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Tag Archives: Cryptocurrency News

Crypto Exchange Hotbit Suspends Operations after Five Years of Service

After five years of service, Hotbit joins Paxful and Bit4You to exit the crypto market. Hotbit, a centralized cryptocurrency exchange (CEX), has suspended its business operations. The company announced the decision on May 22, 2023, citing several factors including the change in crypto market trends, the depegging of stablecoins from their $1 benchmarks, and the deterioration of operating conditions. Hotbit was founded in 2018 and quickly became one of the most popular exchanges in the...

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Gemini Says Genesis Parent DCG Defaulted on $630M Payment, Updates Contingency Plan

Gemini seeks to exact its owed payment sum from Genesis parent DCG and is working with several creditors on a forbearance plan. Gemini Trust Company LLC recently said that Genesis parent DCG missed a $630 million loan payment last week. This development is the latest occurrence in the ongoing dispute between the Cameron Winklevoss-run crypto custodian and digital currency VC firm. In January, Gemini CEO Winklevoss threatened to sue his DCG counterpart Barry Silbert, and the entire company,...

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Opera Browser Finalizes Integration of MultiversX on Mobile and Desktop Platforms

The integration helps Opera users navigate the Web3 industry through MultiversX with the help of EGLD coins. The Opera browser, one of the leading internet browsers with more than 300 million users across its mobile and desktop platforms, has announced a successful integration with MultiversX (EGLD), a metaverse-centric blockchain formerly known as Elrond. Following the integration, Opera users can download the configuration via a dedicated link to enable the access of features like...

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HashKey Group to Raise Funds at $1B Valuation

HashKey Capital emphasized that it plans to direct the investment into Web3 initiatives in order to broaden its crypto exposure. Crypto investment company HashKey Group is looking towards leveraging Hong Kong’s digital assets efforts to raise funds at a valuation of over $1 billion to attract potential investors. The Chinese Special Administrative Region is finalizing digital asset licensing legislation with the goal of becoming a worldwide crypto hub. Hong Kong has been making efforts to...

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MicroStrategy Executive Chairman Michael Saylor Says Firm Exploring Use Cases for Bitcoin Ordinals

MicroStrategy’s Michael Saylor recently suggested that Bitcoin Ordinals could immensely benefit the crypto ecosystem.  MicroStrategy Incorporated (NASDAQ: MSTR) co-founder and Executive Chairman Michael Saylor has discussed his company’s work with Bitcoin Ordinals. In a media session, Saylor revealed that his company was exploring how the Bitcoin-backed non-fungible tokens (NFTs) could lead to software innovation. According to the innovative crypto executive, MicroStrategy was interested...

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Filecoin Foundation Lashes Out at SEC for Classifying FIL as Security

Grayscale also noted that it doesn’t believe that Filecoin is security and seeks to respond to the SEC staff with a legal basis for their position. Earlier this week, the US Securities and Exchange Commission (SEC) classified the cryptocurrency Filecoin as a security and even asked asset manager Grayscale to pull up their application for the Grayscale Filecoin Trust. However, Filecoin has rejected the observation from the SEC adding that FIL was not a security. The Filecoin Foundation...

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Binance Integrates Its Spot Trading Platform with TradingView

The integration of TradingView will give Binance users access to a wide range of tools while exposing Binance products to traditional investors. The Binance Spot market trading platform has been integrated with TradingView, a leading charting platform that offers traders a greater insight into the markets. The news broke via a press release seen on Thursday, May 18. Providing Greater Insight into the Market via Tools and Data With the integration, users of Binance will have access to a...

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Ripple Labs Debuts CBDC Platform for Central Banks

The CBDC Private Ledger, according to Ripple, will handle tens of thousands of transactions per second. Popular blockchain payments firm Ripple Labs Inc is set to launch its own Central Bank Digital Currency (CBDC) platform, which will allow central banks, governments, and financial institutions to issue digital currencies. The news comes shortly after Ripple and the Central Bank of Montenegro agreed to collaborate on the development of a pilot project for a national digital currency....

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Filecoin Labeled as Security, SEC Asks Grayscale to Withdraw Filecoin Trust

The SEC crackdown on crypto firms has intensified significantly since the bear market of last year incited by several collapses and bankruptcy filings of crypto exchanges. The United States Securities and Exchange Commission (SEC) has tagged Filecoin (FIL) as an unregistered security. As a result, the regulator expects Grayscale Investments its application for Filecoin Trust. According to an update given by Grayscale about the status of the Trust’s registration in a statement on Form 10, a...

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Revolut Launches Business Offering in Australia, Seeking Banking License

Revolut believes that license would help to ensure higher consumer confidence. Crypto-friendly fintech company Revolut has introduced an international payment-targeted business account for customers in Australia, as it is allegedly operating to safeguard a banking license. The London-based company provides a wide range of fiat payment services for customers in Europe and Australia. It also rolls out crypto services like purchasing and selling a specific number of crypto assets that also...

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