Day: June 23, 2023

Rising institutional interest is a ‘bullish’ sign for crypto: SEBA Bank exec

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As more institutions go from only showing their interest in the crypto space into actually investing in Web3 projects, getting into crypto turns into a question of “when” rather than a question of “if” according to an executive from institution-focused crypto firm SEBA Bank.  At the World Token Summit, Cointelegraph spoke with chartered financial analyst Nasha Afshar, who works as a director at SEBA Bank. Afshar discussed topics like the institutional interest and adoption of crypto and trends that they’ve been noticing as of late. Cointelegraph reporter Ezra Reguerra with SEBA Bank’s…

Business Activity Growth Slows in Europe as Economy Suffers from High Interest Rates

There is a recorded plunge in business activity as Europe reels from rising inflation and a consistent increase in interest rates. Business activity in Europe is waning as the region suffers slow economic growth. Recent data shows that the euro zone’s flash composite Purchasing Managers’ Index (PMI) fell from 52.8 in May, to 50.3 in June. Although analysts had predicted 52.5, any score above 50 represents growth, while scores less than 50 points to shrinkage. In a conversation with CNBC’s Street Signs Europe, S&P Global Market Intelligence’s chief business economist,…

JPMorgan Introduces Euro-Dominated Transaction Settlement for Corporate Clients

Now, wholesale payment clients including renowned multinationals can choose to transfer either dollar or euro to/from their JPMorgan accounts anywhere in the world.  American multinational investment bank JPMorgan Chase & Co (NYSE: JPM) has introduced euro-dominated payments for its corporate clients as unveiled by Basak Toprak, JPMorgan’s head of Coin Systems for Europe, the Middle East and Africa. This was delivered as part of the investment giant’s plan to expand one of the most high-profile projects to bring blockchain technology to traditional banking through JPM Coin. Four years ago, JPMorgan…

More than just a ‘token’ bridge – Cointelegraph Magazine

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This “Crypto City” guide looks at Sydney’s crypto culture, the city’s most notable projects and people, its financial infrastructure, what retailers accept crypto and where you can find blockchain education courses — along with a history of its crypto controversies. Jump to: Crypto culture, Projects and companies, Financial infrastructure, Where can I spend crypto? Controversies and collapses, Education, Notable figures. Fast facts City: SydneyCountry: AustraliaPopulation: 5.2 millionEstablished: 1788 Sydney is Australia’s first, oldest and second-most populous city (just), world-famous for its harbor views and iconic landmarks, such as the Opera…

Honk if you love Bitcoin! Lightning takes the wheel of a European rally car adventure

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A Bitcoin-mobile (BTC) piloted by the “Bitcoin Ambassadors” team is competing in the 8,000-kilometer Baltic Sea Circle Rally race, orange-pilling competitors and campsites along the way.  The car is adorned and sponsored by Bitcoin companies. Source: Cercatrova Two Bitcoin advocates, Cercatrova, the democratically elected president of German-speaking Bitcoin community Einundzwanzig, and his copilot Daktari, set off on the orange-pilling adventure this week, attempting to pass through 9 Northern European countries in their Bitcoin-branded car. Speaking to Cointelegraph from somewhere above the Arctic Circle, Cercatrova explained: “The whole rally is a…

SAP Clients Testing Cross-Border Payments with Circle’s USDC

Customers will receive a designated amount of USDC along with an invoice, enabling them to experience the benefits of fast, affordable, and reliable cross-border payments. In a significant move towards revolutionizing cross-border payments, German software giant SAP SE (ETR: SAP) has made an exciting announcement in this sphere. In a blog post, the company revealed its collaboration with Circle, a leading digital currency firm, to test the use of its stablecoin, USD Coin (USDC) as a means of facilitating international transactions. For businesses engaged in international trade, cross-border payments have…

Crypto scammers and the need for tools to prevent theft: World Token Summit

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Digital fraud is a huge problem in social media. Each day, scammers create new accounts mimicking popular content creators, and attempt to get fans and other unsuspecting victims to send them money. To solve the problem, some turned to the blockchain to try to create and implement a decentralized social identity verification system.  At the recent World Token Summit 2023, Cointelegraph spoke to Matthias Mende, the co-founder of the Dubai Blockchain Center and a speaker at the event. During his speech, Mende talked about one of the center’s projects implementing…

Bitcoin mining heats water in Brooklyn Bathhouse, users flip out

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A bathhouse in Brooklyn, New York, has left users on Instagram and Twitter divided after it revealed that it is using Bitcoin (BTC) mining rigs to heat its spa. In a June 21 Instagram post, Bathhouse explained it is running Bitcoin mining rigs at its location in Brooklyn, which generates heat as a byproduct. In the post, it described in three steps how the heat is taken by heat exchangers and used to heat the venue’s pools via a circulating system. Bitcoin mining is the process of creating valid blocks that…

K5 Global Sued to Court by FTX, May Pay $700 Million

The suit was filed at the United States Bankruptcy Court for the District of Delaware. Bankrupt FTX exchange has filed a lawsuit against K5 Global – an investment firm owned by a former aide to Hillary Clinton. According to a Reuters report, the suit was filed at the United States Bankruptcy Court for the District of Delaware. It contains 16 counts against the defendants and seeks to recover about $700 million from them. According to the filing, the defendants include K5 Global, Mount Olympus Capital, SGN Albany Capital, their affiliates,…