Day: May 26, 2023

Gemini to Set Up Its Base in Europe, Headquarters to Be Opened in Dublin

Gemini also plans to expand its workforce after the EU adopted the new Markets in Crypto-Assets Regulations (MiCA), which were formally approved on May 16. Cryptocurrency firm Gemini has revealed that Dublin, Ireland, will be the home of its new European headquarters. On May 25, Tyler and Cameron Winklevoss, owners of the crypto firm, told reporters that the established technology and innovation community, a strong regulatory landscape, and a huge talent pool were all factors that influenced their decision to choose Dublin. The latest move has been dubbed as one…

Bank of Brazil Includes 14 Participants in Its CBDC Pilot

The Brazil Central Bank Digital Currency will initially focus on wholesale interbank transaction payment solutions. Banco Central do Brasil (the Central Bank of Brazil) plans to include more participants in its digital currency scheme. The list, released by the bank on May 24, includes the names of all the participants with whom the CBDC digital real is set to launch. The final list of 14 participants was compiled from 36 bids submitted by individuals and collaborating entities, totaling more than 100 institutions. Brazil Digital Real Pilot Will Begin with 14…

From memes to multibillion-dollar pumps, scams and rug pulls

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Memecoins, or meme cryptocurrencies, started as a cultural phenomenon with the launch of Dogecoin (DOGE) in 2013, inspired by an internet meme and a critique of the wild crypto market at the time.  Dogecoin was developed by software developers Billy Markus and Jackson Palmer as a joke to mock what many saw as an irrational investment hype surrounding cryptocurrencies. Memecoins started as a form of social token. They were often created and promoted by online communities or individuals with a shared interest or sense of humor. The social element of…

Why crypto marketing fails to live up to hype

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As we appear to be entering a new phase in crypto’s notorious market cycles, excitement is once again growing at the prospect of rising investment and deeper liquidity. However, in order for the market to come back stronger, lessons must be learned from what happened before. The collapses of 2022 continue to be analyzed by TV stations, newspapers, magazines, blogs and social media. But among the extensive analyses, one key lesson has been missed.  Crypto has a branding problem As is good practice in growing businesses, FTX spent 15% of…

Binance Japan Representative Says Stablecoins Are ‘the Glue’ Between the Real Economy and Blockchain

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Gemini chooses Ireland as its hub amid US crypto turbulence

Crypto exchange Gemini has revealed its strategic decision to set sail from the stormy seas of US regulation to the promising shores of Dublin, Ireland, establishing its European base. The Winklevoss twins, founders of the exchange, view this move as a tactical response to the shifting currents of regulatory oversight and a leveraged opportunity to tap into Ireland’s vast reservoir of tech talent and robust regulatory framework. Gemini’s choice of Dublin for its European headquarters comes when regulatory pressure is mounting in the US, prompting an exodus of crypto firms…

Digital Currency Group (DCG) to Close Down Its Prime Brokerage Subsidiary TradeBlock

TradeBlock will officially begin the process of shutting down on May 31. Digital Currency Group (DCG), a New York-based venture capital firm that invests and provides services to crypto companies is winding down its TradeBlock subsidiary. According to a May 25 report from Bloomberg, the company, headed by Breanne Madigan, who previously worked at Goldman Sachs for 15 years, will begin the shutdown of the platform by the end of the month, specifically on May 31. TradeBlock, dedicated to providing trade execution and prime brokerage services to only institutional investors,…

Nvidia Set to Join Apple, Microsoft, Amazon in the Trillion-Dollar Market Cap Group

Due to a favorable forecast and AI adoption, Nvidia has seen explosive growth and could soon hit the trillion-dollar market cap. Nvidia Corporation (NASDAQ: NVDA) is fast approaching the trillion-dollar market cap due to its explosive stock surge. On Thursday, the chip maker’s shares jumped 26% following a robust earnings outlook and increased production scale. Nvidia’s market valuation sits at $950 billion, which is almost $200 million higher than it was at Wednesday’s close. The Santa Clara-based software and fabless company’s market capitalization is now twice as large as its…

Hardware Wallet Provider Trezor Sees 900% Jump in Sales amid Ledger Controversy

The controversy surrounding Ledger’s key-recovery service has boosted sales for its competitor Trezor. Besides, Trezor also addressed concerns over security and develops an auditable secure element through its sister company Tropic Square. The controversy surrounding Ledger’s recently released key-recovery service has ultimately benefitted hardware wallet competitor Trezor. Hardware wallet manufacturer Trezor recently reported a 900% surge in week-on-week sales. Recently, Ledger introduced the Ledger Recover service enabling users to securely store encrypted backups of their seed phrases through three custodians. This service allows users to restore their private keys in…

Binance and Gulf Innova to launch crypto exchange in Thailand in Q4 2023

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Cryptocurrency exchange Binance continues expanding its global reach by securing new regulatory approvals in Thailand. Gulf Binance — a joint crypto venture of Binance and Gulf Energy’s innovation arm Gulf Innova — has received digital asset operator licenses from Thailand’s Ministry of Finance. The licenses enable the firm to operate a crypto exchange regulated by the country’s Securities and Exchange Commission. Announcing the news on May 26, Binance said Gulf Binance is set to launch a new digital asset exchange in Thailand by Q4 2023. The new crypto venture will…