Day: August 10, 2023

What does the future hold for BNB Chain?

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Episode 25 of Cointelegraph’s Hashing It Out podcast explores the BNB Chain ecosystem with Arno Bauer, the blockchain’s senior solution architect. Bauer explains the rationale behind creating the BNB Chain and how the project intends to contribute to the Web3 ecosystem. Bauer addresses the competition in the space and explains that BNB Chain was not designed to “kill Ethereum” but to provide value for a unique set of users. “I wouldn’t call ourselves an Ethereum killer because I don’t think anyone wants to kill Ethereum.“ Recently, BNB Chain launched a new…

Coinbase Seeks New Revenue Stream From Layer 2 Network

Coinbase (COIN), the large publicly traded U.S. crypto exchange, said its new Base blockchain, a “layer 2 network,” has gone live, heralding the start of a new era of public companies running their own distributed networks. Base was already live for testing by developers, and it became open to the public at noon ET on Wednesday. The move could ultimately allow Coinbase to garner fees from running its own blockchain, in addition to a potentially even more lucrative stream of revenue from applications built atop it, executives say. Layer 2…

FTX Lawyers Hit Back at Creditors Criticizing Restructuring Plan After ‘Many Months’ of Work

The lawyers argued that this would “require relief from this Court,” they would be faced with a separate risk of commingling of their treasury investments, and the step “creates a risk of loss in the event of a need for rapid monetization, or the lack of liquidity in the surety collateral market, which is not an idle concern given the recent bank failures allegedly caused in part by overinvestment in U.S. treasuries.” Source

US Congresswoman Raises Concerns About Paypal Stablecoin In The Absence Of Regulation

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Earlier this week, popular American payment giant Paypal unveiled the launch of its USD-pegged PYUSD stablecoins to investors. In response, Democrat congresswoman Maxine Waters has raised palpable concerns that may or may not threaten the stablecoin’s operations. Waters Raises Regulatory Concerns Reacting to the news of Paypal’s PYUSD stablecoin launch, congresswoman Maxine Waters noted that the launch comes at a time when there was no legislative mechanism to regulate these assets.  She stated that “given PayPal’s size and reach, federal oversight and enforcement of its stablecoin operations is essential in…

Jump Crypto Backs $5M Round for Bitcoin Wallet Xverse

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Other investors in the round included RockawayX, Sfermion, Alliance, NGC Ventures, V3ntures, Old Fashion Research, 2140 Bitcoin Ecosystem Fund, Bitcoin Frontier Fund, Newman Capital, Franklin Templeton, New Layer Capital, Miton C, Gossamer Capital, Daxos Capital, Sora Ventures, Tyhke Block Ventures, IOBC Capital and Despread, among others. Original

OKB Token 15% Surge Paves the Way for Record-Breaking Highs

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OKB, the native cryptocurrency of the OKX exchange, has made a solid comeback after a lackluster performance in the latter half of July. As August dawned, the token’s price roared back to life, sparking optimism among investors and enthusiasts.  The rally began during the first week of August, when OKX exchange’s investment arm announced a substantial $1 million Series A stake in Moonbox, a Hong Kong-based artificial intelligence and Web 3 startup, which garnered attention as an innovative player in the tech industry. The strategic investment not only infused fresh…

France updates its crypto licensing regime to synchronize with MiCA

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In France, amendments to the existing crypto regime will come into effect next year to align national regulations with the pan-European framework set by Markets in Crypto-Assets (MiCA).  The Autorité des Marchés Financiers (AMF), France’s principal financial authority, announced the provisions of its General Regulation and its policy on digital asset service providers (DASPs) to take due to the “enhanced” registration. The press release was published on Aug. 10. The “enhanced” registration requirements for crypto platforms, captured by a new Article 721-1-2 of the AMF General Regulation, will include systems…

India Explores Using Crypto to Sign Documents on Indigenous Web Browser

” …the browser envisions the ability to digitally sign documents using a crypto token, bolstering secure transactions and digital interactions,” the announcement said as part of the launch of the Indian Web Browser Development Challenge (IWBDC), an open competition to create an indigenous web browser with “its own trust store … cutting edge functionalities and enhanced security & data privacy protection features.” Source