The new world of Digit asset (cryptocurrency) has witnessed a massive growth in various part of the world starting from the European nations to Asia and down to the Africa continent. The digital currency which is designed to tackle the issue of third party and physical transactions is structured in a decentralised and centralised Exchange
The United Kingdom has suspended plan to lunch the governmental backed “NFT for Britain” which was proposed by the British prime minister, Rishi Sunak. In regard to a question raised by a conservative politician Harriett Baldwin, Andrew Griffith who is the Treasury’s economic secretary confirmed that: “In consultation with HM Treasury, the Royal Mint is not proceeding with
First Citizens Bank, a North Carolina-based bank, is set to acquire Silicon Valley Bank’s deposits and loans following the latter’s collapse in March 2023. The Federal Deposit and Insurance Corporation (FDIC) approved the purchase and assumption agreement, which includes the acquisition of $72 billion of Silicon Valley Bridge Bank, National Association’s assets at a discount
Binance USD (BUSD), a stablecoin pegged to the U.S. dollar, endured over $500 million in outflows in the roughly 24 hours since a U.S. lawsuit was filed against Binance and CEO Changpeng Zhao, data from CryptoQuant shows. This rush to the exits is quite a bit smaller than that seen following the February crackdown on
The survival of any organization depends on its ability to outperform competitors and marketplaces in attracting and rewarding talent, ideas and capital. As communication and transaction costs have drastically declined because of the internet, new platforms have emerged, delivering goods and services at a speed and efficiency previously unimaginable. These new digital players took advantage
MicroStrategy (MSTR), a software company that was co-founded by crypto advocate Michael Saylor and that holds a large amount of bitcoin (BTC), prepaid the remaining principal on its $205 million loan from failed, crypto-focused Silvergate Bank, according to a filing with the U.S. Securities and Exchange Commission on Friday. In addition, MicroStrategy said it purchased
Large crypto-asset transfers from anonymous self-hosted wallets would be banned under plans set to be voted on by European Union lawmakers on the 28th of March. On Tuesday, the European Parliament’s Economics and Civil Liberties Committees are set to vote on new anti-money laundering (AML) plans after wrangling for months about how to stop cryptocurrencies,
Venezuela has shut down several crypto mining facilities and exchanges as part of an ongoing investigation into alleged government corruption. The move is a measures taken by the government to crack down on cryptocurrency activity. Furthermore, the closure which was ordered by the Venezuelan National Superintendency of Crypto Assets and Related Activities (SUNACRIP), is believed to be
The web3 game developer Animoca, has denied recent reports that it has scaled back its metaverse fund target and experienced a significant drop in its valuation. The venture capital firm denied claims that it had reduced its metaverse fund target by $200 million, or 20%, to $800 million amid volatility in the crypto market and instability
Towards the upcoming G7 meeting in Hiroshima this May, Japan, The United States, The United Kingdom, Canada, France, Germany, and the European Union are expected to collaborate to provide a cooperative strategy for tougher global cryptocurrency regulations. The plan follows the collapse of the major cryptocurrency exchange FTX in November, which has laid bare the poor governance
Do Kwon, who was recently arrested at Podgorica airport in Montenegro for attempting to fly to Dubai using fake documents. Following his arrest, the Montenegrin court approved a 30-day extension to Kwon’s detention period, which is longer than the usual 72-hour period allotted by authorities. The legal team representing Kwon confirmed that they will be appealing against the Montenegrin court’s
An optimism-based decentralized finance (DeFi) platform, Kokomo Finance has perpetrated an exit scam, stealing nearly $4 million in users’ funds through “exit scam” over the weekend. According to blockchain security firm CertiK, Kokomo’s developers deployed an attack contract cBTC from the main address of the KOKO native token on Sunday, and then resetted the reward
North Carolina-based First Citizens has agreed to buy Silicon Valley bank from us regulators, the Fedral Deposit Insurance Corporation (FDIC) which took over the lender earlier this month as depositors raced to withdraw money. First Citizens also agreed to buy all of SVB’s deposits and loans, as well as a large portion of its assets, leaving
Deutsche WertpapierService Bank (Dwpbank), which provides securities processing services to approximately 1,200 banks in Germany, is launching a new platform called wpNex. This platform will allow all of its affiliate banks’ retail customers to access Bitcoin without requiring additional Know Your Customer (KYC) procedures. The new service will enable customers to hold crypto accounts alongside
The famous pro-XRP lawyer John Deaton proposed that the Ripple blockchain approaches banks or money transmitters with an offer to significantly reduce the fees they charge for international money transfers using blockchain technology. Deaton made this proposition in reply to a report that the Ripple network processed nearly $1 billion in four seconds with a
The hacker behind Euler Finance’s $200 million exploit earlier this month sent back a majority of the stolen funds to the protocols today. Data from blockchain explorer Etherscan shows over 51,000 ether, valued at nearly $90 million as of Saturday, was sent back to the Euler deployer contract in early U.S. hours. However, the exploiter
Binance, the world’s largest cryptocurrency exchange, has faced accusations of enabling money laundering and facilitating criminal activities in the past. In response to the FTX scandal, Binance has made significant efforts to enhance transparency in the industry. However, a recent CNBC investigation suggests that Binance insiders are allegedly abetting users in China to bypass the
The Securities and Exchange Commission (SEC) issued coinbase a Wells notice, warning the company that it identified potential violations of U.S. securities law. The SEC futher alleged that the company’s staking products constitute unregistered securities. In regard to this, coinbase mentioned that the issue is “an undefined portion of our listed digital assets, our staking service Coinbase Earn, Coinbase
Terraform Labs CEO Do Kwon has been charged with fraud by United States prosecutors in New York, just hours after he was reportedly arrested in Montenegro. The former cryptocurrency king was apprehended at the Podgorica airport with forged documents and an eight-count indictment against was made public in the US District Court in Manhattan. A federal grand jury
Animoca Brands, a Non-fungible token (NFT) and gaming investor based in Hong Kong that specializes in blockchain technology, has scaled back its target for its “metaverse fund” by 20% to $800 million due to recent volatility in the cryptocurrency industry. This represents another reduction in the company’s ambitions. The company had initially announced that it was working on
El Salvador’s President Bukele announced his intention to send a bill to the country’s Congress next week on eliminate all taxes on technology innovations as well as computing and communications hardware manufacturing. “Next week, I’ll be sending a bill to congress to eliminate all taxes (income, property, capital gains and import tariffs) on technology innovations, such as
The Securities and Exchange Commission has charged Grenada diplomat and crypto maven Justin Sun with fraud and unregistered securities, and also has charged YouTuber and boxer Jake Paul among other celebrities for promoting Sun’s Tronix and BitTorrent crypto assets. Actress Lindsay Lohan, musicians Soulja Boy, Austin Mahone,Akon, Lil Yachty, Ne-Yo and adult film star Kendra Lust were also
What is Ponzi scheme? Ponzi scheme is believed to be an investment swindle in which some early investors are paid off with money put up by later ones in other to encourage more and bigger risk. That is , Ponzi scheme deals majorly with investors money in circulation. The scheme has been carried out on
Nasdaq (NDAQ) is aiming to debut its crypto custody services by the end of the second quarter, the stock market exchange operator’s senior vice president and head of digital assets, Ira Auerbach, reiterated that the firm is working on getting the necessary infrastructure and regulatory approval in place. Nasdaq applied to the New York Department
A number of fintech payment companies and offshore banks are trying to fill the void left by the collapse of Silvergate Bank, Silicon Valley Bank and Signature Bank in the U.S., but it will likely take time before new banking networks are established, JPMorgan (JPM) explained in his weekly report. “In the meantime, crypto market
Over the last few weeks , it was observed that the collapse of three major banks in the United States – Silvergate, Silicon Valley, and Signature got Majority raising concerns about a 2008-like financial crisis. In 2008 the collapse of several Wall Street banks including the storied Lehman Brothers led to a global financial crises.However,
The most recent product that MetaMask Institutional has to offer is a staking marketplace that is designed to make the process of institutional staking for Ethereum more straightforward. This process signifies a big step forward for institutions who are working for validator status on the Ethereum network. However, Institutions who make use of MetaMask’s institutional-grade
The world of cryptocurrency has been channel towards bringing ease to users in the financial sector. And with the continuous growth in number of users, the more the safety and reliability is required. The digital currency (cryptocurrency) grow in it number of asset which brings about price fluctuations and a need to tie it to
The cryptocurrency exchange OKcoin on Friday suspended trading of the two city-based digital currencies — MiamiCoin and NYCCoin “Limited liquidity for these coins on our platform has created the possibility of price manipulation and fraudulent activity,” OKCoin wrote in a blog post. “While none of these risks have occurred, we wanted to get ahead of
