Finance and Business News

As part of a new campaign that runs from August 10 to October 31, 2022, renowned Japanese financial services firm Shinsei Bank will begin giving incentives to customers in either XRP or BTC. The maximum rewards in the campaign are worth 8,000 Japanese Yen, which are currently worth about $60. According to a local news report, […]

The decentralized exchange platform dYdX has reported blocking accounts that had previously interacted with Tornado Cash, just days after the US Office of Foreign Assets Control (OFAC) prohibited American residents from interacting with Tornado Cash. According to dYdX’s official announcement, the platform cannot seize consumer funds. Users will continue to have complete control over the […]

Binance Labs, the venture capital arm of the crypto exchange Binance, that majorly focuses on equity & token investments in Web3 infrastructure, gaming & social platforms, has announced a strategic investment in Web3 infrastructure provider Ankr, well-known for introducing BNB Liquid Staking and building some of the BNB Chain’s core infrastructures, notably its Erigon upgrade. […]

Iran, one of the most powerful economies in the Middle East, is said to have placed its first import order using digital assets. The initiative took place earlier this week and contained goods worth $10 million. The move comes months after the Ministry of Trade and the Central Bank of Iran (CBI) inked a deal […]

After the November record of $69,000, BTC lost more than 75% of its price – in June, its price fell below $18,000 and later corrected to a level of just over $20,000. The main cryptocurrency pulled the entire market with it – its capitalization decreased by more than a trillion dollars, and the value of […]

The expansion of the Metaverse as a development environment is becoming an increasingly important priority for Chinese businesses. Companies have made significant investments in both their hardware and software despite the top-down control exercised by the state. One of these companies, the Taiyi Group, has recently made the announcement that it has acquired Huobi Global’s […]

Beanstalk Farms (BEAN), an Ethereum-based algorithmic stablecoin project that previously suffered a disastrous $77 million governance attack, has officially relaunched its system. In a statement, Beanstalk said that the attack had made it stronger than before, most likely referring to the governance and security of the protocol. Notably, Beanstalk’s protocol and its governance were put on hold […]

The second quarter (Q2) sales for American digital payments provider Block Inc., previously Square, fell by 6% year over year (YOY) to $4.4 billion. Despite exceeding Wall Street’s forecast of $4.35 billion, the results nonetheless showed a $208 million loss for the quarter, according to the Associated Press. Block shares dropped 5.35 percent to $84.90 in […]

The renowned fintech company Revolut has announced that it will increase its crypto-focused staff by 20% across the United Kingdom, the United States, and the European region in the coming six months. The company has opened 13 industry-related job posts, which includes crypto legal professionals, software engineers, crime prevention and financial compliance experts. Moreover, Revolut […]

The biggest digital asset investment group in Europe, CoinShares, has recently revealed a loss of more than $21 million during the Terra collapse. In its quarterly financial report, the company laid out its performance during the past three months and the upcoming investments for this quarter. Predictably, the asset management firm disclosed a significant loss on […]

On Tuesday, the web3-focused Blockchain company Alchemy announced that it has joined hands with innovation hub Aster Network, a parachain of the Polkadot Network. The two firms will collaboratively aim to support Web3 projects by powering developer tools on the network. Excited to announce a new partnership with @AstarNetwork ! 😃 This is our first step into […]

California-based renowned investment and trading platform Robinhood was among the crypto firms forced to let off some of their employees this year due to the bear market and its associated negative implications. In April, the company laid off 9% of its full-time employees. However, according to Vlad Tenev, Co-Founder and CEO of Robinhood, the previous […]

Bitcoin supporter and billionaire who is known for its positive and motivating Twitter posts for Bitcoin holders, Michael Saylor, has stepped down as the Chief Executive Officer of MicroStrategy. Moreover, from August 8, 2022, Saylor will assume the role of Executive Chairman of the board of Directors. Notably, the president of the company, Phong Le, […]

On Monday, the United States Attorney’s Office in California revealed in a press release that Dropil co-founders were sentenced to federal prison for scamming investors to steal around $1.9 million. During 2017’s crypto ICO craze, Jeremy McAlpine and Zachary Matar founded a crypto company established in Belize and operating in California, dubbed Dropil. The company developed […]

As one of the most forward-thinking regulators in the world, the Monetary Authority of Singapore (MAS) is on track to consult with the public regarding the regulations of stablecoins in the country.  This revelation was made by Tharman Shanmugaratnam, Senior Minister and Minister in charge of MAS, who was grilled by lawmakers on the state […]

Justice Aedit Abdullah granted a moratorium to the Singapore-based cryptocurrency lender Vauld Group that would last until November 7. The company will benefit from some relief from the action because its 147,000 creditors will no longer be able to sue the company. The firm requested extra time during the court hearing on Monday. Due to […]

The United States has decided to give up to $10 million for providing valuable information in connection with North Korean crypto hacking groups. This amount is double the $5 million bounty promised by the country in March this year. The American government has been dealing with North Korean cyber groups for years. Such entities were responsible for […]

A recent global crypto readiness report explored the digital asset regulations and taxations rules in each country, the number of blockchain startups, the number of crypto ATMs, and the interest in the market per capita to find the most crypto-ready country in the world this year. The shocking revelation states that the special administrative region of China […]