Bitcoin and Ethereum slow down as transaction values and fees plunge 70%

Bitcoin (BTC) and Ether (ETH) appear to be experiencing something of a slowdown, as on-chain data shows a dramatic decrease in the U.S dollar value of coins being sent across both blockchains in the past week. At the same time, transaction fees for both chains have receded from recent highs, or in Ethereum’s case, an all-time high. Data from Bitinfocharts shows $46.68 billion worth of BTC was sent across the Bitcoin blockchain on Feb. 25. For some context, that’s around 5% of the total Bitcoin market cap, which stands at…

Huobi secures crypto asset management license in Hong Kong

Huobi, one of the largest cryptocurrency exchange platforms in China, appears to be pursuing further expansion of its business following the recent regulatory clearance in Hong Kong. According to an official announcement by Huobi Technology Holdings Ltd., the company’s asset management subsidiary has secured approval from the Hong Kong Securities and Futures Commission to launch a cryptocurrency asset management portfolio. The news is a follow-up to Huobi securing “Type 4” and “Type 9” licenses from the SFC back in July 2020. In Hong Kong, a Type 4 license enables a…

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In First Physical Banksy Artwork Burned and Digitized to NFT

The 21st-century art enthusiasts are stashing physical artwork and converting them into digital collectibles in the forms of blockchain-based NFTs that are further auctioned for millions of dollars. The recent developments around NFTs have really caught fire as things have escalated to a whole new level. In a first-of-its-kind move, the original artwork of Banksy worth £70,000, dubbed Morons, was destroyed and converted into a non-fungible token (NFT). Morons, 2006 popular print ridicules the collectors who pay massive sums of money for art. The destruction happened in Brooklyn, New York…

tZERO and Earn partner up for real-estate backed digital securities liquidity

tZERO ATS, a broker-dealer which facilitates the secondary trading of digital security tokens, has partnered up with commercial real estate and finance platform Earn.re, according to a joint announcement on March 3. The partnership will allow commercial property issuers on Earn.re to provide extra liquidity for the trading of digital assets on tZERO ATS, subject to the platform’s due diligence. Earn supplies software solutions for the issuance of digital securities backed by real estate. Its users can employ blockchain technology to finance commercial real estate and create fractional shares of…

Colombia’s oldest commercial bank pilots crypto services

Colombia’s oldest commercial banking institution, Banco de Bogotá, is reportedly exploring cryptocurrency-related services. According to a report by local news agency Portafolio, Banco de Bogotá announced Monday that it will participate in a pilot project directed by the Superintendencia Financiera de Colombia, the country’s top financial regulator. The project will be run within a regulatory sandbox — dubbed la Arenera — which was approved by the Ministry of Finance and Public Credit in September 2020. Banco de Bogotá will explore the business model and potential risks associated with the management of…

Hex Trust Announces Custodial Solutions for Non-Fungible Tokens (NFTs)

Hex Trust is the first-ever platform to offer secure custodial services for NFTs. The decision comes amid NFTs gaining massive popularity transacting millions-of-dollars. On Tuesday, March 3, digital asset custodian Hex Trust announced new crypto custodial solutions for securely storing non-fungible tokens (NFTs). Probably, this is for the first time that a crypto firm is offering custodial solutions for NFTs. NFTs have gained massive popularity in recent times. These are basically blockchain-based cryptographic tokens that are not interchangeable. Each NFT is unique in its existence and can’t be duplicated. These…

NFT Sale of Ben Mauro Completed within Minutes of Launch for $2 Million

With the NFT craze catching up, popular artist Ben Mauro known for creating profound characters and futuristic lifeforms successfully sold 21 unique collections in NFTs on the VIV# marketplace leveraging the Flow blockchain. On Wednesday, March 3, legendary concept design artist Ben Mauro completed the sale of its 21 NFT collectibles, raising a whopping $2 million in a flash sale that lasted just 7 minutes. The sale happened on the VIV3 marketplace and facilitated on the Flow blockchain. Also, the sale happened in 3 tier packs – Common, Rare and…

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DIS Stock Up 0.87%, Company Plans to Close 20% of Disney Stores to Focus More on e-Commerce

As Disney plans to focus on e-commerce, the company said it would work on a better shopDisney website. The Walt Disney Company (NYSE: DIS), popularly known as Disney, is planning to permanently close 20% of its stores as the company shifts focus to e-commerce. The company said the store shuttering would be done before the year ends. Disney announced its plans to close 20% of its stores on the 3rd of March. With about 300 Disney stores worldwide, the company said it would close about 60 of its North American…