Bluesky, Decentralized Social Project Is Open to Public

Bluesky social app

Bluesky, a decentralized social application backed by Jack Dorsey, the founder of Twitter, has officially launched for public use. This micro-blogging platform aims to establish itself as an alternative to X, previously known as Twitter and now owned by Elon Musk. Bluesky Faces Challenge in Social Media Landscape As the decentralized social media platform Bluesky opens its doors to the public, it grapples with the daunting task of carving out its niche in a crowded market dominated by giants like Twitter and Mastodon. Despite amassing approximately 3 million sign-ups during…

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Monero (XMR) To Be Delisted On Binance

Monero crypto Binance

In a surprising move, Binance, one of the leading cryptocurrency exchanges, has announced that it will remove four altcoins from its platform starting February 20th. The affected coins are Aragon (ANT), Multichain (MULTI), Vai (VAI), and the privacy-focused Monero (XMR), which has attracted the most attention. While the exact reasons for these removals remain unclear, it has sparked speculation and concerns about the changing rules for cryptocurrency exchanges. Privacy Worries and Regulatory Pressure Experts believe that Monero’s ability to keep transactions private might be a reason for its removal. Monero…

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Moody’s unveils service that uses AI to predict stablecoin depeggings

Schematic of Moody’s Digital Assets Monitor

Moody’s Analytics is launching a new stablecoin service that will use AI to predict probable depeggings “in a 24-hour time horizon” while providing real-time insights about stablecoin issuers’ liquidity and stability. The stablecoin market is getting stabler, Moody’s observed in its Nov. 6 announcement for the launch of Digital Asset Monitor (DAM). So far in 2023, there have been 1,914 depeggings, 609 of which were fiat-backed large-cap stablecoins. This compares with 2,847 in all of 2022, 707 of which were large-cap. While some correlation to rising interest rates can be…

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US Acquires 200,000 Bitcoins Through Three Seizures

Bitcoin USA

A recent report unveiled the bitcoin holdings of the Federal Government of the United States, accounting for around $5 billion worth of BTC. According to the Wall Street Journal, three recent seizures yielding over 200,000 bitcoins have made the United States one of the largest bitcoin holders in the world. Prominent Chinese reporter Colin Wu took to X (formerly Twitter) earlier today to reveal the United States’ acquisition of the largest cryptocurrency by market cap. The seized bitcoins were primarily traced to cyber criminals and darknet markets. They were stored…

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MetaMask Temporarily Removed from Apple’s App Store

MetaMask logo

On October 14, the leading Ethereum wallet, MetaMask, was temporarily removed from the Apple App Store, raising fears of a permanent ban. MetaMask, which has over 30 million users worldwide, informed the community that the problem was not caused by security concerns or malicious activity. Apple’s service regulations, which ban “unrelated background processes” such as cryptocurrency mining, are thought to be the cause of the brief removal. The company indicated that MetaMask would be available again via the App Store soon. This isn’t MetaMask’s first encounter with tech giants. In…

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Bank of China tests SIM card NFC payments for digital yuan

Bank of China digital yuan e-CNY

Bank of China, one of China’s largest state-owned banks, is testing a new offline payment method linked to SIM cards for digital yuan, or the e-CNY, the country’s in trial central bank digital currency (CBDC). Bank of China has partnered with telecommunication operators China Telecom and China Unicom to start testing the new feature on Tuesday, the bank said Monday in a social media post. The bank intends to allow users to make payments with their phones by connecting its e-CNY app with what it calls “super SIM cards” that…

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Brazilian CBDC Could Reportedly Allow Government to Freeze or Manipulate Accounts

Digital Brazilian Real

The source code for the Brazilian CBDC in testing was analyzed by blockchain dev Pedro Magalhães. Brazil has been developing a CBDC for some time now. If all goes according to plan, the digital Real will be launched sometime in 2024. Once launched, it would support retail payments for anyone inclined to use it, backing up the payment with funds in the users’ bank accounts. Planning Ahead The Brazilian CBDC would not, however, interfere with other payment methods common in Brazil, such as Pix. According to a spokesman for the…

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Binance reportedly withdraws from Austria

Binance

Cryptocurrency exchange Binance has reportedly withdrawn its application in Austria and is now focusing on achieving MiCA compliance. Binance is fighting battles on multiple fronts in 2023, as it tries to fend off the US Securities and Exchange Commission while pulling out from several markets in Europe. Specifically, the cryptocurrency exchange has left the Netherlands after it failed to secure a licence from the Dutch central bank, and it also faced an investigation in France concerning its anti-money laundering procedures. Now, reports from Finance Forward have surfaced that Binance is…

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More than 50 Crypto Tokens including ADA, LUNA, and TRX Now Considered Securities by the US SEC

tokens securities US SEC

Our cherished digital assets may not be as innocent as you think!” This line could easily be mistaken for sensationalist tabloid fodder, but unfortunately for crypto enthusiasts around the globe, it has become a startling reality. In a move that has left the world of digital currencies in a state of shock and uncertainty, the US Securities and Exchange Commission (SEC) has officially classified more than 50 popular cryptocurrency tokens – including the likes of Cardano ($ADA), Terra ($LUNA), and Tron ($TRX) – as securities. Let’s take a look at…

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

Onyx platform

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…

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Gemini’s banking relationship with JPMorgan ‘remains intact’

JPMorgan Chase

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…

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

Bitcoin balance of the US government

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.…

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

NFT Gitcoin Presents

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…

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

Shiba Inu (SHIB) Payment Option

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…

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Revolut users can now earn rewards for staking crypto

Revolut staking

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…

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