Blockchain Financial News

When it comes to traditional finance, crypto and blockchain leaders are faced with something of a disconnect. TradFi firms are in one sense competition, but unless TradFi comes to embrace Web3, Web3 can’t reach its full potential. Complicating efforts to reach out to TradFi are mutual feelings of uncertainty: Crypto and blockchain pioneers fear that TradFi’s influence may weaken the consumer- and transparency-first commitment industry enthusiasts value, while TradFi firms are wary of a new industry whose technology and guidelines they don’t understand.

Cointelegraph has reached the No. 2 spot on its 2023 Top 100 list: Ethereum co-founder Vitalik Buterin, who had a significant impact in 2022 and is expected to continue influencing the crypto space in 2023. Sitting among a sizable list of other co-founders of the Ethereum blockchain, Buterin was the one who wrote its white paper.

The popular NBA Top Shot NFT trading cards could be deemed securities for regulatory purposes in the US, after a judge allowed a lawsuit against Top Shot’s creator to move forward.

However, the UK was far from alone in seeing a drop off and remains the centre of European fintech investment, with firms attracting more funding than their counterparts in the rest of Emea combined.Karim Haji, UK and Emea head of financial services, KPMG, says: "Despite the drop in both value and volume, it was a strong year for the UK fintech industry. The UK is a major global player, with investment in UK fintech only behind that of the US and Australia."Total global fintech investment fell to $164.1 billion across 6006 deals in 2022, after reaching a record $238.9 billion across 7321 deals the previous year.Payments remains the strongest area of fintech investment globally, with $53.1 billion in investment compared to US$57.1 billion in 2021; Regtech was the only sector to buck the downward trend, with investment in the space rising from US$11.8 billion in 2021 to a record $18.6 billion.In contrast, investment in crypto and blockchain fell from $30 billion in 2021 to $23.1 billion in 2022.

Tezos (XTZ) exploded yesterday with a sudden 20.20% pump.

The adoption of blockchain technology is on the rise, with the majority of enterprises looking into the technology in some capacity. As blockchain becomes more pervasive, all types of users will need the most efficient access to the capabilities of this technology.

On 22 February, a New York court judge refused to dismiss a class-action lawsuit filed against Dapper Labs for allegedly offering Non-Fungible Tokens [NFTs] without first registering with the US Securities and Exchange Commission (SEC).

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USD Coin (USDC) issuer Circle plans to increase its workforce by 15-25% in 2023 amid a sea of layoffs across the industry, reported the Wall Street Journal.

DZ Bank, Germany’s second-largest bank in terms of asset size, will fully integrate digital currencies into its asset management services in collaboration with the digital asset firm Metaco.

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Blockchain Association’s chief legal officer says “it would be absurd” for a United States court to rule that digital assets on private blockchains are securities, following a federal judge's decision to allow a lawsuit against Dapper Labs's NBA Top Shots NFTs to play out. 

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The community of decentralized finance stablecoin protocol Frax Finance has voted to fully collateralize its native stablecoin Frax (FRAX), marking an end to the algorithmic backing of the protocol.

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Then, thanks to an Immersve partnership with a third-party settlement provider, the USDC stablecoin will be converted to fiat currency and settled on Mastercard’s network. Immersve is also tapping Mastercard Identity Services and CipherTrace technology to address KYC/AML, online fraud detection and blockchain analytics.Jerome Faury, CEO, Immersve, says: "Immersve is literally building bridges that make it possible for individuals to transact directly from their crypto wallet, anywhere Mastercard is accepted online.

Google's cloud computing arm has added another string to its Web3 bow, with a new partnership to see it becoming a network validator on the Tezos blockchain.

Layer-2 scaling solution Polygon (MATIC) has not processed a block in over an hour and a half, leading some to believe that the blockchain network could be suffering from an outage.

Blockchain technology is often a valuable tool in solving various business challenges due to its ability to create secure, trusted, transparent data sources, and it has gained traction across various industries as businesses seek efficiency and cost reductions.

General manager of the Bank for International Settlements Agustín Carstens spoke at the Singapore FinTech Festival on Feb. 22 and described the digital financial infrastructure he believes would best suit central bankers’ needs. He called that infrastructure a “unified ledger.”