Browsing:Market News

FTX
2 years ago 1 min read

FTX exchange gets approval from the Bankruptcy Court to purchase the Voyager Digital assets

A U.S. bankruptcy court has granted FTX permission to take over the assets of insolvent crypto platform Voyager Digital. The platform said in a statement that the United States Bankruptcy Court for the Southern District of New York approved Voyager Digital’s “entry into the asset purchase agreement between FTX US and Voyager.” In the statement, Voyager said, “FTX US’s bid, valued at approximately $1.422 billion, is comprised of (i) the fair market value of all Voyager cryptocurrency at a to-be-determined future date prior to closing of the sale, which at current market prices as of September 26th is estimated to

Charles Hoskinson founder of Cardano
2 years ago 1 min read

Cardano’s founder promises that “Something Special” is coming in November

Cardano founder Charles Hoskinson teased the Cardano community earlier today with a surprise announcement. Without going into greater detail, the popular crypto enthusiast and founder of Cardano, predicts that “something spectacular” is coming in November. Charles Hoskinson included an animated GIF of the character Professor Farnsworth from the 1999 cartoon TV show Futurama saying “Good News Everyone!” The meme is frequently utilized by anyone who discusses anything positive. After months of delays, Cardano released its much-anticipated Vasil upgrade in September. The ADA token, which experienced a large surge in the run-up to the update, has made no progress since then.

Crypto adoption in MENA region
2 years ago 2 mins read

Crypto Market Expands More Prominently in the Middle East North African Sector according to study

The allure of cryptocurrency has pulled in investors from all over the world, with new investors widely expected to join the global phenomenon every year in hopes of making a killing. As expected, different regions are at different levels and capabilities of adoption. The Middle East and North Africa (MENA) region has been exceptional compared to all other regions. It has recorded the highest crypto transaction volume growth year on year (YoY) in a side-by-side comparison to all other regions. Statistics show that the MENA region has attained a surge in crypto transaction volume of 48% in a 12-month period

Spain surpasses El Salvador to become third largest crypto ATM hub
2 years ago 1 min read

Spain surpasses El Salvador to become the third in terms of largest crypto ATM center

El Salvador, which has 212 crypto ATMs, is presently in fourth place due to Spain, which has 215 crypto ATMs, having surpassed it by 3 crypto ATMs. After the US and Canada, Spain is the official location of the third-largest network of Bitcoin (BTC) and cryptocurrency ATMs. El Salvador, which has 212 crypto ATMs, is presently in fourth place due to Spain, which has 215 crypto ATMs, having surpassed it by 3 crypto ATMs. Spain is confirmed to account for 0.6% of all crypto ATM installations worldwide, according to data from CoinATMRadar. Additionally, the information reveals that Spain is the

Gate io Twitter account hacked
2 years ago 1 min read

Twitter account for Gate.io hacked to spread phishing scam

Hackers hijacked the Gate.io Twitter account to spread phishing attacks. Gate.io is one of the biggest cryptocurrency exchanges in the industry. The exchange’s official URL was changed by the hackers from Gate.io to gate.com, according to information currently available. Users who typed in the gate.com URL were sent to a landing page advertising a giveaway of $500,000 USDT. Because it offers hackers access to the wallet, users who connect their wallets to the website risk having their valuables stolen. PeckShield, a blockchain security company, alerted the public to the scam. According to data from CoinMarketCap, the controlled exchange had a

Tether
2 years ago 1 min read

Tether USDT is available in over 24,000 ATMs in Brazil

Tether, a stablecoin issuer, has announced that SmartPay would increase the Brazilian population’s access to the popular USDT stablecoin by making it available at over 24,000 ATMs across the South American country. “The obstacles and constraints imposed by inflation and a less-than-inclusive banking system have prevented many Brazilians from participating in the country’s developing economy,” said Paolo Ardoino, CTO of Tether in a statement. The executive said, “Adding tether tokens to ATMs across Brazil provides the opportunity to include more people in the financial system. This will bring major changes not only to the payments industry but to the entire

2 years ago 1 min read

Justin Sun has committed $236 million to Dominican Crypto Reserves.

The USDD algorithmic stablecoin is now listed alongside Huobi Cryptocurrency (HT), Huobi’s native token. USDD/HT, USDD/BTC, and USDD/ETH are currently available on the exchange. This is the latest phase in the exchange’s foreign expansion plan. This development comes as no surprise following the revelation of a shift in the exchange’s controlling ownership and the appointment of Tron/USDD founder Justin Sun to its Global Advisory Board. Following Sun’s entrance, Huobi launched a host of activities aimed at solidifying its position as a major crypto exchange while providing added value to HT holders. The introduction of zero transaction fees for all 11

Crypto industry advocates had previously stated that a crypto bill they had come across would “kill DeFi.” The controversial legislature has seen an updated draft being released online
2 years ago 2 mins read

Draft Crypto bill Circulating in Secret could be a catalyst to DeFi

Crypto industry advocates had previously stated that a crypto bill they had come across would “kill DeFi.” The controversial legislature has seen an updated draft being released online. Initial reactions seemed positive, with commentators raving on about how the U.S. is “finally getting their act together.”  The bill is named the Digital Commodities Consumer Protection Act (DCCPA), with an updated version currently circulating online. Tones have once again changed with some voices suggesting that it could be positive for DeFi and crypto. The previous draft amassed heavy criticism from industry representative bodies for not watering down the definition of “digital commodity

If the deal with FTX exchange goes through, Voyager clients might recover up to 72% of the value of their accounts.
2 years ago 1 min read

The FTX deal could return 70% of funds to Voyager clients, FTT price falls by 5%

The FTX crypto exchange’s native token, FTT, has taken a hammering in the last 24 hours as new information about its Voyager acquisition plans has emerged. Bloomberg reported on October 20 that a tentative agreement between FTX.US and the troubled crypto lender Voyager Digital could result in the majority of assets being repaid. The arrangement, which was approved by U.S. Bankruptcy Judge Michael Wiles on Oct. 19, cannot be finalized until Voyager’s bankruptcy payout plan is approved. According to the article, if the deal goes through, Voyager clients might recover up to 72% of the value of their accounts. In

2 years ago 1 min read

Relai partners with Checkout.com to enable 24/7 bitcoin purchases

Relai is also improving its user interface to make acquiring bitcoin easier, as Europeans can now buy bitcoin instantaneously 24/7 using Visa, Mastercard, and Apple Pay. According to a press release issued to Bitcoin Magazine, Relai, a Swiss-based bitcoin software, has teamed up with Checkout.com to enable 24/7 bitcoin purchases in Europe through user-owned wallets. “We are happy to announce our relationship with Checkout.com at a time when it is more crucial for individuals to have control over their money,” said Julian Liniger, CEO and co-founder of Relai. With this collaboration, Relai becomes the first company in the region to

Crypto Community Slams FTX CEO Over Proposed Centralized Industry Standards
2 years ago 1 min read

SBF, the CEO of FTX, releases a draft that proposes cryptocurrency regulation

The CEO of the FTX crypto firm, Sam Bankman-Fried, has issued a document containing a draft of a set of standards that might be implemented in the crypto industry. The “Possible Digital Asset Industry Standards” document aims to provide clarity and protect clients while complete federal regulatory regimes are developed. Bankman-Fried moved to Twitter to let his followers know that he had sent the document as promised. The document provides an outline of sanctions compliance on blockchain platforms; what must be done if a hack occurs; who must be held accountable; and, most significantly, how to avoid scams and protect

The Cardano blockchain has seen a surge in network activity
2 years ago 1 min read

Cardano Network Transactions Increase by 75% as Activity Skyrockets

The Cardano blockchain has seen a surge in network activity. According to Cardanoscan, network transactions reached 97,959 on October 19, the highest level since the beginning of October. On a monthly basis, this is a 75% gain. Cardano is now one of the top three NFT chains. According to openCNFT data, NFT volumes reached 3.0 million ADA and 2.8 million ADA on Oct. 17 and 18, putting Cardano in third place among NFT protocols. In the last 24 hours, Cardano ranked ahead of Immutable X, with $1.2 million traded in NFTs, trailing only Ethereum and Solana. On September 22, the

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