Month: January 2022

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…

FTX announced as naming rights sponsor of Australian Blockchain Week 2022

FTX Trading Limited (FTX) will be the naming rights sponsor for Australian Blockchain Week 2022, which will run from March 21 to 25. Blockchain Australia is the peak industry network in Australia, bringing together industry, academia and government to discuss the opportunities of blockchain technology. I’m incredibly excited to announce @FTX_Official as the Naming Rights Sponsor for Blockchain Week 2022. A huge to @SBF_FTX for your support of the Australian ecosystem pic.twitter.com/B6cUWaTWIE — Steve Vallas (@stevevallas) January 17, 2022 Over 200 speakers across 75 events will present at Australian Blockchain…

Malaysia’s Central Bank actively assessing CBDC options

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Malaysia has joined the growing cadre of nations that are exploring the value of researching and developing a central bank digital currency (CBDC). Malaysia’s central bank, Bank Negara Malaysia, stated to Bloomberg on Jan. 17 that while a decision about exactly how to move forward with a CBDC has not yet been determined, it has focused research on a CBDC “via proof-of-concept and experimentation to enhance our technical and policy capabilities.” It also stated that the ostensible reason for the current research effort was to ensure it is prepared to…