Day: February 16, 2022

Binance’s Paysafe deal worries UK financial watchdog

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The Financial Conduct Authority (FCA), the top financial authority in the United Kingdom, has raised concerns over Binance’s recent partnership with Paysafe, a retail payment processor. The U.K. financial watchdog said the latest partnership of Binance gives it access to the extensive retail payment network via Faster Payment Services (FPS), a critical service that was discontinued for the crypto exchange citing regulatory concerns. FCA had ordered Binance to halt all its services in June. Prominent banks like Barclays have withdrawn their support to the exchange, resulting in the suspension of banking…

Spanish Civil Guard Busts Organization Dedicated to Laundering Money With Crypto – Bitcoin News

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The Spanish Civil Guard has broken up a group that used cryptocurrencies as a tool to launder money. The organization, that operated in Madrid, supposedly lent these services to other criminal organizations. The MAUNA operations, as they were called by the Spanish Civil Guard, discovered phantom companies in several countries like Spain, Belgium, Sweden, Germany, and Lithuania that supported these actions. Spanish Civil Guard Shuts Down Crypto Money Laundering Activity in Operation MAUNA The Spanish Civil guard announced on February 15 the detention of several people linked to…

Ethereum’s Rollups Aren’t All Built the Same

Since zk rollups are so computationally intensive, it is nearly impossible to recreate the full EVM environment that layer 1 and Optimistic rollups are able to run. Therefore, this scaling solution is confined to single types of transactions and cannot host a wide variety of projects on a single network. However, since zk rollups compute and verify transactions on their own, the technology is able to offer fast finality and transaction costs that are significantly lower than Optimistic rollups and magnitudes lower than mainnet. Source

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The DeFi Protocol Building Liquidity For A Multi-Chain World

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VenomDAO has been bringing liquidity to the Harmony ecosystem since its launch. It has continued on this path with a number of products that allow users of the network to take advantage of its unique opportunities. It played an important role in ushering DeFi users into the Harmony ecosystem and its liquidity infrastructure is being applied across multiple blockchains. As the one-year anniversary of the protocol draws close, VenomDAO has continued to provide a much-needed service to the Harmony community. From the launch of ViperSwap, the first AMM/DEX offering incentives…

SoFi Chief Says “We’re Not Left Behind” In Regards To Blockchain Technology

Anthony Noto, CEO of SoFi Technologies, talked about the risks associated with cryptocurrency before revealing that he holds some digital assets. In an interview with CNBC, Noto explained; We’re invested in cryptocurrency. We own bitcoin, we own ethereum, we own some of the more obscure and different cryptocurrencies, but it’s a very small part of what we own. Related Reading | SoFi Gets Bitlicense Approval for Crypto Trading Service Noto additionally said; When you buy cryptocurrency on SoFi, every time we give you a warning: It’s an unproven asset, highly volatile.…

Crypto Custodian Fireblocks Acquires Stablecoin Firm First Digital

“We started working on Libra together back in 2019; Fireblocks, from a secure wallet perspective, and First in terms of payment protocols on the blockchain,” said First Digital CEO Ran Goldi. “We think that between the PSPs [payment service providers] both companies work with, we probably have over 2 million merchants that we can serve in 2022.” Source