Tag: News

Egyptian Fintech MNT-Halan Secures $400 Million in Funding, Valuation Rises to Over $1 Billion – Fintech Bitcoin News

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Egyptian fintech MNT-Halan announced on Feb. 1 that it had raised over $340 million via debt and equity and it expects to raise an additional $60 million from leading international investors. The latest funding round sees MNT-Halan’s valuation rise to over $1 billion which reportedly makes it the country’s “only private billion-dollar company.” ‘Egypt’s Greatest Fintech Success Story’ MNT-Halan, an Egyptian fintech serving the country’s unbanked population, announced on Feb. 1 that it had raised close to $ 340 million via debt and equity financing. The fintech also said it…

Kazakhstan Launches Consultation on Proposals to Improve Crypto Trading – Regulation Bitcoin News

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Financial authorities in Kazakhstan are starting a public consultation on draft changes to the country’s framework for digital-asset trading. The proposals include measures to reduce risks in the crypto market and improvements to the structure of exchange platforms. Kazakhstan’s Financial Hub Seeks to Amend Its Concept for Trading Digital Assets The Astana Financial Services Authority, the body that oversees the Astana International Financial Center (AIFC), has published a consultation paper detailing proposals aimed at upgrading Kazakhstan’s regulated ecosystem for cryptocurrency operations. The document suggests measures to reduce market risks in…

Samsung Is Preparing Its Own Metaverse Hardware in Partnership With Google and Qualcomm – Metaverse Bitcoin News

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Samsung, the Korean electronics company, has revealed it is working to build its own metaverse and extended reality devices, hinting at the possibility of the launch of a VR headset in the near future. TM Roh, head of Samsung mobile experiences business, stated that the device will be built in partnership with Google and Qualcomm. Samsung to Enter the Metaverse Hardware Business Samsung, the Korean mobile company, revealed it will be joining the market of metaverse and VR (virtual reality) headsets soon. The company announced that it is already working…

Meta Calls 2023 a ‘Year of Efficiency;’ Anticipates More Losses in Its Metaverse Division – Metaverse Bitcoin News

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Meta, the company that owns Facebook, Instagram, and Whatsapp, has shared its fourth quarter results, reporting better numbers than expected. While the company beat revenue estimates, CEO Mark Zuckerberg declared 2023 a “Year of Efficiency,” hinting at a further restructuration of the company to focus on its AI (artificial intelligence) and metaverse projects in the longer term Meta Reports Better Than Expected Q4 2022 Results Meta, the social company, reported mild positive results for Q4 2022, beating revenue expectations, and giving a deeper explanation of the direction that the company…

Binance Says Indian Crypto Exchange Wazirx Can No Longer Use Its Wallet Services – Exchanges Bitcoin News

Binance has announced that Indian crypto exchange Wazirx can no longer use Binance wallet services. Zanmai, the operator of Wazirx, has until Feb. 3 “to remove the funds from the accounts that they used for Wazirx’s operations.” The move followed a public dispute regarding the relationship between Binance and Wazirx. Binance Ends Wallet Services to Wazirx Cryptocurrency exchange Binance said Friday that Indian crypto exchange Wazirx “can no longer use Binance wallet services.” Noting that it “has no control over Wazirx user funds or any aspect of the Wazirx exchange’s…

Hackers Stole $3.8 Billion From Crypto Firms in 2022, Says Chainalysis – Featured Bitcoin News

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Blockchain analytics firm Chainalysis says 2022 was “the biggest year ever for crypto hacking,” with $3.8 billion stolen from cryptocurrency businesses. The firm added that decentralized finance (defi) protocol hacks accounted for 82.1% of all cryptocurrency stolen by hackers during the year. Crypto Hacking Hit Record High in 2022 Blockchain analytics firm Chainalysis published a section of its upcoming 2023 Crypto Crime Report on Wednesday, stating: 2022 was the biggest year ever for crypto hacking, with $3.8 billion stolen from cryptocurrency businesses. The firm explained that crypto hacking activity significantly…

Binance Returns to Korean Crypto Market — Invests in Troubled Exchange Gopax – Exchanges Bitcoin News

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Binance has returned to the South Korean cryptocurrency market after two years with a “meaningful” investment in a local, licensed crypto exchange. Gopax fell into trouble following the collapse of crypto exchange FTX and the bankruptcy filing of crypto lender Genesis Global. Binance Invests in Troubled Korean Crypto Exchange Cryptocurrency exchange Binance announced Friday that it has invested in Gopax, a licensed crypto exchange in South Korea. The investment marks Binance’s return to the Korean crypto market, which the company exited two years ago, citing low usage and trading volume.…

Uzbekistan Collects Over $300,000 From Crypto Sector – Taxes Bitcoin News

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While operations with digital assets are not taxed in Uzbekistan, the government is receiving a growing amount of revenues from the industry. The increase in budget receipts has been attributed to the licensing regime and the introduction of fees for crypto companies. Crypto Exchange in Uzbekistan Pays Over $10,000 a Month to the State Coffer Licensed crypto firms have paid 3.5 billion Uzbekistani som (more than $310,000) to the budget in the course of 2022, Uzbekistan’s regulatory authority responsible for the oversight in the sector revealed during a press conference,…

Experts Predict Future Regulation of Crypto Exchanges by 2025, With Split Opinion on Similarity to Traditional Finance – Regulation Bitcoin News

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Following finder.com’s reports on bitcoin and ethereum predictions, the product comparison site polled 56 specialists in the fintech and cryptocurrency industry to gauge their thoughts on future regulation of crypto exchanges. The experts predict that virtual currency trading platforms will be regulated, but not until 2025 or 2030. When regulation does occur, 76% of Finder’s panelists expect the trading platforms to be treated similarly to traditional financial institutions. 87% of Finder’s Fintech and Crypto Experts Believe Exchanges Must Disclose Proof-of-Reserves Audits A recently published report from finder.com, which polled 56…

Sberbank Set to Launch Decentralized Finance Platform Based on Ethereum – Defi Bitcoin News

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A recent report details that Russia’s largest financial institution, Sberbank, plans to launch a decentralized finance (defi) platform in May. Konstantin Klimenko, product director of Sberbank’s blockchain laboratory, said that open testing will begin in March. Sberbank’s Defi Platform to Enable Large-Scale Commercial Operations According to a report published by the news outlet Interfax, state-owned financial services company Sberbank, based in Moscow, plans to launch a decentralized finance (defi) application. The platform is currently undergoing closed beta testing, according to Konstantin Klimenko, Sberbank’s blockchain laboratory product director. “We have set…