Month: May 2023

Paxful announces new interim CEO

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Peer-to-peer (P2P) trading platform Paxful has appointed a new interim CEO to lead the company three weeks after resuming its marketplace.  In a Medium blog post, Paxful announced the appointment of Roshan Dharia as the company’s new interim CEO. Dharia, whose appointment immediately took effect, has been tasked with “strengthening operations and exploring strategic alternatives.” Following the announcement, Paxful users on Twitter asked the new CEO to unfreeze customer funds. Paxful recently resumed its marketplace after…

Tenet Partners with LayerZero to Increase Omnichain LSD Adoption

As these two significant platforms combine their experience and resources, they have the potential to set new standards for decentralized banking and uncover a plethora of opportunities for developers and consumers alike. Tenet, a functional layer-1 blockchain network built on the Cosmos SDK, has recently forged a groundbreaking partnership with LayerZero, an Omnichain interoperability protocol. As contained in a press release shared with Coinspeaker, the partnership that is valued at over $3 billion is focused on developing the use cases of Liquid Staking Derivatives (LSD). One of the key advantages…

Tesla (TSLA) Shares Gain 4% as Elon Musk Pushes to Repair US and China Foreign Relations

Tesla is already constructing a mega factory in Shanghai to ramp up energy storage for its current and upcoming models including the Cybertruck. Tesla Inc (NASDAQ: TSLA) shares spiked on Tuesday to close the day trading at $201.16, up 4.14 percent from the day’s opening price. As a result, Tesla stock turned more bullish from last year’s bearish sentiment after a report that tech billionaire Elon Musk met with Foreign Minister of China Qin Gang on Tuesday to discuss business expansion. According to Qin, China is ready to work with…

XDC Network gets Japanese foothold via partnership with SBI subsidiary

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The enterprise hybrid blockchain solution, XDC Network — formerly known as XinFin — has broadened its presence in the Japanese market through a partnership with SBI VC Trade, a cryptocurrency exchange subsidiary of Tokyo-based financial holding company SBI.  On May 31, the XDC Network announced that it would be added to SBI’s crypto exchange subsidiary. The exchange’s CEO, Fumiki Ozaki, confirmed the news: “We are delighted to expand our cryptocurrency offerings by adding XDC to our exchange. XDC Network brings a unique value proposition to the trade finance market, and…

Top Japanese Airline ANA Forays Deeper into Web 3.0 with NFT Marketplace Launch

ANA began developing its new GranWhale platform almost a year ago. Japan’s largest airline All Nippon Airways (ANA) has launched a non-fungible token (NFT) marketplace, making a bold statement about its web3.0 ambitions. According to the May 30 announcement, the “ANA GranWhale NFT Marketplace”, is a project involving the airline and its subsidiary ANA Neo. It is themed around aviation and features a collection created by aerial photographer Luke Ozawa as its initial collection. Developers claim that Ozawa’s first digital photo will be converted to NFT on May 30, with…

Binance Might Allow Crypto Traders and Investors to Hold Collateral in Bank

Sources said that Binance is working on a setup that will allow them to keep bank deposits as collateral for margin trading in spot and derivatives. The latest report from Bloomberg shows that the crypto exchange Binance is exploring a new solution to reduce counterparty risks while allowing some of the institutional clients to keep trading collateral at a bank instead of a crypto platform. Sources familiar with the matter noted that Binance spoke to some of its professional customers regarding a setup that will allow them to keep bank…

El Salvador enlists ‘The Bitcoin Standard’ author to aid in economic strategy

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The national bitcoin office of El Salvador recently appointed Dr. Saifedean Ammous, the renowned author of “The Bitcoin Standard”, to provide consultancy on economic policies. Dr. Ammous’ book “The Bitcoin Standard: The Decentralized Alternative to Central Banking” was published in April 2018. It traces the evolution of money throughout history, delving into the transition from stable value storage to the emergence of inflated assets and fiat currencies. It shows how monetary policies across diverse cultures have…

Indian banks asked ‘to prepare for the future’ with AI and blockchain

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A top federal official representing India’s central bank, the Reserve Bank of India (RBI), recommended all banks adopt artificial intelligence (AI) and blockchain technology to ensure sustainable growth and stability. In an RBI-organized conference for the directors of Indian banks, deputy governor Mahesh Kumar Jain discussed risk strategies around sustainable growth and stability. Governance in Banks: Driving Sustainable Growth and Stability – Speech delivered by Shri M K Jain, Deputy Governor, Reserve Bank of India at the Conference of Directors of Banks organised by the RBIhttps://t.co/Ft4Kv68X0T — ReserveBankOfIndia (@RBI) May…

KuCoin allegedly burned millions in ETH in 2022

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied A substantial amount of ethereum (ETH), valued at tens of millions of dollars, was sent to the ethereum burn address in a series of unusual transactions conducted by Kucoin in 2021. Conor Grogan, head of product at Coinbase, discussed the transactions with 23,000 of his followers on Twitter. Thousands of Kucoin deposit addresses sent $10s of millions of dollars of ETH to the Ethereum burn address This was back in September ’21- I don’t think anyone ever…