Japan’s biggest financial conglomerate, Mitsubishi UFJ Financial Group (MUFG), will abandon its three-year-old blockchain payment project to focus on other digital and fintech initiatives. MUFG officially announced Tuesday the suspension of Global Open Network (GO-Net) Japan, a blockchain-based project aiming at high scalability and multi-connectivity data processing “in response to the rise of the internet of things.” The project was…
Three non-fungible tokens (NFTs) stolen from users of NFT marketplace OpenSea are to be returned to their owners, after rival platform Mintable tracked them down. According to a press release from Mintable, its team was acquiring Azuki NFTs on NFT marketplace LooksRare for its February Floor Buster flash sale when it found and purchased Azukis #1178, #4176 and #1180. In…
During a February 16 webinar on “crypto” hosted by the Hatch Center, the policy arm of national think tank the Orrin G. Hatch Foundation, Hatch Foundation Executive Director Matt Sandgren was joined by U.S. Senator Cynthia Lummis, former Federal Reserve Vice Chair Randal Quarles and Bitstamp CEO Robert Zagotta. The focus of the conversation was on ensuring that regulations coming…
zkSync, a provider of zero-knowledge blockchain solutions, has announced the successful deployment of its Rollup protocol on the Ethereum (ETH) testnet. The deployment is seen as a positive development by proponents of Ethereum, as it removes the need for human operators to validate transactions. Last year, the creators of zkSync described their vision for a permissionless, Turing-complete rollout that allows decentralized…
A Congo-based Web3 app developer, Jambo, recently said it raised $7.5 million in a seed funding round. According to a report, the startup’s successful seed round is the latest by an Africa-based firm that is working towards developing Web3. Startup’s Partnership With Social Media Companies Jambo, the Congo-based developer of a Web3 app, has raised $7.5 million in seed funding,…
Move aside Bitcoin (BTC), stablecoins are holding the spotlight. Crypto research outlets Arcane Research and CryptoRank confirm that stablecoin supply hit the milestone amount of $180 billion. The growth in stablecoins continues to outpace the rest of the market, up 6% in the past 30 days. In times of market volatility, stablecoins can offer price stability, backed by specific assets or algorithms.…
Ethereum’s native token Ether (ETH) could reach above $10,000 in the coming weeks as it paints what appears to be an “ascending triangle” technical pattern. Ethereum price technicals: bullish signs Ascending triangles are bullish continuation setups that appear during an uptrend. Analysts confirm their presence after the price rises upward inside a rising right-angle triangle structure, thus forming a sequence…
Blockchain company Bitfury announced the launch of a new crypto-mining data center in Ontario, Canada. The new crypto mining center adds to the list of existing Canadian sites currently operating in Drumheller, Alberta and Medicine Hat. Bitfury partnered with Hut 8 Mining, a Toronto Stock Exchange-listed Bitcoin (BTC) mining company, to set up mining operations across North America. The new…
The Advertising Standards Council of India (ASCI) has published guidelines covering the advertisement of crypto assets, after finding that several ads “do not adequately disclose” risks associated with crypto. “In order to safeguard consumer interest, and to ensure that ads do not mislead or exploit consumers; lack of expertise on these products, ASCI has extensively consulted with different stakeholders including…
The Governor of the Bank of Spain has alerted the public about the risks mixing traditional banks with crypto assets might bring to the economic system. Pablo Hernández de Cos stated that the direct or indirect exposure to these assets would increase the risks associated with the financial institutions. De Cos also stated that while this exposure is still low,…
