Tag: crypto news

Yield App – the official digital asset wealth management partner of premier league football club West Ham United – has unveiled the hotly anticipated Version 2 (V2) of its platform, just 11 months since it launched in February 2021. In this short time, Yield App has garnered more than 70,000 users and more than $420 million in managed assets. The platform currently offers market-leading rates on USDT, USDC, BTC and ETH, as well as attractive rewards for holders of its native token, YLD. This new, second version of the platform…

Joe Biden Claims Inflationary Pressure ‘Rests With the Federal Reserve,’ Praises the Fed’s ‘Extraordinary Support’

On Wednesday, U.S. president Joe Biden explained that the country’s central bank was dealing with a large share of the inflationary pressures the American economy is dealing with today. Biden welcomes the possibility of tightening monetary easing and noted that he “respects the Fed’s independence.” US President Joe Biden Says a ‘Critical Job in Making Sure Elevated Prices Don’t Become Entrenched Rests With the Federal Reserve’ Inflationary pressures have been building in the U.S. as consumers are paying far more for goods and services in 2022, and last year’s prices…

SEC Chairman Gary Gensler Stresses Crypto Trading Platforms Must Be Regulated to Ensure Investor Protection

The U.S. Securities and Exchange Commission (SEC) is focusing on bringing cryptocurrency exchanges “inside the investor protection remit,” Chairman Gary Gensler has revealed. “If the trading platforms don’t come into the regulated space, it’d be another year of the public being vulnerable,” he stressed. SEC Focusing on Regulating Crypto Exchanges The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, talked about crypto regulation and the SEC’s priorities in a virtual press conference Wednesday. Gensler said that he’s hopeful cryptocurrency trading platforms will take steps to become more…

Report: Meta and Instagram Are Exploring an ‘Early Stage’ NFT Feature

Meta Platforms, Inc., formerly known as Facebook, Inc., is reportedly experimenting with non-fungible token (NFT) technology, according to unknown sources speaking with the Financial Times (FT). Allegedly, Meta is “readying” an NFT feature but it is “at an early stage and could yet change.” Meta and Instagram Are Reportedly Experimenting With NFT Tech A report stemming from the financial news outlet FT says that Meta and the firm’s subsidiary Instagram are currently exploring NFT technology. FT quotes unnamed sources familiar with the matter, that claim Meta and Instagram are conversing…

Crypto.com Reveals 483 Accounts Compromised in Recent Hack — $34 Million in Bitcoin, Ether Stolen

Crypto.com has revealed that 483 user accounts were compromised in the recent hack that resulted in unauthorized withdrawals of about $34 million in cryptocurrencies, including bitcoin and ether. Nonetheless, the company stressed that customer funds were never at risk. Crypto.com’s Hack Postmortem and CEO’s Comments Crypto.com revealed Thursday the number of users affected by the unauthorized crypto withdrawals that occurred on Jan. 17 and the cryptocurrencies stolen. The company wrote: The incident affected 483 Crypto.com users. Unauthorized withdrawals totaled 4,836.26 ETH, 443.93 BTC and approximately US$66,200 in other currencies. At…

Spellfire Oversubscribed Twice, a Staggering $3.8M Raised

Spellfire Re-Master the Magic, a modern take on classic collectible card games, has completed its private funding round, raising a staggering $3.8 million. Leading investors DAO Maker and Shima capital, are joined by Genblock, IBC group, Faculty group, IBA, Maven Capital, Autonomy Capital, Terranova ventures, x21 Digital and others who initially funded the project, and interest has since skyrocketed past all initial funding goals. The project is now close to being oversubscribed twice, marking a huge success for Spellfire’s development team, and leaving many of the industry’s top VC investors…

Opensea Acquires Dharma Labs, Co-Founder Is Named New CTO

Opensea, one of the biggest NFT marketplaces globally, recently announced it is acquiring Dharma Labs. The price is believed to be between $110 million and $130 million. As a result of the new agreement between the two companies, Nadav Hollander, a co-founder at Dharma Labs, will become the new chief technology officer (CTO) at Opensea. Opensea’s New Valuation One of the leading marketplaces for NFTs globally, Opensea recently confirmed it is acquiring the defi crypto wallet startup Dharma Labs. The acquisition of Dharma Labs for a price thought to be…

Regulator Reiterates Call for EU Ban on Proof-of-Work Mining

The EU should prohibit proof-of-work crypto mining, an executive at the European securities watchdog has insisted. Coins relying on the energy-intensive method of minting pose a risk to efforts aimed at meeting climate change goals such as those set in the Paris Agreement, the regulator says. Bitcoin Mining Now Attacked in EU for Burning Too Much Renewable Energy A high-ranking financial regulator has reiterated a call for an EU-wide ban on cryptocurrency mining based on the proof-of-work concept. The power-hungry model employed in the minting of major cryptocurrencies like bitcoin…

Main Opposition Candidate for President of South Korea Pledges Support for Crypto Tax Exemptions

The leading presidential candidate of the opposition in South Korea has promised voters to ease the tax burden on crypto-related profits through exemptions. In a recent statement, Yoon Suk-yeol indicated that crypto investors will be treated like those who put money into stocks. Presidential Candidate Looks to Attract Young Voters With Crypto Tax Cuts Yoon Suk-yeol, the nominee of South Korea’s conservative People Power Party for the upcoming presidential elections in March, has announced his intention to back the raising of the threshold for the tax on gains from crypto…

Microsoft Reveals Activision Purchase for $68.7 Billion as an Approach to the Metaverse

Microsoft, the software behemoth, announced today it had completed a deal to acquire Activision Blizzard, one of the biggest game developers and publishers in the gaming world. The deal, which involves an all-cash transaction valued at $68.7 billion, will give Microsoft ownership of important franchises like “Call of Duty,” “Candy Crush,” “World of Warcraft,” and “Diablo.” The company also mentioned this acquisition would provide building blocks for the metaverse. Microsoft to Acquire Activision to Build Its Metaverse Microsoft, one of the leading software companies in the world, announced the acquisition…

Pakistan Telecom Authority Asked to Block Over 1,600 Crypto Sites — Minister Says Government Intends to ‘Regularize’ Crypto

The Pakistan Telecommunication Authority has been requested to ban more than 1,600 crypto websites by the Federal Investigation Agency (FIA). The action followed a complete crypto ban recommendation by the central bank, the State Bank of Pakistan (SBP). Meanwhile, the country’s science minister said that the government intends to “regularize” crypto in the country. Pakistan’s FIA Taking Action Against Crypto Websites, Backing Central Bank’s Crypto Ban Recommendation Pakistan’s Federal Investigation Agency (FIA) has written to the Pakistan Telecommunication Authority (PTA) requesting the telecom regulator to block access to more than…

Mars4 Metaverse NFT Sale Raises Over $250K in a Day: The World’s First Virtual Mars NFTs Are Selling Rapidly

Mars4 is a multi-tiered project that combines NFTs, Crypto and an immersive survival game together. Through mars4.me, we give you a window to a virtual Mars and a host of investment opportunities via the world’s first revenue-generating NFT. The sale of Mars4 NFTs raised over $250K in a day and saw land plots sell swiftly. Now is the right time to think about becoming a Mars landlord and the profit it will bring in the near future. Epochs: Tiered Crypto Returns Mars4 NFTs represent geographically-exact plots of land across the…

Crypto Scam Websites Attracted Millions of Indians Last Year, Chainalysis Says

Indians visited crypto scam websites nearly 10 million times last year, according to blockchain data analytics firm Chainalysis. The top crypto scam sites alone were visited 4.6 million times by Indian users. Millions of Indians Visit Crypto Scam Sites Indians visited scam crypto websites in droves over the past years, according to data from blockchain analytics firm Chainalysis. The firm found that Indians visited cryptocurrency scam websites 9.6 million times last year. In 2020, the figure was much higher. Crypto scam websites were visited 17.8 million times by Indian users.…

Exploring the CropBytes Metaverse: A Futuristic Crypto Game With Real Economics and Immersive Graphics

On January 20th, CropBytes, the four-year-old metaverse farming game, is launching the brand new terrain with immersive 3D graphics. The new version upgrade greatly improved the already cute graphics of the game and brought a fresh feeling that adapts to the latest game aesthetics on mobile devices. What’s more, it keeps all the fun! Introduction The farm simulation game CropBytes was launched in 2018 and has quickly become one of the most immersive crypto gaming experiences with a global game community, surpassing 400,000 organic downloads. The NFT game is available…

China’s Central Bank Digital Currency Now Has 261 Million Users — $14 Billion in Digital Yuan Transactions Made

China’s central bank digital currency now has 261 million unique users, according to an official of the central bank, the People’s Bank of China (PBOC). Furthermore, transactions worth 87.5 billion yuan ($13.78 billion) have been made using the digital yuan and more than 8 million merchants now accept e-CNY. China’s Central Bank Digital Currency Growing in Adoption Zou Lan, head of financial markets at the People’s Bank of China (PBOC), provided an update on the country’s central bank digital currency (CBDC), the digital yuan, at a press conference Tuesday. According…

Mastercard and Coinbase Partner to Make NFTs More Accessible to Everyone

Payments giant Mastercard has partnered with cryptocurrency exchange Coinbase to make non-fungible tokens (NFTs) more accessible to everyone. Mastercards can be used to make purchases on Coinbase’s upcoming NFT marketplace. Mastercard Partners With Coinbase Payments giant Mastercard and cryptocurrency exchange Coinbase independently announced their partnership Tuesday. Mastercard stated that the company is “Making it easier for everyone to buy NFTs,” elaborating: We’re excited to announce today that we’re partnering with Coinbase to let people use their Mastercard cards to make purchases on Coinbase’s upcoming NFT marketplace. “Getting more people involved…

SCRT Labs Launches $400 Million Fund to Bolster Privacy Network’s Ecosystem and Application Layer

On Wednesday, the Secret Network announced the launch of a $400 million fund in order to expand the application layer and provide grants to ecosystem participants that accelerate user adoption. The market capitalization for the network’s native token SCRT is the third-largest privacy-centric crypto asset market today with a $1.4 billion market cap. SCRT Labs Launches $400 Million Fund, SCRT Jumps Over 47% During the Last Week At the time of writing, there is over $11 billion worth of privacy-centric crypto assets today, according to coingecko.com’s “top privacy coins by…

Dvision Network Deploys on Polygon Mainnet as Widespread Interest in Metaverse Continues

PRESS RELEASE. Dvision Network is currently live on Polygon Mainnet, further solidifying their position as the definitive multichain metaverse protocol. It must be noted that Dvision Network recently had their first primary and de facto biggest LAND Sale on BSC (Binance Smart Chain), selling out in a matter of minutes across three platforms which included Binance NFT and NFTb. The addition of Polygon Network support foreshadows the imminent second round of the LAND NFT Sale for the Dvision Metaverse, which will reportedly take place in the first quarter of 2022…

Bitcoin Dominance Increases, ETH’s Market Share Slides, Stablecoin and Smart Contract Coins Rise

On Wednesday, the crypto economy of 12,620 coins across 543 exchanges is hovering just above the $2 trillion mark. Ever since the crypto economy’s market slump, bitcoin’s market dominance among all the coins in existence has slowly risen from 37% zone back over the 38% range. Meanwhile, Ethereum’s market dominance has diminished as it has slid from 18.6% to 17.7% since January 6. Bitcoin and Ethereum Dominance Shifts, Top Stablecoin and Smart Contract Tokens Command More Than 44% of the $2 Trillion Crypto Economy Bitcoin’s (BTC) market dominance has increased…

Ethereum Fees Drop 35% Since Last Week, Average ETH Gas Fee Still Above $30 per Transfer

According to statistics, Ethereum network transaction fees have dropped 35% from the transfer fees recorded seven days ago. At the time of writing, the average fee to transact with ethereum is 0.0099 ether or $30.85 to $33.04 per transfer. The cheapest Layer two (L2) method to transfer ether on Wednesday is $0.25 per transaction using Polygon Hermez. It’s Cheaper to Move Ethereum Today, Network Still Has Higher Transfer Fees Than Most Blockchain Networks While data transfer fees on the Ethereum network have slid 35% in the past week, fees are…

US Senator’s Inflation Report Says ‘Its Only Going to Get Worse,’ Truflation Oracle Reveals True Inflation Rate

America’s media, central bankers, and bureaucrats continue to debate the rising inflation in the U.S. that has raised the cost of living and increased the prices of goods and services nationwide. Senator Rand Paul, R-Ky., believes the inflation is “only going to get worse” and he published a report on the issue and blamed excessive coronavirus relief spending by Congress. Furthermore, a new decentralized method of measuring inflation has been introduced called Truflation, a tool that provides a “daily, unbiased, data-driven, real-market inflation rate.” Rand Paul’s Inflation Report Uncovers the…

Cryptocurrency ATMs Close Down in Singapore Following Central Bank’s Announcement

Cryptocurrency ATMs have closed down in Singapore following the guidelines issued by the central bank, the Monetary Authority of Singapore (MAS). “To comply with the sudden announcement, we have ceased to offer buy or sell services via our five ATMs while seeking further clarification from the MAS,” said one crypto ATM operator. Crypto ATMs Shut Down in Singapore to Comply With the Central Bank’s Guidelines Cryptocurrency ATMs are closing down in Singapore to comply with new regulations published Monday by the central bank, the Monetary Authority of Singapore (MAS). Singapore’s…

How GAIMIN Is Supporting Metaverse and Web 3.0 Ecosystems

Facebook changes its name to Meta and the world suddenly becomes interested in the metaverse however the term has been around for some time, and is closely associated with Web 3.0. So what is Web 3.0, the Metaverse and how is GAIMIN involved? Web 3.0 Web 3.0 is the term used to describe the next paradigm shift in the Internet. In Web 1.0, Internet browsers connected everyone online – Netscape for example. Web 2.0 is where we were connected into online communities – Facebook. Web 3.0 is perceived to be…

Bitmex Acquiring German Bank to Create ‘Regulated Crypto Powerhouse’ in Europe

Crypto exchange Bitmex is acquiring a German bank to create “a regulated crypto powerhouse.” The company plans to establish “a one-stop shop for regulated crypto products in Germany, Austria, and Switzerland.” Bitmex Plans to Become a Regulated Crypto Powerhouse Cryptocurrency exchange Bitmex announced Tuesday a purchase agreement of Bankhaus von der Heydt, a German bank located in Munich, by BXM Operations AG, a company founded by Bitmex CEO Alexander Höptner and CFO Stephan Lutz. Bitmex tweeted Tuesday: We’re one step closer to creating a regulated crypto powerhouse in the heart…

Gold Miner Says Investors Prefer Hedging Against Inflation With Gold, Not Crypto

The CEO of a Canada-headquartered gold mining company, Mark Bristow, has insisted that gold currently has little downside risk. He also highlighted the precious nature of the metal and how it is a better alternative store of value than cryptocurrencies. Better Inflation Hedge Mark Bristow, the CEO of Canada-based Barrick Gold Corp., recently argued that gold has little downside risk and investors seeking to hedge against inflation will pick the precious metal over cryptocurrencies, a report has said. The CEO made these comments despite some analysts predicting that the precious…

Crypto Miner Convicted in Russia for Allegedly Stealing Power to Mint Digital Coins

A regional court has sentenced a man accused of illegally connecting his crypto farm to the grid to two years in prison. The decision comes as authorities in Moscow prepare to address the lack of proper regulations for cryptocurrency mining, which has become a popular source of income in Russia. Illegal Crypto Farm Burns 1.3 Million kWh in Komi, Russia The city court in Syktyvkar, capital of the Russian Komi Republic, has found a 39-year-old local resident who was operating an underground crypto farm guilty of electricity theft. The hardware…

Financial Market Committee Chair Aksakov Joins Calls for Identification of Russian Crypto Owners

Anatoly Aksakov, head of the Financial Market Committee at the Russian parliament, has reiterated a warning for cryptocurrency investors and insisted that Russians owning coins should declare their digital assets. The parliamentarian also urged for the comprehensive regulation of crypto mining and taxation. Aksakov Warns Russian Crypto Investors They Can Lose Everything Russians have put 5 trillion rubles (around $67 billion) into crypto and some of them may lose everything as cryptocurrencies are not backed by anything, Anatoly Aksakov, a deputy with a key role in the regulation of Russia’s…

Invictus NFT Lab Blazes Trail for a New Fine Art Paradigm

In our view, blockchain technology and non-fungible tokens (NFTs) present a perfect tool to revolutionize the traditional Fine Art industry, to the benefit of both artists and collectors. With this in mind, the Invictus NFT Lab’s inaugural Out of Africa collection aims to blaze the trail by facilitating, via the Ethereum blockchain, the sale of a professionally-curated collection of 118 unique physical artworks from Southern Africa’s top artistic talent. Throughout history, major socioeconomic change has largely only taken place as new generations displace older generations that are more set in…

Auditing Firms Claim Crypto.com Lost $15 Million in Incident as Users Report Suspicious Activity