Mercury Wallet, a Layer 2 application built for Bitcoin, is currently developing infrastructure to integrate with the Lightning Network. Applications like Mercury are a way of scaling the use of Bitcoin by temporarily performing transactions off chain before returning to the main chain, making it easier and more cost-effective to make payments to other users. But what is Mercury Wallet,…
Meta, the metaverse-based platform, has announced the launch of a new wallet directed to support value interaction in the metaverse. Meta Pay, a rebrand of the former Facebook Pay service, will keep fulfilling the same functions that Facebook Pay did in the past, but will be developed as a universal way of paying for goods and services using digital identities…
As metaverse land assets become more expensive, ownership becomes harder for normal users. Because of this, Ralf Kubli, Board Member at the Casper Association, argues that fractional ownership, similar to property loans in the real world, may gain traction within the virtual space through nonfungible tokens (NFTs). Kubli told Cointelegraph that understanding fractional ownership within the metaverse is very similar…
Banxa, a crypto payments operator, announced that it would lay off 30% of its staff to reduce operating costs amid the ongoing bear market. “Banxa must take decisive actions to reduce costs now, or else our company won’t be able to succeed over the long run,” wrote Holger Arians, Banxa’s CEO, in a letter to employees as reported by The…
Catalonian director-general of innovation Daniel Macro discussed some of the key efforts that the government has taken and worked on to make the region a digital hub in an exclusive interview with Cointelegraph’s managing editor Alex Cohen. Macro’s comments came during the European Blockchain Convention (EBC) 2022. Macro said the COVID-19 pandemic over the past two years has really helped in…
Stablecoins like USDT and USDC would be doing just fine if properly regulated, while Bitcoin is a “Ponzi scheme” in any case, China’s BSN chair told Cointelegraph. Source: https://cointelegraph.com/news/china-s-bsn-chair-calls-bitcoin-ponzi-stablecoins-fine-if-regulated
Dogecoin (DOGE) looks ready to extend its rebound move despite the current crypto bear market. 79% chances DOGE will extend its rebound move DOGE’s price appears to have been painting a “bump-and-run-reversal (BARR) bottom” since May 11, a technical pattern that points to extended trend reversals in a bear market. It consists of three successful phases: Lead-In, Bump, and Run.…
Binance has chosen a new payments partner amid the suspension of direct fiat deposits and withdrawals in Brazil. The company stated it will now work with Latam Gateway, a payments processing company that has been in the payments intermediation business since 2019. Binance reported it would be working to normalize the fiat deposit and withdrawal situation shortly. Binance Partners…
XCarnival, a liquidity provider for the Ethereum ecosystem, recovered 1,467 Ether (ETH) just a day after suffering an exploit that drained 3,087 ETH, worth roughly $3.8 million, from the protocol. Blockchain investigator Peckshield noticed the XCarnival hack as it came across a stream of transactions that eventually bled 3,087 ETH from the protocol. Explaining the nature of the exploit, Peckshield…
According to blockchain investigator Packshield, the hacker used a previously withdrawn pledged NFT from the Bored Ape Yacht Club (BAYC) collection as collateral to drain the assets. Source: https://cointelegraph.com/news/ethereum-liquidity-provider-xcarnival-negotiates-return-of-50-stolen-eth
