Month: June 2023

Australian Bank Implements Measures Against Cryptocurrency Scams: Commonwealth Bank’s New Restrictions

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In an effort to safeguard its customers from potential scams and financial losses associated with cryptocurrency transactions, Commonwealth Bank (CBA) of Australia has announced the implementation of partial restrictions on payments to cryptocurrency exchanges. The bank revealed its decision on Thursday, stating that it would either decline specific payments to crypto exchanges or subject them to a 24-hour hold, although the hold duration could vary. Moreover, Commonwealth Bank intends to introduce a monthly payment limit of 10,000 Australian dollars ($6,700) for transactions to cryptocurrency exchanges in the coming months. These…

Grill.chat developing blockchain-based social media with EVM wallet integration

Grill.chat, the Subsocial network-based chat app, enhances its appeal by integrating ethereum virtual machine (EVM) wallet compatibility, bridging the gap between traditional wallet users and those ready to embrace blockchain-based social media platforms. Grill.chat, a chat application based on the Subsocial network, has recently implemented Ethereum Virtual Machine (EVM) wallet compatibility, permitting users to communicate using their Ethereum identities while simultaneously transferring cryptocurrency via Polygon. Subsocial is a Polkadot parachain specially designed to suit social media applications. This recent integration allows users to connect their Subsocial wallets to their EVM…

Binance.US suspends USD deposits, warns of fiat withdrawal pause

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Binance.US has announced the suspension of U.S. dollar deposits and has notified its customers of an incoming pause to fiat (USD) withdrawal channels as early as June 13. On June 9, Binance.US announced that it was forced to take action amid “extremely aggressive and intimidating tactics” from the United States Securities and Exchange Commission. The firm noted that, in an effort to protect its customers and platform, it is suspending USD deposits. Furthermore, Binance.US is “notifying customers that our banking partners are preparing to pause fiat (USD) withdrawal channels as…

Pro-Bitcoin DeSantis tagged over AI-faked photos in Trump smear campaign

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Pro-Bitcoin (BTC) presidential bidder Ron DeSantis has been tagged for apparently using artificial intelligence-generated images in an ad campaign smearing rival and former president Donald Trump. It comes amid a rise in AI-generated deep fakes being used in political ads and movements in recent months. On June 5, DeSantis’ campaign tweeted a video purporting to show Trump’s close support of Anthony Fauci, the chief medical advisor to Trump when he was president of the United States. Fauci is a contentious figure in GOP circles for, among other reasons, his handling…

Vitalik Buterin and Polygon co-founder to help send $100M toward COVID-19 research

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Ethereum co-founder Vitalik Buterin is working with India-based crypto fund Crypto Relief and Polygon co founder Sandeep Nailwal to send $100 million towards COVID-19 research and medical infrastructure development in India. Buterin and Nailwal will receive $90 million in USD Coin (USDC) from Crypto Relief, while Buterin will provide $10 million out of his own pocket to further the cause. The two will then help distribute the funds.  According to a January 2022 Twitter post from Nailwal, Crypto Relief will transfer the funds to Buterin in order for the India-based…

Binance.US clarifies CoinDesk claim about user funds and platform security

In a recent CryptoX article, the Securities and Exchange Commission (SEC) alleged that Binance CEO Changpeng “CZ” Zhao received billions of dollars in customer funds through their holding company. In response, CZ expressed uncertainty about the accuracy of the allegations. Journalistic uncertainty In a June 8 article from CryptoX, the Securities and Exchange Commission (SEC) alleged that Binance CEO Changpeng ‘CZ’ Zhao and Guangying ‘Helina’ Chen received billions of dollars in customer funds through their holding company.  According to the SEC, the funds were transferred to firms controlled by Zhao…

Coinbase chief legal officer faces congressional committee following SEC charges against the company

Coinbase Chief Legal Officer, Paul Grewal, wasted no time addressing concerns related to his employer’s recent charges by the Securities and Exchange Commission (SEC). Just hours after the SEC’s allegations of securities law violations against Coinbase, Grewal appeared before the House Agriculture Committee to field questions about cryptocurrency market regulations. Intense scrutiny On June 6, committee members gathered to engage in a session of rigorous questioning, with Grewal being part of a five-witness panel that included other industry representatives and former regulators. Earlier in the day, lawmakers had already subjected…

Crypto custodian BitGo signals intent to acquire Prime Trust

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Wallet infrastructure provider and digital asset custodian BitGo have signed a non-binding letter of intent to acquire fintech infrastructure provider Prime Trust, according to an announcement on June 8.  The terms of the agreement were not disclosed. If the deal goes through, BitGo will acquire Prime Trust’s payment rails and cryptocurrency IRA fund and increase its wealth management offerings. Prime Trust’s Nevada Trust Company will also join BitGo’s network of regulated trust companies in South Dakota, New York, Germany, and Switzerland. Prime Trust’s API infrastructure and exchange network will “map over 1:1”…

Mizar review: impact on automated trading

Thanks to cryptocurrencies, smart contracts and smart trading, traders can gain access to a multi-billion dollar industry and even profit from trading cryptocurrencies. This review aims to provide a comprehensive understanding of the Mizar trading platform, highlighting its capabilities in facilitating trade execution and position management across multiple connected exchanges from a centralized interface. It will also explore additional features such as DCA bots, copy trading, and smart trading available on the platform. What Is Mizar? Mizar is a platform that simplifies crypto trading and makes it accessible to all…