Mining is the process of extracting valuable minerals, metals and other resources from the earth. This may entail extracting minerals from underground deposits or from the earth’s surface. The minerals and resources extracted through mining are used for a wide range of purposes, including energy production, construction and manufacturing. Mining can take many forms, including underground mining, surface mining and…
SushiSwap is making good on its January promises to launch a derivatives trading platform. But instead of building it from scratch, it’s gone out and bought one. The popular Ethereum-based decentralized exchange (DEX) announced the acquisition of Vortex Protocol today for an undisclosed amount. Built atop Sei Network, a blockchain using Cosmos’ tooling, the on-chain trading platform will come under…
The Virtual Asset Regulatory Authority (VARA) recently provided the much-awaited guidelines for virtual asset service providers (VASPs) in Dubai, United Arab Emirates, which included a ban on privacy coins. On Feb. 7, VARA released several rulebooks for VASPs including the “Virtual Assets and Related Activities Regulations 2023” in which VARA mentioned a prohibition on privacy coins. In the document, VARA…
In another attempt to collect funds to repay creditors, the now-bankrupt crypto lender Celsius is now looking to sell $14.4 million in coupons and credits for Bitcoin mining company Bitmain. The proposed deal, filed with the U.S. Bankruptcy Court for the Southern District of New York Thursday, comprises $7.4 million in coupons that give holders a 10%-30% discount on future…
Bitcoin moved below $22,000 on Friday’s session, as sentiment in cryptocurrency markets remained bearish. Volatility in markets has risen in recent days, following comments from U.S. Fed Chair Jerome Powell, who hinted at ongoing rate hikes. Ethereum also dropped, falling under $1,600. Bitcoin Bitcoin (BTC) extended recent declines on Friday, with prices falling below the $22,000 mark for the first…
Amid Coinbase cryptocurrency exchange standing up for crypto staking and economic freedom, the online community has urged the company to support XRP as well. On Feb. 9, Coinbase’s chief legal officer Paul Grewal claimed that Coinbase’s staking program is not affected by rival exchange Kraken shutting down its staking services. The executive argued that Kraken’s staking platform was “essentially offering…
Access to and use of financial services, known as financial inclusion, is crucial for economic growth and development. Unfortunately, a large portion of the population, particularly in developing nations, still lacks access to basic banking services. The World Bank estimates that 1.4 billion adults worldwide are without access to these services, which limits economic opportunities and perpetuates poverty. Cryptocurrency, with…
China’s Ministry of Science and Technology has approved the construction of its National Blockchain Technology Innovation Centre. The research hub’s key objectives revolve around researching the technology for industrial applications as well as how it could be applied in the national economy, per state media reported by the South China Morning Post. The new center will also collaborate with domestic…
A Russian national accused of processing cryptocurrency payments from ransomware attacks has pleaded guilty to money laundering in the United States. The man who was extradited from the Netherlands in mid-August, last year, will be sentenced in April. Russian Crypto Launderer Pleads Guilty in US Court, May Get Up to 20 Years in Prison An alleged money launderer from Russia…
Yesterday, the Securities and Exchange Commission announced its enforcement action against Kraken, forcing the crypto exchange to shut down its staking service in the U.S. and pay a $30 million fine. Kraken’s staking service offered its customers an opportunity to earn rewards by depositing their crypto into various yield-generating protocols, advertising up to 24% yearly returns. The SEC’s complaint alleged…
