Day: January 18, 2022

Korean Bithumb exchange to launch NFT marketplace

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South Korean crypto exchange Bithumb is developing an NFT marketplace with “a large company” thought to be LG CNS, a subsidiary of LG Corporation.  Bithumb CEO Heo Baek-young confirmed in a Jan. 13 interview that the exchange was currently developing a nonfungible token (NFT) exchange which would help it stay competitive with Korbit and Upbit, two other domestic Korean exchanges. Heo said: “An NFT marketplace will be important in promoting blockchain-based content, which will become a driving force in the future.” There is no confirmation yet on the identity of…

Lucrosus Capital Launched $LUCA – Decentralized Venture Capital (DeVC) – Press release Bitcoin News

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press release PRESS RELEASE. The cryptocurrency market in the last months has witnessed the enormous success of promising valuable blockchain projects. Nevertheless, even investors from traditional markets are starting to detect the real potential of cryptocurrencies. They pour vast amounts of funds into the blockchain market. Therefore, the biggest success boom of promising projects is yet to come in 2022 and it is a good time to invest at current lower prices. This is a desirable situation for Venture Capital funds because demand for their services is rapidly increasing. However,…

Paradigm Leads $110M Investment in Bahrain’s First Licensed Crypto Brokerage

CryptoX – Cryptocurrency Analysis and News Portal Bahrain-based cryptocurrency exchange Rain Financial has raised $110 million in a Series B funding round co-led by Paradigm and Kleiner Perkins, according to a press release shared with CryptoX. The company will use the capital to pursue licensing in additional countries, enhance its technology platform and expand the team. Source The post Paradigm Leads $110M Investment in Bahrain’s First Licensed Crypto Brokerage appeared first on CryptoX. CryptoX Portal

Crypto.com Capital Expands $200M Fund to $500M

Singapore-based Crypto.com Capital announced today that it is expanding the size of its fund to $500 million, from the $200 million it announced in March 2021. Jon Russell, its newly hired General Partner based in Bangkok, told CoinDesk the fund will do seed and series-A deals, typically up to a $10 million check for the series-A. So far Crypto.com’s maiden fund has invested in play-to-earn guild YGG SEA, Ledger, and Frax Finance The fund will be focused on investing in DeFi, NFTs, and gaming. It will typically want to lead…

Pakistani Bank Asks Customers to Avoid Conducting Crypto Transactions – Regulation Bitcoin News

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A major bank in Pakistan has reportedly asked its customers to avoid conducting cryptocurrency transactions. Bank Alfalah’s action came shortly after the State Bank of Pakistan, the country’s central bank, submitted a report to the Sindh High Court recommending a complete ban on cryptocurrency. Bank Alfalah Asks Customers to Avoid Conducting Crypto Transactions Pakistani Bank Alfalah has reportedly started sending SMS alerts to its customers, asking them to avoid carrying out cryptocurrency transactions using its banking channels. Incorporated in 1992, Bank Alfalah is one of the largest private banks in…

Ethereum EIP-1559 upgrade launches on Polygon to burn MATIC

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The Ethereum upgrade that introduced a partial network fee burning mechanism in August last year has launched on the layer-two scaling network Polygon.  Ethereum’s EIP-1559 upgrade shipped with its London hard fork last summer and has been a success in terms of gas price predictability and network fee burning. The upgrade has now launched on the layer-two scaling network Polygon in an effort to improve “fee visibility”. It went live about an hour ago at block 23850000. The Polygon team announced the upgrade date on Jan. 17, following its successful deployment…

Binance eyes Thailand for latest crypto exchange expansion

Binance is looking to re-establish crypto exchange services and possibly open a new branch in Thailand after signing an agreement with Gulf Energy Development PCL. Gulf Energy Development PCL is a Thai holding company run by billionaire Sarath Ratanavadi that focuses on the energy sector. Gulf Energy reportedly made the agreement with the world’s largest crypto exchange based on the strong assumption that Thailand’s digital economy infrastructure will see “rapid growth” in the next few years. The cooperative efforts between Gulf Energy, Binance, and the Thai government will be focused…

In NY, Bitcoin Mining Saved The Oldest Working Hydroelectric Plant

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Another day, another hydroelectric plant saved by Bitcoin mining. For the untrained eye, the narrative that says that Bitcoin incentivizes green energy might seem convenient. However, each day more concrete examples come to light. Like the Navajo Nation case. Or this hydroelectric plant in Costa Rica. In contrast, China banned Bitcoin mining and some hydroelectric plants immediately closed and went up for sale. Anyway, today we’re talking about the Mechanicville Hydroelectric Plant in New York. Located near de Hudson River’s shore, in the Town of Halfmoon, Saratoga County. The place…

India’s Prime Minister Modi Calls for Global Collaboration on Crypto — Says ‘We Have to Have a Similar Mindset’ – Regulation Bitcoin News

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India’s prime minister, Narendra Modi, has called on governments worldwide to collaborate on cryptocurrency. He pointed out that “The kind of technology that is associated with it, the decisions taken by a single country will be insufficient to deal with its challenges.” Indian Prime Minister Urges ‘Every Country, Every Global Agency’ to Collaborate on Cryptocurrency Indian Prime Minister Narendra Modi talked about cryptocurrency at the World Economic Forum’s virtual Davos Agenda conference Monday. “The challenges we have been facing are also increasing. To counter these, there is a need for…