Crypto news

Singapore authorities are doubling down on efforts to unveil a set of guidelines for banks on vetting crypto clients. As such, the banks in the city-state have been working with the authorities for the last six months to establish uniform standards for screening potential customers from the crypto industry. According to a Bloomberg report, the Monetary Authority of Singapore (MAS) has also joined the collaborative approach led by banks and police involving fine-tuning the...

Poor cybersecurity practices within the decentralized finance (DeFi) industry present a threat to crypto, consumers, and national security, according to a new report from the United States Treasury Department.  The first-of-its-kind document argues that DeFi’s peer-to-peer nature presents new illicit finance risks that require extra legal supervision to address.  The Risks of DeFi Released on Thursday, the 2023 DeFi Illicit Finance Risk Assessment details how cybercriminals,...

A copy of the original Bitcoin white paper written by Satoshi Nakamoto has been found in every modern version of Apple’s Mac computers. Several Apple users have disclosed that they stumbled on the file while using their devices for unrelated operations. They found the file in different Mac versions, from Mojave (10.14.0), launched in 2018, to the current version and the recently released Ventura (13.3). Bitcoin White Paper Hidden in MacOS Since 2018 In a recent blog post,...

After the much pompous launch of the long-awaited Arbitrum token –  ARB –  rumors and sell-offs dominated the ecosystem due to a conflict between token holders and the Arbitrum Foundation. The popular blockchain tracking platform, Lookonchain, has identified four whales “continually” buying ARB tokens, despite the ongoing drama. Mechanism Capital’s Andrew Kang is one of the four whales, according to the analysts, who bought an additional 1.51 million ARB at $1.23 with nearly...

Japan recently approved a Web3 white paper that could place the East Asian nation at the forefront of global crypto growth.  Japan has approved a Web3 white paper to boost the country’s fledgling crypto industry growth. On Thursday, the East Asian nation’s ruling Liberal Democratic Party’s Web3 project team published the crypto-guiding document. The white paper proposes several recommendations for growing and enhancing Japan’s digital currency space. These include instituting more tax...

Sources familiar with the matter said that the architects of the retail CBDC are working to incorporate offline transactions and eyeing half a million users by July. India is one of those top global economies that has been pilot-testing its central bank digital currency (CBDC) aka the Digital Rupee. As per the latest reports, the architects of India’s retail central bank digital currency (CBDC-R) are aiming to scale the user base of the Digital Rupee to a million users. Sources familiar...

BlackRock – the world’s largest asset manager – is collaborating with the U.S. government to sell off eleven figures worth of securities tied up with American banks that failed last month.  The sale $114 billion sale will include $27 billion worth of securities from Signature Bank, and $87 billion from Silicon Valley Bank (SVB).  Securities Dump Incoming? The Federal Deposit Insurance Corporation (FDIC) announced the sale on Wednesday, over three weeks after placing both...

Block – the company formerly known as Square and run by Jack Dorsey of (past) Twitter fame – is looking into building what it’s calling a “mining development kit (MDK). Block Wants to Boost Bitcoin Mining Opportunities The goal is to establish a do-it-yourself bitcoin and crypto mining kit that retailers and individuals can use to extract their own units from the blockchain. Dorsey and his crypto-fanatical cronies are hoping this will help to educate more people about...

The trouble surrounding Silvergate Bank appears to be getting worse, and the company has attracted a lot of negative attention in recent weeks after it stated it has concerns about how well it can do in the future. Silvergate Is in Hot Water Silvergate is a crypto lender that lost billions of dollars in 2022 due to the ongoing volatility and market speculation. That year was easily the worst on record for crypto given how poorly assets did. Bitcoin, for example, lost...

The determination to float products that will be able to provide an interactive search interface for users has been cited by the Alphabet CEO as a major opportunity to be tapped into. Sundar Pichai Sundar Pichai, the Chief Executive Officer (CEO) of American multinational tech giant, Alphabet Inc (NASDAQ: GOOGL) has hinted that the company is working on a conversational chat Artificial Intelligence (AI) solution that can be integrated into its Google search engine tool. While Pichai...