Day: November 14, 2023

Swan Bitcoin to terminate customer accounts that use crypto-mixing services

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Bitcoin (BTC) services platform Swan Bitcoin warned its customers that it would be forced to terminate accounts found interacting with crypto-mixing due to the regulatory obligations of its partner banks.  Customers were informed about the policy in a letter suggesting the changes are due to the United States Financial Crimes Enforcement Network (FinCEN) proposed rule establishing new responsibilities on firms processing transactions from mixing services. On Nov. 12, the co-founder of the firm, Yan Pritzker, took to X (formerly Twitter) to explain that although the firm is not against the use…

Fintech Startup Fnality Raises $95M in Funding Led by Goldman and BNP Paribas

With the recently secured Series B funding, Fnality is poised to continue its pioneering work in the tokenization of fiat currencies backed by Central Bank cash. Fnality, a fintech firm focused on building tokenized versions of major currencies collateralized by cash held at central banks, has successfully secured $95 million in its Series B funding round, with major financial institutions like Goldman Sachs Group Inc (NYSE: GS) and BNP Paribas SA (EPA: BNP) leading the investment. Fnality Funding and Key Participants The investment also had participation from key players such…

Social Network MeWe Heralds Migration of Users to Web3 From Web2

Frequency evolved out of the work of the Decentralized Social Networking Protocol (DSNP), which allows applications to deliver Web3 features to their users. DSNP was supported by Project Liberty, a non-profit funded by real estate billionaire Frank McCourt, as a means of disrupting the Web2 social-network paradigm of platforms like Facebook and X, formerly Twitter. Source

Altcoins to Watch Out for as Bitcoin, Ethereum, Solana Cool Off after Impressive Rally

Bitcoin and some large-cap altcoins have experienced significant resistance in the past few days pushing crypto traders to small-cap and meme coins’ speculation. The crypto cash flow has been moving from Bitcoin (BTC) and large-cap altcoins like Ethereum (ETH), Solana (SOL), and Chainlink (LINK) to small-cap and meme coins as indicated by the traded volume. According to market data provided by Binance-backed Coinmarketcap, the daily average traded volume for meme coins was up approximately 121 percent to around $3.2 billion. On the other hand, Bitcoin and Ether’s trading volume had…

Fake News on BlackRock’s iShares XRP Trust Sends Price Briefly to $0.74 Leading to High Liquidation

For several hours, the iShares XRP Trust appeared on the ICIS Delaware website suggesting that BlackRock had filed to list an XRP ETF, which was confirmed to be fake. Amid the ongoing Bitcoin (BTC) and Ethereum (ETH), exchange-traded funds (ETFs) in the United States, the crypto community has questioned why the Ripple Labs-backed XRP has not been included and it has legal clarity. On Monday, reports circulated on the X platform that BlackRock Inc (NYSE: BLK) had filed to list an XRP exchange-traded fund (ETF). Notably, BlackRock’s iShares XRP Trust…

BlackRock Takes The Fight To SEC With New Filing

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BlackRock and NASDAQ have outlined why the SEC needs to approve the investment company’s new spot Ethereum exchange-traded fund (ETF) filing. According to the filing with the SEC, approval of a Spot ETH ETP would represent a major win for the protection of U.S. investors in the crypto asset space.  If approved, the iShares Ethereum Trust would allow regular investors to trade Ether, the world’s second-largest cryptocurrency by market cap, as easily as stocks can be traded.  BlackRock And NASDAQ Lobbies SEC To Allow Spot ETH ETFs BlackRock, the world’s…

Foresight Ventures Takes Majority Stake in Crypto Media Firm The Block

Foresight Ventures sees the acquisition as an opportunity to establish a significant foothold in the US and contribute to The Block’s growth amidst challenges in the crypto media industry. Singapore-based Foresight Ventures has completed the acquisition of a majority stake in The Block, a prominent crypto news and data provider. The deal, which valued the company at $70 million, marks a significant move for Foresight Ventures, an investment organization specializing in blockchain technology and crypto business. The Block’s Acquisition Deal With Foresight Foresight Ventures, which manages $400 million in assets,…

Polygon ID Release 5 Goes Live Boosting Credential Liquidity

Polygon ID Release 5 comes with exciting new features including on-chain issuer, issuer node, along with the addition of a new credentials marketplace. In a groundbreaking development, Polygon ID has unveiled Release 5, a significant stride toward constructing a dynamic decentralized identity ecosystem. This latest release introduces a host of features aimed at simplifying the credential generation process and expanding the potential applications within the Polygon ID network. At the forefront of these enhancements is the introduction of a new on-chain issuer, a smart contract designed to facilitate the creation of…

NFT sales volume upward trend to continue, industry execs say

In the weeks leading to November, nonfungible token (NFT) data showed a consistent upward leap in weekly sales. While the volume is still far from its peak in 2021, executives in the industry believe the upward trend will likely continue.  On Nov. 6, data published by blockchain analytics firm Nansen showed that NFT sales volume leaped from $56 million in the week ending on Oct. 9 to $129 million in the week ending on Nov. 6. NFT sales volume data in the last year. Source: Nansen According to Jonathan Perkins,…