While the United States Federal Reserve decided to hold interest rates at its November meeting, they remain at their highest level since well before the global financial crisis (GFC) of 2008-09. The Federal Funds rate stands at 5.25-5.5%, similar to the United Kingdom’s 5.25%, while in the European Union it is at a record high of 4%. This is being…
While a fledgling industry, blockchain gaming has already faced massive challenges—resulting in a swath of games being put on indefinite pause by their respective developers, while others switch chains. In 2022, a staggering 157 blockchain games were “halted” or otherwise stopped development, while another 43 titles were halted in 2023, according to a new Game7 report on the state of…
Taiwan cryptocurrency exchange Bitgin is under investigation by the country’s police force for money laundering. According to local news reports early this week, Yuting Zhang, the firm’s COO, was arrested by Taiwanese police for his alleged role in the “Eighty-Eight Guild Hall” money laundering incident. Previously Zhemin Guo and Chengwen Tu, two local businessmen, were accused by police of operating…
After a stunning climb last week, Solana (SOL) has cooled its rally and is now down over the past 24 hours. Solana, the seventh biggest cryptocurrency by market cap, is down nearly 5% in the past day, trading hands for $55.39, CoinGecko data shows. Last week, the Ethereum-competitor had experienced a surge in price unlike any other coin or token…
Four months after departing Polygon Labs, Ryan Wyatt is joining the team supporting a totally different Ethereum scaling network: Optimism. On Monday, the former Polygon Labs president was announced as the Chief Growth Officer for Optimism Unlimited, a newly created subsidiary of the Optimism Foundation. Wyatt will build a team to support adoption and development on Optimism across a variety…
Bitcoin (BTC) institutional investment vehicles have seen over $1 billion in new inflows in less than two months. In its latest weekly report on Nov. 13, crypto asset management firm CoinShares furthered the narrative that Bitcoin and altcoins are again attracting capital. Crypto institutional product AUM up 99% year-to-date Bitcoin, Ether (ETH) and some major altcoins are enjoying price gains…
Binance Blockchain Week Istanbul 2023 saw global crypto exchange Binance bringing its flagship event to Turkey on Nov. 8–9, where business is conducted in the Turkish lira — a top trading pair on its platform. While Binance CEO Changpeng “CZ” Zhao was absent from the event, the Binance c-suite, along with key executives from a full roster of event sponsors,…
The Block, a crypto-focused media company, sold a majority stake of its company to a venture capital firm in Singapore, according to reports, which has valued it at $70 million. Foresight Ventures, the firm behind the deal, is buying an 80% stake for $60 million. The VC firm says The Block will continue operations as an independent business. The media…
The United States Financial Services Committee (FSC) has scheduled a Nov. 15 hearing for a deep dive into the illicit activities in the cryptocurrency ecosystem. The hearing, ‘Crypto crime in context: breaking down the illicit activity in digital assets,’ will feature prominent crypto entrepreneurs as attendees. According to the Committee’s calendar, Mr. Bill Hughes, senior counsel and director of global…
In the last bear market, crypto was still in the discovery phase as users were wondering whether blockchain assets are a legitimate long-term trend or just a fad that should’ve been sold at the top. This time, the top industry players, including Microsoft, Google and Reddit, are moving into Web3 products, and top banks such as JP Morgan and Franklin…
