Business Financial News

26.10 / 19:33

business Investments Venture Capital Research Q3 NOT Venture capital recedes from crypto in Q3, but not all is bleak: Report

In 2022, it’s no surprise that most assets are in a bear market. People have a variety of signals they look for when determining a good time to enter the market, and Cointelegraph Research’s Venture Capital Report for Q2 revealed that VC inflows stagnated at just above $14 billion last quarter, the same as Q1.

26.10 / 18:53

business Adoption Investments Andreessen Andreessen Horowitz loses billions of dollars but remains faithful to crypto

Andreessen Horowitz (a16z), a hedge fund that manages roughly $28 billion USD, has become one of the major victims of the crypto market crisis that broke out last spring. Despite the downturn, the company said it remains faithful to “the crypto-centric vision of the internet called Web3.”

26.10 / 18:53

business Blockchain Binance data network Binance Oracle network to bridge Web3 and blockchains via smart contracts

Crypto exchange Binance announced the launch of a new data feed network, Binance Oracle, that allows blockchain smart contracts to connect with real-world data, starting with its in-house blockchain offering, BNB Chain.

26.10 / 17:39

business Adoption Metaverse Agency Norwegian gov’t agency opens metaverse office in collaboration with EY

The Brønnøysund Register Center, a Norwegian governmental agency, partnered with Big Four accounting firm Ernst & Young (EY) to step into the metaverse with a new virtual office location.

26.10 / 17:39

business Government Bitcoin strategies Bitcoin miners rethink business strategies to survive long-term

The Bitcoin mining industry continues to face a challenging year as the price of Bitcoin (BTC) hovers below $20,000, coupled with rising energy costs in North America and Europe. Regulators have also recently started clamping down on crypto mining, as a recent report from the Bitcoin Mining Council (BMC) found that Bitcoin has seen a 41% increase in energy consumption year-on-year (YoY). As a result, a number of crypto mining companies have been forced to sell off equipment, while others have filed for bankruptcy.

26.10 / 10:15

business Banks Swiss Seba Bank market decline Swiss Seba Bank launches NFT custody despite market decline

The decline of the nonfungible tokens (NFT) market doesn’t seem to be a problem for the Swiss cryptocurrency-focused bank Seba as the firm now allows its customers to store NFTs.

26.10 / 10:15

business Court Bithumb Prison Bithumb ex-chairman could face 8 years prison over alleged $70M fraud

The former chairman of the South Korean cryptocurrency exchange Bithumb, Lee Jung-hoon, could face a possible maximum sentence of eight years in prison if found guilty on charges related to an alleged fraud worth $70 million.

26.10 / 08:09

business Twitter stocks elon Friday after-work drinks with Twitter's new owner Elon Musk, who's in?

Crypto-friendly billionaire Elon Musk is set to finalize the acquisition of social media platform Twitter by Friday, Oct. 28 which brings to a close the protracted Musk-Twitter saga.

26.10 / 07:51

business event Blockchain Trading Freeway reveals key factors leading to platform withdrawal halt

Crypto staking platform Freeway pointed at the failure of one of its trading strategies, along with market conditions as the leading reason for halting user withdrawals earlier this week.

26.10 / 07:13

business Blockchain Bitcoin Gen Z Almost 50% of Gen Z and Millennials want crypto in retirement funds: Survey

Nearly half of Gen Z and Millennials want to see crypto become a part of their 401(k) retirement plans, according to an October survey from United States asset manager Charles Schwab.

25.10 / 20:55

business Blockchain Adoption Filecoin launches Web3 data storage solution for carbon offsets

Filecoin Green, a Protocol Labs initiative designed to reduce the environmental impact of FIlecoin and make Filecoin verifiably sustainable, has spearheaded an initiative to power Web3 technology with verifiably clean energy.

25.10 / 19:55

business Blockchain Technology Bitcoin network bitcoin lightning Support CashApp adds support for Bitcoin Lightning Network

According to a new page added to its support section on Oct. 25, Cash App — a mobile phone payment processing app created by Block Inc. — has added support for transactions via the Bitcoin Lightning Network. The new feature allows Cash App users to send and receive Bitcoin (BTC) on the faster, more efficient layer-2 protocol. Lightning is ideal for small transactions, with near-instant processing times, compared with the minutes to hours required on the Bitcoin blockchain.

25.10 / 18:07

business Tao acquires Bitcoin ATM operator RockItCoin acquires Tao Bitcoin

The Bitcoin ATM operator RockItCoin announced the acquisition of Tao Bitcoin on Oct. 25. Tao Bitcoin is a regional ATM operator with 56 machines, mostly located in the south of the United States.

25.10 / 16:51

business Money Support Germany's president pledges more support for Ukraine in surprise visit

German President Frank-Walter Steinmeier has made a surprise trip to visit Ukraine for the first time since the Russian invasion.

25.10 / 16:47

business Technology Bitcoin Bitcoin Price What does the global energy crisis mean for crypto markets?

There’s no denying that the world is currently facing an unprecedented energy crisis, one that has compounded severely in the aftermath of the COVID-19 pandemic so much so that countries across the globe — especially across Europe and North America — are witnessing severe shortages and steep spikes in the price of oil, gas and electricity.

25.10 / 13:11

business Adoption Investments Metaverse Ecosystem is bullish on the Metaverse, no matter what the numbers imply

An initial interpretation of DappRadar numbers on Oct. 11 reported extremely low engagement numbers for Decentraland, one of Web3’s most-hyped metaverses. The numbers shocked the community, as the platform has a current market evaluation of $1.2 billion.

25.10 / 12:45

business Stablecoin Altcoin bail Near Foundation Near Foundation sets up $40M fund to bail out USN investors in case of collapse

Near Protocol’s in-house stablecoin, USN, recently became undercollateralized, forcing Near Foundation to recommend winding down USN to prevent a situation similar to the Terra (LUNA) and UST collapse. Supporting this move, the Near Foundation opened up a $40 million fund to protect investors and help them cash out of USN with equal amounts of wrapped Tether (USDT.e).

25.10 / 10:41

business Stablecoin inflation Dollar Testnet Inflation-pegged ‘flatcoin’ launches testnet to track the cost of living

Blockchain tech firm Laguna Labs has launched a testnet for its in-development “flatcoin” — a spin-off of stablecoin tokens — pegged to the cost of living rather than a fiat currency or a commodity.

25.10 / 09:21

business Blockchain regulation Terra Key witness called to testify at Terra parliamentary inquiry is a no-show

The CEO of venture capital firm Hashed and early Terra (LUNC) investor Kim Seo-joon has cited “extreme stress” following the Terra crash as the reason for his no-show at South Korea’s National Assembly's Political Affairs Committee.

25.10 / 09:11

business Blockchain Law Warning Financial ASIC fires industry warning shot as it sues BPS Financial over crypto promo

Australia's financial regulator has issued a stark warning to Australian crypto asset providers amid launching civil proceedings against Australian firm BPS Financial Pty Ltd (BPS) over "misleading" representations concerning its Qoin crypto token.

25.10 / 07:41

business Ethereum Bitcoin HK HK and Singapore’s mega-rich are eyeing crypto investments: KPMG

Hong Kong and Singapore’s wealthy elite appear to be looking at digital assets with fervor, after a new report from KPMG suggesting over 90% of family offices and high-net-worth individuals (HNWI) are interested in investing in the digital assets space or have already done so.

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