Browsing:Crypto

Venom Foundation Announces the Release of its Public Testnet
1 year ago 3 mins read

Venom Foundation Announces the Release of its Public Testnet

Abu Dhabi, Abu Dhabi, April 25th, 2023 Venom, a Layer-1 blockchain that operates out of the Abu Dhabi Global Market (ADGM), today announced that its public testnet is officially live. The milestone marks a significant accomplishment in Venom’s roadmap as it prepares to launch on mainnet. Along with the testnet launch, Venom has also unveiled a host of in-house developed decentralized applications as part of its growing ecosystem. The testnet design suits both ecosystem users and developers. It enables developers to test and debug dApps and blockchain protocols, while allowing users to experience these dApps firsthand. The goal of the

The cancellation of an IAO on Arbitrum causes heated debate
1 year ago 1 min read

Arbitrum faces backlash for canceling decentralized exchange IAO

The Arbitrum decentralized exchange AlienFi’s cancelation of the Xirtam token’s initial airdrop offering (IAO) just minutes before its scheduled launch has caused controversy in the crypto community. While it’s unclear who was responsible for the cancelation, AlienFi alleged in a series of screenshots shared on Twitter that Xirtam had conducted a seed sale at a price 3x+ below the Fjord price, which wasn’t known to the AlienFi development team. After discovering the event, Xirtam decided to cancel the IAO, resulting in a pricing dispute. Xirtam had previously scheduled a two-part presale with liquidity protocol Fjord Foundry and a private-public sale

Circle’s Cross-Chain Protocol Connects Ethereum and Avalanche Stablecoins
1 year ago 1 min read

Circle Launches Cross-Chain Stablecoin Transfers between Ethereum and Avalanche

Circle has released its Cross-Chain Transfer Protocol (CCTP) for Ethereum and Avalanche chains, making it possible for users to transfer their USD Coin stablecoin (USDC) between the two blockchain networks. The CCTP eliminates the need for traditional lock-and-mint approaches and allows developers to offer a secure experience to users for moving USDC natively across chains. Circle’s USDC is the second-largest stablecoin in the crypto market with a total supply of nearly $29 billion. The CCTP has already been integrated by bridge projects and interoperability-focused protocols such as Celer Network, Li.Fi, Layer Zero, Multichain, and Router Protocol, and will soon be

First Republic Bank
1 year ago 1 min read

First Republic Bank Shares Drop 26% Following $100 Billion March Withdrawal

First Republic Bank, one of the largest banks in the United States, has been hit hard by the recent collapse of Silicon Valley Bank, with as much as $100 billion withdrawn from the bank in just two weeks. While the bank was able to reduce its short-term borrowing through a time deposit from some of the largest US banks, it remains in a precarious situation, having borrowed as much as $138 billion in March and still owing $104 billion to the Federal Reserve, the Federal Home Loan Bank, and JP Morgan. The situation has been compounded by the fact that

Animoca Brands’ subsidiary TinyTap raises US$8.5 million to disrupt education with Web3
1 year ago 5 mins read

Animoca Brands’ subsidiary TinyTap raises US$8.5 million to disrupt education with Web3

Tel Aviv, Israel, April 25th, 2023 TinyTap, a subsidiary of Animoca Brands and the leading edtech platform for user-generated educational games, today announced that it has raised US$8.5 million from investors including Sequoia China, Liberty City Ventures, Kingsway Capital, Shima Capital, Polygon, GameFi Ventures, and others. The funding will be used to support TinyTap’s business expansion and accelerate development in the edtech space. The investment will enable TinyTap to continue to expand its successful Web2 platform, which already serves over 9.2 million registered members, into an alternative Web3 education system that better values teachers by improving the earning opportunities available to them, and

Voyager Digital
1 year ago 1 min read

Binance.US terminates Voyager Digital asset purchase agreement

Voyager, a digital asset brokerage firm, announced that it has received a letter from Binance.US, terminating its asset purchase agreement. Despite this development, Voyager stated that its Chapter 11 plan allows for direct distribution of cash and cryptocurrency to customers through its platform. The termination of the asset purchase agreement came as a disappointment to Voyager. However, the company remains committed to its plan of returning value to its customers through direct distributions. Voyager also noted that it will provide more information on the next steps and any actions customers need to take in the coming days. The firm reassured

CoinGecko Study Reports Massive $2.8 Trillion Crypto Spot Trading Volume in Q1 2023
1 year ago 1 min read

Crypto Spot Trading Volume Reaches $2.8 Trillion, CoinGecko Q1 2023 Study Reveals

CoinGecko’s latest study reveals that the first quarter of 2023 saw the crypto market come to life, with digital asset spot trading volume among the top ten crypto exchanges hitting a staggering $2.8 trillion. This is an increase of 18.1% from the previous quarter. The study shows that monthly trading volumes have been on an upward trend since the lows of $0.5 trillion seen in December 2022. However, average monthly volumes have yet to reach the levels of the first half of 2022, which were last seen at nearly $1 trillion. The CoinGecko report also highlights the impact of the

Coinbase has taken legal action in a US fed court to compel the country’s securities regulator
1 year ago 2 mins read

Coinbase Takes Legal Action to Force SEC Response to Rulemaking Petition

Coinbase, the popular cryptocurrency exchange, has taken legal action in a US federal court to compel the country’s securities regulator, the Securities and Exchange Commission (SEC), to provide a clear response to a petition that has been pending since July of last year. The exchange had initially requested that the SEC propose and adopt clearer regulatory guidelines for the cryptocurrency industry in the US. The petition contained a total of 50 specific questions seeking clarification on the regulatory treatment of certain digital assets. Coinbase has accused the SEC of dragging its feet and failing to meet its obligations under the

Bank of Korea has been granted the authority to investigate local crypto exchanges
1 year ago 1 min read

South Korean Central Bank Granted Authority to Conduct Inspections on Crypto Companies

Bank of Korea (BoK) has been granted the authority to investigate local cryptocurrency exchanges operating in the country. The new power allows BoK to conduct on-site inspections and request financial records to monitor the activities of crypto exchanges more closely. BoK’s main objective is to maintain price stability in the country and to control and improve the economy. The move comes amid growing concerns over the potential risks posed by cryptocurrencies to financial stability and the economy, including money laundering and tax evasion. The Bank of Korea is willing to take further steps to curb such occurrences by issuing fines

1 year ago 1 min read

Europe Takes the Lead in Crypto Regulation with Digital Euro Plan

The European Parliament has approved the EU Commission’s proposed MICA legislation, which aims to create uniform regulatory standards for the cryptocurrency industry across EU countries. The legislation will be sent to the European Council for final approval in the coming months. The proposed law introduces comprehensive safeguards and regulations to protect clients and investors, including the requirement for crypto exchanges to hold clients’ funds and adequate capital buffers. Stablecoin issuers must prove their stablecoin is backed 1:1 with cash. The regulations also include extensive anti-money laundering (AML) and know-your-customer (KYC) regulations. The European Commission is also preparing for the launch

Tiger Global's Venture
1 year ago 1 min read

Tiger Global’s Venture Fund Discloses 20% Loss Amid Crypto Market Turmoil

Tiger Global Management, a leading tech investor, is facing significant losses due to its investments in blue-chip crypto businesses. According to reports, the company informed investors that its $12.7 billion venture fund had suffered a 20% loss as of December 2021, largely due to losses from half a dozen major crypto startups. This includes a complete wipeout of its investment in FTX, which collapsed in November. Tiger Global’s investments in NFT marketplace OpenSea, Bored Ape Yacht Club creator Yuga Labs, payments firm MoonPay, decentralized wireless network startup Helium, and Sam Altman’s Worldcoin have also been marked down, causing significant losses

Binance Adds Floki Inu [FLOKI] to Its Platform
1 year ago 1 min read

Floki Inu (FLOKI) Rises Over 40% in 24 Hours Following Binance Listing

Floki Inu (FLOKI) has made headlines in the crypto world with its unprecedented growth in the last 24 hours. Despite bearish sentiment prevailing in the market, FLOKI’s price surged over 40%, and at press time, it was trading at $0.00004099 with a market capitalization of $398 million. Thanks to this surge, FLOKI has reclaimed its spot among the top 100 cryptos by market cap and currently sits at the 95th spot. The driving force behind FLOKI’s sudden surge is Binance, which recently listed the crypto on its platform. Binance announced that trading on FLOKI/USD and FLOKI/USDT pairs will commence on

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