Month: June 2023

Deutsche Bank Seek BaFin License to Provide Crypto Custody Services

Deutsche Bank’s application for regulatory approval is a positive step toward the development of a regulatory framework for digital asset custody services in Germany. Deutsche Bank AG (ETR: DBK), one of the leading financial institutions in the world, is seeking regulatory approval from Germany’s financial market regulator, BaFin, to operate a custody service for crypto assets, including cryptocurrencies. Interestingly, this move is a significant step towards the banks’ entry into the digital asset space, which has been gaining traction in recent years. According to a Bloomberg report, David Lynne, head…

Alibaba Announces Co-Founder Eddie Wu Set to Replace Daniel Zhang as CEO

According to Alibaba, Eddie Wu will take over from Daniel Zhang as CEO, to allow Zhang focus on the company’s Cloud intelligence business. Chinese multinational tech company Alibaba Group Holding Limited (HKG: 9988) has announced that co-founder Eddie Wu will take over the CEO position from Daniel Zhang. The company made the surprise announcement, intended to allow Zhang to concentrate on Alibaba Cloud. In an internal memo sent to staff, current CEO Zhang touched on the need to focus completely on the company’s Cloud business. He said that cloud computing is an…

Binance Moves $3 Billion Worth of BTC to New Address

Despite the large amounts being removed, data suggests that Binance remains the exchange with the largest BTC balance. Top crypto exchange Binance has shared its recent move which saw it transfer massive amounts of Bitcoin (BTC) to a new blockchain address. According to the crypto firm, it recently moved at least nine figures worth of BTC but assures users of the safety of their funds. Per Binance, the funds are now safely tucked away in cold storage. Meanwhile, analytic firm Blockchain.com has also run a check on the new cold…

Binance’s BNB Smart Chain Unveils Scalability Solution opBNB Powered by Optimism

The combination of BSC’s strong ability and opBNB’s dedicated new features will make data access easier. In a major announcement on Monday, June 19, Binance-founded Layer-1 blockchain platform BNB Smart Chain (BSC) introduced a new scalability solution opBNB, with the goal of offering a seamless experience for users, developers, and projects on BSC. Binance unveiled the testnet on the very same day inviting testnet validators and dApp builders to try their hands. They noted that opBNB will address the scalability requirements for the mass adoption of blockchain technology. Powered by…

‘I can feel myself being a dick’ — Hall of Flame – Cointelegraph Magazine

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What Bitcoin Did podcaster Peter McCormack admits that he has a “weird relationship with Twitter,” as he believes it “brings out the worst in people.” He’s worked hard to build up more than half a million followers to promote his show but still isn’t sure that Twitter is a “net positive” because it “elevates a lot of stupidity” out of people. And he includes himself in that assessment. “I can feel myself being a dick to other people [on Twitter]. Like, I criticize it and then realize I’m a hypocrite…

Bitcoin (BTC) Dominance Surges Past 50% amid Crackdown on Altcoins

The market capitalization of the flagship cryptocurrency recently hit levels greater than that of all other cryptocurrencies combined. Bitcoin (BTC) has had some difficult runs recently, but maybe its market dominance was never in doubt. This follows after the market capitalization of the flagship cryptocurrency recently hit levels greater than that of all other cryptocurrencies combined. According to TradingView data, Bitcoin dominance surpassed 50% on Monday, in what was its first attempt in over 2 years. Since the BTC price headed for the rocks following China’s ban in May 2021,…

Singapore Ride-Hailing Giant Grab Plans First Massive Layoffs since Pandemic

Despite expressing positive revenue projections for 2023 and accelerating its profitability timeline in February, Grab is now planning a fresh round of layoffs. Grab Holdings, a Singapore-based ride-hailing and food delivery company, is gearing up for its largest round of layoffs since the pandemic, according to a report by Bloomberg on Tuesday. Sources familiar with the matter stated that the company would officially announce the planned job cuts this week, which is expected to surpass the previous 5% reduction in 2020, affecting up to 360 employees. At the time, Grab…

Australian Payment Provider Cuscal Imposes New Restrictions on Crypto; Blockchain Australia Criticizes Move

“Our banking partner, Cuscal has updated its Merchant guidelines which contain new requirements for all digital currency exchanges that are supported by Cuscal,” the “survey” reads. “If you do not currently comply with the new requirements, we are happy to consider a reasonable time frame for implementation. Please note, if you are unable to comply with the requirements, Zepto and Cuscal will not be able to continue to support you.” Source link

Era of trading crypto as non-securities is over, says exchange exec

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Amid lawsuits against United States-based exchanges like Coinbase and Binance.US, an executive at a domestic digital asset firm has noted the legal implications of these recent enforcement actions for the industry. The era of trading cryptocurrencies as non-securities is coming to an end, according to Itai Avneri, chief operating officer at the blockchain trading firm INX. Avneri believes that a massive amount of coins offered for trading on crypto exchanges is among the core reasons for legal issues. “You cannot continue to trade cryptocurrencies as if they are not securities.…