Day: March 7, 2023

Chinese Giants to Compete With Apple and Samsung

Many Chinese companies are beginning to launch high-end products. It appears that the long-held dominance of Apple and Samsung over the high-end devices market is becoming increasingly under threat. According to a recent CNBC report, Chinese smartphone makers may just have begun making moves to ensure that the luxurious devices market is no longer dominated by the duo. Per the report, Chinese smartphone makers made their intentions known via their displays during the Mobile World Congress in Barcelona, last week. And considering some of the recent product launches of these…

Meta Is Planning Additional Layoffs, Which Could Begin This Week

Meta is reportedly working towards additional layoffs that could impact another set of thousands of employees. This comes after the technology company laid off 13% of its workers in November 2022 as part of its cost-cutting efforts. On November 9, CEO Mark Zuckerberg said in a letter shared with Meta Platfroms’ staff that more than 11,000 people would be forced to leave as the company endeavors to become more efficient by reducing its expenses and freezing hiring through Q1 2023. Indeed, Meta was passing through tough times that also raised…

Crypto Seen as Investment Opportunity in the MENA Region Says Iceberg Capital Executive Chairman – Interview Bitcoin News

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While interest in digital assets has waned in some parts of the world, in the Middle East and Northern Africa adoption of crypto has been skyrocketing according to Mustafa Kheriba, the executive chairman of the asset management firm Iceberg Capital Limited. According to Kheriba, factors such as high inflation and residents’ desire for high-return investment opportunities have drawn many to cryptocurrency. The Many Benefits of Blockchain Despite the bearish conditions that persisted in much of 2022, according to Mustafa Kheriba, the executive chairman of Iceberg Capital Limited, interest and adoption…

FTX Sues Grayscale In a Move to Unlock $9B of Shareholder Value

In the lawsuit, FTX said that Grayscale has been charging exorbitant management fees. They noted that “Grayscale’s actions have resulted in the Trusts’ shares trading at approximately a 50% discount to Net Asset Value”. In the latest development bankrupt crypto exchange FTX is suing the world’s largest crypto asset manager Grayscale Investments. The lawsuit comes from FTX’s sister company Alameda Research to seek injunctive relief to FTX debtors to realize more than $250 million in asset value. As per the press release, Alameda Research has filed the lawsuit in the…

LYOTRAVEL integrates bitcoin and ethereum payment options

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LYOTRAVEL  is a digital travel agency combining the passion for travel with cryptocurrency innovation. Since its establishment in November 2021, LYOTRAVEL has been offering travelers the convenience of booking flights and hotels using bitcoin (BTC), ethereum (ETH), Binance Coin (BNB), litecoin (LTC), LYO Credit, and other cryptocurrencies. LYOTRAVEL is part of the LYOPAY ecosystem of crypto products. LYOPAY envisions a world in which cryptocurrencies serve as legal tender. To realize this vision, they are out to put digital assets in everyone’s pocket by creating crypto-friendly tools used daily. LYOTRAVEL recently…

China’s WeChat adds support for digital yuan payments 

WeChat has joined the growing list of Chinese platforms supporting the country’s central bank digital currency (CBDC), the digital yuan (e-CNY). The move is expected to boost digital yan adoption in the country.  WeChat, a Chinese social media, instant messaging and payments solution from the stables of Tencent, has integrated the digital yuan into its platform, joining the growing list of firms and merchants that already support the CBDC. Per sources close to the matter, via WeChat, Chinese residents can now pay their utility bills and other goods and services…

Ethereum Layer-2 Solution Scroll Secures $50 Million in Fresh Funding

Even in its pre-alpha stage, the Ethereum Layer 2 platform Scroll has reached one million unique addresses as well as 16 million transactions. On Monday, March 6, the Ethereum Layer-2 network Scroll which uses zk-roll-ups technology raised more than $50 million in its latest funding round. some of the top venture capital giants participated in the latest funding round including Polychain Capital, Sequoia China, Bain Capital Crypto, Moore Capital Management, Variant Fund, Newman Capital, IOSG Ventures and Qiming Venture Partners. Scroll hasn’t disclosed many details about the structure of the…