Troubled cryptocurrency firm Nexo is planning to sue the Bulgarian government in the aftermath of massive raids at the company’s offices in Sofia. Nexo has complained about the actions of the law enforcement authorities in response to the investigation against the firm, the Bulgarian News Agency reported on Jan. 13. The company is reportedly preparing to file a lawsuit against the…
press release PRESS RELEASE. Singapore, 12 January 2023: Fiat-crypto payment gateway Alchemy Pay and its co-founder and majority shareholder, Shawn Shi, have been officially recognised by Forbes with the Web3 Innovation Pioneer award on 11 January. The Singapore-based payment solutions provider has a major research and development hub across Asia that has pioneered new payment systems at the very edge…
Financial technology firm PayPal’s international money transfer service called Xoom has announced a new product that lets users in the United States send money directly to Visa debit card users. In a recent announcement, PayPal mentioned that Xoom partnered with financial services firm Visa to allow debit card holders to receive funds directly from Xoom. The feature is available in…
Republican lawmaker Tom Emmer has criticized the SEC’s recent decision to crack down on Gemini’s ailing Earn program, calling it “late to the game” The congressman went on to say that the watchdog’s actions protect “no one,” and that the SEC’s approach of political “regulation through enforcement hurts everyday Americans.” The statement, which came via a tweet, comes after the…
Bitcoin (BTC) may be up 16% so far in 2023, but one stock it outperformed last year is now getting its revenge. Data from Cointelegraph Markets Pro and TradingView shows that for all its newfound strength, Bitcoin is still playing catch-up. Tesla up almost 25% from January low Tesla was in the headlines throughout 2022 as its rapid rise to…
The Singapore-based troubled crypto lender is looking at a possible liquidation as the firm’s creditors have rejected the proposed restructuring plan and are seeking liquidation of the platform’s assets. The group of creditors rejected a restructuring plan offer that allowed the current directors to look over the operations of the firm during the restructuring phase. However, a Jan. 12 hearing…
A Chivo wallet programmer has opened up about the different problems that the flagship cryptocurrency wallet of El Salvador faced during its initial stages. Shaun Overton, who alleges he was hired to help in the handling of the issues, has talked about ID theft, money laundering problems, and the tech issues he observed while working with the Chivo team. Chivo…
Wyre, a San Francisco-based crypto payments firm, has lifted its depositing freeze and 90% withdrawal limit after receiving financing from a strategic partner, the company announced yesterday on Twitter. The reversal came a little less than a week after Wyre had implemented withdrawal limits for user accounts, citing “the best interest of our community.” The company announced on January 7…
Roughly 800 victims of the infamous BitConnect scheme will soon see a portion of $17 in restitutions per a ruling in a court in California. Per the US District Court for the Southern District of California ruling on Thursday, BitConnect was a purported crypto lending platform that touted proprietary technology including the “Bitconnect Trading Bot” and “Volatility Software” that claimed…
In order to compare the degree of decentralization within metaverses, it’s worth explaining what we mean by metaverse — and what decentralization means as it relates to metaverses and blockchain protocols. A metaverse is an expansive, immersive, and all-encompassing digital version of the analog (real) world. While the terms metaverse and video game often go hand in hand, the metaverse…
