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Month: September 2022
India’s ED ‘Unfreezes’ Bank Account of Crypto Exchange WazirX
Some of the 16 fintech companies under investigation had used the WazirX platform, the company said in a blog post on Monday. “WazirX has been cooperating with the investigators by providing them with all the necessary details, information, and documents of the alleged accused companies who used the WazirX platform,” the exchange added. Source
Algorand Foundation Declares $35M Exposure to Troubled Crypto Lender Hodlnaut
Singapore-based Hodlnaut was one of several crypto companies that succumbed to the pressures of the downturn. It applied to be put under judicial management on Aug. 13, five days after it froze withdrawals. Judicial management is a form of debt restructuring that sees an entity manage the business, property and assets of a distressed company. During the process the company is protected from legal proceedings from third parties. Original Source 35MAlgorandCryptoDeclaresExposureFoundationHodlnautLenderTroubled CryptoX Portal
Fireblocks records $100M+ revenue in subscriptions amid bear market
Fireblocks, a New York-based blockchain security service provider, made over $100 million in Annual Recurring Revenue (ARR) this year, confirming the rising interest in the crypto ecosystem that contradicts negative investor sentiments. ARR relates to the recurring revenue earned by a company based on subscriptions. As a software-as-a-service provider, Fireblocks witnessed overwhelming interest in decentralized finance, blockchain and Web3 technologies. The reason behind increased revenue amid an ongoing bear market can be attributed to an overall change in mindset, as companies and investors seem more inclined toward exploring crypto use…
Buenos Aires Might Implement Blockchain Systems to Make Social Aid Payments – Bitcoin News
Dario Nieto, a lawmaker in the city of Buenos Aires, has introduced a bill that would use blockchain systems to make social aid payments in order to bring clarity to these activities. Nieto has complained about the different intermediaries that use these social campaigns to make money and how introducing blockchain might eliminate these activities. Social Aid Blockchain Law Introduced in Buenos Aires Many systems are using blockchain due to the traceability that this tech might bring to any implementation. Senator Dario Nieto, a lawmaker for the city of Buenos…
🛑 Bitcoin-Ethereum What DO THIS Next | Crypto News Today
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Exchanges criticized for ‘nothingburger PR’ posts on upcoming LUNC tax burn
As the upcoming Terra Classic (LUNC) burning mechanism gained more hype, some crypto exchanges thought it would be a good idea to express their support. However, the crypto community quickly responded, calling out the exchanges for what some believe to be public relations stunts. On Sept. 1, Terra community member Edward Kim submitted a proposal to implement a 1.2% tax burn for every on-chain LUNC transaction in an effort to revive the crypto. The transaction tax will be sent to a dead address, removing part of the circulating supply permanently.…
The Conservative Party of Canada Elects Pro-Bitcoin Leader Pierre Poilievre as Party Head
Poilievre garnered over 68% of the conservative vote, miles ahead of his closest rival, former Quebec premier, Jean Charest, who only managed to scrounge up 16% of total votes. Poilievre not only dominated in vote count, but was also the preferred candidate in almost every single riding (electoral district) across Canada. Original
Nigerian Blockchain Firm Bitmama Closes $2 Million Pre-Seed Funding Round
Bitmama, a blockchain startup based in Nigeria, announced that it has closed its pre-seed funding round at $2 million after it recently added $1.65 million to the $350,000 that it raised in October last year. Africa-focused venture capital firms Unicorn Growth Capital and Launch Africa led the investment in Bitmama. Other firms that also participated in the funding round include existing and new investors like Adaverse, Flori Ventures, Tekedia Capital, GreenHouse Capital, ODBA, Five35 Ventures, Chrysalis Capital, Enrich Africa, Thrive Africa, Angellist Ventures, as well as angel investors, such as…
Aussies already lost $242M to investment and crypto scams in 2022
Australians have continued getting duped by investment and crypto-related scams, losing 242.5 million Australian dollars to scammers so far in 2022, according to Scamwatch’s latest data. From January to July of this year, the majority of all funds lost to scams of all types were investment scams, which range from romance baiting scams to classic Ponzi schemes and cryptocurrency scams. The figure is already 36% higher than the figures across all of 2021, which revealed that Australians lost 178.2 million AUD to investment scams in the year. Source: Scamwatch It’s…