Eliza Gkritsi

Intel, one of the world’s largest chipmakers, is likely to unveil a specialized crypto-mining chip at the International Solid-State Circuits Conference (ISSCC) in February, according to the conference’s agenda. One of Intel’s “Highlighted Chip Releases” at the conference is entitled “Bonanza Mine: An Ultra-Low-Voltage Energy-Efficient Bitcoin Mining ASIC.” The session is scheduled for Feb. 23. This brings the company into direct competition with the likes of Bitmain and MicroBT in the market for bitcoin mining ASICs, or application-specific integrated circuits, for the first time. Crypto mining has in the past driven up demand and prices for graphics processing units, including Intel’s, […]

Mixers were the most used tool among North Korean hackers for the first time, accounting for over 65% of stolen funds, up from 42% in 2020 and 21% the year before, Chainalysis said. In 2017 and 2019, crypto exchanges were the most popular way of laundering money. Source link

The amount of money lost in hacks of decentralized financed (DeFi) projects more than doubled to $1.3 billion in 2021, with centralization the most common vulnerability, Certik said in its inaugural “State of DeFi Security” research report. While the value lost climbed 160%, the amount was a smaller proportion of the total than in 2020 due to growth of the DeFi market, the security firm said in the report released on Wednesday. The lost funds represented 17% of the total market cap, according to the report. The total value locked (TVL) in DeFi protocols at end-2021 was $243.88 billion, up from […]

The Bank of Thailand will delay its test of a central bank digital currency (CBDC) from the second quarter to late next year, Reuters reported Friday. The retail CBDC will be tested as an alternative payment method for “cash-like activities within a limited scale,” the bank’s Assistant Governor Vachira Arromdee said in August. Thailand will be slow and prudent in testing the digital currency “as it does have a problem with fund transfers or payments as some other countries,” Bank of Thailand Deputy Director Kasidit Tansanguan said, according to Reuters. The pilot will test deposits, withdrawals and transfers, and involve around […]

Crypto exchange Kraken is developing a marketplace for non-fungible tokens (NFTs) where users can arrange loans using the tokens as collateral, the exchange’s founder and CEO Jesse Powell said in a Bloomberg News interview published Friday. The marketplace will provide custody, and the exchange is figuring out how to determine the liquidation value of NFTs deposited so that users can use them as a collateral for loans, Powell said. Kraken follows major exchanges like Coinbase and FTX in developing an NFT market as the assets continue to soar in popularity. OpenSea, one of the most important marketplaces for NFTs, conducted just […]

Binance Labs, the crypto exchange’s venture capital and incubation arm, led a $60 million seed round in Multichain, formerly Anyswap. The cross-chain protocol counts over 300,000 users, according to , according to a press release shared with CoinDesk. Public data shows the protocol has roughly $4.8 billion in total value locked. Multichain will use the funds to expand its ecosystem and team, particularly research on crypto algorithms, security and user service. Binance Smart Chain (BSC) is also putting its weight behind the protocol. It will promote Multichain as a recommended bridge for developers in the long term, the press release said. […]

Lambda265, the blockchain arm of South Korean crypto exchange operator Dunamu, closed a $60 million (KRW 71 billion) Series B, bringing its valuation to $300 million, according to a Wednesday press release. The firm will use the funds to invest in its blockchain-as-a-service (BaaS) products, which are used by 3,300 corporate clients, according to the statement. Its flagship platform, Luniverse, helps companies build and manage blockchain systems. Shinhan Venture Capital, Daelim, KB Investments, and SBI Investments, which are new investors to the company, also use Lambda265′s BaaS products, the press release said. Its owner Dunamu, as well as Hanhwa Systems, Chong […]

Huobi Singapore operates under FEU International, which is a subsidiary of Huobi Tech, a Hong Kong-listed company that is independent from Huobi Group. Huobi Group owns the crypto exchange Huobi Global, and shares two co-founders with Huobi Tech; Leon Li and Du Jun. Source link

Crypto exchange BitMart has resumed ether withdrawals and deposits, three days after hackers stole approximately $200 million from hot wallets, the exchange’s CEO Sheldon Xia tweeted on Wednesday. Withdrawals and deposits for other tokens will follow shortly, Xia said. BitMart is replacing all deposit addresses for bitcoin, ether and solana, and is encouraging users to log out of their accounts and log back in to make sure they are using the right address, according to a Wednesday blog post. The hackers drained $100 million worth of various Ethereum-based cryptocurrencies and $96 million on Binance Smart Chain, security firm PeckShield revealed early […]

Chainalysis blockchain data monitoring platform is launching support for the Lightning Network, according to a press release shared with CoinDesk on Dec. 10. Users of Chainalysis’ Know Your Transaction platform (KYT) will be able to prescreen for Lightning withdrawals and behavioral alerts, so that they can compliantly allow BTC deposits and withdrawals from Lighting nodes, the statement said. The Lightning Network is a Layer 2 blockchain that enables faster bitcoin transactions, so that people can use the world’s largest cryptocurrency by market capitalization for small payments like tips and remittances. Read more: An In-Depth Look Into the Lightning Network as a […]

Despite the regulatory limitations, not all Kazakh miners have abandoned hope. Some think that if failing power plants come back online, KEGOC’s electricity rationing policy will improve. Others hope that if they develop their own renewable energy capacity, they will be able to start growing again. Source link

Crypto exchange Coinbase is planning to integrate Ledger hardware wallets, bringing users more options for self-custody of their crypto, according to a Ledger press release on Thursday. The integration will be rolled out in phases in Q1 of 2022. The partnership will start off with the Coinbase Wallet browser extension, which will connect to Ledger wallets. In the later part of the integration, the Coinbase mobile app will also connect to the hardware wallets. Coinbase will “share more announcements on how we’re making Coinbase Wallet the safest and most secure way to participate in Web 3 over the coming months,” the […]

But “even after that adjustment, mining is still so profitable that everyone and their grandma will want to plug in their machines as fast as possible,” Mellerud said. “It definitely looks like the hashrate will hit an all-time high before the new year, unless we get another brutal bitcoin sell-off shortly after the next difficulty adjustment.” Source link

The Australian government will launch the biggest payments reform in 25 years, the Treasurer said in an interview. Dec 8, 2021 at 5:40 a.m. UTC Updated Dec 8, 2021 at 6:49 a.m. UTC Australian Treasurer Josh Frydenberg speaking ot 7News Australia on Dec. 8, 2021. (Screenshot: CoinDesk) Source link

South Korean crypto investment firm Hashed is being investigated by Seoul tax authorities, CoinDesk Korea reported on Tuesday. The 4th Bureau of Investigation of Seoul’s Regional Tax office, which is handling Hashed’s case, is responsible for cases of tax evasion and fraud, according to the report. The reason for the audit hasn’t been disclosed. No company investigated by the 4th bureau has been reported for prosecution in the past year, CoinDesk Korea noted, concluding that it is unlikely that Hashed will be. The investment firm announced a $200 million fundraising for Web 3 projects just last week, adding to its $120 […]

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. @2021 CoinDesk English Source link

Hackers were able to drain $196 million of crypto by stealing a private key that opened two hot wallets, BitMart CEO Sheldon Xia tweeted on Monday. Hackers stole $100 million worth of various cryptocurrencies on the Ethereum blockchain and $96 million on Binance Smart Chain, crypto security firm Peckshield revealed on Dec. 5. BitMart has completed an initial security check and identified affected assets, and it plans to compensate users out of its own pocket, Xia said. The exchange will announce a timetable to gradually continue deposits and withdrawals, he said, adding that he is “confident” they will resume on Dec. […]

One user told CoinDesk that their machines have been completely offline for a little over one month, adding that he’d leave the platform if they gave him his money back. Another said disruptions started in mid-October, and that they are worried, but not angry at the service. Users who spoke to CoinDesk refused to be named because their contracts with BitFuFu include anti-defamation clauses. Source link

New York-based Defiance ETFs is launching an exchange-traded fund (ETF) focused on non-fungible tokens (NFTs), according to a press release sent to CoinDesk. The fund will track the performance of an index, dubbed the BITA NFT and Blockchain Select Index, composed of NFT, blockchain and crypto stocks, including NFT marketplaces and issuers such as Coinbase and Playboy. The index will be rebalanced on a quarterly basis, Defiance said. Crypto-pegged ETFs have grown significantly in the past year; the first U.S. bitcoin futures fund was listed on the New York Stock Exchange in October. Defiance is an ETF sponsor and investment adviser […]

Huobi Tech is introducing crypto lending for institutional investors in Hong Kong, according to a company press release shared with CoinDesk. The loans will range from $10,000 to $100 million in USDT and other currencies, and will carry an 8.8% fixed-term annual percentage rate, a company representative told CoinDesk via email. The Hong Kong-listed company is affiliated with crypto exchange Huobi Global through a common co-founder, Leon Li, but is a separate legal entity. The loans will be provided through Huobi Brokerage, Huobi Tech’s digital asset brokerage platform. Customers can use crypto as collateral, and the loan terms will range from […]

Twitter had been plagued by slow performance and difficulty in launching new features, in part because it ran all of its services and projects on its own servers. Agrawal compared Twitter’s tech to a “ball of hair” in a 2020 interview with The Information, a phrase he borrowed from Nick Tornow, a platform lead at the company. Source link

The Indian government does not plan to recognize bitcoin as a currency, finance minister Nirmala Sitharaman said on Monday. During a question and answer session in the parliament, Nirmala Sitharaman also said that the government does not collect data on bitcoin transactions, according to a report from local news site Mint. The Reserve Bank of India (RBI) is also working on the phased implementation of a central bank digital currency (CBDC), the ministry of finance said, according to a report from the Economic Times (ET) on Monday. The central bank was reportedly planning to pilot test a CBDC in 2022. The […]

CoinDCX, India’s first crypto unicorn, plans to go for a listing, once regulations permit it do so, co-founder Neeraj Khandelwal said in an interview with Bloomberg Television on Monday. India’s crypto industry is facing serious regulatory uncertainty, thanks to a proposed bill that plans to ban most forms of private cryptocurrencies. The proposed bill dampened expectations that the government’s legislative proposal would support a more friendly stance towards crypto, in light of growing adoption in the country. However, CoinDCX remains hopeful about its initial public offering (IPO) plans and thinks such a move would grant legitimacy to the industry. “As soon […]

ChainNews, one of China’s top crypto news sites, shuttered its operations today, co-founder Feng Liu told CoinDesk in a Twitter message. Earlier Friday the co-founder announced the closure in his personal WeChat moments, according to a screenshot obtained by CoinDesk. On Nov. 15, ChainNews said its website would be down for maintenance for a few hours, but that the team would continue posting news on its Telegram channel and Twitter account. The news site has gone silent in both platforms since Nov. 25. The closure follows China’s Sept. 24 statement that it would step up censorship of crypto news sites along […]

A large part of the pools’ operations are located in China, which has vowed to eliminate crypto mining. While their hashrate does not come only from China, and they have said they plan to exit the country by year-end, the publication of material in Mandarin could be interpreted as courting its population. Source link

El informe fue elaborado por el jefe de investigación de Grayscale, David Grider, y el analista de investigación Matt Maximo. Definieron al metaverso como “mundos virtuales interconectados, experienciales y en 3D, en los que personas situadas en cualquier lugar pueden socializar en tiempo real para formar una economía persistente, de propiedad de los usuarios, que abarca el mundo digital y el físico”. Source link

Animoca Brands and Hex Trust are partnering to provide institutional-grade wallets and financial services for online gamers, the two companies said in a press release on Thursday. Animoca Brands is a leading investor in decentralized gaming and non-fungible tokens (NFTs)—with a $2.2 billion valuation as of October. Hex Trust is a crypto custodian and financial services provider with licenses in Hong Kong and Singapore. Hex Trust will serve as custodian and provide financial services to gamers in Animoca Brands’ ecosystem, which includes The Sandbox, according to the press release. The services will also include banking services for NFTs and other crypto […]

Projects like Decentraland allow people to interact, govern and earn tokens, and get real world benefits for their time spent online, Grayscale said. People are spending more and more time online, and they concurrently spend money to build social status within digital realms, the company added. Source link

South Korea’s Financial Services Commission (FSC) wants the National Assembly to bring criminal liability to unfair behavior in crypto markets such as price manipulation and insider trading, according to a report submitted to the South Korean Parliament on Nov. 23. Source link

Celsius Network’s Series B was expanded to $750 million, up from $400 million at a $3.25 billion valuation announced October. The news was first reported by Blockworks late on Nov. 24. The crypto lender’s CEO Alex Mashinsky and official account both tweeted the story, while the Celsius team confirmed the story to CoinDesk in a message. Celsius closed a $400 million Series B in October led by growth equity firm WestCap, and Caisse de dépôt et placement du Québec (CDPQ), bringing its valuation to $3 billion. The company at the time stressed that the round would boost their credibility with regulators. […]

Members of the Digital Currency Forum, include banks like MUFG Bank, Sumitomo Mitsui Banking Corp., Mizuho Bank, Japan Post Bank, industry heavyweights like the Nippon Telegraph & Telephone Corporation, East Japan Railway, and Mitsubishi Corp., as well as local governments. The Bank of Japan, Financial Services Agency of Japan, and three ministries, are observing its activities. Source link

Crypto mining company Xive shut down a 2,500 rig mine in South Kazakhstan due to lack of sufficient electricity supply from the national grid, co-founder Didar Bekbau told CoinDesk on Wednesday. Kazakhstan has been grappling with electricity shortages, partly caused by an influx of crypto miners from China. The southern part of the country is particularly vulnerable as the region lacks abundant electricity generating plants and the national grid cannot reliably transfer electricity from the energy-rich northern region. Crypto miners, like Xive and Enegix, have been facing electricity issues since September due to rationing from KEGOC, the national grid operator. KEGOC […]

Play-to-earn (P2E) company Avocado Guild raised $18 million in a Series A led by Animoca Brands, bringing its valuation to $200 million, according to a press release shared with CoinDesk. Gaming guilds like Avocado cluster P2E gamers who are able to earn crypto income from titles such as Axie Infinity. Guilds often have revenue-sharing agreements and give players initial loans to bring them into the game. In an interview with CoinDesk, Avocado co-founder and CEO Brendan Wong described the guild as a “metaverse of metaverses,” because it enables players to participate in multiple virtual worlds. “Avocadians,” as users call themselves, not […]

The cryptocurrency exchange’s global entity is looking to ameliorate its relationships with governments, CEO Changpeng “CZ” Zhao tells the Financial Times. Nov 23, 2021 at 6:57 a.m. UTC Updated Nov 23, 2021 at 6:57 a.m. UTC Binance CEO Changpeng Zhao (CoinDesk archives) Source link

Binance has registered a fourth legal entity in Ireland, according to a report by the Irish Independent. After years of decentralized operations, Binance is set to settle down on a global head office to ease compliance woes. Changpeng “CZ” Zhao, founder and CEO of the world’s largest crypto exchange, said on Nov. 19 that Binance had picked a location for its HQ. Binance set up three companies in Ireland in September: Binance (APAC) Holdings; Binance (Services) Holdings; and Binance Technologies. The new entity is called Binance Exchange (Ie). In October, Zhao confirmed that Binance is considering Ireland for its global HQ […]

Norway is considering a crypto mining ban proposal put forth by two Swedish regulatory officials, Minister of Local Government and Regional Development Bjørn Arild Gram hinted in a Nov. 17 interview with Euronews. Norway is “currently considering potential policy measures” to address the “challenges related to crypto mining.” In this context, they are “looking at the solutions proposed by the Swedish regulators” with an eye on Europe-wide regulations, Gram said. In an open letter, officials from two of Sweden’s top regulators called for Europe to ban proof-of-work mining in order to meet the Paris Climate Agreement goals, Euronews reported on Nov. […]

Xiongan New District warned citizens of telecom fraud using the digital yuan, according to a Nov. 18 notice signed by the local government and central bank branch. Fraud cases involving China’s central bank digital currency have been making headlines. Just this week, police arrested a woman for defrauding RMB 300,000 ($40,000) using the CBDC. Earlier in November, another 11 people were arrested in Henan province for using the digital yuan to launder money for Cambodian gangs. The use of CBDC to commit fraud undercuts the narrative that digital currencies issued by nation states will be a better, less-prone-to-fraud alternative to crypto. […]

Oversea-Chinese Banking Corporation (OCBC Bank) is mulling creating a crypto exchange, the bank’s CEO Helen Wong said in an interview with Bloomberg Television today. “We are looking at it and seriously there are some work being done in the bank,” Wong said, adding that the bank wants to address customer needs “in a safe manner.” At the end of last year, Singapore-based OCBC had $121 billion in assets under management, making it the second-largest bank in Southeast Asia. OCBC rival DBS launched a crypto exchange in December 2020. DBS Vickers, the bank’s brokerage arm, received a license to offer crypto services […]

Binance, the global crypto exchange CZ started in 2017, has also set up an entity for its global headquarters and is currently communicating with regulators around the world, the CEO said. He named France, the U.A.E., and Singapore as crypto-friendly jurisdictions, but did not say where the actual headquarters was. Source link

The Reserve Bank of Australia has been ramping up research into central bank digital currencies (CBDCs), but is not convinced “that a strong policy case has emerged in Australia,” said Tony Richards, Head of Payments Policy at the RBA. Australia’s current payment infrastructure provides consumers with ample safe and convenient options, Richards said, addressing the Australian Corporate Treasury Association on Thursday. However, given payments innovation around the world, providing a new form of digital money could be key to “safeguarding confidence in national monies and the role of fiat currencies at the heart of monetary, financial and payment systems,” as well […]

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. @2021 CoinDesk English Source link

In his speech, the Prime Minister said the world is at a “historic moment of choice” when it is undecided whether emerging technology will be used for “cooperation or conflict, coercion or choice, domination or development, oppression or opportunity,” and that democracies should cooperate to figure out ways to safeguard their interests while allowing for innovation. Source link

Chinese crypto news sites ChainNews, Odaily, and information platform Block123, were inaccessible on Wednesday, as the Chinese government continues to crack down on the crypto industry. ChainNews posted its Telegram account on its Twitter on Nov. 15, saying it would be offline for 8-10 hours as the site undergoes maintenance. When asked via Telegram on Nov. 17 why the site was remained dark, the ChainNews official account told CoinDesk that Twitter and Telegram would continue to be updated during the website update. Odaily was also inaccessible on Wednesday, and had invited its audience to join its Telegram community in an Oct. […]

The Staples Center arena in Los Angeles will be renamed to Crypto.com Arena on Christmas day, according to a press release . The Singapore-based crypto exchange bought the naming rights from AEG for 20 years, for $700 million, the L.A. Times reported, citing sources familiar with the matter. The $700 million figure makes it one of the largest naming deals in sports history, according to the newspaper. The multi-purpose arena will reveal the new branding on Dec. 25, when the Los Angeles Lakers host the Brooklyn Nets. All Staples Center external signs will be changed to the new name by June […]

China’s National Development and Reform Commission (NDRC), said on Tuesday that in the next stage of its crypto mining crackdown it will consider “punitive electricity prices” for some crypto mines. The country’s top economic planning body might implement this measure for companies that mine crypto, but only pay residential electricity prices, said NDRC’s Meng Wei in a press conference, according to China.com, a news site run by the State Council Information Office. The NDRC will focus on industrial scale mines and state-owned entities that mine crypto and is calling on local governments to take care of mining within their jurisdictions, Meng […]

AMC Theaters will accept Shiba Inu through BitPay wallets in 60-120 days, AMC CEO Adam Aron said on Tuesday. BitPay will start accepting Shiba Inu on Aron’s suggestion, and AMC will be the first to use the service, Aron said in a tweet on Tuesday. BitPay provides payment processing services for cryptocurrencies. Last week, Aron said AMC will start accepting bitcoin, ether and other cryptocurrencies for online payments. The theater chain will also accept dogecoin for the purchase of gift cards worth up to $200 per day, the CEO tweeted early in October. Attention #SHIBArmy: Our friends @Bitpay decided to support […]

Investing in cryptocurrencies “doesn’t make sense right now,” Twitter CFO Ned Segal said, according to the Wall Street Journal. Twitter would have to change its investment policy to hold more volatile assets on its balance sheet, Segal said. The company prefers to hold less volatile assets, such as securities, he added. Fintech firm Square, which is also headed and co-founded by Twitter’s Jack Dorsey, Musk’s Tesla, and software firm Microstrategy hold crypto on their balance sheet. Dorsey is a supporter of decentralized technology, including bitcoin and cryptocurrencies. Twitter wants to let users connect their accounts to third-party services that allow them […]

More than 488,000 people have downloaded the consumer wallet for Nigeria’s central bank digital currency, the eNaira, according to a Bloomberg report on Monday. Launched on Oct. 25, the eNaira has been used for NGN 62 million ($150,000) in transactions, according to Osita Nwanisobi, a spokesman for the central bank that the Bloomberg story cited. Nigeria has minted about $1.2 million eNaira, central bank Governor Godwin Emefiele said when the CBDC was launched. Nwanisobi said that 78,000 merchants from 160 countries have signed up for the merchant wallet. The eNaira was developed by Barbados-based Bitt, the fintech company that also worked […]

In a Nov. 4 interview with local news outlet Tengrin News, Minister of Energy Magzum Myrzagaliev said that Kazakhstan’s electricity demand had been steadily growing by 1%-2% annually until about 10 months ago. Starting 2021, demand has grown 8%, or about 1,000MW-1,200MW, which Myrzagaliev said was due to crypto mining. Source link

Lawful crypto mines will not face restrictions or be disconnected from the national grid, as long as they don’t compromise the country’s energy security, Kazakhstan’s Minister of Energy Magzum Mirzagaliyev said at a meeting with the mining industry, according to a ministry press release on Wednesday. Source link

Crypto exchange Huobi Global will close the accounts of all Singapore-based users by March 31, 2022 to comply with local regulations, the exchange said in a statement on Tuesday. Huobi claims to be expanding its overseas presence to make up for expelling Chinese users, which represent half of its total user base and 30% of its revenue, according to co-founder Du Jun and Global Strategy Director Jeff Mei. After China’s central bank launched yet another crackdown on crypto trading, Huobi announced it will be phasing out mainland China accounts by the end of 2021. Singapore, known as a crypto hub, has […]

PSP Soteria Ventures, Gate Ventures, QCP Capital, Crypto.com Capital, the Avalanche Asia Star Fund (AVATAR), AscendEX, AntAlpha, MEXC Global, LBank, Fenbushi Capital, BitMart, 3Commas Capital, TokenInsight Research and ViaBTC Capital also participated in the round. Source link

U.A.E.-based Phoenix Technology Consultants has signed a $650 million order for crypto mining rigs, one of the largest purchases on record, CEO Munaf Ali said at the World Digital Mining Summit (WDMS), which started in Dubai. Deliveries of the “new generation” machines will start in 2022. Phoenix will also place orders for over $2 billion worth of crypto mining application-specific integrated circuits (ASICs) in the third quarter of 2022. Phoenix’s mining facility will consume over 600MW of electricity and will further expand to reach 1.4GW within the next 18-24 months, Ali said. Core Scientific co-founder and co-chairman Darin Feinstein congratulated the […]

The Ministries and the Duma, Russia’s lower house of representatives, want crypto miners to be recognized as entrepreneurs, Izvestia says. However, the Russian central bank does not support this initiative, citing the risks associated with crypto, according to the report from Monday. Source link

It is the second time that the U.S. Treasury Department has sanctioned a crypto exchange. Chatex “has facilitated transactions for multiple ransomware variants” and has provided “material support” to crypto over-the-counter exchange Suex, which is also associated with ransomware, the press release said. Source link

Citron posted a screenshot of what appears to be Discord settings that allow users to connect to Ethereum, saying “probably nothing.” The screenshot also shows the option to connect using Ethereum wallet MetaMask or chain-agnostic wallet connector WalletConnect. Source link

A Huobi subsidiary, Huobi Technology (Gibraltar) Co. Ltd., received a distributed ledger technology license (DLT) from the local FSC, which allows the company to use DLT technology to store or transmit value belonging to others, the press release said. Source link

Some NFTs are only digital collectibles in name and marketing, when in reality they are being used for investment or payment, the FATF warned regulators. Other NFTs that are not virtual assets, but are digital representations of assets regulated by the FATF, the task force said. Source link

Multiple CBDC bridge, a project by four monetary authorities to build infrastructure to connect central bank digital currencies (CBDC), revealed 15 use cases and 22 participants for the project at Hong Kong Fintech Week on Thursday. The project is a collaboration between the Bank of Thailand, the Central Bank of the United Arab Emirates, Hong Kong’s Monetary Authority (HKMA), the People’s Bank of China, and the Bank of International Settlements (BIS). It aims to lower costs and improve the speed of international transactions, using CBDCs. According to the announcement, major financial institutions like Goldman Sachs, HSBC, Société Générale, and China’s six […]

Kazakhstan has limited the amount of money local retail investors can put into crypto, domestic news website Kapital.kz reported on Wednesday. Retail investors can invest 10% of their annual income or 5% of their total assets, excluding their main residence, up to $100,000 per year, as long as they provide evidence of their finances to the regulator, the site reported. Should investors not provide any evidence for their finances, they can invest up to $1,000 per month, according to Kapital.kz, which said it attained the information from the Astana Financial Services Agency (AFSA) directly. The AFSA was not available for comment […]

The two companies will exchange shares through a third-party allotment capital increase, according to the announcement. Hybe will acquire a 2.5% stake in Dunamu worth KRW 500 billion ($423 million), while Dunamu will buy KRW 700 billion of newly issued Hybe shares, which represent a 5.6% stake in the music agency. Source link

Commonwealth Bank will be the first in Australia to offer crypto services to customers, the bank said in a Wednesday statement. The bank will offer a crypto exchange and a custody service in collaboration with Gemini and intelligence firm Chainalysis. Customers will have access to 10 digital assets, including bitcoin, ether, bitcoin cash, and litecoin. Commonwealth Bank will integrate Gemini’s crypto exchange into its app through an exclusive partnership, the bank’s CEO Matt Comyn said in the press release. The offerings will start next week as a pilot. Commonwealth Bank will add features progressively. Australia is the world’s third-largest adopter of […]

BitMEX bought $100,000 worth of carbon credits, representing 7,110 metric tons of carbon dioxide emissions, enough to offset its bitcoin carbon footprint for the next year, the crypto exchange said in a blog post. The credits will match the environmental footprint from both its bitcoin transactions and the servers powering the exchange, making it the first crypto exchange to become fully carbon neutral, BitMEX said in the post. BitMEX published the reasoning behind the conclusion in a separate post. The best way to approach carbon emissions for crypto exchanges is to figure out “how much electricity usage is incentivised per US […]

Metaverse startup The Sandbox closed a $93 million Series B funding round led by SoftBank, said a press release. The Sandbox is an Ethereum-based platform where players can “play, create, own, and govern a virtual world,” according to its site. Players can own in-game assets in the form of non-fungible tokens (NFTs), such as plots of land that they can build on. The Sandbox token, SAND, has a $2.46 billion market cap, according to data from intelligence platform CoinMarketCap. The startup’s majority stakeholder is Hong Kong-based gaming firm Animoca Brands, an early metaverse and GameFi backer which was valued at $2.2 […]

Coinbase said it will leverage Agara’s tech to “automate and enhance” its customer experience tools. The deal also adds deep learnings and AI expertise to Coinbase’s existing tech capacity, and furthers its buildout of a tech hub in India, according to the post. Source link

A hack on Boy X Highspeed (BXH) , a decentralized cross-chain exchange, that drained $139 million of funds was probably the result of a leaked administrator key, and possibly an inside job, CEO Neo Wang told CoinDesk Based on a consultation with an external security team, BXH says the hacker was probably able to break into the exchange’s Binance Smart Chain address after getting hold of the administrator’s private key, Wang said. The hacker either broke into the keyholder’s computer or might have been one of BXH’s technical staff, Wang said. The team is looking into the possibility the hacker set […]

Crypto mining rig maker Bitmain appointed Zhou Feng as its legal representative and general manager, the company said in a WeChat post. Zhou was a key deputy to Bitmain co-founder Zhan during a battle for control of the world’s biggest crypto mining machine manufacturer between Zhan and co-founder Wu Jihan. Zhan will continue to serve as Bitmain’s chairman. Zhou’s rich experience in supply chain management will “surely write a more brilliant new chapter,” the WeChat post said. The news was announced at an Oct. 28 staff meeting to celebrate its eighth-year anniversary. At the meeting, Bitmain also gave the “Same Boat […]

Major Chinese tech giants Ant Group, Tencent, and JD.com signed a “self-regulation” convention on non-fungible tokens (NFTs) with state organizations on Sunday, according to an Ant Group WeChat post and Chinese media. China’s big tech appears to be facing increasing pressure over its involvement with NFTs. The market hype around the unique digital assets appears to have made regulators worried that NFTs are edging too close to crypto trading, which has been practically banished from China in large part for creating too much market speculation. The “Digital Culture and Creative Industries Self-Regulation Convention” is made up of 11 tenets that align […]

In the online game, as in the show, competitors take part in six contests, with players eliminated in each round. An fee is required to enter each game, starting at 456 squid for the first round and increasing as the tournament progresses. The majority of the fees are pooled together to make up the winner’s reward, while 10% of the funds go to the development team. Source link

Red Date Technology, the firm behind the Blockchain Services Network, will launch infrastructure to support the deployment of non-fungible tokens in China. The project, dubbed the BSN-Distributed Digital Certificate (DDC), was announced at the BSN Open Permissioned Summit on Friday. Red Date CEO Yifan He said that NFTs will be widely used in China in the next five years, but that the government doesn’t want the technology to be associated with crypto or running on public, permissionless chains. “If we look at the environment in China, this is the only way to launch NFTs,” He said. On the BSN-DDC, developers will […]

China’s technology standardization body will issue a national standard for blockchain next year, said an official from the China Electronics Standardization Institute, according to news site Chuanguan. The institute has drafted a standard and is in the process of approving it, said Li Ming, director of the Blockchain Research Office at the standardization body, at the Fifth China Blockchain Development Competition held in Chengdu, Sichuan. China is looking to boost blockchain innovation and application in enterprise and government across the country, as it clamps down on crypto. Its latest Five-Year Plan, a planning document that outlines development goals, put blockchain on […]

Users can link their Adobe accounts, and Content Credentials, with social media profiles or crypto wallets. If they then sell their art as NFTs, the marketplaces will be able to show a digital certificate based on the Adobe-verified credentials. The credentials will also be linked on Behance, Adobe’s online portfolio site. Source link

Ant Group and Tencent have changed references of non-fungible tokens (NFTs) to “digital collectibles” on their platforms and sites, Chinese media Jiemian reported. So far, NFTs have not been included in the Chinese government’s rules against crypto trading and mining. However, state entities have warned against the use of NFTs for market speculation. Last week, a government-run tech park in the Guangdong province cautioned people against scams that prey on the NFT hype. The two firms appear to be distancing themselves from NFTs. Tencent said that the reference change reflects the company’s commitment to compliance, while Ant Group reiterated that it […]

JD.com’s tech arm revealed its non-fungible token technology and plans, following in the heels of its rival Alibaba. JD Technology is offering seven free limited edition NFTs built on its own NFT chain, commemorating its annual conference, JD Discovery, according to a WeChat post on its official account. The NFTs, JD’s first, are minted and released on JD Technology’s own blockchan, dubbed JD Chain. The company has developed “an NFT technical service platform” on which users can store, verify, circulate, and trace NFT collections. In August, Tencent and Alibaba launched their own NFT platforms. The seven NFTs feature JD.com’s mascot, each […]

News agency The Associated Press launched a collection of non-fungible tokens on Binance’s marketplace, according to a Binance press release. The collection, dubbed “Unique Moments,” features digitized versions of photos and news wires based on the AP’s reporting on historical moments of the the last century. Examples include Japan’s WWII surrender, Nelson Mandela’s inauguration, and the discovery of Pluto. The AP confirmed the news in a tweet late on Thursday. The news agency did not respond to CoinDesk’s request for comment as of press time. The NFTs are available as mystery boxes, each priced at BUSD 29 (Binance’s stablecoin). There are […]

Huobi’s Japanese subsidiary received approval from the local Financial Services Agency to offer crypto derivatives, according to a Thursday press release. Huobi Japan is one of seven exchanges in the country to have successfully registered with the regulators as a Type I financial instruments business. To register, firms must have stated capital and net assets upwards of JPY50 million ($438,061 each, and a capital-to-risk ratio over 120%. In April 2020, Japan’s FSA ruled that, to offer crypto derivatives, crypto firms have to go through the same regulatory hoops as mainstream finance companies and be registered as Type I financial instruments businesses. […]

The virtual meeting was hosted by the U.S. White House. Representative from Australia, Brazil, Bulgaria, Canada, Czech Republic, the Dominican Republic, Estonia, European Union, France, Germany, India, Ireland, Israel, Italy, Japan, Kenya, Lithuania, Mexico, the Netherlands, New Zealand, Nigeria, Poland, Republic of Korea, Romania, Singapore, South Africa, Sweden, Switzerland, Ukraine, United Arab Emirates and the United Kingdom participated. Source link

Founding members and affiliates include consultancy Accenture, decentralized finance protocol Avalanche, blockchain developer Billon Group, IT and business consulting firm CGI Group, cryptocurrencies Electroneum, Quant and digital-payment service Ripple. Source link

China’s Blockchain Services Network is integrating Cypherium blockchain, according to a press release shared with CoinDesk. The BSN is a platform where developers can access development tools and deploy their decentralized applications. It has so far integrated Ethereum, Hyperledger Fabric, Tezos, ConsenSys Quorum, and Solana, among others. The network runs through cloud-based city nodes in China and abroad. The platform is split into a Chinese version and an overseas version. Cypherium is a Layer 1 permissionless protocol that promises to enable exchanges of central bank digital currencies, stablecoins, and cryptocurrencies like bitcoin. Being permissionless, it allows anyone to participate in its […]

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. @2021 CoinDesk English ​ Source link

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. @2021 CoinDesk English ​ Source link

China’s Blockchain Services Network is set to launch portals for its international versions in Turkey and Uzbekistan, according to a press release. Red Date Technology, the BSN’s architect firm, signed an exclusive agreement with consultancy Turkish Chinese Business Matching Center (TUCEM), according to the press release shared with CoinDesk by Red Date. The BSN is a Blockchain-as-a-Service platform that is accessible through cloud nodes in China and abroad. It aims to make the development of decentralized applications cheap and accessible, and in the process also become the de facto infrastructure for a new “internet of blockchains.” Supported by Chinese government entities, […]

A commonly used model of bitcoin ATMs has several software and hardware vulnerabilities, Kraken Security Labs revealed in a blog post yesterday. The security team notified the manufacturer, General Bytes, on April 20 of the attack vectors. General Bytes has released patches for the backend system but some fixes may require hardware revisions, Kraken said. Bitcoin ATMs allow users to buy bitcoin using fiat currency. General Bytes is the second-largest manufacturer of Bitcoin ATMs, representing 22.7% of the global market, according to information provider Coin ATM Radar. The model in question, the BATMtwo (GBBATM2) had several vulnerabilities, according to Kraken including […]

The California city of San Jose, sometimes called the “Capital of Silicon Valley,” plans to fund internet access for low-income families through HNT tokens mined on the Helium network, according to a city press release published on Thursday. The pilot aims to give 1,300 participating households a one-time payment of $120 that they can use to pay for low-cost internet for one year. To fund these one-time payments, the Mayor’s Office of Technology and Innovation will install 20 Helium-compatible Hotspots with volunteer residents and small businesses. The hotspots will mine HNT tokens for a pilot period of six months. Helium aims […]

South Korea banned virtual asset services providers (VASPs) and their staff from trading tokens they issue, the country’s Financial Services Comission (FSC) said in a Wednesday statement. Crypto services providers must set up internal processes for the conflict of interest rules within a month. Those who don’t will be facing suspension of business and up to KRW 100 million ($85,000) in penalties. VASPs that serve South Korean customers had to register with the FSC’s anti-money laundering arm by this past Friday. Most crypto exchanges did not make that deadline and suspended operations. Only four managed to fulfil all the criteria such […]

“For domestic staff of relevant overseas virtual currency exchanges, as well as legal persons, unincorporated organizations and natural persons who know or should know that they are engaged in virtual currency-related businesses and still provide them with services such as marketing promotion, payment and settlement, technical support, etc., they shall be investigated in accordance with the law.” Source link

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. @2021 CoinDesk English ​ Source link

E-commerce giant Alibaba announced Monday it will stop selling specialized mining equipment on its platforms on Oct. 8. Alibaba said its decision was in response to the latest People’s Bank of China policy circular on crypto trading as well as a 2017 circular. The notice, signed by some of China’s top financial regulators and published on Friday, banned all crypto trading-related activities in the country. But the company said it is also taking into account the “instability of laws and regulations” on crypto around the world. Alibaba will shut down two categories: “Blockchain Miner Accessories” and “Blockchain Miners.” The e-commerce giant […]

Singapore startup Cyberdyne Tech Exchange (CTE) sold its first tranche of carbon neutrality tokens backed by Chinese carbon credits, according to a Monday press release. The exchange said it would sell the tokens, dubbed Carbon Neutrality Token (CNT), back in July. CTE sold tokens corresponding to 5,000 metric tons of carbon credits generated by a wind project in Zhangjiakou. Another 5,000 units will be released later this month, it said. To issue a token, companies verify their carbon credits with a third-party agency, and then “freeze” the carbon credits at China’s national carbon trading market, according to a July press release. […]

Policy The action comes days after China’s National Development and Reform Commission laid out its vision for eliminating crypto mining from the country. By Eliza Gkritsi Sep 27, 2021 at 8:32 a.m. UTC Updated Sep 27, 2021 at 9:19 a.m. UTC

The BSN is backed by Chinese government-adjacent entities, including the State Information Administration Center, state-owned telecom China Mobile, payments provider China UnionPay, and the National Reform and Development Commission, China’s macroeconomic planning institution under its cabinet. Source link

Chinese authorities ordered a fresh crackdown on crypto mining and outlawed virtually all crypto trading activities on Friday. The People’s Bank of China (PBOC) posted a list of forbidden activities that included some that were previously in the gray zone of regulation, while the National Development and Reform Commission (NDRC) set out a plan to phase out mining entirely. In May, the country’s State Council ordered a crackdown on crypto mining and trading that sent dozens of crypto companies abroad. Trading The “Notice on Further Preventing and Disposing of the Risk of Hype in Virtual Currency Trading” signed by China’s top […]

Red Date Technology, the company developing China’s Blockchain Services Network (BSN), wants the project to move past its government roots as it pushes for international expansion in a tumultuous geopolitical climate. Red Date filed in late July to register a nonprofit foundation in Singapore to manage the international version of the network, CEO Yifan He told CoinDesk. Read More: China’s Latest Crypto Ban Is Its Most Severe, Insiders Say The company hopes to bring international leaders from tech and financial services companies onto the board of directors, he said. The move is aimed at making the BSN into an “international standard […]

Only ten out of dozens of crypto exchanges in South Korea have registered with local authorities before the clock runs out on them on Friday, a notice on the regulator’s website shows. In April, the country’s Financial Services Commission mandated that all virtual asset service providers in South Korea must register with its anti-money laundering arm, the Financial Intelligence Unit (FIU), by Sept. 24. Full registration requires security certification as well as partnerships with banks for real-name verification accounts. Exchanges have been racing to file their documents. Five, Gdac, Graybridge, OK-BIT, Prabang, and Flat Thai X submitted yesterday, along with custodian […]

Quantitative crypto hedge fund Cambrian Asset Management said its two new actively managed trusts, one trading Bitcoin and one trading Ethereum, will manage downside risk. The $200 million fund said in a press release on Wednesday that its management strategy will “manage downside risks and maintain substantial upside potential while seeking to defer taxable events for their investors.” Cambrian claims that this strategy has helped its hedge funds cut downside volatility by over 70%, while delivering higher returns than a digital asset passive index in the past three years. Only institutional and accredited investors can buy into the trusts with an […]

BitMEX joined the ranks of crypto exchanges removing Korean language materials from its site ahead of a regulatory deadline that will likely banish dozens of exchanges from South Korea. “With the introduction of new local regulatory requirements in South Korea on 24 September 2021,” BitMEX will remove all Korean language from its site and trading platform, the exchange said in a Thursday blog post. This is likely the clearest mention of the Sept. 24 deadline among three foreign exchanges that have made similar moves in the past two months. Binance announced it was removing Korean won payment options and trading pairs, […]

Non-fungible tokens art inspired by Kai-Fu Lee and Chen Qiufan’s new book AI 2041: Ten Visions For Our Future will be released by NFT platform TR Labs, said a TR Labs statement shared with CoinDesk. The collaboration is “one of the first cross-medium projects between authors and artists representing two promising emerging technologies: AI and blockchain,” the statement said. Founded by former Christie’s Deputy Chairwoman Xin Li-Cohen, TR Labs is an NFT platform for fine art. In August, it auctioned an original artwork by renowned Chinese artist Cai Guo-Qiang for $2.5 million. AI 2041 is a collection of 10 stories about […]

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. @2021 CoinDesk English ​ Source link

Singapore-based crypto custodian Cobo Wallet raised $40 million in a Series B round led by DST Global, A&T Capital and IMO Ventures. The funds will be used for Cobo’s so-called “DeFi as a Service (DaaS)” product. Speaking to CoinDesk, COO Lily Zhuo described the product as a one-stop solution for institutions that want to access decentralized finance investment tools. Cobo has served more than 300 institutions and has enabled $20 billion in transactions through its platform, the company said in a press release on Thursday. DST Global is one of the world’s biggest venture capital firms. A&T Capital, which is a […]