Day: September 11, 2023

Crypto Safekeeping Specialist Fireblocks Introduces Non-Custodial Wallet Service

“This non-custodial release allows a fintech, web3 company or corporate to create a wallet, where one of the key shares is sitting with the user – either in their web browser or mobile app, with iOS and Android – and the other key share is held with Fireblocks or with the service provider,” Shaulov said. “Basically, that other key share is responsible for security and the ability to recover the overall wallet if the client loses his phone, for example.” Source

Why the digital wallet is the new marketing gold

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The marketing landscape has shifted in the past few years and is ready for upheaval in the coming few years. Stringent regulations, the retirement of third-party cookies, privacy-conscious Gen Z, etc., will increase customer acquisition costs (CAC). The average CMO will likely shift dollars to pay a premium for higher-quality, zero-party data and to drive higher consumer engagement.  Amid this evolution, Web3 emerges as a beacon of possibility for the cookie-less internet. The killer application will be the user-owned digital wallet which can reconfigure consumer-brand relationships with an emphasis on…

Sam Bankman-Fried’s lawyers request pre-trial release citing poor internet connection

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Former FTX CEO Sam Bankman Fried’s lawyers have requested for a pre-trial release citing a lack of adequate internet connectivity in the federal jail. SBF’s legal team argued that poor internet connection is a hindrance in their defence preparation and leads to a loss of time. The court filing dated Sept. 8 was the second such request for pre-trial release within the last week and came after the Appellate judge denied SBF’s request for immediate release from jail on Sept.6. The judge then referred the motion to the next three-judge…

Altcoins Start the Week in the Red

Ripple’s XRP token has dropped over 5% in the past 24 hours, falling below $0.50 for the first time since July 13. In Ripple’s legal fight with the SEC, the U.S. regulator said Friday it needed to appeal a judge’s decision in July that the blockchain firm had not violated securities law in making XRP available to retail investors. Altcoins across the board are in the red to start the week, with XRP among the worst affected. The CoinDesk Market Index (CMI) is at its lowest point since mid-June. Bitcoin,…

Bitcoin Price Confirms Double Top, How Low Can BTC Drop?

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Yesterday’s weekly close of the Bitcoin price below the $26,000 mark has raised concerns among analysts and traders. This move could potentially signal a further decline for the leading cryptocurrency, as it appears to be the first step to confirming a double top formation on the weekly chart. Rekt Capital, a prominent figure in the crypto analysis sphere, took to Twitter to share his insights, stating, “BTC has officially Weekly Closed below the ~$26,000 support. Technically, BTC has begun the first step in the process of validating this Double Top…

Ripple covers Fortress Trust users’ losses

Blockchain startup Ripple covered the losses of Fortress Trust clients as part of its purchase agreement. Fortress said the losses were caused by a “third-party vendor whose cloud tools were compromised”, according to The Block. “Luckily, Ripple was in a position to act quickly to step in and make customers whole, and there have been no breaches to Fortress technology or systems. Fortress notified customers immediately of the incident when it happened — as they mentioned in their tweets.” A spokesperson for Ripple However, the amount of assets lost due…

Animoca Brands Raises $20 Million for Its Mocaverse Project Expansion

Within the funding round, Animoca Brands issued Simple Agreements for Future Equity (SAFEs) priced at A$4.50 each and offered a free-attaching utility token warrant on a 1:1 dollar basis to the participants.  Hong Kong-based game software company Animoca Brands Corporation Ltd has raised as much as $20 million (approximately A$31.3 million) in a funding round led by CMCC Global, one of Asia’s first venture capital investors focused solely on blockchain technology. Animoca Brands is planning to use the funds raised to expand its Mocaverse project which aims to bring together the company’s…

India to Decide Its Stand on Crypto in Coming Months

On the occasion of the G20 summit, India said that it is willing to closely cooperate with all member nations to work on a clear regulatory framework for crypto. In the upcoming months, India is planning to decide its own position and stand on digital assets after proper analysis and consultations. India would obviously consider the stance of global leaders on the acceptable crypto regulatory framework. While speaking on the sidelines of the G20 summit over the past weekend, Ajay Seth, Secretary of the Department of Economic Affairs, said: “India’s…

Alibaba Stock Suffers 3% Drop as Daniel Zhang Quits Cloud Business 

In an official statement on Sunday, Alibaba said that Zhang will be replaced by Eddie Wu. Alibaba Group Holding Ltd (HKG: 9988), one of the prominent players in the Chinese technology industry, faced a 3.5% decline in its stock value on Monday following a surprising turn of events on September 10. The company announced that its departing CEO, Daniel Zhang, would not only relinquish his role as chairman of the group as planned but also step down as CEO of Alibaba’s cloud business. Following the announcement, shares of the company…

Tesla’s Supercomputer Dojo Expected to Add Around $600B to Company’s Market Cap

Going by the new estimates, Morgan Stanley expects that Tesla’s market capitalization will surge by at least $600 billion over the next 12 to 18 months. A recent Reuters report has tipped Tesla Inc (NASDAQ: TSLA), the electric vehicle (EV) maker, as poised to see a major boost in its market capitalization. This follows after Morgan Stanley analysts published a note about Tesla’s Dojo on Sunday. Addressing investors in the note, the team of analysts, led by Adam Jonas, shared how the supercomputer could potentially open up new addressable markets…