Day: February 28, 2023

Ethereum Testnet Sepolia Successfully Conducts Rehearsal of Shanghai Hardfork

The developers will now conduct the Shanghai upgrade on the Goerli testnet in the coming weeks. This will be the final dress rehearsal before implementing the upgrade on the Ethereum mainnet. As the Ethereum Shanghai upgrade comes closers, Ethereum developers are seeing successful results by conducting a rehearsal on the Ethereum test network Sepolia. As per the details, Sepolia successfully replicated the withdrawals for staked Ether (ETH) today. Sepolia as Rehearsal of Ethereum Shanghai Hardfork The upgrade was triggered earlier today at epoch 56832 at 4:04 UTC and finalized at…

BTC, ETH Slip Ahead of US Consumer Confidence Report – Market Updates Bitcoin News

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Bitcoin and ethereum were trading lower on Feb. 28, as markets anticipated the release of the upcoming U.S. consumer confidence report. The data, which is for February, is expected to show a slight increase in confidence for the month. This will likely result in the Federal Reserve maintaining its rate hike policy next month. Bitcoin Bitcoin (BTC) fell for a second straight session on Tuesday, as prices flirted with a breakout below $23,000. BTC/USD moved to an intraday low of $23,205.88 earlier in today’s session, which comes less than 24…

Bitcoin-friendly Cash App integrates TaxBit amid tax-filing season

Mobile payments processor Cash App has integrated crypto tax and accounting software TaxBit into its services, giving Bitcoin (BTC) holders a more streamlined approach to reporting their taxes.  As of Feb. 28, Cash App users can now keep track of their Bitcoin transactions for tax reporting purposes using TaxBit, both companies announced. TaxBit’s chief operating officer Lindsey Argalas said her company’s platform simplifies tax reporting “for everyone who has integrated digital assets into their portfolio.” Cash App launched its Bitcoin trading services in 2018 and rolled out BTC deposits the…

Liquity’s Token Leaps on Binance Listing

Coinbase (COIN) will suspend trading of binance USD (BUSD) starting March 13 because the stablecoin doesn’t meet its listing standards, the U.S.-based cryptocurrency exchange announced in a tweet Monday. “Our determination to suspend trading for BUSD is based on our own internal monitoring and review processes,” a spokesperson told CoinDesk. “When reviewing BUSD, we determined that it no longer met our listing standards and will be suspended.” The suspension affects Coinbase.com, Coinbase Pro, Coinbase Exchange and Coinbase Prime. Users will still be able to access their BUSD funds and withdraw…

Bank of England has no tech skills to issue CBDC yet: Deputy governor

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According to a deputy governor, the United Kingdom is not ready to issue a central bank digital currency (CBDC) just yet, as the Bank of England (BoE) doesn’t have enough expertise. There is more than a 50% chance that the central bank of the United Kingdom would issue a CBDC, but the regulator doesn’t have the technical skills to issue a digital currency yet, BoE deputy governor Jon Cunliffe declared at the treasury select committee hearing on Feb. 28. Cunliffe said that the BoE expects to get the necessary expertise…

Binance in Partnership with Lee Woong-Yeol to Enter South Korean Market

In a note to executives and employees at the time of his retirement, Lee also talked about the necessity of blockchain technology. According to some recent reports, Binance is collaborating with Lee Woong-Yeol, the honorary chairman of Kolon, for a new virtual asset exchange in South Korea. According to sources, Lee plans to introduce a joint venture with Binance to create an exchange for both the government and financial authorities. Moreover, native blockchain companies that target logistics and digital asset issuers are allegedly helping Lee establish the exchange. Lee has…

Visa and Mastercard halt new crypto partnerships — Report

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According to a a Reuters report published on Feb. 28, American payment processors Visa and Mastercard has delayed the launch of new partnerships with crypto firms due to a series of high-profile bankruptcies in the industry that have led to increased regulatory scrutiny. The move follows a period of warming relations between payment giants and crypto firms as the popularity of cryptocurrencies exploded, with Mastercard exploring payments via USD Coin and Visa targeting stablecoin settlements mere weeks before today’s development.  Both Visa and Mastercard are said to be pushing back…

The six phases to product-market fit in Web3

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As the bear market of 2023 unfolds, the market is filled with tokens and projects on life support fighting to survive or retain value. Many of these projects, products and platforms differ from Web2 companies. They do not have focused teams to drive product-market fit (PMF). They use levers like incentives, tokens and a movement-centered approach to branding. Web3 platforms can begin their product-market fit journey with the distribution of utility tokens via airdrops or bounties creating a community-operated workforce. Permissionless product innovation, leaderless movements (e.g., Bitcoin) and faceless branding…