Tag Archives: AA News

Chasing a bounty of over $2000, a coder has successfully imported the Ordinals NFT protocol to Litecoin.  The new functionality arrives shortly after Bitcoin – the network on which Ordinals initially launched – surpassed 150,000 inscriptions this week.  Why Litecoin Gets Ordinals On Sunday, a coder named Anthony Guerrera launched Litecoin Ordinals on GitHub by forking the Bitcoin repository for the project, published by Casey Rodarmor last month.  The Bitcoin-based version...

Major blockchain infrastructure platform Paxos Trust Company is holding discussions with the US Securities and Exchange Commission (SEC) concerning Binance stablecoin BUSD, according to a report by Reuters. The company earlier received a notice from New York authorities to cease minting BUSD. According to Reuters on Tuesday (Feb. 21, 2022), Charles Cascarilla, CEO of Paxos, sent an email to the firm’s employees on Feb. 18, informing them that the company is holding...

Polygon Labs announced that it will reduce its team by 20% while stating that the company maintains a robust treasury. Meanwhile, the job cut comes shortly after the firm outlined plans at the end of 2022 to hire more employees. According to a press release on Tuesday (Feb. 21, 2023), Polygon Labs said the 20% slash affected 100 job positions. Part of the announcement read: “Earlier this year, we consolidated multiple business units under Polygon Labs. As part of this...

Tim Berners-Lee – the inventor of the World Wide Web (WWW) – believes cryptocurrencies are “dangerous” and investing in them is similar to gambling.  However, he argued they could be useful for conducting transactions if converted into fiat when received. Not a Crypto Fan In a recent appearance on CNBC, the British computer scientist best known for creating the World Wide Web – Tim Berners-Lee – warned investors to stay away from cryptocurrencies as they are “speculative” and...

The Financial Stability Board (FSB) has revealed that many stablecoins will not meet the standards stipulated in its recommendations for crypto asset regulations that will be released later this year. The regulator noted that the recommendations would be aimed at maintaining effective “stabilization” mechanisms and strengthening redemption rights. The FSB is a global organization that oversees and provides guidance on the stability and resilience of the international...

Nishad Singh, the former head of engineering at bankrupt crypto exchange FTX, is close to striking a plea deal with federal prosecutors in the ongoing case against the exchange and its execs. According to a Bloomberg report, which cited people familiar with the matter, Singh plans to plead guilty to criminal charges over his role in the FTX saga. Singh to Strike Plea Deal With US Prosecutors The report noted that Singh has been negotiating a deal with Manhattan prosecutors as...

According to the latest edition of CoinShares’ weekly report, outflows in digital asset investment products reached $32 million last week, a level not seen since late December 2022. The sentiment could be attributed to exchange-traded product (ETP) investors being less optimistic about recent regulatory pressures in the US relative to the wider market. Bitcoin Bears the Brunt Outflow figures surged to $62 million the mid-way through last week, even as the sentiment improved...

South Korea’s “Kimchi Premium” – a metric showing crypto’s price difference in global exchanges and such located in the Asian nation – went into a discount territory for the first time since January 18. This indicates that buying digital assets, such as bitcoin, is cheaper on Korean platforms than on Binance or other leading players, usually meaning that local users’ interest has declined. Flipping to Discount The “Kimchi Premium” – a phenomenon bearing the name of a...

The native token of the crypto exchange Huobi Global – HT – spiked around 16% after Justin Sun outlined the company’s intentions to obtain a trading license in Hong Kong.  If secured, the authorization will allow the platform to offer a wide range of digital asset services and products to domestic consumers.  Justin Sun – Tron’s Founder and a member of Huobi’s Global Advisory Board – revealed that the crypto exchange has applied for a trading license with Hong Kong’s...

The Japanese arm of bankrupt crypto exchange FTX announced that it would resume the withdrawal function for customers. This comes less than a month to when the order for the platform to suspend its business takes effect. According to a press release on Monday (Feb. 20, 2023), FTX Japan stated that customers will be able to withdraw their assets from Feb. 21, 2023. The platform said fiat and crypto asset withdrawals will be processed through the Japanese crypto exchange...