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

LBRY Inc. Announces Closure After Losing Legal Battle with SEC

This blockchain company shuts Down after losing legal battle with the US SEC

7 months ago 1 min read

LBRY Inc., a blockchain publishing platform, has revealed that it is shutting down its operations. Overwhelming debts owed to the U.S. Securities and Exchange Commission (SEC), its legal team, and private creditors. The statement from LBRY Inc. is clear and direct: “LBRY Inc. must die, there is no escaping this.” The company has faced a judgment against it by the federal government and carries debts amounting to several million dollars, leaving them with no other option but to cease their activities. While the company is shutting down, the LBRY blockchain itself will continue to exist. This blockchain, which hosts over

Binance Forges New Partnerships with Euro Banks to Enhance Services

Binance Expands Euro Banking Partnerships with New Agreements

7 months ago 1 min read

Binance crypto exchange has just expanded its Euro payment options. In a recent blog post, the Binance team announced that they’ve signed agreements with new fiat partners to offer a range of Euro-related services. These services include making Euro deposits and withdrawals through the Single Euro Payments Area (SEPA) network, trading Euro pairs, and buying and selling crypto via SEPA, bank cards, and fiat balances. While Binance hasn’t disclosed the names of these new partners, a Binance spokesperson said that they are collaborating with many partners across Europe, including TrueLayer, Nuvei, and several card acquirers. This move comes after Binance’s

Visa Commits $100 Million to Foster Generative AI Innovations

Visa Unveils $100 Million Initiative to Drive Generative AI Development

8 months ago 2 mins read

Visa, the global payment giant, is doubling down on its commitment to artificial intelligence (AI) in the realm of commerce and settlements. They’ve unveiled a fresh initiative, committing a substantial $100 million to fund generative AI ventures. The primary focus of this initiative is to support companies dedicated to advancing generative AI technologies and their applications in the fields of commerce and payments. This investment endeavor will be spearheaded by Visa’s global corporate investment arm, Visa Ventures, which has been a driving force behind fostering innovation in the payments and commerce sectors since 2007. Generative AI stands out as a

Ethereum Whales Bullish on ETF Approval as They Gather More ETH

Ethereum Whales Accumulate ETH as Ethereum Futures ETF Approval Nears Certainty

8 months ago 1 min read

In recent news, Lookonchain has reported a noteworthy trend of Ethereum (ETH) accumulation and staking by large holders, often referred to as “whales.” One prominent whale, known as “0x7838,” made a significant move by withdrawing and staking 4,288 ETH from the Binance exchange just four days ago, amounting to approximately $7.2 million. Following suit, another wallet with the address “0x4b7B” also withdrew and staked a substantial amount, totaling 9,530 ETH, or approximately $16 million, from Binance. Market analysts speculate that this surge in Ethereum accumulation by whales could be linked to the pending approval of numerous Ethereum Futures ETF applications.

Volkswagen is reportedly planning to build its new Trinity electric vehicle (EV) at its factory in Zwickau

Volkswagen’s new Trinity EV to be built in Zwickau, Germany

8 months ago 1 min read

Volkswagen is reportedly planning to build its new Trinity electric vehicle (EV) at its factory in Zwickau, Germany. The Trinity is a flagship EV that is expected to be launched in 2026. According to the German newspaper Handelsblatt, the decision on the location for the Trinity will be discussed at the Volkswagen supervisory board meeting on Friday. A spokesperson for Volkswagen declined to comment on the report. The decision to build the Trinity in Zwickau is a significant one for the city, which is already a major center for Volkswagen production. Zwickau is home to Volkswagen’s largest EV factory, which

Epic Games to Lay Off 16% of Its Workforce

Epic Games Plans to Cut 16% of Its Workforce

8 months ago 1 min read

Epic Games, the company behind the immensely popular video game Fortnite, is making significant changes that include cutting around 16% of its workforce, which amounts to 870 jobs. Additionally, the company is selling Bandcamp, an online music platform it acquired just last year. In a memo to its employees, Epic Games explained that despite their efforts to reduce costs, they were still spending more money than they were earning, leading to the difficult decision to implement layoffs. CEO Tim Sweeney emphasized that these measures are necessary to stabilize the company’s finances. Epic Games had already taken steps to control expenses,

WSJ Publishes Negative Article About Binance, CEO CZ Reacts Swiftly

Binance CEO CZ Responds Swiftly to WSJ FUD Claims

8 months ago 1 min read

The Wall Street Journal (WSJ) has once again published a critical article about Binance, the world’s largest cryptocurrency exchange. The WSJ has previously released several negative reports about the exchange. In today’s news, the WSJ claimed that Binance is showing signs of decline, citing an unnamed source who allegedly saw an internal message from Binance co-founder Yi He. According to the WSJ’s alleged source, Yi He sent the following message to company employees: “Every battle is a do-or-die situation, and the only thing that can defeat us is ourselves. We have triumphed countless times, and we need to emerge victorious

Shiba Memu Presale Surpasses $3.2 Million in Funding

8 months ago 2 mins read

The cryptocurrency world is buzzing with two compelling stories that have captured the attention of crypto enthusiasts. On one side, Shiba Memu, a meme token equipped with AI-driven marketing capabilities, is making headlines with a token presale that has soared to a staggering $3.2 million. Simultaneously, Celsius Network, a cryptocurrency lending platform that faced financial troubles, has received the green light from its creditors to move forward with a reorganization plan that pledges to return a significant portion of assets to its investors. Let’s delve into these intriguing narratives. In the ever-evolving realm of cryptocurrencies, meme tokens have carved out

Hackers Drain Mixin Network of Almost $200 Million

Mixin Network Suffers Massive $200M Loss in Recent Hack

8 months ago 1 min read

Mixin Network, a platform designed to facilitate cheaper and more efficient cross-chain transfers, has confirmed that it fell victim to a cyberattack resulting in the loss of around $200 million in assets. The attack, which occurred in the early morning hours of September 23, targeted the database of Mixin Network’s cloud service provider. The breach highlights a significant vulnerability in the network, as it relies on a centralized database, creating a single point of failure. As of a July monthly report, the top 100 assets on Mixin Network had a total value of slightly over $1.1 billion. During the same

Stablecoin company Tether is making a move into artificial intelligence chips and overseas Bitcoin crypto mining through a $420 million deal

Tether Invests in German Bitcoin Miner Northern Data with 20% Stake

8 months ago 1 min read

Stablecoin company Tether is making a move into artificial intelligence chips and overseas Bitcoin crypto mining through a $420 million deal, according to Forbes’ report on September 20. While Tether has yet to officially announce the investment, Forbes gathered information from Northern Data and its executives. In this reported deal, Tether spent $420 million on 100,000 Nvidia H100 GPUs, accounting for roughly 2% of the 550,000 GPUs Nvidia plans to ship this year. Tether made this purchase on behalf of Northern Data, a German cryptocurrency mining firm. Northern Data aims to lease cloud access to these specialized chips to AI

FTX Readies Itself to Return Online After Security Incident

FTX Gets Ready to Resume Operations After Security Breach

8 months ago 1 min read

Cryptocurrency exchange FTX has been on a journey to mend its relationship with users after a turbulent period last year. However, their efforts faced a setback in August when a cyberattack disrupted their operations, leading to funds being siphoned off by hackers. Now, as they put the security threat behind them, the exchange is gearing up to go back online. On Sunday, September 17, FTX announced the reopening of its Customer Claims portal, featuring upgraded security measures. Previously, the platform faced a security breach involving its bankruptcy claims agent, Kroll, which exposed non-sensitive data. The breach, which occurred on August

The overarching goal of Polygon 2.0 is nothing short of revolutionary

Polygon 2.0: MATIC Token Set for Upgrade to POL

8 months ago 2 mins read

Polygon Labs development team officially kicks off the much-anticipated Polygon 2.0 implementation. This major step forward was heralded by a recent tweet from the team, revealing the launch of three Polygon Improvement Proposals (PIPs) and offering a glimpse into Phase 0 of this ambitious upgrade. In their tweet, Polygon Labs was quick to remind us that the roadmap for Polygon 2.0 was unveiled back in July. The overarching goal of Polygon 2.0 is nothing short of revolutionary—it aims to create the “Value Layer of the Internet” within the Ethereum block space. The team envisions this feature as the key to