Category: Crypto

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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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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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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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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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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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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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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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…

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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…

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Russia’s central bank is ready to consider allowing cryptocurrency use within the country, but only as part of a legal experiment, said governor Elvira Nabiullina. “It’s possible to consider transactions through an authorized organization in the country as part of an experimental legal regime, but that would require a relevant law,” Nabiullina stated during a Bank of Russia press conference on Dec. 16. The Bank of Russia’s primary objection to crypto has always been that it cannot be used as a payment instrument, Nabiullina emphasized. She added that the central…

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