Business Financial News

22.09 / 18:53

business Blockchain Taxes South Korean gov has confiscated 260B KWR in crypto for non-payment of taxes since 2021

According to local news outlet mk.co.kr, the South Korean government has seized over 260 billion Korean won ($180 million) worth of cryptocurrencies in the past two years due to tax arrears. The country's politicians enacted regulations allowing for the seizure of digital currencies for tax delinquencies and began enforcing them last year.

22.09 / 16:15

business Facebook Art Gaming AIM Accessibility NOT Metaverse graphics aim for community and accessibility — Not realism

Some may argue that the Metaverse has been around for years, as demonstrated by early gaming platforms, yet virtual ecosystems are now being embraced by almost every industry. A recent report from consulting firm McKinsey & Company believes that the Metaverse has the potential to generate at least $5 billion in value by 2030. McKinsey also found that investments exceeding $120 billion have been put toward Metaverse platforms this year, indicating that major growth is underway.

22.09 / 16:15

business Adoption Investments Launch GEM Digital commits $50M to ParallelChain Lab for L1 protocol development

Digital asset investment firm GEM Digital Limited (GEM) has committed $50 million to finance ParallelChain Lab following the launch of its mainnet and native token listing, XPLL, in Q4 2022.

22.09 / 15:51

business Europe coinbase Coinbase enters the Netherlands with central bank approval

The United States-based cryptocurrency exchange Coinbase continues its aggressive expansion in Europe, with the latest regulatory approval coming from the land of tulips.

22.09 / 15:29

business Binance regulation regulatory Binance establishes Global Advisory Board to work on regulatory and political issues

As the crypto community grows, issues within the crypto community become more complex. Regulatory, political and social issues often get in the way of crypto adoption, slowing the advancements within the space.

22.09 / 13:45

business Government Binance Middle east Regulated fintech in Bahrain enables crypto payments with Binance

Cryptocurrency adoption continues growing in the Kingdom of Bahrain, with local companies enabling payments in crypto like Bitcoin (BTC).

22.09 / 11:19

business Adoption How Bitcoin ATMs in Greece fare during a record-breaking tourist season

Greece is globally recognized for its touristic lures of idyllic beaches and a laid-back lifestyle. Prior to the outbreak of the global pandemic, the World Travel and Tourism Council said that tourism generated over one-fifth of Greece’s total GDP.

22.09 / 10:15

business Blockchain defi Hackers Tribe DAO votes in favor of repaying victims of $80M Rari hack

After months of uncertainty, the Tribe DAO has passed a vote to repay affected users of the $80 million exploit on decentralized finance (DeFi) platform Rari Capital's liquidity pools.

22.09 / 06:37

business Blockchain Binance CNBC reports FTX in talks with investors to raise $1B for further acquisitions — Reports

Sam-Bankman Fried’s crypto exchange FTX is reportedly engaged in talks with investors to raise $1 billion in new funding, as it looks to utilize extra capital for financial acquisitions during the bear market.

22.09 / 00:21

markets business economics Interest rates Jerome Powell is prolonging our economic agony

Can we all agree that the Federal Reserve has a plan to combat runaway inflation? They do. Chair Jerome Powell has all but admitted it. After tempering his comments before previous rate hikes, allowing wiggle room which gave way to market rebounds, Powell has left no bones about this one. It is necessary to wreak some havoc on the economy and put downward pressure on the labor markets and wage increases to stop the creep of inflation. Whether you buy into that logic or if you believe — like Elon Musk — that such movements could result in deflation — doesn’t matter.

21.09 / 23:47

business banking Digital Asset Japanese banking giant Nomura launches digital ecosystem VC arm

Nomura, one of the largest investment banks in Japan, has established a venture capital arm aimed at investing in companies focusing on crypto and blockchain.

21.09 / 23:39

business Government Binance services Binance receives green light for crypto services in Dubai

Crypto exchange Binance received a Minimal Viable Product (MVP) license from Dubai's Virtual Asset Regulatory Authority (VARA), enabling the crypto exchange to offer a range of virtual asset services to qualified retail and institutional investors, the company disclosed on Tuesday.

21.09 / 23:39

business Kraken Kraken’s Jesse Powell will step down as CEO, stay on as board chair

Jesse Powell, the co-founder and CEO of cryptocurrency exchange Kraken, will be stepping down after leading the platform for more than 11 years.

21.09 / 21:29

business Blockchain Europe services Societe Generale launches custodial services for crypto fund managers

According to a new press release on Wednesday, Société Générale, one of the largest investment banks in Europe, said that it would be expanding its cryptocurrency asset management services through its Security Services subsidiary. Clients who are digital asset fund managers can now elect to have Société Générale as their fund custodian, valuator and liability managers. The tools are designed to facilitate the addition of cryptocurrencies into institutional investors' portfolios.

21.09 / 14:37

business Stablecoin Banks Bitcoin USDC stablecoin Digital bank FV Bank integrates USDC stablecoin for direct deposits

The global digital bank FV Bank is the latest financial platform to enable deposits in Circle-backed stablecoin USD Coin (USDC).

21.09 / 11:53

business Adoption coinbase Coinbase to hand out ENS usernames to simplify wallet transactions

As simplified wallet addresses become more popular within the blockchain space, crypto exchange Coinbase integrated with Ethereum Name Service (ENS) to give their customers usernames to replace their traditional Coinbase crypto wallet addresses.

21.09 / 00:29

business Blockchain NFT Crypto Collectibles OpenSea to allow creators to host token sales directly through its homepage

OpenSea, the digital marketplace for crypto collectibles and non-fungible tokens (NFTs), has launched a new initiative to make it easier for creators to create and distribute NFTs on its marketplace.

21.09 / 00:29

business Blockchain litecoin Litecoin Foundation’s managing director shares his thoughts on decentralized money

Litecoin (LTC), known as “the silver to Bitcoin’s gold,” has been around for almost 11 years — which is quite a feat considering a fair amount of cryptocurrencies go bust within 12 months of launching. Cointelegraph spoke with the Litecoin Foundation’s managing director, Alan Austin, about why he thinks Litecoin’s core utility is serving as a reliable means of payment.

20.09 / 23:27

business Twitter XRP Indian Oman's Indian embassy Twitter account compromised to promote XRP scam

Scammers have hacked the official Twitter account of the Embassy of India in Oman, replacing the profile picture with Ripple CEO Brad Garlinghouse and using the reply function to spam users with fake XRP giveaway phishing links.

20.09 / 22:49

business Blockchain hacks CEO vulnerability Well-known vulnerability in private keys likely exploited in $160M Wintermute hack

Blockchain cybersecurity company Certik has said a vulnerable private key was attacked in the Wintermute hack. A vulnerability in private keys generated by the Profanity app was likely exploited. The vulnerability has been known since at least January.

20.09 / 20:43

business Blockchain Adoption defi Maple Finance launches $300M lending pool for Bitcoin mining firms

On Tuesday, institutional crypto lending protocol Maple Finance and its delegate Icebreaker Finance announced that they would provide up to $300 million worth of secured debt financing to public and private bitcoin mining firms. Qualified entities meeting treasury management and power strategies management standards located throughout North America, as well as those in Australia, can apply for funding.

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