Month: June 2023

Bitcoin Ordinals rolls out upgrade to rectify ‘Cursed Inscriptions’ issue

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Developers behind the Bitcoin Ordinals protocol have rolled out a new upgrade that aims to cure over 71,000 invalid or “cursed” inscriptions — allowing them to be traded. “Cursed inscriptions” was the name given to inscriptions that were created by incorrect use or intentional misuse of opcodes to create inscriptions, which led to them becoming invalid and unrecognized. On June 4, developers, including Twitter user Raphjaph, revealed the Ordinals protocol was upgraded to version 0.6.0, which would be the first step in indexing the previously unrecognized inscriptions. Just released a…

JPMorgan Collaborates with Indian Banks to Launch Blockchain-Based Dollar Settlement System, Reported Bloomberg

JPMorgan Chase & Co., the American multinational investment bank, has formed an alliance with six Indian banks to inaugurate a blockchain-based platform that will handle interbank dollar transactions within India’s emerging International Financial Centre. This development, initially reported by Bloomberg, showcases the evolving landscape of financial technology (fintech) in India. Kaustubh Kulkarni, JPMorgan’s Senior Officer in charge of Indian operations and Vice Chairman for the Asia-Pacific region, indicated that the project would enter a pilot phase in the upcoming months. This period is crucial for gauging the experience and adaptability…

Brazil’s Largest Crypto Exchange Gains Payments License

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Mercado Bitcoin, the largest cryptocurrency exchange in Brazil, received a payment institution license from the country’s central bank late last week, local media Valor Economico reported. It will enable the crypto exchange to operate as a payment institution under the status of an electronic money issuer. Under the new license, the Brazilian crypto exchange will enhance its fintech offerings under MB Pay. It can provide Brazilian users with digital banking services using held crypto assets, including digital fixed-income investments, staking, and other financial transactions. Additionally, the exchange is planning to…

Crypto lobbyists still fighting to axe ‘unlawful’ Tornado Cash sanctions

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The Blockchain Association and the DeFi Education Fund have become the latest industry advocates to file their support of Coin Center’s lawsuit against the United States Treasury over its “unlawful” sanctions against Tornado Cash. On June 2, the two cryptocurrency industry advocacy groups filed a joint amicus brief in support of Coin Center, arguing that the U.S. sanctions against the crypto mixer should be dropped. 1/ Today, my colleagues and I at @BlockchainAssn and our partners at @fund_defi filed an amicus brief in support of @coincenter‘s lawsuit against OFAC fighting…

Crypto lobbyists still fighting to axe ‘unlawful’ Tornado Cash sanctions

The Blockchain Association and the DeFi Education Fund have become the latest industry advocates to file their support of Coin Center’s lawsuit against the United States Treasury over its “unlawful” sanctions aga Tornado Cash. On June 2, the two cryptocurrency industry advocacy groups filed a joint amicus brief in support of Coin Center, arguing that the U.S. sanctions against the crypto mixer Tornado Cash should be dropped. 1/ Today, my colleagues and I at @BlockchainAssn and our partners at @fund_defi filed an amicus brief in support of @coincenter‘s lawsuit against…

Google searches for ‘crypto’ fall to 2020 levels as BTC sentiment neutral

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A two-month-long lull in cryptocurrency optimism has seen online search interest for “crypto” and other common cryptocurrency terms stumble down to late 2020 levels. According to data from Google Trends, the term “crypto” currently has a score of 17, which is well off its reference point of 100 in May 2021. Bitcoin (BTC) and Ethereum have followed a similar downward trajectory. However, search interest for these terms has been in a relatively consistent decline since May 2022, about a month after much of the Terra Luna ecosystem collapsed. A small spike in…

Jack Dorsey tips pro-crypto candidate Robert Kennedy to win presidency

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Twitter founder and current CEO of fintech firm Block Inc., Jack Dorsey has thrown his weight behind pro-crypto Democrat presidential candidate Robert F. Kennedy Jr.  “He can and will,” wrote Dorsey, sharing a YouTube clip from Fox News, featuring Kennedy explaining how he plans to beat popular Republican presidential candidates Ron De Santis and Donald Trump. He can and will https://t.co/zrKLc2BKhz — jack (@jack) June 4, 2023 When a user asked if he was “endorsing or just predicting?” Kennedy, Dorsey replied with “both.” Robert Kennedy is the nephew of the…

Pro-XRP lawyer tips outright SEC victory at ‘less than 3%’

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Pro-XRP lawyer John Deaton has tipped less than a 3% chance for the United States Securities and Exchange Commission to score an outright win against Ripple, as an end to the long-running lawsuit draws closer. The CryptoLaw founder has been a vocal advocate for Ripple against the SEC, which filed a lawsuit against the company in December 2020, alleging that the sale of its XRP (XRP) token represented an unregistered securities offering. In a June 3 episode of The Good Morning Crypto podcast, Deaton said he tipped a 25% chance…

Metropolitan Museum of Art to return $550K in donations from FTX

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The Metropolitan Museum of Art (Met) is set to return $550,000 in donations it received from crypto exchange FTX prior to its collapse in November. The New York-based museum confirmed its intention to repay the funds to FTX debtors in a filing to the United States Bankruptcy Court in Delaware on June 2 — the same court where FTX commenced its bankruptcy proceedings. Filing from the Metropolitan Museum of Art. Source: CourtListener The Met said the agreement came on the back of “good faith, arm’s length negotiations” with FTX’s debtors:…