Day: August 28, 2023

Reliance’s Jio Financial to Enter Blockchain and CBDCs: Chairman Mukesh Ambani

“JFS will consolidate its payment infrastructure, with a ubiquitous offering for both consumers and merchants further driving digital adoption for India,” Ambani said. “JFS products will not just compete with current industry benchmarks but also explore pathbreaking features such as blockchain-based platforms and CBDC. They will adhere to the highest standards of security, regulatory norms and ensure protection of customer transaction data at all times.” Source

Hong Kong’s financial secretary Paul Chan sees web3 as future

Hong Kong’s Financial Secretary, Paul Chan Mo-po, touts the potential of web3 and blockchain, envisioning them as catalysts for the city’s next tech-driven growth phase. In the preceding decade, there was a remarkable growth in the realms of music streaming, videos, social media, and mobile gaming. Chan envisions the next transformative growth to come from web3 and blockchain technology. He noted this while speaking at the 2023 Digital Entertainment Leadership Forum. Chan pointed out various avenues in the entertainment industry that have garnered substantial investments from global behemoths. Included in…

OnlyFans invested $20m in Ethereum in 2022

OnlyFans experiences booming growth in 2022, even as its Ethereum (ETH) holdings take a hit due to the year’s tumultuous crypto landscape. In 2022, while OnlyFans content creators enjoyed significant growth and success, the platform’s Ethereum holdings faced challenges due to the prevailing bearish trend in crypto. Fenix International Limited, OnlyFans’ parent company, recently released its financial report to the UK government for the financial year that ended on Nov. 30, 2022. OnlyFans crypto holdings | Source: filing to UK government OnlyFans creators saw both increased popularity and financial benefits.…

Will It Retake $28K Before August Ends?

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Bitcoin (BTC) is currently marked by cautious sentiments as the Crypto Fear and Greed Index holds steady within the fear zone, scoring 39 out of 100 and showing a slight increase from the previous day. This sentiment reflects the prevailing uncertainty in the cryptocurrency realm. Amidst this backdrop, Bitcoin’s price trend takes center stage, influenced by the evolving dynamics of the market. Zooming in on the price action reveals a distinct pattern on the 4-hour timeframe. Bitcoin’s price, guided by a falling channel pattern, traces a consistent downtrend, oscillating between…

OKX and ByBit remove sanctioned Russian banks from payments list

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At least two major crypto exchanges followed Binance in excluding Russian banks under international financial sanctions from their payment options. Tinkoff Bank and Sberbank are no longer available on the list of P2P transactions on ByBit and OKX.  According to Russian media, local users can no longer receive fiat money in exchange for their crypto on Tinkoff or Sberbank accounts on P2P platforms of OKX and ByBit. No official announcements by the representatives of either company were made in official channels. However, by press time OKX still allows users to…

Bitcoin enters the bear zone with price below $26k

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin’s (BTC) price has been consolidating around the $26,000 mark after its sudden decline from $29,000 on Aug. 18. With the recent regulators’ scrutiny, data shows that BTC might be headed to the bear zone. According to the market intelligence platform Santiment, Bitcoin’s social volume has dropped by almost 88% over the past 24 hours. The notable fall comes as the asset’s price struggles to stay above the crucial $26,000 mark. BTC price, whale activity, social…

Laos halts electricity supply to crypto mining projects amid drought

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Laos state-owned electricity distribution company Électricité du Laos (EDL) has announced that it will suspend electricity supply to crypto mining operations in the country, citing various reasons such as the struggle to generate enough power amid drought conditions. According to the announcement, Laos experienced drought in the first half of 2023. The extreme heat resulted in higher demand for electricity and caused hydropower plants to struggle to generate enough power. Official announcement of suspension of electricity supply to crypto mining projects. Source: Électricité du Laos Apart from this, the EDL said…

September ‘crash’ to $22K? — 5 things to know in Bitcoin this week

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Bitcoin (BTC) starts a new week struggling with $26,000 as August becomes its worst month of 2023. BTC price strength remains dubious after a snap crash 10 days ago, with bulls unable to wrestle back control of the market to provide a relief bounce. The outlook looks similarly uncertain — September is traditionally a poorly-performing month for Bitcoin, and with the August monthly close just days away, could another downside surprise lie in store? Macro triggers are once again taking a back seat this week, with Personal Consumption Expenditures (PCE)…