Tag: kraken

Categories
Market News Top Crypto News

Binance to Acquire Rival FTX – Top Crypto Updates

Binance to acquire rival FTX amidst liquidity crunch

Binance has agreed to buy rival crypto exchange FTX, an outcome that followed days of speculation that FTX and Alameda Research faced a liquidity crisis. Concerns over FTX’s financial health reportedly triggered $6 billion of withdrawals in just three days. “Due to recent revelations that have come to light, we have decided to liquidate any remaining FTT on our books,” said FTX founder Sam Bankman-Fried. FTX’s native token FTT has lost ~90% of its value this week.

To learn more about Binance’s takedown of FTX, click here.

Crypto prices today: Bitcoin falls 7.3%, ETH crashes 12%

Bitcoin is currently trading at $18,317.14, a decline of 7.3% over the previous day. Ethereum fell 12.8% over the last 24 hours to $1,291.2. Solana crashed 27% to $20.26, while Cardano is trading lower by 2.7% at $0.374. Avalanche (AVAX) fell 6.9% to $15.59. The global crypto market cap stands at $905.57 billion, a 7.8% decline over the previous day. The crypto market has been rocked by the near collapse of FTX.

Kraken, Coinbase Suffer connectivity issues amid market crash

Amid Tuesday’s crypto crash, leading U.S. exchanges Kraken and Coinbase reported connectivity issues. Both exchanges said the issues were affecting their website and mobile services. Coinbase faced outages across its Coinbase.com, Pro, and Prime platforms. Trading became fully operational on both exchanges after a few hours.

Dubai presses for crypto firms to open offices

Dubai is heavily recruiting crypto companies to establish themselves in the emirate. However, its Virtual Assets Regulatory Authority (VARA), a dedicated regulator for the industry, is yet to release a comprehensive regulatory framework that companies can use to create or launch products. Officials have now assured local companies that the framework will be launched by the end of the year.

NTT Docomo to invest up to $4 billion in Web3

Japanese mobile operator NTT Docomo intends to invest up to $4.1 billion to concentrate on Web3 technology. It also intends to establish a Web3-focused company in 2023. NTT Docomo highlighted the following four crucial web3 enabling features: security, a cryptocurrency asset exchange, a blockchain wallet, and token issuance.

Categories
Market News Top Crypto News

Coinbase Posts Q3 Loss as Volumes Drop – Top Crypto Updates

Coinbase revenue declines 28% in Q3 as trading volume falls

Coinbase reported net revenue of $576 million for the third quarter (Q3 CY22), down 28% from the previous quarter. Transaction revenue fell 44% compared to Q2 as fewer users were active on the crypto exchange amidst a brutal bear market. Coinbase’s monthly transacting users dropped 5% and trading volumes fell 27% during Q3. The company’s total loss stood at $544.6 million.

Crypto prices today: Bitcoin up 1.1%, ETH rises 1.7%

Bitcoin is currently trading at $20,572.75, an increase of 1.17% over the previous day. Ethereum rose 1.71% over the last 24 hours to $1,578.24. Solana is up 1.56% to $32.41, while Cardano is trading higher by 3.5% at $0.411. Avalanche (AVAX) rose 1.6% to $18.98. The global crypto market cap stands at $1.03 trillion, a 1.35% increase over the previous day.

Kraken launches 70 ETH, Solana NFT collections on new marketplace

Crypto exchange Kraken has launched the beta version of its new platform for its non-fungible token (NFT) marketplace. The launch includes a curated offering of 70 top-selling NFTs on the Ethereum and Solana blockchains. Users can buy and sell NFTs within the Kraken ecosystem without incurring blockchain network fees (gas fees).

Goldman Sachs to standardize crypto data for institutional investors

Wall Street giant Goldman Sachs plans to provide an online resource that explains and categorizes cryptos for institutional clients. The service, called Datanomy, will help institutional investors get data and insights into hundreds of coins and tokens. Datonomy is a joint project with global index provider MSCI and crypto data firm Coin Metrics.

Canada plans crypto, stablecoin consultation

Canada’s federal government announced that it is launching a consultation on “cryptocurrencies, stablecoins, and central bank digital currencies.” This includes a legislative review addressing the financial stability and security of virtual digital assets.

A section of Canada’s Fall Economic Statement (a mini-budget doc) stated that cryptos are “transforming financial systems” and the country’s financial regulatory frameworks have to “keep pace.”

India’s crypto, Web3 industry forms new advocacy body

India’s crypto industry has formed a new advocacy body almost four months after the previous one was disbanded. The body will be called Bharat Web3 Association (BWA), a shift in branding toward Web3 from the earlier Blockchain and Crypto Assets Council (BACC). Leading members of the new association involve Polygon, Hike, Coin DCX, CoinSwitch Kuber, Zebpay, and WazirX.

Categories
Market News Top Crypto News

Nubank to Launch its Own Crypto in Brazil – Top Crypto Updates

Nubank to launch its own crypto in Brazil

Brazilian digital banking startup Nubank will launch its own crypto in the country next year, marking the latest move into digital assets by a large financial institution. The Warren Buffet-backed firm said the new token (called Nucoin) will act as a way to recognize customer loyalty and encourage engagement with Nubank products. It also plans to offer discounts and other perks to holders of the token.

Crypto prices today: Bitcoin, ETH down 0.6%

Bitcoin is currently trading at $19,039.27, a decline of 0.6% over the previous day. Ethereum is down 0.57% over the last 24 hours to $1,285.68. Solana fell 4.32% to $27.99, while Cardano is trading lower by 4.25% at $0.348. Avalanche (AVAX) fell 1.58% to $15.02. The global crypto market cap stands at $912.64 billion, a 0.93% decline over the previous day.

Fidelity to roll out ETH trading for institutions next week

Institutional clients of Fidelity Digital Assets will be able to trade ether (ETH) beginning Oct. 28. The move is the latest step towards making crypto available to institutional clients by Fidelity, the parent company of Fidelity Digital Assets. Earlier this month, the asset management firm said it started a new Ethereum Index Fund for accredited investors.

Kraken to comply with EU sanctions against Russia

Crypto exchange Kraken confirmed that it will be conforming to the European Union’s new sanctions package. The company’s announcement comes after the EU introduced a fresh sanctions package on Oct 6 aimed at punishing Russia for its aggression against Ukraine. The latest sanctions enforce a blanket ban on all payments flowing from the EU to Russia.

Tether USDT to be Available from 24,000 ATMs across Brazil

Tether plans to make its USDT token available at over 24,000 ATMs across Brazil. USDT is the world’s dominant stablecoin by market capitalization. To expand USDT’s presence in the country, Tether has partnered with payments company SmartPay. Stablecoins like USDT are typically tied to the value of the US dollar and collateralized by real-world assets audited by financial institutions in the US. 

Categories
Market News Top Crypto News

Helium Shifts to Solana Blockchain – Top Crypto Updates

Helium ditches own blockchain in favor of Solana

Helium community members have voted to move the decentralized WiFi network from its blockchain (officially known as HIP 70) to the Solana blockchain. The HIP 70 proposal concluded voting early Thursday morning with ~81% voting in favor of migration. Developers behind Helium proposed the migration to Solana to help scale the protocol through more efficient transactions as well as interoperability.

The move will transfer all tokens, applications, and governance to the Solana network.

Crypto prices today: Bitcoin falls 0.3%, ETH down 4%

Bitcoin is currently trading at $18,765.81, a decline of 0.38% over the previous day. Ethereum is down 4.1% over the last 24 hours to $1,267.68. Solana fell 0.68% to $31.30, while Cardano is trading higher by 0.14% at $0.443. Polkadot (DOT) rose 1.7% to $6.29. The global crypto market cap stands at $912.30 billion, a 0.7% decline over the previous day.

Bitcoin bear market is ‘healthy’ for crypto industry long term: Binance CEO

Binance CEO Changpeng Zhao said a four-year crypto market cycle is normal, and a bear market is healthier in the long term than a seemingly never-ending upward trend. He added that investors should not look at token prices as signs of how the crypto market is doing. Instead, he suggested investors look at the number of users buying & using crypto and the number of different blockchains and Web3 projects.

Jesse Powell steps down as CEO of Kraken

Jesse Powell, the controversial co-founder of crypto exchange Kraken, will step down as the company’s chief executive. He aims to spend more time on the company’s products, user experience, and broader industry advocacy. Powell will become chairman of Kraken’s board of directors.

Ethereum NFTs driving crypto adoption in Central, South Asia: Report

As per a Chainalysis report, non-fungible tokens (NFTs) may be the biggest driver of crypto adoption in Central, Southern Asia, and Oceania (CSAO). NFT-related actions accounted for 58% of all web traffic going to crypto services from this region in Q2 2022. Another 21% of traffic in the quarter went to websites of play-to-earn blockchain games like Axie Infinity and STEPN.