In recent months, there has been a buzz in the NFT world about the emergence of Blur, a new NFT marketplace that is challenging the dominance of Opensea. According to an article on Ambcrypto, “Blur has overtaken Opensea in six months, with daily trading volumes reaching up to $50 million, compared to Opensea’s $35 million”.
The success of Blur can be attributed to several factors. One key factor is its unique approach to user experience, a…
Mastercard has announced a new partnership with Immersve to enable payments using USDC, a stablecoin pegged to the US dollar, on its network. The goal of this alliance is to make cross-border payments faster and more efficient while also making them more stable.
With this partnership, Mastercard hopes to use blockchain technology to give its customers more secure and faster ways to pay. The use of USDC also gives these transactions a stabl…
The Securities and Futures Commission (SFC) of Hong Kong has announced new rules for platforms that let people trade cryptocurrencies. The SFC is soliciting feedback on whether licensed platforms should be allowed to serve retail investors and what consumer protection measures should be put in place. The plan is a response to the fact that trading in cryptocurrencies is becoming more and more popular and that the industry needs more oversight…
According to Forbes, Tether moved $37 billion of its reserves to an offshore bank called Capital Union in 2021 after settling with the New York Attorney General’s office over claims it had misrepresented its finances. Tether has also asked Ansbacher, another Bahamian bank, to hold some of its reserves. The company has also been using Cantor Fitzgerald, a big New York financial services company, to hold U.S. Treasury bills. But Tether has neve…
Kraken, the international exchange based in the United States, has reached an agreement with the SEC to shut down its staking service for users residing in the country and pay a fine of USD $30 million. This measure comes amid a series of actions that the Securities and Exchange Commission (SEC) is contemplating to regulate staking programs.
Payment of USD $30 Million Fine
Kraken has agreed to pay a $30 million fine to the SEC, as …
A court-ordered investigation is looking into Celsius Network, a cryptocurrency lender that promised its customers a big 17% return on their deposits every year.
The company’s failure was reportedly inherent in its business model, and its founder and CEO, Alex Mashinsky, has come under fire for fraud.
“Extreme Market Conditions”
In June 2022, Celsius halted withdrawals and transfers, blaming “extreme market conditions.” The price of …
Sadly, one more company joins the list of crypto companies that have fallen into bankruptcy.
Genesis Global Capital, LLC, a cryptocurrency lender owned by Digital Currency Group (DCG), filed for bankruptcy late Thursday night in New York. Genesis voluntarily filed three petitions with the bankruptcy court, the company said in a press release. The crypto lender has been having money problems. It owes more than $3 billion to its major …
Bankman-Fried has been apprehended in the Bahamas. According to CNBC, Bankman-arrest Fried’s warrant was issued after US officials filed charges against him. This was confirmed by Ryan Pinder, who is the Attorney General of the Bahamas. He said that the U.S. was likely going to ask for his extradition soon.
In a statement about this, Philip Davis, the prime minister of the Bahamas, said:
The Bahamas and the United States have an interes…
Grayscale Investments, a company that specializes in managing digital currency assets, recently announced its plan to turn its flagship Grayscale Bitcoin Trust (GBTC) fund into an exchange-traded fund, or ETF. Even though the crypto winter is still going on, shareholders are worried, and there are problems with regulations, Grayscale is moving forward with its plans.
Since the beginning of this year, GBTC’s share price has been on a slow b…
