Month: April 2023

Meta Faces Wide Criticism over Plans to Allow Minors into Metaverse

According to the advocates, Meta will expose teenagers and young adults to harassment and privacy violations. Social media giant Meta has received a huge backlash following its recent Metaverse announcement. While its metaverse app Horizon Worlds currently serves users of 18 years and above, the platform recently revealed plans to make room for users aged 13 to 17 as well. Advocacy Groups Raise Concerns Dozens of advocacy organizations and children’s safety groups are already kicking against Meta’s decision to allow minors access to its Metaverse app. Per a Bloomberg report,…

HashKey Group to Debut Regulated Exchange in Second Quarter

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Bitcoin rallying amid global economic turmoil 

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The bitcoin (BTC) and crypto rally comes amid the turmoil in the global banking sector, fueled by the collapse of Silicon Valley Bank (SVB) in the US. While regulators stepped in and guaranteed deposits, people are still concerned about the irregularities at the regional banks in the US and elsewhere. The bank runs Two of the most crypto-friendly banks, Silvergate Capital and Signature, collapsed in March, creating a frenzy in the crypto industry. In addition, the…

Crypto Lender Amber Group Considers Potential Sale of Japan Subsidiary amid Plans to Secure Hong Kong Trading License

Amber Group could sell its subsidiary in Japan to focus more on institutional rather than retail businesses. Leading global digital asset platform Amber Group is considering a possible sale of its Japan subsidiary amid other plans. The exchange liquidity provider and validator also seeks to apply for a license in Hong Kong. Amber Group’s Hong Kong agenda comes in light of the Chinese special administrative city’s pivot toward becoming a digital asset hub. Presently, evaluating the Amber Group Japan subsidiary and its operations is part of an overarching strategic decision.…

Ethereum-based Decentralized Exchange Uniswap Launches Mobile Wallet

Uniswap’s mobile wallet will allow users to swap funds on other popular DeFi platforms such as Arbiturm, Polygon, and Optimism.  Ethereum-based popular decentralized exchange (DEX) Uniswap has recently launched a mobile wallet application in a move to promote wider DeFi adoption, as well as support the on-the-go trading on the platform. As per the April 13 announcement, the app is currently available for iOS devices in a few select countries and can be found on the Apple App store. Last month, the Uniswap team complained that Apple was blocking the…

Crypto exchange Bitrue suffers $23M hack due to hot wallet eploit

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Bitrue cryptocurrency exchange has suffered a hot wallet exploit that allowed the attackers to withdraw various crypto assets worth nearly $23 million. Announcing the news on April 14, Bitrue said that it had to temporarily suspend all withdrawals due to a “brief exploit” of its hot wallet. The firm expects to reopen withdrawals on April 18, 2023 after conducting additional security checks. 3/4: To conduct additional security checks, Bitrue will temporarily suspend all withdrawals and will reopen withdrawals on 18 April 2023. We seek your understanding and patience at this…

Ethereum Breaches $2,100 Following Shapella Upgrade

Gemini co-founder Cameron Winklevoss commented on the upgrade, calling it “an incredible milestone” for Ethereum.  Ethereum has breached the $2,000 barrier on the heels of the Shapella upgrade, the first major network upgrade since 2022’s Merge. The second-largest cryptocurrency is currently trading at $2,114, up 6.71% on the day and 13.96% over 7 days, outperforming Bitcoin which is up 2% over the past 24 hours and is now changing hands at $30,839. The Shapella upgrade, a portmanteau of Shanghai and Capella, is the final part of the Ethereum blockchain’s transition…

What are cross-border payments, and how do they work?

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Ripple has become a significant player in the realm of blockchain-enabled global payments, while JPMorgan’s Onyx offers intriguing solutions for facilitating cross-border transactions through innovative digital asset payments. Using distributed ledger technology, Ripple enables financial institutions to send and receive money in different currencies in a matter of seconds, rather than the days or even weeks that traditional international payments can take. XRP, the native currency of Ripple, is the bridge asset to facilitate international financial transactions between different currencies. This means that the funds are converted into XRP and…

Ripple launches liquidity hub for businesses to bridge the crypto liquidity gap

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Fintech firm Ripple has launched its liquidity solution for businesses to bridge the gap between crypto and fiat. Ripple liquidity hub was launched on April 13 after a successful pilot last year. The service operates as a stand-alone solution in addition to Ripple’s popular cross-border payments service called on-demand liquidity (ODL). This makes it a global liquidity network offering its partners access to payout rails worldwide. The liquidity hub has been developed from an enterprise point of view to offer digital assets from various market makers, including crypto exchanges and over-the-counter…

Canon USA to Launch NFT Marketplace Cadabra

While information about Cadabra is still scant, there are indications it will offer initial drops of photo collections, mintable on the Ethereum chain. Canon USA has announced the upcoming launch of Cadabra, a new Ethereum NFT marketplace dedicated to photography NFTs. Canon USA previously filed a trademark application for the brand in 2022. Upon launch, the platform will offer photos in varying categories including sports, lifestyle, wildlife, and more Canon’s launch of a marketplace will not be its first foray into the NFT space. Previously, the global imaging giant collaborated…