Day: March 6, 2023

Here’s how Binance is mitigating its stablecoin needs after BUSD ban

boss

Binance has turned to a new set of stablecoins in the wake of the United States Securities and Exchange Commission’s (SEC) regulatory action against its native stablecoin, Binance USD (BUSD). The SEC had sent a Wells notice, alleging BUSD violates U.S. securities law. Following the SEC’s notice, the New York Department of Financial Services (NYDFS) asked BUSD issuer Paxos Trust to stop minting new BUSD altogether. The minting ban on BUSD has forced Binance to seek alternative methods to meet its stablecoin needs. According to on-chain data, the largest cryptocurrency…

Designing a Bitcoin Mining Shipping Container

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Scot Johnson has been designing, improving, and manufacturing plug and play custom Bitcoin mining shipping containers, but he … ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version

Silvergate Effect? Bybit Becomes Latest Crypto Exchange to Halt USD Withdrawals

boss

Cryptocurrency exchange Bybit, known for offering derivatives instruments, will temporarily suspend US dollar withdrawals from 10 March due to a service outage of its “end-point processing partner.” “Withdrawals via Wire Transfer (including SWIFT) will also be suspended at Mar 10, 2023, 12 AM (midnight) UTC due to the same end-point processing partner. If you wish to make any withdrawals via these methods, please do so before Mar 10, 2023, 12 AM (midnight) UTC,” the Dubai-headquartered exchange stated in a notice released over the weekend. Notice on Suspension of USD Payments…

Snoop Dogg Emerges as Co-founder of Shiller Livestream Platform

Web3 live-streaming platform Shiller will be powered by Web3 featuring blockchain heavily on the platform. Snoop Dogg is the co-founder of the app along with technology entrepreneur Sam Jones. Snoop Dogg, the popular American rapper and actor has revealed himself as one of the co-founders of a popular Web3-based live-streaming app “Shiller”. This is yet another partnership in the Web3 space by the popular hip-hop artist. Dubbed a “live broadcast platform”, Shiller aims to combine Web3 technology with real-time live-streaming content. Snoop Dogg now features as the co-founder of the…

Bybit introduces Mastercard-powered debit card days after halting USD transfers

boss

Bybit is set to launch a new debit card offering that will allow users to make payments and withdraw cash using cryptocurrency holdings. The Bybit Card will operate on the Mastercard network and will allow for fiat-based transactions by debiting cryptocurrency balances when used to pay for goods and services. The service begins with the launch of a free virtual card for online purchases, while physical debit cards are set to be available in April 2023. The service will work with Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USD Coin (USDC)…

Terraform Labs co-founder Do Kwon gets probed by Singaporean authorities

Local authorities in Singapore announced they had begun a probe that is connected to Do Kwon’s Terraform Labs. According to a Bloomberg report, Singaporean police sent an email on March 6, which said, “investigations have commenced in relation to Terraform Labs.” The email also added that the inquiries are “ongoing,” and Do Kwon is not currently in the city-state. Last month, on Feb. 16, the United States Securities and Exchange Commission (SEC) accused Do Kwon and Terraform Labs of fraud in a new lawsuit. Some voices in the crypto space…

Democratic Senators Push Against Meta’s Idea of Bringing the Metaverse to Teens – Metaverse Bitcoin News

boss

Meta, the social network company, is getting some pushback on its plan to market and bring Horizon Worlds, its flagship metaverse app, to teens. Democratic senators Ed Markey and Richard Blumenthal directed a letter to the company to halt these actions, citing concerns about the interactions that teens could have in Meta’s virtual worlds. Meta Sees Opposition to Metaverse Adoption Plans for Teens Two Democratic senators have written a letter asking Meta to stop its recently reported plan of opening its metaverse world to teens. Ed Markey and Richard Blumenthal,…

Crypto Funding Turns from CeFi to DeFi Following Major Collapses

According to the report, the numbers prove that Decentralized Finance is the new high-development and growth area for the crypto space. The report also suggested that a dip in Centralized funding projects was seen because of a possible saturation in the sector. Virtual asset investment companies have invested more than $2.7 Billion into decentralized finance undertakings in 2022. The investments have increased by 190% since 2021, while investments into centralized finance projects have gone down, dropping by a staggering 73% to $4.3 Billion in a similar timeframe. The exponential rise in…