USDC stablecoin issuer Circle will discontinue support for legacy consumer accounts, the company said on Tuesday. The USD Coin token is a U.S. dollar-pegged stablecoin, meaning that Circle maintains $1 in reserves—in cash or cash equivalents—to back each of the $25 billion worth of tokens in circulation. USDC is the second-most popular dollar-backed stablecoin behind Tether (USDT), which on Tuesday…
Looking to give its loyalty platform an edge, Web3 community Galxe announced on Tuesday the launch of Galxe AI, an interactive assistant to help users navigate the often confusing world of Web3 projects. “We provide an infrastructure for brands to launch their loyalty programs and their growth campaigns easily so users can engage with the brands,” Galxe CEO Charles Wayn…
The mega-cap tech stocks, which saw a robust start in 2023, are now grappling with massive trillion-dollar losses, leaving their shareholders concerned. Wall Street’s unease over surging bond yields and higher interest rates has cast a shadow on these companies. Traders are now pondering the potential impact on Bitcoin (BTC) if the S&P 500 downtrend continues. Consequently, investors must investigate…
In 2008, an 8-page white paper outlined a new form of money. Today, we celebrate the 15th anniversary of Bitcoin. On October 31, 2008, an anonymous entity named Satoshi Nakamoto published a white paper for a decentralized, “peer-to-peer electronic cash system.” The Bitcoin white paper was a direct response to the systemic weaknesses laid bare in the 2008 financial crisis.…
DeFi enthusiasts know all too well the benefits that decentralization can bring to finance: trustless operations, innovation and greater control for users. Yet, as with any transformational shift, growing pains are inevitable. Among these, fragmentation, particularly in terms of liquidity, casts a shadow over the DeFi horizon. At its core, fragmented liquidity — where available liquidity is spread across multiple…
U.S. Securities and Exchange Commission Chair Gary Gensler today wished Bitcoin a happy birthday by using Halloween to poke fun at the cryptocurrency’s creator. In a Tuesday Twitter post, the top regulator also told crypto companies to comply with securities laws. Fifteen years ago, the pseudonymous Satoshi Nakamoto published the Bitcoin white paper, Bitcoin: A Peer-to-Peer Electronic Cash System. The…
Stablecoin issuer Circle will close out consumer or individual accounts on November 30, according to emails received by Circle customers on October 31. In an email to Cointelegraph, the stablecoin issuer confirmed that it is closing the accounts but confirmed that business and institutional “Mint” accounts will remain available. On the morning of October 31, crypto user Evanss6 posted an…
Solana Labs announced the beta launch of GameShift on Tuesday, a new platform aimed at making it easier for game developers to build blockchain-powered experiences on the Solana network. First revealed in July, GameShift provides a unified API that handles the blockchain complexity behind the scenes, allowing developers to focus on game creation rather than learning how to code in…
U.S. District Judge Lewis Kaplan shielded the jury on Monday from an excerpt of “Going Infinite,” a new Michael Lewis book about FTX founder Sam Bankman-Fried. Kaplan sided with an objection from the prosecution calling a conversation included in Lewis’s “letter to the jury” prejudicial hearsay. “There is a conversation described in Michael Lewis’s book that is sourced to the…
Backpack, a Solana-based NFT wallet app, announced Tuesday it will launch a regulated cryptocurrency exchange called Backpack Exchange. The exchange received a Virtual Asset Service Provider license for Exchange Services from the Dubai Virtual Assets Regulatory Authority (VARA). VARA, which oversees virtual asset activities in Dubai, granted the license after a “rigorous” evaluation process, according to a VARA spokesperson. The…
