The People’s Bank of China (PBOC), the country’s central bank, has shut down a software firm over suspected involvement in cryptocurrency transactions. The central bank also warned organizations not to “provide premises, commercial display, advertising … and other services for cryptocurrency-related business activities.” China’s central bank warned companies on Tuesday against assisting cryptocurrency-related businesses as …
Monthly archives: July 2021
Crypto Exchange Binance Suspends Euro Deposits via SEPA Bank Transfers
Troubles at cryptocurrency exchange Binance continue as the platform is now reportedly suspending euro deposits via SEPA bank transfers. Binance says the suspension is temporary and it is due to events beyond its control. Binance’s Troubles Extend to SEPA Transfers Binance users reported Tuesday that they have received a notice from the exchange about the …
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Allied Payment Network Embeds Bitcoin Service, Will Hold BTC in Corporate Treasury
Payment service provider Allied Payment Network has partnered with New York Digital Investment Group, the bitcoin subsidiary of $10 billion asset manager Stone Ridge. Financial institutions using Allied’s platform will be able to offer their customers the option to buy, sell, and hold bitcoin. Furthermore, Allied will keep bitcoin on its balance sheet. Allied Payment …
Financial Watchdog FinCEN Recruits First-Ever Chief Digital Currency Advisor
Following the Financial Crimes Enforcement Network (FinCEN) explaining the misuse of cryptocurrencies is a national priority last week, the bureau announced on Tuesday it hired its first-ever chief digital currency advisor. FinCEN’s acting director Michael Mosier detailed that Michele Korver will be the bureau’s new crypto expert and she brings “a wealth of digital currency …
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Goldman Sachs: Ethereum’s popularity could see it become dominant store of value
Goldman Sachs said in a note to clients on Tuesday that the blockchain with the highest “real use potential” is Ethereum, suggesting its ETH could become the dominant digital store of value. As such, Goldman predicts the total market capitalization of ether (ETH) could overtake the total market cap for Bitcoin (BTC) in the coming …
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Sygnum becomes first bank in the world to offer Eth2 staking
Crypto-focussed Swiss bank, Sygnum Bank, has announced it has become the first bank in the world to allow its clients to stake Ether. According to the July 6 blog post, the firm’s clients can now stake ETH through Sygnum’s institutional banking platform to earn yields of up to seven percent annually. Sygnum describes itself as …
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Chinese banks tell staff to recruit up to 300 new digital yuan users each
Chinese banks have begun a hard sell of digital yuan wallets, asking staff to recruit hundreds of new users each year. According to a translation of a June 6 article from Shenlian Caijing, employees of top banks such as the Industrial and Commercial Bank of China and the Bank of Communications, along with four other …
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These Five Altcoins Flashing Signs of Life After Crypto Collapse: Analyst Michaël van de Poppe
Popular crypto strategist and trader Michaël van de Poppe says five altcoins are showing signs of life after enduring the marketwide collapse in May. Van de Poppe tells his 350,500 followers on Twitter that he’s watching the price action of decentralized application (DApps) platform Solana (SOL) as it looks to either breach resistance at $35.00 …
Alpha Finance Lab (ALPHA) rallies 50% as project fundamentals improve
Bitcoin (BTC) price continues to trade in a predictable range which has given traders confidence in trading altcoins and DeFi tokens. This translated to a 110% rally in the price of Alpha Finance Lab (ALPHA) over the past four days. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.30 …
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Bitcoin ETF applicants accuse the SEC of foul play
Last month, the Securities and Exchange Commission (SEC) delayed yet another Bitcoin ETF application, this time from Cboe Global Markets Inc. The U.S regulator said it would seek more public consultation on the matter before making a decision. That makes 13 Bitcoin ETFs currently pending approval, according to Market Insider. Some fund managers say this …
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Ripple CTO slams regulators as Barclays blocks Binance payments
Barclays UK customers have been blocked from transferring funds to Binance as the bank prohibited all credit and debit card payments to the exchange. Ripple’s (XRP) CTO David Schwartz turned to Twitter, calling for freedom of choice as the repercussions of the recent announcement made by the country’s financial watchdog keep unraveling. Pointing out the …
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Bitcoin Taproot Support Lags at 27% — Even Though Soft Fork Is Opt-in Supporters Beg Nodes to Update
On June 12, the crypto community celebrated the fact that the Bitcoin network locked in Taproot support in order to activate the largest upgrade the protocol has seen in four years. 24 days later, Taproot support via Bitcoin nodes has only reached 27.55% and upgrade supporters are pleading with the community to update their nodes. …
STASIS and Free TON DeFi Alliance Partners to Boost the Development of Free TON DeFi Ecosystem
sponsored Free TON, a decentralized proof of stake blockchain powered by its community and STASIS, a EU compliant EURS stablecoin project, partnered to make DeFi more functional and affordable for everyone. The STASIS team will be deploying their protocol to the Free TON ecosystem, so that their stablecoin EURS can be minted natively on Free …
Brazilian ‘King of Bitcoin’ Arrested for Involvement in Alleged $300 Million Fraud
Claudio Oliveira, owner of the Bitcoin Bank in Brazil and known as the ‘King of Bitcoin,’ was arrested yesterday for his alleged participation in a fraud scheme involving $300 million. According to inquiries from federal authorities, Oliveira faked a Bitcoin hack back in 2019 in which his company lost a significant amount of bitcoin. More …
Gold Spikes Higher as Fed’s Minutes Report Looms, Central Bank Bullion Purchases Begin to Swell
After a long break, monthly purchasing data shows that central banks are buying gold again. The World Gold Council says throughout March and April, the organization recorded a higher level of central bank monthly gold purchases and the latest data from May shows the exact same trend. Gold Rises After Data Shows Central Bank Gold …