Crypto news

A joint study conducted by Ripple and the Faster Payments Council (FPC) estimated that more than half of the surveyed leaders of payment firms think most merchants will accept cryptocurrencies as a settlement method within one to three years.  Almost every participant suggests that blockchain technology will enable faster financial transactions in the near future. Crypto Could Transform Cross-Border Payments More than half of the 300 respondents think global merchants will...

The G20 Finance Ministers and Central Bank Governors (FMCBG) Meeting on February 24-25 in Bengaluru, India, concluded with a strong commitment to regulations for the cryptocurrency sector.  The International Monetary Fund (IMF), Bank for International Settlements (BIS), and Financial Stability Board (FSB) have been tasked to come up with recommendations and a roadmap for regulating the cryptocurrency sector.   G20 Meeting of Financial Chiefs   “We look forward to the IMF-FSB...

Through a series of letters to federal agencies, those in charge in the United States have stated that they believe they have the authority to force crypto mining firms to produce information about how much energy they use and how many greenhouse emissions they create. Are Mining Companies in Trouble? The United States has become something of a “safe haven” for crypto mining companies in recent years after regions like China have imposed bans on mining activities. There...

Silvergate Capital Corporation was once among the most preferred banking institutions for cryptocurrency business, but the entity has faced numerous issues in the past few weeks. The latest saw the bank closing its crypto payment service called the Silvergate Exchange Network. “Effective immediately Silvergate Bank has made a risk-based decision to discontinue the Silvergate Exchange Network (SEN). All other deposit-related services remain operational,” reads the firm’s...

A new report unveiled by the United Nations in early February shows that North Korea stole more crypto in 2022 than it has in any other year. North Korea Has Stolen a Lotta Crypto North Korea has long sought to get its hands on illicit crypto and launder it so it can be used to fund its ever-growing nuclear program. The nation houses several hacking organizations such as Lazarus and has initiated attacks against regions in Asia, Europe, and even North America. The report...

Chat GPT is a new AI-based chatbot that’s becoming the next big thing. People are using it for many things including writing content and editing material they’ve already completed. Chat GPT Is Getting Bigger and Bigger In a recent headline, it was announced that Chat GPT was utilized to compose Biden’s latest State of the Union speech. Apparently, the man’s brain is melting so much he’s incapable of picking up a pen and putting his thoughts on paper or typing them up on...

Since being embroiled in a regulatory tussle, BUSD’s market cap went on a steep downward spiral. Since hitting an all-time high of $23.04 billion in November 2022, the market cap of the once-major stablecoin declined by more than 60% to $9.17 billion at the time of writing. The Paxos situation is indicative of the larger picture of crypto exchanges under assault from the United States Securities and Exchange Commission (SEC). Uncertainty is looming over the stablecoin...

Bitcoin tried to recover some of its recently lost value in the past 24 hours but was stopped in its tracks and is back down to $22,300. The altcoins are quite stagnant on a daily scale, with EOS losing all of its yesterday’s gains. Bitcoin Maintains $22K The low trading volumes of last weekend helped bitcoin remain around $23,000 for most of it. The start of the working week saw the asset pushing toward $24,000. In fact, BTC managed to tap that level once on Wednesday, but...

The emergent NFT marketplace Blur may have raised an open battle against the once-market leader, but the latter appears to be making a comeback, albeit slowly. According to Dune Analytics data compiled by sealaunch.xyz, the percentage of unique users on OpenSea saw an uptick since taking a plunge in mid-February. Simultaneously, it was found that there has been a significant decrease in the average sale size per user on Blur after the airdrop. Since the event, the trading...

Coinbase acquired One River Digital Asset Management (an investment manager that provides institutional clients with exposure to cryptocurrencies) without disclosing the terms and the sum of the agreement. The deal comes a few weeks after the two entities rolled out a separately managed account (SMA) platform for wealth management firms. Greg Tusar – Coinbase’s head of institutional product – said the recent acquisition aims to “bring more institutional capital” into the...