Tag: binance

Categories
Market News Top Crypto News

Mastercard to Launch Crypto Trading for Banks – Top Crypto Updates

Mastercard, Paxos to launch crypto trading for banks

Mastercard plans to launch a new program called Crypto Source that will make it easier for banks and other financial institutions to offer crypto trading. The program will act as a “bridge” between the crypto trading platform Paxos and banks. Paxos will undertake crypto custody and trading services, while Mastercard will integrate these services into banks’ interfaces.

Crypto prices today: Bitcoin up 1.7%, ETH rises 1.9%

Bitcoin is currently trading at $19,600.52, an increase of 1.72% over the previous day. Ethereum is up 1.89% over the last 24 hours to $1,334.07. Solana rose 2.5% to $31, while Cardano is trading higher by 0.77% at $0.370. Avalanche (AVAX) rose 2.5% to $16.24. The global crypto market cap stands at $937.3 billion, a 1.5% increase over the previous day.

Binance to launch cloud mining business in November

The world’s largest crypto exchange by volume, Binance, plans to offer a crypto cloud mining product next month. Recently, Binance Pool announced its own $500 million lending fund for Bitcoin miners and said it would enter cloud mining, a service that allows investors to rent crypto mining machines.

Aptos Blockchain faces issues on debut

Aptos, a new Layer 1 blockchain established by former Meta employees, is not living up to its expectations according to on-chain data from its first day of transactions. On-chain data from Aptos’ block explorer shows that the protocol is currently processing just four transactions per second.

During the development process, the Aptos team said that its parallel execution engine was capable of processing 160,000 transactions per second (far above Solana’s advertised 65,000 per second).

SEC, CFTC probing Three Arrows Capital: Report

Bloomberg reported that the Commodity Futures Trading Commission (CFTC) and the Securities & Exchange Commission (SEC) are examining whether bankrupt crypto hedge fund Three Arrows Capital violated rules by misleading investors about its balance sheet and not registering with the two agencies.

The Singapore-based company filed for bankruptcy in July. It stated that its business had “collapsed in the wake of extreme fluctuations in crypto markets.”

Categories
Market News Top Crypto News

Metamask Unveils Digital Asset Portfolio dApp – Top Crypto Updates

Metamask unveils all-in-one digital asset portfolio dApp

Metamask has launched a new beta decentralized application (dApp) that serves as a one-stop shop for managing crypto and non-fungible token (NFT) portfolios on different platforms. Users can access this dApp by clicking the “Portfolio” link on their browser extension’s home screen to connect multiple accounts. The dApp is available on the browser extension and for mobile users as well.

Crypto prices today: Bitcoin up 1%, ETH rises 1.3%

Bitcoin is currently trading at $19,530.66, an increase of 0.92% over the previous day. Ethereum is up 1.37% over the last 24 hours to $1,339.76. Solana rose 2.45% to $34.11, while Cardano is trading higher by 1.32% at $0.436. Avalanche (AVAX) rose 1.2% to $17.38. The global crypto market cap stands at $944.04 billion, a 0.72% increase over the previous day.

ETHW surges as Binance launches Ethereum Proof-of-Work mining pool

Crypto exchange Binance announced an Ethereum Proof-of-Work (ETHW) mining service for its users. Those who take part in the pool will not be charged a fell until October 29. Following this news, ETHW (the new asset born out of Ethereum’s merge earlier this month) surged 12% over 24 hours.

Mining pools are formed when groups of crypto miners want to share resources to allow other miners to work with them and collectively have a better chance of processing a transaction.

Warner Music Group partners with OpenSea

Warner Music Group will partner with NFT marketplace OpenSea to accelerate its artists’ expansion into Web3. The collaboration will grant Warner Music artists early access to new OpenSea products, improved discoverability on the NFT marketplace, and featured portions of the OpenSea site for upcoming NFT projects.

Meta opens NFT sharing on Instagram, FB to all US users

Meta has launched NFT collectibles support for all Facebook and Instagram users in the United States. Users can now connect wallets from Coinbase, Dapper Labs, MetaMask, Rainbow, and Trust with Instagram to post digital collectibles minted on Ethereum, Polygon, and Flow. Insta users can also crosspost their NFTs to their Facebook accounts.

Categories
Market News Top Crypto News

Ethereum Successfully Executes Merge Event – Top Crypto Updates

Ethereum cryptocurrency, physical coin in front of an abstract background

Ethereum successfully executes Merge event

At 2:45 am EST (12:15 pm IST), the Ethereum network successfully began its transition from proof of work to proof of stake.

In proof of work, Ethereum (ETH) was generated by “mining,” an energy-intensive process by which individuals directed huge amounts of computing power at difficult-to-solve puzzles. Under the proof of stake mechanism, new ETH is generated by individuals and entities pledging large amounts of pre-existing ETH. The transition is anticipated to be faster, more scalable, and 99.9% more environmentally friendly.

Crypto prices today: Bitcoin falls 0.4%, ETH up 0.6%

Bitcoin is currently trading at $20,230.4, a decline of 0.43% over the previous day. Ethereum is up 0.66% over the last 24 hours to $1,624.23. Solana rose 2.31% to $34.33, while Cardano is trading higher by 1.3% at $0.479. Avalanche (AVAX) rose 0.51% to $19.21. The global crypto market cap stands at $994.19 billion, a 0.4% decline over the previous day.

Binance sees record rise in Indian users after imposition of new crypto tax

The number of Indian user sign-ups has surged on global crypto exchange Binance after a 1% tax deducted at source (TDS) came into effect in July. Binance app downloads in India jumped to 429,000 in August 2022. Meanwhile, daily trading volumes at several India-based crypto exchanges have reportedly declined over 90% since the 1% TDS took effect.

South Korean authorities issue arrest warrant for Terra’s Do Kwon

A court in Seoul issued an arrest warrant for Do Kwon, the CEO and founder of TerraForm Labs, following an ongoing investigation into the collapse of the Terra ecosystem. The warrant also targets five more individuals who are currently residing in Singapore for violation of capital market rules. Terra Labs’ stablecoin UST and its sister token LUNA crashed heavily in May 2022. It resulted in the wipeout of at least $40 billion of investors’ wealth.

Categories
Market News Top Crypto News

Busan Taps FTX to Develop Crypto Exchange – Top Crypto Updates

Busan taps FTX to develop crypto exchange

South Korean city Busan signed an agreement with crypto exchange FTX to develop blockchain-based businesses in the coming months. This partnership is in line with the city’s broader plans to become a global blockchain and financial hub. Busan City and FTX will work together to develop and promote various blockchain-focused businesses and establish the Busan Digital Asset Exchange.

Crypto prices today: Bitcoin, ETH falls 1%

Bitcoin is currently trading at $20,204.46, a decline of 1% over the previous day. Ethereum is down 0.94% over the last 24 hours to $1,573.41. Solana fell 1.91% to $32.17, while Cardano is trading higher by 0.2% at $0.454. Avalanche (AVAX) has fallen by 3.56% to $19.52. The global crypto market cap stands at $986.23 billion, a 0.8% decline over the previous day.

OpenSea adds Polygon support to expand features

NFT marketplace OpenSea announced the integration of the layer two scaling solution Polygon into its Seaport protocol implementation. The most important new feature is the ability to use the native token of the Polygon network, MATIC, to list and buy on OpenSea. In the coming months, OpenSea will be adding support for Klaytn and other Ethereum virtual machine (EVM)-compatible chains as well.

U.S. Congressional Committee probes Coinbase, FTX, Binance on fraud prevention

A U.S Congressional Committee has sent letters to the leading crypto exchanges in the U.S., requesting “information and documents” showing how each company is working to combat crypto-related fraud. Coinbase, FTX, Binance, Kraken, and KuCoin received a four-page letter requesting all documents related to crypto fraud since 2009.

The Federal Trade Commission estimates crypto fraud will con victims out of a whopping $1 billion in 2022 alone.

Japan’s FSA proposes tax breaks for crypto

Japan’s Financial Services Agency (FSA) proposed easing corporate tax rules for crypto assets and lighter levies for individual stock investors. Companies could be exempted from paying taxes for paper gains on crypto coins that they hold after issuing them. The move supports Prime Minister Fumio Kishida’s “New Capitalism” vision, which seeks to boost the world’s third-largest economy. He has offered support to help the country’s Web3 businesses grow.

Categories
Market News Top Crypto News

BlackRock Partners With Coinbase in Crypto Market Expansion – Top Crypto Updates

BlackRock partners with Coinbase in crypto market expansion

The world’s largest asset manager, BlackRock Inc., is partnering with Coinbase Global Inc. to make it easier for institutional investors to manage and trade Bitcoin. Top BlackRock clients will be able to use its “Aladdin” investment-management system to oversee their exposure to Bitcoin, stocks, and bonds. The system will also facilitate financing and trading on Coinbase’s exchange.

Crypto prices today: Bitcoin up 1%, ETH rises 1.9%

Bitcoin is currently trading at $23,220.65, an increase of 0.98% over the previous day. Ethereum rose 1.87% over the last 24 hours to $1,661.93. Solana rose 2.97% to $40.1, while Cardano is trading higher by 1.7% at $0.510. Polygon (MATIC) rose 3.1% to $0.924. The global crypto market cap stands at $1.09 trillion, a 1.78% increase over the previous day.

Binance, Mastercard launch Bitcoin Rewards Card in Argentina

Binance and Mastercard have launched a prepaid rewards card in Argentina to help citizens spend crypto on everyday goods. The card will let users buy things and pay bills with Bitcoin and other cryptos. It will convert the crypto users hold on the Binance app into fiat currency (US dollars or Argentine pesos) in real-time at the point of sale.

Instagram adds Flow blockchain NFTs; FLOW token jumps 44%

Meta’s Instagram has added support for Flow-based NFTs as it expands its NFT initiative into more than 100 total countries. FLOW’s price has surged as a result, up about 44% over the past 24 hours. Instagram’s expanding integration lets collectors showcase their verified Flow NFTs on their accounts in Meta’s photo-sharing service. 

Halliday raises $6M for ‘Buy Now, Pay Later’ Ethereum NFTs

Web3 startup Halliday has raised $6 million in a new seed round led by Andreesen Horowitz (a16z) to change how gamers buy and use digital assets in virtual worlds. The platform gives gamers a “play now, pay later” option. It aims to make in-game purchases and proof of ownership for NFTs more affordable and convenient for gamers.

Categories
Market News Top Crypto News

Binance Gets License to Operate in Spain – Top Crypto Updates

Binance gets license to operate in Spain

The Bank of Spain has allowed Binance’s Spanish subsidiary to register as a virtual asset services provider (VASP). The registration will allow Binance to offer crypto asset exchange and custody services in Spain. The company will have to comply with the central bank’s anti-money laundering and counter-terrorist financing (AML/CTF) rules. The approval comes after authorities in France and Italy allowed Binance to offer crypto-related services in May.

Crypto prices today: Bitcoin, ETH up 0.3%

Bitcoin is currently trading at $20,467.21, an increase of 0.29% over the previous day. Ethereum rose 0.33% over the last 24 hours to $1,144.63. Solana fell 0.05% to $35.16, while Cardano is trading higher by 0.68% at $0.452. XRP rose 1.8% to $0.325. The global crypto market cap stands at $910.91 billion, a 3.43% decline over the previous day.

CoinFLEX enters $84 million arbitration against ‘large individual customer’

Crypto trading platform CoinFLEX has detailed its strategy to combat its current liquidity crisis. The company has entered arbitration in Hong Kong to recover $84 million in losses from a “large individual customer,” claimed to be prominent Bitcoin evangelist Roger Ver. The customer allegedly defaulted on a massive position last month and failed to honor a contract with CoinFLEX.

Argentina-based Ripio to launch Ethereum sidechain, Web3 wallet

Argentina-based crypto exchange Ripio announced the launch of two products. The first one is an educational textbook to help newcomers navigate the crypto market. The second product is a Web3 wallet that the company aims to position as an easy gateway to the metaverse. Ripio is also working on developing a solution to facilitate internal transactions and promote the growth of the Ripio ecosystem.

Celsius lost over $350 million in DeFi: Report

As per a report from blockchain analytics firm Arkham Intelligence, crypto lender Celsius deployed over $1 billion of assets in decentralized finance (DeFi) and incurred over US$350 million in losses. It also handed over about $530 million in corporate funds to an asset manager who used high-risk leveraged crypto trading strategies. Those trades resulted in forced liquidations worth $61 million.

The troubled crypto firm has hired new lawyers to carry out its restructuring process. Last month, Celsius paused withdrawals for customers to stabilize liquidity and operations.

Categories
Market News Top Crypto News

Coinbase to Launch ‘Nano’ Bitcoin Futures – Top Crypto Updates

Coinbase to launch ‘Nano’ Bitcoin Futures via derivatives exchange

Coinbase Derivatives Exchange (formerly known as FairX) is launching its first crypto derivatives product this month. The CFTC-regulated futures exchange will launch its Nano Bitcoin Futures (BIT) on June 27. Coinbase is also awaiting regulatory approval on its own futures commission merchant (FCM) license to offer margined futures contracts for its clients.

Crypto prices today: Bitcoin rises 1.2%, ETH up 3.2% 

Bitcoin is currently trading at $20,815.18, an increase of 1.27% over the previous day. Ethereum is up 3.2% over the last 24 hours to $1,135.97. Solana rose 4.3% to $37.96, while Cardano is trading higher by 2.47% at $0.486. Avalanche (AVAX) surged 10.56% to $19.20. The global crypto market cap stands at $926.59 billion, a 1.18% increase over the previous day.

Binance teams up with Cristiano Ronaldo for NFT push

Binance announced a multi-year non-fungible token (NFT) partnership with football legend Cristiano Ronaldo. With this partnership, the firm plans to launch a global marketing campaign to promote Web3 and provide football fans with a compelling entry point into the NFT market.

Solana Labs launches mobile platform; reveals smartphone

Solana Labs has announced an Android-based software kit for developing mobile Web3 apps. “Solana Mobile Stack” (SMS) is an open-source software kit designed to enable the development of native Android apps built around the Solana blockchain. The firm will also release its own android smartphone called Saga, which will be released in 2023.

Indian govt gives clarity on taxation of digital token transactions

The Indian government has brought in some much-needed clarity in the matter of taxing digital token transactions. The Union Budget 2022-23 had declared a 30% tax on income from crypto from the new financial year and a 1% TDS on all crypto transactions starting July 1. Now, the Central Board of Direct Taxes has clarified how firms could comply with the revised tax.

According to the new rules, exchanges will have to deduct tax from the crypto buyer’s side in a transaction. This tax must be paid to the Centre within 30 days of the end of the month during which the deduction was made.

Categories
Market News Top Crypto News

EPL Files Crypto, NFT Trademarks – Top Crypto Updates

English Premier League files crypto, NFT trademarks

The English Premier League (EPL) has filed two cryptocurrency and NFT trademarks in the U.S. EPL is the top level of professional English football, comprising 20 teams. The two filings pertain to the U.S. use of trademarks associated with the league, one centered on the league’s name and logo. The trademark filings cover the creation and sale of digital assets, virtual clothing, cryptos, and media files verified by NFTs.

Crypto prices today: Bitcoin down 5.8%, ETH falls 7%

Bitcoin is currently trading at $29,504.87, a decline of 5.8% over the previous day. Ethereum fell 7.14% over the last 24 hours to $1,754.51. Solana fell 6.7% to $38.98, while Cardano is trading lower by 6.31% at $0.584. Avalanche (AVAX) crashed 11.7% to $23.69. The global crypto market cap stands at $1.21 trillion, a 5.12% decline over the previous day.

SEC targets Binance’s BNB ICO for potential violations: Report

As per a Bloomberg report, the Securities and Exchange Commission (SEC) is revisiting the origins of Binance’s Coin (BNB) for potential violations of securities regulations. The probe comes just as Reuters released the results of an unrelated investigation in which it claims that at least $2.35 billion in illicit funds have been laundered through Binance between 2017 and 2021.

IRA Financial Trust sues Gemini over $36M theft of Bitcoin, ETH

IRA Financial Trust has announced a lawsuit against crypto exchange Gemini. The company manages individual retirement accounts in non-traditional assets such as Bitcoin. IRA Financial Trust lost $36 million in a crypto hack in February. It used New York-based Gemini to hold its digital assets. IRA alleges that Gemini “did not have proper safeguards in place to protect customer crypto assets.”

Indonesian exchange Pintu raises $113M to meet country’s crypto boom

Indonesian crypto exchange Pintu has raised $113 million in a Series B funding round with investments from venture capital firms. Pintu plans to use the capital to build out new features, including additional supported tokens and blockchains and products. It plans to continue with its aggressive hiring plans to help address the booming crypto market in Indonesia.

Categories
Market News Top Crypto News

Japan Passes Landmark Stablecoin Bill – Top Crypto Updates

Japan passes landmark Stablecoin Bill for investor protection

Japan’s Parliament has passed a legal framework around stablecoins. It aims to provide a safety net for investors in the wake of last month’s TerraUSD collapse that resulted in multi-billion losses. Stablecoins will be considered as digital money and must be linked to the yen or another legal tender, guaranteeing holders the right to redeem them at face value.

Crypto prices today: Bitcoin up 1.5%, ETH down 0.4%

Bitcoin is currently trading at $30,362.81, an increase of 1.5% over the previous day. Ethereum fell 0.4% over the last 24 hours to $1,813.5. Solana rose 2.7% to $40.55, while Cardano rose 2.4% at $0.584. Avalanche (AVAX) rose 2.5% to $24.05. The global crypto market cap stands at $1.25 trillion, a 1.46% increase over the previous day.

New York Senate passes Bitcoin mining moratorium

The New York State Senate passed a bill targeting proof-of-work (PoW) mining early to address some of the environmental concerns surrounding cryptos. The bill will impose a two-year moratorium on any new PoW mining projects powered by carbon-based fuel in the Empire State. Existing mining firms or ones currently undergoing the permit renewal process will be allowed to continue operations. 

Binance, The Weeknd launch ‘crypto-powered’ world tour

Crypto exchange Binance will sponsor musician The Weeknd’s upcoming world tour. The partnership will feature multiple non-fungible token (NFT) initiatives and a $2M donation to the artist’s XO Humanitarian Fund. Binance claims it will be the first global concert tour to tap Web3 tech for fan experiences.

Bitstamp launches Earn product for ETH, Algorand in US

Crypto exchange Bitstamp has launched the Bitstamp Earn product to American investors. The product is meant to be a turn-key Ethereum (ETH) and Algogand (ALGO) staking solution. Investors fund their Bistamp accounts and then collect staking rewards. Bitstamp takes a fee on the yield customers earn.

Categories
Market News Top Crypto News

GameStop Launches Digital Wallet for Crypto, NFTs – Top Crypto News

GameStop launches digital wallet for crypto, NFTs

GameStop announced a digital wallet that allows gamers to send, receive, store and use virtual currencies and NFTs across decentralized apps. The wallet will also allow users to buy and sell NFTs on GameStop’s upcoming NFT marketplace, which is expected to launch by the end of July.

Crypto prices today: Bitcoin, ETH falls 3.5%

Bitcoin is currently trading at $29,363.5, a 3.5% decline over the previous day. Ethereum fell 3.4% over the last 24 hours to $1,982.4. Solana fell 6.6% to $49.7, while Cardano is trading lower by 4.8% at $0.519. Avalanche (AVAX) crashed 8.8% to $29.33. The global crypto market cap stands at $1.26 trillion, a 3.4% decline over the previous day.

FTX held acquisition talks with Webull, Apex, Public.com: Report

FTX has reportedly kicked off acquisition talks with at least three brokerage startups— Webull, Apex Clearing, and Public.com. The move could mean that FTX is making another serious push into stock trading. All three companies are registered brokerages with the Financial Industry Regulatory Authority (FINRA). This means that they can buy and sell securities on their own or on clients’ behalf.

Magic Johnson launches NFT collection on NBA Top Shot

Basketball legend Earvin “Magic” Johnson is the latest athlete to jump into the digital art market. He has launched “The Anthology: Magic Johnson” NFT collection on NBA Top Shot. The collection will drop on June 7. It will comprise 1,600 NFT packs that include moments from his career, with a price tag of $399 per pack. 

‘India needs regulation before investments scales up’: Binance APAC Head

“Blockchain startups are what garnered the attention of Binance and many global tech experts and investors in India,” said Leon Foong, Head of APAC at Binance. He believes the Indian market has some fundamental competitive advantages— a very sizeable market and a large number of well-trained engineers. He further said a clear, progressive, and pro-innovation regulatory framework is necessary to boost investments in the crypto space.

Categories
Market News Top Crypto News

Binance Recovers $5.8M Linked to Axie Infinity Hack – Top Crypto News

Binance recovers $5.8M linked to Axie Infinity hack

Crypto exchange Binance has recovered $5.8 million worth of stolen funds originating from an unprecedented Axie Infinity exploit in March. The hackers distributed the funds over 86 accounts. The massive $625 million exploit was tied by US security officials to North Korea’s “Lazarus” hacker group.

Crypto prices today: Bitcoin falls 3.2%, ETH down 2.9%

Bitcoin is currently trading at $40,537.1, a 3.23% decline over the previous day. Ethereum is down 2.9% over the last 24 hours to $2,994.9. Solana fell 4.3% to $101.69, while Cardano is trading lower by 3.43% at $0.911. Polkadot (DOT) fell 4.87% to $18.22. The global crypto market cap stands at $1.88 trillion, a 2.59% decline over the previous day.

Bitcoin firm Crusoe Energy raises $505M to grow flare-gas mining biz

Crusoe Energy Systems has raised $350 million in a Series C round led by G2 Venture Partners. It has also secured up to $155 million in credit from SVB Capital, Sparkfund, and Generate Capital. The US-based firm converts natural gas that would otherwise go to waste into power for Bitcoin mining.

India needs a single crypto regulator, says Polygon Co-Founder

India needs a single regulator to oversee all crypto-related matters, said Sandeep Nailwal, co-founder of Ethereum-scaling tool Polygon. He said the creation of a collective authority composed of representatives from the Reserve Bank of India, Securities & Exchange Board of India (SEBI), the Goods & Services Tax Council (GS), and the Finance Ministry would encourage projects like his own to set up shop in the country.

Solana-based climate change project employs ‘NFTrees’ to save rainforests

GainForest has partnered with the Environmental Ministry of Paraguay (MADES) to protect thousands of hectares of forest in Gran Chaco Americano. It is one of the most vulnerable areas to climate change, and one of the planet’s main carbon sinks. Those who provide donations to the project receive data drops and wildlife camera pictures connected to indigenous tribes, all in the form of non-fungible tokens, dubbed “NFTrees.”

Switzerland currently has the most profitable Bitcoin traders worldwide: Report

A study by online investing news and education platform Invezz revealed that Switzerland currently has the most profitable Bitcoin traders in the world. The country has the highest gains per investor at $1,268. However, only 1.8% of the country is invested in crypto. India was ranked 4th for the percentage of the population investing in crypto.

Categories
Market News Top Crypto News

New Russia Sanctions Include Crypto Wallets Targeted by EU – Top Crypto News

New Russia sanctions include crypto wallets targeted by EU

The European Union has targeted crypto wallets, banks, currencies, and trusts in its fifth package of sanctions on Russia. This move will allow EU to close potential loopholes that could allow Russians to move money abroad. Crypto wallets allow individuals to keep the password that gives them access to send, receive and spend crypto.

Crypto prices today: Bitcoin falls 1.2%, ETH down 2.2%

Bitcoin is currently trading at $42,248.4, a 1.18% decline over the previous day. Ethereum is down 2.23% over the last 24 hours to $3,176.1. Solana fell 1.7% to $110.3, while Cardano is trading lower by 2.5% at $1.02. Avalanche (AVAX) fell 4.85% to $79.80. The global crypto market cap stands at $1.94 trillion, a 1.94% decline over the previous day.

MobiKwik withdraws e-wallet services from crypto exchanges

MobiKwik has disabled its e-wallet services from all major crypto exchanges in India from April 1, according to senior executives from several crypto exchanges. The MobiKwik option continues to appear on some crypto apps, but the services are not functioning. Coinbase has also stopped payment services through United Payments Interface (UPI) on its platform for Indian users just three days after its launch in the country.

The withdrawal follows a statement published by the National Payments Corporation of India (NPCI), which operates UPI. On April 7, NPCI said they were not aware of any virtual digital asset exchange using UPI for transactions. 

Binance gets approval to operate as crypto broker in Abu Dhabi

Binance has received provisional approval to operate as a broker-dealer in virtual assets in Abu Dhabi. The company will be able to offer its services regarding virtual asset offerings to customers across the Middle East and North Africa (MENA) region through its subsidiary Binance (AD) Limited.