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Vitalik Buterin, the founder of Ethereum, joined the ongoing discussion on cryptocurrency regulation over the weekend.
2 years ago 1 min read

Vitalik Buterin says crypto “needs time to mature” before full adoption

Vitalik Buterin, the founder of Ethereum, joined the ongoing discussion on cryptocurrency regulation over the weekend. Sam Bankman-Fried, the CEO of FTX, has come under fire for his opinions regarding DeFi regulation. After stating that it “feels unfair to let other people get attacked by CT but never actually poke my own head out,” Buterin made the decision to express his ideas. According to Vitalik, the cryptocurrency sector needs more time to develop before receiving more attention, so it shouldn’t be pursuing “large institutional capital at full speed.” The creator of Ethereum argued that the market needs to be “free

FTX US Logo
2 years ago 1 min read

FTX US encourages employees to move to its new headquarters in Miami

In September, FTX US chose Miami over its previous hub in Chicago as the location for its new U.S. headquarters. After announcing Miami as its U.S. headquarters a month ago, FTX US, the operator of a cryptocurrency exchange, is encouraging staff to relocate there. According to those with knowledge of the situation, staff have been exhorted to make the transition by mid-November. Although FTX’s other American offices aren’t entirely closing, they are being reduced in size as the startup looks to concentrate its workforce in Miami, according to the sources. In a tweet in September, Sam Bankman-Fried, CEO of FTX,

2 years ago 1 min read

Sam Bankman-Fried is expected to profit by up to $100 million from Musk’s purchase of Twitter

According to several reports, FTX CEO Sam Bankman-Fried had a $50 million to $100 million interest in Twitter. The CEO and founder of the cryptocurrency exchange FTX, Sam Bankman-Fried, stands to gain up to $100 million from Elon Musk’s acquisition of Twitter. Before the transaction closed on Thursday, the exchange executive had shares of the social media behemoth valued between $50 million and $100 million, a source with intimate knowledge of the situation told The Block. Bankman-stake Fried’s in Twitter would be between 0.1% and 0.2% after Musk spent $44 billion to take the company private. After months of negotiations,

Vitalik Buterin talks about DeFi regulations
2 years ago 1 min read

Ethereum founder Vitalik Buterin talks about KYC in DeFi space

Vitalik Buterin talked about the influence of legislation on cryptocurrency. The creator of Ethereum expressed support for any legislation that makes it simpler for the sector to gain widespread adoption. But he labeled as terrible anyone who interferes with how blockchain technology operates. This comment builds on Buterin’s past views, in which he underlined the value of adoption and the reason it is crucial to remove any obstacles that would prevent the cryptocurrency market from thriving. Sam Bankman-Fried, the founder of FTX, had suggested KYC for DeFi frontends, which Buterin also commented on. According to the creator of Ethereum, such

Over 350 investors have filed a class action lawsuit against Do Kwon and other Terraform Labs participants.
2 years ago 1 min read

Over 350 investors have filed a class action lawsuit against Do Kwon and other Terraform Labs

Over 350 investors have filed a class action lawsuit against Do Kwon and other Terraform Labs participants. A class action lawsuit for $57 million has been filed against Do Kwon and other TerraUSD project participants by angry investors. Another legal dispute between Do Kwon and their accomplices could result in severe civil penalties. The Wall Street Journal reports that Kwon is facing a class action lawsuit on behalf of investors who lost $57 million as a result of TerraUSD stablecoin’s demise. These investors are now seeking aggravated damages in addition to their lost money. According to the class action lawsuit,

Singapore crypto laws
2 years ago 1 min read

Singapore’s recent crypto decision may open doors for rivals

Singapore recently suggested banning the use of borrowed money to purchase cryptocurrency by retail investors. Singapore‘s recent proposal on retail cryptocurrency trading may open the door for other competitors to overtake it as the industry leader. The nation recently suggested outlawing retail investors who borrowed money to buy cryptocurrencies. Hong Kong, however, intends to make retail cryptocurrency trading legal. In a recent interview with Bloomberg Television, Ravi Menon, the head of Singapore’s central bank, discussed his opinions of other financial jurisdictions that are attempting to enter the retail cryptocurrency market. Menon said they are not looking for competition and Singapore

Visa enters the crypto and NFT space
2 years 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
2 years 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
2 years 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
2 years 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
2 years 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
2 years 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

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