Ubaydah Baa’ith is one of thousands of formerly incarcerated Americans who found greater financial security thanks to bitcoin, since employment, banking and housing discrimination against returning citizens is widespread across the United States. “I come from generational incarceration. My grandmother and uncle did time, here I am years later with armed robbery,” Baa’ith said. “I learned about bitcoin when I…
ING Group, Dutch multinational banking and financial services corporation, has spun out its digital asset business Pyctor to multi-asset trading infrastructure firm GMEX. GMEX has acquired ING’s institutional-grade digital asset custody solution Pyctor in a multi-million dollar deal, the companies said in a joint announcement on Monday. The Pyctor offering compliments GMEX’s MultiHub service, an institutional cross-platform business launched last…
Venezuela, one of the first countries in Latam to be considered “crypto-friendly” by some standards, has ranked third in adoption rates, according to a report issued by the United Nations. The report, issued last month, states that the cryptocurrency ecosystem has grown by 2,300% between September 2019 and June 2021, and that the Covid-19 pandemic was one of the main…
The excitement surrounding Web3 is palpable — and undeniable. Projects are flooding into the space to build cutting-edge versions of the sites and apps served up by centralized Web2 rivals, covering every sector imaginable. But at this point, it’s worth taking a step back and reflecting on the challenges that the Web3 world still needs to tackle. This technology isn’t…
The European Central Bank (ECB) has released a report analyzing the growth of the cryptocurrency market over the past decade and the risks it poses to the existing financial system. A section of the report dedicated to stablecoins discussed the central role that it plays in the current ecosystem. Stablecoins are increasingly used to interlink various blockchain networks and play a critical…
The team behind Yam Finance battled a malicious governance attack and protected its treasury worth millions. A starlet of the DeFi summer back in 2020, Yam Finance attracted over $400 million in funds from yield farmers on its first day. The project eventually collapsed, however, after a bug in its unaudited smart contract inflated the number of YAM tokens by…
Alongside heavyweights in Bitcoin and Ethereum, popular metaverse tokens have taken a beating in the past 24 hours. Enjin Coin (ENJ)—the native token of the Enjin platform earned through in-game achievements and used to buy virtual goods— is the worst hit among the metaverse projects posting a loss of 7.33% over the day. ENJ is still up 2.5% over the…
Bitso, a Mexican-based, Latam operating cryptocurrency exchange, announced it is launching a remittance service in Colombia. The company will now allow its customers in Colombia to send and receive remittances using dollar-pegged stablecoins on the platform. The exchange launched a similar service in Mexico last year in partnership with Circle. Bitso Expand Remittances Program to Colombia Exchanges are…
English soccer team Manchester City is taking another shot at a crypto partnership, six months after severing ties with a previous sponsor. The club announced on Monday that cryptocurrency platform OKX will be its official training kit partner for the upcoming season, with the company featuring on both the men’s and women’s first team’s training kits. “Our partnership with Man…
Bank of England (BoE) deputy governor for financial stability, Jon Cunliffe, recommended forming a set of regulations — similar to conventional financial systems — to tackle risks within the crypto ecosystem while improving investor confidence. Speaking at a press conference, Cunliffe highlighted the recent downfall of the Terra ecosystem, pointing out that cryptocurrencies that fail to maintain their value induce stress…
