Month: March 2023

Next Evolution of Blockchain Software Has Only Just Begun: Bank of America

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Bitcoin Miners’ Revenue From Fees Rises Suggesting the Onset of Major Bull Run

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Fees are a function of transaction size and network volumes (how congested the network is). Transactions are processed in blocks, storing up to 1MB of data. Hence, a sudden spike in activity often leads to network congestion – transactions waiting to get verified. In such situations, miners target transactions with higher fees first. In other words, the more a user offers in fees, the faster their transaction is likely to be verified. Original

JPMorgan to Acquire Leading Data Platform Aumni in Venture Capital Service Push

Financial powerhouse JPMorgan will acquire Aumni for the data platform’s value at its last fundraising in 2021.  Banking giant JPMorgan appears set to acquire leading venture and private markets investment data platform Aumni. Yesterday, the New York-based multinational financial services company announced a definitive purchase agreement with Aumni. Although JPMorgan did not disclose financial terms, the bank expects to pay the data platform’s value at its last fundraising in 2021. This implies that JPMorgan could fork out around $232 million for Aumni. Furthermore, the banking powerhouse expects to wrap up the acquisition in…

Tencent Shares Up 8% after Report of Online Ad Revenue Growth in Q4 2022

As a high-growth-oriented company, Tencent is charting a very ambitious path to grow its revenue over time. Chinese multinational tech giant Tencent Holdings Ltd (HKG: 0700) has released its fourth-quarter earnings report in which it showed a better-than-expected online ad revenue. According to the firm’s report, its overall revenue for the fourth quarter came in at 144.95 billion yuan ($21.07 billion), a figure higher than the 143.89 billion yuan estimated by FactSet. The online ad revenue was also very impressive, growing by 15% to 24.7 billion yuan, beating a FactSet…

Ethereum faces 6-month lows versus Bitcoin — Will ETH price rebound?

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Ethereum’s native token, Ether (ETH), continues its multi-month downtrend against Bitcoin (BTC) in March, rising 5.5% versus the latter’s 19.5% gains on a month-to-date (MTD) timeframe. Bitcoin overshadows Ethereum amid banking crisis As of March 23, the ETH/BTC pair was down about 9% month-to-date (MTD) to 0.0633 while staying on course to record its worst month since September 2022 when it fell 11.75%. ETH/BTC monthly price chart. Source: TradingView From a fundamental perspective, traders preferred Bitcoin over Ether, hoping it would protect them from the ongoing banking turmoil in the…

Kraken to suspend Plaid withdrawals and deposits via ACH Silvergate

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Major cryptocurrency exchange Kraken is experiencing difficulties with the withdrawal and deposit channel related to the automated clearing house (ACH) via Silvergate. Kraken has reportedly notified its users that it will be unable to support ACH deposits and withdrawals starting from March 27. According to multiple online reports by alleged Kraken users, Kraken sent an email notice with the announcement on March 22. In the statement, Kraken specified that users will no longer see a deposit option via Plaid or withdrawal option via ACH Silvergate beginning March 27. “No other…

Xapo Bank Integrates USDC Payment Rails

Asides from integrating a USDC payment rail, Xapo Bank recently partnered with Faster Payment System (FPS) to extend its global reach. Bitcoin custodian and privately licensed bank Xapo Bank is collaborating with Circle to use USDC payment rails as a SWIFT alternative. According to the bank, it has added rails to existing USDC onramps. Consequently, Xapo Bank customers can deposit and withdraw funds instantly using USDC. According to Xapo Bank CEO, Seamus Rocca, the new feature combines the speed and cost-efficiency of the digital dollar, with the security guarantees of…

Kraken to Halt ACH Deposits and Withdrawals on March 27, Here’s Why

Other services on the exchange remain as they were, and would not be affected by the upcoming change. Top cryptocurrency exchange Kraken has announced to its users that it will be suspending automated clearing house (ACH) deposits and withdrawals on March 27. According to a CoinDesk report, the decision stems from the recent collapse of its banking partner, Silvergate Bank. Expectedly, Silvergate’s March 8 collapse has impacted the abilities of users to perform bank transfers to and from the exchange. Additionally, Kraken has been unsuccessful in finding a new banking…

Nigeria’s eNaira Wallet Use, Transactions Climb Amid Cash Shortages: Bloomberg

Nigeria has been struggling with a crippling cash shortage since the central bank started replacing old naira notes with new ones late last year. Currency in circulation has slumped to about 1 trillion naira from 3.2 trillion naira in September, Emefiele said, according to Bloomberg. The shortage of notes has left many people in the country of about 218 million struggling to pay for basic needs. Source BloombergCashclimbENairaNigeriasShortagesTransactionsWallet CryptoX Portal

German Government Invests $1.2 Million in Metaverse Startup Flying Sheep Studios – Metaverse Bitcoin News

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The German government has allocated $1.2 million in funding for a metaverse game being developed by Flying Sheep Studios. The company, based in Cologne, will use the funds for the development of a game called Star Life, which will also include blockchain elements in the form of non-fungible tokens (NFTs). Flying Sheep Studios Raises $1.2 Million From the German Government Flying Sheep Studios, a Cologne-based metaverse startup, has recently announced that it raised $1.2 million from the German government. The funds raised will be used to develop an online metaverse…