Day: January 10, 2022

Central bank of Bahrain trials JPMorgan blockchain and token

Bahrain is the latest nation to explore blockchain technology by American investment bank JPMorgan, with the country’s central bank trialing JPMorgan’s proprietary digital currency. The Central Bank of Bahrain (CBB) has successfully completed a digital payment test in collaboration with JPMorgan’s blockchain and cryptocurrency unit Onyx, according to an official announcement published on Jan. 6. The trial involved two other major institutions, Manama-based international bank, Bank ABC, and Bahrain’s national aluminum smelter Aluminium Bahrain, also known as Alba. The test enabled Bank ABC to settle real-time payments to Alba’s counterparts…

UAE regulators pave way for crypto and blockchain adoption, says legal expert

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While many countries are inclined to simply ban the use of Bitcoin (BTC) and virtual assets, regulators in the United Arab Emirates are taking a different approach.  The country has been consistently enacting its vision of becoming a blockchain capital by providing frameworks to guide crypto businesses on how to operate in accordance with the laws. Jurisdictions in the country are divided between the mainland, where the regulator is the Securities and Commodities Authority (SCA), and free zones i.e. geographically-specified areas within the UAE with relaxed taxation and regulatory regimes. …

Ethereum Could Avoid a Major Downtrend if it Closes Above One Key Level

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Ethereum declined heavily below the $3,250 support against the US Dollar. ETH price tested $3,000 before it attempted an upside correction. Ethereum started another decline and traded below the $3,150 support zone. The price is trading below $3,250 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $3,100 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a major recovery wave if there is a clear move above $3,300. Ethereum Price Remains At Risk…

German neobank N26 to launch crypto trading later this year

German neobank N26, one of the biggest European fintechs with over $9 billion in valuation, is finally ready to tackle crypto and equities trading after striving for a global expansion. Despite being an early player in the financial technology boom across Europe, the Berlin-based online bank N26’s global ambitions induced a setback in its diversification of services, N26 co-founder and co-CEO Max Tayenthal said in an FT interview. After exiting two critical fintech markets, the United States and the United Kingdom, N26 plans to “sharpen its focus on its European…

Binance CEO Zhao Is Worth $96B Excluding Crypto Holdings: Report

Changpeng “CZ” Zhao is worth an estimated $96 billion, a figure that rivals tech billionaires Mark Zuckerberg, Larry Page and Sergey Brin, according to Bloomberg. CZ’s net wealth has been estimated for the first time by the Bloomberg Billionaires Index, which concludes that it exceeds that of Asia’s richest person, Mukesh Ambani, the chairman of Indian conglomerate Reliance Industries. The $96 billion figure does not take into account Zhao’s personal crypto holdings, meaning it could be a significant underestimate. It is likely CZ’s wealth could rival that of Facebook founder…

Binance CEO CZ richest crypto billionaire at $96B: Bloomberg

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Changpeng Zhao, the CEO of Binance, tops the list of richest crypto billionaires with an estimated net worth of $96 billion. According to Bloomberg CZ ranks 11th among the world’s richest people as Binance retains its position as the biggest crypto exchange in terms of trading volume. CZ, the 44-year-old crypto entrepreneur, overtook Asia’s richest billionaire Mukesh Ambani despite Bloomberg excluding his personal crypto holdings such as Bitcoin (BTC) and the exchange’s in-house Binance Coin (BNB) tokens. The industry is growing. — CZ Binance (@cz_binance) October 26, 2021 According to…

Spanish Deputy Suggests Spain Might Attract Kazakhstan Miners – Bitcoin News

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Maria Muñoz, a Spanish deputy from the country’s Congress, wants to position its country as a reliable alternative to miners that are facing a dire situation in Kazakhstan, after their internet service was suspended, affecting their operative capacity. Muñoz sent a letter to the congress, inquiring about the possible actions that Spain might take to attract fleeing miners, and about the impact this event has had on the Spanish mining sector. Spanish Deputy Maria Muñoz Inquires About the Consequences of the Kazakhstan Situation Maria Muñoz, a deputy of…

Top 5 Staking Tokens To Consider in Investment Portfolio in 2022

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COVID-19 has caused many fatalities globally and poses a new and unprecedented hazard to public health, food systems, and the workplace. Cryptocurrencies gained importance when the economy worsened and uncertainty increased. Long-term crypto holders viewed staking as a way to earn rewards instead of merely keeping their coins in their wallets. Staking is an intriguing method to contribute to the security and efficiency of blockchain initiatives while simultaneously earning passive revenue. Consequently, the blockchain is more secure and can handle more transactions. Let’s check out five staking tokens worth investing…

Binance.US to Establish Office in Portals, the Metaverse Platform on the Solana Blockchain

The US branch of the world-leading Binance exchange, Binance.US, is opening an office in Portals, the Metaverse platform on the Solana blockchain. Portals is a web-based metaverse platform that allows users to explore buildings and interactive rooms. A cityscape is presented on this platform. Binance exchange is not the only exchange with Portals building space. Chris Lund, Head of Community and Partnerships at Portals, said FTX.US, an offshoot of U.S.-based cryptocurrency exchange FTX, will also establish its own office at Portals. Lund said that: “Binance.US is getting a space…