Browsing:Market News

Visa enters the crypto and NFT space
5 months ago 1 min read

VISA files 2 trademark applications for managing crypto transactions and NFTs

Visa, the world’s largest credit card company, has filed a number of trademark applications, implying a larger foray into crypto markets. On October 27, licensed trademark attorney Mike Kondoudis revealed Visa’s most recent trademark applications. The applications indicate that the company intends to develop or launch its own digital asset wallet. Software for managing digital, virtual, and cryptocurrency transactions, as well as cryptocurrency wallets, were included in the two trademark filings. In addition, provisions were made for auditing cryptocurrencies, utility tokens, and blockchain assets. Furthermore, the trademark applications extended beyond cryptocurrency transaction software and wallets. They also included nonfungible token

Elon Musk took over Twitter
5 months ago 1 min read

Binance confirms its investment in the Twitter takeover, with Musk reportedly planning to take over as CEO

Binance, a cryptocurrency exchange operator, is now a confirmed equity investor in Elon Musk’s acquisition of Twitter. Right after Elon took over Twitter, Binance founder and CEO Changpeng Zhao issued a statement saying, “We’re excited to be able to help Elon realize a new vision for Twitter. We aim to play a role in bringing social media and web3 together in order to broaden the use and adoption of crypto and blockchain technology.” Musk reportedly fired Twitter’s top executives, including CEO Parag Agarwal, after the $44 billion deal closed yesterday. Bloomberg reported today that Musk intends to take over as

Google earning in crypto
5 months ago 1 min read

Google CEO reports a lower search spending in the third quarter of 2022

During Alphabet’s earnings call on September 25, Google’s Chief Business Officer, Philipp Schindler, admitted to seeing reduced search spending during the third quarter of 2022. “In financial services, we saw a pullback in the insurance, loan, mortgage, and crypto subcategories,” Schindler was quoted as saying. According to CNBC, this three-month period was the company’s weakest of all quarters since 2013, with overall ad growth of 6%. The only exception was the start of the COVID-19 pandemic. YouTube suffered a similar fate to Google, as its revenue fell on an annual basis. Sundar Pichai, CEO of Google, believes that the challenging

BNB Chain
5 months ago 1 min read

Kazakhstan to create its central bank digital currency based on the BNB Chain

Kazakhstani officials maintain their close relationship with Binance, with the National Bank planning to integrate its CBDC into the BNB Chain. The Binance founder announced on Twitter that the National Bank of Kazakhstan (NBK) will integrate its central bank digital currency (CBDC), the digital tenge, onto the BNB Chain, the Binance network’s underlying blockchain. The NBK launched a CBDC pilot program in which local merchants and consumers participated. Zhao stated that he hopes the bank will continue to develop use cases to “bridge the gap between traditional banking and the crypto ecosystem.” This is just one of many developments in

MasterCard partners with BitOasis crypto exchaneg
5 months ago 1 min read

MasterCard partners with Dubai-based crypto exchange BitOasis

On October 25, Mastercard announced a strategic partnership with BitOasis, a crypto platform operating in the Middle East and North Africa (MENA), to launch a series of crypto card programs aimed at facilitating the adoption of digital assets in the region. Customers of BitOasis will be able to link their wallets to the new card and convert crypto into fiat in order to use Mastercard’s global merchant network when the card launches in early 2023. Ola Doudin, co-founder and CEO of BitOasis, sees a huge potential for adoption in the area, noting: “We continue to witness sustained demand amongst our

Asset management firm Stone Ridge launches BTC Lightning Network startup accelerator
5 months ago 1 min read

NYDIG launches the first startup accelerator focused on the Bitcoin Lightning Network

Stone Ridge, the parent company of Bitcoin company NYDIG, has launched In Wolf’s Clothing, the first startup accelerator focused on the Bitcoin Lightning Network and the Taro protocol (Wolf). The accelerator consists of 8-week programs in which the best founders and startup teams from around the world are brought to New York City and their lodging and travel expenses are covered. Teams that apply and are accepted into the program will receive a $250,000 guaranteed investment. A panel of judges will select one team to receive an additional $500,000 in funding during the demonstration day at the end of each

A new UK amendment to the Financial Services and Markets Bill might regulate crypto assets such as Bitcoin in addition to stablecoins.
5 months ago 1 min read

UK parliament proposes a bill to regulate crypto assets

A new UK amendment to the Financial Services and Markets Bill might regulate crypto assets such as Bitcoin in addition to stablecoins. The House of Commons approved a motion by parliament member Andrew Griffith to put cryptocurrency under the umbrella of regulated financial services. The suggestion was one of several changes to the original draft that would make stablecoins regulated payment forms. The proposal incorporates cryptocurrency into the framework of the Financial Services and Markets Act of 2000. It enables advertising regulation and the expulsion of illegitimate businesses. The measure was introduced during the tenure of Rishi Sunak as Chancellor

Vertu crypto mobile phone
5 months ago 1 min read

Vertu Introduces the ‘World’s First Web3 Phone’ With a base price of $3300

Vertu officially debuted its latest phone, METAVERTU, on October 24 at an event in London, claiming it is “the world’s first Web3 phone.” According to a press release, 2022, METAVERTU was initially revealed on September 28, 2022. The company stated that it will conduct a launch event in London on October 24, to officially start off the global sale. According to an internal staff statement, VERTU’s METAVERTU phone is the first to propose the concept of CNCOS, a 5-dimensional integrated ecosystem that aims to integrate chips, smart terminals, blockchain, operating systems, and high-end services into a single phone, and they

Tel-Aviv Stock Exchange (TASE)
5 months ago 1 min read

The Israel Stock Exchange will launch a crypto platform

The Tel-Aviv Stock Exchange (TASE) has unveiled its new strategy plan for the years 2023–2027, which includes the construction of a new platform for digital assets in an effort to increase the Israeli economy’s exposure to cryptocurrencies. The strategy states that “TASE will support the deployment of novel technologies, including DLT, tokenization of various kinds of digital assets, and smart contracts.” The Israeli exchange’s CEO, Ittai Ben Zeev, stated that the project is intended to place TASE in a better position to benefit from the rapid technological transformation of the global financial markets. The CEO said that they will use

The South Korean Financial Service Commission (FSC), the country's financial regulator, is now concentrating on crypto whales.
5 months ago 1 min read

South Korean regulator to prevent crypto money laundering attempts

The crypto business has seen an increase in the use of crypto assets throughout the years. This is because transactions involving virtual assets do not require the intervention of third parties, making it easier for criminals to succeed. However, regulators are paying more attention to the crypto space. They intend to use cryptocurrency to restrict the growth of illicit activities such as money laundering and terrorism financing. Most watchdogs have established regulatory structures to track and enforce compliance with anti-money laundering laws (AML). South Korean regulators have increasingly toughened their position on AML compliance in digital assets. As a result,

5 months ago 1 min read

MakerDAO joins forces with Coinbase to become the largest USDC holder

Coinbase stated on October 24 that the MakerDAO board had voted in favor of the proposal to take custody of $1.6 billion USDC with Coinbase Prime. This means that Coinbase has for the first time extended its USDC rewards program to an institutional client. MakerDAO will keep the money with Coinbase Prime, the company’s institutional broker, and earn 1.5% on it. On October 24, the proposal received 75% of the votes cast, or 109,944 MKR tokens. Coinbase believes that stablecoins will play an important role in the future of finance. Over the last few years, its USD Coin has increased

Founder of Solend
5 months ago 1 min read

The Founder of Solend blames Alameda and ‘Sam Bankman-Fried ideology’ for IDO manipulation

Alameda Research allegedly modified its IDO, according to the founder of the Solana-based loan and borrowing portal Solend. Rooter, the Solend creator, said that Alameda Research donated $100 million during its IDO in November 2021, inflating its fully diluted market cap to more than $2.5 billion. Rooter went on to say that $80 million was pulled at the last minute. One of the accounts he mentions is one associated with Alameda Research. Others have also accused Alameda of deception. He argues that the company has a vested interest in inflating the value of a Solana-based platform, which explains the big

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