Day: April 8, 2023

Binance US Struggles to Secure Banking Partner Amid Regulatory Crackdown on Crypto Industry – Bitcoin News

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Following the collapse of Silvergate Bank, Silicon Valley Bank, and Signature Bank, cryptocurrency companies have been seeking new banking partners in the United States. According to a recent report citing “sources familiar with the matter,” Binance US, the American subsidiary of the cryptocurrency exchange, is having difficulty finding a U.S. banking partner. Unnamed Sources Say Binance Has Unsuccessfully Sought to Establish U.S. Banking Partners The Wall Street Journal (WSJ) reported on Saturday that Binance US is experiencing difficulty in finding a U.S. banking partner. Currently, Binance US customers have been…

Bitcoin white paper hidden on macOS, Binance and DOGE news…

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Top Stories This Week Bitcoin white paper is apparently hiding in Apple’s modern macOS Satoshi Nakamoto’s original white paper laying out the thesis for the Bitcoin network is seemingly hiding within every modern version of the operating system for Apple’s Mac computers. An April 5 blog post from technologist Andy Baio revealed that a PDF of the Bitcoin white paper has “apparently shipped with every copy of macOS since Mojave in 2018.” Baio told Cointelegraph he was trying to fix his printer and scan a document when Nakamoto’s white paper…

Bill protecting Bitcoin mining rights passes in Arkansas Senate and House

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A bill seeking to regulate Bitcoin mining activity in the State of Arkansas has passed in both the House of Representatives and Senate, moving now to the governor’s office for approval. According to the bill, the Arkansas Data Centers Act of 2023 intends to regulate the Bitcoin mining industry in the American state, creating guidelines for miners and protecting them from discriminatory regulations and taxes. Arkansas’ state legislators quickly passed the bill after it was proposed on March 30 by Senator Joshua Bryant, shows the act’s status page. The document…

Behind Bitcoin Marketplace Paxful’s Unraveling

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“Paxful’s employees quickly realized that these purported ‘auditors’ were merely Schaback’s friends who did not possess any qualifications and could not possibly bring any value to the company,” the filing reads. “After a company party, for example, the head ‘auditor’ became too intoxicated to control himself and admitted as much to several Paxful employees, stating, ‘guys, don’t worry, we are here just to make some money from Paxful, and after that, we are gone.’” Original

Polygon Emerges as Second-Largest Blockchain Gaming Network

Polygon has emerged as the second-largest blockchain gaming network in terms of unique active wallets (UAWs), thanks to a surge in user activity in March. According to the “Blockchain Games Report” by DappRadar, the number of UAWs engaging with games on Polygon hit 138,081 in March, a 53% increase from February. This places Polygon ahead of third and fourth-ranked Hive and BNB Chain, with 84,000 and 80,000 UAWs respectively. The first-placed Wax is well ahead of the pack with 314,000 UAWs. Polygon, previously known for DeFi DApps, has now gained…

Texas Lawmakers Introduce Bill Proposing to Establish a Gold-Backed Digital Currency – Bitcoin News

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Two Republican lawmakers from Texas, senator Bryan Hughes and representative Mark Dorazio, have introduced legislation to create a gold-backed digital currency that could be enacted by the state legislature. The policymakers believe that this currency could greatly benefit the Lone Star State and, as an alternative digital currency, it could provide Texas residents with the ability to circumvent a central bank digital currency (CBDC). S.B. No. 2334 Introduces the Establishment of a Digital Currency Backed by Gold in Texas In recent times, U.S. lawmakers have been discussing the reimposition of…

Sphere 3D files lawsuit against Gryphon Digital Mining after BTC transfer

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Crypto miner Sphere 3D has filed a lawsuit against its partner Gryphon Digital Mining after an allegedly spoofing attack led to the irregular transfer of Bitcoin (BTC), according to court documents on April 7.  “Today we filed litigation against Gryphon, the custodial management services provider of our blockchain and cryptocurrency-related services, for materially breaching the Master Services Agreement (“MSA”) we entered into with Gryphon,” said Patricia Trompeter, CEO Sphere 3D in a statement for investors, adding that “Gryphon has put the Company’s assets at significant risk and willfully violated their…

Saudi Arabia Strengthens Bond With China by Joining SCO Bloc as Dialogue Partner – Economics Bitcoin News

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China’s relationship with Saudi Arabia is growing as the country’s Cabinet has agreed to join the Shanghai Cooperation Organization (SCO). The diplomatic move made by the kingdom began with a memorandum of understanding in September, and at the end of March, Saudi Arabia’s Cabinet approved the decision to become a dialogue partner. The Cabinet’s decision followed Saudi Arabia’s resumption of its relationship with Iran in a deal brokered by China. Riyadh Joins China’s SCO; Kingdom Ends 7-Year Breakup With Iran China, a member of the BRICS bloc, has been strengthening…

RenQ Finance Presale Smashes Expectations, Raising in Total Over $5M and $200K in the Last 24 Hours – Press release Bitcoin News

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press release PRESS RELEASE. RenQ Finance has recently announced the launch of the fourth stage of its fundraising plan on its official website, following the successful completion of stage 3. The project has already raised a total of $5 million in a short period of time since its launch. The latest update reveals that the Stage 4 fundraising has reached an impressive milestone, with $5M raised in total, of which already $200K in the last 24 hours. This presale event is part of an 8-stage fundraising plan to raise close…

Binance.US unable to find bank partners in the United States: Report

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The United States arm of global crypto exchange Binance has been facing challenges in establishing a new bank partner to serve as a fiat on-ramp and off-ramps for its clients in the country, according to a Wall Street Journal report on April 8.  The recent failures of Silvergate and Signature Bank left Binance.US without banking services, depending on middleman’s banks to store funds on its behalf, according to the WSJ, citing “people familiar with the matter”. The regulatory crackdown on banks with crypto clients is also another factor contributing to…