Tag: crypto exchanges

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Google Partners With Coinbase to Accept Crypto Payments – Top Crypto Updates

Google partners with Coinbase to accept crypto payments

Google Cloud has partnered with crypto exchange Coinbase to drive Web3 innovation. The tech giant will receive crypto payment via an integration with Coinbase. Crypto payments will initially be rolled out to a handful of customers involved in the Web3 industry. Google will also use Coinbase’s custody service, Coinbase Prime.

Under the agreement, Coinbase will use Google Cloud to build its advanced exchange, grow data services, and process blockchain data at scale.

Crypto prices today: Bitcoin falls 0.5%, ETH down 1.1%

Bitcoin is currently trading at $19,031.7, a decline of 0.54% over the previous day. Ethereum is down 1.13% over the last 24 hours to $1,281.16. Solana fell 3.98% to $30.07, while Cardano is trading lower by 7.18% at $0.365. Avalanche (AVAX) fell 4.69% to $15.28. The global crypto market cap stands at $908.69 billion, a 1.62% decline over the previous day.

Crypto.com enters France, invests $145M in Paris HQ

Crypto platform Crypto.com will set up its European regional headquarters in Paris. The firm will invest 150 million euros ($145.7 million) in France to support the establishment of its market operations. The cash will go towards setting up its European HQ in the capital and hiring local talent in the fields of compliance, business development, and product.

Last month, France’s market authority AMF gave Crypto.com regulatory approval, registering it as a digital asset service provider. 

Crypto platform Pillow raises $18 million in Series A round

Crypto investment platform Pillow (run by Pillow Digital Technologies Pte Ltd) has secured funding of $18 million in a Series A round co-led by Accel, Quona Capital, and Jump Capital. The digital personal finance platform aims to accelerate the adoption of crypto services in emerging economies including those in Africa and Southeast Asia.

Indian crypto exchanges praise OECD reporting framework

Indian crypto exchanges are cheering the new tax reporting framework released by the Organization for Economic Co-operation & Development (OECD). The framework ensures “the collection and automatic exchange of information on transactions for relevant crypto assets”. It covers exchanges, brokers, and ATM operators that facilitate exchanges between crypto assets.

Crypto exchanges are also hoping the Crypto-Asset Reporting Framework (CARF) of the OECD will prompt the Indian government to frame its own regulations and lower taxes, helping revive the crypto market.

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ED Probing Crypto Exchanges for Alleged Laundering – Top Crypto Updates

Bitcoin cryptocurrency representation is pictured on a keyboard in front of binary code in this illustration taken September 24, 2021. REUTERS/Dado Ruvic/Illustration/file photo

ED probing crypto exchanges for alleged laundering of over Rs 1,000 crore

The Enforcement Directorate (ED) is probing at least ten crypto exchanges for allegedly laundering more than Rs 1,000 crore as crime proceeds of the accused companies in an instant loan app case. Several loan apps had reportedly approached these exchanges to buy crypto worth Rs 100 crore and send them to international wallets. The crypto exchanges did not conduct any due diligence and also failed to raise suspicious transaction reports.

Crypto prices today: Bitcoin up 7%, ETH jumps 12%

Bitcoin is currently trading at $24,550.8, an increase of 7% over the previous day. Ethereum jumped 12.4% over the last 24 hours to $1,888.64. Solana rose 13.6% to $44.9, while Cardano is trading higher by 6.5% at $0.544. Avalanche (AVAX) rose 9.2% to $29.88. The global crypto market cap stands at $1.16 trillion, a 7.14% increase over the previous day.

CoinFLEX plans $84M restructuring in Seychelles

As per a Bloomberg report, crypto derivatives exchange CoinFLEX is seeking a quick resolution to its latest legal troubles as it files for restructuring in a Seychelles court. It intends to raise $84 million to pay off its debt. CoinFlex is seeking approval from depositors and the court on its proposed plan to issue depositors with rvUSD tokens, equity, and a locked version of its native token FLEX coin.

Ripple to consider buying bankrupt Celsius’ assets: Report

According to a Reuters report, Ripple Labs may be interested in purchasing assets of the insolvent crypto lending company Celsius. CEL, the native utility token of Celsius’ platform, jumped 23% on Wednesday following the news. In June, Celsius froze its users’ assets due to “extreme market conditions”. It quickly paid off its outstanding debts on various DeFi loans, reclaimed its collateral, and filed for bankruptcy a month later. 

Ethereum’s final testnet merge goes live

The final test environment network (testnet) merge before the Ethereum blockchain makes its move from proof-of-work to proof-of-stake has been completed successfully. Goerli was the last of three public testnets to run through a “dress rehearsal” of the merge. The mainnet merge is expected to occur towards the end of September.

Proof of Work is a competition between miners to solve cryptographic algorithms or equations and validate the transactions to earn blockchain rewards. Meanwhile, Proof of Stake implements randomly chosen validators to make sure transactions are reliable, compensating them in return with crypto.

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Crypto Exchanges Bet on Long-Term Products After Trading Volumes Crash – Top Crypto Updates

Crypto exchanges bet on long-term products after trading volumes crash

Crypto exchanges in India are now pushing offerings such as systematic investment plans (SIPs) and loans after trading volumes on their platforms got severely impacted by new taxation rules and falling valuations of crypto tokens. They hope that long-term products will attract more retail investors. An estimated 85-90% of trading volumes on top crypto exchanges such as WazirX, Zebpay, CoinDCX, and Bitbns were wiped out between January 1 and July 14.

Crypto prices today: Bitcoin rises 7.6%, ETH up 12%

Bitcoin is currently trading at $22,996.93, an increase of 7.6% over the previous day. Ethereum jumped 11.9% over the last 24 hours to $1,634.51. Solana rose 7% to $39.58, while Cardano is trading higher by 6.8% at $0.502. Polygon (MATIC) surged 7.9% to $0.877. The global crypto market cap stands at $1.05 trillion, a 7.13% increase over the previous day.

UK Commission aims to clarify crypto property law

The U.K. Law Commission has proposed changes to clarify how property laws apply to digital assets in England and Wales. The body will review laws to ensure that they can accommodate NFTs and crypto tokens as they continue to evolve and expand as stores of value, forms of payments, or equity or debt securities. The agency also suggests recognizing a new category of personal property called “data objects”.

Solana to open IRL retail store, Web3 ‘Embassy’ in New York

A Solana-themed store, called Solana Spaces, is set to open in New York City. The new store will be launched in collaboration with the Solana Foundation, the organization behind the blockchain network. Visitors can learn how Solana works and what Web3 is. The store will be like a “cultural center” or “embassy” for Solana, which is currently the ninth most valuable crypto in the world by market cap.

Meta’s metaverse division loses $2.8 billion in Q2

US-based Meta’s metaverse-specific division suffered losses of $2.81 billion in the second quarter (Q2 CY22). That puts the division’s year-to-date losses at $5.77 billion The division, Facebook Reality Labs (FRL), focuses on building the hardware, software, and content central to Meta’s push into the metaverse.