Author: Mohammed Ali

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Mohammed Ali

Mohammad Ali is a fintech and cryptocurrency writer who has been covering the intersection of finance and technology for several years. Ali has a deep understanding of the financial industry and the ways in which technology is changing it, with a special focus on the rise of digital currencies and blockchain technology.

Articles by Mohammed Ali

USDC Stablecoin Integrated with Arbitrum

USDC Launches on Arbitrum, Expanding the Reach of the Stablecoin

8 hours ago 1 min read

Circle, the company behind USDC, has brought its native stablecoin to Arbitrum, Ethereum’s leading layer 2 scaling solution. This development makes Arbitrum the ninth blockchain to support USDC, according to an official announcement from Circle. The integration of USDC on Arbitrum allows businesses leveraging Circle to conveniently swap USDC tokens across supported chains, eliminating the expenses and time delays often associated with bridging transactions. This functionality opens up new possibilities for seamless and efficient token transfers. In light of a recent bug in Arbitrum’s Sequencer software that temporarily halted on-chain transaction verification, Circle’s introduction of USDC on the Arbitrum network

Commonwealth Bank of Australia

Australian Bank Implements Payment Restrictions for Crypto Exchanges After Scam Concerns

1 day ago 1 min read

In an effort to combat the rising incidents of crypto-related scams and protect its customers from financial losses, the Commonwealth Bank of Australia has taken decisive action. The bank has introduced new measures that limit customers’ ability to send money to cryptocurrency exchanges. These proactive steps aim to reduce the occurrence of scams and safeguard customers’ funds. The Commonwealth Bank of Australia has announced that it will now decline or hold certain payments to crypto exchanges, effectively preventing customers from completing such transactions. Additionally, the bank plans to implement a monthly limit of $10,000 (AUD) on outbound payments to cryptocurrency

Pepecoin's Market Cap Briefly Reaches $1 Billion Once Again

Pepe coin’s Market Cap Surpasses $1 Billion Again, but Retreats Shortly After

1 day ago 1 min read

Pepecoin (PEPE) recently achieved a remarkable milestone in the volatile crypto market as its market capitalization surged past $1 billion once again. However, the euphoria was short-lived, as the coin swiftly retraced its steps. Pepecoin’s recent surge in market cap to surpass $1 billion underscores its ability to captivate investors and generate excitement in the crypto market. This achievement reflects the growing interest in meme coins and the potential they hold for significant returns. While Pepecoin’s temporary ascent was noteworthy, its subsequent retreat has raised questions about the sustainability of its growth. Currently, Pepecoin (PEPE) is experiencing a decline in

A new survey by PayPal found that 56% of metaverse users plan to increase their use of crypto over the next five years.

PayPal Survey Shows 80% of Metaverse Participants Utilize Crypto for Transactions

2 days ago 1 min read

A new survey by PayPal found that 56% of metaverse users plan to increase their use of crypto over the next five years. The survey, which was conducted in late 2022 and included 10,000 adults active in the metaverse, also found that 80% of metaverse users currently use crypto, while 97% of metaverse users hold coins. The survey defined the metaverse as “a virtual space where users can act through an avatar and interact with each other and with a computer-generated environment.” It also cites both Meta and Roblox as metaverse companies. The survey found that the most popular crypto

The Bitcoin network was very active in May

Bitcoin Transaction Fees Reach New Highs, Boosting Miner Revenue

3 days ago 1 min read

The Bitcoin network was very active in May, with transaction fees reaching a two-year high. This led to a good month for miners, who earn a portion of the transaction fees as a reward for processing transactions. Ordinals and BRC-20 Activity Drive Up Transaction Fees The surge in transaction fees was driven by activity on the Ordinals and BRC-20 protocols. Ordinals is an NFT protocol that launched on Bitcoin mainnet in January, and BRC-20 is a sidechain that allows for the creation of decentralized applications on Bitcoin. Miners Earn More in Transaction Fees As a result of the higher transaction

FTX Raises Concerns Over Genesis' Zero Debt Statement

FTX Disputes Genesis’ Zero Debt Assertion in Latest Challenge

4 days ago 1 min read

Bankrupt crypto exchange FTX has challenged a claim by Genesis that it owes no money to FTX. In a court filing, FTX said it is a major creditor of Genesis and was not invited to a mediation session arranged by the court in May. Genesis allegedly handpicked the participants in the mediation. FTX claims that it is owed $3.9 billion in cash and cryptocurrency from Genesis. The company alleges that Genesis was one of the main feeder funds for FTX and instrumental to its fraudulent business model. Genesis has denied FTX’s claims and has said that it is in good

Cryptocurrencies gained following successful negotiations on raising the U.S. debt ceiling that injected some optimism into markets.

Bitcoin is back above US$27,000 Following U.S. Debt Ceiling Deal

1 week ago 1 min read

Cryptocurrencies gained following successful negotiations on raising the U.S. debt ceiling that injected some optimism into markets. Bitcoin, the world’s largest cryptocurrency, rose 1.08% to US$27,076 in 24 hours to 4 p.m. in Hong Kong, bringing its weekly gains to 2.08%, according to CoinMarketCap data. Ether, the second biggest cryptocurrency in the world, gained 1.78% to US$1,886 in 24 hours, after rising 3.85% in the last seven days. Litecoin was the biggest gainer among the top 10 cryptos, climbing 2.25% to US$94.48 in 24 hours, and strengthening 8.35% on the week. It rose on stronger buying support from its third

GameStop Corporation has partnered with the Telos Foundation to level the barriers preventing the widespread adoption of Web3.

GameStop and Telos Foundation Announce Partnership to Develop Blockchain-Based Games

1 week ago 1 min read

GameStop Corporation, a popular video game and merchandise retailer, has partnered with the Telos Foundation to level the barriers preventing the widespread adoption of Web3. The partnership will see Telos provide blockchain infrastructure to GameStop’s Web3 gaming launchpad, Playr. This will allow GameStop to offer more Web3 games to its customers and attract new users to the platform. Telos is a high-performance blockchain that is well-suited for gaming. It is fast, scalable, and energy-efficient. This makes it a good choice for GameStop, which is looking to provide a smooth and enjoyable gaming experience for its customers. The partnership between GameStop

The community behind the popular memecoin Shiba Inu (SHIB) has burned over 6.3 billion tokens in a week.

Shiba Inu Burns Over 6.3 Billion Tokens in a Week

1 week ago 1 min read

The community behind the popular memecoin Shiba Inu (SHIB) has burned over 6.3 billion tokens in a week. This is a significant amount of tokens, and it shows that the Shiba Inu community is committed to reducing the supply of SHIB tokens. Token burning is the process of permanently removing tokens from circulation. This can be done by sending tokens to a burn address, which is a wallet that cannot be accessed by anyone. When tokens are burned, they are effectively removed from the market, which can help to increase the value of the remaining tokens. There are a number

Hong Kong-based qualified custodian and trust company First Digital

Hong Kong-based First Digital Launches USD Stablecoin Backed by Asian Reserves

1 week ago 1 min read

Hong Kong-based qualified custodian and trust company First Digital has launched a new USD stablecoin, called FDUSD. The stablecoin is backed by 1:1 USD reserves held in segregated accounts at institutions in Asia. FDUSD is designed to provide stability to the crypto market and to make it easier for investors to use crypto to make payments and to invest in other assets. The stablecoin is also programmable, which means that it can be used to execute financial contracts, escrow services, and insurance without intermediaries. First Digital is a well-established financial institution with a strong track record. The company is regulated

Coinbase CEO Brian Armstrong criticized US lawmakers and regulators

Coinbase CEO Brian Armstrong Slams US Crypto Regulation, Says China is Winning

1 week ago 1 min read

Coinbase CEO Brian Armstrong criticized US lawmakers and regulators over their approach to bringing “regulatory clarity” to cryptocurrency in an opinion article published on Tuesday. “By enforcing restrictive policies, the U.S. is inadvertently driving crypto-innovation offshore,” Armstrong wrote. “That shift will compromise America’s legacy of pioneering technological advancements, and weaken our national security posture.” Armstrong’s criticism comes as the US government is still struggling to come up with a comprehensive regulatory framework for cryptocurrency. The Securities and Exchange Commission (SEC) has taken a hands-off approach to regulating cryptocurrency exchanges, while the Commodity Futures Trading Commission (CFTC) has taken a more

Whale Moves $800 Million in BTC

Bitcoin Whale Moves $800 Million in BTC After 10 Months of Dormancy, Could This Be the Start of a Bull Run?

1 week ago 2 mins read

A massive Bitcoin whale has moved a staggering 31,000 BTC that’s, at the time of writing, worth more than $820 million, out of its cold wallets that had been inactive since late 2022 and had received funds from multiple exchanges. According to data unveiled by prominent blockchain intelligence firm Arkham Intelligence, the wallets’ history suggests that they previously received a notable deposit of 21,600 Bitcoins, transferred directly from renowned cryptocurrency exchanges Binance and Huobi in the early fall of 2022. The whale currently holds BTC in two wallets, one with 20,000 BTC in it, and another with 11,200 BTC in

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