Payment company Visa is seeking to build a “muscle memory” to settlements, aiming to allow customers to convert digital assets to fiat currencies on its platform, according to the company’s head of crypto division Cuy Sheffield at the StarkWare Sessions 2023. “We’ve been testing how to actually accept settlement payments from issuers in USDC starting
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When the financial system or the economy as a whole undergoes a rapid and large decline, it is said to be in a financial crisis. Financial assets like stocks, bonds, and real estate often see a sharp and significant decline in value during financial crises. They can also be identified by a decline in credit
The price of Fantom (FTM) risks pulling back in February due to a growing divergence between its price and momentum in recent weeks. FTM price rallies 230% after Cronje’s 2023 roadmap FTM’s price has grown by 230% in the past five weeks, trading at $0.61 on Feb. 5. The rally came as a part of
The Australian government has said it will take steps to ensure the “regulation of crypto assets protects consumers” and one of these steps will be the reforming of “the licensing and custody of crypto assets.” The Anthony Norman Albanese-led government also said it has released a consultation paper that explores “which elements of the crypto
On a recent visit to Sri Lanka, American billionaire Tim Draper pitched the idea of adopting Bitcoin (BTC) as a legal tender to fight against the corruption that contributed to hyperinflation in the island country. However, a key Sri Lankan authority — central bank Governor Nandalal Weerasinghe — believed doing so would worsen the country’s
Shiba Inu (SHIB) price was at the lowest versus its top rival Dogecoin (DOGE) in November 2022. Three months later, the dynamics have flipped. SHIB price rises 100% versus DOGE On Feb. 4, 2023, the SHIB/DOGE pair reached 0.00001638 DOGE, up almost 100% three months after bottoming out at 0.00000993 DOGE, its lowest level on
Google Cloud has reportedly invested $300 million into artificial intelligence (AI) startup firm Anthropic, which also happened to receive over $500 million in funds from former FTX CEO Sam Bankman-Fried about six months before FTX catastrophically collapsed. While the $300 million figure was reported by Financial Times on Feb. 4, Anthropic confirmed the investment partnership with Google
Billionaire Ray Dalio, the founder of the world’s largest hedge fund, Bridgewater Associates, says it’s “amazing” what bitcoin has accomplished but believes the cryptocurrency is not going to be an effective money, a store of value, or a medium of exchange. Nonetheless, he stressed that “we are in a world in which money as we
2022 was tough for the crypto market. A recent report published by security services platform Immunefi found that the crypto industry lost a total of $3.9 billion in 2022. Detrimental losses such as these are often concerning for crypto investors, yet there may be a silver lining behind decreasing assets for investors reporting crypto on
The Bank of England (BoE) and Treasury believes the United Kingdom is likely to need to create a central bank digital currency (CBDC) by 2030, according to a Telegraph report on Feb. 4. The “digital pound” roadmap is set to be introduced next week, a government source told the newspaper. Deputy Governor Jon Cunliffe is
Top Stories This Week SBF’s $250M bail guarantors should be made public, rules judge The identities of two individuals who helped former FTX CEO Sam Bankman-Fried with his $250 million bail bond could be revealed next month following a recent ruling by United States District Judge Lewis Kaplan. Bankman-Fried’s legal counsel has until Feb. 7
As the artificial intelligence (AI) wars intensify, the AI firm Anthropic has raised $300 million from Google and sources say that the tech giant will get roughly a 10% stake in the AI company. Interestingly, in April 2022, Anthropic raised approximately $500 million from sources including Sam Bankman-Fried (SBF), co-founder of FTX; Caroline Ellison, former
Bitcoin (BTC) circled $23,500 on Feb. 4 as bulls refused to give up support in out-of-hours trading. Bitcoin price conjures 2020 memories Data from Cointelegraph Markets Pro and TradingView showed BTC/USD holding a narrow range in place since the Feb. 3 Wall Street open. Macroeconomic data releases from the United States provided modest volatility but
The Federal Bureau of Investigation (FBI) has seized 86.5 Ether (ETH) an two nonfungible tokens (NFTs) worth more than $100,000 from a reported phishing scammer. The alleged scammer in question, Chase Senecal — known as Horror (HZ) online — was initially exposed via a lengthy investigation by independent blockchain sleuth ZachXBT posted back in September 2022.
Financial authorities in Kazakhstan are starting a public consultation on draft changes to the country’s framework for digital-asset trading. The proposals include measures to reduce risks in the crypto market and improvements to the structure of exchange platforms. Kazakhstan’s Financial Hub Seeks to Amend Its Concept for Trading Digital Assets The Astana Financial Services Authority,
Several crypto firms have made job cuts this week amid the ongoing crypto winter, retaining “impactful” employees as they prepare for a “longer downturn.” At least 216 jobs were slashed between three crypto firms – open-source software laboratory Protocol Labs, blockchain data firm Chainalysis and U.S. cryptocurrency exchange Bittrex, with reductions of 89, 83 and
India’s Finance Minister, Nirmala Sitharaman, suggested that regulation “cannot be done” by a single country, it requires an international effort, in a recent television interview. Speaking to Rahul Joshi on CNBC-TV18 in India on Feb. 3, Sitharaman noted that while the central bank is the “authority for issuing cryptocurrency,” the rest of the digital assets
Binance has returned to the South Korean cryptocurrency market after two years with a “meaningful” investment in a local, licensed crypto exchange. Gopax fell into trouble following the collapse of crypto exchange FTX and the bankruptcy filing of crypto lender Genesis Global. Binance Invests in Troubled Korean Crypto Exchange Cryptocurrency exchange Binance announced Friday that
Bitcoin experienced the second-strongest January in its history — and the best since 2013 — rising nearly 40% amid wide reports that institutional investors were back on board. Zhong Yang Chan, head of research at CoinGecko, told Cointelegraph that there were “net institutional inflows into digital asset funds in January 2023, particularly in the last
The next crypto bull market will start sooner than most people think, according to Mark Yusko, founder and CEO of Morgan Creek Capital Management. Yusko thinks the next crypto bull run or, as he calls it, “the crypto summer,” could kick off as soon as the second quarter of this year due to the combination