Tag Archives: AA News

The most-anticipated event in the cryptocurrency industry this year took place earlier today, confirming Ethereum’s transition from PoW to PoS. While the effects for the second-largest blockchain will be unveiled gradually in time, Ethereum Classic seems to be benefiting the most for now. CryptoPotato reported earlier today when the Ethereum mainnet finally merged with the PoS Beacon Chain, solidifying the network’s transition to proof-of-stake. Although this was a...

According to Antoni Trenchev – Co-Founder of the cryptocurrency lending platform Nexo – Ethereum’s Merge is “the most significant thing” that has happened in the protocol’s history. However, he does not believe it will help Ether surpass Bitcoin as the most dominant digital asset. The executive also expects ETH’s price to surge when people realize the benefits of the transition to Proof-of-Stake (PoS), but not immediately after it occurs. Bitcoin Will Stay at the Top...

The Central Bank of Bahrain (CBB) is set to test a Bitcoin payment processing and payout solution in collaboration with OpenNode. According to the official press release, the BTC payment processor plans to provide the infrastructure for the solution. The Regulatory Sandbox was first launched in 2017, following which the CBB authorized OpenNode to participate in its framework that enables financial tech companies to test their ideas and solutions in the country. OpenNode’s CEO...

Leading secure financial messaging system SWIFT is testing out blockchain in a pilot project with fintech company Symbiont Inc. Previously, SWIFT explored ways how to enter the central bank digital currency space. SWIFT’s Blockchain Experiment The collaboration aims at driving efficiencies in the transmission of data related to corporate events like dividend payments and mergers, a Bloomberg report said, adding that Citigroup, Vanguard, and Northern Trust will also...

A group of leading venture capital firms and broker-dealers announced the creation of the cryptocurrency platform – EDX Markets (EDXM). The launch received support from giant finance players, including Citadel Securities, Fidelity Digital Assets, Charles Schwab, Sequoia Capital, Paradigm, and Virtu Financial. The Plan Came to Existence At the beginning of the summer, market makers Citadel Securities and Virtu Financial teamed up with retail brokerage firms Fidelity Investment...

Bitcoin is once again back below $20,000 after briefly surging above the price level last week.  The primary cryptocurrency traded at roughly $20,200 at 17:30 UST on Wednesday, before quickly declining to about $19,600 an hour later. It trades for $19,957 at the time of writing, unable to break back above $20k. According to CoinGlass, about $51 million have been wiped from the crypto markets in liquidations over the past 4 hours, adding to $185 million over the past 24...

MicroStrategy’s Executive Chairman Michael Saylor has published a letter clearing his thoughts on Bitcoin mining and its impact on the environment and energy systems. He argued that Bitcoin mining is, in reality, far less of an environmental issue than it is often made out to be. Rather, he believes it wouldn’t be on the public radar if not for the extensive lobbying efforts of competing interests within the crypto industry.  Michael Saylor Defends Mining Upon publishing the...

A Bloomberg report on Wednesday claimed that Binance app downloads in India jumped to 429,000 in August, the highest this year. This comes just months after the country implemented stringent taxation on local exchanges. Binance’s India Gains Binance is the only one among the major exchanges whose app downloads had seen an increase in August over July, the month when 1% transaction tax in the form of TDS kicked in, a Bloomberg report said, quoting data from Sensor Tower, which...

Google Cloud and BNB Chain are joining forces to accelerate the growth of web 3 startups.  BNB chain developers can now leverage Google Cloud infrastructure to help scale their applications and access other forms of technical support.  According to a press release from Binance, BNB Chain will now enable “accelerated access” to the Google for Startups Cloud Program. BNB Chain is a combination of the BNB Beacon Chain and BNB Smart Chain, and currently hosts over 1300 dapps. ...

Paulo Ardoino – Chief Technology Officer (CTO) at Bitfinex and Tether – recently commented on Ether’s usefulness as money, post-merge.  The CTO believes the cryptocurrency cannot compete with Bitcoin as a form of money, due to design choices that have prioritized other objectives. Bitcoin is Money; Ether is Not As the CTO told Crowfund Insider on Tuesday, Ethereum is “stuck between claims of being a form of money and claims of being a platform.” As formulated in its...