Browsing:Market

Binance cryptocurrency exchanges has reportedly lifted the €10,000 limit on Russian accounts
1 year ago 1 min read

Binance Lifts €10,000 Limit on Russian Accounts

Binance, one of the world’s largest cryptocurrency exchanges, has reportedly lifted the €10,000 limit on Russian accounts that was imposed in April 2022. This development was reported by RBC, a local media outlet, on April 18. According to the report, the technical support team of Binance confirmed that Russian users can now deposit and trade on the platform beyond €10,000. However, Russian users are still prohibited from peer-to-peer transactions in U.S. dollars and Euros. Binance’s decision to lift the restrictions comes almost a year after it imposed the limit. At the time, the exchange cited the EU’s fifth package restrictions

Unchained Secures $60M Investment to Revolutionize Collaborative Custody for Bitcoin
1 year ago 1 min read

Unchained Secures $60M in Funding to Expand Collaborative Custody Bitcoin Services

Unchained Capital has secured $60 million in a Series B funding round led by Valor Equity Partners, despite the bear market grind. The financial services provider for Bitcoin holders offers a more secure way to hold fees than storing crypto on centralized exchanges or single-key solutions. Unchained’s custody model leverages the Bitcoin network’s native multi-signature capabilities, with clients sharing control of their Bitcoin between private keys they hold and private keys held by Unchained or other financial services companies. The multi-sig process eliminates single points of failure and mitigates counterparty risk by sharing it between multiple parties, radically reducing risk

Bitget has partnered with Core DAO
1 year ago 1 min read

$200 Million Ecosystem Fund Launched by Bitget and Core DAO to Boost Crypto Innovation

Bitget, a renowned crypto derivatives trading platform, has partnered with Core DAO, a blockchain development organization, to promote the creation of decentralized applications (dApps) on the Core network’s Layer-1 blockchain. This partnership will provide a $200 million ecosystem fund that will support early-stage projects on the Core network. The ecosystem fund will be supported by other strategic partners such as the global crypto exchange MEXC. This fund will offer grants to developers who hit pre-defined milestones. Bitget’s collaboration with Core DAO will include the listing of Core projects and the opening of a new Core Trading Zone on its derivatives

Coinbase has laid out a vision for the UK to become a leader in the Web3 economy,
1 year ago 1 min read

Coinbase Joins Forces with UK to Build Web3 Hub as Blockchain Taskforce Returns

Coinbase, one of the world’s largest cryptocurrency exchanges, has laid out a vision for the United Kingdom to become a leader in the Web3 economy, creating an “innovation hub” for the crypto sector. The exchange’s comments come as the U.K. Treasury reportedly revives its Asset Management Taskforce, which will focus on developing crypto regulation in partnership with the private sector. In an April 16 blog post, Coinbase stated that it is working “seriously” in the U.K. and Europe, praising the region’s progressive regulatory efforts. The company’s CEO, Brian Armstrong, is set to speak at a London fintech conference and provide

Ethereum Holders Sit on Almost $2 Billion in Unstaked Tokens
1 year ago 2 mins read

Almost $2 Billion Worth of Ethereum (ETH) Coins Remain Unstaked

Ethereum ($ETH), the second-largest digital currency by market capitalization, is set to see nearly $2 billion worth of tokens withdrawn from its network as validators wait for their turn to collect rewards earned from securing the network. The withdrawals come after the Shapella hard fork, which went live on Ethereum’s network last week, implementing Ethereum Improvement Proposal (EIP) 4895. The upgrade allows for the withdrawal of staked Ether, which had been locked on the network since the launch of the Beacon Chain, completing Ethereum’s transition to a Proof-of-Stake consensus mechanism. This move is expected to produce short-term price fluctuations as

Safe AI top priority for EU legislators amidst Google CEO's AI development warning
1 year ago 1 min read

EU lawmakers advocate for ethical AI as Google CEO warns of hasty progress

A dozen European Union politicians have joined hands to call for the “safe” development of artificial intelligence (AI) and to push for universal rules around its development. This comes after Google’s CEO, Sundar Pichai, warned against releasing powerful AI technology before society had adapted to it. The EU Parliament member, Dragoș Tudorache, shared an open letter on Twitter on April 16, which urged the European Commission President Ursula von der Leyen and US President Joe Biden to convene a summit on AI and establish governing principles for the development, control, and deployment of the tech. The letter highlights the need

Do Kwon
1 year ago 1 min read

Terra’s Do Kwon Refuses to Comply with SEC’s Request for Singaporean Records

Do Kwon, the co-founder of Terra, has suffered a setback in his legal battle against the US Securities and Exchange Commission (SEC). United States District Judge Jed Rakoff has denied Kwon’s request to block the SEC from accessing records from the Monetary Authority of Singapore (MAS). Kwon is facing pressure from regulators and legal battles across the world, including his recent arrest in Montenegro. Prosecutors are investigating the source of funding for a Seoul-based law firm, Kim & Chang, which may result in further legal repercussions for Kwon. Additionally, South Korean prosecutors claim that Kwon converted illicit funds from LUNA

DeFi Platforms Brace for Regulatory Pressure Following SEC Chair Gensler's Testimony to House Financial Services Committee
1 year ago 2 mins read

SEC Chairman Gary Gensler Takes on DeFi Platforms in Testimony Before House Financial Services Committee

Gary Gensler, the Chair of the U.S. Securities and Exchange Commission (SEC), will testify before the House Financial Services Committee on April 18, 2023, at 10:00 am ET. The hearing is titled “Oversight of the Securities and Exchange Commission,” and Gensler will share his personal views on crypto markets and regulation. He makes it clear that his comments reflect his own opinions and not those of the SEC Commissioners or staff. Gensler’s prepared remarks address the crypto market and emphasize that most crypto tokens are considered securities. He stresses the importance of compliance with securities laws, stating that “it’s the

Bybit Establishes Global Headquarters in Dubai
1 year ago 1 min read

Bybit Establishes Global Headquarters in Dubai

Crypto exchange Bybit has officially opened its global headquarters in Dubai, following the company’s announcement last year of its plans to establish itself in the emirate. This move demonstrates the exchange’s commitment to expanding its presence in the Middle East and North Africa (MENA) region, which has become an increasingly important hub for digital asset trading. Dubai’s strategic location, as well as its progressive approach to digital assets, make it an ideal location for Bybit’s global headquarters, according to Ben Zhou, CEO and co-founder of Bybit. “As one of the most progressive digital assets hubs in MENA and the world,

UAE's Federal Financial Regulator Launches VASP Licensing Application Process
1 year ago 1 min read

UAE’s Federal Financial Regulator Facilitates Licensing for Virtual Asset Service Providers

The United Arab Emirates (UAE) has taken a major step towards regulating the virtual asset sector with the announcement that the Securities and Commodities Authority (SCA) will begin accepting licensing applications from firms that provide virtual asset services. The move comes after the UAE’s Cabinet issued resolution number 111 of 2022, aimed at regulating virtual assets and creating an attractive investment environment for global companies and institutions operating in the virtual assets sector. According to the SCA, all virtual asset service providers operating in the UAE must obtain a license from the regulator, with the exception of those licensed in

Israel's Central Bank Looks to the Future with Digital Shekel Proposals
1 year ago 1 min read

Israel’s Central Bank Explores Possibilities of Issuing a Virtual Currency

Israel’s Central Bank is keeping a close eye on various scenarios that could impact its decision to issue a digital shekel (SHAKED). These scenarios include the widespread adoption of stablecoins and a decline in the use of cash, as well as significant technological developments in payment systems and competition in the domestic payment system. The Bank of Israel’s steering committee on the potential issuance of a digital shekel emphasized in a recent report that it has not yet decided to issue a central bank digital currency (CBDC). While 90% of the world’s central banks are examining CBDCs, only a few

MicroStrategy chairman Michael Saylor has revealed that the firm has converted its corporate email address to a Lightning address
1 year ago 1 min read

MicroStrategy embraces Bitcoin lightning network, converts company mail to lightning address

MicroStrategy chairman Michael Saylor has revealed that the firm has converted its corporate email address to a Lightning address, a move that reflects the company’s continued bullishness on Bitcoin. Saylor disclosed the development in a tweet on April 17, saying “people keep sending me 21 sats.” This means that people can now send BTC to Saylor using his email as an identifier. The integration uses the Lightning Address protocol, which replaces standard Lightning payment requests with internet identifiers such as email addresses. The Bitcoin lightning network adoption has grown in recent years, with the total value of assets locked on

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