Blockchain Financial News

Shanghai has taken a significant step in the realm of metaverse tourism with the release of the «Shanghai Action Plan for Creating a New Path in Metaverse Tourism (2023-2025)». The plan, unveiled by the Shanghai Municipal Bureau of Culture and Tourism, outlines the city's strategic focus on five key areas to propel the development of metaverse tourism in the coming years.

Tether Operations Limited (Tether), the company behind the renowned blockchain-powered platform tether.to and the world's leading stablecoin, has revealed its plans to introduce U.S. dollar-pegged Tether tokens («USDT») on Kava. Kava is a layer-1 blockchain specifically designed to offer scalability and high speed.

SHANGHAI — Huawei's Chief Financial Officer Meng Wanzhou said Wednesday that applying 5G technology to business was more difficult than she had expected.

Italy’s top banking authority has called for a “robust, risk-based” regulatory framework for stablecoins, which could help prevent a worst case scenario — a “run” on stablecoins.

Web3 lending platform Maple Finance has announced the launch of a direct lending program, according to a June 28 fact sheet from the platform’s development team. The program is intended to replace services previously provided by Celsius, BlockFi and other now-bankrupt lenders.

The volume of Ether staked keeps reaching new heights since the Shapella upgrade in April, crossing 23 million Ether locked in June. 

As Bitcoin's (BTC) daily trading volume soars above the $10 billion mark, pushing the price of Bitcoin, the world's largest cryptocurrency, into positive territory, the persistent question arises: has the bear market ended? 

Disclaimer: The text below is an advertorial article that is not part of  Cryptonews.com  editorial content.

According to a report published by blockchain intelligence firm TRM Labs on June 28, a combined $7.8 billion was paid to cryptocurrency pyramid and Ponzi schemes worldwide in 2022. In addition, another $1.5 billion in crypto was alleged by TRM to have been spent on darknets for illicit activities, while another $3.7 billion in crypto was lost in hacks or exploits.

While Bitcoin (BTC) offered the world an era of true decentralization, the introduction of centralized exchanges and custodial services has lured people away from the original premise of crypto — trustlessness and self-custody. However, the collapse of major crypto exchanges such as FTX acted as a bitter reminder of the importance of the “Not your keys, not your coins” mantra, triggering an exodus from centralized platforms to noncustodial solutions.

The Law Commission of England and Wales has recommended a national legal framework tailored to dealing with digital assets that addresses collateral arrangements using crypto to back loans.The commission, funded by the Ministry of Justice, noted that such collateral arrangements offer “various benefits” such as improving market liquidity and allowing investors to “extract” the value of otherwise “underutilized” assets. However, risks exist for borrowers providing such collateral if the lender they operate with goes bankrupt, in which case they may not have a claim on all of their funds.“If a collateral taker enters insolvency proceedings, a collateral provider would have only an unsecured claim for the amount constituting surplus proceeds, rather than a proprietary claim to the assets,” wrote the commission in a 304-page report published on Wednesday. 

On June 28, software analytics firm MicroStrategy announced the corporate purchase of 12,333 Bitcoin (BTC), worth $347 million at the time of publication. After the transaction, the total balance of Bitcoin owned by MicroStrategy has increased to 152,333 ($4.52 billion) with an average purchase price of $29,668 apiece. 

Robert F. Kennedy Jr., the pro-Bitcoin presidential candidate, recently held a speech in which he vowed to defend the US citizens’ right to hold and use Bitcoin (BTC). 

Disclaimer: The text below is a press release that is not part of  Cryptonews.com  editorial content.

The failed crypto company FTX is apparently having initial talks with investors on bringing back the FTX.com exchange through structures such as a joint venture, a WSJ report said.

With over 25,000 cryptocurrencies and new projects constantly emerging, the decentralized finance sector is experiencing remarkable growth.

The Bank of England is still mulling over which technology will underpin its Central Bank-Backed Digital Currency (CBDC). 

Blockchain fintech company Paxos and online marketplace MercadoLibre have entered a partnership to bring the Pax Dollar (USDP) stablecoin to Mexico via the MercadoPago payment service on June 28. 

Disclaimer: The text below is an advertorial article that is not part of Cryptonews.com editorial content.

Disclaimer: The text below is a press release that is not part of  Cryptonews.com  editorial content.

Bankrupt crypto brokerage Voyager Digital is obligated to pay $1.1 million to its legal adviser, Kirkland & Ellis, for fees and expenses associated with its involvement in the company’s bankruptcy proceedings in April.