Day: November 21, 2022

Banking Giant JPMorgan Files Trademark for New Crypto Wallet With Ability to Exchange and Transfer Virtual Currencies

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Financial services industry titan JPMorgan has filed a trademark for a new digital assets wallet. In a recent filing with the United States Trademark and Patents Office (USTPO), JPMorgan filed a trademark for a product called J.P. Morgan Wallet. According to the required trademark statement of use document, the J.P. Morgan Wallet’s identified purpose is to facilitate digital currency exchange. “Financial services, namely, providing electronic transfer of virtual currencies; providing electronic transfer of virtual currencies for use by members of an online community via a global computer network; financial exchange of virtual…

The nightmare continues for Sam Bankman-Fried and FTX — Law Decoded, Nov. 14-21

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As much as we all would want last week to be about something else, it was still all about FTX. The Supreme Court of the Bahamas has approved two provisional liquidators from PricewaterhouseCoopers to oversee the assets of the crypto exchange, which is headquartered in the country. Several days later, ​​The Securities Commission of the Bahamas ordered the transfer of FTX Digital Markets’ digital assets to a digital wallet owned by the commission to protect “the interests of clients and creditors.” Turkey’s Financial Crimes Investigation Agency became the latest authority…

XRP Holds Gains While Crypto Market Plummets Badly

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XRP, the native token of the Ripple ecosystem, continues to hold gains despite the market downturn. The token saw an inter-week surge of up to 14.2% from $0.345 to $0.394. While it has dropped from that high, it still holds up to 2.08%. However, it trades dangerously close to its floor price for this week and might lose all its gains soon. Its daily chart is already trending in the red zone. As of writing, XRP is down over 5% but looks on a rebounding path. The entire crypto market…

Two Estonians Charged With Running a Series of Crypto Scams Totaling $575M

Their first company, HashCoins, which launched in December 2013, purported to be a manufacturer of crypto mining equipment, and took orders (and payment in full) from customers who wanted to purchase miners. However, according to the indictment, HashCoins never manufactured anything – instead, it re-sold mining equipment purchased on the open market and found reasons to delay the shipment of the majority of its sales. Source

Investors Short Crypto Assets as Industry Scrutiny Intensifies

Short investment products, which bet on the price of an asset to drop, accounted for 75% of all inflows, a report by digital asset investment and trading group CoinShares found. Inflows for bitcoin (BTC) totaled $14 million, but considering the popularity of short-term investment vehicles, net flows added up to a negative $4.3 million. Source

Why The Bitcoin Price Has A High Chance Of Resting At $16,000

The Bitcoin price is trending to the downside and seems on track to retest its yearly lows at $15,550. The nascent asset class is facing the fallout of the FTX’s collapse. Once the world’s second-largest crypto trading platform, the company filed for bankruptcy protection.  As of this writing, the Bitcoin price is seeing massive selling pressure. The cryptocurrency trades at $15,900 with a 4% and 2% loss in low and higher timeframes. BTC has been more stable than other assets in the crypto top 10 by market cap.  In contrast,…

Chinese Platforms to Test Metaverse Tech During Qatar World Cup 2022 Broadcasts – Metaverse Bitcoin News

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Several Chinese platforms are introducing metaverse tech in their coverage of Qatar’s 2022 soccer World Cup. The experiences, which will use virtual reality (VR) headsets and 5G as base tech, will allow the users to enjoy a metaverse-like view of the event, and will also give Chinese companies a chance to hone their implementations of this tech. Qatar World Cup Goes Metaverse in China The FIFA World Cup 2022 in Qatar, one of the biggest sports events in the world, provides a chance for many companies to test their implementations…

Cardano To Launch Its Privacy-focused Blockchain Midnight

After privacy-focused projects like Monero failed to combat rising privacy issues in the blockchain industry, Cardano, a crypto project backed by the technology company Input Output Global (IOG), is preparing to launch a new privacy-focused blockchain.  The digital world has seen fast growth in recent years, and almost every country interacted with new technologies such as Blockchain, web 3 and cryptocurrencies. However, privacy protection, one of the most crucial online problems, remains a vulnerability in the industry. Speaking at an event at Edinburgh University, Charles Hoskin, CEO of Cardano Blockchain,…

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