March 2023

Stablecoins are solution to crypto’s banking problem, exec says

March 29, 2023 boss

The collapses of banks like Silvergate have certainly impacted cryptocurrency exchanges but there are ways for the industry to survive without the support of banks, one executive believes. Crypto exchanges significantly rely on traditional banking systems for customer deposits, which makes them vulnerable to various banking issues, according to Bitstamp USA CEO and global commercial officer Bobby Zagotta. The executive believes that stablecoins — cryptocurrencies whose value is tied to fiat currencies or other assets — could be a solution to crypto’s banking problem. “We are currently discussing how stablecoins…

First Mover Americas: Bitcoin, Up 70% This Year, Rebounds Past $28K

March 29, 2023

The latest price moves in bitcoin (BTC) and crypto markets in context for March 29, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Source

UK NFT Dropped Over Lack of Demand, Finance Minister Hunt Says

March 29, 2023

“I think it’s a question of demand,” Hunt said. “I think we always want to be at the cutting edge in the U.K., in terms of new technology, but the world has changed significantly since then and we’re not convinced that the demand is going to be there in the same way.” Original Source DemandDroppedFinanceHuntLackMinisterNFT CryptoX Portal

The next hub for Bitcoin, crypto adoption and venture capital?

March 29, 2023 boss

The cryptocurrency space has no shortage of skeptics. While many people criticize the environmental impact of proof-of-work blockchains or the proliferation of scams, one particular argument against crypto often stands out: Blockchain has no real use cases. Every two weeks, Cointelegraph’s The Agenda podcast breaks down this critique and explores the various ways blockchain and crypto can help everyday people. On this week’s episode of The Agenda, hosts Jonathan DeYoung and Ray Salmond chat with Elisha Owusu Akyaw, Cointelegraph’s own social media specialist and host of the Hashing It Out…

Nigerian crypto investors question central bank’s decision to flag P2P users

March 29, 2023 boss

Nigerian crypto investors using peer-to-peer (P2P) services have expressed concerns about the Central Bank of Nigeria flagging their bank accounts. CBN’s decision to flag accounts is believed to be in relation to the near $6.3 million (2.9 billion naira) Flutterwave hack, as the bank accounts have yet-to-be-proven affiliations with the hack. According to local news sources, on Feb. 19, Albert Onimole, legal counsel for Nigerian fintech company Flutterwave, reported to police in Yaba, Lagos, that almost $6.5 million (3 billion naira) had been illegally transferred from the accounts of his client. On…

Kraken Crypto Exchange Sponsors Williams Racing F1 Team

March 29, 2023 boss

Williams Racing and Kraken, a popular crypto platform, announced a global partnership ahead of the Australian Grand Prix in Melbourne. This marks Kraken’s first-ever official crypto and Web3 partner of the Formula 1 (F1) team. According to a press release published on Willaims F1’s official website, throughout the rest of the 2023 FIA Formula One World Championship season, Kraken’s logo will be prominently displayed on the FW45 racing car halo and rear wing. Additionally, the branding will be featured on driver racing attire and team headwear. In addition to the…

Do Kwon Extradition Sought by U.S., South Korea, Montenegro Justice Minister Says

March 29, 2023

“Primacy is given to the court proceedings led in Montenegro,” Kovac said, speaking through an interpreter. “If they are convicted for the criminal offense of falsifying identification documents, only after they served their prison sentence is it expected that they will be extradited.” Source

Do Kwon Successfully Formed a Company in Serbia Weeks After Interpol Issued Red Notice – Regulation Bitcoin News

March 29, 2023 boss

According to a report, the recently arrested Terraform Labs co-founder Do Kwon was able to register a company in Serbia just a few weeks after Interpol issued a Red Notice for him. Lawyers that helped Kwon form a company in Serbia reportedly said they were not aware of Interpol’s Red Notice against their client. Do Kwon Uses Korean Passport to Register Company Just a few weeks after an Interpol Red Notice for arrest was issued, the former Terraform Labs CEO Kwon was still able to form and register a company…

Keep Goerli Ether Alive as Ethereum Canary Network, DAO Argues

March 29, 2023

Developers use gETH tokens for testing purposes. These tokens are a testnet version of actual ether for developers to simulate transactions, smart contacts, and other activities prior to deploying on the Ethereum mainnet. This means that these tokens are supposed to be free – issued simply for testnet developers. Original Source AliveArguesCanaryDAOEtherEthereumGoerliNetwork CryptoX Portal

Alibaba Shares Up 12% after Firm Unveils Major Restructuring

March 29, 2023

The Alibaba growth sentiment has spread to the entire Chinese sector with the shares of other competing firms soaring following the news. The shares of Chinese multinational e-commerce and tech giant Alibaba Group Holding Ltd (HKG: 9988) is trading at a very high growth rate today as the company said it is restructuring its business into 6 different independent divisions. Hong Kong-listed shares jumped by 12.23% to HKD94.55. According to the company, the 6 subdivisions will help unleash its shareholder value and each of them can pursue an Initial Public…