Seven major banks, including Bank of America, JPMorgan Chase, and Wells Fargo, have reportedly teamed up to launch a digital wallet that will compete with other third-party wallet providers such as Paypal and Apple Pay. Big Banks to Launch a Digital Wallet Bank of America, JPMorgan Chase, Wells Fargo, and four other financial institutions behind the payment network Zelle are…
Distressed crypto markets might finally give DeFi insurance a chance to flourish, but only if it can overcome some headwinds. At the moment, less than 1% of all the assets in the $47 billion DeFi ecosystem are covered by a policy that’ll help replace them after a hack or code error. That was also true last June, in the aftermath…
The Chinese embassy in Zambia denounced the United States over its debt limit and the “extraordinary measures” Treasury secretary Janet Yellen has implemented to stave off a U.S. debt default. Yellen said on Monday that it was very important that Zambia restructure its debt, but Zambia sees it differently. The embassy castigated Yellen’s comments in response, stressing that the U.S.…
Lawmakers in the Arizona State Senate are considering a bill aimed at having voters decide whether virtual currency is exempt from property taxation. In legislation introduced to the first session of the Arizona State Senate in 2023, Senators Wendy Rogers, Sonny Borrelli, and Justine Wadsack proposed having Arizona residents decide on amending the state’s constitution in regards to property taxes.…
Surojit Chatterjee, the former chief product officer at Coinbase, will officially leave the company on February 3rd after reportedly making an estimated $105 million in stock sales. According to disclosures filed with the Securities and Exchange Commission, Chatterjee will also retain 249,315 shares of Coinbase stock. At the time of publication, Coinbase stock was valued at $54.28 per share, by…
A major player like auto brand Porsche entering the Web3 space is typically a cause for celebration among NFT collectors. However, pre-launch concern quickly evolved into a 1,800-NFT pileup this week when Porsche’s pricey NFT drop fell well short of selling out, forcing the brand to announce plans to shift gears and cut the supply. Porsche’s project focused on the…
Bankrupt crypto lending firm Celsius may issue its own token to repay creditors, according to a January 24 report from Bloomberg. The report cites a video court hearing as the source of the information. According to the report, Celsius attorney Ross M. Kwasteniet told the court that the firm is negotiating with its creditors on how to relaunch the platform…
The price of bitcoin is set to rise in 2023, but crypto and fintech experts chosen by the product comparison web portal finder.com do not believe the leading digital asset will break the $30,000 range this year. Finder’s panel of 56 specialists convened to give their 2023 bitcoin price forecast, and the panelists suggest bitcoin will peak at $29,095 this…
The price of Ether (ETH) rallied 16% between Jan. 14 and Jan. 21, peaking at $1,680 before facing a 5.4% rejection. Curiously, the same resistance level resulted in a substantial correction in late August 2022 and again in early November 2022. Ether/USD price index, 2-day. Source: TradingView From one side, traders are relieved that Ether is trading up 35.5% year-to-date,…
Digital asset infrastructure company Blockstream has raised $125 million to finance its Bitcoin (BTC) mining colocation services, underscoring heightened demand for its institutional hosting services amid the bear market. The $125 million raise was financed by convertible note and a secured loan, Blockstream announced on Jan. 24. Venture capital firm Kingsway Capital led the convertible note raise, with additional participation…
