Day: September 26, 2023

XRP Ledger Developer Xumm Reveals “Infrastructure Overhaul,” More Than An Upgrade?

The company behind the XRP Ledger crypto wallet, Xumm, unveiled its plans to launch an “Infrastructure Overhaul” for the network. The company claims the upgrade will push the XRPL to the next level. According to an official announcement shared with Bitcoinist: This isn’t just a technical upgrade; it’s a strategic move to reshape the very foundation of the XRPL, ensuring a sustainable, efficient, and inclusive future for all participants. XRP Ledger Upgrade Goes Beyond? Implications For The Network Xumm believes the XRP Ledger has an “advanced” infrastructure, but they aim…

Gemini invests $24M for expansion in India

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Cryptocurrency exchange Gemini is allocating 2 billion rupees ($24 million) for its expansion in India. According to the Sept. 26 announcement, the funds will be used to grow Gemini’s development center in Gurgaon. The exchange said:  “Our teams based in Gurgaon will also be responsible for core platform fundamentals in the areas of compliance, data pipelines and warehousing, security, and payments, complementing our 500+ strong global workforce.” Since its initial launch in May, the Gemini Gurgaon Development Center has expanded to over 70 staff, with active hiring for software engineers,…

Bitcoin Mining Now Most Sustainably-Powered Global Industry: Data

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Data shows that the Bitcoin mining sector has become the most sustainably-powered global industry, as more than 50% of it uses clean energy. Majority Of Bitcoin Mining Industry Uses Clean Energy Sources One of the main criticisms against BTC is that the sector uses a considerable amount of energy and, thus, releases a notable amount of emissions. Things appear to be developing for the better and quite fast. In a new post on X, the co-founder of CH4Capital, Daniel Batten, has shared a few charts that look into the sustainability…

Bahrain’s Bank ABC using JPMorgan’s Onyx blockchain for cross-border payments

Bahrain-based Bank ABC will use JPMorgan’s Onyx Coin Systems for blockchain-based cross-border payments in a soft, or limited, launch. The new service will be more cost effective and reduce settlement times relative to traditional solutions. Bank ABC will at first use the U.S. dollar in transactions involving Bahrain, the United States, United Kingdom, Singapore and Hong Kong. The partners are planning more locations and transactions with the euro as well. Programmable payments are also in the works. The service has been launched after two years of experiments. Global head of…

Bitcoin Price (BTC) Barely Holds $26K as Interest Rate Surge Continues

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“I am not sure if the world is prepared for 7%,” said the JPMorgan CEO earlier Tuesday. Dimon noted that the rise in the U.S. Federal Reserve’s benchmark fed funds rate from 0%-2% was not a big deal and that the rise from 2% to the current 5.25%-5.50% caught a few off guard. A rise to 7%, though, he cautioned, is something very few market participants are expecting. Original

US Treasury sanctions Ethereum wallet tied to cartel over ‘illicit fentanyl trafficking’

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The Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury has added a crypto wallet allegedly connected to a major international crime syndicate to its list of Specially Designated Nationals. In a Sept. 26 announcement, the U.S. Treasury said it had sanctioned 10 individuals, including many tied to the Sinaloa Cartel. Among those added was Mexican national Mario Alberto Jimenez Castro through an Ethereum wallet. ‘[Jimenez Castro] reports directly to a Chapitos deputy and operates a money laundering organization that uses virtual currency and wire transfers,…

US Treasury sanctions Ethereum wallet tied to cartel over ‘illicit fentanyl trafficking’

The Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury has added a crypto wallet allegedly connected to a major international crime syndicate as part of its list of Specially Designated Nationals. In a Sept. 26 announcement, the U.S. Treasury said it had sanctioned 10 individuals, including many tied to the Sinaloa Cartel. Among those added to the department’s list of Specially Designated Nationals included Mexican national Mario Alberto Jimenez Castro through an Ethereum wallet. ‘[Jimenez Castro] reports directly to a Chapitos deputy and operates…

Bloomberg Analyst Points Out Two Key Bitcoin Metrics Demonstrating Historic Strength

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As the bear market continues to linger, several market analysts have pointed out key metrics or factors that show that the Bitcoin bull market might not be far off. This time, Bloomberg analyst Jamie Coutts has identified key Bitcoin adoption metrics that provide bullish signals to the crypto community. What Are These Key Bitcoin Metrics? In a tweet shared on his X (formerly Twitter) platform, Coutts noted that “HODLers” and transactions on the Bitcoin network were at an all-time high. According to the update he shared, the number of addresses holding…