Tag Archives: AA News

DriveWealth – a SoftBank-backed start-up that assists fintech firms in offering stocks – will reportedly provide cryptocurrency trading services to clients. To do so, the company will acquire Crypto-Systems – a separate digital asset organization based in the United States. DriveWealth to Compete with Coinbase CNBC reported that shortly after the acquisition, the start-up will launch two subsidiaries to offer Bitcoin and Ethereum trading opportunities to partners in April or...

Currently, DAI is the fifth-largest stablecoin by market capitalization. Tether (USDT) may have continued to be the market leader after all these years, but DAI has the perk of being open-source and decentralized – something that’s sought after in the DeF community. DAI Ascends According to Makerburn, the total supply of MakerDAO’s DAI, a decentralized stablecoin, has shot up to a whopping $10 billion on February 8th. Moreover, its supply from stablecoin collateral stands at...

Investment in the crypto space soared in 2021. Globally, crypto projects attracted over $30 billion, compared to $5.4 billion in 2020. In its Pulse in Fintech report, KPMG points to an “incredible increase in recognition of crypto’s potential in fintech. According to the multinational ‘Big Four’ accounting firm, 2021 saw a surging interest in crypto and blockchain in the fintech world. Established institutional players explored what roles crypto can play in financial...

The FBI has arrested a husband and wife in Manhattan for allegedly conspiring to launder swaths of Bitcoin connected to the 2016 Bitfinex exchange hack. According to Reuters, over $3.6 billion worth of the asset has already been recovered by law enforcement. The couple allegedly responsible is Ilya Lichtenstein (34) and Heather Morgan (31). They are accused of conspiring to launder 119,754 Bitcoin after an attacker stole them through over 20,000 unauthorized transactions at...

Traders are once again hoping for a bullish run as a fresh slash of green spread across the entire crypto market. Interestingly, the 50-DMA indicator shows that the cryptocurrency might be in a good shape for further gains. Bitcoin surged to $45,500 today for the first time since January 5th as the cryptocurrency market managed to reclaim the $2 trillion mark. Although BTC failed to sustain the $45,000 levels and is currently trading slightly below the $44,000 region, the...

Open source and decentralized protocol ssv.network has received $10 million in funding from its DAO partners to ramp up the decentralized staking infrastructure for Ethereum 2.0 ahead of the upcoming Merge. ssv.network Receives $10M ssv.network said  in a press release that it received the funds through its DAO Partner Program, an initiative the project launched in October 2021 with an objective of expanding its “community and strengthening DAO partnerships.” So far, the...

The developers behind the popular play-to-earn blockchain game Axie Infinity will reportedly implement changes to its reward system to rebalance the project’s ecosystem. Specifically, they will reduce the supply of Smooth Love Potion (SLP) tokens by 56%, making them more scarce. The Latest Updates The play-to-earn business model emerged as a trending niche towards the end of 2021. Its concept consists of two elements that have captured society’s attention for centuries –...

Sam Bankman-Fried’s cryptocurrency exchange, FTX, announced that it will give away free Bitcoin to its fans as part of an advertising campaign during Super Bowl LVI on February 13. The campaign is part of an effort by FTX to gain a more significant brand presence in the more mainstream audience of sports fans – especially considering that the Super Bowl is the most watched sports event in the United States. The Right Time Sam Bankman-Fried is an expert in aggressive and...

The financial services company – Mitsubishi UFJ Trust – hopes to enhance its transaction system by utilizing blockchain technology for trading and a cryptocurrency for payments. As such, it will create a stablecoin tied to the value of the Japanese yen, claimed a new report. Mitsubishi’s Stablecoin According to a recent report by Nikkei Asia, Mitsubishi UFJ Trust – a Tokyo-headquartered bank with over $1.5 trillion in assets under management – is seeking to enter the world of...

Venture capital firm Sequoia Capital led a financing round for the Ethereum layer 2 scaling solution Polygon, becoming the latest Silicon Valley company to invest in the Web3 space. According to CNBC on Monday (February 7, 2022), Polygon recently raised $450 million, with Sequoia Capital leading the investment. Other companies involved in the fundraising round include Softbank, Alameda Research, Tiger Global, and Galaxy Digital. Prominent individuals such as Reddit co-founder...