Month: April 2023

Alibaba Slashes Cloud Prices by Half to Foster Growth Ahead of Possible IPO

Chinese tech giant Alibaba will cut the prices of its cloud services by up to 50% starting today as it hopes to grow the sector. Alibaba Group (NYSE: BABA) recently announced cutting its cloud prices by 50% to spur business growth. The Chinese tech giant seeks to carve out a bigger share of its local cloud market amid increasing competition. By drastically reducing the prices of cloud-based products and services, Alibaba hopes to better compete with the likes of Tencent. Reports state the price cuts will kick into effect today as Alibaba…

Bitget Becomes The First To Support Liquid Staking Derivatives As Collateral For Futures – Press release Bitcoin News

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press release PRESS RELEASE. Victoria, Seychelles, April 26th, 2023 — Bitget, top crypto derivatives and copy trading platform, has announced the addition of Liquid Staking Derivatives (LSDs) as a margin option for Bitget Coin-margined Futures, making it the first centralized exchange to provide such products on the market. This new feature will allow traders to continue earning staking rewards while also utilizing their staked assets for trading purposes. Bitget Coin-margined Futures is a unique product designed for crypto-enthusiasts, supporting multiple currencies as a margin for various futures trading pairs. With…

Financial Technology Provider TTS Imagine to Bolster Crypto Trading Through Deutsche Boerse Unit

“As more sophisticated investors and their teams continue to seek exposure to cryptocurrencies, we are proud to offer a deep, liquid connection network to this exciting and emerging asset class,” TS Imagine’s head of digital assets, Alexandre Carteau, said in the statement. “Adding Crypto Finance as a regulated crypto destination for our clients demonstrates our commitment to meeting the evolving needs of our institutional clients.” Source

DeFi Protocol iZUMi Finance Raises $22M

The fundraising round was more complicated than a typical “cash in, equity out” arrangement. The company issued an iZUMi zk-Fund through strategic partner Solv Protocol that is a semi-fungible token, or SFT. Investors who purchase the fund receive an SFT in their wallet to represent their share, making them a limited partner of the fund. Upon maturity, investors can redeem the SFT for their principal. Source

Raiffeisenlandesbank to offer crypto investment services

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Raiffeisenlandesbank Niederösterreich-Wien (RLB NÖ-Wien), an Austrian cooperative banking company founded in 1900, is preparing to launch crypto investment services in collaboration with the Austrian crypto firm Bitpanda. According to a joint announcement on April 26, RLB NÖ-Wien plans to provide its customers with a broad range of cryptocurrencies through Bitpanda’s Software as a service (SaaS) offering. Crypto investment will be featured alongside investment services for stocks, exchange-traded funds, precious metals and commodities. “The deal with Bitpanda aims to expand our product range with an innovative, secure facet and enable all customers…

ECB’s Panetta Reinforces Digital Euro Focus on Payments – News Bitcoin News

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Fabio Panetta, a member of the executive board of the European Central Bank (ECB), announced the digital euro project was entering its final phase. Before the committee on economic and monetary affairs of the European Parliament, Panetta stated that the digital euro, if approved, would be focused on making payments easier for Europeans. ECB’s Panetta Explains Digital Euro Payment Focus Fabio Panetta, a member of the executive board of the European Central Bank, announced that the digital euro project, an initiative that seeks to digitize Europe’s fiat currency, was reaching…