Day: March 24, 2023

How Montana stands to benefit if its pro-crypto mining bill is approved

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The Montana Senate recently passed a bill designed to protect crypto miners operating within the state. The proposed law, which is currently making its way through the state’s House of Representatives, seeks to protect both individual and commercial miners in Montana against discriminatory laws by scrapping some of the rules that have the potential to undermine their operations. Specifically, the bill seeks to protect miners against taxes on digital assets used as a means of payment. Additionally, it endeavors to permit home crypto miners who use less than 1 megawatt…

zkSync Era launches with Uniswap and Sushi — First zkEVM on mainnet

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Some of the biggest names in decentralized finance, including Uniswap, Sushi, Maker and Curve, are set to launch March 24 on zero-knowledge proof roll-up zkSync Era. The Ethereum layer 2 scaling network has finally opened to users in alpha after four years in development, enabling faster and cheaper transactions. It is the first Ethereum Virtual Machine compatible zk-Rollup to launch on mainnet (competitor StarkWare uses a bespoke language called Cairo), allowing most Ethereum DApps to simply port over with very few changes. Between 32 to 50 projects are expected to go live…

Nasdaq Aiming to Debut Crypto Custody Service by Q2 End: Bloomberg

The stock market exchange operator’s senior vice president and head of digital assets Ira Auerbach said that the firm is working on getting the necessary infrastructure and regulatory approval in place. Nasdaq applied to the New York Department of Financial Services (NYDFS) for a limited-purpose trust company charter which would oversee its custody service. Source

Heavyweight champ Oleksandr Usyk seeks to tokenize boxers’ careers

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IBF, WBO and WBA heavyweight boxing champion Oleksandr Usyk has put his weight behind a blockchain platform that aims to tokenize and support the boxing industry. The Olympic gold medalist has teamed up with Ukrainian-based cryptocurrency exchange Qmall to develop the Ready to Fight platform. The browser-based platform makes use of blockchain technology to help boxers tokenize their brands to receive donations and investments as well as a means to deliver exclusive content. Ready to Fight introduces a novel means of supporting and connecting the wider boxing industry. The platform…

Binance spot trading halted due to issue on trailing stop orders

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Crypto exchange Binance has encountered major issues with spot trading on the platform. On March 24, Binance suspended all spot trading transactions, according to an announcement by Binance’s official Twitter account. “We are aware of an issue impacting spot trading on Binance. All spot trading is currently temporarily suspended as we work to resolve this as soon as possible,” Binance wrote. Binance CEO Changpeng “CZ” Zhao subsequently took to Twitter to report that the initial analysis indicated bug issues with the matching engine. He noted that the bug was discovered…

LVMH CIO Insists Luxury Products Need Blockchain Technology

For LVMH, a task to convince other luxury brands to join the blockchain movement has been a difficult one. Luxury goods company LVMH has suggested that luxury brands are dependent on blockchain technology to improve the lifecycle of their products. According to Franck Le Moal, the Chief Information Officer (CIO) of luxury goods company LVMH, “when you talk about luxury, you are talking about long-term products, repair, and care”. And to achieve this, Le Moal, who is also the vice-chairman of Aura Blockchain Consortium has hinted at the role of…