Day: May 9, 2023

Revolutionary Blockchain Partnership Announced By Microsoft, Goldman Sachs

Blockchain technology is the focus of a new partnership between Microsoft Corp, Goldman Sachs Group, Cboe Global Markets, and Deloitte. Their main objective is to develop a blockchain infrastructure that can connect institutional applications and encourage wider adoption of distributed ledger technology in financial markets. According to a press release from May 9, the Canton Network will be an interoperable blockchain with privacy features designed for the institutional asset management industry. It will make it possible to synchronize different financial markets that were “previously siloed.” Bloomberg calls the new venture…

PayPal’s crypto holdings increased by 56% in Q1 2023 to nearly $1B

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Financial technology company PayPal recently disclosed its cryptocurrency holdings in a quarterly report filing to the Securities and Exchange Commision (SEC).  Claiming a combined total of $943 million in cryptocurrency assets as of March 31, 2023, the filing shows a 56% increase over the company’s previous quarter where PayPal disclosed $604 million. PayPal’s reported total financial liabilities for this quarter were $1.2 billion, with crypto assets making up 77.9% — up more than 10% from 2022’s reported fourth quarter liabilities. Related: PayPal crypto partner Paxos raises $300M According to the report, PayPal…

The Impact of Cryptocurrency in Charitable Giving

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In addition to upending established banking structures, cryptocurrency has also transformed philanthropic giving and philanthropy. The use of digital currencies for charitable purposes has increased as they become more widely accepted. This article examines the expanding practice of using cryptocurrencies for charity purposes and demonstrates their profound influence on charitable donations. For people and organizations, cryptocurrency opens up a new channel for charitable contributions. Cryptocurrencies promote transparency, security, and efficiency in donations by utilizing blockchain technology. Philanthropists may help charities all around the world thanks to this decentralized and borderless…

Scaling Challenges Trigger Intense Debate as Mempool Overflows – Bitcoin News

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This week, the Bitcoin community has been abuzz with discussions about the network’s scaling challenges. As the blockchain’s transfer fees continue to surge, the backlog of transactions stuck in the mempool has hit an unprecedented high. Crypto enthusiasts have been sharing their diverse perspectives on the matter, leading to a flurry of takes across various social media platforms. Bitcoin’s Scaling Challenges Spark Controversy and Diverse Perspectives The recent surge in Ordinals and BRC20 token usage has led to a significant increase in onchain activity, causing the mempool to overflow with…

Hong Kong Warns Crypto Businesses Not to Expect Special Treatment as City Readies Regulation

A high-ranking Hong Kong official has warned crypto exchanges to expect strict regulation and advises those in opposition to go elsewhere.  Hong Kong has stated that its upcoming crypto regulation would not promote a light-touch approach despite the city’s crypto-friendly disposition. The Chinese special administrative region is putting the finishing touches to digital asset licensing rules as it seeks to become a global crypto hub. Speaking at Tuesday’s Bloomberg Wealth Asia Summit, Hong Kong Monetary Authority CEO Eddie Yue Wai-man warned: “Our regulations will be tight.” Yue added that crypto…

Crypto Media Company Blockworks Raises $12M at $135M Valuation

“For the past year, we’ve been building Blockworks Research, a powerful investment platform that brings together data, analytics, research, governance, and real-time news,” Blockworks co-founders Jason Yanowitz and Michael Ippolito wrote in an announcement post. “Financial institutions and deeply crypto-native investors rely on Blockworks Research to make better decisions. This investment allows us to double-down on this effort to bring better information to the industry.” Source

Tether (USDT) Emerges as Prefered Stablecoin amid US Banking Crisis with Over $86B in Total Supply

The stablecoins market is expected to significantly grow amid the mainstream adoption of Bitcoin and other digital assets globally. The rise of the Tether (USDT) stablecoin has been undisputed for several years. The Tether (USDT) stablecoin runs on more than 10 blockchains including Ethereum, Binance Smart Chain, Polygon, and Tron, among others. On the Ethereum network, Tether (USDT) has more than $36 billion in supply with about 4.3 million holders. The Tron network holds a vast amount of Tether (USDT) with about $46 billion. On the Solana blockchain, Tether (USDT)…

12 factors VCs should focus on when vetting crypto and blockchain companies

Venture capitalists may be wary of the crypto and blockchain industry at the moment, and it’s not without reason. However, the highly publicized bad actions of a few shouldn’t keep VCs from spotting the real potential that well-run businesses in the sector can offer. As with investments in any industry, conducting thorough research and asking smart questions can help VCs ensure they’re backing reputable companies poised to make a positive (and profitable) impact in the market. Here, 12 members of Cointelegraph Innovation Circle share tips for a VC who’s considering…

Binance Unveils Plans to List Bitcoin Ordinals on Its NFT Marketplace

Binance has been aggressively growing its NFT marketplace in a variety of ways in order to become a top platform for buying, selling, and trading NFTs. Binance, the world’s largest crypto exchange has expressed interest in adding Bitcoin Ordinals to its Non-Fungible Token (NFT) marketplace by the end of May. According to the announcement, Binance will also offer royalty support and additional revenue-generating opportunities for Bitcoin NFT creators. Bitcoin Ordinals are becoming popular and unique in the NFT ecosystem thus fueling the push by Binance to add it to its…