Day: February 11, 2023

Chinese Government Launching National Blockchain Innovation Center – Bitcoin News

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The Chinese government is setting up a national blockchain innovation center in Beijing to focus on industrial applications and major use cases of blockchain technology, particularly those related to the Chinese economy. China Establishing New Blockchain Center China’s Ministry of Science and Technology has approved the establishment of a blockchain research center called the National Blockchain Technology Innovation Centre, the government-run newspaper Beijing Daily reported Wednesday. The new blockchain center will be based in Beijing and will be led by the Beijing Academy of Blockchain and Edge Computing (BABEC), which…

The SEC’s Latest Crackdown on Crypto Innovation – Op-Ed Bitcoin News

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The crypto world was jolted last week when the Securities and Exchange Commission (SEC) shut down Kraken’s staking program, much to the satisfaction of Chairman Gary Gensler and his team. But what does this mean for the future of cryptocurrency and, more specifically, staking? The following opinion editorial was written by Bitcoin.com’s Business Development Manager Ben Friedman. Balancing Regulation and Innovation in the Crypto World: Staking at the Crossroads Staking, the act of retaining a specific amount of a particular cryptocurrency in a wallet and taking part in the validation…

Kraken’s staking down, FTX post-bankruptcy hell, Binance news…

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Top Stories This Week Kraken reaches $30M settlement with SEC over staking as IRS seeks user information Kraken has agreed to stop offering staking services or programs to United States clients after reaching an agreement with the U.S. Securities and Exchange Commission (SEC). Along with ceasing operations, the crypto exchange will pay $30 million in disgorgement, prejudgment interest and civil penalties. The SEC claims that Kraken failed to register the program as a securities offering. The move has sparked controversy within the SEC. Commissioner Hester Peirce has publicly rebuked her…

France’s top modern art museum to display CryptoPunks, Autoglyphs NFTs

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Paris’s leading contemporary art museum, the Centre Pompidou announced on Feb. 10 an upcoming permanent exhibition targeting the intersection between art and the blockchain represented by nonfungible tokens (NFTs).  According to an announcement on Feb. 10, the Centre will feature NFTs from over 16 digital artists around the world, including popular collectables such as CryptoPunk #110 and Autoglyph #25, both donated to the Centre Pompidou. Le Centre Pompidou fait l’acquisition d’un ensemble d’œuvres traitant des relations entre blockchain et création artistique, dont ses premiers NFT ! Ce sont 18 projets…

Embracing the Metaverse: A Guide for Business Owners to start business with Metaverse

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The Metaverse has recently become a popular topic of discussion, with some finding it exciting while others fearing it is the first step toward a dystopian world similar to that depicted in the Black Mirror series. Regardless of these divergences, the Metaverse market is expected to reach $800 billion by 2024, and according to JP Morgan and Goldman Sachs, it could be worth anywhere between $1 and $12 trillion in the future. The Metaverse’s value stems from the widespread use of 3D technologies across various industries. Large tech companies are…

Paypal Puts Stablecoin Plans on Hold as US Regulators Crack Down on Crypto Industry – Bitcoin News

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During the first week of 2023, payment service giant Paypal said it was exploring the launch of a stablecoin. At the time, an executive at Paypal stated that if the company moved forward, it would work closely with financial regulators. However, on Feb. 10, a source noted that Paypal has put the concept on hold for now amid the regulatory scrutiny of the crypto industry. Paypal Pauses Stablecoin Development as Regulatory Concerns Loom On Jan. 7, 2023, it was reported that Paypal was exploring the creation of a stablecoin.“We are…

Bit2Me Debit Card Launch Gives Users up to 9% Cashback on All Purchases – Sponsored Bitcoin News

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sponsored Bit2Me, the biggest Spanish exchange, and the first company to be recognized as a virtual service provider by the Bank of Spain has just launched a long-awaited debit card. The Bit2Me debit card works across the entire Mastercard network, enabling both crypto-stablecoin payments across more than 90 million global businesses and up to 9% cash back on all payments. The Bit2Me card can also be used in-store & online using NFC-enabled mobile devices, such as smartphones and smartwatches. Right now the card can be linked to 8 top cryptocurrencies…

Over 50,000 Added to the Bitcoin Blockchain in 2023 – Bitcoin News

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As of Friday, Feb. 10, 2023, the Bitcoin blockchain had seen the addition of more than 50,000 Ordinal inscriptions as the trend has continued to increase daily. People are inscribing text, images, videos, audio, and software applications onto the blockchain, with some inscriptions fetching high prices via over-the-counter (OTC) trades. A clone of the popular NFT collection Cryptopunks, called Ordinal Punks, is selling for similar values to the original NFTs minted on Ethereum. Ordinal Inscriptions Become Latest Sensation in NFT Market, Selling for High Prices on Over-the-Counter Trades Ordinal inscriptions…

Bitcoin miners as energy buyers, explained

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To power their mining operations, Bitcoin miners either purchase electricity from conventional and renewable energy sources or develop and run their own renewable energy facilities, turning them into energy consumers. Miners typically purchase electricity from energy providers, such as utility companies or independent power producers, to mine BTC. They then use that electricity to power their mining equipment. This can include both traditional energy sources, such as coal or natural gas, as well as renewable energy sources, such as solar or wind energy. Hydro-Quebec, a Canadian utility company that sells…

Jump Crypto unveils critical vulnerability on Binance’s BNB Chain

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Web3 infrastructure firm Jump Crypto has discovered a vulnerability in the Binance BNB Beacon Chain, which would allow the mint of an unlimited amount of arbitrary tokens. The issue was privately disclosed to the BNB team, enabling a patch to be developed and deployed within 24 hours. In a blog post from Feb. 10, Jump Crypto disclosed a detailed report about the vulnerability found two days earlier, which could “have led to a large loss of funds.” As per the report, the BNB Chain is composed of two blockchains –…