Babel Finance, one of cryptocurrency lending firms shaken by the bear market of 2022, is exploring new restructuring opportunities involving minting a new token. Babel co-founder Yang Zhou is planning to build a new decentralized finance (DeFi) project in order to generate revenue to repay debts owed to creditors, Bloomberg reported on March 5. Called
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Bitcoin consolidated for a third straight session, as markets prepared for a big week of U.S. economic data. Later this week, nonfarm payrolls will be posted, with Federal Reserve chair Jerome Powell also speaking in the coming days. Ethereum also fell marginally lower to start the week. Bitcoin Bitcoin (BTC) started the week in consolidation,
The Nigerian fintech Flutterwave has rejected reports suggesting that hackers have stolen as much as $6.3 million from user accounts. The fintech firm said a routine check of its transaction monitoring system helped to uncover “an unusual trend of transactions on some users’ profiles.” Motion to Freeze The Nigerian fintech unicorn, Flutterwave, has said reports
press release PRESS RELEASE. Dubai, United Arab Emirates, March, 2023 – MaskEX, a rapidly expanding third-generation crypto exchange, headquartered in Dubai, has announced the launch of its crypto-backed Virtual Card, enabling users to spend their crypto as fiat in more than 176 countries with over 50 million merchants worldwide. This new feature is now available
Binance has turned to a new set of stablecoins in the wake of the United States Securities and Exchange Commission’s (SEC) regulatory action against its native stablecoin, Binance USD (BUSD). The SEC had sent a Wells notice, alleging BUSD violates U.S. securities law. Following the SEC’s notice, the New York Department of Financial Services (NYDFS)
Bybit is set to launch a new debit card offering that will allow users to make payments and withdraw cash using cryptocurrency holdings. The Bybit Card will operate on the Mastercard network and will allow for fiat-based transactions by debiting cryptocurrency balances when used to pay for goods and services. The service begins with the
Local authorities in Singapore announced they had begun a probe that is connected to Do Kwon’s Terraform Labs. According to a Bloomberg report, Singaporean police sent an email on March 6, which said, “investigations have commenced in relation to Terraform Labs.” The email also added that the inquiries are “ongoing,” and Do Kwon is not
Meta, the social network company, is getting some pushback on its plan to market and bring Horizon Worlds, its flagship metaverse app, to teens. Democratic senators Ed Markey and Richard Blumenthal directed a letter to the company to halt these actions, citing concerns about the interactions that teens could have in Meta’s virtual worlds. Meta
Iran is moving forward with its central bank digital currency (CBDC) plans, completing preliminary research for the launch of a potential digital rial. The Central Bank of Iran (CBI) has completed a pre-pilot phase in the development of Iran’s CBDC, according to an official statement by CBI’s research arm, the Monetary and Banking Research Institute
Bitcoin (BTC) starts a new week with consolidation in the air amid some of the least volatile conditions ever. Despite losing 5% in an hour last week, Bitcoin’s subsequent lack of volatility is on every trader’s mind. The question is whether that will change in the coming days. There are plenty of potential catalysts, from
Growing shortages of foreign exchange on the interbank market have reportedly forced the Central Bank of Kenya to ask financial institutions to ration dollar purchases by Kenyan businesses. The shortages have forced Kenyan firms to seek greenbacks on alternative markets where the exchange rate is higher than the official government rate. New Limits Curtailing Operations
press release PRESS RELEASE. In traditional financial markets, the term trading strategy describes a comprehensive plan covering all trading activities, guiding investors to execute their target trades. In the world of crypto, a trading strategy refers to a predetermined plan or trading behavior designed to help investors profit from buying or selling cryptos in both
While the court case between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) continues to await a ruling from the U.S. Southern District Court of New York, rumors have arisen in the XRP community that the judge in charge, Analisa Torres, is part of the “deep state.” Due to this, supporters of the
Israel’s tax authority is after two creators of non-fungible tokens (NFTs) suspected of failing to report almost $2.2 million in revenue. The news of the investigation comes after the recent arrest of a graphic designer from Tel Aviv accused of similar offenses. Thousands of ‘Western Wall NFTs’ Allegedly Sold Without Tax Reporting Israel Tax Authority
Nonfungible token (NFT) conglomerate Yuga Labs is facing some criticism from the cryptocurrency community, including the creator of Bitcoin Ordinals, over how it plans to auction its new Bitcoin NFT collection. On Mar. 5, Yuga opened bids for its “TwelveFold” collection which will see 300 NFT-like images inscribed on Satoshis using the Bitcoin-native Ordinals protocol,
Numbers from the Brazilian tax authority indicate that the cryptocurrency market experienced a resurgence in January, with trading increasing more than 10% compared to December. Tether’s usdt is still the currency that moves the most volume, a reality related to OTC (over-the-counter) trades, according to market analysts. Crypto Market Moves Again in January, According to
Digital asset investment firms poured $2.7 billion into decentralized finance (DeFi) projects in 2022, up 190% from 2021 as investments into centralized finance (CeFi) projects went the other way — falling 73% to $4.3 billion over the same timeframe. The staggering rise in DeFi funding was despite overall crypto funding figures falling from $31.92 billion
A Bitcoin (BTC) technology firm and its executives have been indicted for allegedly operating unlicensed crypto kiosks in Ohio which knowingly benefited from victims of cryptocurrency scams. S&P Solutions, which operated as Bitcoin of America, along with three of its executives are facing charges of money laundering, conspiracy, and other crimes connected to the operation
Banks in Pakistan plan to launch an electronic platform for know-your-customer procedures that will be operating on a national level. The blockchain-based system will allow them to exchange the personal information of customers through what they describe as a decentralized and self-regulated network. Banks of Pakistan Looking to Employ Blockchain for KYC Checks Pakistan Banks’
Crypto legislation in Australia could be dragged out past 2024 and beyond, with the government seemingly wanting to take its time in order to get a full picture of the industry — internal documents from the government have revealed. The documents, obtained by The Australian Financial Review under Freedom of Information laws, reportedly reveal that the
