Tag: nfts

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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.

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Binance Labs Launches $500 Million Web3 Fund – Top Crypto Updates

Binance Labs announces $500 million Web3 fund

Binance Labs announced a new $500 million fund for Web3 projects. The fund is backed by internet investment capital firm DST Global and global venture capital firm Bayer Capital. The money will be pumped into projects that can extend the use cases of cryptos and drive the adoption of Web3 and blockchain technologies. Binance Labs is the investment arm of Binance, the world’s largest crypto exchange.

Crypto prices today: Bitcoin falls 5.5%, ETH down 6.3%

Bitcoin is currently trading at $29,913.17, a decline of 5.54% over the previous day. Ethereum fell 6.31% over the last 24 hours to $1,818.59. Solana crashed 12% to $39.72, while Cardano fell 6.5% at $0.576. Avalanche (AVAX) fell 9.6% to $23.43. The global crypto market cap stands at $1.24 trillion, a 5.25% decline over the previous day.

Solana Blockchain down for four hours due to bug

Solana was down for about four hours today after a bug blocked consensus. Network validators disabled the feature to restart the network. According to Solana co-founder Anatoly Yakovenko and other developers, the issue was due to a bug with the durable nonce feature of the blockchain.

[Durable transaction nonces are a mechanism for getting around the typical short lifetime of a transaction’s recent block hash (reference number for a block in the blockchain)].

CoinSwitch launches India’s first rupee-based crypto index CRE8

CoinSwitch launched the Crypto Rupee Index (CRE8), India’s first benchmark index to measure the performance of the rupee-based crypto market. CRE8 tracks the performance of eight crypto assets that represent over 85% of the total market capitalisation of cryptos traded in Indian rupee.

Former OpenSea employee charged in insider trading scheme

The US Justice Department has charged a former employee of OpenSea (an NFT marketplace) with fraud and money laundering. The federal government called it the “first-ever digital asset insider trading scheme.” Nathanial Chastian allegedly profited from his role in selecting which non-fungible tokens (NFTs) would be promoted on OpenSea’s homepage.

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India Finalizing a Crypto Consultation Paper – Top Crypto News

India is finalizing a crypto consultation paper: Govt. official

Economic Affairs Secretary Ajay Seth said a consultation paper on crypto is “fairly ready”. He was speaking at an event organized by the Finance Ministry. Seth has called for a global consensus on crypto regulation. The paper is a result of consultation from various domestic and international players, including the World Bank and the International Monetary Fund. 

The crypto industry in India has been struggling to cope with unclear rules and market volatility. Even payment processors are cutting off exchanges.

Crypto prices today: Bitcoin rises 3%, ETH up 3.5%

Bitcoin is currently trading at $31,537.8, a 3% increase over the previous day. Ethereum rose 3.6% over the last 24 hours to $1,970.87. Solana fell 1% to $46.21, while Cardano jumped 26.9% at $0.659. Avalanche (AVAX) fell 3.6% to $26.6. The global crypto market cap stands at $1.31 trillion, a 2.7% increase over the previous day.

South Korean authorities launch probe into Terra crash: Report

As per a report by JTBC (local TV network), South Korean prosecutors are looking into the recent Terra crash to see if there were signs of intentional price manipulation and other issues. The Seoul Southern District Prosecutors’ Office’s joint financial and securities crime investigation team has summoned former employees of Terraform Labs who were involved in the initial development of the Terra ecosystem in 2019.

Prada to launch 100 Ethereum NFTs

Luxury brand Prada will be launching 100 Ethereum NFTs on June 2nd as part of its latest Timecapsule apparel release. Buyers will receive a free airdropped NFT to go along with their physical merch purchase from Prada’s latest collaboration with artist Cassius Hirst.

Russia to consider using crypto for international payments

As per a report from Interfax, Russia is considering allowing crypto to be used for international payments. The move could allow the country to counter the sanctions implemented by western countries as a consequence of its invasion of Ukraine. However, Russia’s Central Bank and Finance Ministry are yet to reach a consensus on crypto regulation.

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ECB President Renews Calls for Crypto Regulation – Top Crypto News

ECB President renews calls for crypto regulation

European Central Bank President Christine Lagarde reiterated her concerns over cryptocurrencies and her desire for regulation. “My very humble assessment is that it is worth nothing, it is based on nothing, there is no underlying asset to act as an anchor of safety,” she said.

Crypto prices today: Bitcoin up 3.7%, ETH rises 4%

Bitcoin is currently trading at $30,485.34, a 3.7% increase over the previous day. Ethereum rose 4% over the last 24 hours to $2,054.06. Solana jumped 5.25% to $53, while Cardano is trading higher by 3.05% at $0.546. Avalanche (AVAX) rose 7.17% to $32.03. The global crypto market cap stands at $1.3 trillion, a 3.44% increase over the previous day.

India’s crypto sector needs ‘peace’ and ‘certainty’: CoinSwitch CEO

CoinSwitch CEO Ashish Singhal called for clearer/fair rules to resolve the regulatory uncertainty in India’s crypto space. “Users don’t know what will happen with their holdings— is the government going to ban, not ban, how is it going to be regulated? Regulations will bring peace and more certainty,” he said. Singhal was speaking at the World Economic Forum in Davos.

Manchester City FC partners with Quidd to launch new NFT collection

Manchester City FC has partnered with Quidd (a subsidiary of Animoca Brands) to launch a new 3D NFT collection. The football club has been a strong advocate of Web3. The latest NFT collaboration follows a partnership with Sony to take Premiership football to the metaverse.

Terra (LUNA) rallies over 55% in 24 hours after last week’s crash

TerraUSD (UST) surged over 10% to $0.07, while its sister crypto token Terra (LUNA) rallied more than 56% to $0.00021 over the past 24 hours. UST collapsed from its intended 1-to-1 peg to the dollar earlier this month and dragged LUNA down with it. Terra Labs’ CEO Do Kwon is facing legal prosecution in South Korea over the collapse of the two coins that wiped out billions of dollars from investors.

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Mastercard, Nexo Launch Crypto-Backed Payment Card – Top Crypto News

Mastercard, Nexo launch crypto-backed payment card

Crypto lender Nexo has partnered with global payments company Mastercard to launch the world’s first “crypto-backed” payment card. The card allows users to spend without having to sell their digital assets (such as Bitcoin), which are used as collateral to back the credit granted. The card is linked to a Nexo-provided, crypto-backed credit line. It can be used at 92 million merchants worldwide where Mastercard is accepted.

Crypto prices today: Bitcoin falls 3.2%, ETH down 4%

Bitcoin is currently trading at $39,021.2, a 3.25% decline over the previous day. Ethereum is down 4.14% over the last 24 hours to $2,917.5. Solana fell 4.9% to $97, while Cardano is trading lower by 7% at $0.88. Avalanche (AVAX) is down 5.5% to $73.4. The global crypto market cap stands at $1.81 trillion, a 3.76% decline over the previous day.

NBA Teases Ethereum NFTs for Playoffs After Launching Discord Server

The US National Basketball Association (NBA) has officially launched a new Twitter feed called NBAxNFT. The league plans to showcase all things intersecting basketball and Web3, including NFTs, gaming, and the metaverse. As part of that initiative, the NBA has established a Discord server, which already has more than 30,000 members. It also announced plans to release Ethereum NFTs tied to the current season’s playoffs.

Attacker drains $182M from Beanstalk Stablecoin Protocol

Beanstalk Farms, an Ethereum-based stablecoin protocol, was exploited for $182 million on Sunday. The attack was flagged on Twitter by blockchain security firm PeckShield. The market for Beanstalk’s BEAN stablecoin collapsed as a result of the attack. This flash-loan attack is the second nine-figure DeFi exploit in a month.

RocketX integrates 1inch and Binance to help users get best rates for tokens

RocketX Exchange has simplified crypto trading with the integration of Binance and 1inch, which supports 7 networks— Ethereum, BNB Chain (BSC), Polygon (Matic), Avalanche (AVAX), Gnosis, Arbitrum, and Optimism. This move will help users get the best rates for any token across 150+ exchanges on a single platform.

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Meta Files Trademarks for Crypto Tokens, Wallets – Top Crypto News

Meta files trademarks for crypto tokens, wallets, exchanges

Meta (formerly Facebook) has filed eight trademark applications for its logo to cover a wide range of digital purposes, including crypto tokens, wallets, and exchanges. Among the 8 trademark filings, six exclusively refer to crypto and blockchain-based technologies. Meta recently announced it’s looking to integrate NFTs on Instagram.

Crypto prices today: Bitcoin up 2.5%, ETH rises 3.4%

Bitcoin is currently trading at $43,122.5, a 2.5% increase over the previous day. Ethereum is up 3.4% over the last 24 hours to $3,054.32. Solana surged 6.3% to $97.11, while Cardano is trading higher by 14% at $1.10. Dogecoin (DOGE) jumped 11.6% to $0.136. The global crypto market cap stands at $1.96 trillion, a 2.77% increase over the previous day.

Fed’s Powell again raises alarms over ‘financial stability’ of cryptos

Federal Reserve Chairman Jerome Powell recently noted that new forms of digital money such as cryptocurrencies and stablecoins presented risks to the US financial system. “Our existing regulatory frameworks were not built with a digital world in mind,” he was quoted as saying. “There are potential financial-stability concerns for some crypto products,” Powell added.

Studio behind PUBG series to make Solana NFT games

South Korean game publisher Krafton, Inc. has revealed a long-term agreement with Solana Labs. Both entities plan to work together to develop and market blockchain and NFT-driven games that run on the Solana network. They also aim to explore co-investment opportunities. Krafton is the company behind PUBG: Battlegrounds, a popular battle royale shooter franchise that spans multiple platforms.

Coinbase adds Cardano staking rewards

Crypto exchange Coinbase now offers staking for ADA, the native cryptocurrency of the Cardano blockchain. In explaining the decision, senior product manager Rupmalini Sahu pointed to ADA’s top-10 market capitalization and its sustainable, flexible blockchain design. The design uses smart contracts to enable decentralized finance (DeFi), NFTs, and other activities on the network.

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Crypto.com Secures FIFA World Cup Sponsorship – Top Crypto News

Crypto.com secures FIFA World Cup sponsorship

Crypto exchange Crypto.com will be an official sponsor of the 2022 FIFA World Cup. The partnership will put the exchange’s branding all around the tournament’s Qatar venue, as well as within the stadium’s broadcast view. The total compensation for the deal was undisclosed.

Crypto prices today: Bitcoin down 0.2%, ETH falls 1.3%

Bitcoin is currently trading at $42,123.49, a 0.2% decline over the previous day. Ethereum is down 1.3% over the last 24 hours to $2,948.6. Solana rose 1.14% to $91.34, while Cardano is trading higher by 3.3% at $0.968. Meanwhile, Polkadot (DOT) rose 3.18% to $20.34. The global crypto market cap stands at $1.91 trillion, a 0.03% decline over the previous day.

El Salvador postpones Bitcoin Bond due to unfavorable crypto market

El Salvador’s Finance Minister, Alejandro Zelaya, announced that the country has postponed the issue of its Bitcoin-backed bond. It is waiting for crypto market conditions to improve. The government initially planned to issue $1 billion in bonds to investors between March 15 and March 20. They intend to convert $500 million into Bitcoin and use the other $500 million for infrastructure and Bitcoin mining.

NFL bans promotions on crypto, token deals

The National Football League (NFL) announced it will allow teams to seek limited three-year sponsorships from blockchain companies. However, the league introduced a ban on promotions featuring a crypto coin or token. The NFL has decided to allow promotional relationships with blockchain companies like Crypto.com, Coinbase, and FTX due to the growing popularity of crypto, NFTs.

Avalanche announces new ‘Core’ wallet at AVAX Summit

Avalanche announced it will launch its own wallet application called Core and add a Bitcoin bridging functionality. The two initiatives aim to simplify the user experience and bring more assets into the Avalanche ecosystem. Core will be a curated Web3 operating system that combines secure wallet architecture with technology not found in any other wallets. The announcements were made at the Avalanche Summit in Barcelona on Tuesday.

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Russians Liquidating Crypto in UAE as They Seek Safe Havens – Top Crypto News

bitcoin crosses $50000

Russians liquidating crypto in UAE as they seek safe havens

According to a Reuters report, crypto firms in the United Arab Emirates (UAE) are being flooded with requests to liquidate billions of dollars of virtual currency as Russians seek a safe haven for their fortunes. Some clients are using crypto to invest in real estate in the UAE. Others want to use firms there to turn their virtual money into hard currency and stash it elsewhere. Russian clients are afraid Switzerland will freeze their assets.

Crypto prices today: Bitcoin falls 1%, ETH down 0.3%

Bitcoin is currently trading at $39,770.6, a 0.97% decline over the previous day. Ethereum is down 0.36% over the last 24 hours to $2,578.12. Solana fell 2.4% to $80.4, while Cardano is up 1% to $0.804. Meanwhile, Terra (LUNA) jumped 3% to $90.13. The global crypto market cap stands at $1.73 trillion, a 1.12% decline over the previous day.

Crypto among Ukraine’s best weapons against Russia: Ethereum co-founder

Crypto has proven a powerful weapon for Ukraine in its battle against Russia, said Ethereum co-founder Joe Lubin. He added that the crisis in Eastern Europe is becoming “a point of no return” for crypto’s steady integration into global markets. Nearly $60 million in cryptocurrency has been channeled into Ukraine as donations so far.

Bored Ape Yacht Club slammed by crypto fans for new KYC project

Creators of Bored Ape Yacht Club (BAYC) have faced backlash from its fans after the company’s latest collaboration with Animoca Brands. The project requires users to undergo know-your-customer (KYC) verification. The ape community will need to reveal their photo identities and government documents to take part in BAYC’s latest project. BAYC had tweeted out a link to a website where fans can apply.

Asking for personal information underlines the whole purpose of crypto that offers anonymity to the collectors. 

Binance discusses crypto license with Dubai WTC

Binance is in discussions with Dubai World Trade Centre free zone for a virtual asset service provider license. The move comes off the back of Bahrain giving Binance an in-principal approval to be a crypto-asset service provider in the country. The global crypto exchange will support Dubai’s ambition to drive economic prosperity through digital innovation.

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NFT to Support Ukraine Goes Viral – Top Crypto News

Russian national will use sales of her burning passport NFT to support Ukraine

Olive Allen, a Russian national and artist who has lived in the United States for more than 11 years, has burned her mother country’s passport in the hopes of raising awareness and funds related to the military conflict in Ukraine. The auction of her burning passport NFT went live on the SuperRare marketplace on Friday.

Crypto Prices today: Bitcoin is down by more than 3%

BTC is trading more than 3% in the red and Ethereum is more than 4% down. Meta Speed game price increased by 8 times over the last 24 hours.

The Sandbox Surpasses 2 Million Registered Users

Metaverse game The Sandbox has recently reached the 2 million registered users mark amid its play-to-earn season 2 Alpha launch.

Cointelegraph partners with Nitro Network to bring digital mining and decentralized internet to the masses

Cointelegraph has partnered up with Nitro Network, to pioneer the future of a decentralized internet through the Non-Fungible Miner. NFMs are a unique innovation — an NFT that provides all users the ability to digitally mine Nitro’s native token, NCash, from anywhere in the world. 

Waves risks ‘death cross’ plunge after price rallies 88% in six days

A major rally in Waves’ price this week that saw it nearly double risks faltering in the coming sessions due to a “death cross” technical pattern. A death cross measure appears when an asset’s long-term moving average closes above its short-term moving average.

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NFT Market Cools in Feb as Trading on Ethereum Dips – Top Crypto News

NFT market cools in Feb as trading on Ethereum & Solana dips

Trading volume across the wider NFT market cooled down in February after a record-shattering month of NFT trading volume in leading marketplace OpenSea in January. OpenSea recorded nearly $3.65 billion worth of trading volume in February between NFT sales on Ethereum and Polygon. The data from Dune Analytics shows an approximate 27% month-on-month dip in trading volume on OpenSea in Feb.

Crypto prices today: Bitcoin down 4.8%, ETH falls 6.5%

Bitcoin is currently trading at $41,371, a 5% decline over the previous day. Ethereum fell 6.46% over the last 24 hours to $2,723.47. Solana crashed 8.5% to $91.86, while Cardano is down 6% to $0.87. Polygon (MATIC) declined by 5.12% to $1.54. The global crypto market cap stands at $1.83 trillion, an 4.34% decline over the previous day.

EU ‘taking measures’ to prevent Russia evading sanctions with crypto: Le Maire

The European Union (EU) is set to crack down on Russia’s ability to evade economic sanctions using crypto, said France’s Finance Minister Bruno Le Maire. “We are taking measures, in particular on cryptocurrencies or crypto assets which should not be used to circumvent the financial sanctions decided upon by the 27 EU countries,” he reportedly said.

Ethereum’s Infura cuts off users to separatist areas in Ukraine

Users of two ConsenSys software products in Venezuela, MetaMask and Infura, found themselves cut off from the Ethereum network. Many reported they had been blocked from their wallets. However, the blockade wasn’t meant for them. It was the result of adding IP addresses from two separatist regions in Ukraine: Donetsk and Luhansk. Infura, which hosts Ethereum nodes, says the problem was accidental and has been resolved. 

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Fed Chair Calls For Legal Action on Crypto – Top Crypto News

Fed Chair calls for congressional action on crypto amid Ukraine-Russia conflict

Federal Reserve Chairman Jerome Powell said there is a growing need for crypto regulations during testimony before the House Financial Services Committee. He said recent events in Ukraine have “underscored the need for Congressional action on digital finance, including cryptocurrencies.”

Crypto prices today: Bitcoin down 1%, ETH falls 1.7%

Bitcoin is currently trading at $43,451.8, a 1% decline over the previous day. Ethereum fell 1.7% over the last 24 hours to $2,915.5. Solana fell 2.7% to $99.7, while Cardano is down 3.5% to $0.92. Polygon (MATIC) declined by 1.16% to $1.61. The global crypto market cap stands at $1.90 trillion, an 1.87% decline over the previous day.

Ukraine now accepts Dogecoin donations amid Russian invasion

Ukraine is now accepting Dogecoin donations, said Vice Prime Minister Mykhailo Fedorov. This is the latest crypto-related move on behalf of the Ukrainian government to raise funds amid Russia’s invasion. Last week, the government’s official Twitter account shared Bitcoin and Ethereum addresses when it announced Ukraine would accept crypto donations.

SEC targets NFT creators, marketplaces over ICO-like sales: Report

According to a Bloomberg report, the US Securities and Exchange Commission (SEC) is probing NFT creators and marketplaces for regulatory violations. The probe is looking into whether NFTs are being utilized to raise money like traditional securities. The SEC has reportedly sent subpoenas related to the investigation. It is particularly interested in information about fractional NFTs.

US Treasury to monitor crypto, for sanctions evasion

In response to a letter from 4 Senate Democrats raising concerns about crypto’s potential use by Russia to avoid sanctions, Treasury Secretary Janet Yellen has said that the US will monitor the situation. The department would make sure crypto couldn’t be used to bypass sanctions against Russia.

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Ukrainians Buy Record Sums of Crypto on Binance – Top Crypto News

Ukrainians buy record sums of crypto on Binance after Russian invasion

Ukrainian citizens are buying record sums of Bitcoin to protect their holdings as they hold off an attack from Russia. An Arcane Research report showed Ukrainians were using crypto exchange Binance to buy stablecoin Tether and Bitcoin with the hryvnia. (One Ukrainian hryvnia currently is worth about $.033). Data shows that 24-hour Tether-hryvnia trading volume shot up from $6 million right before the invasion to ~$8.5 million.

Crypto prices today: Bitcoin rises 1.8%, ETH up 2.6%

Bitcoin is currently trading at $44,200, a 1.75% increase over the previous day. Ethereum rose 2.6% over the last 24 hours to $2,996.87. Solana jumped 8% to $104.1, while Cardano is down 0.1% to $0.96. Polygon (MATIC) is up 2.9% to $1.64. The global crypto market cap stands at $1.94 trillion, an 1.6% increase over the previous day.

US can regulate crypto without new law, says think tank

According to the Center for American Progress (CAP), US regulators can use existing laws to bring digital assets such as cryptocurrencies under their supervision without new congressional legislation. The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) could use the CAP report to inform their decisions on how to govern crypto.

18% of super-rich Indians invested in cryptos, NFTs in 2021: Report

According to Knight Frank’s Wealth Report, ~18% of Indian ultra high-net worth individuals (UHNWIs) invested in crypto assets in 2021 amidst rising popularity of crypto and non-fungible tokens (NFTs). UHNWIs are those who have a net worth of $30 million (about Rs 226 crore) or more. The global value of crypto assets was $2.4 trillion at the end of 2021, a 12-fold increase since early 2020.

Crypto exchange Bitbns to roll out IC15 index products

CryptoWire and Bitbns exchange have entered into an agreement for listing IC15, India’s first global crypto index. Trading of IC15 on Bitbns exchange will begin from April 1, 2022. CryptoWire claims to be a global crypto super app, while Bitbns is a homegrown crypto exchange.