CRYPTO WORLD – Page 3 – CRYPTO WORLD NETWORK NEWS

JPMorgan uses blockchain for 24/7 dollar transfers with Indian banks

June 5, 2023 CRYPTO WORLD

Global financial services company JPMorgan continues exploring the benefits of blockchain, deploying the technology to eliminate some restraints of traditional finance. The banking giant has partnered with six major Indian banks to introduce a blockchain-based platform enabling interbank settlement of U.S. dollar transactions, Bloomberg reported on June 5. The participating banks include HDFC Bank, ICICI Bank, Axis Bank, Yes Bank, IndusInd Bank and JPMorgan’s own banking unit at Gujarat International Finance Tec-City, or GIFT City. The blockchain project aims to expand the capacity of the existing settlement system, JPMorgan’s senior…

Gemini’s banking relationship with JPMorgan ‘remains intact’

March 15, 2023March 9, 2023 CRYPTO WORLD

In a brief and straightforward message, crypto exchange Gemini denied rumors, saying its banking relationship with JPMorgan remains intact. Crypto exchange Gemini took to Twitter on March 8 to deny rumors about its banking relationship with United States financial conglomerate JPMorgan being terminated. In a brief and straightforward message, Gemini stated that “despite reporting to the contrary, Gemini’s banking relationship remains intact with JPMorgan.” The comments came in response to a previous report that claimed without naming a source that the banking ties between the two companies were ending. The…

US Government Transfers 40,000 Bitcoin, Will It Affect The Price?

March 13, 2023March 9, 2023 CRYPTO WORLD

The Bitcoin price is under heavy pressure due to fears of “sticky” inflation and yesterday’s ultra-hawkish comments from U.S. Federal Reserve (Fed) chairman Jerome Powell. At press time, BTC was trading just above $22,000 and continued to show no strength yet. At this time comes news that the US government is in the process of selling off some of its seized Bitcoin. Blockchain security firm PeckShield first reported that addresses associated with the US government transferred 49,000 BTC worth $1.08 billion today, which were seized from the Silk Road hacker.…

Vitalik Buterin Has an NFT Collection? Quadratic Funding Drop Pulls In Millions

March 10, 2023March 9, 2023 CRYPTO WORLD

Ethereum creator Vitalik Buterin is a Web3 luminary, so word today of an NFT collection featuring his apparent stamp of approval has set Crypto Twitter ablaze—and led to surging sales of the NFTs to the tune of several million dollars’ worth. The NFT collection, which celebrates Ethereum creator Vitalik Buterin’s contributions to a popular Web3 funding model, was created by Metalabel in collaboration with Web3 funding platform Gitcoin. The open edition mint launched on March 1, but NFT traders may have missed the memo before today when secondary sales suddenly…

Shiba Inu (SHIB) Becomes New Payment Option for Unstoppable Domains

March 9, 2023 CRYPTO WORLD

Unstoppable Domains, the decentralized domain provider, has announced that its users can now purchase its domain names using Shiba Inu (SHIB), the cryptocurrency that has gained significant popularity since its launch in August 2020. Unstoppable Domains has been consistently expanding the number of purchasing options by adding a wider range of cryptocurrencies. The company has already been accepting popular virtual currencies such as Bitcoin, Ethereum, and Litecoin. In early March, it added support for Dogecoin (DOGE). Unstoppable Domains is a technology that provides a decentralized name service to users for…

Tether Mints 1 Billion USDT Amid Bitcoin (BTC) Price Drop and Binance USD (BUSD) Scandal

February 13, 2023 CRYPTO WORLD

As reported by Whale Alert, stablecoin issuer Tether has minted another billion USDT. The event came right in the midst of the Binance USD (BUSD) scandal, which the U.S. Securities and Exchange Commission is reportedly seeking to have recognized as an unregistered security. Tether’s CTO, Paolo Ardoino, was quick to announce to the public that the minting of a billion USDT is an authorized but unissued transaction. This amount will be used as inventory for issuance requests in future periods as well as chain swaps, Ardoino stressed. USDT and BUSD…

Revolut users can now earn rewards for staking crypto

February 10, 2023 CRYPTO WORLD

UK fintech Revolut is launching a crypto staking feature that will enable users to gain returns on their holdings with additional crypto-based rewards. The feature will require Revolut users to participate in proof-of-stake blockchains to support the security of the network, akin to mining of many popular blockchains. UK and select EEA market users will be able to stake in various crypto blockchains such as Ethereum, Cardano, Polkadot and Tezos and can be compensated with rewards. Revolut crypto customers can earn up to 11.65% APY in rewards when staking in…

Lightning Network reaches all-time high in bitcoin capacity

February 6, 2023 CRYPTO WORLD

Lightning Network, a Layer 2 payment network built on top of the Bitcoin blockchain, has reached an all-time high in terms of capacity, or the amount of bitcoin (BTC) locked in payment channels. The payment channel capacity on the Lightning Network has grown 63% since the beginning of last year, according to data from The Block Research. Currently, the network has over 5,490 BTC ($128 million) in capacity, up from 3,350 BTC on Jan. 1, 2022. This is being seen as a positive sign for the adoption of Bitcoin transactions.…

North Korea hackers stole as much as $1.7bn in 2022

February 2, 2023 CRYPTO WORLD

Cyber hackers backed by North Korea carried out a theft of $1.7bn (£1.4bn) of crypto in 2022, taking the previous record of cryptocurrency threat up by at least four times, according to a report by a blockchain analysis firm. The past year was on record “the biggest year ever for crypto hacking”, Chainalysis said in its report. Isolated in the global market and reeling under international sanctions, cybercriminals in North Korea are allegedly turning to crypto theft to aid its booming nuclear arsenal. “For context, North Korea’s total exports in…

Genesis Global Capital Files for Bankruptcy Protection

January 20, 2023 CRYPTO WORLD

n the United States Bankruptcy Court for the Southern District of New York, Genesis Global Holdco (GGH) and two lending-related subsidiaries, Genesis Global Capital and Genesis Asia Pacific Pte. Ltd filed for Chapter 11 bankruptcy protection. According to the announcement, “Genesis’s other subsidiaries involved in the derivatives and spot trading and custody businesses and Genesis Global Trading are not included in the filing and continue client trading operations.” Yesterday, reports came in with speculation that Genesis is preparing to file for bankruptcy. The US SEC already charged Gemini and Genesis…

Crypto crime hits record $26.6 billion in 2022

January 13, 2023 CRYPTO WORLD

Illicit use of cryptocurrencies hit a record US$20.1 billion (S$26.6 billion) last year as transactions involving companies targeted by US sanctions skyrocketed, data from blockchain analytics firm Chainalysis showed on Thursday (Jan 12). The cryptocurrency market floundered in 2022, as risk appetite diminished and various crypto firms collapsed. Investors were left with large losses and regulators stepped up calls for more consumer protection. Even as overall crypto transaction volumes fell, the value of crypto transactions related to illicit activity rose for the second year running, Chainalysis said. Transactions associated with…

Fanatic sells 60% stake in Candy Digital amid ‘imploding NFT market’

January 11, 2023January 6, 2023 CRYPTO WORLD

Sports merchandise firm Fanatics is divesting its stake in nonfungible token (NFT) company Candy Digital as confidence in the asset class wanes. On Jan. 4, it was reported that Michael Rubin’s sports company Fanatics was offloading its majority 60% stake in the NFT startup. Fanatics was started in 2011 and has become a known name in sports merchandising and e-commerce, valued at $31 billion. However, the crypto bear market has hit the NFT sector hard in 2022, and Rubin’s firm is seemingly now looking to turn away from “standalone” NFT…

Digby Design Authenticator links furniture with NFTs to fight counterfeiting

January 9, 2023January 6, 2023 CRYPTO WORLD

Technology company Digby has partnered with American furniture brand Heller to launch a tool for establishing the authenticity of physical design products using the blockchain. Named Digby Design Authenticator (DDA), the system allows designers and brands to link each of their products to a non-fungible token (NFT), which effectively acts as a digital certificate of authenticity. Recorded on a blockchain, this provides an unchangeable, decentralised log of the product’s origin and ownership to prevent counterfeits. The first product to use DDA is Heller’s Vignelli Rocker, a plastic rocking chair designed…

Coinbase Stocks Rise Following $100M Settlement With US Regulators

January 6, 2023January 5, 2023 CRYPTO WORLD

Cryptocurrency exchange Coinbase reached an agreement to pay a $50 million penalty to New York state’s Department of Financial Services to settle accusations that it enabled customers to open accounts without conducting necessary background checks. The regulator stated that Coinbase violated the New York Banking Law and the New York State Department of Financial Services (DFS) virtual currency, money transmitter, transaction monitoring, and cybersecurity regulations. As per the settlement, the crypto exchange is also required to invest $50 million into its compliance program over the next two years. The $100…

The TON Foundation launches TON Storage – a next generation file-storage solution

January 5, 2023 CRYPTO WORLD

The TON Foundation has announced the long-awaited launch of TON Storage, a decentralized file-sharing and data storage solution that is set to solve a host of the issues posed by the volume of data our modern way of life requires. TON Storage is similar to peer-to-peer file sharing through “torrents,” but uses the TON (The Open Network) blockchain to transfer data through a decentralized, secure, and private computer network. In this way, users will be able to exchange files of any size freely and securely, with all data automatically backed…