Source : Cointelegraph
Added today

Judge dismisses proposed class-action suit alleging Coinbase securities sales

The decision did not address the question of whether the 79 tokens in questions were securities, but dismissed claims based on the Securities and Exchange Acts.

Source : Cointelegraph
Added today

Ethereum's Shanghai fork is coming — but it doesn't mean investors should dump ETH

Ethereum’s Shanghai upgrade is tentatively set for March, which means approximately 14% of ETH supply will unlock in the year ahead.

Source : Cointelegraph
Added today

BonqDAO protocol suffers $120M loss after oracle hack

An oracle hack allowed the exploiter to manipulate the price of the AllianceBlock token, leading to an estimated $120 million loss, according to Peckshield.

Source : Cointelegraph
Added today

Bitcoin spikes above $24K as Fed chair Powell talks of ‘disinflation’

While the rate increase was expected by the markets and Jerome Powell indicated more increases will come, the market has reacted positively to the Fed chairman’s comments.

Source : Cointelegraph
Added today

Meta CEO Zuckerberg steadfast on metaverse plans despite $13.7B setback

During a Q4 earnings call, Mark Zuckerberg said he saw no reason to deviate from the company’s long-term metaverse strategy.

Source : Cointelegraph
Added today

72% of institutional traders are crypto-skeptical this year: JPMorgan

Of 835 institutional traders surveyed by JPMorgan, only 14% said they would either keep trading crypto in 2023 or had plans to do so this year.

Source : Cointelegraph
Added today

Bithumb owner arrested in South Korea over alleged embezzlement

The net is closing in on Bithumb executives as the suspected real owner of the exchange is arrested.

Source : Cointelegraph
Added today

Regulatory action against Mango Markets exploiter is a win for DeFi — Moody’s

The SEC and CFTC taking action against the alleged fraudster shows that decentralized finance is becoming a “safer and more welcoming environment,” according to credit rating firm Moody’s.

Source : Cointelegraph
Added today

Bitcoin Ordinals creator looks for fix after first instance of shock porn

A rather unsavory image made it to the front page of the Ordinals website for 30 minutes before it was hidden, however, the image itself is immutable.

Source : Cointelegraph
Added today

Voyager victim calls for trustee to seize control of the estate

The 120-page motion came from a creditor who asked for the appointment of a Chapter 11 trustee, citing alleged fraud and incompetence at Voyager.

Source : Cointelegraph
Added today

Bitcoin bulls must reclaim these 2 levels as ‘death cross’ still looms

BTC price upside depends on whether two long-lost moving averages can be flipped to support, Bitcoin analysis predicts.

Source : Cointelegraph
Added today

State of play: Decentralized domain services reflect on industry progress

Major decentralized domain services weigh in on the state of the industry and the potential for future growth.

Source : Cointelegraph
Added today

Bitcoin paints Nasdaq green as NCI index marks 38% gain in January

The bullish rise of Bitcoin and other altcoins in January helped the Nasdaq Crypto Index to register its third-highest monthly gain.

Source : Cointelegraph
Added today

HSBC needs someone to helm its tokenization efforts

According to a job posting, HSBC is looking for a candidate who knows of digital assets, especially asset tokenization and custody.

Source : Cointelegraph
Added today

Bank of China ex-advisor calls Beijing to reconsider crypto ban

The economist argued that the current crypto ban in China is beneficial in the short term, but big opportunities can be missed in the long run.

Source : Cointelegraph
Added today

Indian retail chain rolls out support for CBDC payments in stores: Report

Reliance Retail has implemented support for the digital rupee in its gourmet store line Freshpik.

Source : Bit Coin News
1 days ago

60 Organizations Launch Campaign Urging US Congress to Protect Privacy

On Wednesday, 60 organizations involved in cryptocurrencies, open-source and free software, and human rights and privacy-preserving projects launched a new campaign calling on the 118th U.S. Congress to protect privacy. The groups, including Fight for the Future, Electric Coin Co., and the Tor Project, insist that Congress needs to deliver policies dedicated to standing up […]
Source : Bit Coin News
1 days ago

Biggest Movers: LTC Races to 9-Month High, ATOM Extends Recent Gains

Litecoin raced to a nine-month high on Feb. 1, following a breakout of a key resistance level. The surge in price comes as the global cryptocurrency market cap rose marginally higher today, and is up by 0.57% as of writing. Cosmos was another notable mover, with prices up for a second straight session. Litecoin (LTC) […]
Source : Bit Coin News
Added today

Following APT’s 400% Rise Since Late December, Aptos Drops 20% From All-Time High 

On Jan. 26, 2023, the cryptocurrency asset aptos (APT) reached an all-time high and then lost 20% of its value over the next five days. In the past 24 hours, it also shed 8.3% against the U.S. dollar. Despite the decline from its all-time high, APT is still up 349% compared to last month’s exchange […]
Source : Bit Coin News
Added today

Federal Reserve Raises Benchmark Interest Rate by 0.25%, Disinflationary Process ‘Early,’ Says Powell 

Federal Reserve Raises Benchmark Interest Rate by 0.25%, Disinflationary Process 'Early,' Says Powell The U.S. Federal Reserve raised its benchmark federal funds rate by 0.25% on Wednesday after markets priced in near 100% certainty the Federal Open Market Committee (FOMC) would codify the quarter-point increase. The FOMC statement further detailed that ongoing rate increases are anticipated to bring inflation down to the target range of 2%. FOMC Outlines […]
Source : Bit Coin News
Added today

Britain Announces Plans for ‘Robust’ Crypto Rules, Launches Consultation

Britain Drafts ‘Robust’ Crypto Rules While Most Firms Don’t Meet AML StandardsThe U.K. has unveiled “ambitious plans” to “robustly regulate” various crypto activities, while seeking to protect customers and grow its economy. In the next three months, British authorities will accept public feedback on the new regulatory proposals designed to govern digital assets like traditional finance. British Government Sets Out to Regulate Crypto Market, Remains Committed […]
Source : Bit Coin News
Added today

London Crowned World’s Leading Cryptocurrency Hub, According to Study

According to research from Recap, a cryptocurrency tax software company, London has become the world’s leading hub for cryptocurrencies. The researchers analyzed eight indicators, including the number of cryptocurrency businesses and the quantity of cryptocurrency ATMs in each country. Key Findings of Recap’s Study on Global Cryptocurrency Hubs Crypto tax firm Recap released a research […]
Source : Bit Coin News
Added today

NFT Sales Soar: January 2023 Reaches Nearly $1 Billion in 30 Days With 41% Increase

NFT Sales Soar: January 2023 Reaches Nearly $1 Billion in 30 Days With 41% IncreaseNon-fungible token (NFT) sales increased 41.96% from the previous month, according to data recorded on Feb. 1, 2023. NFT sales reached nearly $1 billion in 30 days, with an approximate total of $997.53 million. Additionally, the number of digital collectible transactions rose more than 22% in the past month. Bored Ape Yacht Club Dominates, Ethereum […]
Source : Bit Coin News
Added today

Indian Government Introduces New Crypto Tax Penalties

Indian Government Introduces New Crypto Tax PenaltiesThe Indian government has introduced new crypto tax penalties, including for non-payment of crypto tax deducted at source (TDS). Much to the disappointment of the crypto community, Finance Minister Nirmala Sitharaman did not mention crypto in her Budget speech this year. Crypto income remains taxed at 30% while TDS stays at 1%. No Crypto Tax […]
Source : Bit Coin News
Added today

Chinese Economist Urges Government to Reconsider Crypto Ban — Warns of Missed Tech Opportunities

Chinese Economist Urges Government to Reconsider Crypto Ban — Warns of Missed Tech OpportunitiesAn economics professor and former adviser to the People’s Bank of China has urged the Chinese government to reconsider its ban on cryptocurrencies. He warned that banning crypto activities could result in missed opportunities that are “very valuable” to regulated financial systems. Chinese Economist Warns of Missed Opportunities Due to Crypto Ban A former adviser […]
Source : Bit Coin News
Added today

Nigerian Crypto Users and Enthusiasts Dismiss 100% BTC Premium Claims

Nigerian blockchain and crypto enthusiasts have said recent reports suggesting that local residents are paying a premium of almost 100% on top of the prevailing price of bitcoin “are totally false.” They argue that such reports are based on a claim that is being propagated by persons who do not fully grasp the dynamics in […]
Source : Bitcoin Magazine
Added today

Nostr Will Only Scale If It Can Incentivize Users To Run Relays

Nostr, a growing hub for the Bitcoin community, faces some incentives challenges if it’s going to reach significant scale.
Source : Bitcoin Magazine
Added today

LevelField Financial To Become First FDIC-Insured Bank to Offer Traditional Banking And Bitcoin Services

LevelField Financial is set to acquire Burling Bank in a move that would enable access to bitcoin for traditional banking customers.
Source : Bitcoin Magazine
Added today

U.K. Details Plan To Regulate Bitcoin, Cryptocurrency Industry

The United Kingdom has released its first consultation on crypto trading and lending regulation within the country.
Source : Bitcoin Magazine
1 days ago

South African Retail Giant Pick-n-Pay Now Accepts Bitcoin Payments At All Locations

Pick n Pay has partnered with CryptoQR in order to accept bitcoin at more than 2,000 stores.
Source : Bitcoin Magazine
1 days ago

Luxor Technologies Launches The First Bitcoin Mining ASIC Request-for-Quote Platform

Luxor has launched the first ever ASIC RFQ platform with the goal of maximized market transparency and access.
Source : Bitcoin Magazine
1 days ago

Can Artificial Intelligence Make The Bitcoin Rabbit Hole Easier To Explore?

As artificial intelligence tools become more powerful and accessible, can they help more people get a grasp on Bitcoin?
Source : Bitcoin Magazine
1 days ago

Decentralized ‘Twitter Killer’ Nostr Goes Live On Apple’s App Store

Nostr, an open protocol that promises to substitute centrally-controlled social networks such as Twitter, is now live on the Apple App Store with Damus.
Source : Bitcoin Magazine
1 days ago

No Policy Pivot In Sight: “Higher For Longer” Rates On The Horizon

The market is nearly unanimous in expecting a 0.25% rate hike during February's FOMC meeting, yet many expect a “pause” shortly thereafter. We beg to differ.
Source : Bitcoin Magazine
1 days ago

Ordinals Project Launches Enabling NFTs Directly On Bitcoin

The controversial project has been met with equal parts excitement and criticism in regards to its impacts on Bitcoin.
Source : Bitcoin Magazine
2 days ago

Fiat Ruins Work But Bitcoin Rewards Those Who Add Value

How have Big Tech companies laid off so many with no consequences to their operations? Because fiat incentivizes meaningless rent seeking.
Source : Bitcoin Magazine
2 days ago

Strike Launches Instant, Cheap Remittances For The Philippines Using Bitcoin Lightning

U.S. users of Strike can now use Send Globally to send instant, cheap remittances to loved ones in the Philippines.
Source : Bitcoin Magazine
2 days ago

ZEBEDEE And Stattrak Launch New Esports Fantasy Product With Bitcoin Rewards

Stattrak and ZEBEDEE have launched a new fantasy esports platform with real-money rewards in bitcoin for popular games.
Source : Bitcoin Magazine
2 days ago

The Four Worst Ways To Attack Bitcoin

In his latest book, Nouriel Roubini demonstrates the worst ways to try and attack Bitcoin.
Source : Bitcoin Magazine
2 days ago

Twitter Prepping For Payments, Could Include Bitcoin And Crypto: FT

Elon Musk’s Twitter is preparing to add payments functionality that could potentially include cryptocurrency, inside sources told the Financial Times.
Source : Bitcoin Magazine
2 days ago

Mastercard And Binance To Offer Bitcoin, Crypto Card In Brazil

The new bitcoin and crypto-backed prepaid Binance Card is coming to Brazil, one of the exchange’s largest markets.
Source : Bitcoin Magazine
3 days ago

A Presidential Visit To Madeira: Is This Island The Next Bitcoin Paradise?

On a visit to the Portuguese island of Madeira, a delegation of Bitcoiners surfed, met with the president and extended Bitcoin adoption.
Source : Bitcoin Magazine
5 days ago

Bitcoin Sellers Exhausted, Accumulators HODL The Line

Bitcoin supply-side dynamics and on-chain indicators look to be as strong as ever, but macroeconomic headwinds remain for legacy and risk assets.
Source : Bitcoin Magazine
6 days ago

Biden Administration Releases Roadmap To Mitigate Cryptocurrency Risks

The White House has unveiled a roadmap to reduce risks associated with the wider cryptocurrency industry.
Source : Bitcoin Magazine
6 days ago

Senator Ted Cruz Is Bringing Bitcoin To The Capitol With Vending Machines

The Texas Senator has introduced a resolution requesting Capitol vendors to accept bitcoin.
Source : Bitcoin Magazine
6 days ago

The Five Lessons I Learned From Ignoring Bitcoin For Years

Lessons from a HODLer fortunate enough to find Bitcoin after passing on the opportunity repeatedly since 2012.
Source : Bitcoin Magazine
6 days ago

POS Giant Clover Teams Up With Strike To Bring Bitcoin’s Lightning Network To Millions Of Merchants

A 90-day trial period kicks off Clover’s integration with the Bitcoin Lightning Network, enabling faster, cheaper payments at merchants.
Source : Bitcoin Magazine
6 days ago

BitPay Announces Partnership With MoonPay, Removes Bitcoin Trading Fees For Limited Time

BitPay’s partnership with MoonPay is set to offer a superior buyer experience for those looking to purchase cryptocurrencies on the BitPay platform.
Source : Bitcoin Magazine
7 days ago

Fiat Debases Belief, But Bitcoin Makes Us Human

Enslaving us with debt and inflation, the fiat system replaces sincerely-held beliefs. But Bitcoin gives us the chance to be human again.
Source : Bitcoin Magazine
7 days ago

Mt Pelerin Crypto Exchange Adds Support For Bitcoin Lightning Network

The Swiss cryptocurrency exchange will now allow deposits and withdrawals through the Lightning Network.
Source : Bitcoin Magazine
8 days ago

Arizona Senator Introduces Bill To Make Bitcoin Legal Tender In The State

A bill introduced by Sen. Wendy Rogers reflects growing interest in bitcoin from U.S. states.
Source : Bitcoin Magazine
8 days ago

Swiss Bitcoin App Relai Now Allows Companies To Buy Bitcoin

The new Relai Business over-the-counter service will allow businesses to purchase bitcoin quickly.
Source : Bitcoin Magazine
8 days ago

The Kazakhstan Mining Exodus Has Flipped Bitcoin To Clean-Energy Dominance

After Kazakhstan forced out Bitcoin mining operations, the majority of global hash rate is now produced with clean energy.
Source : Bitcoin Magazine
8 days ago

Blockstream Raises $125 Million For Bitcoin Mining Expansion

Led by Kingsway Capital, Blockstream has raised $125 million for the purpose of expanding their institutional mining services.
Source : Bitcoin Magazine
9 days ago

EU Lawmakers Vote To Impose Strict Capital Requirements On Banks Holding Bitcoin And Crypto

Banks would be allowed to hold 2% of capital in bitcoin, but required to have one euro in capital for every euro in cryptocurrency held.
Source : Bitcoin Magazine
9 days ago

World’s Largest Bitcoin ATM Software Platform Acquired By Bitstop Founders

Andrew Barnard and Doug Carrillo of Bitstop have announced the acquisition of Genesis Coin Inc.
Source : Bitcoin Magazine
9 days ago

After the Failure Of Their Stablecoin Experiment, Iran And Russia Will Inevitably Adopt Bitcoin

With their newly-announced stablecoin experiment doomed to fail, Russia and Iran will soon learn Bitcoin is the solution that they want.
Source : Bitcoin Magazine
10 days ago

Announcing “Hunting Sats,” A Bitcoin Wallet Cracking Contest

Shadowy super coders and sat stacking anons from all over the internet are welcome to try and crack a wallet containing millions of sats.
Source : Bitcoin Magazine
10 days ago

In 2023, Bitcoiners Must Stop Shooting (Or Blocking) The Messengers

As the New Year begins, Bitcoiners should take this opportunity to engage with constructive criticism.
Source : Bitcoin Magazine
12 days ago

Crypto Lender Genesis Files For Chapter 11 Bankruptcy

The embattled crypto lender has filed a slew of voluntary bankruptcy notices in order to restructure itself.
Source : Bitcoin Magazine
12 days ago

Mississippi, Missouri Lawmakers Introduce Bills To Protect The Rights To Mine Bitcoin And Run A Node

Committees from both states will soon vote on bills that would provide a variety of protections for Bitcoin mining operations and node runners.
Source : Bitcoin Magazine
13 days ago

Mainstream Bitcoin Exchanges Have Obscured The Value Of Private, P2P Alternatives

Mainstream bitcoin exchanges which collect troves of user data have warped users’ expectations for privacy-preserving, peer-to-peer versions.
Source : Bitcoin Magazine
13 days ago

New Hampshire Commission Recommends Statewide Bitcoin Mining Energy Plan

A commission out of New Hampshire has found that the positive impacts of bitcoin mining on the electricity system are worthy of further consideration.
Source : Bitcoin Magazine
14 days ago

CleanSpark Breaks Ground On 50 Megawatt Bitcoin Mining Expansion

The mining firm will nearly double its existing infrastructure, adding up to 50 Megawatts to the 36 Megawatts already in use.
Source : Bitcoin Magazine
14 days ago

What Black Investors Can Teach You About Bitcoin

Many Black Americans have turned to bitcoin to find a new kind of financial success.
Source : Bitcoin Magazine
14 days ago

Bitcoin Price And Risk Assets Jump In Correlated Move

Bitcoin price correlates with high-beta stocks in the recent move upward. Global liquidity is increasing as financial conditions loosen.
Source : Bitcoin Magazine
14 days ago

Okcoin And Paradigm Announce New Grant Awarded To Bitcoin Core Maintainer Marco Falke

The new grant, in partnership with Paradigm, will bring Okcoin’s support of Bitcoin Core development to $1.5 million.
Source : Bitcoin Magazine
14 days ago

U.S. Department Of Justice Shuts Down Crypto Exchange Bitzlato, CEO Arrested

The DOJ has charged the exchange with facilitating more than $700 million in illicit transactions tied to Russia, money laundering and criminal activity.
Source : Bitcoin Magazine
15 days ago

ZEBEDEE And VIKER Launch Bitcoin Chess, Bitcoin Scratch Mobile Games

Mobile games studio VIKER and bitcoin payments processor ZEBEDEE have once again teamed up to launch two classic games.
Source : Bitcoin Magazine
15 days ago

Dear Normie, Don’t Buy Bitcoin

Too many people invest in bitcoin the asset without fully appreciating all of the value that Bitcoin the technology can provide.
Source : Bitcoin Magazine
15 days ago

Bitcoin Price Reaches $21,000, Shorts Demolished In Biggest Squeeze Since 2021

Bulls take charge with massive upward momentum. Key price levels to watch to determine whether this is another bear market rally or a move with lasting power.
Source : Bitcoin Magazine
16 days ago

Sazmining Launches Hydroelectric-Powered Mining Facility In Wisconsin

The site furthers the company’s goals of providing mining hosting services to a retail audience using sustainable power sources.
Source : Bitcoin Magazine
16 days ago

Bitcoin Is The Solution To The World’s Economic Inequality Problem

After a year of growing economic disparity and damage to Bitcoin’s mainstream reputation, education is the key to solving global inequality.
Source : Bitcoin Magazine
16 days ago

To Becomes Bitcoin’s Go-To Platform, Nostr Will Have To Solve Its Key Management Issues

As Bitcoiners turn to Nostr as a censorship-resistant communication platform, user key management problems will arise.
Source : Bitcoin Magazine
17 days ago

With Confident Ignorance Of Bitcoin, So-Called ‘Experts’ Sacrifice Their Credibility

Recent examples of so-called “experts” speaking confidently, yet incorrectly, about Bitcoin will come back to haunt them.
Source : Bitcoin Magazine
18 days ago

How I Introduced My Younger Sister To Bitcoin

For my sister’s eighteenth birthday, I gave her the gift of bitcoin and some lessons on becoming a sovereign individual.
Source : CryptoNinjas
177 days ago

Crypto risk & intel platform Merkle Science extends its Series A to over $24M

Merkle Science, a predictive crypto risk and intelligence platform, today announced an extension of more than $19 million to its Series A funding round, this now brings the total raised to over $24 million. New investments will help accelerate the company’s growth and be used for expansion across the U.S. and Europe, as well as […]

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Source : CryptoNinjas
177 days ago

“Move-and-earn” app STEPN to utilize LINE Blockchain for the Japanese market

LINE, the Japanese corporation specializing in mobile technologies, announced today that LINE Xenesis and Find Satoshi recently concluded an MOU aiming to utilize LINE Blockchain in the localization of STEPN for the Japanese market. STEPN is a “move-and-earn” blockchain game that lets players earn crypto assets equivalent to the number of steps they’ve taken. Since […]

The post “Move-and-earn” app STEPN to utilize LINE Blockchain for the Japanese market appeared first on CryptoNinjas.

Source : CryptoNinjas
176 days ago

BitPay teams with Dosh to enable cashback rewards on crypto debit card

BitPay, the bitcoin and crypto payment processing platform, announced today that users of its BitPay Card will now be rewarded with automatic cashback rewards when swiping the card at thousands of retailers. Thanks to a new partnership with Dosh, when spending with the BitPay Card, users will see crypto cashback rewards add up directly in […]

The post BitPay teams with Dosh to enable cashback rewards on crypto debit card appeared first on CryptoNinjas.

Source : CryptoNinjas
176 days ago

Brazil payment app PicPay launches new crypto exchange service with Paxos technology

PicPay, a Brazil-based payment app, has announced will now allow its users to buy, sell and hold cryptocurrencies, in its first foray into the crypto market. Today, PicPay launches its cryptocurrency exchange service, which initially supports trading of Bitcoin and Ethereum, as well as USDP. The exchange is operated in partnership with Paxos, a blockchain […]

The post Brazil payment app PicPay launches new crypto exchange service with Paxos technology appeared first on CryptoNinjas.

Source : CryptoNinjas
175 days ago

New Serum powered DEX for Solana from Vybe Network launches

Today it was announced from the Serum community the launch of Vybe DEX, a data-driven trading interface powered by Serum’s central limit order book & matching engine, built by Vybe Network. Vybe Network is a data infrastructure solution that enables the Solana community to query, index, and share on-chain data to build web3 dApps and […]

The post New Serum powered DEX for Solana from Vybe Network launches appeared first on CryptoNinjas.

Source : CryptoNinjas
175 days ago

SynFutures plans to integrate with Router Protocol to improve multi-chain access

SynFutures, a decentralized derivatives exchange, announced today a new partnership with Router, a cross-chain protocol that enables fund transfer, asset swaps, and cross-chain applications. The projects will work together to expand their respective ecosystems and explore integration, taking a crucial step in SynFutures’ mission to become a multi-chain trading platform. Cross-chain, or blockchain interoperability, refers […]

The post SynFutures plans to integrate with Router Protocol to improve multi-chain access appeared first on CryptoNinjas.

Source : CryptoNinjas
175 days ago

Blocknative releases new tool to enable high-speed propagation of ETH transactions

Blocknative, a web3 infrastructure company, today launched the Transaction Distribution Network (TDN). This tool allows blockchain users to respond to pre-chain risks and opportunities faster than ever, ensuring each transaction has the best chance of getting into the next block. The result is better, more predictable outcomes when submitting or replacing transactions. TDN works by […]

The post Blocknative releases new tool to enable high-speed propagation of ETH transactions appeared first on CryptoNinjas.

Source : CryptoNinjas
174 days ago

Crypto exchange Kraken’s second reserves audit adds 5 new assets: USDT, USDC, XRP, ADA, and DOT

Kraken, the popular crypto exchange, has announced the results of its second 2022 Proof of Reserves audit, which has now been expanded beyond *BTC, and ETH* to include USDT, USDC, XRP, ADA*, and DOT.  *Indicates Proof of Reserves audit covered assets held both on Kraken’s spot exchange and Kraken’s staking platform. The addition of five […]

The post Crypto exchange Kraken’s second reserves audit adds 5 new assets: USDT, USDC, XRP, ADA, and DOT appeared first on CryptoNinjas.

Source : CryptoNinjas
98 days ago

Crypto services company Blockchain.com opens waitlist for new Visa debit card

Today, crypto services company Blockchain.com, announced the launch of its new Visa debit card. With the Blockchain.com Visa card, users can spend any crypto in their Blockchain.com Wallet without fees while earning 1% back in crypto on all purchases. Key Features: Works like a debit card – Pay from crypto or cash balances anywhere Visa […]

The post Crypto services company Blockchain.com opens waitlist for new Visa debit card appeared first on CryptoNinjas.

Source : CryptoNinjas
90 days ago

Crypto exchange company OKX secures registration in Bahamas, opens office in Nassau

OKX, one of the largest crypto exchanges by volume and a leading web3 platform, today announced its registration as a Digital Asset Business in The Bahamas under the newly adopted Digital Assets and Registered Exchanges (DARE) Act. The company has also formed a new subsidiary, OKX Bahamas, for which it appointed Dr. Jillian Bethel, a […]

The post Crypto exchange company OKX secures registration in Bahamas, opens office in Nassau appeared first on CryptoNinjas.

Source : CryptoNinjas
86 days ago

Solana-powered sports wagering platform BetDEX to launch ahead of World Cup

BetDEX Labs, the company behind BetDEX, a new sports betting exchange for peer-to-peer wagering, this week announced that the BetDEX Exchange will officially launch on the Solana mainnet on Thursday, November 17th, which coincides with the beginning of the 2022 World Cup. Just recently, BetDEX became one of the first licensed sports betting exchanges built […]

The post Solana-powered sports wagering platform BetDEX to launch ahead of World Cup appeared first on CryptoNinjas.

Source : CryptoNinjas
84 days ago

Pundi X’s on-chain payment app for merchants now called Cashier Pro, adds Tron

Pundi X, a blockchain payments startup, recently announced that its “On-chain payment” function within its XPOS crypto point-of-sale platform is now known as “Cashier Pro” and available for all merchants. Cashier Pro enables merchants to accept crypto payments from 3rd party blockchain wallet users across multiple blockchain networks, including Bitcoin Lightning Network, BNB Chain, Ethereum, and […]

The post Pundi X’s on-chain payment app for merchants now called Cashier Pro, adds Tron appeared first on CryptoNinjas.

Source : CryptoNinjas
84 days ago

HashKey Group receives approval to operate crypto exchange from Hong Kong SFC

Hash Blockchain Limited (HBL), a member of the HashKey Group (HashKey), a blockchain asset financial services group in Asia, announced today it has received approval from the Securities and Futures Commission of Hong Kong (SFC) to operate a virtual asset trading platform, under a Type 1 (dealing in securities) license and a Type 7 (automated […]

The post HashKey Group receives approval to operate crypto exchange from Hong Kong SFC appeared first on CryptoNinjas.

Source : CryptoNinjas
84 days ago

BlockFills launches end-to-end enterprise crypto trading technology stack

BlockFills, a company specializing in building trading and management solutions for cryptocurrency market participants, today announced the launch of Vision Crypto Cloud, a secure, full-service, end-to-end digital asset trading, order management, and risk management platform. The software-as-a-service (SaaS) platform enables institutions to quickly access the crypto ecosystem out of the box, without the multi-year timeline […]

The post BlockFills launches end-to-end enterprise crypto trading technology stack appeared first on CryptoNinjas.

Source : CryptoNinjas
79 days ago

Trust Wallet launches anticipated browser extension of its crypto management app

Trust Wallet, a self-custodial and multi-chain cryptocurrency wallet application, has announced the launch of its brand-new browser extension wallet. Supporting all EVM chains, as well as Solana, it is available now on browsers including Chrome, Brave, and Opera. The browser extension complements Trust Wallet’s mobile wallet, which is the world’s leading mobile crypto wallet with […]

The post Trust Wallet launches anticipated browser extension of its crypto management app appeared first on CryptoNinjas.

Source : CryptoNinjas
79 days ago

Biconomy releases new SDK for better crypto and blockchain development

Biconomy, a web3 development platform & toolkit that superpowers blockchain technology stacks, today announced it has launched a software development kit (SDK) to transform the way developers build easy-to-use decentralized applications (dApps). Since 2019, Biconomy has been engaged with the web3 infrastructure space by building easy-to-integrate, plug-and-play APIs for developers to scale their projects. The […]

The post Biconomy releases new SDK for better crypto and blockchain development appeared first on CryptoNinjas.

Source : CryptoNinjas
77 days ago

Crypto exchange Coinbase to support Easy Bank Transfers for UK users

Coinbase, the popular bitcoin & crypto exchange company, announced today it will be rolling out ‘Easy Bank Transfers’ for UK users. The new feature delivers an easy way to add funds to Coinbase accounts. Through a partnership with TrueLayer, one of Europe’s leading open banking platforms, Coinbase is able to support Easy Bank Transfers, which […]

The post Crypto exchange Coinbase to support Easy Bank Transfers for UK users appeared first on CryptoNinjas.

Source : CryptoNinjas
58 days ago

DFINITY brings new smart contract functionality to Bitcoin with Internet Computer integration

DFINITY Foundation, the not-for-profit organization contributing to the development of the Internet Computer (IC) — a high-speed, internet-scale public blockchain — has announced today the Internet Computer’s mainnet integration with Bitcoin, bringing smart contract functionality to the cryptocurrency. Now, the Internet Computer can serve as a layer-2 for Bitcoin where smart contracts on the Internet […]

The post DFINITY brings new smart contract functionality to Bitcoin with Internet Computer integration appeared first on CryptoNinjas.

Source : CryptoNinjas
56 days ago

Tenderly introduces TXN simulations on its blockchain gateway for efficient dApp development

Tenderly, creators of a blockchain development platform, today announced that it is the first web3 development platform to offer simulations through RPC on its Tenderly Web3 Gateway, the company’s production node as a service. Note, Tenderly already processes more than 50 million simulations per month through its Transaction Simulator. Now, the company is introducing the […]

The post Tenderly introduces TXN simulations on its blockchain gateway for efficient dApp development appeared first on CryptoNinjas.

Source : CryptoNinjas
51 days ago

Crypto derivatives exchange Deribit releases new client verification of assets tool

Deribit, the popular cryptocurrency derivatives exchange, announced today it has launched a new ‘Proof of Reserves‘ tool for clients using the trading platform. Now, clients are provided with the functionality to verify their assets to be included in Deribit’s overall reserves. How it Works Deribit provides all addresses for all on-chain assets and it delivers […]

The post Crypto derivatives exchange Deribit releases new client verification of assets tool appeared first on CryptoNinjas.

Source : CryptoNinjas
44 days ago

DeFi protocol Pods raises $5.6M to support its structured crypto products dApp

Pods, creators of a DeFi platform, announced today that earlier this year, the team raised $5.6M in seed funding to create structured products for crypto-assets. The financing featured investors such as IOSG, Tomahawk, Republic, Framework Ventures, and more. The first strategy on Pods Yield is stETHvv (Ethereum Volatility Vault). stETHvv is a low-risk product focused […]

The post DeFi protocol Pods raises $5.6M to support its structured crypto products dApp appeared first on CryptoNinjas.

Source : CryptoNinjas
28 days ago

Blockchain ecosystem ThunderCore teams with Huobi and MyCointainer in node expansion

ThunderCore, a leading blockchain & web3 ecosystem announced today that they are making a new development push, partnering with new validators as the chain rolls out its new crypto staking model. The newest ThunderCore validators include the famous crypto-asset exchange Huobi and one of the earliest staking platforms in the space, MyCointainer. Users of both […]

The post Blockchain ecosystem ThunderCore teams with Huobi and MyCointainer in node expansion appeared first on CryptoNinjas.

Source : CryptoNinjas
18 days ago

Crypto securitization platform GenTwo links to all Coinbase assets

GenTwo Digital, the crypto-asset securitization platform based out of Crypto Valley in Zug, Switzerland, today announced a partnership with Coinbase, the publicly-listed cryptocurrency platform. This new partnership for GenTwo Digital allows all Coinbase crypto assets to be wrapped in bankable financial investment products and enables financial intermediaries to issue certificates such AMCs (Actively Management Certificates). […]

The post Crypto securitization platform GenTwo links to all Coinbase assets appeared first on CryptoNinjas.

Source : CryptoNinjas
14 days ago

Crypto exchange Gemini launches new electronic OTC trading solution

Gemini, the popular bitcoin & crypto exchange company, today announced the launch of electronic over-the-counter trading (eOTC), an automated crypto trading solution designed for institutions. The Gemini eOTC solution offers a variety of advantages to institutional traders including: Competitive Pricing & Execution: Liquidity is sourced from top-tier liquidity providers with deep liquidity pools, enabling counterparties […]

The post Crypto exchange Gemini launches new electronic OTC trading solution appeared first on CryptoNinjas.

Source : CryptoNinjas
9 days ago

Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

Eventus, a provider of multi-asset class trade surveillance and market risk solutions, announced today that cryptocurrency derivatives exchange Deribit has chosen the firm’s Validus platform to provide market abuse monitoring on the exchange. Headquartered in Panama City, Panama, Deribit is one of the largest cryptocurrency options exchanges by volume and open interest, with approximately 90% […]

The post Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus appeared first on CryptoNinjas.

Source : Cointelegraph
1 days ago

Tiffany Fong flames Celsius, FTX and NY Post: Hall of Flame

Tiffany Fong stumbled into content creation and independent journalism after getting burned on the Celsius bankruptcy, moving forward she has no idea where this will lead.

Source : Cointelegraph
1 days ago

Bitcoin awaits Fed Powell speech as sellers cement $23.5K resistance

Bitcoin trades sideways at the Wall Street open as all eyes are on the Fed and Chair Jerome Powell.

Source : Cointelegraph
1 days ago

Bitcoin advocate Najah Roberts explains why BTC is a tool for empowerment

The Agenda podcast explores the concept of financial sovereignty, Black American empowerment and the promise of Bitcoin with the revolutionary Najah Roberts.

Source : Cointelegraph
1 days ago

Web3 could seize on the decades-old software-as-a-service business model

Web3 needs to set off toward new horizons to continue disrupting traditional industries, and B2B SaaS can enable that.

Source : Cointelegraph
1 days ago

Federal judge bars SBF from contacting FTX and Alameda employees via Signal

Sam Bankman-Fried could also be barred from accessing FTX and Alameda funds as part of his bail conditions, with a judge scheduled to discuss the matter in a Feb. 7 hearing.

Source : Cointelegraph
1 days ago

MakerDAO launches $5M legal defense fund

At its inception, the defense fund will receive a budget of $5 million held in the DAI stablecoin.

Source : Cointelegraph
1 days ago

Why is the crypto market down today?

The crypto market is down today as Bitcoin and stocks correct and investors await Powell’s comments on the size of the next interest rate hike and the health of the US economy.

Source : Cointelegraph
Added today

Price analysis 2/1: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, AVAX

Crypto traders are waiting for the result of today’s FOMC and it’s possible that the recent downside could reverse course if Jerome Powell’s statements hint at an improving U.S. economy.

Source : Cointelegraph
Added today

Meta gets court win in metaverse acquisition plans: Report

If the Federal Trade Commission doesn’t appeal the ruling, Meta will likely be able to acquire additional companies offering metaverse-related products or services.

Source : Cointelegraph
Added today

Retail giant Pick n Pay to accept Bitcoin in 1,628 stores across South Africa

Grocery retailer Pick n Pay is now accepting Bitcoin payments via the Lightning Network nationwide following a three-month testing phase.

Source : Cointelegraph
Added today

What is Solend and how does it work

Solend is a DeFi lending and borrowing protocol on Solana, noted for its high scalability and composability.

Source : Cointelegraph
Added today

US Treasury lists BTC, ETH addresses tied to Russian sanctions evasion group

The government department said it would impose “full blocking sanctions” on Jonatan Zimenkov and his crypto addresses due to his connections with a sanctions evasion network.

Source : Cointelegraph
Added today

Bitcoin bulls plan to flip $23K to support by aiming to win this week’s $1B options expiry

BTC bulls are positioned to win this week’s $1 billion options expiry, but the market’s post-FOMC reaction could alter their plans.

Source : Cointelegraph
Added today

New FTX documentary to spotlight SBF-CZ relationship

The documentary will examine the dynamic relationship between Sam Bankman-Fried and Binance founder Changpeng Zhao.

Source : Cointelegraph
Added today

Judge dismisses proposed class-action suit alleging Coinbase securities sales

The decision did not address the question of whether the 79 tokens in questions were securities, but dismissed claims based on the Securities and Exchange Acts.

Source : Cointelegraph
Added today

Ethereum's Shanghai fork is coming — but it doesn't mean investors should dump ETH

Ethereum’s Shanghai upgrade is tentatively set for March, which means approximately 14% of ETH supply will unlock in the year ahead.

Source : Cointelegraph
Added today

BonqDAO protocol suffers $120M loss after oracle hack

An oracle hack allowed the exploiter to manipulate the price of the AllianceBlock token, leading to an estimated $120 million loss, according to Peckshield.

Source : Cointelegraph
Added today

Bitcoin spikes above $24K as Fed chair Powell talks of ‘disinflation’

While the rate increase was expected by the markets and Jerome Powell indicated more increases will come, the market has reacted positively to the Fed chairman’s comments.

Source : Cointelegraph
Added today

Meta CEO Zuckerberg steadfast on metaverse plans despite $13.7B setback

During a Q4 earnings call, Mark Zuckerberg said he saw no reason to deviate from the company’s long-term metaverse strategy.

Source : Cointelegraph
Added today

72% of institutional traders are crypto-skeptical this year: JPMorgan

Of 835 institutional traders surveyed by JPMorgan, only 14% said they would either keep trading crypto in 2023 or had plans to do so this year.

Source : Cointelegraph
Added today

Bithumb owner arrested in South Korea over alleged embezzlement

The net is closing in on Bithumb executives as the suspected real owner of the exchange is arrested.

Source : Cointelegraph
Added today

Regulatory action against Mango Markets exploiter is a win for DeFi — Moody’s

The SEC and CFTC taking action against the alleged fraudster shows that decentralized finance is becoming a “safer and more welcoming environment,” according to credit rating firm Moody’s.

Source : Cointelegraph
Added today

Bitcoin Ordinals creator looks for fix after first instance of shock porn

A rather unsavory image made it to the front page of the Ordinals website for 30 minutes before it was hidden, however, the image itself is immutable.

Source : Cointelegraph
Added today

Voyager victim calls for trustee to seize control of the estate

The 120-page motion came from a creditor who asked for the appointment of a Chapter 11 trustee, citing alleged fraud and incompetence at Voyager.

Source : Cointelegraph
Added today

Bitcoin bulls must reclaim these 2 levels as ‘death cross’ still looms

BTC price upside depends on whether two long-lost moving averages can be flipped to support, Bitcoin analysis predicts.

Source : Cointelegraph
Added today

State of play: Decentralized domain services reflect on industry progress

Major decentralized domain services weigh in on the state of the industry and the potential for future growth.

Source : Cointelegraph
Added today

Bitcoin paints Nasdaq green as NCI index marks 38% gain in January

The bullish rise of Bitcoin and other altcoins in January helped the Nasdaq Crypto Index to register its third-highest monthly gain.

Source : Cointelegraph
Added today

HSBC needs someone to helm its tokenization efforts

According to a job posting, HSBC is looking for a candidate who knows of digital assets, especially asset tokenization and custody.

Source : Cointelegraph
Added today

Bank of China ex-advisor calls Beijing to reconsider crypto ban

The economist argued that the current crypto ban in China is beneficial in the short term, but big opportunities can be missed in the long run.

Source : Cointelegraph
Added today

Indian retail chain rolls out support for CBDC payments in stores: Report

Reliance Retail has implemented support for the digital rupee in its gourmet store line Freshpik.

Source : Bit Coin News
1 days ago

60 Organizations Launch Campaign Urging US Congress to Protect Privacy

On Wednesday, 60 organizations involved in cryptocurrencies, open-source and free software, and human rights and privacy-preserving projects launched a new campaign calling on the 118th U.S. Congress to protect privacy. The groups, including Fight for the Future, Electric Coin Co., and the Tor Project, insist that Congress needs to deliver policies dedicated to standing up […]
Source : Bit Coin News
1 days ago

Biggest Movers: LTC Races to 9-Month High, ATOM Extends Recent Gains

Litecoin raced to a nine-month high on Feb. 1, following a breakout of a key resistance level. The surge in price comes as the global cryptocurrency market cap rose marginally higher today, and is up by 0.57% as of writing. Cosmos was another notable mover, with prices up for a second straight session. Litecoin (LTC) […]
Source : Bit Coin News
Added today

Following APT’s 400% Rise Since Late December, Aptos Drops 20% From All-Time High 

On Jan. 26, 2023, the cryptocurrency asset aptos (APT) reached an all-time high and then lost 20% of its value over the next five days. In the past 24 hours, it also shed 8.3% against the U.S. dollar. Despite the decline from its all-time high, APT is still up 349% compared to last month’s exchange […]
Source : Bit Coin News
Added today

Federal Reserve Raises Benchmark Interest Rate by 0.25%, Disinflationary Process ‘Early,’ Says Powell 

Federal Reserve Raises Benchmark Interest Rate by 0.25%, Disinflationary Process 'Early,' Says Powell The U.S. Federal Reserve raised its benchmark federal funds rate by 0.25% on Wednesday after markets priced in near 100% certainty the Federal Open Market Committee (FOMC) would codify the quarter-point increase. The FOMC statement further detailed that ongoing rate increases are anticipated to bring inflation down to the target range of 2%. FOMC Outlines […]
Source : Bit Coin News
Added today

Britain Announces Plans for ‘Robust’ Crypto Rules, Launches Consultation

Britain Drafts ‘Robust’ Crypto Rules While Most Firms Don’t Meet AML StandardsThe U.K. has unveiled “ambitious plans” to “robustly regulate” various crypto activities, while seeking to protect customers and grow its economy. In the next three months, British authorities will accept public feedback on the new regulatory proposals designed to govern digital assets like traditional finance. British Government Sets Out to Regulate Crypto Market, Remains Committed […]
Source : Bit Coin News
Added today

London Crowned World’s Leading Cryptocurrency Hub, According to Study

According to research from Recap, a cryptocurrency tax software company, London has become the world’s leading hub for cryptocurrencies. The researchers analyzed eight indicators, including the number of cryptocurrency businesses and the quantity of cryptocurrency ATMs in each country. Key Findings of Recap’s Study on Global Cryptocurrency Hubs Crypto tax firm Recap released a research […]
Source : Bit Coin News
Added today

NFT Sales Soar: January 2023 Reaches Nearly $1 Billion in 30 Days With 41% Increase

NFT Sales Soar: January 2023 Reaches Nearly $1 Billion in 30 Days With 41% IncreaseNon-fungible token (NFT) sales increased 41.96% from the previous month, according to data recorded on Feb. 1, 2023. NFT sales reached nearly $1 billion in 30 days, with an approximate total of $997.53 million. Additionally, the number of digital collectible transactions rose more than 22% in the past month. Bored Ape Yacht Club Dominates, Ethereum […]
Source : Bit Coin News
Added today

Indian Government Introduces New Crypto Tax Penalties

Indian Government Introduces New Crypto Tax PenaltiesThe Indian government has introduced new crypto tax penalties, including for non-payment of crypto tax deducted at source (TDS). Much to the disappointment of the crypto community, Finance Minister Nirmala Sitharaman did not mention crypto in her Budget speech this year. Crypto income remains taxed at 30% while TDS stays at 1%. No Crypto Tax […]
Source : Bit Coin News
Added today

Chinese Economist Urges Government to Reconsider Crypto Ban — Warns of Missed Tech Opportunities

Chinese Economist Urges Government to Reconsider Crypto Ban — Warns of Missed Tech OpportunitiesAn economics professor and former adviser to the People’s Bank of China has urged the Chinese government to reconsider its ban on cryptocurrencies. He warned that banning crypto activities could result in missed opportunities that are “very valuable” to regulated financial systems. Chinese Economist Warns of Missed Opportunities Due to Crypto Ban A former adviser […]
Source : Bit Coin News
Added today

Nigerian Crypto Users and Enthusiasts Dismiss 100% BTC Premium Claims

Nigerian blockchain and crypto enthusiasts have said recent reports suggesting that local residents are paying a premium of almost 100% on top of the prevailing price of bitcoin “are totally false.” They argue that such reports are based on a claim that is being propagated by persons who do not fully grasp the dynamics in […]
Source : Bitcoin Magazine
Added today

Nostr Will Only Scale If It Can Incentivize Users To Run Relays

Nostr, a growing hub for the Bitcoin community, faces some incentives challenges if it’s going to reach significant scale.
Source : Bitcoin Magazine
Added today

LevelField Financial To Become First FDIC-Insured Bank to Offer Traditional Banking And Bitcoin Services

LevelField Financial is set to acquire Burling Bank in a move that would enable access to bitcoin for traditional banking customers.
Source : Bitcoin Magazine
Added today

U.K. Details Plan To Regulate Bitcoin, Cryptocurrency Industry

The United Kingdom has released its first consultation on crypto trading and lending regulation within the country.
Source : Bitcoin Magazine
1 days ago

South African Retail Giant Pick-n-Pay Now Accepts Bitcoin Payments At All Locations

Pick n Pay has partnered with CryptoQR in order to accept bitcoin at more than 2,000 stores.
Source : Bitcoin Magazine
1 days ago

Luxor Technologies Launches The First Bitcoin Mining ASIC Request-for-Quote Platform

Luxor has launched the first ever ASIC RFQ platform with the goal of maximized market transparency and access.
Source : Bitcoin Magazine
1 days ago

Can Artificial Intelligence Make The Bitcoin Rabbit Hole Easier To Explore?

As artificial intelligence tools become more powerful and accessible, can they help more people get a grasp on Bitcoin?
Source : Bitcoin Magazine
1 days ago

Decentralized ‘Twitter Killer’ Nostr Goes Live On Apple’s App Store

Nostr, an open protocol that promises to substitute centrally-controlled social networks such as Twitter, is now live on the Apple App Store with Damus.
Source : Bitcoin Magazine
1 days ago

No Policy Pivot In Sight: “Higher For Longer” Rates On The Horizon

The market is nearly unanimous in expecting a 0.25% rate hike during February's FOMC meeting, yet many expect a “pause” shortly thereafter. We beg to differ.
Source : Bitcoin Magazine
1 days ago

Ordinals Project Launches Enabling NFTs Directly On Bitcoin

The controversial project has been met with equal parts excitement and criticism in regards to its impacts on Bitcoin.
Source : Bitcoin Magazine
2 days ago

Fiat Ruins Work But Bitcoin Rewards Those Who Add Value

How have Big Tech companies laid off so many with no consequences to their operations? Because fiat incentivizes meaningless rent seeking.
Source : Bitcoin Magazine
2 days ago

Strike Launches Instant, Cheap Remittances For The Philippines Using Bitcoin Lightning

U.S. users of Strike can now use Send Globally to send instant, cheap remittances to loved ones in the Philippines.
Source : Bitcoin Magazine
2 days ago

ZEBEDEE And Stattrak Launch New Esports Fantasy Product With Bitcoin Rewards

Stattrak and ZEBEDEE have launched a new fantasy esports platform with real-money rewards in bitcoin for popular games.
Source : Bitcoin Magazine
2 days ago

The Four Worst Ways To Attack Bitcoin

In his latest book, Nouriel Roubini demonstrates the worst ways to try and attack Bitcoin.
Source : Bitcoin Magazine
2 days ago

Twitter Prepping For Payments, Could Include Bitcoin And Crypto: FT

Elon Musk’s Twitter is preparing to add payments functionality that could potentially include cryptocurrency, inside sources told the Financial Times.
Source : Bitcoin Magazine
2 days ago

Mastercard And Binance To Offer Bitcoin, Crypto Card In Brazil

The new bitcoin and crypto-backed prepaid Binance Card is coming to Brazil, one of the exchange’s largest markets.
Source : Bitcoin Magazine
3 days ago

A Presidential Visit To Madeira: Is This Island The Next Bitcoin Paradise?

On a visit to the Portuguese island of Madeira, a delegation of Bitcoiners surfed, met with the president and extended Bitcoin adoption.
Source : Bitcoin Magazine
5 days ago

Bitcoin Sellers Exhausted, Accumulators HODL The Line

Bitcoin supply-side dynamics and on-chain indicators look to be as strong as ever, but macroeconomic headwinds remain for legacy and risk assets.
Source : Bitcoin Magazine
6 days ago

Biden Administration Releases Roadmap To Mitigate Cryptocurrency Risks

The White House has unveiled a roadmap to reduce risks associated with the wider cryptocurrency industry.
Source : Bitcoin Magazine
6 days ago

Senator Ted Cruz Is Bringing Bitcoin To The Capitol With Vending Machines

The Texas Senator has introduced a resolution requesting Capitol vendors to accept bitcoin.
Source : Bitcoin Magazine
6 days ago

The Five Lessons I Learned From Ignoring Bitcoin For Years

Lessons from a HODLer fortunate enough to find Bitcoin after passing on the opportunity repeatedly since 2012.
Source : Bitcoin Magazine
6 days ago

POS Giant Clover Teams Up With Strike To Bring Bitcoin’s Lightning Network To Millions Of Merchants

A 90-day trial period kicks off Clover’s integration with the Bitcoin Lightning Network, enabling faster, cheaper payments at merchants.
Source : Bitcoin Magazine
6 days ago

BitPay Announces Partnership With MoonPay, Removes Bitcoin Trading Fees For Limited Time

BitPay’s partnership with MoonPay is set to offer a superior buyer experience for those looking to purchase cryptocurrencies on the BitPay platform.
Source : Bitcoin Magazine
7 days ago

Fiat Debases Belief, But Bitcoin Makes Us Human

Enslaving us with debt and inflation, the fiat system replaces sincerely-held beliefs. But Bitcoin gives us the chance to be human again.
Source : Bitcoin Magazine
7 days ago

Mt Pelerin Crypto Exchange Adds Support For Bitcoin Lightning Network

The Swiss cryptocurrency exchange will now allow deposits and withdrawals through the Lightning Network.
Source : Bitcoin Magazine
8 days ago

Arizona Senator Introduces Bill To Make Bitcoin Legal Tender In The State

A bill introduced by Sen. Wendy Rogers reflects growing interest in bitcoin from U.S. states.
Source : Bitcoin Magazine
8 days ago

Swiss Bitcoin App Relai Now Allows Companies To Buy Bitcoin

The new Relai Business over-the-counter service will allow businesses to purchase bitcoin quickly.
Source : Bitcoin Magazine
8 days ago

The Kazakhstan Mining Exodus Has Flipped Bitcoin To Clean-Energy Dominance

After Kazakhstan forced out Bitcoin mining operations, the majority of global hash rate is now produced with clean energy.
Source : Bitcoin Magazine
8 days ago

Blockstream Raises $125 Million For Bitcoin Mining Expansion

Led by Kingsway Capital, Blockstream has raised $125 million for the purpose of expanding their institutional mining services.
Source : Bitcoin Magazine
9 days ago

EU Lawmakers Vote To Impose Strict Capital Requirements On Banks Holding Bitcoin And Crypto

Banks would be allowed to hold 2% of capital in bitcoin, but required to have one euro in capital for every euro in cryptocurrency held.
Source : Bitcoin Magazine
9 days ago

World’s Largest Bitcoin ATM Software Platform Acquired By Bitstop Founders

Andrew Barnard and Doug Carrillo of Bitstop have announced the acquisition of Genesis Coin Inc.
Source : Bitcoin Magazine
9 days ago

After the Failure Of Their Stablecoin Experiment, Iran And Russia Will Inevitably Adopt Bitcoin

With their newly-announced stablecoin experiment doomed to fail, Russia and Iran will soon learn Bitcoin is the solution that they want.
Source : Bitcoin Magazine
10 days ago

Announcing “Hunting Sats,” A Bitcoin Wallet Cracking Contest

Shadowy super coders and sat stacking anons from all over the internet are welcome to try and crack a wallet containing millions of sats.
Source : Bitcoin Magazine
10 days ago

In 2023, Bitcoiners Must Stop Shooting (Or Blocking) The Messengers

As the New Year begins, Bitcoiners should take this opportunity to engage with constructive criticism.
Source : Bitcoin Magazine
12 days ago

Crypto Lender Genesis Files For Chapter 11 Bankruptcy

The embattled crypto lender has filed a slew of voluntary bankruptcy notices in order to restructure itself.
Source : Bitcoin Magazine
12 days ago

Mississippi, Missouri Lawmakers Introduce Bills To Protect The Rights To Mine Bitcoin And Run A Node

Committees from both states will soon vote on bills that would provide a variety of protections for Bitcoin mining operations and node runners.
Source : Bitcoin Magazine
13 days ago

Mainstream Bitcoin Exchanges Have Obscured The Value Of Private, P2P Alternatives

Mainstream bitcoin exchanges which collect troves of user data have warped users’ expectations for privacy-preserving, peer-to-peer versions.
Source : Bitcoin Magazine
13 days ago

New Hampshire Commission Recommends Statewide Bitcoin Mining Energy Plan

A commission out of New Hampshire has found that the positive impacts of bitcoin mining on the electricity system are worthy of further consideration.
Source : Bitcoin Magazine
14 days ago

CleanSpark Breaks Ground On 50 Megawatt Bitcoin Mining Expansion

The mining firm will nearly double its existing infrastructure, adding up to 50 Megawatts to the 36 Megawatts already in use.
Source : Bitcoin Magazine
14 days ago

What Black Investors Can Teach You About Bitcoin

Many Black Americans have turned to bitcoin to find a new kind of financial success.
Source : Bitcoin Magazine
14 days ago

Bitcoin Price And Risk Assets Jump In Correlated Move

Bitcoin price correlates with high-beta stocks in the recent move upward. Global liquidity is increasing as financial conditions loosen.
Source : Bitcoin Magazine
14 days ago

Okcoin And Paradigm Announce New Grant Awarded To Bitcoin Core Maintainer Marco Falke

The new grant, in partnership with Paradigm, will bring Okcoin’s support of Bitcoin Core development to $1.5 million.
Source : Bitcoin Magazine
14 days ago

U.S. Department Of Justice Shuts Down Crypto Exchange Bitzlato, CEO Arrested

The DOJ has charged the exchange with facilitating more than $700 million in illicit transactions tied to Russia, money laundering and criminal activity.
Source : Bitcoin Magazine
15 days ago

ZEBEDEE And VIKER Launch Bitcoin Chess, Bitcoin Scratch Mobile Games

Mobile games studio VIKER and bitcoin payments processor ZEBEDEE have once again teamed up to launch two classic games.
Source : Bitcoin Magazine
15 days ago

Dear Normie, Don’t Buy Bitcoin

Too many people invest in bitcoin the asset without fully appreciating all of the value that Bitcoin the technology can provide.
Source : Bitcoin Magazine
15 days ago

Bitcoin Price Reaches $21,000, Shorts Demolished In Biggest Squeeze Since 2021

Bulls take charge with massive upward momentum. Key price levels to watch to determine whether this is another bear market rally or a move with lasting power.
Source : Bitcoin Magazine
16 days ago

Sazmining Launches Hydroelectric-Powered Mining Facility In Wisconsin

The site furthers the company’s goals of providing mining hosting services to a retail audience using sustainable power sources.
Source : Bitcoin Magazine
16 days ago

Bitcoin Is The Solution To The World’s Economic Inequality Problem

After a year of growing economic disparity and damage to Bitcoin’s mainstream reputation, education is the key to solving global inequality.
Source : Bitcoin Magazine
16 days ago

To Becomes Bitcoin’s Go-To Platform, Nostr Will Have To Solve Its Key Management Issues

As Bitcoiners turn to Nostr as a censorship-resistant communication platform, user key management problems will arise.
Source : Bitcoin Magazine
17 days ago

With Confident Ignorance Of Bitcoin, So-Called ‘Experts’ Sacrifice Their Credibility

Recent examples of so-called “experts” speaking confidently, yet incorrectly, about Bitcoin will come back to haunt them.
Source : Bitcoin Magazine
18 days ago

How I Introduced My Younger Sister To Bitcoin

For my sister’s eighteenth birthday, I gave her the gift of bitcoin and some lessons on becoming a sovereign individual.
Source : Wallet Invester
1592 days ago

Bitcoin $6692.560 – CryptoCurrency Trading Report – 24.09.2018 00:07

Hot news: These are the changes of the CryptoCurrency market in the last one hour.

Bitcoin is now leading the rank on the most popular digital currency in the trade market. It has an increase of 0.05% in its exchange rate from 6689.215 dollars now at 6692.560 dollars. Tether is next to the leading crypto Bit..

The post Bitcoin $6692.560 – CryptoCurrency Trading Report – 24.09.2018 00:07 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1592 days ago

Bitcoin $6687.450 – CryptoCurrency Trading Report – 24.09.2018 01:07

Hot news: Here we summon for you the changes of the market of CryptoCurrency from the last 60 minutes.

The number one cryptocurrency leader is Bitcoin, this data was fetched in the last hour. It has an decrease on its trade value to -0.2%, now at 6687.450 dollars from 6700.852. Tether is at the second positi..

The post Bitcoin $6687.450 – CryptoCurrency Trading Report – 24.09.2018 01:07 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1592 days ago

Bitcoin $6709.780 – CryptoCurrency Trading Report – 24.09.2018 02:07

Hot news: These changes have happened in the last hour.

Bitcoin was in the top position in the last hour, the exchange rate increases from 6689.711 dollars to 6709.780. This is a 0.3% recorded change. Bitcoin is followed by Tether, with a -0.07% tumble on its trade value in the last one hour, equivalent to 0..

The post Bitcoin $6709.780 – CryptoCurrency Trading Report – 24.09.2018 02:07 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1592 days ago

Bitcoin $6709.350 – CryptoCurrency Trading Report – 24.09.2018 03:07

Hot news: Here we summon for you the changes of the market of CryptoCurrency from the last 60 minutes.

Bitcoin was in the top position in the last hour, the exchange rate decreases from 6710.021 dollars to 6709.350. This is a -0.01% recorded change. Tether is at the second position next to Bitcoin, with a re..

The post Bitcoin $6709.350 – CryptoCurrency Trading Report – 24.09.2018 03:07 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1592 days ago

Bitcoin $6704.570 – CryptoCurrency Trading Report – 24.09.2018 04:07

Hot news: Now we show you the newest summary of 60 minutes.

Bitcoin is now leading the rank on the most popular digital currency in the trade market. It has an decrease of -0% in its exchange rate from 6704.570 dollars now at 6704.570 dollars. Bitcoin is seconded by Tether, in a 60 minutes time it has a drop..

The post Bitcoin $6704.570 – CryptoCurrency Trading Report – 24.09.2018 04:07 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1592 days ago

Bitcoin $6686.310 – CryptoCurrency Trading Report – 24.09.2018 05:07

Hot news: There were a lot of happenings in the last 60 minutes on the Crypto stock exchanges.

Bitcoin is listed as the most popular cryptocurrency in the market. In the last sixty minutes, it had an downswing of -0.19% on its trading price. This means from 6699.038 dollars now at 6686.310 dollars. Tether is..

The post Bitcoin $6686.310 – CryptoCurrency Trading Report – 24.09.2018 05:07 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1592 days ago

Bitcoin $6674.850 – CryptoCurrency Trading Report – 24.09.2018 06:07

Hot news: Here you can read the new CryptoCurrency report of the last 60 Minutes.

Bitcoin is leading the rank in the last hour as the most popular crypto currency in the trade market, with a recorded fall on its value of about -0.12% in the last hour with a current standing rate of 6674.850 dollars from 6682..

The post Bitcoin $6674.850 – CryptoCurrency Trading Report – 24.09.2018 06:07 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1592 days ago

Bitcoin $6640.360 – CryptoCurrency Trading Report – 24.09.2018 07:08

Hot news: Here we summon for you the changes of the market of CryptoCurrency from the last 60 minutes.

In the last hour, Bitcoin is leading the cryptocurrency rank. A fall in the exchange rate was seen from 6663.014 dollars to 6640.360 dollars a -0.34% change. Next to Bitcoin is Tether in the second position..

The post Bitcoin $6640.360 – CryptoCurrency Trading Report – 24.09.2018 07:08 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1592 days ago

Bitcoin $6668.000 – CryptoCurrency Trading Report – 24.09.2018 08:08

Hot news: The summaries of the last one hour are the followings:

Bitcoin is leading the rank on the most popular crypto-currency, it has an upsurge of 0.12% in its exchange rate, which means 6668.000 dollars from the 6660.008 dollars earlier. Tether is in the second position as Bitcoin leads the first spot. ..

The post Bitcoin $6668.000 – CryptoCurrency Trading Report – 24.09.2018 08:08 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1592 days ago

Bitcoin $6609.990 – CryptoCurrency Trading Report – 24.09.2018 09:08

Hot news: These changes have happened in the last hour.

In the last one hour Bitcoin is leading the record of among the most popular crypto-currency in the trading ecosystem, it has an decrease of -0.33% from its previous value from 6631.875 dollars now at 6609.990 dollars exchange rate. Next to Bitcoin is T..

The post Bitcoin $6609.990 – CryptoCurrency Trading Report – 24.09.2018 09:08 appeared first on CryptoCurrency Blog.

Source : CryptoNinjas
177 days ago

Crypto risk & intel platform Merkle Science extends its Series A to over $24M

Merkle Science, a predictive crypto risk and intelligence platform, today announced an extension of more than $19 million to its Series A funding round, this now brings the total raised to over $24 million. New investments will help accelerate the company’s growth and be used for expansion across the U.S. and Europe, as well as […]

The post Crypto risk & intel platform Merkle Science extends its Series A to over $24M appeared first on CryptoNinjas.

Source : CryptoNinjas
177 days ago

“Move-and-earn” app STEPN to utilize LINE Blockchain for the Japanese market

LINE, the Japanese corporation specializing in mobile technologies, announced today that LINE Xenesis and Find Satoshi recently concluded an MOU aiming to utilize LINE Blockchain in the localization of STEPN for the Japanese market. STEPN is a “move-and-earn” blockchain game that lets players earn crypto assets equivalent to the number of steps they’ve taken. Since […]

The post “Move-and-earn” app STEPN to utilize LINE Blockchain for the Japanese market appeared first on CryptoNinjas.

Source : CryptoNinjas
176 days ago

BitPay teams with Dosh to enable cashback rewards on crypto debit card

BitPay, the bitcoin and crypto payment processing platform, announced today that users of its BitPay Card will now be rewarded with automatic cashback rewards when swiping the card at thousands of retailers. Thanks to a new partnership with Dosh, when spending with the BitPay Card, users will see crypto cashback rewards add up directly in […]

The post BitPay teams with Dosh to enable cashback rewards on crypto debit card appeared first on CryptoNinjas.

Source : CryptoNinjas
176 days ago

Brazil payment app PicPay launches new crypto exchange service with Paxos technology

PicPay, a Brazil-based payment app, has announced will now allow its users to buy, sell and hold cryptocurrencies, in its first foray into the crypto market. Today, PicPay launches its cryptocurrency exchange service, which initially supports trading of Bitcoin and Ethereum, as well as USDP. The exchange is operated in partnership with Paxos, a blockchain […]

The post Brazil payment app PicPay launches new crypto exchange service with Paxos technology appeared first on CryptoNinjas.

Source : CryptoNinjas
175 days ago

New Serum powered DEX for Solana from Vybe Network launches

Today it was announced from the Serum community the launch of Vybe DEX, a data-driven trading interface powered by Serum’s central limit order book & matching engine, built by Vybe Network. Vybe Network is a data infrastructure solution that enables the Solana community to query, index, and share on-chain data to build web3 dApps and […]

The post New Serum powered DEX for Solana from Vybe Network launches appeared first on CryptoNinjas.

Source : CryptoNinjas
175 days ago

SynFutures plans to integrate with Router Protocol to improve multi-chain access

SynFutures, a decentralized derivatives exchange, announced today a new partnership with Router, a cross-chain protocol that enables fund transfer, asset swaps, and cross-chain applications. The projects will work together to expand their respective ecosystems and explore integration, taking a crucial step in SynFutures’ mission to become a multi-chain trading platform. Cross-chain, or blockchain interoperability, refers […]

The post SynFutures plans to integrate with Router Protocol to improve multi-chain access appeared first on CryptoNinjas.

Source : CryptoNinjas
175 days ago

Blocknative releases new tool to enable high-speed propagation of ETH transactions

Blocknative, a web3 infrastructure company, today launched the Transaction Distribution Network (TDN). This tool allows blockchain users to respond to pre-chain risks and opportunities faster than ever, ensuring each transaction has the best chance of getting into the next block. The result is better, more predictable outcomes when submitting or replacing transactions. TDN works by […]

The post Blocknative releases new tool to enable high-speed propagation of ETH transactions appeared first on CryptoNinjas.

Source : CryptoNinjas
174 days ago

Crypto exchange Kraken’s second reserves audit adds 5 new assets: USDT, USDC, XRP, ADA, and DOT

Kraken, the popular crypto exchange, has announced the results of its second 2022 Proof of Reserves audit, which has now been expanded beyond *BTC, and ETH* to include USDT, USDC, XRP, ADA*, and DOT.  *Indicates Proof of Reserves audit covered assets held both on Kraken’s spot exchange and Kraken’s staking platform. The addition of five […]

The post Crypto exchange Kraken’s second reserves audit adds 5 new assets: USDT, USDC, XRP, ADA, and DOT appeared first on CryptoNinjas.

Source : CryptoNinjas
98 days ago

Crypto services company Blockchain.com opens waitlist for new Visa debit card

Today, crypto services company Blockchain.com, announced the launch of its new Visa debit card. With the Blockchain.com Visa card, users can spend any crypto in their Blockchain.com Wallet without fees while earning 1% back in crypto on all purchases. Key Features: Works like a debit card – Pay from crypto or cash balances anywhere Visa […]

The post Crypto services company Blockchain.com opens waitlist for new Visa debit card appeared first on CryptoNinjas.

Source : CryptoNinjas
90 days ago

Crypto exchange company OKX secures registration in Bahamas, opens office in Nassau

OKX, one of the largest crypto exchanges by volume and a leading web3 platform, today announced its registration as a Digital Asset Business in The Bahamas under the newly adopted Digital Assets and Registered Exchanges (DARE) Act. The company has also formed a new subsidiary, OKX Bahamas, for which it appointed Dr. Jillian Bethel, a […]

The post Crypto exchange company OKX secures registration in Bahamas, opens office in Nassau appeared first on CryptoNinjas.

Source : CryptoNinjas
86 days ago

Solana-powered sports wagering platform BetDEX to launch ahead of World Cup

BetDEX Labs, the company behind BetDEX, a new sports betting exchange for peer-to-peer wagering, this week announced that the BetDEX Exchange will officially launch on the Solana mainnet on Thursday, November 17th, which coincides with the beginning of the 2022 World Cup. Just recently, BetDEX became one of the first licensed sports betting exchanges built […]

The post Solana-powered sports wagering platform BetDEX to launch ahead of World Cup appeared first on CryptoNinjas.

Source : CryptoNinjas
84 days ago

Pundi X’s on-chain payment app for merchants now called Cashier Pro, adds Tron

Pundi X, a blockchain payments startup, recently announced that its “On-chain payment” function within its XPOS crypto point-of-sale platform is now known as “Cashier Pro” and available for all merchants. Cashier Pro enables merchants to accept crypto payments from 3rd party blockchain wallet users across multiple blockchain networks, including Bitcoin Lightning Network, BNB Chain, Ethereum, and […]

The post Pundi X’s on-chain payment app for merchants now called Cashier Pro, adds Tron appeared first on CryptoNinjas.

Source : CryptoNinjas
84 days ago

HashKey Group receives approval to operate crypto exchange from Hong Kong SFC

Hash Blockchain Limited (HBL), a member of the HashKey Group (HashKey), a blockchain asset financial services group in Asia, announced today it has received approval from the Securities and Futures Commission of Hong Kong (SFC) to operate a virtual asset trading platform, under a Type 1 (dealing in securities) license and a Type 7 (automated […]

The post HashKey Group receives approval to operate crypto exchange from Hong Kong SFC appeared first on CryptoNinjas.

Source : CryptoNinjas
84 days ago

BlockFills launches end-to-end enterprise crypto trading technology stack

BlockFills, a company specializing in building trading and management solutions for cryptocurrency market participants, today announced the launch of Vision Crypto Cloud, a secure, full-service, end-to-end digital asset trading, order management, and risk management platform. The software-as-a-service (SaaS) platform enables institutions to quickly access the crypto ecosystem out of the box, without the multi-year timeline […]

The post BlockFills launches end-to-end enterprise crypto trading technology stack appeared first on CryptoNinjas.

Source : CryptoNinjas
79 days ago

Trust Wallet launches anticipated browser extension of its crypto management app

Trust Wallet, a self-custodial and multi-chain cryptocurrency wallet application, has announced the launch of its brand-new browser extension wallet. Supporting all EVM chains, as well as Solana, it is available now on browsers including Chrome, Brave, and Opera. The browser extension complements Trust Wallet’s mobile wallet, which is the world’s leading mobile crypto wallet with […]

The post Trust Wallet launches anticipated browser extension of its crypto management app appeared first on CryptoNinjas.

Source : CryptoNinjas
79 days ago

Biconomy releases new SDK for better crypto and blockchain development

Biconomy, a web3 development platform & toolkit that superpowers blockchain technology stacks, today announced it has launched a software development kit (SDK) to transform the way developers build easy-to-use decentralized applications (dApps). Since 2019, Biconomy has been engaged with the web3 infrastructure space by building easy-to-integrate, plug-and-play APIs for developers to scale their projects. The […]

The post Biconomy releases new SDK for better crypto and blockchain development appeared first on CryptoNinjas.

Source : CryptoNinjas
77 days ago

Crypto exchange Coinbase to support Easy Bank Transfers for UK users

Coinbase, the popular bitcoin & crypto exchange company, announced today it will be rolling out ‘Easy Bank Transfers’ for UK users. The new feature delivers an easy way to add funds to Coinbase accounts. Through a partnership with TrueLayer, one of Europe’s leading open banking platforms, Coinbase is able to support Easy Bank Transfers, which […]

The post Crypto exchange Coinbase to support Easy Bank Transfers for UK users appeared first on CryptoNinjas.

Source : CryptoNinjas
58 days ago

DFINITY brings new smart contract functionality to Bitcoin with Internet Computer integration

DFINITY Foundation, the not-for-profit organization contributing to the development of the Internet Computer (IC) — a high-speed, internet-scale public blockchain — has announced today the Internet Computer’s mainnet integration with Bitcoin, bringing smart contract functionality to the cryptocurrency. Now, the Internet Computer can serve as a layer-2 for Bitcoin where smart contracts on the Internet […]

The post DFINITY brings new smart contract functionality to Bitcoin with Internet Computer integration appeared first on CryptoNinjas.

Source : CryptoNinjas
56 days ago

Tenderly introduces TXN simulations on its blockchain gateway for efficient dApp development

Tenderly, creators of a blockchain development platform, today announced that it is the first web3 development platform to offer simulations through RPC on its Tenderly Web3 Gateway, the company’s production node as a service. Note, Tenderly already processes more than 50 million simulations per month through its Transaction Simulator. Now, the company is introducing the […]

The post Tenderly introduces TXN simulations on its blockchain gateway for efficient dApp development appeared first on CryptoNinjas.

Source : CryptoNinjas
51 days ago

Crypto derivatives exchange Deribit releases new client verification of assets tool

Deribit, the popular cryptocurrency derivatives exchange, announced today it has launched a new ‘Proof of Reserves‘ tool for clients using the trading platform. Now, clients are provided with the functionality to verify their assets to be included in Deribit’s overall reserves. How it Works Deribit provides all addresses for all on-chain assets and it delivers […]

The post Crypto derivatives exchange Deribit releases new client verification of assets tool appeared first on CryptoNinjas.

Source : CryptoNinjas
44 days ago

DeFi protocol Pods raises $5.6M to support its structured crypto products dApp

Pods, creators of a DeFi platform, announced today that earlier this year, the team raised $5.6M in seed funding to create structured products for crypto-assets. The financing featured investors such as IOSG, Tomahawk, Republic, Framework Ventures, and more. The first strategy on Pods Yield is stETHvv (Ethereum Volatility Vault). stETHvv is a low-risk product focused […]

The post DeFi protocol Pods raises $5.6M to support its structured crypto products dApp appeared first on CryptoNinjas.

Source : CryptoNinjas
28 days ago

Blockchain ecosystem ThunderCore teams with Huobi and MyCointainer in node expansion

ThunderCore, a leading blockchain & web3 ecosystem announced today that they are making a new development push, partnering with new validators as the chain rolls out its new crypto staking model. The newest ThunderCore validators include the famous crypto-asset exchange Huobi and one of the earliest staking platforms in the space, MyCointainer. Users of both […]

The post Blockchain ecosystem ThunderCore teams with Huobi and MyCointainer in node expansion appeared first on CryptoNinjas.

Source : CryptoNinjas
18 days ago

Crypto securitization platform GenTwo links to all Coinbase assets

GenTwo Digital, the crypto-asset securitization platform based out of Crypto Valley in Zug, Switzerland, today announced a partnership with Coinbase, the publicly-listed cryptocurrency platform. This new partnership for GenTwo Digital allows all Coinbase crypto assets to be wrapped in bankable financial investment products and enables financial intermediaries to issue certificates such AMCs (Actively Management Certificates). […]

The post Crypto securitization platform GenTwo links to all Coinbase assets appeared first on CryptoNinjas.

Source : CryptoNinjas
14 days ago

Crypto exchange Gemini launches new electronic OTC trading solution

Gemini, the popular bitcoin & crypto exchange company, today announced the launch of electronic over-the-counter trading (eOTC), an automated crypto trading solution designed for institutions. The Gemini eOTC solution offers a variety of advantages to institutional traders including: Competitive Pricing & Execution: Liquidity is sourced from top-tier liquidity providers with deep liquidity pools, enabling counterparties […]

The post Crypto exchange Gemini launches new electronic OTC trading solution appeared first on CryptoNinjas.

Source : CryptoNinjas
9 days ago

Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

Eventus, a provider of multi-asset class trade surveillance and market risk solutions, announced today that cryptocurrency derivatives exchange Deribit has chosen the firm’s Validus platform to provide market abuse monitoring on the exchange. Headquartered in Panama City, Panama, Deribit is one of the largest cryptocurrency options exchanges by volume and open interest, with approximately 90% […]

The post Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus appeared first on CryptoNinjas.

Source : Cointelegraph
1 days ago

Tiffany Fong flames Celsius, FTX and NY Post: Hall of Flame

Tiffany Fong stumbled into content creation and independent journalism after getting burned on the Celsius bankruptcy, moving forward she has no idea where this will lead.

Source : Cointelegraph
1 days ago

Bitcoin awaits Fed Powell speech as sellers cement $23.5K resistance

Bitcoin trades sideways at the Wall Street open as all eyes are on the Fed and Chair Jerome Powell.

Source : Cointelegraph
1 days ago

Bitcoin advocate Najah Roberts explains why BTC is a tool for empowerment

The Agenda podcast explores the concept of financial sovereignty, Black American empowerment and the promise of Bitcoin with the revolutionary Najah Roberts.

Source : Cointelegraph
1 days ago

Web3 could seize on the decades-old software-as-a-service business model

Web3 needs to set off toward new horizons to continue disrupting traditional industries, and B2B SaaS can enable that.

Source : Cointelegraph
1 days ago

Federal judge bars SBF from contacting FTX and Alameda employees via Signal

Sam Bankman-Fried could also be barred from accessing FTX and Alameda funds as part of his bail conditions, with a judge scheduled to discuss the matter in a Feb. 7 hearing.

Source : Cointelegraph
1 days ago

MakerDAO launches $5M legal defense fund

At its inception, the defense fund will receive a budget of $5 million held in the DAI stablecoin.

Source : Cointelegraph
1 days ago

Why is the crypto market down today?

The crypto market is down today as Bitcoin and stocks correct and investors await Powell’s comments on the size of the next interest rate hike and the health of the US economy.

Source : Cointelegraph
Added today

Price analysis 2/1: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, AVAX

Crypto traders are waiting for the result of today’s FOMC and it’s possible that the recent downside could reverse course if Jerome Powell’s statements hint at an improving U.S. economy.

Source : Cointelegraph
Added today

Meta gets court win in metaverse acquisition plans: Report

If the Federal Trade Commission doesn’t appeal the ruling, Meta will likely be able to acquire additional companies offering metaverse-related products or services.

Source : Cointelegraph
Added today

Retail giant Pick n Pay to accept Bitcoin in 1,628 stores across South Africa

Grocery retailer Pick n Pay is now accepting Bitcoin payments via the Lightning Network nationwide following a three-month testing phase.

Source : Cointelegraph
Added today

What is Solend and how does it work

Solend is a DeFi lending and borrowing protocol on Solana, noted for its high scalability and composability.

Source : Cointelegraph
Added today

US Treasury lists BTC, ETH addresses tied to Russian sanctions evasion group

The government department said it would impose “full blocking sanctions” on Jonatan Zimenkov and his crypto addresses due to his connections with a sanctions evasion network.

Source : Cointelegraph
Added today

Bitcoin bulls plan to flip $23K to support by aiming to win this week’s $1B options expiry

BTC bulls are positioned to win this week’s $1 billion options expiry, but the market’s post-FOMC reaction could alter their plans.

Source : Cointelegraph
Added today

New FTX documentary to spotlight SBF-CZ relationship

The documentary will examine the dynamic relationship between Sam Bankman-Fried and Binance founder Changpeng Zhao.

Source : Cointelegraph
Added today

Judge dismisses proposed class-action suit alleging Coinbase securities sales

The decision did not address the question of whether the 79 tokens in questions were securities, but dismissed claims based on the Securities and Exchange Acts.

Source : Cointelegraph
Added today

Ethereum's Shanghai fork is coming — but it doesn't mean investors should dump ETH

Ethereum’s Shanghai upgrade is tentatively set for March, which means approximately 14% of ETH supply will unlock in the year ahead.

Source : Cointelegraph
Added today

BonqDAO protocol suffers $120M loss after oracle hack

An oracle hack allowed the exploiter to manipulate the price of the AllianceBlock token, leading to an estimated $120 million loss, according to Peckshield.

Source : Cointelegraph
Added today

Bitcoin spikes above $24K as Fed chair Powell talks of ‘disinflation’

While the rate increase was expected by the markets and Jerome Powell indicated more increases will come, the market has reacted positively to the Fed chairman’s comments.

Source : Cointelegraph
Added today

Meta CEO Zuckerberg steadfast on metaverse plans despite $13.7B setback

During a Q4 earnings call, Mark Zuckerberg said he saw no reason to deviate from the company’s long-term metaverse strategy.

Source : Cointelegraph
Added today

72% of institutional traders are crypto-skeptical this year: JPMorgan

Of 835 institutional traders surveyed by JPMorgan, only 14% said they would either keep trading crypto in 2023 or had plans to do so this year.

Source : Cointelegraph
Added today

Bithumb owner arrested in South Korea over alleged embezzlement

The net is closing in on Bithumb executives as the suspected real owner of the exchange is arrested.

Source : Cointelegraph
Added today

Regulatory action against Mango Markets exploiter is a win for DeFi — Moody’s

The SEC and CFTC taking action against the alleged fraudster shows that decentralized finance is becoming a “safer and more welcoming environment,” according to credit rating firm Moody’s.

Source : Cointelegraph
Added today

Bitcoin Ordinals creator looks for fix after first instance of shock porn

A rather unsavory image made it to the front page of the Ordinals website for 30 minutes before it was hidden, however, the image itself is immutable.

Source : Cointelegraph
Added today

Voyager victim calls for trustee to seize control of the estate

The 120-page motion came from a creditor who asked for the appointment of a Chapter 11 trustee, citing alleged fraud and incompetence at Voyager.

Source : Cointelegraph
Added today

Bitcoin bulls must reclaim these 2 levels as ‘death cross’ still looms

BTC price upside depends on whether two long-lost moving averages can be flipped to support, Bitcoin analysis predicts.

Source : Cointelegraph
Added today

State of play: Decentralized domain services reflect on industry progress

Major decentralized domain services weigh in on the state of the industry and the potential for future growth.

Source : Cointelegraph
Added today

Bitcoin paints Nasdaq green as NCI index marks 38% gain in January

The bullish rise of Bitcoin and other altcoins in January helped the Nasdaq Crypto Index to register its third-highest monthly gain.

Source : Cointelegraph
Added today

HSBC needs someone to helm its tokenization efforts

According to a job posting, HSBC is looking for a candidate who knows of digital assets, especially asset tokenization and custody.

Source : Cointelegraph
Added today

Bank of China ex-advisor calls Beijing to reconsider crypto ban

The economist argued that the current crypto ban in China is beneficial in the short term, but big opportunities can be missed in the long run.

Source : Cointelegraph
Added today

Indian retail chain rolls out support for CBDC payments in stores: Report

Reliance Retail has implemented support for the digital rupee in its gourmet store line Freshpik.

Source : Bit Coin News
1 days ago

60 Organizations Launch Campaign Urging US Congress to Protect Privacy

On Wednesday, 60 organizations involved in cryptocurrencies, open-source and free software, and human rights and privacy-preserving projects launched a new campaign calling on the 118th U.S. Congress to protect privacy. The groups, including Fight for the Future, Electric Coin Co., and the Tor Project, insist that Congress needs to deliver policies dedicated to standing up […]
Source : Bit Coin News
1 days ago

Biggest Movers: LTC Races to 9-Month High, ATOM Extends Recent Gains

Litecoin raced to a nine-month high on Feb. 1, following a breakout of a key resistance level. The surge in price comes as the global cryptocurrency market cap rose marginally higher today, and is up by 0.57% as of writing. Cosmos was another notable mover, with prices up for a second straight session. Litecoin (LTC) […]
Source : Bit Coin News
Added today

Following APT’s 400% Rise Since Late December, Aptos Drops 20% From All-Time High 

On Jan. 26, 2023, the cryptocurrency asset aptos (APT) reached an all-time high and then lost 20% of its value over the next five days. In the past 24 hours, it also shed 8.3% against the U.S. dollar. Despite the decline from its all-time high, APT is still up 349% compared to last month’s exchange […]
Source : Bit Coin News
Added today

Federal Reserve Raises Benchmark Interest Rate by 0.25%, Disinflationary Process ‘Early,’ Says Powell 

Federal Reserve Raises Benchmark Interest Rate by 0.25%, Disinflationary Process 'Early,' Says Powell The U.S. Federal Reserve raised its benchmark federal funds rate by 0.25% on Wednesday after markets priced in near 100% certainty the Federal Open Market Committee (FOMC) would codify the quarter-point increase. The FOMC statement further detailed that ongoing rate increases are anticipated to bring inflation down to the target range of 2%. FOMC Outlines […]
Source : Bit Coin News
Added today

Britain Announces Plans for ‘Robust’ Crypto Rules, Launches Consultation

Britain Drafts ‘Robust’ Crypto Rules While Most Firms Don’t Meet AML StandardsThe U.K. has unveiled “ambitious plans” to “robustly regulate” various crypto activities, while seeking to protect customers and grow its economy. In the next three months, British authorities will accept public feedback on the new regulatory proposals designed to govern digital assets like traditional finance. British Government Sets Out to Regulate Crypto Market, Remains Committed […]
Source : Bit Coin News
Added today

London Crowned World’s Leading Cryptocurrency Hub, According to Study

According to research from Recap, a cryptocurrency tax software company, London has become the world’s leading hub for cryptocurrencies. The researchers analyzed eight indicators, including the number of cryptocurrency businesses and the quantity of cryptocurrency ATMs in each country. Key Findings of Recap’s Study on Global Cryptocurrency Hubs Crypto tax firm Recap released a research […]
Source : Bit Coin News
Added today

NFT Sales Soar: January 2023 Reaches Nearly $1 Billion in 30 Days With 41% Increase

NFT Sales Soar: January 2023 Reaches Nearly $1 Billion in 30 Days With 41% IncreaseNon-fungible token (NFT) sales increased 41.96% from the previous month, according to data recorded on Feb. 1, 2023. NFT sales reached nearly $1 billion in 30 days, with an approximate total of $997.53 million. Additionally, the number of digital collectible transactions rose more than 22% in the past month. Bored Ape Yacht Club Dominates, Ethereum […]
Source : Bit Coin News
Added today

Indian Government Introduces New Crypto Tax Penalties

Indian Government Introduces New Crypto Tax PenaltiesThe Indian government has introduced new crypto tax penalties, including for non-payment of crypto tax deducted at source (TDS). Much to the disappointment of the crypto community, Finance Minister Nirmala Sitharaman did not mention crypto in her Budget speech this year. Crypto income remains taxed at 30% while TDS stays at 1%. No Crypto Tax […]
Source : Bit Coin News
Added today

Chinese Economist Urges Government to Reconsider Crypto Ban — Warns of Missed Tech Opportunities

Chinese Economist Urges Government to Reconsider Crypto Ban — Warns of Missed Tech OpportunitiesAn economics professor and former adviser to the People’s Bank of China has urged the Chinese government to reconsider its ban on cryptocurrencies. He warned that banning crypto activities could result in missed opportunities that are “very valuable” to regulated financial systems. Chinese Economist Warns of Missed Opportunities Due to Crypto Ban A former adviser […]
Source : Bit Coin News
Added today

Nigerian Crypto Users and Enthusiasts Dismiss 100% BTC Premium Claims

Nigerian blockchain and crypto enthusiasts have said recent reports suggesting that local residents are paying a premium of almost 100% on top of the prevailing price of bitcoin “are totally false.” They argue that such reports are based on a claim that is being propagated by persons who do not fully grasp the dynamics in […]
Source : Bitcoin Magazine
Added today

Nostr Will Only Scale If It Can Incentivize Users To Run Relays

Nostr, a growing hub for the Bitcoin community, faces some incentives challenges if it’s going to reach significant scale.
Source : Bitcoin Magazine
Added today

LevelField Financial To Become First FDIC-Insured Bank to Offer Traditional Banking And Bitcoin Services

LevelField Financial is set to acquire Burling Bank in a move that would enable access to bitcoin for traditional banking customers.
Source : Bitcoin Magazine
Added today

U.K. Details Plan To Regulate Bitcoin, Cryptocurrency Industry

The United Kingdom has released its first consultation on crypto trading and lending regulation within the country.
Source : Bitcoin Magazine
1 days ago

South African Retail Giant Pick-n-Pay Now Accepts Bitcoin Payments At All Locations

Pick n Pay has partnered with CryptoQR in order to accept bitcoin at more than 2,000 stores.
Source : Bitcoin Magazine
1 days ago

Luxor Technologies Launches The First Bitcoin Mining ASIC Request-for-Quote Platform

Luxor has launched the first ever ASIC RFQ platform with the goal of maximized market transparency and access.
Source : Bitcoin Magazine
1 days ago

Can Artificial Intelligence Make The Bitcoin Rabbit Hole Easier To Explore?

As artificial intelligence tools become more powerful and accessible, can they help more people get a grasp on Bitcoin?
Source : Bitcoin Magazine
1 days ago

Decentralized ‘Twitter Killer’ Nostr Goes Live On Apple’s App Store

Nostr, an open protocol that promises to substitute centrally-controlled social networks such as Twitter, is now live on the Apple App Store with Damus.
Source : Bitcoin Magazine
1 days ago

No Policy Pivot In Sight: “Higher For Longer” Rates On The Horizon

The market is nearly unanimous in expecting a 0.25% rate hike during February's FOMC meeting, yet many expect a “pause” shortly thereafter. We beg to differ.
Source : Bitcoin Magazine
1 days ago

Ordinals Project Launches Enabling NFTs Directly On Bitcoin

The controversial project has been met with equal parts excitement and criticism in regards to its impacts on Bitcoin.
Source : Bitcoin Magazine
2 days ago

Fiat Ruins Work But Bitcoin Rewards Those Who Add Value

How have Big Tech companies laid off so many with no consequences to their operations? Because fiat incentivizes meaningless rent seeking.
Source : Bitcoin Magazine
2 days ago

Strike Launches Instant, Cheap Remittances For The Philippines Using Bitcoin Lightning

U.S. users of Strike can now use Send Globally to send instant, cheap remittances to loved ones in the Philippines.
Source : Bitcoin Magazine
2 days ago

ZEBEDEE And Stattrak Launch New Esports Fantasy Product With Bitcoin Rewards

Stattrak and ZEBEDEE have launched a new fantasy esports platform with real-money rewards in bitcoin for popular games.
Source : Bitcoin Magazine
2 days ago

The Four Worst Ways To Attack Bitcoin

In his latest book, Nouriel Roubini demonstrates the worst ways to try and attack Bitcoin.
Source : Bitcoin Magazine
2 days ago

Twitter Prepping For Payments, Could Include Bitcoin And Crypto: FT

Elon Musk’s Twitter is preparing to add payments functionality that could potentially include cryptocurrency, inside sources told the Financial Times.
Source : Bitcoin Magazine
2 days ago

Mastercard And Binance To Offer Bitcoin, Crypto Card In Brazil

The new bitcoin and crypto-backed prepaid Binance Card is coming to Brazil, one of the exchange’s largest markets.
Source : Bitcoin Magazine
3 days ago

A Presidential Visit To Madeira: Is This Island The Next Bitcoin Paradise?

On a visit to the Portuguese island of Madeira, a delegation of Bitcoiners surfed, met with the president and extended Bitcoin adoption.
Source : Bitcoin Magazine
5 days ago

Bitcoin Sellers Exhausted, Accumulators HODL The Line

Bitcoin supply-side dynamics and on-chain indicators look to be as strong as ever, but macroeconomic headwinds remain for legacy and risk assets.
Source : Bitcoin Magazine
6 days ago

Biden Administration Releases Roadmap To Mitigate Cryptocurrency Risks

The White House has unveiled a roadmap to reduce risks associated with the wider cryptocurrency industry.
Source : Bitcoin Magazine
6 days ago

Senator Ted Cruz Is Bringing Bitcoin To The Capitol With Vending Machines

The Texas Senator has introduced a resolution requesting Capitol vendors to accept bitcoin.
Source : Bitcoin Magazine
6 days ago

The Five Lessons I Learned From Ignoring Bitcoin For Years

Lessons from a HODLer fortunate enough to find Bitcoin after passing on the opportunity repeatedly since 2012.
Source : Bitcoin Magazine
6 days ago

POS Giant Clover Teams Up With Strike To Bring Bitcoin’s Lightning Network To Millions Of Merchants

A 90-day trial period kicks off Clover’s integration with the Bitcoin Lightning Network, enabling faster, cheaper payments at merchants.
Source : Bitcoin Magazine
6 days ago

BitPay Announces Partnership With MoonPay, Removes Bitcoin Trading Fees For Limited Time

BitPay’s partnership with MoonPay is set to offer a superior buyer experience for those looking to purchase cryptocurrencies on the BitPay platform.
Source : Bitcoin Magazine
7 days ago

Fiat Debases Belief, But Bitcoin Makes Us Human

Enslaving us with debt and inflation, the fiat system replaces sincerely-held beliefs. But Bitcoin gives us the chance to be human again.
Source : Bitcoin Magazine
7 days ago

Mt Pelerin Crypto Exchange Adds Support For Bitcoin Lightning Network

The Swiss cryptocurrency exchange will now allow deposits and withdrawals through the Lightning Network.
Source : Bitcoin Magazine
8 days ago

Arizona Senator Introduces Bill To Make Bitcoin Legal Tender In The State

A bill introduced by Sen. Wendy Rogers reflects growing interest in bitcoin from U.S. states.
Source : Bitcoin Magazine
8 days ago

Swiss Bitcoin App Relai Now Allows Companies To Buy Bitcoin

The new Relai Business over-the-counter service will allow businesses to purchase bitcoin quickly.
Source : Bitcoin Magazine
8 days ago

The Kazakhstan Mining Exodus Has Flipped Bitcoin To Clean-Energy Dominance

After Kazakhstan forced out Bitcoin mining operations, the majority of global hash rate is now produced with clean energy.
Source : Bitcoin Magazine
8 days ago

Blockstream Raises $125 Million For Bitcoin Mining Expansion

Led by Kingsway Capital, Blockstream has raised $125 million for the purpose of expanding their institutional mining services.
Source : Bitcoin Magazine
9 days ago

EU Lawmakers Vote To Impose Strict Capital Requirements On Banks Holding Bitcoin And Crypto

Banks would be allowed to hold 2% of capital in bitcoin, but required to have one euro in capital for every euro in cryptocurrency held.
Source : Bitcoin Magazine
9 days ago

World’s Largest Bitcoin ATM Software Platform Acquired By Bitstop Founders

Andrew Barnard and Doug Carrillo of Bitstop have announced the acquisition of Genesis Coin Inc.
Source : Bitcoin Magazine
9 days ago

After the Failure Of Their Stablecoin Experiment, Iran And Russia Will Inevitably Adopt Bitcoin

With their newly-announced stablecoin experiment doomed to fail, Russia and Iran will soon learn Bitcoin is the solution that they want.
Source : Bitcoin Magazine
10 days ago

Announcing “Hunting Sats,” A Bitcoin Wallet Cracking Contest

Shadowy super coders and sat stacking anons from all over the internet are welcome to try and crack a wallet containing millions of sats.
Source : Bitcoin Magazine
10 days ago

In 2023, Bitcoiners Must Stop Shooting (Or Blocking) The Messengers

As the New Year begins, Bitcoiners should take this opportunity to engage with constructive criticism.
Source : Bitcoin Magazine
12 days ago

Crypto Lender Genesis Files For Chapter 11 Bankruptcy

The embattled crypto lender has filed a slew of voluntary bankruptcy notices in order to restructure itself.
Source : Bitcoin Magazine
12 days ago

Mississippi, Missouri Lawmakers Introduce Bills To Protect The Rights To Mine Bitcoin And Run A Node

Committees from both states will soon vote on bills that would provide a variety of protections for Bitcoin mining operations and node runners.
Source : Bitcoin Magazine
13 days ago

Mainstream Bitcoin Exchanges Have Obscured The Value Of Private, P2P Alternatives

Mainstream bitcoin exchanges which collect troves of user data have warped users’ expectations for privacy-preserving, peer-to-peer versions.
Source : Bitcoin Magazine
13 days ago

New Hampshire Commission Recommends Statewide Bitcoin Mining Energy Plan

A commission out of New Hampshire has found that the positive impacts of bitcoin mining on the electricity system are worthy of further consideration.
Source : Bitcoin Magazine
14 days ago

CleanSpark Breaks Ground On 50 Megawatt Bitcoin Mining Expansion

The mining firm will nearly double its existing infrastructure, adding up to 50 Megawatts to the 36 Megawatts already in use.
Source : Bitcoin Magazine
14 days ago

What Black Investors Can Teach You About Bitcoin

Many Black Americans have turned to bitcoin to find a new kind of financial success.
Source : Bitcoin Magazine
14 days ago

Bitcoin Price And Risk Assets Jump In Correlated Move

Bitcoin price correlates with high-beta stocks in the recent move upward. Global liquidity is increasing as financial conditions loosen.
Source : Bitcoin Magazine
14 days ago

Okcoin And Paradigm Announce New Grant Awarded To Bitcoin Core Maintainer Marco Falke

The new grant, in partnership with Paradigm, will bring Okcoin’s support of Bitcoin Core development to $1.5 million.
Source : Bitcoin Magazine
14 days ago

U.S. Department Of Justice Shuts Down Crypto Exchange Bitzlato, CEO Arrested

The DOJ has charged the exchange with facilitating more than $700 million in illicit transactions tied to Russia, money laundering and criminal activity.
Source : Bitcoin Magazine
15 days ago

ZEBEDEE And VIKER Launch Bitcoin Chess, Bitcoin Scratch Mobile Games

Mobile games studio VIKER and bitcoin payments processor ZEBEDEE have once again teamed up to launch two classic games.
Source : Bitcoin Magazine
15 days ago

Dear Normie, Don’t Buy Bitcoin

Too many people invest in bitcoin the asset without fully appreciating all of the value that Bitcoin the technology can provide.
Source : Bitcoin Magazine
15 days ago

Bitcoin Price Reaches $21,000, Shorts Demolished In Biggest Squeeze Since 2021

Bulls take charge with massive upward momentum. Key price levels to watch to determine whether this is another bear market rally or a move with lasting power.
Source : Bitcoin Magazine
16 days ago

Sazmining Launches Hydroelectric-Powered Mining Facility In Wisconsin

The site furthers the company’s goals of providing mining hosting services to a retail audience using sustainable power sources.
Source : Bitcoin Magazine
16 days ago

Bitcoin Is The Solution To The World’s Economic Inequality Problem

After a year of growing economic disparity and damage to Bitcoin’s mainstream reputation, education is the key to solving global inequality.
Source : Bitcoin Magazine
16 days ago

To Becomes Bitcoin’s Go-To Platform, Nostr Will Have To Solve Its Key Management Issues

As Bitcoiners turn to Nostr as a censorship-resistant communication platform, user key management problems will arise.
Source : Bitcoin Magazine
17 days ago

With Confident Ignorance Of Bitcoin, So-Called ‘Experts’ Sacrifice Their Credibility

Recent examples of so-called “experts” speaking confidently, yet incorrectly, about Bitcoin will come back to haunt them.
Source : Bitcoin Magazine
18 days ago

How I Introduced My Younger Sister To Bitcoin

For my sister’s eighteenth birthday, I gave her the gift of bitcoin and some lessons on becoming a sovereign individual.
Source : Finance Magnates
9 days ago

Bitfinex Offers Crypto Cards-as-a-Service Product from Tap Global

<p>Bitfinex, one of the leading crypto exchanges, has become the first client for Tap Global and its newest Cards-as-a-Service (CaaS) platform. With the latest B2B product, companies can offer their clients prepaid debit cards to enhance their offerings.</p><p>Tap Global Partners with Bitfinex</p><p>According to Tuesday's press release, Tap Global is a publicly listed (AQSE:TAP) provider of a crypto app connecting the world of <a href="https://www.financemagnates.com/terms/b/blockchain/" class="terms__main-term" id="be18ed01-45fc-4044-b447-06802a10dbcd" target="_blank">blockchain</a> technology and traditional finance. The CaaS platform, based on a partnership with Mastercard, is the company's latest product, and Bitfinex customers will be the first to take advantage of its capabilities.</p><p>"We are excited to add this B2B Product to Tap's offering and look forward to supporting innovative businesses such as Bitfinex in providing their clients with financial flexibility to seamlessly convert and spend cryptocurrency assets without hindrance from the traditional banking system," David Carr, the Chief Executive Officer of Tap, said.</p><p>As a first step, the card will be available to European Bitfinex customers. Using Tap's infrastructure and regulatory approvals, the customers will be able to exchange cryptocurrencies for euros and transfer them to the prepaid card.</p><p>The product will carry the Bitinex branding, but Tap provides all related services. The company will also charge monthly fees associated with using the card.</p><p>"Tap is not a simple 'buy crypto' app, focused solely on individual users. It is our ambition to be one of the world's leading FinTech companies, and this product is an example of our significant and growing business-focused offering," Carr added.</p><p>Bitfinex Starts a New Partnership and Expands Global Presence</p><p>Bitfinex recently announced <a href="https://www.financemagnates.com/cryptocurrency/news/bitfinex-enables-instant-euro-payments-with-openpayd-partnership/" target="_blank" rel="follow">enabling real-time Single Euro Payments Area (SEPA) payments</a> on the platform with its latest partnership with the fiat on-ramp services provider, OpenPayd. SEPA allows instant euro-denominated deposits and withdrawals.</p><p>"This collaboration forms part of our continued efforts to provide a premium customer service experience to our growing user base," Bitfinex's CTO, Paolo Ardoino, commented.</p><p>In the meantime, the company announced the expansion of its presence in the digital assets industry through <a href="https://www.financemagnates.com/cryptocurrency/news/bitfinex-securities-expands-global-presence-launches-new-product-in-kazakhstan/" target="_blank" rel="follow">the launch of a new trading product in Kazakhstan</a>. Dubbed Blockstream Mining Note (BMN), it allows investors to expand their exposure to the Bitcoin mining industry. BMN aims to increase efficiency and reduce cost by packaging mining operations in a tradable crypto token.</p><p>Watch the recent FMLS22 panel on forex and crypto industry trends in 2023.</p><p>Bitfinex Is One of the Oldest Companies in the Industry</p><p>The cryptocurrency <a href="https://www.financemagnates.com/terms/e/exchange/" class="terms__secondary-term" id="b5da6e64-2afe-421d-9b81-16404b7d59d6" target="_blank">exchange</a> Bitfinex has been present in the market for more than 11 years, since 2012. During this time, it had to deal with a high-profile hacking attack back in 2016. The funds still remain for the most part unrecovered. However, by February 2022, the enforcement bodies <a href="https://www.financemagnates.com/cryptocurrency/36b-btc-seizure-from-bitfinex-hack-good-or-bad-for-the-industry/" target="_blank" rel="follow">successfully recovered $3.6 billion of the stolen funds.</a></p><p>Despite such a severe security breach, the exchange has managed to maintain consumer confidence and stay true to its values. According to the exchange's representatives, these are the main reasons why Bitfinex is still one of the most popular cryptocurrency platforms in the world.</p><p>"In our industry, Bitfinex is one of the oldest companies and one of the largest by exchange-traded volume, but we are also one of the smallest by headcount, and we have a very strong culture underpinned by our values," <a href="https://www.financemagnates.com/cryptocurrency/bitfinex-defends-crypto-depsite-industrys-multiple-crises-in-2022/" target="_blank" rel="follow">the company said</a>.</p> This article was written by Damian Chmiel at www.financemagnates.com.
Source : Finance Magnates
8 days ago

Binance Stored Users' Fund with B-Tokens Collateral by ‘Mistake’: Report

<p>Binance, the world’s biggest cryptocurrency exchange by trading volume, admitted to storing customers’ funds and the collateral of some of the tokens it issues by "mistake." </p><p>According to Bloomberg, Binance issued 94 Binance-peg tokens, also called ‘B-Tokens’. However, almost half of the reserves of these tokens are kept together with customers’ funds in a cold wallet called "Binance 8," the outlet said. Currently, the wallet’s tokens' reserve outnumbers the volume of B-Tokens the leading crypto exchange has issued, Bloomberg added. </p><p>Furthermore, the outlet said its calculation shows that over $539 million in B-Tokens have been affected as a result of this action. However, a spokesperson who spoke to the news platform assured the public that users' funds are backed 1:1 and added that the exchange is taking steps to rectify the situation.</p><p>Watch the recent FMLS22 on reimagining the crypto structure.</p><p>CEXs Battle User Confidence Post FTX</p><p>The new development at Binance comes as centralized exchanges (CEXs) face greater scrutiny following the collapse in November of Bahamas-based <a href="https://www.financemagnates.com/terms/c/cryptocurrency-exchange/" class="terms__secondary-term" id="601e2e5f-0c28-4253-9ad4-5e6b251ba2fa" target="_blank">cryptocurrency exchange</a>, FTX, which allegedly released customers' funds to its sister trading firm, Alameda Research. FTX is still undergoing bankruptcy proceedings in the United States.</p><p>Over a month ago, the global financial auditor Mazars in a report noted that Binance's reserves for Bitcoin was over-collaterized, standing at 101%, as against the regular 100% or 1:1 asset-to-reserve ratio. Binance first <a href="https://www.financemagnates.com/cryptocurrency/binance-launches-proof-of-reserves-for-btc/" target="_blank" rel="follow">launched</a> its proof-of-reserves (PoR) for BTC in November last year.</p><p>Away from Binance, in a bid to assure their users of their financial health, other cryptocurrency exchanges have announced PoRs for their digital asset holdings. Last week, Seychelles-based crypto exchange OKX released its PoR which shows that the platform is <a href="https://www.financemagnates.com/cryptocurrency/okx-releases-proof-of-reserves-shows-75-billion-in-btc-eth-and-usdt/" target="_blank" rel="follow">also over-collaterized</a>, with about $7.5 billion in digital asset holdings.</p><p>Finance Magnates reports that while OKX’s users hold a total of 117,682 BTC, 1,178,993 ETH and 2,955,696,824 USDT, the crypto exchange’s reserve ratio stood at 105% for the first two digital assets and 101% for the <a href="https://www.financemagnates.com/terms/s/stablecoin/" class="terms__main-term" id="e84b040e-4d12-499b-99bf-8ba75ea058ca" target="_blank">stablecoin</a>. </p><p>Meanwhile, Singapore-based <a href="https://www.financemagnates.com/cryptocurrency/cryptocom-releases-audited-proof-of-reserves/" target="_blank" rel="follow">Crypto.com</a> and another crypto exchange <a href="https://www.financemagnates.com/cryptocurrency/bitget-shares-proof-of-reserves-launches-merkle-validator/" target="_blank" rel="follow">Biget</a> recently launched their PoRs. The asset-reserve ratios of the major cryptocurrencies on Crypto.com include BTC (102%), ETH (101%), USDC (102%), USDT (106%), USDT (106%) and XRP (101%). Others are Dogecoin (101%), Shiba Inu (102%), Link (101%) and Mana (102%).</p> This article was written by Solomon Oladipupo at www.financemagnates.com.
Source : Finance Magnates
7 days ago

What Does the Future Hold for Crypto KYC?

<p class="MsoNormal">Crypto KYC has become far more commonplace in 2023. This is due to crypto companies becoming an increasingly significant element of the financial system, while terms like BTC, ETH, of NFTs have also become broadly known across the world.</p><p class="MsoNormal">Virtual asset service providers (VASPs for short) have played a crucial role in crypto’s growth and as crypto exchanges, and crypto wallets sprout so do new ways to use virtual assets illegally.</p><p class="MsoNormal">Money launderers are known for how quickly they can adapt themselves to new paradigms in finance, and within crypto, it is in no way different.</p><p class="MsoNormal">Sophisticated new ways of using virtual assets have prompted governments throughout the world to attempt to bring virtual asset service providers under AML regulations (anti-money laundering).</p><p class="MsoNormal">Subsequently, in virtue of said regulations, having <a href="https://www.financemagnates.com/fintech/payments/kyc-and-why-it-matters/" target="_blank" rel="follow">Know Your Customer</a> (KYC) procedures became mandatory.</p><p>What Is the Future of KYC in Crypto?</p><p class="MsoNormal">KYC data refers to the data collected from Virtual Asset Service Providers throughout their onboarding and transactions which verifies client identity. This due diligence happens on account of process compliance with the regulatory framework at hand, namely with what concerns Customer Due Diligence (CDD). </p><p class="MsoNormal">KYC intended purposes are simple: to identify clients and perform a verification check before granting them access to a service or to conduct a transaction. </p><p>The KYC Process Explained</p><p class="MsoNormal">Crypto regulation can drastically differ from one jurisdiction to another and it is important to understand that clients will also be required to submit different types of data.</p><p class="MsoNormal">Usually, the absolute minimum KYC data gathered is a client’s full name, his or her date of birth, and their residential address. </p><p class="MsoNormal">The data is crosschecked with government-issued documents which the client must also submit.</p><p>Traditional Steps in Crypto KYC Onboarding Process</p><p class="MsoNormal">There are different stages in a KYC onboarding process, depending obviously on which company is performing it and the jurisdiction in which it operates.</p><p class="MsoNormal">Generally speaking, onboarding starts with the identification stage in which the client submits his or her personal data. Usually, the client is asked to take a photo of their government-issued document and submit it.</p><p class="MsoNormal">The said document is checked for issues, mistakes, and so forth as a way to attest to its authenticity. The data on the document in question is crosschecked with user-submitted data as well.</p><p class="MsoNormal">Depending on the client’s address, it will be determined if he or she is currently located in a high-risk country.</p><p class="MsoNormal">Finally, there is usually a liveness check in which the user needs to prove his or her actual presence and a risk scoring stage in which the client is assessed with a risk category on the basis of the whole evaluation.</p><p>What Types of Crypto KYC Checks Are There?</p><p class="MsoNormal">In essence, KYC procedures can be either manual and/or automated.</p><p class="MsoNormal">Both options have their pros and cons.</p><p class="MsoNormal">Manual checks are much slower than automated ones. They are also costlier, and slightly more error-prone as human involvement leads to higher error rates.</p><p class="MsoNormal">As for automated KYC processes, they are known for bringing costs down while speeding up onboarding.</p><p class="MsoNormal">The process is designed to extract data from the documents users provide and compare the said data and documents to templates. </p><p>Why Do Crypto Companies Need KYC?</p><p class="MsoNormal">A KYC check is usually mandatory in most jurisdictions. Thus, users aren’t allowed to buy crypto or withdraw their funds before completing and passing a KYC check.</p><p class="MsoNormal">But, even with legal obligations aside, being KYC compliant is incredibly helpful to crypto companies in many ways as the transparency it provides prevents money laundering and financing terrorism, helps in the fight against fraud, and boosts overall trust in both clients and investors.</p><p>Should You Engage with Crypto Companies Operating without KYC?</p><p class="MsoNormal">Non-KYC exchanges are normally unregulated and decentralized. </p><p class="MsoNormal">They usually sprout in countries in which AML regulation is lacking (or almost non-existent).</p><p class="MsoNormal">There are several risks of using non-KYC platforms, but the main one is the heightened vulnerability that clients have to criminals. </p><p>Wrapping Up</p><p class="MsoNormal">Crypto’s very nature lies in its inherent decentralization. It seems fairly certain that embracing KYC is in the cards for cryptocurrency as it adds transparency while protecting the user.</p><p class="MsoNormal">Many countries have stated their message loud and clear as they pursue AML requirements and legislation which further tightens KYC and crypto together.</p><p class="MsoNormal">With Web 3.0 on the horizon, however, the topic of decentralization rises again as does the fascinating new concept of online self-sovereign identity (SSI).</p><p class="MsoNormal">Will regulators consider that approach when dealing with KYC and crypto? That will most likely be the main question going forward.</p><p class="MsoNormal">As for now, crypto-related businesses that ensure AML compliance are unquestionably the highest ranked amongst user and investor trust, and while being fully compliant might be a hard endeavor, it seems incredibly beneficial.</p> This article was written by Pedro Ferreira at www.financemagnates.com.
Source : Finance Magnates
1 days ago

UK Moves to Regulate Crypto for Better Consumer Protection

<p>Great Britain is preparing the ground for cryptocurrency regulation in the country in the future, the UK's government announced on Wednesday. Public consultation has been launched as the first step to prepare a draft law on regulating digital assets.</p><p>UK Starts Crypto Regulation Works</p><p>According to the official press release published on the government website, the UK wants to protect its consumers better and allow the crypto industry to grow from within the regulated ecosystem. The new crypto rules will aim to exclude the risk of bad actors entering the market and reduce the risk of <a href="https://www.financemagnates.com/terms/m/money-laundering/" class="terms__main-term" id="f30ffb65-351e-44d6-9dae-0714f08b59b2" target="_blank">money laundering</a> activities using a decentralized and anonymous crypto niche.</p><p>"We remain steadfast in our commitment to grow the economy and enable technological change and innovation – and this includes cryptoasset technology. But, we must also protect consumers who are embracing this new technology – ensuring robust, transparent, and fair standards," Andrew Griffith, the Economic Secretary to the Treasury, commented on the proposed regulations.</p><p>The UK government pointed out that cryptocurrencies, as an emerging sector still experience heightened volatility. In addition, the recent high-profile collapse of many companies following <a href="https://www.financemagnates.com/cryptocurrency/ftx-the-rise-the-fall-and-the-reaction/" target="_blank" rel="follow">the bankruptcy of the FTX exchange</a> has exposed the 'structural vulnerability' of some business models prevalent in the industry.</p><p>"Our robust approach to regulation mitigates the most significant risks while harnessing the advantages of crypto technologies. This enables a new and exciting sector to safely flourish and grow, boosting jobs and investment," the press release added.</p><p>In April 2022, <a href="https://www.financemagnates.com/cryptocurrency/why-the-wild-west-crypto-market-faces-and-needs-regulation/" target="_blank" rel="follow">John Glen MP, then Economic Secretary, set out plans</a> to regulate stablecoins and to transfer Great Britain into one of the global crypto hubs. From 2022, the Financial Conduct Authority (FCA) has the right to supervise cryptocurrency businesses in relation to money laundering and terrorist financing risks. As a result, companies wishing to operate in the local market must obtain authorization from the regulator. </p><p>However, <a href="https://www.financemagnates.com/cryptocurrency/education-centre/is-cryptocurrency-legal-in-the-uk/" target="_blank" rel="follow">the industry is not regulated from an individual customer's point of view</a>. In case of lost funds, due to the exchange collapse or the loss of a private key, the investor cannot rely on the Financial Services Compensation Scheme. FCA's announcement in November following the collapse of FTX was a prime example when the institution reiterated that <a href="https://www.financemagnates.com/cryptocurrency/fca-has-no-good-news-for-ftx-customers/" target="_blank" rel="follow">it is not responsible for regulating crypto</a>, and investors are most likely left to face this problem on their own.</p><p>Watch the recent FMLS22 panel on the regulation roundup for 2023.</p><p>When Will the UK Start Crypto Market Regulations?</p><p>Although the Treasury has not set a date for the final cryptocurrency market <a href="https://www.financemagnates.com/terms/r/regulation/" class="terms__secondary-term" id="341d154e-1396-4d12-a357-4837e79c4146" target="_blank">regulation</a> or publishing a draft bill, the current public consultation that was launched on 1 February will run until 30 April. After that, the government will review the feedback and begin preparing a response. </p><p>Once the draft regulations are in place, the FCA will hold an individual consultation with the industry to discuss how the cryptocurrency sector will operate once the new rules are implemented. </p><p>The UK's proposed rules are intended to make cryptocurrency systems responsible for setting out detailed requirements for the content of disclosure and admission documents, ensuring robust and fair standards for all trading platforms. On top of that, the regulations apply to custodians and financial intermediaries responsible for holding assets belonging to clients.</p><p>"These steps will help to deliver a robust world-first regime strengthening rules around the lending of cryptoassets, whilst enhancing consumer protection and the operational resilience of firms," the statement added.</p><p>Time Limited Exemption for Crypto Firms</p><p>Moreover, the UK government has announced that, following concerns about the small number of crypto firms that the FCA authorizes to issue their own promotions, the Treasury is introducing a time-limited exemption.</p><p>It means that digital asset firms authorized by the FCA for anti-money laundering purposes will be able to issue their promotional materials before the new regulatory regime is presented.</p><p><a href="https://www.financemagnates.com/cryptocurrency/can-mica-take-europe-to-the-crypto-promised-land/" target="_blank" rel="follow">The European Union is working on its own cryptocurrency regulations</a> under the Markets in Crypto-Assets regulation (MiCA) proposal. MiCA seeks to regulate issuers of stablecoins and other unbacked crypto-assets such as Bitcoin.</p> This article was written by Damian Chmiel at www.financemagnates.com.
Source : Finance Magnates
9 days ago

Third Time's the Charm? Gemini Cuts its Workforce Once Again

<p>Gemini, the <a href="https://www.financemagnates.com/terms/c/cryptocurrency-exchange/" class="terms__main-term" id="601e2e5f-0c28-4253-9ad4-5e6b251ba2fa" target="_blank">cryptocurrency exchange</a> owned by the Winklevoss twin brothers, is set to reduce its workforce by a further 10%, making job cuts for the third time in the last seven months. Despite a rebound in cryptocurrency prices in 2023, the crypto winter continues, with more companies announcing job cuts in the sector.</p><p>Gemini Cuts Jobs for the Third Time</p><p>According to an internal message viewed by The Information, the company managed by Tayler and Cameron Winklevoss is set to lay off a tenth of its current workforce. The news was distributed on Monday via the company's Slack and separately confirmed by CNBC in an interview with a company spokesperson.</p><p>Gemini had about 1,000 employees in November, <a href="https://www.financemagnates.com/cryptocurrency/gemini-approved-as-a-virtual-asset-service-provider-in-ireland/" target="_blank" rel="follow">having laid off about 7% of its workforce in July</a> and <a href="https://www.financemagnates.com/cryptocurrency/crypto-winter-gemini-sheds-off-10-of-workforce-in-first-job-cut/" target="_blank" rel="follow">cut 10% of its workforce a month earlier.</a> "It was our hope to avoid further reductions after this summer, however, persistent negative macroeconomic conditions and unprecedented fraud perpetuated by bad actors in our industry have left us with no other choice but to revise our outlook and further reduce headcount," Cameron Winklevoss wrote in a Slack message seen by The Information.</p><p>Gemini Problems Pile Up</p><p>Although the crypto market is still near its long-term minimums, low prices are one of Gemini's latest problems. The platform is facing a court battle with the U.S. <a href="https://www.financemagnates.com/terms/s/securities-and-exchange-commission-sec/" class="terms__secondary-term" id="3718b4df-fc5f-479a-861e-f52759439c15" target="_blank">Securities and Exchange Commission (SEC</a>) over alleged unregistered sales of securities in connection with its partnership with Genesis, Barry Silbert's bankrupt company.</p><blockquote class="twitter-tweet"><p lang="en" dir="ltr">1/ Earn Update: This evening, Genesis Global Capital, LLC (Genesis) filed for bankruptcy under Chapter 11. This is a crucial step towards us being able to recover your assets.</p>— Cameron Winklevoss (@cameron) <a href="https://twitter.com/cameron/status/1616298056097624064?ref_src=twsrc%5Etfw">January 20, 2023</a></blockquote><p>The lender generated sizable profits for Gemini customers through Gemini Earn, the platform's high-yield product. However, the relationship between the two companies was severely damaged when the FTX exchange filed for bankruptcy. Genesis froze loans and redemptions, leaving customers of the Winklevoss brothers' exchange without almost $900 million. </p><p>It forced a sizable group of the exchange's 340,000 customers to take matters into their own hands. They filed a class action lawsuit against the exchange. Meanwhile, Genesis has filed for bankruptcy protection, where Gemini is listed as the largest creditor with $765.9 million.</p><p>Watch the recent FMLS22 panel on reimagining the crypto market structure.</p><p>Industry Feels the Crypto Blues</p><p>While Gemini is laying off employees for the third time in a short period, other cryptocurrency companies are also choosing to cut jobs to optimize costs.</p><p>A week ago, ConsenSys, a cryptocurrency software company, <a href="https://www.financemagnates.com/cryptocurrency/consensys-joins-crypto-layoffs-with-11-workforce-cut/" target="_blank" rel="follow">confirmed its plans to cut 11% of its current workforce</a>, which translates to almost 100 positions. The company wants to focus on its core business and increase existing productivity.</p><p>Similar plans were announced by the Coinbase exchange, <a href="https://www.financemagnates.com/cryptocurrency/binance-hires-when-coinbase-cuts-employment-amidst-crypto-winter/" target="_blank" rel="follow">which intends to lay off about 20%, or 950 people</a>. It is part of a restructuring effort expected to be completed in the second quarter, costing the platform up to $164 million.</p><p>Blockchain.com, a Luxembourg-headquartered cryptocurrency exchange, <a href="https://www.financemagnates.com/cryptocurrency/mass-layoff-continues-as-blockchaincom-sheds-25-of-workforce/" target="_blank" rel="follow">decided to cut 25% of its workforce last year</a>. The largest number of affected employees resided in Argentina, where the platform closed its offices. In total, about 150 people lost their jobs.</p><p>In 2023, bitcoin has grown by more than 20%, with the total market capitalization of the digital asset rising above $1 trillion. The question is whether this is enough for the industry to forget the upheaval caused by the collapse of FTX and the Terra ecosystem last year.</p> This article was written by Damian Chmiel at www.financemagnates.com.
Source : Finance Magnates
9 days ago

Stablecoins Will Re-Enter Japan? FSA Works on Regulations

<p>Japan intends to allow local investors to trade foreign stablecoins, such as USD Coin (USDC) or Tether (USDT), by the end of the second quarter of 2023 at the latest, The Financial Services Agency (<a href="https://www.financemagnates.com/tag/fsa/" target="_blank" rel="follow">FSA</a>) reported.</p><p>Stablecoins and Japanese Ban</p><p>However, the FSA is unlikely to allow all foreign stablecoins, and the final list is still unknown. A spokesperson for the FSA told Cointelegraph that restrictions may still be imposed on some of them.</p><p>The Japanese regulator will conduct its own <a href="https://www.financemagnates.com/terms/c/compliance/" class="terms__main-term" id="569f58ee-534c-44f0-a7cd-f55b0f9a2b2a" target="_blank">compliance</a> checks to confirm that stablecoins will be safe for local users. Ultimately, the most popular ones could not be allowed to enter the market. However, Details on the matter have not been provided.</p><p>"The FSA does not provide any opportunity to access such information before the decision is made," a spokesperson for the regulator said.</p><p>It was first reported that <a href="https://www.financemagnates.com/tag/japan/" target="_blank" rel="follow">Japan </a>would loosen <a href="https://www.financemagnates.com/terms/s/stablecoin/" class="terms__secondary-term" id="e84b040e-4d12-499b-99bf-8ba75ea058ca" target="_blank">stablecoin</a> regulations in late 2022. At the time, local media outlets suggested that the regulators would allow foreign stablecoin trading while maintaining a cap on remittances and asset preservation by deposits.</p><p>Watch the recent FMLS22 panel on the current crypto winter.</p><p>Japan Loosens Stablecoin Regulations after Tightening Too Much</p><p>A bill restricting the issuance of foreign stablecoins <a href="https://www.financemagnates.com/cryptocurrency/japan-passes-bill-that-defines-stablecoins-as-digital-money/" target="_blank" rel="follow">was enacted in June 2022</a>, requiring issuers to peg the tokens to the Japanese yen. The legislation is expected to finally go into effect in 2023, but it has already changed the picture of the local cryptocurrency industry.</p><p>None of the 31 FSA-registered cryptocurrency exchanges has since offered stablecoin operations. In 2021, the FSA led the discussion on <a href="https://www.financemagnates.com/cryptocurrency/regulation/japans-fsa-starts-discussions-to-impose-stricter-crypto-laws/" target="_blank" rel="follow">stronger industry regulation</a> while preserving room for further development of cryptocurrency projects. In the case of the stablecoin market, the proposed regulatory changes have proved to be too strict.</p><p>More importantly, some exchanges, including Kraken and Coinbase, have decided to leave the country, explained by the weak cryptocurrency market. However, the loosening of regulations may encourage some players to return. In September, it was reported that Binance, one of the largest cryptocurrency exchanges, is seeking to re-enter the Japanese market after four years of absence.</p> This article was written by Damian Chmiel at www.financemagnates.com.
Source : Finance Magnates
2 days ago

Crypto Narratives and the Bitcoin Anti-Narrative

<p>The word narrative is overused in crypto, and it might elicit a roll of the eyes if uttered in dialogue with a committed Bitcoin maxi. It refers to a story, in this case about a coin, protocol or product, that will drive attention and attract buyers.</p><p> You could argue that rather than narratives, crypto needs concrete real-world utility, but still, when sentiment picks up and bullishness stirs for certain, the reality, whether we like it or not, is that narratives have a gravitational effect on incoming traders.</p><p> As for when crypto bullishness might return, opinion is split. Some observers reckon the early stirrings are already upon us, and that BTC’s recent price rise is indicative that the bottom has been reached and the cycle is rotating us into a fresh phase. Others, meanwhile, maintain that recent pumps are the result of an oversold market in which too many traders were positioned short, and don’t represent a meaningful shift in structure.</p><p> Either way, it’s worth being ready for incoming storylines that can become prominent when bulls are back in control, and, regardless of whether or not we actually believe in them, we can already get an idea of what those narratives might be.</p><p>Crypto Narrative and Bitcoin Anti-Narrative Explained</p><p>Artificial Intelligence</p><p>At the tail-end of 2021, the metaverse was a hot topic, and accordingly, any coin that was connected via metaverse notions briefly rode the waves of that hype.</p><p> With the rise of ChatGPT, and with investment channeling into AI and <a href="https://www.financemagnates.com/terms/m/machine-learning/" class="terms__main-term" id="54c21f0f-1c36-4acc-80dc-6a151f07773e" target="_blank">Machine Learning</a> development, we can expect next time around that any <a href="https://www.financemagnates.com/tag/crypto/" target="_blank" rel="follow">crypto protocols</a> related to AI will perform well. This has, in fact, already played out in miniature, with coins such as Fetch and AGIX experiencing gains while ChatGPT has dominated tech news, and that dynamic can perhaps play out more dramatically under bullish conditions.<a></a></p><p>Gaming and the Metaverse</p><p>Speaking of the metaverse, we should not imagine that it’s a bygone topic from an earlier cycle. Development continues on metaverse projects across several companies, including Yuga Labs, The Sandbox, Decentraland and Meta (formerly Facebook), and though media attention has shifted for the moment, there’s every chance that another bout of hype, hopefully with inviting products attached, will bubble up again in the future.</p><p> Gaming and metaverse coins, such as GALA and NAKA had strong runs in 2021, and that was without even having mainstream adoption to showcase. Should some genuinely enjoyable-to-use products start picking up momentum (and there is plenty of development on this front), then gaming can become a strong narrative.</p><p>On this note, another one to watch might be the TreasureDAO gaming ecosystem and its MAGIC token, operating on the Arbitrum network, which has stated that it wants to build a decentralized version of Nintendo.</p><p>Watch this recent FMLS22 panel on reimagining the crypto market structure.</p><p>Decentralized Storage and Oracles</p><p>If blockchains are to enable decentralized computing (and, as a caveat, not everyone agrees that this is the main purpose of crypto development), then there are practical considerations around how to store and recall data in a securely decentralized manner, and how to gather information from the web to be used in on-chain applications.</p><p>Storage protocols deal with the issue of keeping and accessing files without the need for centralized entities and include the likes of Filecoin, Sia, Arweave and Storj. Robust permissionless storage is particularly relevant to NFTs, as, at the moment, while NFTs are crypto tokens, many simply link to image files kept on regular, centralized servers.</p><p> Then there are Oracles, which are protocols to connect decentralized applications with the wider world by retrieving outside data for smart contracts. Leading the way is Chainlink, with projects such as Band Protocol and UMA also in the running.</p><p> Decentralization should be at the core of the crypto discussion, it’s a fundamental driving concept, and if there’s a refocus on basic principles after the multiple wayward shambles of 2022, then achieving full decentralization, utilizing storage and oracles, could be prioritized.</p><p>The Bitcoin Anti-Narrative</p><p>There is also the anti-narrative of having no narrative at all, which is embodied most clearly, or perhaps uniquely, by Bitcoin. In this case, there is a refreshing simplicity: Bitcoin is sound money, digitally decentralized, for making <a href="https://www.financemagnates.com/terms/p/payments/" class="terms__secondary-term" id="f1d2a713-da14-4a6b-8fcd-e8f360d07f45" target="_blank">payments</a>, saving, and preserving wealth. It’s an attractive, no-nonsense proposition and doesn’t require any decorative elaboration.</p><p>Other Stories</p><p>Other niches and narratives are at play, some of which can gain traction. Among these, there are Layer 2s (Polygon and Arbitrum are notable), Ethereum competitors (Solana, Avalanche, Cardano and more), privacy coins (Monero is most prominent), and Cosmos present itself, ambitiously, as the internet of blockchains, which, as with TreasureDAO aiming to become the <a href="https://www.financemagnates.com/tag/blockchain/" target="_blank" rel="follow">blockchain</a> Nintendo, sounds compelling.</p><p>It’s also plausible that <a href="https://www.financemagnates.com/tag/nfts/" target="_blank" rel="follow">NFTs</a> will, at some point, go on another run to match, or even exceed, that of 2021. Many seasoned crypto traders remained on the NFT sidelines last time, caught unawares by the sudden explosion of interest, and unsure what to make of what appeared, from a certain perspective, to be limited-supply meme coins with JPEGs attached.</p><p> NFTs have established themselves more robustly since then, some projects are building prolifically, and there is a better understanding of what they are and how they can perform. In fact, if buyers are searching for crypto utility and crossover appeal, it may even be NFTs that can lead the way.</p> This article was written by Sam White at www.financemagnates.com.
Source : Finance Magnates
9 days ago

NYDFS Issues Guidelines to Protect Crypto Customers’ Funds

<p>The New York State Department of Financial Services (NYDFS) released regulatory guidance on Monday, ordering all crypto companies to separate funds belonging to the customers and their own. The regulatory superintendent, Adrienne Harris, highlighted that the rules focus on protecting customers' funds in case of an insolvency or similar proceeding.</p><p>NYDFS Issues Guidelines on Crypto Fund Segregation</p><p>“DFS’s virtual currency <a href="https://www.financemagnates.com/terms/r/regulation/" class="terms__main-term" id="341d154e-1396-4d12-a357-4837e79c4146" target="_blank">regulation</a> has protected New Yorkers since 2015,” Harris said. “Today’s guidance reminds DFS-regulated virtual currency companies of our expectations regarding the safekeeping of customer assets.”</p><p>The official announcement highlighted four areas the new guidelines are addressing. These include the segregation and separate accounting of customer assets, clarification of custody and safekeeping services, sub-custody arrangements with third parties, and proper disclosure of general terms and conditions to the customers.</p><p>NYDFS is one of the crypto regulators with <a href="https://www.financemagnates.com/cryptocurrency/news/bitooda-obtains-bitlicense-from-nydfs/" target="_blank" rel="follow">clear and stringent rules</a>, overseeing the activities of the crypto companies within the state of New York. The new guidelines against co-mingling of funds will apply to the companies that the regulator has licensed or chartered to custody, or temporarily hold, store, or maintain virtual currency assets on behalf of their customers.</p><p>Last month, the regulator <a href="https://www.financemagnates.com/cryptocurrency/new-york-regulator-mandates-crypto-permission-for-banks/" target="_blank" rel="follow">mandated the banking firms</a> in the state to seek advance permission before they or their authorized third-party agents engage in cryptocurrency-related activities.</p><p>Check out the latest FMLS22 session on "Will Crypto Fizzle Out or Here to Stay?"</p><p>FTX Collapse Triggers the Necessity of New Rules</p><p>The new guidelines came after the collapse of Sam Bankman-Fried FTX empire. He has allegedly used FTX customer funds to issue illicit loans to sister company Alameda Research. FTX, Alameda Research, and more than 130 other affiliates are now under <a href="https://www.financemagnates.com/terms/b/bankruptcy/" class="terms__secondary-term" id="41b3ef0d-d805-441d-8443-121890264e94" target="_blank">bankruptcy</a> protection, while Bankman-Fried is <a href="https://www.financemagnates.com/cryptocurrency/news/ftxs-sam-bankman-fried-pleads-not-guilty-to-us-criminal-charges/" target="_blank" rel="follow">facing criminal charges</a>.</p><p>Though Bankman-Fried, who does not associate himself with the operations of FTX anymore, wrote in a blog that the collapsed crypto exchange should have enough funds for the customers, the bankruptcy proceedings still need to start to compensate the customers.</p><p>Last year, the crypto prices plummeted from their all-time high levels, and the two major collapses in the industry, first Terra Luna and then FTX. Both these events have triggered the <a href="https://www.financemagnates.com/cryptocurrency/crypto-lender-genesis-files-for-bankruptcy-in-new-york/" target="_blank" rel="follow">collapse of several other firms </a>that had exposure to them.</p> This article was written by Arnab Shome at www.financemagnates.com.
Source : Finance Magnates
7 days ago

First Binance and Now Coinbase Have Both Been Fined $3.3m in Netherlands

<p>The leading digital assets <a href="https://www.financemagnates.com/terms/e/exchange/" class="terms__main-term" id="b5da6e64-2afe-421d-9b81-16404b7d59d6" target="_blank">exchange</a> Coinbase has been slapped with a hefty $3.3 million fine by the Dutch central bank, De Nederlandsche Bank (DNB). A fine of an identical amount was paid a few months earlier by its rival platform <a href="https://www.financemagnates.com/tag/binance/" target="_blank" rel="follow">Binance</a>.</p><p>According to the DNB's press release, the fine was imposed due to unauthorized crypto activities at the Coinbase exchange, from November 2020 until at least 24 August 2022.</p><p>Coinbase Europe Limited Fined by DNB</p><p>The Coinbase European subsidiary, Coinbase Europe Limited, has been operating unregistered in the Netherlands since at least November 2020. Earlier in May of the same year, the DNB imposed a registration requirement on all cryptocurrency service providers due to the high risk of money laundering and terrorist financing. </p><p>The base fine for a violation committed by Coinbase is €2 million, but it was increased due to the fact that Coinbase is one of the largest cryptocurrency exchanges in the world and has a large number of consumers in the Netherlands. </p><p>"In addition, Coinbase has enjoyed a competitive advantage in that it has not paid any supervisory fees to DNB or incurred other costs in connection with DNB's regular supervision activities. A further important reason for the increased fine is that the non-compliance persisted over a prolonged period," DNB stated.</p><p>The decision to impose the fine was made on 18 January, but the official announcement was not released to the media until 26 January.</p><blockquote class="twitter-tweet"><p lang="en" dir="ltr">DNB imposes administrative fine on Coinbase Europe Limited for providing crypto services without the legally required registration until 22 September 2022. <a href="https://t.co/wEjAez6GDs">https://t.co/wEjAez6GDs</a> <a href="https://t.co/cDzXxKRqq4">pic.twitter.com/cDzXxKRqq4</a></p>— De Nederlandsche Bank (@DNB_NL) <a href="https://twitter.com/DNB_NL/status/1618523195161858049?ref_src=twsrc%5Etfw">January 26, 2023</a></blockquote><p>Binance Paid a Similar Fine in July</p><p>The Dutch regulator <a href="https://www.financemagnates.com/cryptocurrency/regulation/binance-fined-33-million-by-dutch-central-bank/" target="_blank" rel="follow">imposed an identical fine on Binance last July</a>. Binance was required to pay a penalty of €3.3 million for offering local investors access to cryptocurrency services without proper regulation.</p><p>DNB's explanation at the time was very similar: Binance is a large exchange with a sizable customer base, which used a competitive advantage in failing to comply with local regulations. The Dutch regulator pointed to the anonymity of cryptocurrencies, which can become a tool for <a href="https://www.financemagnates.com/terms/m/money-laundering/" class="terms__secondary-term" id="f30ffb65-351e-44d6-9dae-0714f08b59b2" target="_blank">money laundering</a> without proper oversight.</p><p>"The registration requirement for crypto service providers was introduced on 21 May 2020 because of the high risk of money laundering and terrorist financing associated with crypto services. This is related to the anonymity associated with crypto transactions. The registration requirement enables DNB to monitor the risk of illicit financial flows more effectively," the regulator explained.</p><p>Almost a year earlier, the DNB had issued a public warning against Binance for unauthorized activity. <a href="https://www.financemagnates.com/cryptocurrency/news/the-fcas-binance-warning-what-does-this-meaning-for-uk-crypto-regulation/" target="_blank" rel="follow">Several other regulators have published similar notices.</a></p><p>Watch the recent FMLS 2022 Executive Interview with Lory Kehoe, the Director of EMEA Business Development at Coinbase.</p><p>Coinbase Faces Crypto Winter Troubles</p><p>The fine imposed on Coinbase adds to the recent problems the platform has faced. At a time when <a href="https://www.financemagnates.com/cryptocurrency/binance-hires-when-coinbase-cuts-employment-amidst-crypto-winter/" target="_blank" rel="follow">rival Binance is increasing its headcount</a>, Coinbase has decided to shed its workforce in the face of a prolonged cryptocurrency winter.</p><p>Due to the staff cuts, the platform <a href="https://www.financemagnates.com/cryptocurrency/coinbase-stops-operations-in-japan-due-to-market-volatility/" target="_blank" rel="follow">has decided to suspend its operations in the Japanese market</a>. All local customers must withdraw their funds and transfer them to another platform until 16 February 2023.</p><p>"Due to market conditions, our company has made the difficult decision to halt operations in Japan and to conduct a complete review of our business in the country. However, we are committed to making this transition as smooth as possible for our valued customers," Coinbase wrote in a blog post.</p><p>Many other cryptocurrency exchanges have reported job cuts in the period. <a href="https://www.financemagnates.com/cryptocurrency/crypto-platform-luno-sheds-35-of-workforce/" target="_blank" rel="follow">Luno announced a similar decision this week</a>, reducing its workforce by 35%. Earlier, a potential reduction was announced by Crypto.com, looking to lay off up to 20% of current employees.</p> This article was written by Damian Chmiel at www.financemagnates.com.
Source : Finance Magnates
1 days ago

StarOptions and B2G Promoter Gets 60 Months in Prison for Fraud

<p>On Tuesday, the federal court in Brooklyn sentenced John DeMarr to 60 months in prison for his role in a multi-million dollar cryptocurrency and <a href="https://www.financemagnates.com/forex/aviv-talmor-gets-4-years-in-prison-for-22-million-utrade-fraud/" target="_blank" rel="follow">securities fraud scheme</a>. The sentencing came after DeMarr pled guilty to one count of conspiracy to commit securities fraud in July 2021.</p><p>Additionally, the court ordered DeMarr to pay more than $3.5 million in damages along with the prison sentence.</p><p>StarOptions and B2G Promoter Gets 60 Months in Jail</p><p>According to the court documents, DeMarr was a promoter of several digital asset-related companies. He conspired with others to defraud investors by luring them to their companies, Start Options and B2G, with false and misleading representations. </p><p>They promoted Star Options as an online investment platform that provides cryptocurrency mining, trading, and digital asset trading services. At the same time, B2G was touted as an 'ecosystem' allowing users to trade B2G tokens, offer <a href="https://www.financemagnates.com/terms/s/staking/" class="terms__main-term" id="ebfdd4d9-00b3-41ff-bff5-878cd2eb105f" target="_blank">staking</a>, and trade digital and fiat currencies. Both these platforms were fraudulent, the US Department of Justice highlighted.</p><p>Another Too Good to Be True Scheme</p><p>DeMarr and his co-conspirators falsely claimed that the investors' funds would be invested in digital asset mining and trading platforms, earning massive profits. They even paid for celebrity endorsements. One unnamed actor famous for martial arts films made in the 1980s and 1990s even became a promoter and celebrity spokesperson of the scheme and falsely claimed that B2G could generate an 8,000 percent return in one year. Further, the perpetrators used other celebrity endorsements to promote Start Options.</p><p>However, in reality, none of the investor funds was invested. Instead, the perpetrators diverted the funds into their own accounts and used them for personal expenses and purchasing luxury items, including cars and jewellery.</p><p>"DeMarr took advantage of those who trusted him, persuading them to double down on their investments when he knew that his cryptocurrency companies and their dubious celebrity endorsements were scams being used to fund his lavish lifestyle," said Breon Peace, US Attorney for the Eastern District of New York.</p><p>"The victims ultimately lost everything, so it is appropriate that DeMarr lose his freedom for concocting this fraud."</p><p>Check out the latest FMLS22 session on "Digital Assets’ Marketing Under A Magnifying Glass."</p><p>The Rise in Crypto Scams</p><p>The growing popularity of <a href="https://www.financemagnates.com/terms/c/cryptocurrencies/" class="terms__secondary-term" id="b091101e-6e02-4b36-aa0e-7c972dfdd6ed" target="_blank">cryptocurrencies</a> has also encouraged fraudsters to up their efforts in scamming investors. The number of scam tokens has risen exponentially over the years. According to a Solidus Labs report, 125,084 scam tokens were deployed last year compared to only 83,368 in the previous year.</p><p>Further, data from the UK police revealed that cryptocurrency frauds in the country <a href="https://www.financemagnates.com/cryptocurrency/cryptocurrency-fraud-in-uk-rises-by-32-to-270m/" target="_blank" rel="follow">jumped by 32 percent</a> between October 2021 and September 2022 to £226 million. Meanwhile, the UK court recently <a href="https://www.financemagnates.com/cryptocurrency/uk-sends-a-gang-of-four-to-prison-for-21m-crypto-fraud/" target="_blank" rel="follow">sent four individuals to prison for 15 years</a> for their role in causing a loss of £21 million to an Australian cryptocurrency exchange.</p> This article was written by Arnab Shome at www.financemagnates.com.
Source : Finance Magnates
3 days ago

OneCoin Founder Ruja Ignatova Is Back after 5 Years in Hiding

<p>Ruja Ignatova, the Founder and mastermind behind the OneCoin crypto fraud, allegedly resurfaced after vanishing for <a href="https://www.financemagnates.com/cryptocurrency/news/finnish-authorities-take-aim-onecoin-re-launching-investigation/" target="_blank" rel="follow">more than five years</a>. Last week's property listing in central London exposed a 42-year-old German citizen of Bulgarian origin.</p><p>Ruja Ignatova, the OneCoine Founder, Leaves a Trace</p><p>According to information first reported by iNews, the name and surname of the 'cryptoqueen' appeared in real estate documents regarding a property in the London suburb of Kensington, England. </p><p>Ignatova purchased the penthouse for her company, but new regulations in the UK require to list the name of the 'beneficial owner'. It forced the criminal to come out of hiding as she had to be officially named on the document alongside her shell firm.</p><p>Prestigious property retailer Knight Frank advertised the £11 million property. However, the listing was removed after media reports showed the connection between the penthouse and the wanted criminal.</p><p>Why is this information so important? It suggests that Ignatova is still alive and that real estate documents might contain clues about her last whereabouts. Even if she cannot be captured, the property could be used to repay some of her victims.</p><p>Watch the recent FMLS22 panel on reimagining the crypto market structure.</p><p>The History of OneCoin</p><p>Ruja Ignatova has become extremely popular with international investigative bodies in recent years. She has made it onto the FBI's list of the ten most wanted criminals and <a href="https://www.financemagnates.com/cryptocurrency/news/onecoin-founder-ruja-ignatova-named-among-europes-most-wanted/" target="_blank" rel="follow">has been named by Europol as one of the most wanted fugitives</a>.</p><p>Ignatova and her business partner Sebastian Greenwood launched the OneCoin cryptocurrency in 2014, advertising it as the future '<a href="https://www.financemagnates.com/terms/b/bitcoin/" class="terms__main-term" id="261088a9-0f41-4202-a73c-31f75ba6bd93" target="_blank">bitcoin</a> killer'. OneCoin turned out to be one of the largest cryptocurrency scams in history, spreading to 175 countries where investors lost an estimated $5 billion.</p><p>According to US court documents, the pyramid scheme's services may have been used by 3 million people at its peak, with total revenue of almost $4 billion between 2014 and 2016.</p><p>Investors were attracted by the vision of high, even tenfold, returns on their initial investment. However, most of them never saw their money again, and Ignatova and Greenwood disappeared in 2017. The accomplice was arrested in July 2018 in Thailand and extradited to the United States. <a href="https://www.financemagnates.com/cryptocurrency/onecoin-co-founder-karl-greenwood-pleads-guilty-to-wire-fraud/" target="_blank" rel="follow">He will be sentenced in April</a> this year and faces 20 years in prison.</p><p>A year later, Ignatova's nephew, <a href="https://www.financemagnates.com/cryptocurrency/news/onecoin-investors-settle-with-co-mastermind-konstantin-ignatov/" target="_blank" rel="follow">Konstantin Ignatova</a>, who tried to run a further financial pyramid scheme after his sister's escape, was also put behind bars. He will be sentenced next month and is charged with <a href="https://www.financemagnates.com/terms/m/money-laundering/" class="terms__secondary-term" id="f30ffb65-351e-44d6-9dae-0714f08b59b2" target="_blank">money laundering</a> and fraud conspiracy.</p><p>In 2020, the US court convicted Mark Scott, OneCoin's former lawyer. <a href="https://www.financemagnates.com/cryptocurrency/news/onecoin-lawyer-mark-scott-banned-from-practicing-law-in-new-york-state/" target="_blank" rel="follow">Scott allegedly helped to launder $400 million</a> of Ignatova's fraudulently acquired money and received more than $50 million in commission for his involvement. </p> This article was written by Damian Chmiel at www.financemagnates.com.
Source : Finance Magnates
6 days ago

What Next for PFPs, Art and Big Brand NFTs?

<p>While still far from the kind of dizzying bull run that characterized 2021, NFTs have been enjoying an optimistic start to the year. There’s no froth, at the moment, and the atmosphere is relaxed, but there’s plenty of development, trades are happening, and some collections have seen their prices buoyant and rising.</p><p> Underlying all this, there are a couple of prevalent sentiments. First, is that creativity is flowing cleanly, as developers build, artists provide color, and founders seek out more efficient ways of utilizing the tools at hand to produce lasting value. Second, there is a sense that because so much is in motion (in terms of developer and artistic activity), any spark in the wider crypto markets can quickly ignite the NFT space, setting off renewed surges in speculation.</p><p> Rewind a couple of years, and NFTs were in a simpler state than they are now, but here in 2023, distinct categories have emerged. Let’s consider how some of those brackets might develop from here.</p><p>PFPs</p><p>If any category captures NFTs as they have appeared in the public consciousness up to now, then it’s profile pictures (PFPs). These are the generative collections of matching characters, usually facing to one side, but each with its own features and variations, which are utilized as identity markers on social media.</p><p>The most famous collections seem capable now of consistently maintaining status as prized assets. CryptoPunks (the original 10,000 item PFP collection) are art objects in their own right. Bored Ape Yacht Club (BAYC) has become the foundation of a budding <a href="https://www.financemagnates.com/tag/web3/" target="_blank" rel="follow">web3</a> empire. And several other collections, such as Doodles, which recently acquired the animation studio Golden Wolf, and Azuki, which this month launched its own metaverse space, appear intent, like BAYC, on expanding beyond the parameters of static PFPs.</p><p> There are other projects strongly in the running too (one could point to Cool Cats, Renga, and the Nike-affiliated CloneX as realistic contenders), but it appears now that any new PFP collection that wants to stick around long-term needs to have expansion plans ready to go and be meticulously executed.</p><p> It was PFPs that brought <a href="https://www.financemagnates.com/tag/nfts/" target="_blank" rel="follow">NFTs</a> to mainstream awareness, but NFTs, it seems, are ready to move past PFPs.</p><p>Works of Art</p><p>The art section of the NFT space increasingly feels like a market of its own, with its own distinct dynamics, and it has an atmosphere in common with traditional art markets. That said, trade in NFT art is tangibly enhanced by the benefits of working digitally on blockchains.</p><p> Still, art NFTs will always revolve around creator credentials, utility and empire-building are secondary considerations, and as long as the artist remains prestigious and collectible, then so do the tokens to which their work is attached.</p><p>Something of note around art NFTs is their tie-ins with real-life galleries and physical events. On this note, the famed generative art NFT platform Art Blocks has been busy. Last year, Art Blocks began a partnership with Pace Gallery, and this week, a partnership with Bright Moments was announced. That latter organization, Bright Moments, specializes in organizing NFT minting events in physical, real-world galleries.</p><p> This direction, bringing together digital NFT-connected art with physical events and traditional venues, seems likely to continue.</p><p>Check out the FMLS22 session on NFTs for Fintechs "From Asset class to the Machinery of Ownership."</p><p>Web3 Culture and Big Names</p><p>A striking difference between NFTs a couple of years ago and the landscape now is the presence of brands and big names coupled with an emphasis on practical utility. This is in contrast to the niche-tech, almost avant-garde quality of NFTs in 2021 and earlier when tokens seemed like a visual crypto experiment and pixel art JPEGs were swapped on the Ethereum <a href="https://www.financemagnates.com/tag/blockchain/" target="_blank" rel="follow">blockchain</a> simply because it was possible to do so.</p><p>Now, companies with clout want a professional-looking web3 presence, but brand maneuvers are bringing mixed results. One such big-name launch that didn’t go to script was the Porsche 911 NFT collection, released earlier this week.</p><p> The German car manufacturer had planned to sell 7,500 NFTs, based around its iconic 911 model, at 0.911 ETH each. The digital tokens feature a blank white 911, and the promise is that they can be artistically customized in future, and will provide further utility within Porsche’s web3 strategy.</p><p> However, demand was lacking and minting ground to a crawl at about 1,500 sales, with secondary sales concurrently taking place at below the official mint cost. Porsche responded with an announcement that the sale would close, which appeared to cause an increase in interest, and by the time minting actually halted, 2,363 NFTs had been sold. At this point, the price tag then surged on secondary markets as it became clear that supply was capped low, and the cheapest that a Porsche NFT could be picked up for rose, for a short time, to over 3 <a href="https://www.financemagnates.com/tag/ethereum/" target="_blank" rel="follow">ETH</a> or more than triple the mint cost.</p><p> While this was all unfolding, Porsche was taking heavy criticism for overpricing its launch and misunderstanding the ways in which web3 distinguishes itself from traditional models. Currently, a key concept around NFTs is the idea of onboarding users cheaply, or even for free, and then building out an engaged community, but Porsche didn’t take that route.</p><p>This story reveals how critical it is for brands to fully immerse themselves in the ideals of web3 and NFTs, including all the quickly evolving idiosyncrasies, before pushing ahead with a launch. After all, that early period when NFTs were camped out on the crypto fringes is not so long ago, and there is an understanding in the NFT space that culture and community are paramount.</p><p> What we also see is how rapidly, and with abrupt volatility, an NFT project can turn around. In this case, by halting the mint, the tokens suddenly became prized for their scarcity and the floor price soared. What’s more, while Porsche’s brand presence made it a target for criticism, that presence fueled instant demand when the supply was cut.</p><p> Perhaps one more thing we can take away is that NFTs and the broader web3 environment are fickle places in which sentiment can switch rapidly. There’s a unique mindset, distinctive customs and culture, and an ingrained aversion to more traditional ways of doing business.</p> This article was written by Sam White at www.financemagnates.com.
Source : Finance Magnates
7 days ago

Crypto Platform Luno Sheds 35% of Workforce

<p>Luno, the digital assets <a href="https://www.financemagnates.com/terms/e/exchange/" class="terms__main-term" id="b5da6e64-2afe-421d-9b81-16404b7d59d6" target="_blank">exchange</a> based in London, announced a massive workforce reduction yesterday, feeling the harmful effects of the prolonged crypto winter and turbulence in the technology industries.</p><p>Luno Cuts Massive Part of Its Team</p><p>According to Wednesday's statement, Luno decided to lay off 35% of its current staff, translating to more than 300 professionals in all regions where the crypto exchange is currently operating. The London-based company runs other offices in Cape Town, Johannesburg, Lagos, Singapore and Sydney.</p><p>"2022 has been an incredibly tough year for the broader tech industry and, in particular, the crypto market. Luno, unfortunately, hasn't been immune to this turbulence, which has affected our overall growth and revenue numbers," Marcus Swanepoel, the Co-Founder and CEO of Luno, wrote in a statement on the company's blog.</p><p>Luno says it anticipated the industry downturn and was adjusting its business model to make it resilient to unfavourable factors. However, the speed of negative changes has put considerable strain on the original plan and proved inadequate. Consequently, the company has been forced to reduce the cost base and focus on the core business. Luno reassures that there is no impact on the liquidity of the existing business and the exchange's customers.</p><p>"Thanks to those who have helped us get this far, and also to those who will continue to drive forward our critical mission of putting the power of crypto into everyone's hands," Swanepoel concluded.</p><p>Watch the recent FMLS22 panel on crypto market structure.</p><p>Digital Currency Group Says Goodbye to 500 People</p><p>Cryptocurrency exchange Luno is part of the Digital Currency Group (DCG) portfolio, which includes CoinDesk, a cryptocurrency website, HQ Digital, an asset management company and Genesis, a failed cryptocurrency lender. </p><p>DCG slashed its workforce by 13% at the beginning of the year, cutting 66 full-time positions. Another 115 jobs were slashed in two rounds of layoffs at Genesis Global Trading. Subsequently, <a href="https://www.financemagnates.com/cryptocurrency/crypto-lender-genesis-files-for-bankruptcy-in-new-york/" target="_blank" rel="follow">the company filed for</a> <a href="https://www.financemagnates.com/terms/b/bankruptcy/" class="terms__secondary-term" id="41b3ef0d-d805-441d-8443-121890264e94" target="_blank">bankruptcy</a> protection.</p><p>HQ Digital ceased operations in January 2023, which could affect the position of at least 26 people, according to LinkedIn data.</p><p>In the meantime, Coindesk is reportedly for sale, which would help DCG raise additional funds to survive the current cryptocurrency winter, which was reported by The Wall Street Journal on January 18. Interest in buying the portal was confirmed by its CEO, Kevin Worth.</p><p>Luno Joins the Crypto Layoff Wagon</p><p>The problems of Luno and DCG as a whole are not isolated. Finance Magnates has repeatedly reported about plans of a number of digital asset companies to downsize over the past few weeks.</p><p>Gemini exchange <a href="https://www.financemagnates.com/cryptocurrency/third-times-the-charm-gemini-cuts-its-workforce-once-again/" target="_blank" rel="follow">announced its third round of job cuts</a>, in which it wants to reduce its workforce by 10%. Previously, the workforce was shed in June and July when Gemini laid off roughly 17% of its professionals.</p><p>Last week, a cryptocurrency software company ConsenSys <a href="https://www.financemagnates.com/cryptocurrency/consensys-joins-crypto-layoffs-with-11-workforce-cut/" target="_blank" rel="follow">announced a similar decision</a>. It confirmed its intention to reduce its current workforce by 11%, which translates into 100 full-time positions. Earlier, Coinbase, one of the largest cryptocurrency exchanges by volume, <a href="https://www.financemagnates.com/cryptocurrency/binance-hires-when-coinbase-cuts-employment-amidst-crypto-winter/" target="_blank" rel="follow">shared plans to lay off 20%, or 950 people</a>.</p><p>The reason for cost-reducing and job-cutting is usually the same: a prolonged cryptocurrency winter, falling prices of major assets, and declining confidence in the industry after the collapse of <a href="https://www.financemagnates.com/cryptocurrency/ftx-the-rise-the-fall-and-the-reaction/" target="_blank" rel="follow">FTX in November</a> and the failure of <a href="https://www.financemagnates.com/cryptocurrency/where-is-bitcoin-heading-following-terra-luna-turmoil/" target="_blank" rel="follow">Terra in May</a>.</p> This article was written by Damian Chmiel at www.financemagnates.com.
Source : Finance Magnates
9 days ago

What Is Tokenomics and Why Is It Important?

<p class="MsoNormal">Tokenomics combined the words ‘token’ and ‘economics’ in reference to the token’s economics. </p><p class="MsoNormal">A crypto token is in its very essence a crypto coin that is based on a blockchain platform, and which can be exchanged with <a href="https://www.financemagnates.com/cryptocurrency/south-africa-mandates-risk-warnings-in-crypto-ads/" target="_blank" rel="follow">another blockchain</a>, thus providing several incentives for investors to hold it.</p><p class="MsoNormal">The term points to all of the token’s features and qualities which make it interesting from an investor’s point of view.</p><p class="MsoNormal">Each crypto token should have its tokenomics thoroughly explained in its project’s whitepaper, meaning that by reading it you should grasp the token’s functionality, objective, purpose, allocation policies, and other pertinent info about it.</p><p class="MsoNormal">Since you are about to invest in a token, especially if you are very early on in the project, you will most likely be looking at it through the lens of the project’s backer. </p><p class="MsoNormal">Accordingly, there are 4 key elements which you should be taking into consideration as far as tokenomics go.</p><p class="MsoNormal">Tokenomics Explained</p><p class="MsoNormal">Allocation and Distribution</p><p class="MsoNormal">As an investor, you will need to understand just exactly the token being distributed. The two most common ways in which tokens are generated are by either being released via fair launch or being pre-mined. </p><p class="MsoNormal">Pre-mining happens when a predetermined number of tokens are generated and distributed before going public. </p><p class="MsoNormal">They usually tend to go to project developers, team members, early investors, and so forth, meaning only strictly exclusive addresses get them at first.</p><p class="MsoNormal">Opposite to a pre-mining event is what is known as a fair launch. A fair launch happens when crypto is mined, owned, earned, and also governed by its community without having early access granted to any particular party or private allocations happening before going public.</p><p class="MsoNormal">Pre-mining is tendentially more popular amongst most crypto projects, which means that before investing, one should see if there happens to be any wallets hoarding a significant number of tokens which might greatly impact the token’s price if dumped into the market.</p><p class="MsoNormal">On the other hand, if an early project seems to be distributing tokens to a significant number of participants as means of ensuring its future development, that might be a good signal.</p><p>Supply </p><p>A token’s supply is usually looked at in three different ways: </p><ul><li>The token’s circulating supply corresponds to the number of tokens which have been issued up to the point of one’s analysis and are circulating at the time.</li><li>The token’s total supply corresponds to the number of tokens which exist at the time (excluding all which were or might have been burned).</li><li>The token’s max supply is the maximum number of tokens which can ever be created. In some cases, you will run into tokens without a determined max supply. </li></ul><p>If the circulating supply of a given token is seen to be consistently and regularly increasing by its developers, chances are that its value is bound to go up. </p><p>Opposite to that logic is when an overwhelming number of tokens get released with a seemingly abusive frequency.</p><p>Market Cap</p><p>Looking at a given token’s market capitalization will tell you the entire amount of funds which have been invested in it. </p><p>In tandem, remember to check its fully diluted market cap because that, in turn, will tell you theoretically what the token’s market cap might look like if its max supply was already in circulation.</p><p>A token with a high market cap and low circulating supply could be a hint that it might be more valuable in the future.</p><p>Inflationary or Deflationary? </p><p>It is of the utmost importance that you are aware of the token’s model. </p><p>An inflationary token will not have a max supply and, much like fiat money, can be produced throughout time.</p><p>On the other hand, a deflationary model will have a max supply set, and its max cap is guaranteed to be upheld.</p><p>Wrapping up</p><p>By looking at these 4 elements, you can begin to understand just what the project is and where it might be heading.</p><p>Understanding tokenomics is quintessential to one’s strategy as a long-term crypto investor (or project backer if you prefer to see it that way) because the factors which mold a token will certainly affect the way it behaves and is seen by the community.</p> This article was written by Pedro Ferreira at www.financemagnates.com.
Source : Finance Magnates
7 days ago

VCs Not Interested in Blockchain Anymore as Funding Almost Stopped

<p>The second half of 2022 brought a visible slump in investments from VCs (venture capitalists) across all significant blockchain industry sectors, according to the newest report published by Cointelegraph Research.</p><p>Although the value of funding raised for the entire year was greater than $5 billion, which was higher than in 2021, there was a significant slowdown between June and December. Specifically, in the last three months of the year, funding came in at only $2.3 billion and dropped to $660 million in December.</p><p>Blockchain Investments Down in H2 2022</p><p>The report categorizes the blockchain industry into five main sectors: centralized finance (CeFi), decentralized finance (DeFi), infrastructure, Web3 and nonfungible tokens (NFTs). In the first half of the year, funding tallied at $30 billion, which is almost as much as the entire year of 2021. </p><p>When it looked like the record-breaking figure would be doubled, the crypto winter and the collapse of more crypto-oriented businesses made VCs less keen to invest their funds. As a result, the total amount raised in H2 2022 was $7.23 billion, slipping progressively more each month, as shown in the chart below.</p><p>Web3 Was the Most Active Part of the Blockchain Industry</p><p>The number of transactions in the fourth quarter fell to 182, and only five exceeded $100 million. Within this group, investments in the Web3 sector, which includes Metaverse and GameFi, proved to be the most popular. In contrast, the least common were investments in NFTs and CeFi.</p><p>Throughout 2022, the <a href="https://www.financemagnates.com/tag/web3/" target="_blank" rel="follow">Web3 sector</a> accounted for 616 deals, while CeFi accounted for only 201. Interestingly, the value of funding was the same at $9.2 billion for both. Also, the average transaction for Web3 was valued at $15.4 million, while in CeFi, it was estimated at $45.6 million.</p><p>DeFi attracted $3.1 billion in 299 deals and NFTs $3 billion in 243 sales. The infrastructure sector proved to be the most profitable; of the 295 financing deals completed, companies managed to raise almost $12 billion in capital, which is an average of $40.1 million per deal.</p><p>The data was confirmed <a href="https://www.financemagnates.com/cryptocurrency/web3-startups-funding-falls-7b-in-q4-2022/" target="_blank" rel="follow">in a separate report by Crunchbase</a>. It showed that funding for Web3 startups fell by almost $7 billion in Q4 2022, from $9.3 billion to $2.4 billion. Despite the drastic descent in the latter part of the year, the entire year of 2022 turned out to be quite positive for Web3 companies.</p><p>Watch the recent FMLS22 panel discuss back-office technology in the fintech business.</p><p>Fintech Funding Falls Along with Blockchain Investments</p><p>It is not only blockchain startups and young companies that have suffered in 2022, but also the broader financial technology (fintech) sector. <a href="https://www.financemagnates.com/fintech/fintech-funding-falls-30-worldwide-to-95b/" target="_blank" rel="follow">According to Innovative Finance</a>, global support for the <a href="https://www.financemagnates.com/terms/f/fintech/" class="terms__secondary-term" id="891edcf3-475e-45f3-a8b8-3ba2e7d37339" target="_blank">fintech</a> sector has shrunk to $95 billion, or by 30%. The number of completed transactions fell by almost 1,000 to 5,263.</p><p>The UK <a href="https://www.financemagnates.com/tag/fintech/" target="_blank" rel="follow">fintech </a>industry was more resilient to adverse conditions. In the UK, the value of funding lessened by only 5% to $10.2 billion.</p><p>"London's fintech industry has consistently proven itself to be both robust and ambitious in the face of economic challenges. As businesses brace for a turbulent 2023, fintech firms can play a vital role. Our industry can and will bounce back quickly, driving growth, job creation and enabling businesses to reach their full potential," Khalid Talukder, the Co-Founder of DKK Partners, said.</p> This article was written by Damian Chmiel at www.financemagnates.com.
Source : Finance Magnates
8 days ago

Crypto Trojan Horses

<p>A Trojan Horse is an object that looks inviting or desirable but is used to smuggle in something hidden that the receiver wouldn’t otherwise have accepted.</p><p> In the world of crypto, Bitcoin’s price action has been referred to as a Trojan Horse. In this case, buyers are first attracted by the digital currency’s historically rising prices, but by holding and trading coins buyers unknowingly legitimize and organically promote Bitcoin. Thus, its true benefits, decentralization, a fixed supply and freedom from central planners, are further disseminated.</p><p> Recently, we see not only Bitcoin but other aspects of the crypto world being normalized and advanced into the mainstream, through what is growing into a diverse band of Trojan Horses, each representing a different blockchain purpose.</p><p>Crypto through Art</p><p>Go back a few years, and you wouldn’t have found many people predicting that crypto technology might be picked up for consumption through its tie-ins with the art world, but that is exactly what has been occurring.</p><p>In the world of digital art, a critical component of <a href="https://www.financemagnates.com/tag/nfts/" target="_blank" rel="follow">NFTs</a> is that they enable ownership and scarcity. There was a period, when NFTs were enjoying an initial boom, in 2021, in which cynics proclaimed them to be pointless since it was possible to simply right-click on an NFT, and then save the image to one’s own computer for free.</p><p> Ironically, digital copying was one of the precise problems that NFTs solved. While online images are endlessly replicable, there could now, through NFTs, be a definitive original: a token to which the artist had deliberately attached his work, and which was verifiable, collectible, and easily tradable. Such collecting and trade had always been possible with physical art, and now it was viable in the digital realm too.</p><p> Was it still possible to make copies? Of course, but it’s also possible to make copies of physical art, and that’s rarely a problem: original artwork suffers no loss of integrity or value due to the existence of copies. And now, through NFTs, these realities are applied to digital art just as they did to physical art.</p><p> Through the provision of on-chain provenance and by enabling digital art markets (which are, arguably more easily accessible and less elitist than traditional art markets, an unlikely arena) of artistic creativity, it is suddenly profitable to make use of the blockchain utility.</p><p>Check out this recent FMLS22 session on NFTs for Fintechs.</p><p>Crypto through Gaming</p><p>To date, the highest profile crypto-gaming project has been Axie Infinity, which averaged two million monthly players at the end of 2021 and ran through to around the middle of 2022. However, user numbers have since collapsed, and the product has been criticized for being not much more than a Ponzi-tilted means to grind out profits during a bull market, dressed up as a game.</p><p>As such, crypto has yet to prove itself as substantially beneficial to the gaming world, but it looks simply to be a matter of time before a sustainable, high-quality product emerges, with a number of web3 gaming studios working on new releases. Currently, all eyes are on a web3 gaming company called Limit Break, and its DigiDaigaku project.</p><p> In February, Limit Break will release a set of DigiDaigaku gaming NFTs, with buyers needing to scan a QR code that will be shown in a commercial during the upcoming Super Bowl. This is about as high profile as a promotion/distribution campaign can get, and may be an indicator of the kind of presence that web3 gaming can achieve.</p><p> It’s an approach that unapologetically utilizes NFTs to create community and hype while remaining cognizant that games themselves are the end purpose, and if it can be pulled off, then it promises, as with NFTs related to art, to open up <a href="https://www.financemagnates.com/tag/blockchain/" target="_blank" rel="follow">blockchain</a> benefits to new users.</p><p>Creating Web3 and the Metaverse</p><p>The uses outlined here are interlinked sections of a novel arena. Art and design, gaming, commerce, and online social interactions are combining, with crypto at their core, to create a new environment, held together by the capacity to exchange value without third parties.</p><p>Due to the importance of blockchains within this structure, and the payments these layers enable, this emerging edifice ushers in <a href="https://www.financemagnates.com/tag/crypto/" target="_blank" rel="follow">cryptocurrencies</a> almost under the radar, and links closely to decentralized financial applications, which themselves buzz with speculative activity.</p><p> Nowhere else, other than in crypto, is there such a mixed-up blend of influences and backgrounds, in which discussion of yield farming and tokenomics overlaps with chatter about art, anime and AI imagery. Throw in programmers, poets and fashionistas, not to mention entrepreneurs and VCs, bundle the whole package up with some out-and-out opportunists, and it’s a guessing game as to where this ride might take us.</p><p> Furthermore, factor in the as-yet-undefined impact that Machine Learning seems poised to create, and the future becomes even more unpredictable and open to rapid transformation.</p><p> What seems likely is that all walks and disciplines stand to be influenced by and, to varying degrees, onboarded into crypto in some form. Perhaps, in the end, this emerging space, and the transaction methods it enables, is what we will come to call <a href="https://www.financemagnates.com/tag/web3/" target="_blank" rel="follow">web3</a> or the metaverse.</p><p> Some people expect a tech utopia, while others make more skeptical predictions, but most likely, as with almost all things, the reality will lie somewhere down the middle: an open, ownable, and ever-changing web that outputs a real-time reflection of what we, the users, put in.</p> This article was written by Sam White at www.financemagnates.com.
Source : Finance Magnates
8 days ago

BlockFi Has $1.2 Billon FTX, Alameda Exposure

<p>Bankrupt crypto lending platform, BlockFi has mistakenly uploaded uncensored financial information, revealing its exposure to $1.2 billion to the now-collapsed FTX and Alameda Research, <a href="https://www.financemagnates.com/cryptocurrency/blockfi-sues-sam-bankman-fried-over-robinhood-stock-collaterals/" target="_blank" rel="follow">two companies owned by Sam Bankman-Fried</a>.</p><p>BlockFi's $1.2 Billion Exposure to FTX and Alameda</p><p>As reported by CNBC, previously redacted financials of the crypto lending platform were mistakenly uploaded on Tuesday without the redactions being present in a financial presentation assembled by M3 Partners, an advisor to the creditor committee.</p><p>The unredacted filings show that BlockFi has $415.9 million in assets linked to FTX and $831.3 million in loans to Alameda as of 14 January. These figures are much higher than previous public disclosures.</p><p>Earlier, BlockFi's lawyers revealed that the bankrupt crypto lender only had a $671 million loan to Alameda and an additional $355 million in digital assets frozen on the FTX platform. It is to be noted that the value of digital assets has climbed since that disclosure, but it is far from the figures in the unredacted filings.</p><p>Check out the latest FMLS22 session on "Digital Assets’ Marketing Under A Magnifying Glass."</p><p>BlockFi Is Bankrupt</p><p>BlockFi, which <a href="https://www.financemagnates.com/cryptocurrency/crypto-lender-blockfi-files-for-bankrupty-protection-in-the-us/" target="_blank" rel="follow">filed for Chapter 11 bankruptcy</a> in November, offered interest-bearing crypto-lending products to customers. It had 662,427 users, of which around 73 percent had a balance below $1,000. In addition, the company only generated a revenue of $14 million in six months before its bankruptcy filing.</p><p>The crypto company had $302.1 million in cash and $366.7 million in digital assets, with total unadjusted assets of about $2.7 billion.</p><p>After Bankman-Fried's FTX empire collapsed, BlockFi's Founder and Chief Operating Officer, Flori Marquez, assured that "all BlockFi products are fully operational." However, the platform <a href="https://www.financemagnates.com/cryptocurrency/blockfi-halts-withdrawals-citing-lack-of-clarity-on-ftx-situation/" target="_blank" rel="follow">halted withdrawals</a> within a couple of days, followed by a bankruptcy filing.</p><p>The troubles of BlockFi started in mid-2022 with its exposure to collapsed crypto-focused hedge fund Three Arrows Capital. Then, FTX wrote a $400 million revolving credit facility to the crypto lending company as a part of a rescue plan.</p><p>Furthermore, the recent financials show that BlockFi adjusted the value of both the receivable Alameda loan and the assets connected to FTX to zero. The company has a gap of $1.3 billion in assets. However, it has only $668.8 million that are liquid and can be distributed.</p> This article was written by Arnab Shome at www.financemagnates.com.
Source : Finance Magnates
2 days ago

6 Consensus Mechanisms You Need to Know

<p class="MsoNormal">Understanding what consensus mechanism are and what they do can be a difficult task for those not in touch with blockchain technology. </p><p class="MsoNormal">However, as you get involved with specific coins, you will certainly need to understand how things operate behind the scenes and how proof of work, proof of stake, and many other mechanisms work, so let’s get to it!</p><p class="MsoNormal text-align-start">Afterall, if you want the dough to rise, you'll need proofing.</p><p>What Are Consensus Mechanisms?</p><p class="MsoNormal">Consensus mechanisms can greatly vary in form but must always achieve, as the name clearly puts it, consensus.</p><p class="MsoNormal">As such, and to put things in simpler terms, a consensus mechanism is a fancy way of saying “this is the way we are going to do things to make sure everyone is on the same page.”</p><p class="MsoNormal">In turn, when applying that concept to the blockchain and cryptocurrencies, it means that people agree on the state of blockchain, a state which can include individual transactions, data, smart contracts, and so forth. </p><p class="MsoNormal text-align-start">While some people tend to focus on the <a href="https://www.financemagnates.com/cryptocurrency/education-centre/proof-of-stake-vs-proof-of-work-the-differences-explained/" target="_blank" rel="follow">2 biggest ones</a>, there are many other different models of achieving consensus.</p><p class="MsoNormal">As such, by knowing these 6, even if just briefly, you will certainly get a clearer picture of how all the big coins are handling things.</p><p>Proof of Work (PoW) </p><p class="MsoNormal">Arguably the most famous consensus mechanism, the proof of work mechanism, is employed by Bitcoin.</p><p class="MsoNormal">The main idea behind proof of work is to use a computer to prove that it put in a lot of work and, the more work you put in, the better the chances of winning a block reward. </p><p class="MsoNormal">Anyone can participate with his or her computer, but the more powerful computers one has, the more likely they are to win blocks. </p><p class="MsoNormal">One of the main reasons for proof of work works so well is that if one wanted to attack the network to, for example, give him or herself free tokens, he or she would then have to control 51% of all the computer power, making it nigh impossible to do so as trillions of dollars would be necessary to achieve such a feat.</p><p>Proof of Stake (PoS) </p><p class="MsoNormal">The easiest way of conveying the difference between the Proof of Work and the Proof of Stake mechanisms is that in PoW competition makes it so that only the one who crosses the finish line gets his or her reward, while in PoS only one participant gets chosen. </p><p class="MsoNormal">This makes it so that when dealing with the PoW consensus mechanism one must consider that participants who are putting their work in may simply not get anything in return, making it very similar to a luck game. </p><p class="MsoNormal">When comparing these two mechanisms, one can easily see that Proof of Stake keeps its energy consumption to a minimum. </p><p class="MsoNormal">As for the 'stake' part, in order to participate, one must stake a predetermined number of coins which you have to lock up to inform and allow the network to select him or her. </p><p class="MsoNormal">The more you stake, the more likely you are to be selected for the next block.</p><p class="MsoNormal">Locked up tokens can be taken away from participants if bad misconduct or mischief is found. As such, participants are greatly incentivized not to lie. </p><p>Delegated Proof of Stake (DPoS) </p><p class="MsoNormal">Very similar to PoS, but instead of anyone becoming a validator, he or she can use their coins to vote on someone else to become one. </p><p class="MsoNormal">By doing so, a person who might not have a stable internet connection or a round-the-clock working computer can still lock up their coins, vote on someone who has better conditions, and earn staking rewards without having to set up a validator node.</p><p class="MsoNormal">The DPoS thus achieves democracy on the blockchain as delegators trust that people will vote on their behalf. Moreover, this way, validators are ensured to be reputable and trustworthy.</p><p>Proof of Space and Time (PoST)</p><p class="MsoNormal">Also known as Proof of Capacity, the PoST is a consensus mechanism which uses digital storage space as a requirement to participate in the network. </p><p class="MsoNormal">In short, these models set up a way to put information or encrypted data on participants' hard drives and will periodically and randomly check to see if it is still there.</p><p class="MsoNormal">Participants are paid in the network’s native coin for their work in storing data.</p><p>Proof of Weight (PoWeight)</p><p class="MsoNormal text-align-start">The PoWeight considers some value of weight as a means of attributing rewards. It can ponder on things, such as how many coins a user has in his or her wallet, how long he or she has them, how much data are they storing, and so forth.</p><p>Proof of Authority (PoA)</p><p class="MsoNormal">The PoA consensus mechanism, also known as proof of reputation, is derivative of the proof of stake mechanism. </p><p class="MsoNormal">However, participation isn’t open to anyone who wishes to do so. Instead, the PoA method only employs a few select nodes. These are reliable, trustworthy nodes which aren’t usually anonymous.</p><p>Wrapping up</p><p class="MsoNormal">As William Golding once wrote in the classic novel Lord of the Flies: “We need an assembly, not for cleverness, but for setting things straight.”</p><p class="MsoNormal">As you’ve probably figured out, the consensus mechanism somewhat does both things as it is a very clever way of setting things straight. </p><p class="MsoNormal">Accordingly, if you understand how each mechanism works, you’ll be much better able to navigate through blockchain tech and cryptocurrency overall. </p> This article was written by Pedro Ferreira at www.financemagnates.com.
Source : Finance Magnates
1 days ago

Inflows into Crypto Investment Products Hit Highest since FTX Collapse

<p>The average weekly inflows into digital asset-based investment products reached $36.8 million in January, which is the highest since the collapse of the once-leading crypto exchange, FTX, in November last year. The new height comes months after <a href="https://www.financemagnates.com/cryptocurrency/troubled-ftx-files-for-bankruptcy-as-ceo-bankman-fried-resigns/" target="_blank" rel="follow">FTX’s bankruptcy</a> led to a crypto withdrawal frenzy.</p><p>CryptoCompare, a UK-based crypto market data provider, disclosed these numbers on Wednesday in its Digital Asset Management Review for January 2023. According to the data provider, the total assets under management (AUM) of digital asset investment products also improved by 36.8% month-over-month in January, reaching $19.7 billion. The firm noted the figure is the highest AUM on record since May 2022.</p><p>“The bullish sentiment was driven by liquidated short positions and a favorable macro environment, reflected in the most recent CPI announcement, which saw Bitcoin's price reach $23,000; its highest level since August 2022,” CryptoCompare explained.</p><p>However, despite the improvement, the AUM still falls “considerably” short of total assets under management posted in January last year. This comes as a result of the downtrend experienced in the crypto and traditional asset markets in 2022.</p><p>“In January 2023, average daily aggregate product volumes across all digital asset investment products saw a decent recovery, rising 30.0% to $72.5mn. Despite this, volumes are still 84.4% lower compared to January 2022 and 95.2% lower than the all-time high recorded in January 2021,” CryptoCompare explained.</p><p>Watch the recent FMLS22 session on the crypto market structure.</p><p>Grayscale Okay Despite Troubles at Genesis</p><p>According to data shared by CryptoCompare, Grayscale’s Bitcoin Trust (GBTC) continued to top the Bitcoin trust market in January as its assets under management increased by 38.4% to $14.5 billion month-over-month. GBTC is managed by Grayscale Investment, a digital asset manager and a subsidiary company of the Digital Currency Group (DCG).</p><p>Grayscale Investments’ bitcoin trust remains strong “despite the uncertainty surrounding Genesis Trading," CryptoCompare said. In mid-November, the crypto lender Genesis Global Capital, which is owned by DCG, faced a 'liquidity crunch' and <a href="https://www.financemagnates.com/cryptocurrency/crypto-lender-genesis-files-for-bankruptcy-in-new-york/" target="_blank" rel="follow">sought a $1 billion emergency loan</a>. However, over two weeks ago two lending subsidiaries of the firm <a href="https://www.financemagnates.com/cryptocurrency/crypto-lender-genesis-files-for-bankruptcy-in-new-york/" rel="follow" target="_blank">filed for bankruptcy protection </a>before a Manhattan court.</p><p>In addition, the crypto exchange Gemini is <a href="https://www.financemagnates.com/cryptocurrency/winklevoss-feud-with-genesis-leads-to-earn-users-class-action-request/" target="_blank" rel="follow">battling with Genesis</a> over the payment of a $900 million debt under the Gemini Earn programme. Moreover, three Gemini Earn customers recently <a href="https://www.financemagnates.com/cryptocurrency/winklevoss-feud-with-genesis-leads-to-earn-users-class-action-request/" target="_blank" rel="follow">filed a class action arbitration request</a> against Genesis for allegedly failing to return Gemini Earn users’ assets. Compounding the situation, the US Securities and Exchange Commission recently <a href="https://www.financemagnates.com/cryptocurrency/sec-takes-gemini-genesis-to-court-for-selling-unregistered-securities/" target="_blank" rel="follow">charged both Gemini and Genesis</a> for allegedly selling unregistered securities.</p><p>“Despite the growth in assets under management and trading volume, the discount associated with Grayscale’s GBTC Trust has only slightly narrowed. The situation remains delicate, as Grayscale faced challenges with the bankruptcy announcement of its sister company Genesis due to exposure to FTX in January, and the ongoing lawsuit against the SEC to convert its Bitcoin Trust into an ETF,” CryptoCompare explained.</p> This article was written by Solomon Oladipupo at www.financemagnates.com.
Source : Finance Magnates
3 days ago

ASIC Had FTX Australia Under Surveillance Before Collapse

<p>The Australian financial market regulator ASIC was suspicious about the activities of the local subsidiary of FTX from at least six months before the collapse of the <a href="https://www.financemagnates.com/terms/c/cryptocurrency-exchange/" class="terms__main-term" id="601e2e5f-0c28-4253-9ad4-5e6b251ba2fa" target="_blank">cryptocurrency exchange</a> in November.</p><p>ASIC Had FTX Australia Under Surveillance</p><p>According to documents gathered by Guardian Australia, the Australian Securities and Investments Commission (ASIC) was concerned about the operations of FTX Australia, which obtained an Australian Financial Services (AFS) license by acquiring a local financial institution IFS Markets in December 2021. FTX Australia <a href="https://www.financemagnates.com/cryptocurrency/news/ftx-forms-australia-unit-to-offer-regulated-crypto-products-locally/" target="_blank" rel="follow">launched its services for Aussies</a> last March.</p><p>The takeover of an existing AFS license holder allowed FTX Australia to sidestep extensive scrutiny of the regulator. <a href="https://www.financemagnates.com/cryptocurrency/asic-suspends-ftxs-afs-license/" target="_blank" rel="follow">ASIC suspended FTX Australia’s AFS license</a> after Sam Bankman-Fried’s larger FTX empire collapsed. </p><p>Additionally, FTX put its Australian companies under voluntary administration and now owes around $1 million to its customers which number around 3,000.</p><p>Check out Finance Magnates' interview with Sam Bankman-Fried before the FTX collapse.</p><p>Three ASIC Notices</p><p>The documents revealed that the Aussie regulator issued a Section 912C notice to the crypto exchange last March, the same month it launched local services, asking for information about its operations. With the notice, ASIC can check if the service provided by a company satisfies the regulator’s “fit and proper person test.”</p><p>Another document confirmed that ASIC issued three notices to FTX Australia before the collapse and put it under “surveillance activity.” Moreover, the Aussie regulator was concerned about the exchange in October, weeks before Bankman-Fried’s vulnerable FTX empire was exposed.</p><p>“Since March 2022, Asic [made] enquiries with FTX Australia about the financial products offered by FTX Australia. The issues raised included pricing, FTX Australia’s compliance with ASIC’s [contract for differences] product intervention order, and its onboarding of clients,” an ASIC spokesperson told the publication.</p><p>“ASIC’s review of these matters was ongoing as at the time that external administrators were appointed to the Australian FTX entities.”</p><p><a href="https://www.financemagnates.com/cryptocurrency/troubled-ftx-files-for-bankruptcy-as-ceo-bankman-fried-resigns/" target="_blank" rel="follow">FTX and more than 130 affiliates are now undergoing insolvency</a> in the United States. Bankman-Fired, who is now facing criminal charges, was replaced by John Ray as the CEO of FTX. Meanwhile, the bankruptcy administrators are trying to get control of $3.5 billion in cryptocurrencies belonging to FTX customers currently in control of the Bahamas financial market regulator.</p> This article was written by Arnab Shome at www.financemagnates.com.
Source : Wallet Invester
1592 days ago

Bitcoin $6692.560 – CryptoCurrency Trading Report – 24.09.2018 00:07

Hot news: These are the changes of the CryptoCurrency market in the last one hour.

Bitcoin is now leading the rank on the most popular digital currency in the trade market. It has an increase of 0.05% in its exchange rate from 6689.215 dollars now at 6692.560 dollars. Tether is next to the leading crypto Bit..

The post Bitcoin $6692.560 – CryptoCurrency Trading Report – 24.09.2018 00:07 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1592 days ago

Bitcoin $6687.450 – CryptoCurrency Trading Report – 24.09.2018 01:07

Hot news: Here we summon for you the changes of the market of CryptoCurrency from the last 60 minutes.

The number one cryptocurrency leader is Bitcoin, this data was fetched in the last hour. It has an decrease on its trade value to -0.2%, now at 6687.450 dollars from 6700.852. Tether is at the second positi..

The post Bitcoin $6687.450 – CryptoCurrency Trading Report – 24.09.2018 01:07 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1592 days ago

Bitcoin $6709.780 – CryptoCurrency Trading Report – 24.09.2018 02:07

Hot news: These changes have happened in the last hour.

Bitcoin was in the top position in the last hour, the exchange rate increases from 6689.711 dollars to 6709.780. This is a 0.3% recorded change. Bitcoin is followed by Tether, with a -0.07% tumble on its trade value in the last one hour, equivalent to 0..

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Source : Wallet Invester
1592 days ago

Bitcoin $6709.350 – CryptoCurrency Trading Report – 24.09.2018 03:07

Hot news: Here we summon for you the changes of the market of CryptoCurrency from the last 60 minutes.

Bitcoin was in the top position in the last hour, the exchange rate decreases from 6710.021 dollars to 6709.350. This is a -0.01% recorded change. Tether is at the second position next to Bitcoin, with a re..

The post Bitcoin $6709.350 – CryptoCurrency Trading Report – 24.09.2018 03:07 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1592 days ago

Bitcoin $6704.570 – CryptoCurrency Trading Report – 24.09.2018 04:07

Hot news: Now we show you the newest summary of 60 minutes.

Bitcoin is now leading the rank on the most popular digital currency in the trade market. It has an decrease of -0% in its exchange rate from 6704.570 dollars now at 6704.570 dollars. Bitcoin is seconded by Tether, in a 60 minutes time it has a drop..

The post Bitcoin $6704.570 – CryptoCurrency Trading Report – 24.09.2018 04:07 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1592 days ago

Bitcoin $6686.310 – CryptoCurrency Trading Report – 24.09.2018 05:07

Hot news: There were a lot of happenings in the last 60 minutes on the Crypto stock exchanges.

Bitcoin is listed as the most popular cryptocurrency in the market. In the last sixty minutes, it had an downswing of -0.19% on its trading price. This means from 6699.038 dollars now at 6686.310 dollars. Tether is..

The post Bitcoin $6686.310 – CryptoCurrency Trading Report – 24.09.2018 05:07 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1592 days ago

Bitcoin $6674.850 – CryptoCurrency Trading Report – 24.09.2018 06:07

Hot news: Here you can read the new CryptoCurrency report of the last 60 Minutes.

Bitcoin is leading the rank in the last hour as the most popular crypto currency in the trade market, with a recorded fall on its value of about -0.12% in the last hour with a current standing rate of 6674.850 dollars from 6682..

The post Bitcoin $6674.850 – CryptoCurrency Trading Report – 24.09.2018 06:07 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1592 days ago

Bitcoin $6640.360 – CryptoCurrency Trading Report – 24.09.2018 07:08

Hot news: Here we summon for you the changes of the market of CryptoCurrency from the last 60 minutes.

In the last hour, Bitcoin is leading the cryptocurrency rank. A fall in the exchange rate was seen from 6663.014 dollars to 6640.360 dollars a -0.34% change. Next to Bitcoin is Tether in the second position..

The post Bitcoin $6640.360 – CryptoCurrency Trading Report – 24.09.2018 07:08 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1592 days ago

Bitcoin $6668.000 – CryptoCurrency Trading Report – 24.09.2018 08:08

Hot news: The summaries of the last one hour are the followings:

Bitcoin is leading the rank on the most popular crypto-currency, it has an upsurge of 0.12% in its exchange rate, which means 6668.000 dollars from the 6660.008 dollars earlier. Tether is in the second position as Bitcoin leads the first spot. ..

The post Bitcoin $6668.000 – CryptoCurrency Trading Report – 24.09.2018 08:08 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1592 days ago

Bitcoin $6609.990 – CryptoCurrency Trading Report – 24.09.2018 09:08

Hot news: These changes have happened in the last hour.

In the last one hour Bitcoin is leading the record of among the most popular crypto-currency in the trading ecosystem, it has an decrease of -0.33% from its previous value from 6631.875 dollars now at 6609.990 dollars exchange rate. Next to Bitcoin is T..

The post Bitcoin $6609.990 – CryptoCurrency Trading Report – 24.09.2018 09:08 appeared first on CryptoCurrency Blog.

Source : CryptoNinjas
177 days ago

Crypto risk & intel platform Merkle Science extends its Series A to over $24M

Merkle Science, a predictive crypto risk and intelligence platform, today announced an extension of more than $19 million to its Series A funding round, this now brings the total raised to over $24 million. New investments will help accelerate the company’s growth and be used for expansion across the U.S. and Europe, as well as […]

The post Crypto risk & intel platform Merkle Science extends its Series A to over $24M appeared first on CryptoNinjas.

Source : CryptoNinjas
177 days ago

“Move-and-earn” app STEPN to utilize LINE Blockchain for the Japanese market

LINE, the Japanese corporation specializing in mobile technologies, announced today that LINE Xenesis and Find Satoshi recently concluded an MOU aiming to utilize LINE Blockchain in the localization of STEPN for the Japanese market. STEPN is a “move-and-earn” blockchain game that lets players earn crypto assets equivalent to the number of steps they’ve taken. Since […]

The post “Move-and-earn” app STEPN to utilize LINE Blockchain for the Japanese market appeared first on CryptoNinjas.

Source : CryptoNinjas
176 days ago

BitPay teams with Dosh to enable cashback rewards on crypto debit card

BitPay, the bitcoin and crypto payment processing platform, announced today that users of its BitPay Card will now be rewarded with automatic cashback rewards when swiping the card at thousands of retailers. Thanks to a new partnership with Dosh, when spending with the BitPay Card, users will see crypto cashback rewards add up directly in […]

The post BitPay teams with Dosh to enable cashback rewards on crypto debit card appeared first on CryptoNinjas.

Source : CryptoNinjas
176 days ago

Brazil payment app PicPay launches new crypto exchange service with Paxos technology

PicPay, a Brazil-based payment app, has announced will now allow its users to buy, sell and hold cryptocurrencies, in its first foray into the crypto market. Today, PicPay launches its cryptocurrency exchange service, which initially supports trading of Bitcoin and Ethereum, as well as USDP. The exchange is operated in partnership with Paxos, a blockchain […]

The post Brazil payment app PicPay launches new crypto exchange service with Paxos technology appeared first on CryptoNinjas.

Source : CryptoNinjas
175 days ago

New Serum powered DEX for Solana from Vybe Network launches

Today it was announced from the Serum community the launch of Vybe DEX, a data-driven trading interface powered by Serum’s central limit order book & matching engine, built by Vybe Network. Vybe Network is a data infrastructure solution that enables the Solana community to query, index, and share on-chain data to build web3 dApps and […]

The post New Serum powered DEX for Solana from Vybe Network launches appeared first on CryptoNinjas.

Source : CryptoNinjas
175 days ago

SynFutures plans to integrate with Router Protocol to improve multi-chain access

SynFutures, a decentralized derivatives exchange, announced today a new partnership with Router, a cross-chain protocol that enables fund transfer, asset swaps, and cross-chain applications. The projects will work together to expand their respective ecosystems and explore integration, taking a crucial step in SynFutures’ mission to become a multi-chain trading platform. Cross-chain, or blockchain interoperability, refers […]

The post SynFutures plans to integrate with Router Protocol to improve multi-chain access appeared first on CryptoNinjas.

Source : CryptoNinjas
175 days ago

Blocknative releases new tool to enable high-speed propagation of ETH transactions

Blocknative, a web3 infrastructure company, today launched the Transaction Distribution Network (TDN). This tool allows blockchain users to respond to pre-chain risks and opportunities faster than ever, ensuring each transaction has the best chance of getting into the next block. The result is better, more predictable outcomes when submitting or replacing transactions. TDN works by […]

The post Blocknative releases new tool to enable high-speed propagation of ETH transactions appeared first on CryptoNinjas.

Source : CryptoNinjas
174 days ago

Crypto exchange Kraken’s second reserves audit adds 5 new assets: USDT, USDC, XRP, ADA, and DOT

Kraken, the popular crypto exchange, has announced the results of its second 2022 Proof of Reserves audit, which has now been expanded beyond *BTC, and ETH* to include USDT, USDC, XRP, ADA*, and DOT.  *Indicates Proof of Reserves audit covered assets held both on Kraken’s spot exchange and Kraken’s staking platform. The addition of five […]

The post Crypto exchange Kraken’s second reserves audit adds 5 new assets: USDT, USDC, XRP, ADA, and DOT appeared first on CryptoNinjas.

Source : CryptoNinjas
98 days ago

Crypto services company Blockchain.com opens waitlist for new Visa debit card

Today, crypto services company Blockchain.com, announced the launch of its new Visa debit card. With the Blockchain.com Visa card, users can spend any crypto in their Blockchain.com Wallet without fees while earning 1% back in crypto on all purchases. Key Features: Works like a debit card – Pay from crypto or cash balances anywhere Visa […]

The post Crypto services company Blockchain.com opens waitlist for new Visa debit card appeared first on CryptoNinjas.

Source : CryptoNinjas
90 days ago

Crypto exchange company OKX secures registration in Bahamas, opens office in Nassau

OKX, one of the largest crypto exchanges by volume and a leading web3 platform, today announced its registration as a Digital Asset Business in The Bahamas under the newly adopted Digital Assets and Registered Exchanges (DARE) Act. The company has also formed a new subsidiary, OKX Bahamas, for which it appointed Dr. Jillian Bethel, a […]

The post Crypto exchange company OKX secures registration in Bahamas, opens office in Nassau appeared first on CryptoNinjas.

Source : CryptoNinjas
86 days ago

Solana-powered sports wagering platform BetDEX to launch ahead of World Cup

BetDEX Labs, the company behind BetDEX, a new sports betting exchange for peer-to-peer wagering, this week announced that the BetDEX Exchange will officially launch on the Solana mainnet on Thursday, November 17th, which coincides with the beginning of the 2022 World Cup. Just recently, BetDEX became one of the first licensed sports betting exchanges built […]

The post Solana-powered sports wagering platform BetDEX to launch ahead of World Cup appeared first on CryptoNinjas.

Source : CryptoNinjas
84 days ago

Pundi X’s on-chain payment app for merchants now called Cashier Pro, adds Tron

Pundi X, a blockchain payments startup, recently announced that its “On-chain payment” function within its XPOS crypto point-of-sale platform is now known as “Cashier Pro” and available for all merchants. Cashier Pro enables merchants to accept crypto payments from 3rd party blockchain wallet users across multiple blockchain networks, including Bitcoin Lightning Network, BNB Chain, Ethereum, and […]

The post Pundi X’s on-chain payment app for merchants now called Cashier Pro, adds Tron appeared first on CryptoNinjas.

Source : CryptoNinjas
84 days ago

HashKey Group receives approval to operate crypto exchange from Hong Kong SFC

Hash Blockchain Limited (HBL), a member of the HashKey Group (HashKey), a blockchain asset financial services group in Asia, announced today it has received approval from the Securities and Futures Commission of Hong Kong (SFC) to operate a virtual asset trading platform, under a Type 1 (dealing in securities) license and a Type 7 (automated […]

The post HashKey Group receives approval to operate crypto exchange from Hong Kong SFC appeared first on CryptoNinjas.

Source : CryptoNinjas
84 days ago

BlockFills launches end-to-end enterprise crypto trading technology stack

BlockFills, a company specializing in building trading and management solutions for cryptocurrency market participants, today announced the launch of Vision Crypto Cloud, a secure, full-service, end-to-end digital asset trading, order management, and risk management platform. The software-as-a-service (SaaS) platform enables institutions to quickly access the crypto ecosystem out of the box, without the multi-year timeline […]

The post BlockFills launches end-to-end enterprise crypto trading technology stack appeared first on CryptoNinjas.

Source : CryptoNinjas
79 days ago

Trust Wallet launches anticipated browser extension of its crypto management app

Trust Wallet, a self-custodial and multi-chain cryptocurrency wallet application, has announced the launch of its brand-new browser extension wallet. Supporting all EVM chains, as well as Solana, it is available now on browsers including Chrome, Brave, and Opera. The browser extension complements Trust Wallet’s mobile wallet, which is the world’s leading mobile crypto wallet with […]

The post Trust Wallet launches anticipated browser extension of its crypto management app appeared first on CryptoNinjas.

Source : CryptoNinjas
79 days ago

Biconomy releases new SDK for better crypto and blockchain development

Biconomy, a web3 development platform & toolkit that superpowers blockchain technology stacks, today announced it has launched a software development kit (SDK) to transform the way developers build easy-to-use decentralized applications (dApps). Since 2019, Biconomy has been engaged with the web3 infrastructure space by building easy-to-integrate, plug-and-play APIs for developers to scale their projects. The […]

The post Biconomy releases new SDK for better crypto and blockchain development appeared first on CryptoNinjas.

Source : CryptoNinjas
77 days ago

Crypto exchange Coinbase to support Easy Bank Transfers for UK users

Coinbase, the popular bitcoin & crypto exchange company, announced today it will be rolling out ‘Easy Bank Transfers’ for UK users. The new feature delivers an easy way to add funds to Coinbase accounts. Through a partnership with TrueLayer, one of Europe’s leading open banking platforms, Coinbase is able to support Easy Bank Transfers, which […]

The post Crypto exchange Coinbase to support Easy Bank Transfers for UK users appeared first on CryptoNinjas.

Source : CryptoNinjas
58 days ago

DFINITY brings new smart contract functionality to Bitcoin with Internet Computer integration

DFINITY Foundation, the not-for-profit organization contributing to the development of the Internet Computer (IC) — a high-speed, internet-scale public blockchain — has announced today the Internet Computer’s mainnet integration with Bitcoin, bringing smart contract functionality to the cryptocurrency. Now, the Internet Computer can serve as a layer-2 for Bitcoin where smart contracts on the Internet […]

The post DFINITY brings new smart contract functionality to Bitcoin with Internet Computer integration appeared first on CryptoNinjas.

Source : CryptoNinjas
56 days ago

Tenderly introduces TXN simulations on its blockchain gateway for efficient dApp development

Tenderly, creators of a blockchain development platform, today announced that it is the first web3 development platform to offer simulations through RPC on its Tenderly Web3 Gateway, the company’s production node as a service. Note, Tenderly already processes more than 50 million simulations per month through its Transaction Simulator. Now, the company is introducing the […]

The post Tenderly introduces TXN simulations on its blockchain gateway for efficient dApp development appeared first on CryptoNinjas.

Source : CryptoNinjas
51 days ago

Crypto derivatives exchange Deribit releases new client verification of assets tool

Deribit, the popular cryptocurrency derivatives exchange, announced today it has launched a new ‘Proof of Reserves‘ tool for clients using the trading platform. Now, clients are provided with the functionality to verify their assets to be included in Deribit’s overall reserves. How it Works Deribit provides all addresses for all on-chain assets and it delivers […]

The post Crypto derivatives exchange Deribit releases new client verification of assets tool appeared first on CryptoNinjas.

Source : CryptoNinjas
44 days ago

DeFi protocol Pods raises $5.6M to support its structured crypto products dApp

Pods, creators of a DeFi platform, announced today that earlier this year, the team raised $5.6M in seed funding to create structured products for crypto-assets. The financing featured investors such as IOSG, Tomahawk, Republic, Framework Ventures, and more. The first strategy on Pods Yield is stETHvv (Ethereum Volatility Vault). stETHvv is a low-risk product focused […]

The post DeFi protocol Pods raises $5.6M to support its structured crypto products dApp appeared first on CryptoNinjas.

Source : CryptoNinjas
28 days ago

Blockchain ecosystem ThunderCore teams with Huobi and MyCointainer in node expansion

ThunderCore, a leading blockchain & web3 ecosystem announced today that they are making a new development push, partnering with new validators as the chain rolls out its new crypto staking model. The newest ThunderCore validators include the famous crypto-asset exchange Huobi and one of the earliest staking platforms in the space, MyCointainer. Users of both […]

The post Blockchain ecosystem ThunderCore teams with Huobi and MyCointainer in node expansion appeared first on CryptoNinjas.

Source : CryptoNinjas
18 days ago

Crypto securitization platform GenTwo links to all Coinbase assets

GenTwo Digital, the crypto-asset securitization platform based out of Crypto Valley in Zug, Switzerland, today announced a partnership with Coinbase, the publicly-listed cryptocurrency platform. This new partnership for GenTwo Digital allows all Coinbase crypto assets to be wrapped in bankable financial investment products and enables financial intermediaries to issue certificates such AMCs (Actively Management Certificates). […]

The post Crypto securitization platform GenTwo links to all Coinbase assets appeared first on CryptoNinjas.

Source : CryptoNinjas
14 days ago

Crypto exchange Gemini launches new electronic OTC trading solution

Gemini, the popular bitcoin & crypto exchange company, today announced the launch of electronic over-the-counter trading (eOTC), an automated crypto trading solution designed for institutions. The Gemini eOTC solution offers a variety of advantages to institutional traders including: Competitive Pricing & Execution: Liquidity is sourced from top-tier liquidity providers with deep liquidity pools, enabling counterparties […]

The post Crypto exchange Gemini launches new electronic OTC trading solution appeared first on CryptoNinjas.

Source : CryptoNinjas
9 days ago

Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

Eventus, a provider of multi-asset class trade surveillance and market risk solutions, announced today that cryptocurrency derivatives exchange Deribit has chosen the firm’s Validus platform to provide market abuse monitoring on the exchange. Headquartered in Panama City, Panama, Deribit is one of the largest cryptocurrency options exchanges by volume and open interest, with approximately 90% […]

The post Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus appeared first on CryptoNinjas.

Source : Cointelegraph
1 days ago

Tiffany Fong flames Celsius, FTX and NY Post: Hall of Flame

Tiffany Fong stumbled into content creation and independent journalism after getting burned on the Celsius bankruptcy, moving forward she has no idea where this will lead.

Source : Cointelegraph
1 days ago

Bitcoin awaits Fed Powell speech as sellers cement $23.5K resistance

Bitcoin trades sideways at the Wall Street open as all eyes are on the Fed and Chair Jerome Powell.

Source : Cointelegraph
1 days ago

Bitcoin advocate Najah Roberts explains why BTC is a tool for empowerment

The Agenda podcast explores the concept of financial sovereignty, Black American empowerment and the promise of Bitcoin with the revolutionary Najah Roberts.

Source : Cointelegraph
1 days ago

Web3 could seize on the decades-old software-as-a-service business model

Web3 needs to set off toward new horizons to continue disrupting traditional industries, and B2B SaaS can enable that.

Source : Cointelegraph
1 days ago

Federal judge bars SBF from contacting FTX and Alameda employees via Signal

Sam Bankman-Fried could also be barred from accessing FTX and Alameda funds as part of his bail conditions, with a judge scheduled to discuss the matter in a Feb. 7 hearing.

Source : Cointelegraph
1 days ago

MakerDAO launches $5M legal defense fund

At its inception, the defense fund will receive a budget of $5 million held in the DAI stablecoin.

Source : Cointelegraph
1 days ago

Why is the crypto market down today?

The crypto market is down today as Bitcoin and stocks correct and investors await Powell’s comments on the size of the next interest rate hike and the health of the US economy.

Source : Cointelegraph
Added today

Price analysis 2/1: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, AVAX

Crypto traders are waiting for the result of today’s FOMC and it’s possible that the recent downside could reverse course if Jerome Powell’s statements hint at an improving U.S. economy.

Source : Cointelegraph
Added today

Meta gets court win in metaverse acquisition plans: Report

If the Federal Trade Commission doesn’t appeal the ruling, Meta will likely be able to acquire additional companies offering metaverse-related products or services.

Source : Cointelegraph
Added today

Retail giant Pick n Pay to accept Bitcoin in 1,628 stores across South Africa

Grocery retailer Pick n Pay is now accepting Bitcoin payments via the Lightning Network nationwide following a three-month testing phase.

Source : Cointelegraph
Added today

What is Solend and how does it work

Solend is a DeFi lending and borrowing protocol on Solana, noted for its high scalability and composability.

Source : Cointelegraph
Added today

US Treasury lists BTC, ETH addresses tied to Russian sanctions evasion group

The government department said it would impose “full blocking sanctions” on Jonatan Zimenkov and his crypto addresses due to his connections with a sanctions evasion network.

Source : Cointelegraph
Added today

Bitcoin bulls plan to flip $23K to support by aiming to win this week’s $1B options expiry

BTC bulls are positioned to win this week’s $1 billion options expiry, but the market’s post-FOMC reaction could alter their plans.

Source : Cointelegraph
Added today

New FTX documentary to spotlight SBF-CZ relationship

The documentary will examine the dynamic relationship between Sam Bankman-Fried and Binance founder Changpeng Zhao.

Source : Cointelegraph
Added today

Judge dismisses proposed class-action suit alleging Coinbase securities sales

The decision did not address the question of whether the 79 tokens in questions were securities, but dismissed claims based on the Securities and Exchange Acts.

Source : Cointelegraph
Added today

Ethereum's Shanghai fork is coming — but it doesn't mean investors should dump ETH

Ethereum’s Shanghai upgrade is tentatively set for March, which means approximately 14% of ETH supply will unlock in the year ahead.

Source : Cointelegraph
Added today

BonqDAO protocol suffers $120M loss after oracle hack

An oracle hack allowed the exploiter to manipulate the price of the AllianceBlock token, leading to an estimated $120 million loss, according to Peckshield.

Source : Cointelegraph
Added today

Bitcoin spikes above $24K as Fed chair Powell talks of ‘disinflation’

While the rate increase was expected by the markets and Jerome Powell indicated more increases will come, the market has reacted positively to the Fed chairman’s comments.

Source : Cointelegraph
Added today

Meta CEO Zuckerberg steadfast on metaverse plans despite $13.7B setback

During a Q4 earnings call, Mark Zuckerberg said he saw no reason to deviate from the company’s long-term metaverse strategy.

Source : Cointelegraph
Added today

72% of institutional traders are crypto-skeptical this year: JPMorgan

Of 835 institutional traders surveyed by JPMorgan, only 14% said they would either keep trading crypto in 2023 or had plans to do so this year.

Source : Cointelegraph
Added today

Bithumb owner arrested in South Korea over alleged embezzlement

The net is closing in on Bithumb executives as the suspected real owner of the exchange is arrested.

Source : Cointelegraph
Added today

Regulatory action against Mango Markets exploiter is a win for DeFi — Moody’s

The SEC and CFTC taking action against the alleged fraudster shows that decentralized finance is becoming a “safer and more welcoming environment,” according to credit rating firm Moody’s.

Source : Cointelegraph
Added today

Bitcoin Ordinals creator looks for fix after first instance of shock porn

A rather unsavory image made it to the front page of the Ordinals website for 30 minutes before it was hidden, however, the image itself is immutable.

Source : Cointelegraph
Added today

Voyager victim calls for trustee to seize control of the estate

The 120-page motion came from a creditor who asked for the appointment of a Chapter 11 trustee, citing alleged fraud and incompetence at Voyager.

Source : Cointelegraph
Added today

Bitcoin bulls must reclaim these 2 levels as ‘death cross’ still looms

BTC price upside depends on whether two long-lost moving averages can be flipped to support, Bitcoin analysis predicts.

Source : Cointelegraph
Added today

State of play: Decentralized domain services reflect on industry progress

Major decentralized domain services weigh in on the state of the industry and the potential for future growth.

Source : Cointelegraph
Added today

Bitcoin paints Nasdaq green as NCI index marks 38% gain in January

The bullish rise of Bitcoin and other altcoins in January helped the Nasdaq Crypto Index to register its third-highest monthly gain.

Source : Cointelegraph
Added today

HSBC needs someone to helm its tokenization efforts

According to a job posting, HSBC is looking for a candidate who knows of digital assets, especially asset tokenization and custody.

Source : Cointelegraph
Added today

Bank of China ex-advisor calls Beijing to reconsider crypto ban

The economist argued that the current crypto ban in China is beneficial in the short term, but big opportunities can be missed in the long run.

Source : Cointelegraph
Added today

Indian retail chain rolls out support for CBDC payments in stores: Report

Reliance Retail has implemented support for the digital rupee in its gourmet store line Freshpik.

Source : Bit Coin News
1 days ago

60 Organizations Launch Campaign Urging US Congress to Protect Privacy

On Wednesday, 60 organizations involved in cryptocurrencies, open-source and free software, and human rights and privacy-preserving projects launched a new campaign calling on the 118th U.S. Congress to protect privacy. The groups, including Fight for the Future, Electric Coin Co., and the Tor Project, insist that Congress needs to deliver policies dedicated to standing up […]
Source : Bit Coin News
1 days ago

Biggest Movers: LTC Races to 9-Month High, ATOM Extends Recent Gains

Litecoin raced to a nine-month high on Feb. 1, following a breakout of a key resistance level. The surge in price comes as the global cryptocurrency market cap rose marginally higher today, and is up by 0.57% as of writing. Cosmos was another notable mover, with prices up for a second straight session. Litecoin (LTC) […]
Source : Bit Coin News
Added today

Following APT’s 400% Rise Since Late December, Aptos Drops 20% From All-Time High 

On Jan. 26, 2023, the cryptocurrency asset aptos (APT) reached an all-time high and then lost 20% of its value over the next five days. In the past 24 hours, it also shed 8.3% against the U.S. dollar. Despite the decline from its all-time high, APT is still up 349% compared to last month’s exchange […]
Source : Bit Coin News
Added today

Federal Reserve Raises Benchmark Interest Rate by 0.25%, Disinflationary Process ‘Early,’ Says Powell 

Federal Reserve Raises Benchmark Interest Rate by 0.25%, Disinflationary Process 'Early,' Says Powell The U.S. Federal Reserve raised its benchmark federal funds rate by 0.25% on Wednesday after markets priced in near 100% certainty the Federal Open Market Committee (FOMC) would codify the quarter-point increase. The FOMC statement further detailed that ongoing rate increases are anticipated to bring inflation down to the target range of 2%. FOMC Outlines […]
Source : Bit Coin News
Added today

Britain Announces Plans for ‘Robust’ Crypto Rules, Launches Consultation

Britain Drafts ‘Robust’ Crypto Rules While Most Firms Don’t Meet AML StandardsThe U.K. has unveiled “ambitious plans” to “robustly regulate” various crypto activities, while seeking to protect customers and grow its economy. In the next three months, British authorities will accept public feedback on the new regulatory proposals designed to govern digital assets like traditional finance. British Government Sets Out to Regulate Crypto Market, Remains Committed […]
Source : Bit Coin News
Added today

London Crowned World’s Leading Cryptocurrency Hub, According to Study

According to research from Recap, a cryptocurrency tax software company, London has become the world’s leading hub for cryptocurrencies. The researchers analyzed eight indicators, including the number of cryptocurrency businesses and the quantity of cryptocurrency ATMs in each country. Key Findings of Recap’s Study on Global Cryptocurrency Hubs Crypto tax firm Recap released a research […]
Source : Bit Coin News
Added today

NFT Sales Soar: January 2023 Reaches Nearly $1 Billion in 30 Days With 41% Increase

NFT Sales Soar: January 2023 Reaches Nearly $1 Billion in 30 Days With 41% IncreaseNon-fungible token (NFT) sales increased 41.96% from the previous month, according to data recorded on Feb. 1, 2023. NFT sales reached nearly $1 billion in 30 days, with an approximate total of $997.53 million. Additionally, the number of digital collectible transactions rose more than 22% in the past month. Bored Ape Yacht Club Dominates, Ethereum […]
Source : Bit Coin News
Added today

Indian Government Introduces New Crypto Tax Penalties

Indian Government Introduces New Crypto Tax PenaltiesThe Indian government has introduced new crypto tax penalties, including for non-payment of crypto tax deducted at source (TDS). Much to the disappointment of the crypto community, Finance Minister Nirmala Sitharaman did not mention crypto in her Budget speech this year. Crypto income remains taxed at 30% while TDS stays at 1%. No Crypto Tax […]
Source : Bit Coin News
Added today

Chinese Economist Urges Government to Reconsider Crypto Ban — Warns of Missed Tech Opportunities

Chinese Economist Urges Government to Reconsider Crypto Ban — Warns of Missed Tech OpportunitiesAn economics professor and former adviser to the People’s Bank of China has urged the Chinese government to reconsider its ban on cryptocurrencies. He warned that banning crypto activities could result in missed opportunities that are “very valuable” to regulated financial systems. Chinese Economist Warns of Missed Opportunities Due to Crypto Ban A former adviser […]
Source : Bit Coin News
Added today

Nigerian Crypto Users and Enthusiasts Dismiss 100% BTC Premium Claims

Nigerian blockchain and crypto enthusiasts have said recent reports suggesting that local residents are paying a premium of almost 100% on top of the prevailing price of bitcoin “are totally false.” They argue that such reports are based on a claim that is being propagated by persons who do not fully grasp the dynamics in […]
Source : Bitcoin Magazine
Added today

Nostr Will Only Scale If It Can Incentivize Users To Run Relays

Nostr, a growing hub for the Bitcoin community, faces some incentives challenges if it’s going to reach significant scale.
Source : Bitcoin Magazine
Added today

LevelField Financial To Become First FDIC-Insured Bank to Offer Traditional Banking And Bitcoin Services

LevelField Financial is set to acquire Burling Bank in a move that would enable access to bitcoin for traditional banking customers.
Source : Bitcoin Magazine
Added today

U.K. Details Plan To Regulate Bitcoin, Cryptocurrency Industry

The United Kingdom has released its first consultation on crypto trading and lending regulation within the country.
Source : Bitcoin Magazine
1 days ago

South African Retail Giant Pick-n-Pay Now Accepts Bitcoin Payments At All Locations

Pick n Pay has partnered with CryptoQR in order to accept bitcoin at more than 2,000 stores.
Source : Bitcoin Magazine
1 days ago

Luxor Technologies Launches The First Bitcoin Mining ASIC Request-for-Quote Platform

Luxor has launched the first ever ASIC RFQ platform with the goal of maximized market transparency and access.
Source : Bitcoin Magazine
1 days ago

Can Artificial Intelligence Make The Bitcoin Rabbit Hole Easier To Explore?

As artificial intelligence tools become more powerful and accessible, can they help more people get a grasp on Bitcoin?
Source : Bitcoin Magazine
1 days ago

Decentralized ‘Twitter Killer’ Nostr Goes Live On Apple’s App Store

Nostr, an open protocol that promises to substitute centrally-controlled social networks such as Twitter, is now live on the Apple App Store with Damus.
Source : Bitcoin Magazine
1 days ago

No Policy Pivot In Sight: “Higher For Longer” Rates On The Horizon

The market is nearly unanimous in expecting a 0.25% rate hike during February's FOMC meeting, yet many expect a “pause” shortly thereafter. We beg to differ.
Source : Bitcoin Magazine
1 days ago

Ordinals Project Launches Enabling NFTs Directly On Bitcoin

The controversial project has been met with equal parts excitement and criticism in regards to its impacts on Bitcoin.
Source : Bitcoin Magazine
2 days ago

Fiat Ruins Work But Bitcoin Rewards Those Who Add Value

How have Big Tech companies laid off so many with no consequences to their operations? Because fiat incentivizes meaningless rent seeking.
Source : Bitcoin Magazine
2 days ago

Strike Launches Instant, Cheap Remittances For The Philippines Using Bitcoin Lightning

U.S. users of Strike can now use Send Globally to send instant, cheap remittances to loved ones in the Philippines.
Source : Bitcoin Magazine
2 days ago

ZEBEDEE And Stattrak Launch New Esports Fantasy Product With Bitcoin Rewards

Stattrak and ZEBEDEE have launched a new fantasy esports platform with real-money rewards in bitcoin for popular games.
Source : Bitcoin Magazine
2 days ago

The Four Worst Ways To Attack Bitcoin

In his latest book, Nouriel Roubini demonstrates the worst ways to try and attack Bitcoin.
Source : Bitcoin Magazine
2 days ago

Twitter Prepping For Payments, Could Include Bitcoin And Crypto: FT

Elon Musk’s Twitter is preparing to add payments functionality that could potentially include cryptocurrency, inside sources told the Financial Times.
Source : Bitcoin Magazine
2 days ago

Mastercard And Binance To Offer Bitcoin, Crypto Card In Brazil

The new bitcoin and crypto-backed prepaid Binance Card is coming to Brazil, one of the exchange’s largest markets.
Source : Bitcoin Magazine
3 days ago

A Presidential Visit To Madeira: Is This Island The Next Bitcoin Paradise?

On a visit to the Portuguese island of Madeira, a delegation of Bitcoiners surfed, met with the president and extended Bitcoin adoption.
Source : Bitcoin Magazine
5 days ago

Bitcoin Sellers Exhausted, Accumulators HODL The Line

Bitcoin supply-side dynamics and on-chain indicators look to be as strong as ever, but macroeconomic headwinds remain for legacy and risk assets.
Source : Bitcoin Magazine
6 days ago

Biden Administration Releases Roadmap To Mitigate Cryptocurrency Risks

The White House has unveiled a roadmap to reduce risks associated with the wider cryptocurrency industry.
Source : Bitcoin Magazine
6 days ago

Senator Ted Cruz Is Bringing Bitcoin To The Capitol With Vending Machines

The Texas Senator has introduced a resolution requesting Capitol vendors to accept bitcoin.
Source : Bitcoin Magazine
6 days ago

The Five Lessons I Learned From Ignoring Bitcoin For Years

Lessons from a HODLer fortunate enough to find Bitcoin after passing on the opportunity repeatedly since 2012.
Source : Bitcoin Magazine
6 days ago

POS Giant Clover Teams Up With Strike To Bring Bitcoin’s Lightning Network To Millions Of Merchants

A 90-day trial period kicks off Clover’s integration with the Bitcoin Lightning Network, enabling faster, cheaper payments at merchants.
Source : Bitcoin Magazine
6 days ago

BitPay Announces Partnership With MoonPay, Removes Bitcoin Trading Fees For Limited Time

BitPay’s partnership with MoonPay is set to offer a superior buyer experience for those looking to purchase cryptocurrencies on the BitPay platform.
Source : Bitcoin Magazine
7 days ago

Fiat Debases Belief, But Bitcoin Makes Us Human

Enslaving us with debt and inflation, the fiat system replaces sincerely-held beliefs. But Bitcoin gives us the chance to be human again.
Source : Bitcoin Magazine
7 days ago

Mt Pelerin Crypto Exchange Adds Support For Bitcoin Lightning Network

The Swiss cryptocurrency exchange will now allow deposits and withdrawals through the Lightning Network.
Source : Bitcoin Magazine
8 days ago

Arizona Senator Introduces Bill To Make Bitcoin Legal Tender In The State

A bill introduced by Sen. Wendy Rogers reflects growing interest in bitcoin from U.S. states.
Source : Bitcoin Magazine
8 days ago

Swiss Bitcoin App Relai Now Allows Companies To Buy Bitcoin

The new Relai Business over-the-counter service will allow businesses to purchase bitcoin quickly.
Source : Bitcoin Magazine
8 days ago

The Kazakhstan Mining Exodus Has Flipped Bitcoin To Clean-Energy Dominance

After Kazakhstan forced out Bitcoin mining operations, the majority of global hash rate is now produced with clean energy.
Source : Bitcoin Magazine
8 days ago

Blockstream Raises $125 Million For Bitcoin Mining Expansion

Led by Kingsway Capital, Blockstream has raised $125 million for the purpose of expanding their institutional mining services.
Source : Bitcoin Magazine
9 days ago

EU Lawmakers Vote To Impose Strict Capital Requirements On Banks Holding Bitcoin And Crypto

Banks would be allowed to hold 2% of capital in bitcoin, but required to have one euro in capital for every euro in cryptocurrency held.
Source : Bitcoin Magazine
9 days ago

World’s Largest Bitcoin ATM Software Platform Acquired By Bitstop Founders

Andrew Barnard and Doug Carrillo of Bitstop have announced the acquisition of Genesis Coin Inc.
Source : Bitcoin Magazine
9 days ago

After the Failure Of Their Stablecoin Experiment, Iran And Russia Will Inevitably Adopt Bitcoin

With their newly-announced stablecoin experiment doomed to fail, Russia and Iran will soon learn Bitcoin is the solution that they want.
Source : Bitcoin Magazine
10 days ago

Announcing “Hunting Sats,” A Bitcoin Wallet Cracking Contest

Shadowy super coders and sat stacking anons from all over the internet are welcome to try and crack a wallet containing millions of sats.
Source : Bitcoin Magazine
10 days ago

In 2023, Bitcoiners Must Stop Shooting (Or Blocking) The Messengers

As the New Year begins, Bitcoiners should take this opportunity to engage with constructive criticism.
Source : Bitcoin Magazine
12 days ago

Crypto Lender Genesis Files For Chapter 11 Bankruptcy

The embattled crypto lender has filed a slew of voluntary bankruptcy notices in order to restructure itself.
Source : Bitcoin Magazine
12 days ago

Mississippi, Missouri Lawmakers Introduce Bills To Protect The Rights To Mine Bitcoin And Run A Node

Committees from both states will soon vote on bills that would provide a variety of protections for Bitcoin mining operations and node runners.
Source : Bitcoin Magazine
13 days ago

Mainstream Bitcoin Exchanges Have Obscured The Value Of Private, P2P Alternatives

Mainstream bitcoin exchanges which collect troves of user data have warped users’ expectations for privacy-preserving, peer-to-peer versions.
Source : Bitcoin Magazine
13 days ago

New Hampshire Commission Recommends Statewide Bitcoin Mining Energy Plan

A commission out of New Hampshire has found that the positive impacts of bitcoin mining on the electricity system are worthy of further consideration.
Source : Bitcoin Magazine
14 days ago

CleanSpark Breaks Ground On 50 Megawatt Bitcoin Mining Expansion

The mining firm will nearly double its existing infrastructure, adding up to 50 Megawatts to the 36 Megawatts already in use.
Source : Bitcoin Magazine
14 days ago

What Black Investors Can Teach You About Bitcoin

Many Black Americans have turned to bitcoin to find a new kind of financial success.
Source : Bitcoin Magazine
14 days ago

Bitcoin Price And Risk Assets Jump In Correlated Move

Bitcoin price correlates with high-beta stocks in the recent move upward. Global liquidity is increasing as financial conditions loosen.
Source : Bitcoin Magazine
14 days ago

Okcoin And Paradigm Announce New Grant Awarded To Bitcoin Core Maintainer Marco Falke

The new grant, in partnership with Paradigm, will bring Okcoin’s support of Bitcoin Core development to $1.5 million.
Source : Bitcoin Magazine
14 days ago

U.S. Department Of Justice Shuts Down Crypto Exchange Bitzlato, CEO Arrested

The DOJ has charged the exchange with facilitating more than $700 million in illicit transactions tied to Russia, money laundering and criminal activity.
Source : Bitcoin Magazine
15 days ago

ZEBEDEE And VIKER Launch Bitcoin Chess, Bitcoin Scratch Mobile Games

Mobile games studio VIKER and bitcoin payments processor ZEBEDEE have once again teamed up to launch two classic games.
Source : Bitcoin Magazine
15 days ago

Dear Normie, Don’t Buy Bitcoin

Too many people invest in bitcoin the asset without fully appreciating all of the value that Bitcoin the technology can provide.
Source : Bitcoin Magazine
15 days ago

Bitcoin Price Reaches $21,000, Shorts Demolished In Biggest Squeeze Since 2021

Bulls take charge with massive upward momentum. Key price levels to watch to determine whether this is another bear market rally or a move with lasting power.
Source : Bitcoin Magazine
16 days ago

Sazmining Launches Hydroelectric-Powered Mining Facility In Wisconsin

The site furthers the company’s goals of providing mining hosting services to a retail audience using sustainable power sources.
Source : Bitcoin Magazine
16 days ago

Bitcoin Is The Solution To The World’s Economic Inequality Problem

After a year of growing economic disparity and damage to Bitcoin’s mainstream reputation, education is the key to solving global inequality.
Source : Bitcoin Magazine
16 days ago

To Becomes Bitcoin’s Go-To Platform, Nostr Will Have To Solve Its Key Management Issues

As Bitcoiners turn to Nostr as a censorship-resistant communication platform, user key management problems will arise.
Source : Bitcoin Magazine
17 days ago

With Confident Ignorance Of Bitcoin, So-Called ‘Experts’ Sacrifice Their Credibility

Recent examples of so-called “experts” speaking confidently, yet incorrectly, about Bitcoin will come back to haunt them.
Source : Bitcoin Magazine
18 days ago

How I Introduced My Younger Sister To Bitcoin

For my sister’s eighteenth birthday, I gave her the gift of bitcoin and some lessons on becoming a sovereign individual.
Source : Bitcoin Magazine
Added today

Nostr Will Only Scale If It Can Incentivize Users To Run Relays

Nostr, a growing hub for the Bitcoin community, faces some incentives challenges if it’s going to reach significant scale.
Source : Bitcoin Magazine
Added today

LevelField Financial To Become First FDIC-Insured Bank to Offer Traditional Banking And Bitcoin Services

LevelField Financial is set to acquire Burling Bank in a move that would enable access to bitcoin for traditional banking customers.
Source : Bitcoin Magazine
Added today

U.K. Details Plan To Regulate Bitcoin, Cryptocurrency Industry

The United Kingdom has released its first consultation on crypto trading and lending regulation within the country.
Source : Bitcoin Magazine
1 days ago

South African Retail Giant Pick-n-Pay Now Accepts Bitcoin Payments At All Locations

Pick n Pay has partnered with CryptoQR in order to accept bitcoin at more than 2,000 stores.
Source : Bitcoin Magazine
1 days ago

Luxor Technologies Launches The First Bitcoin Mining ASIC Request-for-Quote Platform

Luxor has launched the first ever ASIC RFQ platform with the goal of maximized market transparency and access.
Source : Bitcoin Magazine
1 days ago

Can Artificial Intelligence Make The Bitcoin Rabbit Hole Easier To Explore?

As artificial intelligence tools become more powerful and accessible, can they help more people get a grasp on Bitcoin?
Source : Bitcoin Magazine
1 days ago

Decentralized ‘Twitter Killer’ Nostr Goes Live On Apple’s App Store

Nostr, an open protocol that promises to substitute centrally-controlled social networks such as Twitter, is now live on the Apple App Store with Damus.
Source : Bitcoin Magazine
1 days ago

No Policy Pivot In Sight: “Higher For Longer” Rates On The Horizon

The market is nearly unanimous in expecting a 0.25% rate hike during February's FOMC meeting, yet many expect a “pause” shortly thereafter. We beg to differ.
Source : Bitcoin Magazine
1 days ago

Ordinals Project Launches Enabling NFTs Directly On Bitcoin

The controversial project has been met with equal parts excitement and criticism in regards to its impacts on Bitcoin.
Source : Bitcoin Magazine
2 days ago

Fiat Ruins Work But Bitcoin Rewards Those Who Add Value

How have Big Tech companies laid off so many with no consequences to their operations? Because fiat incentivizes meaningless rent seeking.
Source : Bitcoin Magazine
2 days ago

Strike Launches Instant, Cheap Remittances For The Philippines Using Bitcoin Lightning

U.S. users of Strike can now use Send Globally to send instant, cheap remittances to loved ones in the Philippines.
Source : Bitcoin Magazine
2 days ago

ZEBEDEE And Stattrak Launch New Esports Fantasy Product With Bitcoin Rewards

Stattrak and ZEBEDEE have launched a new fantasy esports platform with real-money rewards in bitcoin for popular games.
Source : Bitcoin Magazine
2 days ago

The Four Worst Ways To Attack Bitcoin

In his latest book, Nouriel Roubini demonstrates the worst ways to try and attack Bitcoin.
Source : Bitcoin Magazine
2 days ago

Twitter Prepping For Payments, Could Include Bitcoin And Crypto: FT

Elon Musk’s Twitter is preparing to add payments functionality that could potentially include cryptocurrency, inside sources told the Financial Times.
Source : Bitcoin Magazine
2 days ago

Mastercard And Binance To Offer Bitcoin, Crypto Card In Brazil

The new bitcoin and crypto-backed prepaid Binance Card is coming to Brazil, one of the exchange’s largest markets.
Source : Bitcoin Magazine
3 days ago

A Presidential Visit To Madeira: Is This Island The Next Bitcoin Paradise?

On a visit to the Portuguese island of Madeira, a delegation of Bitcoiners surfed, met with the president and extended Bitcoin adoption.
Source : Bitcoin Magazine
5 days ago

Bitcoin Sellers Exhausted, Accumulators HODL The Line

Bitcoin supply-side dynamics and on-chain indicators look to be as strong as ever, but macroeconomic headwinds remain for legacy and risk assets.
Source : Bitcoin Magazine
6 days ago

Biden Administration Releases Roadmap To Mitigate Cryptocurrency Risks

The White House has unveiled a roadmap to reduce risks associated with the wider cryptocurrency industry.
Source : Bitcoin Magazine
6 days ago

Senator Ted Cruz Is Bringing Bitcoin To The Capitol With Vending Machines

The Texas Senator has introduced a resolution requesting Capitol vendors to accept bitcoin.
Source : Bitcoin Magazine
6 days ago

The Five Lessons I Learned From Ignoring Bitcoin For Years

Lessons from a HODLer fortunate enough to find Bitcoin after passing on the opportunity repeatedly since 2012.
Source : Bitcoin Magazine
6 days ago

POS Giant Clover Teams Up With Strike To Bring Bitcoin’s Lightning Network To Millions Of Merchants

A 90-day trial period kicks off Clover’s integration with the Bitcoin Lightning Network, enabling faster, cheaper payments at merchants.
Source : Bitcoin Magazine
6 days ago

BitPay Announces Partnership With MoonPay, Removes Bitcoin Trading Fees For Limited Time

BitPay’s partnership with MoonPay is set to offer a superior buyer experience for those looking to purchase cryptocurrencies on the BitPay platform.
Source : Bitcoin Magazine
7 days ago

Fiat Debases Belief, But Bitcoin Makes Us Human

Enslaving us with debt and inflation, the fiat system replaces sincerely-held beliefs. But Bitcoin gives us the chance to be human again.
Source : Bitcoin Magazine
7 days ago

Mt Pelerin Crypto Exchange Adds Support For Bitcoin Lightning Network

The Swiss cryptocurrency exchange will now allow deposits and withdrawals through the Lightning Network.
Source : Bitcoin Magazine
8 days ago

Arizona Senator Introduces Bill To Make Bitcoin Legal Tender In The State

A bill introduced by Sen. Wendy Rogers reflects growing interest in bitcoin from U.S. states.
Source : Bitcoin Magazine
8 days ago

Swiss Bitcoin App Relai Now Allows Companies To Buy Bitcoin

The new Relai Business over-the-counter service will allow businesses to purchase bitcoin quickly.
Source : Bitcoin Magazine
8 days ago

The Kazakhstan Mining Exodus Has Flipped Bitcoin To Clean-Energy Dominance

After Kazakhstan forced out Bitcoin mining operations, the majority of global hash rate is now produced with clean energy.
Source : Bitcoin Magazine
8 days ago

Blockstream Raises $125 Million For Bitcoin Mining Expansion

Led by Kingsway Capital, Blockstream has raised $125 million for the purpose of expanding their institutional mining services.
Source : Bitcoin Magazine
9 days ago

EU Lawmakers Vote To Impose Strict Capital Requirements On Banks Holding Bitcoin And Crypto

Banks would be allowed to hold 2% of capital in bitcoin, but required to have one euro in capital for every euro in cryptocurrency held.
Source : Bitcoin Magazine
9 days ago

World’s Largest Bitcoin ATM Software Platform Acquired By Bitstop Founders

Andrew Barnard and Doug Carrillo of Bitstop have announced the acquisition of Genesis Coin Inc.
Source : Bitcoin Magazine
9 days ago

After the Failure Of Their Stablecoin Experiment, Iran And Russia Will Inevitably Adopt Bitcoin

With their newly-announced stablecoin experiment doomed to fail, Russia and Iran will soon learn Bitcoin is the solution that they want.
Source : Bitcoin Magazine
10 days ago

Announcing “Hunting Sats,” A Bitcoin Wallet Cracking Contest

Shadowy super coders and sat stacking anons from all over the internet are welcome to try and crack a wallet containing millions of sats.
Source : Bitcoin Magazine
10 days ago

In 2023, Bitcoiners Must Stop Shooting (Or Blocking) The Messengers

As the New Year begins, Bitcoiners should take this opportunity to engage with constructive criticism.
Source : Bitcoin Magazine
12 days ago

Crypto Lender Genesis Files For Chapter 11 Bankruptcy

The embattled crypto lender has filed a slew of voluntary bankruptcy notices in order to restructure itself.
Source : Bitcoin Magazine
12 days ago

Mississippi, Missouri Lawmakers Introduce Bills To Protect The Rights To Mine Bitcoin And Run A Node

Committees from both states will soon vote on bills that would provide a variety of protections for Bitcoin mining operations and node runners.
Source : Bitcoin Magazine
13 days ago

Mainstream Bitcoin Exchanges Have Obscured The Value Of Private, P2P Alternatives

Mainstream bitcoin exchanges which collect troves of user data have warped users’ expectations for privacy-preserving, peer-to-peer versions.
Source : Bitcoin Magazine
13 days ago

New Hampshire Commission Recommends Statewide Bitcoin Mining Energy Plan

A commission out of New Hampshire has found that the positive impacts of bitcoin mining on the electricity system are worthy of further consideration.
Source : Bitcoin Magazine
14 days ago

CleanSpark Breaks Ground On 50 Megawatt Bitcoin Mining Expansion

The mining firm will nearly double its existing infrastructure, adding up to 50 Megawatts to the 36 Megawatts already in use.
Source : Bitcoin Magazine
14 days ago

What Black Investors Can Teach You About Bitcoin

Many Black Americans have turned to bitcoin to find a new kind of financial success.
Source : Bitcoin Magazine
14 days ago

Bitcoin Price And Risk Assets Jump In Correlated Move

Bitcoin price correlates with high-beta stocks in the recent move upward. Global liquidity is increasing as financial conditions loosen.
Source : Bitcoin Magazine
14 days ago

Okcoin And Paradigm Announce New Grant Awarded To Bitcoin Core Maintainer Marco Falke

The new grant, in partnership with Paradigm, will bring Okcoin’s support of Bitcoin Core development to $1.5 million.
Source : Bitcoin Magazine
14 days ago

U.S. Department Of Justice Shuts Down Crypto Exchange Bitzlato, CEO Arrested

The DOJ has charged the exchange with facilitating more than $700 million in illicit transactions tied to Russia, money laundering and criminal activity.
Source : Bitcoin Magazine
15 days ago

ZEBEDEE And VIKER Launch Bitcoin Chess, Bitcoin Scratch Mobile Games

Mobile games studio VIKER and bitcoin payments processor ZEBEDEE have once again teamed up to launch two classic games.
Source : Bitcoin Magazine
15 days ago

Dear Normie, Don’t Buy Bitcoin

Too many people invest in bitcoin the asset without fully appreciating all of the value that Bitcoin the technology can provide.
Source : Bitcoin Magazine
15 days ago

Bitcoin Price Reaches $21,000, Shorts Demolished In Biggest Squeeze Since 2021

Bulls take charge with massive upward momentum. Key price levels to watch to determine whether this is another bear market rally or a move with lasting power.
Source : Bitcoin Magazine
16 days ago

Sazmining Launches Hydroelectric-Powered Mining Facility In Wisconsin

The site furthers the company’s goals of providing mining hosting services to a retail audience using sustainable power sources.
Source : Bitcoin Magazine
16 days ago

Bitcoin Is The Solution To The World’s Economic Inequality Problem

After a year of growing economic disparity and damage to Bitcoin’s mainstream reputation, education is the key to solving global inequality.
Source : Bitcoin Magazine
16 days ago

To Becomes Bitcoin’s Go-To Platform, Nostr Will Have To Solve Its Key Management Issues

As Bitcoiners turn to Nostr as a censorship-resistant communication platform, user key management problems will arise.
Source : Bitcoin Magazine
17 days ago

With Confident Ignorance Of Bitcoin, So-Called ‘Experts’ Sacrifice Their Credibility

Recent examples of so-called “experts” speaking confidently, yet incorrectly, about Bitcoin will come back to haunt them.
Source : Bitcoin Magazine
18 days ago

How I Introduced My Younger Sister To Bitcoin

For my sister’s eighteenth birthday, I gave her the gift of bitcoin and some lessons on becoming a sovereign individual.
Source : Finance Magnates
9 days ago

Bitfinex Offers Crypto Cards-as-a-Service Product from Tap Global

<p>Bitfinex, one of the leading crypto exchanges, has become the first client for Tap Global and its newest Cards-as-a-Service (CaaS) platform. With the latest B2B product, companies can offer their clients prepaid debit cards to enhance their offerings.</p><p>Tap Global Partners with Bitfinex</p><p>According to Tuesday's press release, Tap Global is a publicly listed (AQSE:TAP) provider of a crypto app connecting the world of <a href="https://www.financemagnates.com/terms/b/blockchain/" class="terms__main-term" id="be18ed01-45fc-4044-b447-06802a10dbcd" target="_blank">blockchain</a> technology and traditional finance. The CaaS platform, based on a partnership with Mastercard, is the company's latest product, and Bitfinex customers will be the first to take advantage of its capabilities.</p><p>"We are excited to add this B2B Product to Tap's offering and look forward to supporting innovative businesses such as Bitfinex in providing their clients with financial flexibility to seamlessly convert and spend cryptocurrency assets without hindrance from the traditional banking system," David Carr, the Chief Executive Officer of Tap, said.</p><p>As a first step, the card will be available to European Bitfinex customers. Using Tap's infrastructure and regulatory approvals, the customers will be able to exchange cryptocurrencies for euros and transfer them to the prepaid card.</p><p>The product will carry the Bitinex branding, but Tap provides all related services. The company will also charge monthly fees associated with using the card.</p><p>"Tap is not a simple 'buy crypto' app, focused solely on individual users. It is our ambition to be one of the world's leading FinTech companies, and this product is an example of our significant and growing business-focused offering," Carr added.</p><p>Bitfinex Starts a New Partnership and Expands Global Presence</p><p>Bitfinex recently announced <a href="https://www.financemagnates.com/cryptocurrency/news/bitfinex-enables-instant-euro-payments-with-openpayd-partnership/" target="_blank" rel="follow">enabling real-time Single Euro Payments Area (SEPA) payments</a> on the platform with its latest partnership with the fiat on-ramp services provider, OpenPayd. SEPA allows instant euro-denominated deposits and withdrawals.</p><p>"This collaboration forms part of our continued efforts to provide a premium customer service experience to our growing user base," Bitfinex's CTO, Paolo Ardoino, commented.</p><p>In the meantime, the company announced the expansion of its presence in the digital assets industry through <a href="https://www.financemagnates.com/cryptocurrency/news/bitfinex-securities-expands-global-presence-launches-new-product-in-kazakhstan/" target="_blank" rel="follow">the launch of a new trading product in Kazakhstan</a>. Dubbed Blockstream Mining Note (BMN), it allows investors to expand their exposure to the Bitcoin mining industry. BMN aims to increase efficiency and reduce cost by packaging mining operations in a tradable crypto token.</p><p>Watch the recent FMLS22 panel on forex and crypto industry trends in 2023.</p><p>Bitfinex Is One of the Oldest Companies in the Industry</p><p>The cryptocurrency <a href="https://www.financemagnates.com/terms/e/exchange/" class="terms__secondary-term" id="b5da6e64-2afe-421d-9b81-16404b7d59d6" target="_blank">exchange</a> Bitfinex has been present in the market for more than 11 years, since 2012. During this time, it had to deal with a high-profile hacking attack back in 2016. The funds still remain for the most part unrecovered. However, by February 2022, the enforcement bodies <a href="https://www.financemagnates.com/cryptocurrency/36b-btc-seizure-from-bitfinex-hack-good-or-bad-for-the-industry/" target="_blank" rel="follow">successfully recovered $3.6 billion of the stolen funds.</a></p><p>Despite such a severe security breach, the exchange has managed to maintain consumer confidence and stay true to its values. According to the exchange's representatives, these are the main reasons why Bitfinex is still one of the most popular cryptocurrency platforms in the world.</p><p>"In our industry, Bitfinex is one of the oldest companies and one of the largest by exchange-traded volume, but we are also one of the smallest by headcount, and we have a very strong culture underpinned by our values," <a href="https://www.financemagnates.com/cryptocurrency/bitfinex-defends-crypto-depsite-industrys-multiple-crises-in-2022/" target="_blank" rel="follow">the company said</a>.</p> This article was written by Damian Chmiel at www.financemagnates.com.
Source : Finance Magnates
8 days ago

Binance Stored Users' Fund with B-Tokens Collateral by ‘Mistake’: Report

<p>Binance, the world’s biggest cryptocurrency exchange by trading volume, admitted to storing customers’ funds and the collateral of some of the tokens it issues by "mistake." </p><p>According to Bloomberg, Binance issued 94 Binance-peg tokens, also called ‘B-Tokens’. However, almost half of the reserves of these tokens are kept together with customers’ funds in a cold wallet called "Binance 8," the outlet said. Currently, the wallet’s tokens' reserve outnumbers the volume of B-Tokens the leading crypto exchange has issued, Bloomberg added. </p><p>Furthermore, the outlet said its calculation shows that over $539 million in B-Tokens have been affected as a result of this action. However, a spokesperson who spoke to the news platform assured the public that users' funds are backed 1:1 and added that the exchange is taking steps to rectify the situation.</p><p>Watch the recent FMLS22 on reimagining the crypto structure.</p><p>CEXs Battle User Confidence Post FTX</p><p>The new development at Binance comes as centralized exchanges (CEXs) face greater scrutiny following the collapse in November of Bahamas-based <a href="https://www.financemagnates.com/terms/c/cryptocurrency-exchange/" class="terms__secondary-term" id="601e2e5f-0c28-4253-9ad4-5e6b251ba2fa" target="_blank">cryptocurrency exchange</a>, FTX, which allegedly released customers' funds to its sister trading firm, Alameda Research. FTX is still undergoing bankruptcy proceedings in the United States.</p><p>Over a month ago, the global financial auditor Mazars in a report noted that Binance's reserves for Bitcoin was over-collaterized, standing at 101%, as against the regular 100% or 1:1 asset-to-reserve ratio. Binance first <a href="https://www.financemagnates.com/cryptocurrency/binance-launches-proof-of-reserves-for-btc/" target="_blank" rel="follow">launched</a> its proof-of-reserves (PoR) for BTC in November last year.</p><p>Away from Binance, in a bid to assure their users of their financial health, other cryptocurrency exchanges have announced PoRs for their digital asset holdings. Last week, Seychelles-based crypto exchange OKX released its PoR which shows that the platform is <a href="https://www.financemagnates.com/cryptocurrency/okx-releases-proof-of-reserves-shows-75-billion-in-btc-eth-and-usdt/" target="_blank" rel="follow">also over-collaterized</a>, with about $7.5 billion in digital asset holdings.</p><p>Finance Magnates reports that while OKX’s users hold a total of 117,682 BTC, 1,178,993 ETH and 2,955,696,824 USDT, the crypto exchange’s reserve ratio stood at 105% for the first two digital assets and 101% for the <a href="https://www.financemagnates.com/terms/s/stablecoin/" class="terms__main-term" id="e84b040e-4d12-499b-99bf-8ba75ea058ca" target="_blank">stablecoin</a>. </p><p>Meanwhile, Singapore-based <a href="https://www.financemagnates.com/cryptocurrency/cryptocom-releases-audited-proof-of-reserves/" target="_blank" rel="follow">Crypto.com</a> and another crypto exchange <a href="https://www.financemagnates.com/cryptocurrency/bitget-shares-proof-of-reserves-launches-merkle-validator/" target="_blank" rel="follow">Biget</a> recently launched their PoRs. The asset-reserve ratios of the major cryptocurrencies on Crypto.com include BTC (102%), ETH (101%), USDC (102%), USDT (106%), USDT (106%) and XRP (101%). Others are Dogecoin (101%), Shiba Inu (102%), Link (101%) and Mana (102%).</p> This article was written by Solomon Oladipupo at www.financemagnates.com.
Source : Finance Magnates
7 days ago

What Does the Future Hold for Crypto KYC?

<p class="MsoNormal">Crypto KYC has become far more commonplace in 2023. This is due to crypto companies becoming an increasingly significant element of the financial system, while terms like BTC, ETH, of NFTs have also become broadly known across the world.</p><p class="MsoNormal">Virtual asset service providers (VASPs for short) have played a crucial role in crypto’s growth and as crypto exchanges, and crypto wallets sprout so do new ways to use virtual assets illegally.</p><p class="MsoNormal">Money launderers are known for how quickly they can adapt themselves to new paradigms in finance, and within crypto, it is in no way different.</p><p class="MsoNormal">Sophisticated new ways of using virtual assets have prompted governments throughout the world to attempt to bring virtual asset service providers under AML regulations (anti-money laundering).</p><p class="MsoNormal">Subsequently, in virtue of said regulations, having <a href="https://www.financemagnates.com/fintech/payments/kyc-and-why-it-matters/" target="_blank" rel="follow">Know Your Customer</a> (KYC) procedures became mandatory.</p><p>What Is the Future of KYC in Crypto?</p><p class="MsoNormal">KYC data refers to the data collected from Virtual Asset Service Providers throughout their onboarding and transactions which verifies client identity. This due diligence happens on account of process compliance with the regulatory framework at hand, namely with what concerns Customer Due Diligence (CDD). </p><p class="MsoNormal">KYC intended purposes are simple: to identify clients and perform a verification check before granting them access to a service or to conduct a transaction. </p><p>The KYC Process Explained</p><p class="MsoNormal">Crypto regulation can drastically differ from one jurisdiction to another and it is important to understand that clients will also be required to submit different types of data.</p><p class="MsoNormal">Usually, the absolute minimum KYC data gathered is a client’s full name, his or her date of birth, and their residential address. </p><p class="MsoNormal">The data is crosschecked with government-issued documents which the client must also submit.</p><p>Traditional Steps in Crypto KYC Onboarding Process</p><p class="MsoNormal">There are different stages in a KYC onboarding process, depending obviously on which company is performing it and the jurisdiction in which it operates.</p><p class="MsoNormal">Generally speaking, onboarding starts with the identification stage in which the client submits his or her personal data. Usually, the client is asked to take a photo of their government-issued document and submit it.</p><p class="MsoNormal">The said document is checked for issues, mistakes, and so forth as a way to attest to its authenticity. The data on the document in question is crosschecked with user-submitted data as well.</p><p class="MsoNormal">Depending on the client’s address, it will be determined if he or she is currently located in a high-risk country.</p><p class="MsoNormal">Finally, there is usually a liveness check in which the user needs to prove his or her actual presence and a risk scoring stage in which the client is assessed with a risk category on the basis of the whole evaluation.</p><p>What Types of Crypto KYC Checks Are There?</p><p class="MsoNormal">In essence, KYC procedures can be either manual and/or automated.</p><p class="MsoNormal">Both options have their pros and cons.</p><p class="MsoNormal">Manual checks are much slower than automated ones. They are also costlier, and slightly more error-prone as human involvement leads to higher error rates.</p><p class="MsoNormal">As for automated KYC processes, they are known for bringing costs down while speeding up onboarding.</p><p class="MsoNormal">The process is designed to extract data from the documents users provide and compare the said data and documents to templates. </p><p>Why Do Crypto Companies Need KYC?</p><p class="MsoNormal">A KYC check is usually mandatory in most jurisdictions. Thus, users aren’t allowed to buy crypto or withdraw their funds before completing and passing a KYC check.</p><p class="MsoNormal">But, even with legal obligations aside, being KYC compliant is incredibly helpful to crypto companies in many ways as the transparency it provides prevents money laundering and financing terrorism, helps in the fight against fraud, and boosts overall trust in both clients and investors.</p><p>Should You Engage with Crypto Companies Operating without KYC?</p><p class="MsoNormal">Non-KYC exchanges are normally unregulated and decentralized. </p><p class="MsoNormal">They usually sprout in countries in which AML regulation is lacking (or almost non-existent).</p><p class="MsoNormal">There are several risks of using non-KYC platforms, but the main one is the heightened vulnerability that clients have to criminals. </p><p>Wrapping Up</p><p class="MsoNormal">Crypto’s very nature lies in its inherent decentralization. It seems fairly certain that embracing KYC is in the cards for cryptocurrency as it adds transparency while protecting the user.</p><p class="MsoNormal">Many countries have stated their message loud and clear as they pursue AML requirements and legislation which further tightens KYC and crypto together.</p><p class="MsoNormal">With Web 3.0 on the horizon, however, the topic of decentralization rises again as does the fascinating new concept of online self-sovereign identity (SSI).</p><p class="MsoNormal">Will regulators consider that approach when dealing with KYC and crypto? That will most likely be the main question going forward.</p><p class="MsoNormal">As for now, crypto-related businesses that ensure AML compliance are unquestionably the highest ranked amongst user and investor trust, and while being fully compliant might be a hard endeavor, it seems incredibly beneficial.</p> This article was written by Pedro Ferreira at www.financemagnates.com.
Source : Finance Magnates
1 days ago

UK Moves to Regulate Crypto for Better Consumer Protection

<p>Great Britain is preparing the ground for cryptocurrency regulation in the country in the future, the UK's government announced on Wednesday. Public consultation has been launched as the first step to prepare a draft law on regulating digital assets.</p><p>UK Starts Crypto Regulation Works</p><p>According to the official press release published on the government website, the UK wants to protect its consumers better and allow the crypto industry to grow from within the regulated ecosystem. The new crypto rules will aim to exclude the risk of bad actors entering the market and reduce the risk of <a href="https://www.financemagnates.com/terms/m/money-laundering/" class="terms__main-term" id="f30ffb65-351e-44d6-9dae-0714f08b59b2" target="_blank">money laundering</a> activities using a decentralized and anonymous crypto niche.</p><p>"We remain steadfast in our commitment to grow the economy and enable technological change and innovation – and this includes cryptoasset technology. But, we must also protect consumers who are embracing this new technology – ensuring robust, transparent, and fair standards," Andrew Griffith, the Economic Secretary to the Treasury, commented on the proposed regulations.</p><p>The UK government pointed out that cryptocurrencies, as an emerging sector still experience heightened volatility. In addition, the recent high-profile collapse of many companies following <a href="https://www.financemagnates.com/cryptocurrency/ftx-the-rise-the-fall-and-the-reaction/" target="_blank" rel="follow">the bankruptcy of the FTX exchange</a> has exposed the 'structural vulnerability' of some business models prevalent in the industry.</p><p>"Our robust approach to regulation mitigates the most significant risks while harnessing the advantages of crypto technologies. This enables a new and exciting sector to safely flourish and grow, boosting jobs and investment," the press release added.</p><p>In April 2022, <a href="https://www.financemagnates.com/cryptocurrency/why-the-wild-west-crypto-market-faces-and-needs-regulation/" target="_blank" rel="follow">John Glen MP, then Economic Secretary, set out plans</a> to regulate stablecoins and to transfer Great Britain into one of the global crypto hubs. From 2022, the Financial Conduct Authority (FCA) has the right to supervise cryptocurrency businesses in relation to money laundering and terrorist financing risks. As a result, companies wishing to operate in the local market must obtain authorization from the regulator. </p><p>However, <a href="https://www.financemagnates.com/cryptocurrency/education-centre/is-cryptocurrency-legal-in-the-uk/" target="_blank" rel="follow">the industry is not regulated from an individual customer's point of view</a>. In case of lost funds, due to the exchange collapse or the loss of a private key, the investor cannot rely on the Financial Services Compensation Scheme. FCA's announcement in November following the collapse of FTX was a prime example when the institution reiterated that <a href="https://www.financemagnates.com/cryptocurrency/fca-has-no-good-news-for-ftx-customers/" target="_blank" rel="follow">it is not responsible for regulating crypto</a>, and investors are most likely left to face this problem on their own.</p><p>Watch the recent FMLS22 panel on the regulation roundup for 2023.</p><p>When Will the UK Start Crypto Market Regulations?</p><p>Although the Treasury has not set a date for the final cryptocurrency market <a href="https://www.financemagnates.com/terms/r/regulation/" class="terms__secondary-term" id="341d154e-1396-4d12-a357-4837e79c4146" target="_blank">regulation</a> or publishing a draft bill, the current public consultation that was launched on 1 February will run until 30 April. After that, the government will review the feedback and begin preparing a response. </p><p>Once the draft regulations are in place, the FCA will hold an individual consultation with the industry to discuss how the cryptocurrency sector will operate once the new rules are implemented. </p><p>The UK's proposed rules are intended to make cryptocurrency systems responsible for setting out detailed requirements for the content of disclosure and admission documents, ensuring robust and fair standards for all trading platforms. On top of that, the regulations apply to custodians and financial intermediaries responsible for holding assets belonging to clients.</p><p>"These steps will help to deliver a robust world-first regime strengthening rules around the lending of cryptoassets, whilst enhancing consumer protection and the operational resilience of firms," the statement added.</p><p>Time Limited Exemption for Crypto Firms</p><p>Moreover, the UK government has announced that, following concerns about the small number of crypto firms that the FCA authorizes to issue their own promotions, the Treasury is introducing a time-limited exemption.</p><p>It means that digital asset firms authorized by the FCA for anti-money laundering purposes will be able to issue their promotional materials before the new regulatory regime is presented.</p><p><a href="https://www.financemagnates.com/cryptocurrency/can-mica-take-europe-to-the-crypto-promised-land/" target="_blank" rel="follow">The European Union is working on its own cryptocurrency regulations</a> under the Markets in Crypto-Assets regulation (MiCA) proposal. MiCA seeks to regulate issuers of stablecoins and other unbacked crypto-assets such as Bitcoin.</p> This article was written by Damian Chmiel at www.financemagnates.com.
Source : Finance Magnates
9 days ago

Third Time's the Charm? Gemini Cuts its Workforce Once Again

<p>Gemini, the <a href="https://www.financemagnates.com/terms/c/cryptocurrency-exchange/" class="terms__main-term" id="601e2e5f-0c28-4253-9ad4-5e6b251ba2fa" target="_blank">cryptocurrency exchange</a> owned by the Winklevoss twin brothers, is set to reduce its workforce by a further 10%, making job cuts for the third time in the last seven months. Despite a rebound in cryptocurrency prices in 2023, the crypto winter continues, with more companies announcing job cuts in the sector.</p><p>Gemini Cuts Jobs for the Third Time</p><p>According to an internal message viewed by The Information, the company managed by Tayler and Cameron Winklevoss is set to lay off a tenth of its current workforce. The news was distributed on Monday via the company's Slack and separately confirmed by CNBC in an interview with a company spokesperson.</p><p>Gemini had about 1,000 employees in November, <a href="https://www.financemagnates.com/cryptocurrency/gemini-approved-as-a-virtual-asset-service-provider-in-ireland/" target="_blank" rel="follow">having laid off about 7% of its workforce in July</a> and <a href="https://www.financemagnates.com/cryptocurrency/crypto-winter-gemini-sheds-off-10-of-workforce-in-first-job-cut/" target="_blank" rel="follow">cut 10% of its workforce a month earlier.</a> "It was our hope to avoid further reductions after this summer, however, persistent negative macroeconomic conditions and unprecedented fraud perpetuated by bad actors in our industry have left us with no other choice but to revise our outlook and further reduce headcount," Cameron Winklevoss wrote in a Slack message seen by The Information.</p><p>Gemini Problems Pile Up</p><p>Although the crypto market is still near its long-term minimums, low prices are one of Gemini's latest problems. The platform is facing a court battle with the U.S. <a href="https://www.financemagnates.com/terms/s/securities-and-exchange-commission-sec/" class="terms__secondary-term" id="3718b4df-fc5f-479a-861e-f52759439c15" target="_blank">Securities and Exchange Commission (SEC</a>) over alleged unregistered sales of securities in connection with its partnership with Genesis, Barry Silbert's bankrupt company.</p><blockquote class="twitter-tweet"><p lang="en" dir="ltr">1/ Earn Update: This evening, Genesis Global Capital, LLC (Genesis) filed for bankruptcy under Chapter 11. This is a crucial step towards us being able to recover your assets.</p>— Cameron Winklevoss (@cameron) <a href="https://twitter.com/cameron/status/1616298056097624064?ref_src=twsrc%5Etfw">January 20, 2023</a></blockquote><p>The lender generated sizable profits for Gemini customers through Gemini Earn, the platform's high-yield product. However, the relationship between the two companies was severely damaged when the FTX exchange filed for bankruptcy. Genesis froze loans and redemptions, leaving customers of the Winklevoss brothers' exchange without almost $900 million. </p><p>It forced a sizable group of the exchange's 340,000 customers to take matters into their own hands. They filed a class action lawsuit against the exchange. Meanwhile, Genesis has filed for bankruptcy protection, where Gemini is listed as the largest creditor with $765.9 million.</p><p>Watch the recent FMLS22 panel on reimagining the crypto market structure.</p><p>Industry Feels the Crypto Blues</p><p>While Gemini is laying off employees for the third time in a short period, other cryptocurrency companies are also choosing to cut jobs to optimize costs.</p><p>A week ago, ConsenSys, a cryptocurrency software company, <a href="https://www.financemagnates.com/cryptocurrency/consensys-joins-crypto-layoffs-with-11-workforce-cut/" target="_blank" rel="follow">confirmed its plans to cut 11% of its current workforce</a>, which translates to almost 100 positions. The company wants to focus on its core business and increase existing productivity.</p><p>Similar plans were announced by the Coinbase exchange, <a href="https://www.financemagnates.com/cryptocurrency/binance-hires-when-coinbase-cuts-employment-amidst-crypto-winter/" target="_blank" rel="follow">which intends to lay off about 20%, or 950 people</a>. It is part of a restructuring effort expected to be completed in the second quarter, costing the platform up to $164 million.</p><p>Blockchain.com, a Luxembourg-headquartered cryptocurrency exchange, <a href="https://www.financemagnates.com/cryptocurrency/mass-layoff-continues-as-blockchaincom-sheds-25-of-workforce/" target="_blank" rel="follow">decided to cut 25% of its workforce last year</a>. The largest number of affected employees resided in Argentina, where the platform closed its offices. In total, about 150 people lost their jobs.</p><p>In 2023, bitcoin has grown by more than 20%, with the total market capitalization of the digital asset rising above $1 trillion. The question is whether this is enough for the industry to forget the upheaval caused by the collapse of FTX and the Terra ecosystem last year.</p> This article was written by Damian Chmiel at www.financemagnates.com.
Source : Finance Magnates
9 days ago

Stablecoins Will Re-Enter Japan? FSA Works on Regulations

<p>Japan intends to allow local investors to trade foreign stablecoins, such as USD Coin (USDC) or Tether (USDT), by the end of the second quarter of 2023 at the latest, The Financial Services Agency (<a href="https://www.financemagnates.com/tag/fsa/" target="_blank" rel="follow">FSA</a>) reported.</p><p>Stablecoins and Japanese Ban</p><p>However, the FSA is unlikely to allow all foreign stablecoins, and the final list is still unknown. A spokesperson for the FSA told Cointelegraph that restrictions may still be imposed on some of them.</p><p>The Japanese regulator will conduct its own <a href="https://www.financemagnates.com/terms/c/compliance/" class="terms__main-term" id="569f58ee-534c-44f0-a7cd-f55b0f9a2b2a" target="_blank">compliance</a> checks to confirm that stablecoins will be safe for local users. Ultimately, the most popular ones could not be allowed to enter the market. However, Details on the matter have not been provided.</p><p>"The FSA does not provide any opportunity to access such information before the decision is made," a spokesperson for the regulator said.</p><p>It was first reported that <a href="https://www.financemagnates.com/tag/japan/" target="_blank" rel="follow">Japan </a>would loosen <a href="https://www.financemagnates.com/terms/s/stablecoin/" class="terms__secondary-term" id="e84b040e-4d12-499b-99bf-8ba75ea058ca" target="_blank">stablecoin</a> regulations in late 2022. At the time, local media outlets suggested that the regulators would allow foreign stablecoin trading while maintaining a cap on remittances and asset preservation by deposits.</p><p>Watch the recent FMLS22 panel on the current crypto winter.</p><p>Japan Loosens Stablecoin Regulations after Tightening Too Much</p><p>A bill restricting the issuance of foreign stablecoins <a href="https://www.financemagnates.com/cryptocurrency/japan-passes-bill-that-defines-stablecoins-as-digital-money/" target="_blank" rel="follow">was enacted in June 2022</a>, requiring issuers to peg the tokens to the Japanese yen. The legislation is expected to finally go into effect in 2023, but it has already changed the picture of the local cryptocurrency industry.</p><p>None of the 31 FSA-registered cryptocurrency exchanges has since offered stablecoin operations. In 2021, the FSA led the discussion on <a href="https://www.financemagnates.com/cryptocurrency/regulation/japans-fsa-starts-discussions-to-impose-stricter-crypto-laws/" target="_blank" rel="follow">stronger industry regulation</a> while preserving room for further development of cryptocurrency projects. In the case of the stablecoin market, the proposed regulatory changes have proved to be too strict.</p><p>More importantly, some exchanges, including Kraken and Coinbase, have decided to leave the country, explained by the weak cryptocurrency market. However, the loosening of regulations may encourage some players to return. In September, it was reported that Binance, one of the largest cryptocurrency exchanges, is seeking to re-enter the Japanese market after four years of absence.</p> This article was written by Damian Chmiel at www.financemagnates.com.
Source : Finance Magnates
2 days ago

Crypto Narratives and the Bitcoin Anti-Narrative

<p>The word narrative is overused in crypto, and it might elicit a roll of the eyes if uttered in dialogue with a committed Bitcoin maxi. It refers to a story, in this case about a coin, protocol or product, that will drive attention and attract buyers.</p><p> You could argue that rather than narratives, crypto needs concrete real-world utility, but still, when sentiment picks up and bullishness stirs for certain, the reality, whether we like it or not, is that narratives have a gravitational effect on incoming traders.</p><p> As for when crypto bullishness might return, opinion is split. Some observers reckon the early stirrings are already upon us, and that BTC’s recent price rise is indicative that the bottom has been reached and the cycle is rotating us into a fresh phase. Others, meanwhile, maintain that recent pumps are the result of an oversold market in which too many traders were positioned short, and don’t represent a meaningful shift in structure.</p><p> Either way, it’s worth being ready for incoming storylines that can become prominent when bulls are back in control, and, regardless of whether or not we actually believe in them, we can already get an idea of what those narratives might be.</p><p>Crypto Narrative and Bitcoin Anti-Narrative Explained</p><p>Artificial Intelligence</p><p>At the tail-end of 2021, the metaverse was a hot topic, and accordingly, any coin that was connected via metaverse notions briefly rode the waves of that hype.</p><p> With the rise of ChatGPT, and with investment channeling into AI and <a href="https://www.financemagnates.com/terms/m/machine-learning/" class="terms__main-term" id="54c21f0f-1c36-4acc-80dc-6a151f07773e" target="_blank">Machine Learning</a> development, we can expect next time around that any <a href="https://www.financemagnates.com/tag/crypto/" target="_blank" rel="follow">crypto protocols</a> related to AI will perform well. This has, in fact, already played out in miniature, with coins such as Fetch and AGIX experiencing gains while ChatGPT has dominated tech news, and that dynamic can perhaps play out more dramatically under bullish conditions.<a></a></p><p>Gaming and the Metaverse</p><p>Speaking of the metaverse, we should not imagine that it’s a bygone topic from an earlier cycle. Development continues on metaverse projects across several companies, including Yuga Labs, The Sandbox, Decentraland and Meta (formerly Facebook), and though media attention has shifted for the moment, there’s every chance that another bout of hype, hopefully with inviting products attached, will bubble up again in the future.</p><p> Gaming and metaverse coins, such as GALA and NAKA had strong runs in 2021, and that was without even having mainstream adoption to showcase. Should some genuinely enjoyable-to-use products start picking up momentum (and there is plenty of development on this front), then gaming can become a strong narrative.</p><p>On this note, another one to watch might be the TreasureDAO gaming ecosystem and its MAGIC token, operating on the Arbitrum network, which has stated that it wants to build a decentralized version of Nintendo.</p><p>Watch this recent FMLS22 panel on reimagining the crypto market structure.</p><p>Decentralized Storage and Oracles</p><p>If blockchains are to enable decentralized computing (and, as a caveat, not everyone agrees that this is the main purpose of crypto development), then there are practical considerations around how to store and recall data in a securely decentralized manner, and how to gather information from the web to be used in on-chain applications.</p><p>Storage protocols deal with the issue of keeping and accessing files without the need for centralized entities and include the likes of Filecoin, Sia, Arweave and Storj. Robust permissionless storage is particularly relevant to NFTs, as, at the moment, while NFTs are crypto tokens, many simply link to image files kept on regular, centralized servers.</p><p> Then there are Oracles, which are protocols to connect decentralized applications with the wider world by retrieving outside data for smart contracts. Leading the way is Chainlink, with projects such as Band Protocol and UMA also in the running.</p><p> Decentralization should be at the core of the crypto discussion, it’s a fundamental driving concept, and if there’s a refocus on basic principles after the multiple wayward shambles of 2022, then achieving full decentralization, utilizing storage and oracles, could be prioritized.</p><p>The Bitcoin Anti-Narrative</p><p>There is also the anti-narrative of having no narrative at all, which is embodied most clearly, or perhaps uniquely, by Bitcoin. In this case, there is a refreshing simplicity: Bitcoin is sound money, digitally decentralized, for making <a href="https://www.financemagnates.com/terms/p/payments/" class="terms__secondary-term" id="f1d2a713-da14-4a6b-8fcd-e8f360d07f45" target="_blank">payments</a>, saving, and preserving wealth. It’s an attractive, no-nonsense proposition and doesn’t require any decorative elaboration.</p><p>Other Stories</p><p>Other niches and narratives are at play, some of which can gain traction. Among these, there are Layer 2s (Polygon and Arbitrum are notable), Ethereum competitors (Solana, Avalanche, Cardano and more), privacy coins (Monero is most prominent), and Cosmos present itself, ambitiously, as the internet of blockchains, which, as with TreasureDAO aiming to become the <a href="https://www.financemagnates.com/tag/blockchain/" target="_blank" rel="follow">blockchain</a> Nintendo, sounds compelling.</p><p>It’s also plausible that <a href="https://www.financemagnates.com/tag/nfts/" target="_blank" rel="follow">NFTs</a> will, at some point, go on another run to match, or even exceed, that of 2021. Many seasoned crypto traders remained on the NFT sidelines last time, caught unawares by the sudden explosion of interest, and unsure what to make of what appeared, from a certain perspective, to be limited-supply meme coins with JPEGs attached.</p><p> NFTs have established themselves more robustly since then, some projects are building prolifically, and there is a better understanding of what they are and how they can perform. In fact, if buyers are searching for crypto utility and crossover appeal, it may even be NFTs that can lead the way.</p> This article was written by Sam White at www.financemagnates.com.
Source : Finance Magnates
9 days ago

NYDFS Issues Guidelines to Protect Crypto Customers’ Funds

<p>The New York State Department of Financial Services (NYDFS) released regulatory guidance on Monday, ordering all crypto companies to separate funds belonging to the customers and their own. The regulatory superintendent, Adrienne Harris, highlighted that the rules focus on protecting customers' funds in case of an insolvency or similar proceeding.</p><p>NYDFS Issues Guidelines on Crypto Fund Segregation</p><p>“DFS’s virtual currency <a href="https://www.financemagnates.com/terms/r/regulation/" class="terms__main-term" id="341d154e-1396-4d12-a357-4837e79c4146" target="_blank">regulation</a> has protected New Yorkers since 2015,” Harris said. “Today’s guidance reminds DFS-regulated virtual currency companies of our expectations regarding the safekeeping of customer assets.”</p><p>The official announcement highlighted four areas the new guidelines are addressing. These include the segregation and separate accounting of customer assets, clarification of custody and safekeeping services, sub-custody arrangements with third parties, and proper disclosure of general terms and conditions to the customers.</p><p>NYDFS is one of the crypto regulators with <a href="https://www.financemagnates.com/cryptocurrency/news/bitooda-obtains-bitlicense-from-nydfs/" target="_blank" rel="follow">clear and stringent rules</a>, overseeing the activities of the crypto companies within the state of New York. The new guidelines against co-mingling of funds will apply to the companies that the regulator has licensed or chartered to custody, or temporarily hold, store, or maintain virtual currency assets on behalf of their customers.</p><p>Last month, the regulator <a href="https://www.financemagnates.com/cryptocurrency/new-york-regulator-mandates-crypto-permission-for-banks/" target="_blank" rel="follow">mandated the banking firms</a> in the state to seek advance permission before they or their authorized third-party agents engage in cryptocurrency-related activities.</p><p>Check out the latest FMLS22 session on "Will Crypto Fizzle Out or Here to Stay?"</p><p>FTX Collapse Triggers the Necessity of New Rules</p><p>The new guidelines came after the collapse of Sam Bankman-Fried FTX empire. He has allegedly used FTX customer funds to issue illicit loans to sister company Alameda Research. FTX, Alameda Research, and more than 130 other affiliates are now under <a href="https://www.financemagnates.com/terms/b/bankruptcy/" class="terms__secondary-term" id="41b3ef0d-d805-441d-8443-121890264e94" target="_blank">bankruptcy</a> protection, while Bankman-Fried is <a href="https://www.financemagnates.com/cryptocurrency/news/ftxs-sam-bankman-fried-pleads-not-guilty-to-us-criminal-charges/" target="_blank" rel="follow">facing criminal charges</a>.</p><p>Though Bankman-Fried, who does not associate himself with the operations of FTX anymore, wrote in a blog that the collapsed crypto exchange should have enough funds for the customers, the bankruptcy proceedings still need to start to compensate the customers.</p><p>Last year, the crypto prices plummeted from their all-time high levels, and the two major collapses in the industry, first Terra Luna and then FTX. Both these events have triggered the <a href="https://www.financemagnates.com/cryptocurrency/crypto-lender-genesis-files-for-bankruptcy-in-new-york/" target="_blank" rel="follow">collapse of several other firms </a>that had exposure to them.</p> This article was written by Arnab Shome at www.financemagnates.com.
Source : Finance Magnates
7 days ago

First Binance and Now Coinbase Have Both Been Fined $3.3m in Netherlands

<p>The leading digital assets <a href="https://www.financemagnates.com/terms/e/exchange/" class="terms__main-term" id="b5da6e64-2afe-421d-9b81-16404b7d59d6" target="_blank">exchange</a> Coinbase has been slapped with a hefty $3.3 million fine by the Dutch central bank, De Nederlandsche Bank (DNB). A fine of an identical amount was paid a few months earlier by its rival platform <a href="https://www.financemagnates.com/tag/binance/" target="_blank" rel="follow">Binance</a>.</p><p>According to the DNB's press release, the fine was imposed due to unauthorized crypto activities at the Coinbase exchange, from November 2020 until at least 24 August 2022.</p><p>Coinbase Europe Limited Fined by DNB</p><p>The Coinbase European subsidiary, Coinbase Europe Limited, has been operating unregistered in the Netherlands since at least November 2020. Earlier in May of the same year, the DNB imposed a registration requirement on all cryptocurrency service providers due to the high risk of money laundering and terrorist financing. </p><p>The base fine for a violation committed by Coinbase is €2 million, but it was increased due to the fact that Coinbase is one of the largest cryptocurrency exchanges in the world and has a large number of consumers in the Netherlands. </p><p>"In addition, Coinbase has enjoyed a competitive advantage in that it has not paid any supervisory fees to DNB or incurred other costs in connection with DNB's regular supervision activities. A further important reason for the increased fine is that the non-compliance persisted over a prolonged period," DNB stated.</p><p>The decision to impose the fine was made on 18 January, but the official announcement was not released to the media until 26 January.</p><blockquote class="twitter-tweet"><p lang="en" dir="ltr">DNB imposes administrative fine on Coinbase Europe Limited for providing crypto services without the legally required registration until 22 September 2022. <a href="https://t.co/wEjAez6GDs">https://t.co/wEjAez6GDs</a> <a href="https://t.co/cDzXxKRqq4">pic.twitter.com/cDzXxKRqq4</a></p>— De Nederlandsche Bank (@DNB_NL) <a href="https://twitter.com/DNB_NL/status/1618523195161858049?ref_src=twsrc%5Etfw">January 26, 2023</a></blockquote><p>Binance Paid a Similar Fine in July</p><p>The Dutch regulator <a href="https://www.financemagnates.com/cryptocurrency/regulation/binance-fined-33-million-by-dutch-central-bank/" target="_blank" rel="follow">imposed an identical fine on Binance last July</a>. Binance was required to pay a penalty of €3.3 million for offering local investors access to cryptocurrency services without proper regulation.</p><p>DNB's explanation at the time was very similar: Binance is a large exchange with a sizable customer base, which used a competitive advantage in failing to comply with local regulations. The Dutch regulator pointed to the anonymity of cryptocurrencies, which can become a tool for <a href="https://www.financemagnates.com/terms/m/money-laundering/" class="terms__secondary-term" id="f30ffb65-351e-44d6-9dae-0714f08b59b2" target="_blank">money laundering</a> without proper oversight.</p><p>"The registration requirement for crypto service providers was introduced on 21 May 2020 because of the high risk of money laundering and terrorist financing associated with crypto services. This is related to the anonymity associated with crypto transactions. The registration requirement enables DNB to monitor the risk of illicit financial flows more effectively," the regulator explained.</p><p>Almost a year earlier, the DNB had issued a public warning against Binance for unauthorized activity. <a href="https://www.financemagnates.com/cryptocurrency/news/the-fcas-binance-warning-what-does-this-meaning-for-uk-crypto-regulation/" target="_blank" rel="follow">Several other regulators have published similar notices.</a></p><p>Watch the recent FMLS 2022 Executive Interview with Lory Kehoe, the Director of EMEA Business Development at Coinbase.</p><p>Coinbase Faces Crypto Winter Troubles</p><p>The fine imposed on Coinbase adds to the recent problems the platform has faced. At a time when <a href="https://www.financemagnates.com/cryptocurrency/binance-hires-when-coinbase-cuts-employment-amidst-crypto-winter/" target="_blank" rel="follow">rival Binance is increasing its headcount</a>, Coinbase has decided to shed its workforce in the face of a prolonged cryptocurrency winter.</p><p>Due to the staff cuts, the platform <a href="https://www.financemagnates.com/cryptocurrency/coinbase-stops-operations-in-japan-due-to-market-volatility/" target="_blank" rel="follow">has decided to suspend its operations in the Japanese market</a>. All local customers must withdraw their funds and transfer them to another platform until 16 February 2023.</p><p>"Due to market conditions, our company has made the difficult decision to halt operations in Japan and to conduct a complete review of our business in the country. However, we are committed to making this transition as smooth as possible for our valued customers," Coinbase wrote in a blog post.</p><p>Many other cryptocurrency exchanges have reported job cuts in the period. <a href="https://www.financemagnates.com/cryptocurrency/crypto-platform-luno-sheds-35-of-workforce/" target="_blank" rel="follow">Luno announced a similar decision this week</a>, reducing its workforce by 35%. Earlier, a potential reduction was announced by Crypto.com, looking to lay off up to 20% of current employees.</p> This article was written by Damian Chmiel at www.financemagnates.com.
Source : Finance Magnates
1 days ago

StarOptions and B2G Promoter Gets 60 Months in Prison for Fraud

<p>On Tuesday, the federal court in Brooklyn sentenced John DeMarr to 60 months in prison for his role in a multi-million dollar cryptocurrency and <a href="https://www.financemagnates.com/forex/aviv-talmor-gets-4-years-in-prison-for-22-million-utrade-fraud/" target="_blank" rel="follow">securities fraud scheme</a>. The sentencing came after DeMarr pled guilty to one count of conspiracy to commit securities fraud in July 2021.</p><p>Additionally, the court ordered DeMarr to pay more than $3.5 million in damages along with the prison sentence.</p><p>StarOptions and B2G Promoter Gets 60 Months in Jail</p><p>According to the court documents, DeMarr was a promoter of several digital asset-related companies. He conspired with others to defraud investors by luring them to their companies, Start Options and B2G, with false and misleading representations. </p><p>They promoted Star Options as an online investment platform that provides cryptocurrency mining, trading, and digital asset trading services. At the same time, B2G was touted as an 'ecosystem' allowing users to trade B2G tokens, offer <a href="https://www.financemagnates.com/terms/s/staking/" class="terms__main-term" id="ebfdd4d9-00b3-41ff-bff5-878cd2eb105f" target="_blank">staking</a>, and trade digital and fiat currencies. Both these platforms were fraudulent, the US Department of Justice highlighted.</p><p>Another Too Good to Be True Scheme</p><p>DeMarr and his co-conspirators falsely claimed that the investors' funds would be invested in digital asset mining and trading platforms, earning massive profits. They even paid for celebrity endorsements. One unnamed actor famous for martial arts films made in the 1980s and 1990s even became a promoter and celebrity spokesperson of the scheme and falsely claimed that B2G could generate an 8,000 percent return in one year. Further, the perpetrators used other celebrity endorsements to promote Start Options.</p><p>However, in reality, none of the investor funds was invested. Instead, the perpetrators diverted the funds into their own accounts and used them for personal expenses and purchasing luxury items, including cars and jewellery.</p><p>"DeMarr took advantage of those who trusted him, persuading them to double down on their investments when he knew that his cryptocurrency companies and their dubious celebrity endorsements were scams being used to fund his lavish lifestyle," said Breon Peace, US Attorney for the Eastern District of New York.</p><p>"The victims ultimately lost everything, so it is appropriate that DeMarr lose his freedom for concocting this fraud."</p><p>Check out the latest FMLS22 session on "Digital Assets’ Marketing Under A Magnifying Glass."</p><p>The Rise in Crypto Scams</p><p>The growing popularity of <a href="https://www.financemagnates.com/terms/c/cryptocurrencies/" class="terms__secondary-term" id="b091101e-6e02-4b36-aa0e-7c972dfdd6ed" target="_blank">cryptocurrencies</a> has also encouraged fraudsters to up their efforts in scamming investors. The number of scam tokens has risen exponentially over the years. According to a Solidus Labs report, 125,084 scam tokens were deployed last year compared to only 83,368 in the previous year.</p><p>Further, data from the UK police revealed that cryptocurrency frauds in the country <a href="https://www.financemagnates.com/cryptocurrency/cryptocurrency-fraud-in-uk-rises-by-32-to-270m/" target="_blank" rel="follow">jumped by 32 percent</a> between October 2021 and September 2022 to £226 million. Meanwhile, the UK court recently <a href="https://www.financemagnates.com/cryptocurrency/uk-sends-a-gang-of-four-to-prison-for-21m-crypto-fraud/" target="_blank" rel="follow">sent four individuals to prison for 15 years</a> for their role in causing a loss of £21 million to an Australian cryptocurrency exchange.</p> This article was written by Arnab Shome at www.financemagnates.com.
Source : Finance Magnates
3 days ago

OneCoin Founder Ruja Ignatova Is Back after 5 Years in Hiding

<p>Ruja Ignatova, the Founder and mastermind behind the OneCoin crypto fraud, allegedly resurfaced after vanishing for <a href="https://www.financemagnates.com/cryptocurrency/news/finnish-authorities-take-aim-onecoin-re-launching-investigation/" target="_blank" rel="follow">more than five years</a>. Last week's property listing in central London exposed a 42-year-old German citizen of Bulgarian origin.</p><p>Ruja Ignatova, the OneCoine Founder, Leaves a Trace</p><p>According to information first reported by iNews, the name and surname of the 'cryptoqueen' appeared in real estate documents regarding a property in the London suburb of Kensington, England. </p><p>Ignatova purchased the penthouse for her company, but new regulations in the UK require to list the name of the 'beneficial owner'. It forced the criminal to come out of hiding as she had to be officially named on the document alongside her shell firm.</p><p>Prestigious property retailer Knight Frank advertised the £11 million property. However, the listing was removed after media reports showed the connection between the penthouse and the wanted criminal.</p><p>Why is this information so important? It suggests that Ignatova is still alive and that real estate documents might contain clues about her last whereabouts. Even if she cannot be captured, the property could be used to repay some of her victims.</p><p>Watch the recent FMLS22 panel on reimagining the crypto market structure.</p><p>The History of OneCoin</p><p>Ruja Ignatova has become extremely popular with international investigative bodies in recent years. She has made it onto the FBI's list of the ten most wanted criminals and <a href="https://www.financemagnates.com/cryptocurrency/news/onecoin-founder-ruja-ignatova-named-among-europes-most-wanted/" target="_blank" rel="follow">has been named by Europol as one of the most wanted fugitives</a>.</p><p>Ignatova and her business partner Sebastian Greenwood launched the OneCoin cryptocurrency in 2014, advertising it as the future '<a href="https://www.financemagnates.com/terms/b/bitcoin/" class="terms__main-term" id="261088a9-0f41-4202-a73c-31f75ba6bd93" target="_blank">bitcoin</a> killer'. OneCoin turned out to be one of the largest cryptocurrency scams in history, spreading to 175 countries where investors lost an estimated $5 billion.</p><p>According to US court documents, the pyramid scheme's services may have been used by 3 million people at its peak, with total revenue of almost $4 billion between 2014 and 2016.</p><p>Investors were attracted by the vision of high, even tenfold, returns on their initial investment. However, most of them never saw their money again, and Ignatova and Greenwood disappeared in 2017. The accomplice was arrested in July 2018 in Thailand and extradited to the United States. <a href="https://www.financemagnates.com/cryptocurrency/onecoin-co-founder-karl-greenwood-pleads-guilty-to-wire-fraud/" target="_blank" rel="follow">He will be sentenced in April</a> this year and faces 20 years in prison.</p><p>A year later, Ignatova's nephew, <a href="https://www.financemagnates.com/cryptocurrency/news/onecoin-investors-settle-with-co-mastermind-konstantin-ignatov/" target="_blank" rel="follow">Konstantin Ignatova</a>, who tried to run a further financial pyramid scheme after his sister's escape, was also put behind bars. He will be sentenced next month and is charged with <a href="https://www.financemagnates.com/terms/m/money-laundering/" class="terms__secondary-term" id="f30ffb65-351e-44d6-9dae-0714f08b59b2" target="_blank">money laundering</a> and fraud conspiracy.</p><p>In 2020, the US court convicted Mark Scott, OneCoin's former lawyer. <a href="https://www.financemagnates.com/cryptocurrency/news/onecoin-lawyer-mark-scott-banned-from-practicing-law-in-new-york-state/" target="_blank" rel="follow">Scott allegedly helped to launder $400 million</a> of Ignatova's fraudulently acquired money and received more than $50 million in commission for his involvement. </p> This article was written by Damian Chmiel at www.financemagnates.com.
Source : Finance Magnates
6 days ago

What Next for PFPs, Art and Big Brand NFTs?

<p>While still far from the kind of dizzying bull run that characterized 2021, NFTs have been enjoying an optimistic start to the year. There’s no froth, at the moment, and the atmosphere is relaxed, but there’s plenty of development, trades are happening, and some collections have seen their prices buoyant and rising.</p><p> Underlying all this, there are a couple of prevalent sentiments. First, is that creativity is flowing cleanly, as developers build, artists provide color, and founders seek out more efficient ways of utilizing the tools at hand to produce lasting value. Second, there is a sense that because so much is in motion (in terms of developer and artistic activity), any spark in the wider crypto markets can quickly ignite the NFT space, setting off renewed surges in speculation.</p><p> Rewind a couple of years, and NFTs were in a simpler state than they are now, but here in 2023, distinct categories have emerged. Let’s consider how some of those brackets might develop from here.</p><p>PFPs</p><p>If any category captures NFTs as they have appeared in the public consciousness up to now, then it’s profile pictures (PFPs). These are the generative collections of matching characters, usually facing to one side, but each with its own features and variations, which are utilized as identity markers on social media.</p><p>The most famous collections seem capable now of consistently maintaining status as prized assets. CryptoPunks (the original 10,000 item PFP collection) are art objects in their own right. Bored Ape Yacht Club (BAYC) has become the foundation of a budding <a href="https://www.financemagnates.com/tag/web3/" target="_blank" rel="follow">web3</a> empire. And several other collections, such as Doodles, which recently acquired the animation studio Golden Wolf, and Azuki, which this month launched its own metaverse space, appear intent, like BAYC, on expanding beyond the parameters of static PFPs.</p><p> There are other projects strongly in the running too (one could point to Cool Cats, Renga, and the Nike-affiliated CloneX as realistic contenders), but it appears now that any new PFP collection that wants to stick around long-term needs to have expansion plans ready to go and be meticulously executed.</p><p> It was PFPs that brought <a href="https://www.financemagnates.com/tag/nfts/" target="_blank" rel="follow">NFTs</a> to mainstream awareness, but NFTs, it seems, are ready to move past PFPs.</p><p>Works of Art</p><p>The art section of the NFT space increasingly feels like a market of its own, with its own distinct dynamics, and it has an atmosphere in common with traditional art markets. That said, trade in NFT art is tangibly enhanced by the benefits of working digitally on blockchains.</p><p> Still, art NFTs will always revolve around creator credentials, utility and empire-building are secondary considerations, and as long as the artist remains prestigious and collectible, then so do the tokens to which their work is attached.</p><p>Something of note around art NFTs is their tie-ins with real-life galleries and physical events. On this note, the famed generative art NFT platform Art Blocks has been busy. Last year, Art Blocks began a partnership with Pace Gallery, and this week, a partnership with Bright Moments was announced. That latter organization, Bright Moments, specializes in organizing NFT minting events in physical, real-world galleries.</p><p> This direction, bringing together digital NFT-connected art with physical events and traditional venues, seems likely to continue.</p><p>Check out the FMLS22 session on NFTs for Fintechs "From Asset class to the Machinery of Ownership."</p><p>Web3 Culture and Big Names</p><p>A striking difference between NFTs a couple of years ago and the landscape now is the presence of brands and big names coupled with an emphasis on practical utility. This is in contrast to the niche-tech, almost avant-garde quality of NFTs in 2021 and earlier when tokens seemed like a visual crypto experiment and pixel art JPEGs were swapped on the Ethereum <a href="https://www.financemagnates.com/tag/blockchain/" target="_blank" rel="follow">blockchain</a> simply because it was possible to do so.</p><p>Now, companies with clout want a professional-looking web3 presence, but brand maneuvers are bringing mixed results. One such big-name launch that didn’t go to script was the Porsche 911 NFT collection, released earlier this week.</p><p> The German car manufacturer had planned to sell 7,500 NFTs, based around its iconic 911 model, at 0.911 ETH each. The digital tokens feature a blank white 911, and the promise is that they can be artistically customized in future, and will provide further utility within Porsche’s web3 strategy.</p><p> However, demand was lacking and minting ground to a crawl at about 1,500 sales, with secondary sales concurrently taking place at below the official mint cost. Porsche responded with an announcement that the sale would close, which appeared to cause an increase in interest, and by the time minting actually halted, 2,363 NFTs had been sold. At this point, the price tag then surged on secondary markets as it became clear that supply was capped low, and the cheapest that a Porsche NFT could be picked up for rose, for a short time, to over 3 <a href="https://www.financemagnates.com/tag/ethereum/" target="_blank" rel="follow">ETH</a> or more than triple the mint cost.</p><p> While this was all unfolding, Porsche was taking heavy criticism for overpricing its launch and misunderstanding the ways in which web3 distinguishes itself from traditional models. Currently, a key concept around NFTs is the idea of onboarding users cheaply, or even for free, and then building out an engaged community, but Porsche didn’t take that route.</p><p>This story reveals how critical it is for brands to fully immerse themselves in the ideals of web3 and NFTs, including all the quickly evolving idiosyncrasies, before pushing ahead with a launch. After all, that early period when NFTs were camped out on the crypto fringes is not so long ago, and there is an understanding in the NFT space that culture and community are paramount.</p><p> What we also see is how rapidly, and with abrupt volatility, an NFT project can turn around. In this case, by halting the mint, the tokens suddenly became prized for their scarcity and the floor price soared. What’s more, while Porsche’s brand presence made it a target for criticism, that presence fueled instant demand when the supply was cut.</p><p> Perhaps one more thing we can take away is that NFTs and the broader web3 environment are fickle places in which sentiment can switch rapidly. There’s a unique mindset, distinctive customs and culture, and an ingrained aversion to more traditional ways of doing business.</p> This article was written by Sam White at www.financemagnates.com.
Source : Finance Magnates
7 days ago

Crypto Platform Luno Sheds 35% of Workforce

<p>Luno, the digital assets <a href="https://www.financemagnates.com/terms/e/exchange/" class="terms__main-term" id="b5da6e64-2afe-421d-9b81-16404b7d59d6" target="_blank">exchange</a> based in London, announced a massive workforce reduction yesterday, feeling the harmful effects of the prolonged crypto winter and turbulence in the technology industries.</p><p>Luno Cuts Massive Part of Its Team</p><p>According to Wednesday's statement, Luno decided to lay off 35% of its current staff, translating to more than 300 professionals in all regions where the crypto exchange is currently operating. The London-based company runs other offices in Cape Town, Johannesburg, Lagos, Singapore and Sydney.</p><p>"2022 has been an incredibly tough year for the broader tech industry and, in particular, the crypto market. Luno, unfortunately, hasn't been immune to this turbulence, which has affected our overall growth and revenue numbers," Marcus Swanepoel, the Co-Founder and CEO of Luno, wrote in a statement on the company's blog.</p><p>Luno says it anticipated the industry downturn and was adjusting its business model to make it resilient to unfavourable factors. However, the speed of negative changes has put considerable strain on the original plan and proved inadequate. Consequently, the company has been forced to reduce the cost base and focus on the core business. Luno reassures that there is no impact on the liquidity of the existing business and the exchange's customers.</p><p>"Thanks to those who have helped us get this far, and also to those who will continue to drive forward our critical mission of putting the power of crypto into everyone's hands," Swanepoel concluded.</p><p>Watch the recent FMLS22 panel on crypto market structure.</p><p>Digital Currency Group Says Goodbye to 500 People</p><p>Cryptocurrency exchange Luno is part of the Digital Currency Group (DCG) portfolio, which includes CoinDesk, a cryptocurrency website, HQ Digital, an asset management company and Genesis, a failed cryptocurrency lender. </p><p>DCG slashed its workforce by 13% at the beginning of the year, cutting 66 full-time positions. Another 115 jobs were slashed in two rounds of layoffs at Genesis Global Trading. Subsequently, <a href="https://www.financemagnates.com/cryptocurrency/crypto-lender-genesis-files-for-bankruptcy-in-new-york/" target="_blank" rel="follow">the company filed for</a> <a href="https://www.financemagnates.com/terms/b/bankruptcy/" class="terms__secondary-term" id="41b3ef0d-d805-441d-8443-121890264e94" target="_blank">bankruptcy</a> protection.</p><p>HQ Digital ceased operations in January 2023, which could affect the position of at least 26 people, according to LinkedIn data.</p><p>In the meantime, Coindesk is reportedly for sale, which would help DCG raise additional funds to survive the current cryptocurrency winter, which was reported by The Wall Street Journal on January 18. Interest in buying the portal was confirmed by its CEO, Kevin Worth.</p><p>Luno Joins the Crypto Layoff Wagon</p><p>The problems of Luno and DCG as a whole are not isolated. Finance Magnates has repeatedly reported about plans of a number of digital asset companies to downsize over the past few weeks.</p><p>Gemini exchange <a href="https://www.financemagnates.com/cryptocurrency/third-times-the-charm-gemini-cuts-its-workforce-once-again/" target="_blank" rel="follow">announced its third round of job cuts</a>, in which it wants to reduce its workforce by 10%. Previously, the workforce was shed in June and July when Gemini laid off roughly 17% of its professionals.</p><p>Last week, a cryptocurrency software company ConsenSys <a href="https://www.financemagnates.com/cryptocurrency/consensys-joins-crypto-layoffs-with-11-workforce-cut/" target="_blank" rel="follow">announced a similar decision</a>. It confirmed its intention to reduce its current workforce by 11%, which translates into 100 full-time positions. Earlier, Coinbase, one of the largest cryptocurrency exchanges by volume, <a href="https://www.financemagnates.com/cryptocurrency/binance-hires-when-coinbase-cuts-employment-amidst-crypto-winter/" target="_blank" rel="follow">shared plans to lay off 20%, or 950 people</a>.</p><p>The reason for cost-reducing and job-cutting is usually the same: a prolonged cryptocurrency winter, falling prices of major assets, and declining confidence in the industry after the collapse of <a href="https://www.financemagnates.com/cryptocurrency/ftx-the-rise-the-fall-and-the-reaction/" target="_blank" rel="follow">FTX in November</a> and the failure of <a href="https://www.financemagnates.com/cryptocurrency/where-is-bitcoin-heading-following-terra-luna-turmoil/" target="_blank" rel="follow">Terra in May</a>.</p> This article was written by Damian Chmiel at www.financemagnates.com.
Source : Finance Magnates
9 days ago

What Is Tokenomics and Why Is It Important?

<p class="MsoNormal">Tokenomics combined the words ‘token’ and ‘economics’ in reference to the token’s economics. </p><p class="MsoNormal">A crypto token is in its very essence a crypto coin that is based on a blockchain platform, and which can be exchanged with <a href="https://www.financemagnates.com/cryptocurrency/south-africa-mandates-risk-warnings-in-crypto-ads/" target="_blank" rel="follow">another blockchain</a>, thus providing several incentives for investors to hold it.</p><p class="MsoNormal">The term points to all of the token’s features and qualities which make it interesting from an investor’s point of view.</p><p class="MsoNormal">Each crypto token should have its tokenomics thoroughly explained in its project’s whitepaper, meaning that by reading it you should grasp the token’s functionality, objective, purpose, allocation policies, and other pertinent info about it.</p><p class="MsoNormal">Since you are about to invest in a token, especially if you are very early on in the project, you will most likely be looking at it through the lens of the project’s backer. </p><p class="MsoNormal">Accordingly, there are 4 key elements which you should be taking into consideration as far as tokenomics go.</p><p class="MsoNormal">Tokenomics Explained</p><p class="MsoNormal">Allocation and Distribution</p><p class="MsoNormal">As an investor, you will need to understand just exactly the token being distributed. The two most common ways in which tokens are generated are by either being released via fair launch or being pre-mined. </p><p class="MsoNormal">Pre-mining happens when a predetermined number of tokens are generated and distributed before going public. </p><p class="MsoNormal">They usually tend to go to project developers, team members, early investors, and so forth, meaning only strictly exclusive addresses get them at first.</p><p class="MsoNormal">Opposite to a pre-mining event is what is known as a fair launch. A fair launch happens when crypto is mined, owned, earned, and also governed by its community without having early access granted to any particular party or private allocations happening before going public.</p><p class="MsoNormal">Pre-mining is tendentially more popular amongst most crypto projects, which means that before investing, one should see if there happens to be any wallets hoarding a significant number of tokens which might greatly impact the token’s price if dumped into the market.</p><p class="MsoNormal">On the other hand, if an early project seems to be distributing tokens to a significant number of participants as means of ensuring its future development, that might be a good signal.</p><p>Supply </p><p>A token’s supply is usually looked at in three different ways: </p><ul><li>The token’s circulating supply corresponds to the number of tokens which have been issued up to the point of one’s analysis and are circulating at the time.</li><li>The token’s total supply corresponds to the number of tokens which exist at the time (excluding all which were or might have been burned).</li><li>The token’s max supply is the maximum number of tokens which can ever be created. In some cases, you will run into tokens without a determined max supply. </li></ul><p>If the circulating supply of a given token is seen to be consistently and regularly increasing by its developers, chances are that its value is bound to go up. </p><p>Opposite to that logic is when an overwhelming number of tokens get released with a seemingly abusive frequency.</p><p>Market Cap</p><p>Looking at a given token’s market capitalization will tell you the entire amount of funds which have been invested in it. </p><p>In tandem, remember to check its fully diluted market cap because that, in turn, will tell you theoretically what the token’s market cap might look like if its max supply was already in circulation.</p><p>A token with a high market cap and low circulating supply could be a hint that it might be more valuable in the future.</p><p>Inflationary or Deflationary? </p><p>It is of the utmost importance that you are aware of the token’s model. </p><p>An inflationary token will not have a max supply and, much like fiat money, can be produced throughout time.</p><p>On the other hand, a deflationary model will have a max supply set, and its max cap is guaranteed to be upheld.</p><p>Wrapping up</p><p>By looking at these 4 elements, you can begin to understand just what the project is and where it might be heading.</p><p>Understanding tokenomics is quintessential to one’s strategy as a long-term crypto investor (or project backer if you prefer to see it that way) because the factors which mold a token will certainly affect the way it behaves and is seen by the community.</p> This article was written by Pedro Ferreira at www.financemagnates.com.
Source : Finance Magnates
7 days ago

VCs Not Interested in Blockchain Anymore as Funding Almost Stopped

<p>The second half of 2022 brought a visible slump in investments from VCs (venture capitalists) across all significant blockchain industry sectors, according to the newest report published by Cointelegraph Research.</p><p>Although the value of funding raised for the entire year was greater than $5 billion, which was higher than in 2021, there was a significant slowdown between June and December. Specifically, in the last three months of the year, funding came in at only $2.3 billion and dropped to $660 million in December.</p><p>Blockchain Investments Down in H2 2022</p><p>The report categorizes the blockchain industry into five main sectors: centralized finance (CeFi), decentralized finance (DeFi), infrastructure, Web3 and nonfungible tokens (NFTs). In the first half of the year, funding tallied at $30 billion, which is almost as much as the entire year of 2021. </p><p>When it looked like the record-breaking figure would be doubled, the crypto winter and the collapse of more crypto-oriented businesses made VCs less keen to invest their funds. As a result, the total amount raised in H2 2022 was $7.23 billion, slipping progressively more each month, as shown in the chart below.</p><p>Web3 Was the Most Active Part of the Blockchain Industry</p><p>The number of transactions in the fourth quarter fell to 182, and only five exceeded $100 million. Within this group, investments in the Web3 sector, which includes Metaverse and GameFi, proved to be the most popular. In contrast, the least common were investments in NFTs and CeFi.</p><p>Throughout 2022, the <a href="https://www.financemagnates.com/tag/web3/" target="_blank" rel="follow">Web3 sector</a> accounted for 616 deals, while CeFi accounted for only 201. Interestingly, the value of funding was the same at $9.2 billion for both. Also, the average transaction for Web3 was valued at $15.4 million, while in CeFi, it was estimated at $45.6 million.</p><p>DeFi attracted $3.1 billion in 299 deals and NFTs $3 billion in 243 sales. The infrastructure sector proved to be the most profitable; of the 295 financing deals completed, companies managed to raise almost $12 billion in capital, which is an average of $40.1 million per deal.</p><p>The data was confirmed <a href="https://www.financemagnates.com/cryptocurrency/web3-startups-funding-falls-7b-in-q4-2022/" target="_blank" rel="follow">in a separate report by Crunchbase</a>. It showed that funding for Web3 startups fell by almost $7 billion in Q4 2022, from $9.3 billion to $2.4 billion. Despite the drastic descent in the latter part of the year, the entire year of 2022 turned out to be quite positive for Web3 companies.</p><p>Watch the recent FMLS22 panel discuss back-office technology in the fintech business.</p><p>Fintech Funding Falls Along with Blockchain Investments</p><p>It is not only blockchain startups and young companies that have suffered in 2022, but also the broader financial technology (fintech) sector. <a href="https://www.financemagnates.com/fintech/fintech-funding-falls-30-worldwide-to-95b/" target="_blank" rel="follow">According to Innovative Finance</a>, global support for the <a href="https://www.financemagnates.com/terms/f/fintech/" class="terms__secondary-term" id="891edcf3-475e-45f3-a8b8-3ba2e7d37339" target="_blank">fintech</a> sector has shrunk to $95 billion, or by 30%. The number of completed transactions fell by almost 1,000 to 5,263.</p><p>The UK <a href="https://www.financemagnates.com/tag/fintech/" target="_blank" rel="follow">fintech </a>industry was more resilient to adverse conditions. In the UK, the value of funding lessened by only 5% to $10.2 billion.</p><p>"London's fintech industry has consistently proven itself to be both robust and ambitious in the face of economic challenges. As businesses brace for a turbulent 2023, fintech firms can play a vital role. Our industry can and will bounce back quickly, driving growth, job creation and enabling businesses to reach their full potential," Khalid Talukder, the Co-Founder of DKK Partners, said.</p> This article was written by Damian Chmiel at www.financemagnates.com.
Source : Finance Magnates
8 days ago

Crypto Trojan Horses

<p>A Trojan Horse is an object that looks inviting or desirable but is used to smuggle in something hidden that the receiver wouldn’t otherwise have accepted.</p><p> In the world of crypto, Bitcoin’s price action has been referred to as a Trojan Horse. In this case, buyers are first attracted by the digital currency’s historically rising prices, but by holding and trading coins buyers unknowingly legitimize and organically promote Bitcoin. Thus, its true benefits, decentralization, a fixed supply and freedom from central planners, are further disseminated.</p><p> Recently, we see not only Bitcoin but other aspects of the crypto world being normalized and advanced into the mainstream, through what is growing into a diverse band of Trojan Horses, each representing a different blockchain purpose.</p><p>Crypto through Art</p><p>Go back a few years, and you wouldn’t have found many people predicting that crypto technology might be picked up for consumption through its tie-ins with the art world, but that is exactly what has been occurring.</p><p>In the world of digital art, a critical component of <a href="https://www.financemagnates.com/tag/nfts/" target="_blank" rel="follow">NFTs</a> is that they enable ownership and scarcity. There was a period, when NFTs were enjoying an initial boom, in 2021, in which cynics proclaimed them to be pointless since it was possible to simply right-click on an NFT, and then save the image to one’s own computer for free.</p><p> Ironically, digital copying was one of the precise problems that NFTs solved. While online images are endlessly replicable, there could now, through NFTs, be a definitive original: a token to which the artist had deliberately attached his work, and which was verifiable, collectible, and easily tradable. Such collecting and trade had always been possible with physical art, and now it was viable in the digital realm too.</p><p> Was it still possible to make copies? Of course, but it’s also possible to make copies of physical art, and that’s rarely a problem: original artwork suffers no loss of integrity or value due to the existence of copies. And now, through NFTs, these realities are applied to digital art just as they did to physical art.</p><p> Through the provision of on-chain provenance and by enabling digital art markets (which are, arguably more easily accessible and less elitist than traditional art markets, an unlikely arena) of artistic creativity, it is suddenly profitable to make use of the blockchain utility.</p><p>Check out this recent FMLS22 session on NFTs for Fintechs.</p><p>Crypto through Gaming</p><p>To date, the highest profile crypto-gaming project has been Axie Infinity, which averaged two million monthly players at the end of 2021 and ran through to around the middle of 2022. However, user numbers have since collapsed, and the product has been criticized for being not much more than a Ponzi-tilted means to grind out profits during a bull market, dressed up as a game.</p><p>As such, crypto has yet to prove itself as substantially beneficial to the gaming world, but it looks simply to be a matter of time before a sustainable, high-quality product emerges, with a number of web3 gaming studios working on new releases. Currently, all eyes are on a web3 gaming company called Limit Break, and its DigiDaigaku project.</p><p> In February, Limit Break will release a set of DigiDaigaku gaming NFTs, with buyers needing to scan a QR code that will be shown in a commercial during the upcoming Super Bowl. This is about as high profile as a promotion/distribution campaign can get, and may be an indicator of the kind of presence that web3 gaming can achieve.</p><p> It’s an approach that unapologetically utilizes NFTs to create community and hype while remaining cognizant that games themselves are the end purpose, and if it can be pulled off, then it promises, as with NFTs related to art, to open up <a href="https://www.financemagnates.com/tag/blockchain/" target="_blank" rel="follow">blockchain</a> benefits to new users.</p><p>Creating Web3 and the Metaverse</p><p>The uses outlined here are interlinked sections of a novel arena. Art and design, gaming, commerce, and online social interactions are combining, with crypto at their core, to create a new environment, held together by the capacity to exchange value without third parties.</p><p>Due to the importance of blockchains within this structure, and the payments these layers enable, this emerging edifice ushers in <a href="https://www.financemagnates.com/tag/crypto/" target="_blank" rel="follow">cryptocurrencies</a> almost under the radar, and links closely to decentralized financial applications, which themselves buzz with speculative activity.</p><p> Nowhere else, other than in crypto, is there such a mixed-up blend of influences and backgrounds, in which discussion of yield farming and tokenomics overlaps with chatter about art, anime and AI imagery. Throw in programmers, poets and fashionistas, not to mention entrepreneurs and VCs, bundle the whole package up with some out-and-out opportunists, and it’s a guessing game as to where this ride might take us.</p><p> Furthermore, factor in the as-yet-undefined impact that Machine Learning seems poised to create, and the future becomes even more unpredictable and open to rapid transformation.</p><p> What seems likely is that all walks and disciplines stand to be influenced by and, to varying degrees, onboarded into crypto in some form. Perhaps, in the end, this emerging space, and the transaction methods it enables, is what we will come to call <a href="https://www.financemagnates.com/tag/web3/" target="_blank" rel="follow">web3</a> or the metaverse.</p><p> Some people expect a tech utopia, while others make more skeptical predictions, but most likely, as with almost all things, the reality will lie somewhere down the middle: an open, ownable, and ever-changing web that outputs a real-time reflection of what we, the users, put in.</p> This article was written by Sam White at www.financemagnates.com.
Source : Finance Magnates
8 days ago

BlockFi Has $1.2 Billon FTX, Alameda Exposure

<p>Bankrupt crypto lending platform, BlockFi has mistakenly uploaded uncensored financial information, revealing its exposure to $1.2 billion to the now-collapsed FTX and Alameda Research, <a href="https://www.financemagnates.com/cryptocurrency/blockfi-sues-sam-bankman-fried-over-robinhood-stock-collaterals/" target="_blank" rel="follow">two companies owned by Sam Bankman-Fried</a>.</p><p>BlockFi's $1.2 Billion Exposure to FTX and Alameda</p><p>As reported by CNBC, previously redacted financials of the crypto lending platform were mistakenly uploaded on Tuesday without the redactions being present in a financial presentation assembled by M3 Partners, an advisor to the creditor committee.</p><p>The unredacted filings show that BlockFi has $415.9 million in assets linked to FTX and $831.3 million in loans to Alameda as of 14 January. These figures are much higher than previous public disclosures.</p><p>Earlier, BlockFi's lawyers revealed that the bankrupt crypto lender only had a $671 million loan to Alameda and an additional $355 million in digital assets frozen on the FTX platform. It is to be noted that the value of digital assets has climbed since that disclosure, but it is far from the figures in the unredacted filings.</p><p>Check out the latest FMLS22 session on "Digital Assets’ Marketing Under A Magnifying Glass."</p><p>BlockFi Is Bankrupt</p><p>BlockFi, which <a href="https://www.financemagnates.com/cryptocurrency/crypto-lender-blockfi-files-for-bankrupty-protection-in-the-us/" target="_blank" rel="follow">filed for Chapter 11 bankruptcy</a> in November, offered interest-bearing crypto-lending products to customers. It had 662,427 users, of which around 73 percent had a balance below $1,000. In addition, the company only generated a revenue of $14 million in six months before its bankruptcy filing.</p><p>The crypto company had $302.1 million in cash and $366.7 million in digital assets, with total unadjusted assets of about $2.7 billion.</p><p>After Bankman-Fried's FTX empire collapsed, BlockFi's Founder and Chief Operating Officer, Flori Marquez, assured that "all BlockFi products are fully operational." However, the platform <a href="https://www.financemagnates.com/cryptocurrency/blockfi-halts-withdrawals-citing-lack-of-clarity-on-ftx-situation/" target="_blank" rel="follow">halted withdrawals</a> within a couple of days, followed by a bankruptcy filing.</p><p>The troubles of BlockFi started in mid-2022 with its exposure to collapsed crypto-focused hedge fund Three Arrows Capital. Then, FTX wrote a $400 million revolving credit facility to the crypto lending company as a part of a rescue plan.</p><p>Furthermore, the recent financials show that BlockFi adjusted the value of both the receivable Alameda loan and the assets connected to FTX to zero. The company has a gap of $1.3 billion in assets. However, it has only $668.8 million that are liquid and can be distributed.</p> This article was written by Arnab Shome at www.financemagnates.com.
Source : Finance Magnates
2 days ago

6 Consensus Mechanisms You Need to Know

<p class="MsoNormal">Understanding what consensus mechanism are and what they do can be a difficult task for those not in touch with blockchain technology. </p><p class="MsoNormal">However, as you get involved with specific coins, you will certainly need to understand how things operate behind the scenes and how proof of work, proof of stake, and many other mechanisms work, so let’s get to it!</p><p class="MsoNormal text-align-start">Afterall, if you want the dough to rise, you'll need proofing.</p><p>What Are Consensus Mechanisms?</p><p class="MsoNormal">Consensus mechanisms can greatly vary in form but must always achieve, as the name clearly puts it, consensus.</p><p class="MsoNormal">As such, and to put things in simpler terms, a consensus mechanism is a fancy way of saying “this is the way we are going to do things to make sure everyone is on the same page.”</p><p class="MsoNormal">In turn, when applying that concept to the blockchain and cryptocurrencies, it means that people agree on the state of blockchain, a state which can include individual transactions, data, smart contracts, and so forth. </p><p class="MsoNormal text-align-start">While some people tend to focus on the <a href="https://www.financemagnates.com/cryptocurrency/education-centre/proof-of-stake-vs-proof-of-work-the-differences-explained/" target="_blank" rel="follow">2 biggest ones</a>, there are many other different models of achieving consensus.</p><p class="MsoNormal">As such, by knowing these 6, even if just briefly, you will certainly get a clearer picture of how all the big coins are handling things.</p><p>Proof of Work (PoW) </p><p class="MsoNormal">Arguably the most famous consensus mechanism, the proof of work mechanism, is employed by Bitcoin.</p><p class="MsoNormal">The main idea behind proof of work is to use a computer to prove that it put in a lot of work and, the more work you put in, the better the chances of winning a block reward. </p><p class="MsoNormal">Anyone can participate with his or her computer, but the more powerful computers one has, the more likely they are to win blocks. </p><p class="MsoNormal">One of the main reasons for proof of work works so well is that if one wanted to attack the network to, for example, give him or herself free tokens, he or she would then have to control 51% of all the computer power, making it nigh impossible to do so as trillions of dollars would be necessary to achieve such a feat.</p><p>Proof of Stake (PoS) </p><p class="MsoNormal">The easiest way of conveying the difference between the Proof of Work and the Proof of Stake mechanisms is that in PoW competition makes it so that only the one who crosses the finish line gets his or her reward, while in PoS only one participant gets chosen. </p><p class="MsoNormal">This makes it so that when dealing with the PoW consensus mechanism one must consider that participants who are putting their work in may simply not get anything in return, making it very similar to a luck game. </p><p class="MsoNormal">When comparing these two mechanisms, one can easily see that Proof of Stake keeps its energy consumption to a minimum. </p><p class="MsoNormal">As for the 'stake' part, in order to participate, one must stake a predetermined number of coins which you have to lock up to inform and allow the network to select him or her. </p><p class="MsoNormal">The more you stake, the more likely you are to be selected for the next block.</p><p class="MsoNormal">Locked up tokens can be taken away from participants if bad misconduct or mischief is found. As such, participants are greatly incentivized not to lie. </p><p>Delegated Proof of Stake (DPoS) </p><p class="MsoNormal">Very similar to PoS, but instead of anyone becoming a validator, he or she can use their coins to vote on someone else to become one. </p><p class="MsoNormal">By doing so, a person who might not have a stable internet connection or a round-the-clock working computer can still lock up their coins, vote on someone who has better conditions, and earn staking rewards without having to set up a validator node.</p><p class="MsoNormal">The DPoS thus achieves democracy on the blockchain as delegators trust that people will vote on their behalf. Moreover, this way, validators are ensured to be reputable and trustworthy.</p><p>Proof of Space and Time (PoST)</p><p class="MsoNormal">Also known as Proof of Capacity, the PoST is a consensus mechanism which uses digital storage space as a requirement to participate in the network. </p><p class="MsoNormal">In short, these models set up a way to put information or encrypted data on participants' hard drives and will periodically and randomly check to see if it is still there.</p><p class="MsoNormal">Participants are paid in the network’s native coin for their work in storing data.</p><p>Proof of Weight (PoWeight)</p><p class="MsoNormal text-align-start">The PoWeight considers some value of weight as a means of attributing rewards. It can ponder on things, such as how many coins a user has in his or her wallet, how long he or she has them, how much data are they storing, and so forth.</p><p>Proof of Authority (PoA)</p><p class="MsoNormal">The PoA consensus mechanism, also known as proof of reputation, is derivative of the proof of stake mechanism. </p><p class="MsoNormal">However, participation isn’t open to anyone who wishes to do so. Instead, the PoA method only employs a few select nodes. These are reliable, trustworthy nodes which aren’t usually anonymous.</p><p>Wrapping up</p><p class="MsoNormal">As William Golding once wrote in the classic novel Lord of the Flies: “We need an assembly, not for cleverness, but for setting things straight.”</p><p class="MsoNormal">As you’ve probably figured out, the consensus mechanism somewhat does both things as it is a very clever way of setting things straight. </p><p class="MsoNormal">Accordingly, if you understand how each mechanism works, you’ll be much better able to navigate through blockchain tech and cryptocurrency overall. </p> This article was written by Pedro Ferreira at www.financemagnates.com.
Source : Finance Magnates
1 days ago

Inflows into Crypto Investment Products Hit Highest since FTX Collapse

<p>The average weekly inflows into digital asset-based investment products reached $36.8 million in January, which is the highest since the collapse of the once-leading crypto exchange, FTX, in November last year. The new height comes months after <a href="https://www.financemagnates.com/cryptocurrency/troubled-ftx-files-for-bankruptcy-as-ceo-bankman-fried-resigns/" target="_blank" rel="follow">FTX’s bankruptcy</a> led to a crypto withdrawal frenzy.</p><p>CryptoCompare, a UK-based crypto market data provider, disclosed these numbers on Wednesday in its Digital Asset Management Review for January 2023. According to the data provider, the total assets under management (AUM) of digital asset investment products also improved by 36.8% month-over-month in January, reaching $19.7 billion. The firm noted the figure is the highest AUM on record since May 2022.</p><p>“The bullish sentiment was driven by liquidated short positions and a favorable macro environment, reflected in the most recent CPI announcement, which saw Bitcoin's price reach $23,000; its highest level since August 2022,” CryptoCompare explained.</p><p>However, despite the improvement, the AUM still falls “considerably” short of total assets under management posted in January last year. This comes as a result of the downtrend experienced in the crypto and traditional asset markets in 2022.</p><p>“In January 2023, average daily aggregate product volumes across all digital asset investment products saw a decent recovery, rising 30.0% to $72.5mn. Despite this, volumes are still 84.4% lower compared to January 2022 and 95.2% lower than the all-time high recorded in January 2021,” CryptoCompare explained.</p><p>Watch the recent FMLS22 session on the crypto market structure.</p><p>Grayscale Okay Despite Troubles at Genesis</p><p>According to data shared by CryptoCompare, Grayscale’s Bitcoin Trust (GBTC) continued to top the Bitcoin trust market in January as its assets under management increased by 38.4% to $14.5 billion month-over-month. GBTC is managed by Grayscale Investment, a digital asset manager and a subsidiary company of the Digital Currency Group (DCG).</p><p>Grayscale Investments’ bitcoin trust remains strong “despite the uncertainty surrounding Genesis Trading," CryptoCompare said. In mid-November, the crypto lender Genesis Global Capital, which is owned by DCG, faced a 'liquidity crunch' and <a href="https://www.financemagnates.com/cryptocurrency/crypto-lender-genesis-files-for-bankruptcy-in-new-york/" target="_blank" rel="follow">sought a $1 billion emergency loan</a>. However, over two weeks ago two lending subsidiaries of the firm <a href="https://www.financemagnates.com/cryptocurrency/crypto-lender-genesis-files-for-bankruptcy-in-new-york/" rel="follow" target="_blank">filed for bankruptcy protection </a>before a Manhattan court.</p><p>In addition, the crypto exchange Gemini is <a href="https://www.financemagnates.com/cryptocurrency/winklevoss-feud-with-genesis-leads-to-earn-users-class-action-request/" target="_blank" rel="follow">battling with Genesis</a> over the payment of a $900 million debt under the Gemini Earn programme. Moreover, three Gemini Earn customers recently <a href="https://www.financemagnates.com/cryptocurrency/winklevoss-feud-with-genesis-leads-to-earn-users-class-action-request/" target="_blank" rel="follow">filed a class action arbitration request</a> against Genesis for allegedly failing to return Gemini Earn users’ assets. Compounding the situation, the US Securities and Exchange Commission recently <a href="https://www.financemagnates.com/cryptocurrency/sec-takes-gemini-genesis-to-court-for-selling-unregistered-securities/" target="_blank" rel="follow">charged both Gemini and Genesis</a> for allegedly selling unregistered securities.</p><p>“Despite the growth in assets under management and trading volume, the discount associated with Grayscale’s GBTC Trust has only slightly narrowed. The situation remains delicate, as Grayscale faced challenges with the bankruptcy announcement of its sister company Genesis due to exposure to FTX in January, and the ongoing lawsuit against the SEC to convert its Bitcoin Trust into an ETF,” CryptoCompare explained.</p> This article was written by Solomon Oladipupo at www.financemagnates.com.
Source : Finance Magnates
3 days ago

ASIC Had FTX Australia Under Surveillance Before Collapse

<p>The Australian financial market regulator ASIC was suspicious about the activities of the local subsidiary of FTX from at least six months before the collapse of the <a href="https://www.financemagnates.com/terms/c/cryptocurrency-exchange/" class="terms__main-term" id="601e2e5f-0c28-4253-9ad4-5e6b251ba2fa" target="_blank">cryptocurrency exchange</a> in November.</p><p>ASIC Had FTX Australia Under Surveillance</p><p>According to documents gathered by Guardian Australia, the Australian Securities and Investments Commission (ASIC) was concerned about the operations of FTX Australia, which obtained an Australian Financial Services (AFS) license by acquiring a local financial institution IFS Markets in December 2021. FTX Australia <a href="https://www.financemagnates.com/cryptocurrency/news/ftx-forms-australia-unit-to-offer-regulated-crypto-products-locally/" target="_blank" rel="follow">launched its services for Aussies</a> last March.</p><p>The takeover of an existing AFS license holder allowed FTX Australia to sidestep extensive scrutiny of the regulator. <a href="https://www.financemagnates.com/cryptocurrency/asic-suspends-ftxs-afs-license/" target="_blank" rel="follow">ASIC suspended FTX Australia’s AFS license</a> after Sam Bankman-Fried’s larger FTX empire collapsed. </p><p>Additionally, FTX put its Australian companies under voluntary administration and now owes around $1 million to its customers which number around 3,000.</p><p>Check out Finance Magnates' interview with Sam Bankman-Fried before the FTX collapse.</p><p>Three ASIC Notices</p><p>The documents revealed that the Aussie regulator issued a Section 912C notice to the crypto exchange last March, the same month it launched local services, asking for information about its operations. With the notice, ASIC can check if the service provided by a company satisfies the regulator’s “fit and proper person test.”</p><p>Another document confirmed that ASIC issued three notices to FTX Australia before the collapse and put it under “surveillance activity.” Moreover, the Aussie regulator was concerned about the exchange in October, weeks before Bankman-Fried’s vulnerable FTX empire was exposed.</p><p>“Since March 2022, Asic [made] enquiries with FTX Australia about the financial products offered by FTX Australia. The issues raised included pricing, FTX Australia’s compliance with ASIC’s [contract for differences] product intervention order, and its onboarding of clients,” an ASIC spokesperson told the publication.</p><p>“ASIC’s review of these matters was ongoing as at the time that external administrators were appointed to the Australian FTX entities.”</p><p><a href="https://www.financemagnates.com/cryptocurrency/troubled-ftx-files-for-bankruptcy-as-ceo-bankman-fried-resigns/" target="_blank" rel="follow">FTX and more than 130 affiliates are now undergoing insolvency</a> in the United States. Bankman-Fired, who is now facing criminal charges, was replaced by John Ray as the CEO of FTX. Meanwhile, the bankruptcy administrators are trying to get control of $3.5 billion in cryptocurrencies belonging to FTX customers currently in control of the Bahamas financial market regulator.</p> This article was written by Arnab Shome at www.financemagnates.com.
Source : Wallet Invester
1592 days ago

Bitcoin $6692.560 – CryptoCurrency Trading Report – 24.09.2018 00:07

Hot news: These are the changes of the CryptoCurrency market in the last one hour.

Bitcoin is now leading the rank on the most popular digital currency in the trade market. It has an increase of 0.05% in its exchange rate from 6689.215 dollars now at 6692.560 dollars. Tether is next to the leading crypto Bit..

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Source : Wallet Invester
1592 days ago

Bitcoin $6687.450 – CryptoCurrency Trading Report – 24.09.2018 01:07

Hot news: Here we summon for you the changes of the market of CryptoCurrency from the last 60 minutes.

The number one cryptocurrency leader is Bitcoin, this data was fetched in the last hour. It has an decrease on its trade value to -0.2%, now at 6687.450 dollars from 6700.852. Tether is at the second positi..

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Source : Wallet Invester
1592 days ago

Bitcoin $6709.780 – CryptoCurrency Trading Report – 24.09.2018 02:07

Hot news: These changes have happened in the last hour.

Bitcoin was in the top position in the last hour, the exchange rate increases from 6689.711 dollars to 6709.780. This is a 0.3% recorded change. Bitcoin is followed by Tether, with a -0.07% tumble on its trade value in the last one hour, equivalent to 0..

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Source : Wallet Invester
1592 days ago

Bitcoin $6709.350 – CryptoCurrency Trading Report – 24.09.2018 03:07

Hot news: Here we summon for you the changes of the market of CryptoCurrency from the last 60 minutes.

Bitcoin was in the top position in the last hour, the exchange rate decreases from 6710.021 dollars to 6709.350. This is a -0.01% recorded change. Tether is at the second position next to Bitcoin, with a re..

The post Bitcoin $6709.350 – CryptoCurrency Trading Report – 24.09.2018 03:07 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1592 days ago

Bitcoin $6704.570 – CryptoCurrency Trading Report – 24.09.2018 04:07

Hot news: Now we show you the newest summary of 60 minutes.

Bitcoin is now leading the rank on the most popular digital currency in the trade market. It has an decrease of -0% in its exchange rate from 6704.570 dollars now at 6704.570 dollars. Bitcoin is seconded by Tether, in a 60 minutes time it has a drop..

The post Bitcoin $6704.570 – CryptoCurrency Trading Report – 24.09.2018 04:07 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1592 days ago

Bitcoin $6686.310 – CryptoCurrency Trading Report – 24.09.2018 05:07

Hot news: There were a lot of happenings in the last 60 minutes on the Crypto stock exchanges.

Bitcoin is listed as the most popular cryptocurrency in the market. In the last sixty minutes, it had an downswing of -0.19% on its trading price. This means from 6699.038 dollars now at 6686.310 dollars. Tether is..

The post Bitcoin $6686.310 – CryptoCurrency Trading Report – 24.09.2018 05:07 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1592 days ago

Bitcoin $6674.850 – CryptoCurrency Trading Report – 24.09.2018 06:07

Hot news: Here you can read the new CryptoCurrency report of the last 60 Minutes.

Bitcoin is leading the rank in the last hour as the most popular crypto currency in the trade market, with a recorded fall on its value of about -0.12% in the last hour with a current standing rate of 6674.850 dollars from 6682..

The post Bitcoin $6674.850 – CryptoCurrency Trading Report – 24.09.2018 06:07 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1592 days ago

Bitcoin $6640.360 – CryptoCurrency Trading Report – 24.09.2018 07:08

Hot news: Here we summon for you the changes of the market of CryptoCurrency from the last 60 minutes.

In the last hour, Bitcoin is leading the cryptocurrency rank. A fall in the exchange rate was seen from 6663.014 dollars to 6640.360 dollars a -0.34% change. Next to Bitcoin is Tether in the second position..

The post Bitcoin $6640.360 – CryptoCurrency Trading Report – 24.09.2018 07:08 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1592 days ago

Bitcoin $6668.000 – CryptoCurrency Trading Report – 24.09.2018 08:08

Hot news: The summaries of the last one hour are the followings:

Bitcoin is leading the rank on the most popular crypto-currency, it has an upsurge of 0.12% in its exchange rate, which means 6668.000 dollars from the 6660.008 dollars earlier. Tether is in the second position as Bitcoin leads the first spot. ..

The post Bitcoin $6668.000 – CryptoCurrency Trading Report – 24.09.2018 08:08 appeared first on CryptoCurrency Blog.

Source : Wallet Invester
1592 days ago

Bitcoin $6609.990 – CryptoCurrency Trading Report – 24.09.2018 09:08

Hot news: These changes have happened in the last hour.

In the last one hour Bitcoin is leading the record of among the most popular crypto-currency in the trading ecosystem, it has an decrease of -0.33% from its previous value from 6631.875 dollars now at 6609.990 dollars exchange rate. Next to Bitcoin is T..

The post Bitcoin $6609.990 – CryptoCurrency Trading Report – 24.09.2018 09:08 appeared first on CryptoCurrency Blog.

Source : CryptoNinjas
177 days ago

Crypto risk & intel platform Merkle Science extends its Series A to over $24M

Merkle Science, a predictive crypto risk and intelligence platform, today announced an extension of more than $19 million to its Series A funding round, this now brings the total raised to over $24 million. New investments will help accelerate the company’s growth and be used for expansion across the U.S. and Europe, as well as […]

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Source : CryptoNinjas
177 days ago

“Move-and-earn” app STEPN to utilize LINE Blockchain for the Japanese market

LINE, the Japanese corporation specializing in mobile technologies, announced today that LINE Xenesis and Find Satoshi recently concluded an MOU aiming to utilize LINE Blockchain in the localization of STEPN for the Japanese market. STEPN is a “move-and-earn” blockchain game that lets players earn crypto assets equivalent to the number of steps they’ve taken. Since […]

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Source : CryptoNinjas
176 days ago

BitPay teams with Dosh to enable cashback rewards on crypto debit card

BitPay, the bitcoin and crypto payment processing platform, announced today that users of its BitPay Card will now be rewarded with automatic cashback rewards when swiping the card at thousands of retailers. Thanks to a new partnership with Dosh, when spending with the BitPay Card, users will see crypto cashback rewards add up directly in […]

The post BitPay teams with Dosh to enable cashback rewards on crypto debit card appeared first on CryptoNinjas.

Source : CryptoNinjas
176 days ago

Brazil payment app PicPay launches new crypto exchange service with Paxos technology

PicPay, a Brazil-based payment app, has announced will now allow its users to buy, sell and hold cryptocurrencies, in its first foray into the crypto market. Today, PicPay launches its cryptocurrency exchange service, which initially supports trading of Bitcoin and Ethereum, as well as USDP. The exchange is operated in partnership with Paxos, a blockchain […]

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Source : CryptoNinjas
175 days ago

New Serum powered DEX for Solana from Vybe Network launches

Today it was announced from the Serum community the launch of Vybe DEX, a data-driven trading interface powered by Serum’s central limit order book & matching engine, built by Vybe Network. Vybe Network is a data infrastructure solution that enables the Solana community to query, index, and share on-chain data to build web3 dApps and […]

The post New Serum powered DEX for Solana from Vybe Network launches appeared first on CryptoNinjas.

Source : CryptoNinjas
175 days ago

SynFutures plans to integrate with Router Protocol to improve multi-chain access

SynFutures, a decentralized derivatives exchange, announced today a new partnership with Router, a cross-chain protocol that enables fund transfer, asset swaps, and cross-chain applications. The projects will work together to expand their respective ecosystems and explore integration, taking a crucial step in SynFutures’ mission to become a multi-chain trading platform. Cross-chain, or blockchain interoperability, refers […]

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