Day: March 6, 2023

Banking the Unbanked with Cryptocurrency: Risks and Rewards

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According to the World Bank, over 1.7 billion adults around the world do not have access to traditional banking services, effectively leaving them out of the financial system. However, cryptocurrency and blockchain technology have the potential to solve this problem by allowing the unbanked to access financial services without the need for traditional banking infrastructure. In this article, we’ll look at the risks and benefits of using cryptocurrency to bank the unbanked. Cryptocurrency is a type of digital or virtual currency that employs cryptography to secure and verify transactions as…

ETHDenver 2023 Ran a Profit. That Could Mean Payouts for $SPORK Holders

Wholly-owned by SporkDAO LCA, Bufficorn Ventures writes small checks to “really, really early” crypto companies to help them get going, Paller said. Bufficorn has easy access to this pre-seed landscape given its proximity to ETHDenver’s builder community, hackathons and speakers, some of which have become rocketing successes after attending the conference. The future returns of Bufficorn Ventures’ investments could also be distributed to patrons, Paller said. Source

ETC Remains Near 2-Month Low, LTC Down by 4% on Monday – Market Updates Bitcoin News

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Ethereum classic remained near a two-month low on March 6, as a cloud of uncertainty continued to hover over markets. The global crypto market cap remained bearish to start the week, and is down 0.55% at the time of writing. Litecoin also moved lower on Monday. Ethereum Classic (ETC) Ethereum classic (ETC) started the week trading close to a two-month low, as volatility in crypto markets remained high. ETC/USD slipped to an intraday low of $19.26 on Monday, a day after trading at a peak of $20.05. The move has…

BIS wraps exploration project on retail CBDC payment system

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The Bank for International Settlements, or BIS, has reported it has concluded a project exploring international retail and remittance payments use cases for central bank digital currencies, or CBDCs, with the central banks of Israel, Norway and Sweden. In a March 6 report, the BIS said it had finished Project Icebreaker, an initiative involving the bank’s Innovation Hub Nordic Centre testing key functions and the technological feasibility of interlinking domestic CBDC systems through the Central Bank of Norway, the Bank of Israel, and Sveriges Riksbank. According to the report, the…

Unlicensed Cryptocurrency Kiosk Operation Exposed: Ohio Company Accused of Money Laundering and Scams

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More than 50 cryptocurrency kiosks were recently confiscated in Ohio after an inquiry spearheaded by the Cyber Fraud and Money Laundering Task Force of the United States Secret Service. The kiosks were owned by S&P Solutions, which conducted business as America’s Bitcoin, and three executives were charged with participating in an unlicensed cryptocurrency kiosk operation. The corporation is accused of conspiracy, money laundering, and other crimes, media reports said.  According to the prosecutor, romance scammers, robocallers, and law enforcement impersonators exploited the kiosks to extract funds from users’ cryptocurrency wallets…

Bitcoin traders eye $19K BTC price bottom, warn of ‘hot’ February CPI

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Bitcoin (BTC) failed to react at the March 6 Wall Street open as consensus formed around a potential violation of $20,000. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $19,000 BTC price is “breakdown target” Data from Cointelegraph Markets Pro and TradingView tracked a limp BTC/USD as it clung to $22,400 at the time of writing. Motionless throughout the weekend, the pair offered few trading opportunities as concerns built up over the impact of forthcoming macroeconomic data from the United States. $BTC 4-Hour Good luck trading this. pic.twitter.com/nc99kF8HbS — The Wolf Of…