Shares of cryptocurrency-friendly trading app Robinhood dropped more than 8% in its public Nasdaq debut on Thursday, marking one of the worst initial public offering (IPO) debuts of its size. Robinhood’s HOOD stock tumbled 8.4% below the IPO price in the company’s first trading session on July 29, dropping from $38 to $34.82. The company …
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Troubled global cryptocurrency exchange Binance continues moving fast in curbing services to respond to the ongoing regulatory scrutiny worldwide, partly shutting down derivatives trading. Binance officially announced Friday that it would suspend its derivatives trading across the European region, starting with Germany, Italy and the Netherlands. The company clarified that users in mentioned countries cannot …
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Binance has plans to set up physical headquarters in multiple jurisdictions as a concession to the global regulatory backlash. The world’s largest cryptocurrency exchange is under pressure following numerous notices, bans, and even a criminal investigation at the hands of Thailand’s Securities and Exchange Commission. The fallout has seen payment processing partners jump ship, leaving …
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Payment processors that facilitate the immediate transfer of crypto into fiat currency and enable acceptance of Bitcoin (BTC) payments for e-commerce, point-of-sale, invoicing and remittance, have a finger on the pulse of the everyday economics of cryptocurrency adoption. Crypto payment gateway Triple A, summarized what El Salvador’s adoption of Bitcoin as official currency on September …
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Dan Held, the Director of Growth Marketing at crypto exchange Kraken, expects Bitcoin to reach a market cap of up to $200 trillion. This would price BTC at around $9.5 million per token. “It’s a wild range of numbers, but I think Bitcoin’s market capitalization should be between ten and two hundred trillion…” The leading …
Although it’s possible to draw comparisons between almost any two blockchain development platforms, comparing Ethereum with Polkadot is almost an inevitability. Not only on the technical level – they use a comparable architecture and proof-of-stake consensus to achieve scalability – but because Vitalik Buterin and Dr. Gavin Wood also have a shared history in Ethereum. …
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The new digital yuan, currently undergoing trials, can help to increase the international usage of China’s national fiat, experts have stated. As the renminbi (RMB, CNY) is becoming one of the world’s most important currencies, the People’s Bank of China is planning to conduct cross-border tests with the yuan’s digitized version, the e-CNY. Digital Yuan …
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The Ghanaian Vice President, Mahamudu Bawumia, has implored African governments to start exploring digital currencies as such alternatives have the potential to enhance intra-African trade. In addition, such digital currencies allow African countries to carry out all cross-border payments smoothly, the leader explained. Ghana Government Backing for CBDC According to a report, Bawumia made these …
A new crypto asset in the decentralized finance (DeFi) space is surging after receiving a big boost from Coinbase. Yield-farming protocol Harvest Finance (FARM) has launched on Coinbase Pro. ADVERTISEMENT As word of the new addition spread, the asset’s price surged as high as 160% in a matter of hours. Our FARM-USD order book …
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Major American financial services and bank holding company State Street Corporation is expanding its push into the cryptocurrency industry by launching new digital asset services. State Street, the second-oldest operating bank in the United States, announced Thursday that it would provide digital and crypto asset administration services for the company’s private funds clients. The bank …
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The DeFi industry has been gaining momentum since 2020, offering a new perspective on the world of finance and a new way for investors to make money. In its essence, DeFi, also known as Decentralized Finance, is an ecosystem of applications and services built on public blockchains. Yield farming and staking are gaining momentum on …
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HodlX Guest Post Submit Your Post Introduction Decentralized finance (DeFi) is selling like hotcakes in the crypto world. It has so many advantages over centralized financial systems that it could result in a paradigm shift of customers moving to DeFi. Ever since Ethereum, one of the biggest crypto coin developers, started producing decentralized applications, people …
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Investment firm and development studio Polyient has unveiled an NFT marketplace with decentralized finance (DeFi) functionality. The marketplace dubbed “PolyientX” is set for a beta release in August on Ethereum, with an official launch targeted for sometime in the Fall. The initial launch will feature NFTs from Ape In, a DeFi-enabled NFT collectibles game, and …
Decentralized derivatives and synthetic asset trading protocol, Synthetix, has launched trading on the Optimistic Ethereum layer two scaling platform. The long-awaited launch was announced by the Synthetix protocol exchange Kwenta on July 30. It enables the exchange to offer faster transactions and lower fees using optimistic rollup technology. Initially, there will be just four synthetic …
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Michele Korver, the first-ever chief digital currency advisor for the Financial Crimes Enforcement Network’s (FinCEN), believes crypto assets are just another way of transferring value. Speaking to Law360 on July 29, the newly appointed Korver said cryptocurrency was “just another means of payment or value transfer that’s developed over time, just like any financial technology.” …
