Day: February 27, 2023

Xiaomi Releases Its New AR Glasses with ‘Retina-Level’ Display

In its pair of AR glasses, Xiaomi has used a pair of MicroLED screens that offer a peak brightness of 1,200 nits. Augmented Reality (AR) is likely to be the next big transition for big-tech companies, especially those working in the smartphone and tablet industry. During the recent Mobile World Conference (MWC) in Barcelona, the Chinese smartphone giant Xiaomi unveiled a new prototype of its Wireless AR Glass Discovery Edition. This new AR wearable device from Xiaomi is very lightweight at just 126 grams. The Chinese tech company managed it…

Mirror Trading International Liquidators Spent More Than $6 million on Lawyers and Investigators – Africa Bitcoin News

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Liquidators of the now defunct bitcoin trading platform, Mirror Trading International have so far used approximately $4.2 million on expenses such as lawyers’ or consultants’ fees. Between Jan. 23, 2023, and the date of their appointment, liquidators claimed to have recovered approximately $770,000 which belonged to MTI. Liquidators’ Fees Liquidators of the collapsed bitcoin Ponzi scheme Mirror Trading International (MTI) have so far spent approximately $4.9 million (90.2 million rands) on lawyers and consultants since assuming control, a report has said. According to a Mybroadband report, a total of approximately…

$1B Voyager-Binance Deal Benefits Halved if Alameda Loan Claim Succeeds: Texas Regulators

“While Binance US has affirmatively represented to its customers that it was working on getting licensed in Texas, Binance US has never applied for a license with the SSB [State Securities Board] and, after a year, abandoned its license application with the DOB [Department of Banking] after failing to submit sufficient financial information,” the Friday court filing said. Source AlamedaBenefitsClaimDealHalvedloanRegulatorsSucceedsTexasVoyagerBinance CryptoX Portal

Solana outage triggers ballistic reaction from the crypto community

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As the Solana network suffered another setback, crypto community members went on social media to express various concerns, even comparing the blockchain to other projects like Ethereum and Bitcoin.  On Feb. 25, the Solana network faced performance degradation issues, resulting in transaction disruptions, leading validators to opt for a network restart. Seemingly tired of the same old story, members of the community expressed themselves on Twitter, with some even questioning Solana’s (SOL) rank as a top cryptocurrency. Amid the network issues, nonfungible token (NFT) artist Crypto Tea raised a question…

Yuzo Kano Plans to Reclaim bitFlyer CEO Position, Eyeing for IPO

According to Kano, the company has become an enterprise that offers nothing new to its customers. Yuzo Kano, who is the co-founder of Japan-based cryptocurrency exchange bitFlyer, is planning to re-establish himself as the CEO in a stakeholder meeting next month. In an attempt to stimulate what according to him is a stagnating company, Kano plans to re-establish the crypto firm and boost its growth towards an Initial Public Offering (IPO) in the upcoming months. The former bitFlyer CEO resigned from the firm in 2019 after a series of management…

$700,000 drained from BNB Chain-based DeFi protocol LaunchZone

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$700,000 worth of funds has been drained from BNB Chain DeFi protocol LaunchZone, with the project alleging that an attacker has carried out an exploit. Details remain scarce after more than 80% of funds in the LaunchZone liquidity pool were drained on Feb. 27. A message on the project’s official Telegram group warned users not to buy tokens until more information has been gathered: “$LZ is being hacked from DND exploiter. The team is handling the situation, please don’t buy the token at this stage. Please keep calm. We will…

Sequoia and a16z Make More Investments in Fintech than in Any Other Sector in 2022

Leading VC giants Sequoia & a16z undertook several investments in the fintech space in 2022, more than any other sector. Sequoia Capital and Andreessen Horowitz (a16z) reportedly invested more in fintech than any other sector last year. Both leading venture capital firms made sizable investments in fintech despite the tech downturn that characterized much of 2022. For instance, Sequoia had over 100 investments in the sector, representing roughly a quarter of its deals. Meanwhile, a16z participated in 206 fintech deals in 2022, also representing a quarter of total investments last year. Furthermore, 60% of…

CoinFLEX Claims Blockchain.com Owes 3M FLEX Coin Worth about $4.3M

Blockchain.com has, however, disputed the claims by the CoinFLEX exchange, citing that there are no documentations or on-chain data to support the argument. A Singapore-based law firm, Nine Yards Chambers LLC, has claimed that Blockchain.com – a veteran crypto firm – has failed to repay $4.3 million in FLEX coins to one of its clients, the Coinflex cryptocurrency exchange. According to the law firm, Blockchain.com has until March 7 to confirm that it will repay CoinFLEX the FLEX coins and has set a deadline of March 21 for the transaction…