Category: Blockchain

Binance sees $778M net outflows on Ethereum blockchain amid SEC charges: Nansen

The SEC lawsuit against Binance on June 5, accusing the crypto exchange of violating various securities laws, had a direct impact on the crypto market as well as the balance sheet of the crypto exchange. According to data shared by crypto analytic firm Nansen, Binance saw a negative netflow of $778 million on the Ethereum blockchain, where $871 million worth of assets inflowed onto the exchange while $1.6 billion worth of assets went out of the exchange. Even in the first 24 hours following the SEC lawsuit, Ethereum-based tokens have…

Meme Coins On Bitcoin Blockchain Under Threat As Coders Seek Removal

Meme coins may be facing a daunting threat to their existence. The coders and validators of the Bitcoin blockchain, the very foundation on which these meme coins operate, are contemplating their removal.  This pivotal decision comes in the wake of a significant surge in Bitcoin blockchain gas prices witnessed in May, a surge fueled by the relentless growth of Bitcoin-based meme coins.  But what does this mean for the future of meme coins? Is this the end of their wild and unpredictable journey? Bitcoin Blockchain Faces Threat From Surging Meme…

JPMorgan uses blockchain for 24/7 dollar transfers with Indian banks

Global financial services company JPMorgan continues exploring the benefits of blockchain, deploying the technology to eliminate some restraints of traditional finance. JPMorgan has partnered with six major Indian banks to introduce a blockchain-based platform enabling interbank settlement of dollar transactions, Bloomberg reported on June 5. The participating banks include HDFC Bank, ICICI Bank, Axis Bank, Yes Bank, IndusInd Bank and JPMorgan’s own banking unit at Gujarat International Finance Tec-City, or GIFT City. The blockchain project aims to expand the capacity of the existing settlement system, JPMorgan’s senior country officer Kaustubh…

JPMorgan Collaborates with Indian Banks to Launch Blockchain-Based Dollar Settlement System, Reported Bloomberg

JPMorgan Chase & Co., the American multinational investment bank, has formed an alliance with six Indian banks to inaugurate a blockchain-based platform that will handle interbank dollar transactions within India’s emerging International Financial Centre. This development, initially reported by Bloomberg, showcases the evolving landscape of financial technology (fintech) in India. Kaustubh Kulkarni, JPMorgan’s Senior Officer in charge of Indian operations and Vice Chairman for the Asia-Pacific region, indicated that the project would enter a pilot phase in the upcoming months. This period is crucial for gauging the experience and adaptability…

Tornado Cash Sanctions Called “Unprecedented And Unlawful” By The Blockchain Association

The Blockchain Association and DeFi Education Fund have filed an amicus brief calling the U.S. Treasury Department’s decision to sanction Tornado Cash “unprecedented and unlawful.” Until OFAC imposed sanctions, Tornado Cash was the most popular privacy-protecting tool on Ethereum, the world’s second-largest digital asset platform. The software is self-executing computer software published on the Ethereum blockchain, and it functions automatically without any human intervention or assistance. Blockchain Association Takes On U.S. Treasury Over Tornado Cash Sanction The filing argues that the decision to sanction Tornado Cash reflects a basic misunderstanding…

Privacy-focused Aleo blockchain gets new wallet as mainnet launch approaches

Demox Labs has debuted a new wallet for the privacy-oriented Aleo blockchain network, according to a June 1 announcement. Called “Leo,” the wallet allows users to generate zero-knowledge (ZK) proofs within their browsers, letting them interact with Aleo’s ZK-based apps. Aleo is in its testnet phase but expects to launch a mainnet later this year. According to the announcement, Demox also raised $4.5 million from investors to further develop ZK-proof technology through Aleo and other networks. Over 40,000 users signed up for the Leo wallet waitlist in the period leading up…

Blockchain Association Files Amicus Brief in Coin Center Lawsuit Against U.S. Treasury Over Tornado Cash Sanctions

“An order effectively requiring Defendants to decriminalize use of the 20 Tornado Cash addresses would allow Plaintiffs to conduct their legitimate activities with some measure of anonymity, use their preferred software tool without fear of penalties, and engage in important expressive associations,” the suit said. “Judicial relief would also serve the public interest by averting harm to Tornado Cash users who are United States persons, to Ethereum as a freedom and privacy enhancing technology, and to the important sector of the economy that depends on Ethereum.” Source link

DPAT Raises Private Funding To Enhance Web3.0 Ecosystem – Blockchain News, Opinion, TV and Jobs

DPAT, the first Web3 crowdsourcing platform designed to connect investors with real estate and infrastructure opportunities in major African cities, has announced the launch of its highly anticipated updated roadmap and revamped website. Positioning itself as a bridge to new emerging economies, the Ethereum-backed Web3 investment platform is set to attract investors, crypto advocates, and entrepreneurs alike by offering a say in what gets built, by whom and for who in markets where they believe success is only lacking the right type of funding. The road map for the Direct…