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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

El Salvadorans speak on BTC adoption
2 years ago 1 min read

Nearly 80% of El Salvadorans say the country’s Bitcoin strategy has been a failure

Only a little more than a year after El Salvador became the world’s first government to recognize Bitcoin (BTC) as legal cash, the policy looks to be unpopular among most inhabitants. According to a study conducted by the University of Central America (UCA), over 77% of El Salvadorans believe Bitcoin adoption has been a failure. Interestingly, despite the government’s efforts to popularize Bitcoin and cryptocurrencies, the study found that 75.6% of inhabitants said they had never used digital assets in 2022, when the whole digital asset market plummeted substantially. Furthermore, with President Nayib Bukele amassing more Bitcoin, another 77% of

FTX delivered Voyager Digital's primary wallet 50,000 Ethereum, valued at around $65 million.
2 years ago 2 mins read

FTX sends 50,000 Ethereum to Voyagar Digital

According to a recent source, FTX delivered Voyager Digital’s primary wallet 50,000 Ethereum, valued at around $65 million. The transaction was confirmed in a tweet by Alex Svanevik, the CEO of the blockchain analytics company Nansen. Some crypto companies struggled with insolvency as a result of the crypto winter. Even several cryptocurrency businesses left the market as a result of this negative market. Even worse, several businesses drastically reduced their workforce while others completely ceased operations. One of the companies that lost 20% of its workforce owing to cash flow problems was Coinbase. Voyager Digital is one of the businesses

Is ADA at Risk of Dropping Out of the Top 10 Cryptos List?
2 years ago 1 min read

Is ADA in Danger of Losing Its Place Among the Top 10 Cryptocurrencies?

Cardano’s native cryptocurrency, ADA, has established new bottoms during the current crypto bear market as a result of what appears to be a significant price suppression by crypto bears. The token has looked ready to reclaim the lost level ever since the price of ADA plunged below the critical support levels at $0.385. Unfortunately, the likelihood of a bullish turnaround is diminishing because of the deteriorating macroeconomic environment. The eighth-largest cryptocurrency by market value may continue to set fresh price bottoms if bears maintain their dominance, which would eventually cause it to tumble off the list of the top 10

morgan-stanley on Bitcoin
2 years ago 1 min read

Over 180 active crypto ETPs bet money on bitcoin (BTC) and Ether (ET), claims Morgan Stanley

Investment companies aren’t deterred by the drop, despite the crypto market going through one of the coldest downtrends. Investment firms have introduced an increasing number of exchange-traded funds over the past 11 months in the expectation that cryptocurrencies will finally succeed. Since the beginning of the bitcoin bear market, approximately 180 active crypto exchange-traded products (ETPs) and trust products have been released internationally, according to Morgan Stanley. In fact, the speedy introduction of these ETPs was not even hampered by a 70% reduction in the market’s total asset value, which fell to $24 billion. Morgan Stanley further stated that at

Mirna's Blockchain VAT
2 years ago 1 min read

Oman Ministry Acknowledges Mirna’s Blockchain VAT Platform Development

A blockchain-based tool developed by Egyptian engineer Mirna Mohammed was created to monitor the Oman value-added tax system. Consequently, Oman’s Ministry of Higher Education had approved Mirna’s Blockchain VAT accounting platform and will provide funding for its implementation. It is noteworthy that more Arab women from Oman and Saudi Arabia have recently joined the blockchain ecosystem and contributed to the advancement of society and the economy. Over the past few weeks, there have been more Arab women working on blockchain initiatives. Mirna claimed in an interview that her father’s insistence on creating a budget accounting system employing cutting-edge technology was

Amazon denies accepting crypto
3 years ago 1 min read

Amazon.com Inc Denies Rumored Plans About Accepting Bitcoin Payments

The e-commerce giant, Amazon.com, denies reports of it accepting crypto and Bitcoin payments by the end of the year. According to an Amazon spokesperson, the company won’t accept crypto payments by the end of 2021. But, it is still interested in blockchain technology and the cryptocurrency space. The denial news came on Monday when Amazon.com’s insider took to the media, saying Amazon has no specific plans to onboard digital assets for payments yet. The insider said, “Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true. We remain focused on

TikTok banned crypto
3 years ago 1 min read

Crypto-Based Content Is No Longer Allowed on Tiktok Starting Today

Crypto-based content is no longer allowed on TikTok starting today. According to TikTok, certain types of ads will no longer be permitted on the platform. This includes crypto-based promotional content and some other topics. TikTok announced that on Friday 8 in an article from FT Adviser. The new guidelines on the platform will explicitly restrain users from posting promotional content about financial products, despite the poster’s location. The FT Adviser, Martin Bamford detailed the decision as follow, “TikTok said that branded content policy, the promotion of all financial services and products is now globally prohibited.” TikTok’s decision comes amid Dogecoin

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