Day: September 1, 2023

TRYB Stablecoin Backed by Turkish Lira From BiLira Ranks Second to Tether’s EURt in Non-Dollar-Backed Tokens

Still, even though TRYB looks to have gathered traction in Turkey, USDT remains dominant. In the past 24 hours, the USDT/TRY pair listed on the largest Turkey-based crypto exchange, BtcTurk, has seen a trading volume of $12.3 million, accounting for 18% of the total activity on the exchange. Meanwhile, the total volume in TRYB trading pairs listed on MECX, Pangolin and Icrypex is just $61,700. Source

Samsung Gains 6% amid Rumors about Company Becoming Nvidia AI Supplier

With Samsung winning the position of a competitor against SK Hynix, Nvidia will have more options when it comes to chip supply and stop relying on SK Hynix as a sole provider.  South Korean multinational electronics giant Samsung Electronics Co has reportedly won the right to supply advanced memory HBM3 chips to the world’s leader in artificial intelligence computing Nvidia Corp (NASDAQ: NVDA). Following the reports, Samsung saw its shares soar by 6%. Citigroup analysts Peter Lee and Josh Yang were among the first to reveal that Samsung will start the supply…

Crypto Travel Rule Takes Effect in UK

The Crypto Travel Rule was created by the UN’s Financial Action Task Force (FATF) in June 2019 as a measure to prevent illicit actors from laundering money through cryptocurrencies. Commencing today, September 1, a new regulatory requirement is now in effect for cryptocurrency-related enterprises operating within the United Kingdom. This crypto rule was initially introduced by the Financial Conduct Authority (FCA) on August 17. It obligates Virtual Assets Service Providers (VASPs) to gather, validate, and transfer information related to cryptocurrency transactions. In the event that a payment originates from a…

Biden Administration Invests $15.5B in Electric Vehicle Transition

Historically, the United States has relied on other countries for battery materials and components. However, a growing number of automakers and battery manufacturers are announcing plans to establish battery production facilities within the United States.  The US Department of Energy (DOE) recently unveiled a $15.5 billion funding and loan package as part of President Biden‘s ambitious “Investing in America” agenda. This initiative announced by the Biden administration primarily focuses on retooling existing factories to support Electric Vehicle (EV) production, thereby promoting good job opportunities and aiding a just transition to zero-emission…

US Bitcoin Corp to host 8,500 BTC miners for bankrupt Celsius

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Data center operator US Bitcoin Corp (USBTC) has announced it will host 8,500 Bitcoin miners from the insolvent crypto lender Celsius at its Alpha Site.  A press statement on Aug. 31 revealed that the miners are expected to have an estimated hashrate of 820 petahash (PH). The hosting arrangement is part of a more significant deal that could see USBTC managing as many as 310,000 Bitcoin (BTC) miners. These miners would belong to Celsius and other…

Crypto YouTuber Losses $60K after Exposing Seed Phrases on Live Stream

August saw the crypto industry lose around $24 million in virtual assets due to various hacks and exploits. On August 30, Ivan Bianco, a prominent blockchain gaming-focused YouTuber known for his channel “Fraternized Crypto,” faced a devastating loss of approximately $60,000 in cryptocurrencies during a live stream. This unfortunate incident occurred when he inadvertently revealed the private keys to his crypto wallets. During the live stream, Bianco, who hails from Sao Paulo, Brazil, made a critical mistake by accidentally displaying his private keys, exposing them to the public. Realizing the…

Hedera Falls To Critical Support Level: Can HBAR Rebound?

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Hedera (HBAR) recently encountered a significant hurdle as it faced price rejection at a crucial weekly bearish order block. Currently hovering at the $0.0500 level, this juncture has emerged as a formidable obstacle for sellers looking to capitalize on the prevailing bearish sentiment. In a price report, it was revealed that HBAR’s funding rates have consistently remained in negative territory for the past few days. This bearish skew in the futures market further underscores the challenges HBAR faces in its price recovery.  The current HBAR price, as reported by CoinGecko,…

Crypto Exchange OKX Plans to Expand into India despite Murky Regulatory Environment

The exchange recently partnered with blockchain platform Neo to bring its APAC Hackathon to the southern city of Bengaluru in an effort to understand the local culture and support the Web3 ecosystem.   Global cryptocurrency exchange OKX has announced that it will be expanding to India despite the murky regulatory environment in the country. In an interview with CoinDesk, the platform’s Chief Marketing Officer Haider Rafique revealed that OKX was looking to scale up its wallet services by tapping into the rich local developer community. “We’re going to learn about the…

OKX plans to enter India, hire local employees for Web3 exploration

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The cryptocurrency exchange OKX plans to enter the Indian market and recruit local employees in an effort to expand the possibilities of Web3 applications, according to a CoinDesk report. OKX chief marketing officer Haider Rafique said the company plans to scale up its wallet services “exponentially” via entrance into India’s developer community. He continued, saying there are currently 200,000 OKX Wallet users in India, which equates to barely 5% of India’s Web3 users. “We’re going to learn about the community. We’re going to work with local folks — figure out where…