BUSINESS
Wire Network launches unique crypto interoperability protocol
The UPAP wallet integrates with any blockchain and supports Bitcoin, Ethereum, Solana, Cardano, Wax and Algorand, among others
BUSINESS
eBay acquires NFT marketplace KnownOrigin
The move comes a month after eBay announced its debut collection of NFTs in partnership with Tezos and Polygon-based NFT platform OneOf. Manchester-based KnownOrigin has facilitated an NFT trading volume of $7.8 million since its launch in 2018.
BUSINESS
Crypto Conversations | How NFTs are supporting Ukraine's cause in the war against Russia
With support pouring in from across all the world, NFTs are emerging as the preferred medium for raising awareness and funds for Ukraine’s fight
BUSINESS
Qatar Central Bank in ‘foundation stage’ of issuing digital currency
Digital currencies are a technological innovation that usher in a new era of fast, cheap, and more accessible financial services, says QCB governor Sheikh Bandar bin Mohammed bin Saoud Al Thani
BUSINESS
Crypto trading platform FTX bails out lender BlockFi with $250 million credit facility
BlockFi is among the major crypto firms that have been impacted by bearish crypto market sentiments. The company is slashing its headcount by around 20 percent. In February, it agreed to pay a $100 million penalty to settle an investigation by the Securities and Exchange Commission and other agencies into its high-yield accounts.
BUSINESS
Ukraine sells CryptoPunk NFT to aid war efforts
The sale helped raise over $100,000 for Ukraine’s war effort. Over $135 million in cryptocurrency donations were raised by mid-May.
BUSINESS
Blockchain firm MetaJuice to launch NFT marketplace
To kick off the marketplace, IMVU is collaborating with metaverse-native luxury fashion house Auroboros to host a design challenge. The challenge is to create a couture digital design using iconic symbols and textures inspired by nature, created by Auroboros.
BUSINESS
Crypto gloom: Investors use dips for gains, seek clarity from govt
Investors want clarity on long-term crypto transactions, which they say are untenable if the government is not supportive. The government has implemented a 30 percent tax on virtual assets.
BUSINESS
Bitcoin, ethereum slide as crypto sell-off intensifies, El Salvador President says ‘enjoy life’
After briefly making a low of $17,708, bitcoin rebounded to trade around $18,100 but still down 12 percent in the last 24 hours
BUSINESS
Crypto carnage: Bitcoin breaks $19k, Ethereum below $1k
According to experts, the confidence level among investors dropped when the market capitalisation fell below $900 million and over $100m of Bitcoin futures contracts in the last 24 hours were liquidated.
BUSINESS
Crypto lending platform Babel Finance halts withdrawals citing ‘liquidity pressures’
Last month, the company had completed an $80 million Series B financing round, attaining a valuation of $2 billion. Babel limits its business to Bitcoin, Ethereum, and stablecoins, and serves a select clientele of about 500 customers
BUSINESS
Panama’s President vetoes Bill to regulate crypto assets
Says, the project conflicts with the country’s existing laws; won’t sign the bill without additional anti-money laundering rules
BUSINESS
SEC initiates investigation into insider trading in crypto exchanges, says Fox Business
The probe follows the collapse of the Terra LUNA token, in which investors lost around $40 billion when its peg to the US dollar was severed.
BUSINESS
Ukraine-based crypto firm announces hiring amid war, market slump
A bear market is forcing crypto companies to lay off employees, but Everstake intends to hire more, having prepared for the crash.
BUSINESS
Coinbase lays off 18% staff amidst crypto gloom
The company says a recession is about to begin after a 10-year economic boom. CEO Brian Armstrong says it is clear the company had over-hired. Already, a host of crypto exchanges have slashed workforces. Binance, however, continues to hire.
BUSINESS
Bitcoin tumbles to 52-week low; El Salvador minister unperturbed
The selloff in digital currencies came ahead of a possible interest rate hike by the US Federal Reserve this week
BUSINESS
Amid market rout, Crypto.com, BlockFi lay off staff
The ongoing crypto downturn, macroeconomic and geopolitical factors have seen a slew of crypto companies reducing headcount to extend their runways.
BUSINESS
Cryptocurrency market cap falls below $1 trillion, Binance suspends BTC withdrawals
The combined market capitalisation of cryptos has fallen to $969 billion, according to data from Coinmarketcap
BUSINESS
Crypto lending platform Nexo offers to buy assets of rival Celsius
The offer to buy Celsius's assets ends on June 20.
BUSINESS
Crypto Lending Firm Celsius Pauses Withdrawals, Tanks 50%
The firm,led by American entrepreneur Alex Mashinsky had about $12 billion in customer assets as of May across 1.7 million users.
BUSINESS
Mastercard to allow NFT purchases with cards
A survey showed that people interested in buying digital tokens want more flexibility — being able to pay with crypto for everyday purchases or using a credit or debit card to buy an NFT.
CRYPTOCURRENCY
DeFi loses 45% of value since April-end in fallout of Terra collapse
The Blockchain gaming category is resisting the crypto crash and adding investors. In May, Dapper Labs announced a $725 million fund to accelerate growth in the Flow ecosystem along with Andreessen Horowitz committing $4.5 billion to its Crypto Fund 4.
BUSINESS
OpenSea to step up efforts in preventing scams, thefts
Working with key rights holders to build image-detection models for automatic takedowns; to expand this work in the coming months, says co-founder and CEO Derin.
BUSINESS
Most US retailers give high priority to enabling crypto payments: Deloitte
Retail organisations in the US are widely receptive to accepting digital currency payments, spurred by the changing preferences of the younger generations.
