Ethereum’s announcement of its transition to Proof-of-Stake (PoS) from the Proof-of-Work (PoW) protocol did not come as a piece of cheering news for the category of people. The people whose activities are threatened by the upcoming Merge are the Ethereum miners. As a result, the aggrieved miners are called the ETHPOW group. The ETHPOW group…
Since the inception and growth of BTC, various BTC supporters have stated that it would overtake Gold in terms of value. Meanwhile, the market has been pretty rough for Bitcoin as its market valuation fell out of the top ten earlier this year. However, reputable cryptocurrency experts have upheld that the prediction of BTC overtaking…
According to reports, Binance, a famous cryptocurrency exchange, has recovered a large chunk of the assets stolen in the latest Curve Finance breach. About $450,000 have been frozen and reclaimed by the firm. Changpeng Zhao, the CEO of Binance, confirmed the news on his Twitter account. This means that approximately 80% of the plundered funds…
According to reports, a recent innovation with a cellular network could allow millions of users to trade BTC. This includes those who could not use BTC due to a lack of internet connections. The latest technology does not use a data connection to operate. Kgothatso Ngako, a developer in South Africa, has developed a tool…
The Ethereum network is leaping for the upcoming merge in September. This merge would mark Ethereum’s transition from the PoW consensus mechanism to the PoS. Meanwhile, as the crypto community awaits the Merge, several players in the industry are making plans. Among them is the popular protocol, Chainlink. Chainlink Will Not Support Forked Versions Of…
The Director of Brazil’s central bank, Fabio Araujo, has lauded Bitcoin’s properties. He referred to the flagship currency as the catalyst for Web3 development. According to the Director, BTC is a financial asset that uses modern technology. He made this statement while speaking at an event sponsored by a Business School in Sao Paolo. Furthermore,…
Today, Israel has imposed further restrictions on the usage of cash for payment. The aim is to reduce the case of illegal activities and increase the usage of digital payment options. Israel Government Pushing Citizens To Embrace Digital Payment In January 2019, the government subjected Israeli consumers and businesses to cash payment limits. It also…
Vitalik Buterin, ETH’s co-founder, thinks that corporate efforts to develop and expand the metaverse would not succeed. He made this assertion while responding to Dean Eigenmann’s post. According to Buterin, the idea of the metaverse is appealing. However, he said that venture capital funding is not what will fuel the progress of the sector. Eigenmann…
On July 29th, FZE, the sister company of crypto platform FTX, received the first MVP (Minimal Viable Product) license to operate in Dubai. This would give FZE permission to operate fully in the country. FZE Receives MVP License To Operate Fully The MVP license was issued by the country’s regulator, the VARA (Virtual Asset Regulatory…
A Senator in the United States has sent a letter to the CEOs of popular companies, Google and Apple. In the letter, the senator asked them to help tackle the issue of fraud using fake cryptocurrency apps. Both platforms have app stores where users can upload applications for others to download. The senator asked both…
The CBK (Central Bank of Kenya) is working on issuing a digital Shilling. This shows that Africa is gradually opening up to the adoption of CBDCs. However, the IMF has warned that Kenya’s CBDC could limit private digital currencies. Also, it could harm banks and fintech firms by stealing their customers. Hence, the IMF has…
Although the crypto market has been on a bearish run, several companies continue to invest in crypto-based firms. However, reports show that the bearish market has reduced the number of funding for crypto firms. Global financial company, Barclays PLC, has stated that it would invest funds in the crypto company Copper. This investment is part…
The US FTC (Federal Trade Commission) had submitted a lawsuit against Mark Zuckerberg and Meta. The lawsuit aims to prevent the social platform from owning the metaverse. The FTC alleged that Meta’s potential acquisition of Within, a VR firm, and Supernatural, a fitness app, is illegal. The commission cited the antitrust laws in the US,…
Crypto exchange platform FTX.US has added numerous stocks to its platform. This aims to expand its services to include mainstream assets apart from virtual currencies. Meanwhile, FTX has been in the news lately, rescuing falling crypto firms. The platform even offered to help Voyager Digitals with withdrawals. FTX.US Now Offers Stock Trading For US Users…
The SMBC (Sumitomo Mitsui Banking Corporation) ‘s second largest bank in Japan, has revealed plans to expand in the digital asset sector. As per reports, the bank will devolve into the world of Web3 and NFTs. Additionally, the bank will collaborate with the Hashport group. This group offers listing and tokenization services in Japan. With…
Countries and fintech firms are becoming receptive to the Web3 industry. This is due to the potential of the industry and the benefits it can offer. Japan has also embraced the industry. The country’s METI (Ministry of Economy, Trade and Industry) has opened a Web3 Policy Office in the country. Japan’s Fighting To Accelerate Web3…
China has been making headlines with its CBDC recently. The digital Yuan has received wide usage compared to other CBDCs globally. Meanwhile, the country has vowed to safeguard the privacy of those using the digital Yuan. This is due to recent criticisms from analysts. China To Prevent Illicit Usage Of The Digital Yuan According to…
Bankrupt cryptocurrency platform Voyager Digital is working on resuming withdrawals on its platform. According to the firm, it has sent permission to the court to allow users to withdraw their balance. Meanwhile, FTX exchange has offered to help the platform with the withdrawal process. FTX offers to allow the customers of Voyager to withdraw using…
As technology continues to advance, the issue of cybersecurity becomes more crucial for companies. This is due to increased fraud and data theft going on the internet. As a result, the CEO of PolySwarm firm, Steve Bassi, has called on firms to embrace blockchain technology for improved cybersecurity. PolySwarm’s CEO Highlights The Need For Blockchain …
The latest report shows South Korea has decided to delay its crypto tax implementation. The government had initially issued a 20% crypto tax that will become effective next year January. However, the government has delayed the date until 2025. South Korea Delays 20% Crypto Tax Till 2025 Officials of the state announced the postponement on…
