Is Uniswap’s UNI The Crypto Version of a Stimulus Check at $3 Per Token?

Overnight, crypto Twitter exploded in chatter about what is essentially free money. Liquidity swap platform Uniswap that’s recently enjoyed enormous growth rewarded early users with a distribution share of UNI tokens. The price per token quickly rose, essentially turning the UNI distro into the crypto industry version of the stimulus check. How Uniswap Is Stealing Back The Momentum After SushiSwap Fallout The DeFi trend has taken some strange twists and turns. What started as a very serious movement to build the future of alternative finance, turned into a buffet of…

INX exchange taps Israeli crypto startup GK8 for crypto custody

INX, a cryptocurrency firm holding the first-ever token initial public offering, or IPO, approved by the Securities and Exchange Commission, or SEC, has chosen a digital asset custody provider. According to a Sept. 16 announcement, INX has enlisted Israeli crypto startup GK8 for digital asset custody on its upcoming crypto exchange. INX tweeted that the platform will use GK8’s end-to-end platform for managing and safeguarding digital assets. The platform includes GK8’s patented “air-gapped vault that can create, sign, and send blockchain transactions while staying 100% offline,” INX noted. Based in Gibraltar,…

This crypto mining operator was named Bitmain’s sole North American cooperative repair center

Crypto mining operator Core Scientific is set to become the first North American cooperative repair center for major crypto mining hardware manufacturer, Bitmain. According to an announcement shared with Cointelegraph, the company will offer repair services for Bitmain’s machines. The company says that this will reduce costs associated with shipping hardware to Asia, and curtail the time it takes to fix Bitmain’s proprietary hardware. Core Scientific will also be able to perform repairs on out-of-warranty machines, with engineers certified by the Bitmain’s Ant Training Academy. Speaking with Cointelegraph, Taras Kulyk,…

Ripple CEO Brad Garlinghouse Disappointed with India Crypto Ban

According to Garlinghouse, with its crypto ban, India is likely to miss out on a technology that can serve its huge population with much ease and fairness. India, being a heavily populated country, remains a key piece in the ongoing global push for cryptocurrency adoption. However, its policymakers are lagging behind especially in formulating and implementing laws that favor and govern the cryptocurrency industry at large. Recently, a report by media outlet Bloomberg indicated that India plans to introduce a new ban for crypto trading. However, the country is focused…

Wirex announces multi-currency crypto card with support from Mastercard

Wirex —  the first cryptocurrency platform to be granted a Mastercard principal membership — will release a new multi-currency card on the heels of the membership. Wirex is a London-based crypto payment processor and is regulated by the U.K.’s Financial Conduct Authority, with a license to issue crypto cards in Europe.  The multi-currency Wirex Card will be supported by Mastercard and linked to 19 crypto and fiat currency accounts in the Wirex app. An official release date has not yet been announced. In a bid to encourage the use of…

Libra appoints HSBC veteran to manage crypto project’s operational wing

The Libra Association has appointed HSBC veteran James Emmett as managing director of its subsidiary firm, Libra Networks LLC. James Emmet spent 25 years at HSBC and is a former colleague of the Libra Association’s new CEO, former HSBC chief legal officer Stuart Levey. Levey is also the former Under Secretary for Terrorism under the administrations of George W. Bush and Barack Obama Emmett has held multiple roles in his long career at HSBC, most recently working as group general manager. In an official statement, Levey underscored Emmett’s extensive experience…

Fresh reports of Indian crypto ban are “clickbait,” says local source

The draconian bill introduced by the country’s former finance secretary Subhash Chandra Garg in 2019 to ban cryptocurrencies in India haunts the country’s crypto enthusiasts and entrepreneurs to this day. Reports from Bloomberg and the local news outlet Economic Times about the further development of the bill and the possible introduction of it as law has only caused more panic and anxiety within the crypto community. These reports have always cited “people familiar with the development” as saying that the bill will be discussed shortly by the federal cabinet before…

Ripple CEO criticizes India’s looming crypto ban

Indian government officials are reportedly planning to discuss a new bill whose legal framework would ban cryptocurrencies on the subcontinent.  According to a Sept. 15 report from Bloomberg, the Indian federal cabinet is considering a law banning crypto six months after courts lifted a blanket ban. Anonymous sources claimed that the Indian government would encourage the development of blockchain technology, but not cryptocurrency trading. In response, Ripple CEO Brad Garlinghouse called the decision “disappointing,” stating that cryptocurrency had the potential to help underserved populations in the country: Disappointing to see…

How crypto tokens could change our entire experience of value transfer – Cointelegraph Magazine

Programmable money (PM) is in the air. It may be the next stage in the evolution of money. And it could be as disruptive as any financial technology in development today. Yes, China is close to launching the first central bank digital currency (CBDC) at scale — perhaps within the next 12 months — but if so it will be eclipsed before the decade’s end by CBDC 2.0, i.e., digital currency attached to blockchain-enabled smart contracts. At least, that’s what many think. Programmable money is money with constraints. An analogy…

Blockchain Bites: The SEC’s Chilling Effect on Crypto Development

A slew of regulatory happenings are in the works. First, the Bahamian central bank plans to issue the first CBDC this October while the Indian legislative body is considering a ban on crypto trading.  Further, the latest SEC injunction into an allegedly unregistered token sale could set a grave precedent, argues Commissioner Hester “Crypto Mom” Peirce. Top shelf CBDC firstThe Central Bank of the Bahamas has confirmed it is moving ahead with the nationwide launch of its digital currency, called the “Sand Dollar,” sometime in October. Approximately $48,000 worth of the new central…