Business Financial News

23.08 / 23:55

business NFT Fashion marketing Iconic brands including Nike, Gucci have made $260M off NFT sales

The hype surrounding nonfungible tokens (NFTs) has allowed some of the world’s most iconic brands to rake in hundreds of millions of dollars in additional revenue, underscoring the mass consumer appeal of digital collectibles.

23.08 / 23:07

business Blockchain Adoption testing e-CNY China begins next phase of CBDC testing with e-CNY payment for public transport

According to multiple sources, on Tuesday, China officially began rolling out the next round of its central bank digital currency (CBDC) pilot test program. In the city of Guanzhou, it is now possible to pay for public bus rides with the digital yuan (e-CNY) CBDC on 10 transit routes, which is a first for the country. To do so, passengers simply need to download the e-CNY app, deposit funds and scan the QR code located in the bus payment section to pay for their ride.

23.08 / 17:59

business Law Adoption saga Tornado Cash saga highlights legal issues affecting the crypto market

Things have not been looking too good for the crypto market in recent months, with the market seemingly being gripped by one piece of bad news after another. To this point, on Aug. 8, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued legal sanctions against digital currency mixer Tornado Cash.

23.08 / 17:59

business Government Asia Malaysian regulators add Huobi to investor alert list

The Securities Commission (SC) of Malaysia issued a statement on Monday regarding Huobi's operations in the country. According to the statement, the crypto exchange is now on the SC’s Investor Alert List.

23.08 / 16:05

business Adoption defi Investments Future Metaverse promises: Future of Web3 or just a market gimmick?

The Metaverse as a concept is an attempt to fuse physical reality, augmented reality (AR) and virtual reality (VR) into one seamless and immersive experience.

23.08 / 15:15

business Ethereum Bitcoin reports DBS bank reports 4X growth in Bitcoin buys on DDEx exchange in June

A major cryptocurrency selloff in June 2022 has sparked more interest in Bitcoin (BTC) from institutional investors, according to data from one of the biggest banks in Singapore.

23.08 / 09:27

business Investments Trading Terra Luna Crypto trader doubles portfolio in a month betting against Jim Cramer

Twitter-famous crypto trader AIgod has brought a smile to the community after announcing he’s doubled his "Inverse Cramer" portfolio in just a month by "simply" inverse trading against CNBC’s Mad Money host Jim Cramer.

23.08 / 08:39

business PayPal coinbase AML network Paypal adds to list of crypto heavy hitters on the TRUST network

Crypto-friendly digital payments giant Paypal has been added to the Travel Rule Universal Solution Technology (TRUST) network, joining a host of big names in crypto that have moved to comply with digital asset travel rules.

23.08 / 05:29

business Adoption Cybersecurity security Crypto security Crypto security experts raking $430K salaries amid 2022's hacking spike

The rise of crypto hacks over 2022 has skyrocketed demand for blockchain security experts, with some auditors making upwards of $430,000 per year.

22.08 / 22:05

business Blockchain Poster Tencent receives patent for blockchain-based missing persons poster

According to local news outlet 36kr.com, Chinese technology conglomerate Tencent recently received a novel patent for a blockchain-based missing person's poster. The patent took nearly three years to be awarded from the date of its first submission in December 2019.

22.08 / 22:05

business Sport Crypto.com Crypto.com moves forward with multimillion-dollar renovation of Staples Center following staff cuts

Despite announcing it would cut its staff by roughly 5% in June and the recent market downturn, cryptocurrency exchange Crypto.com has continued to move forward with an agreement to rebrand the Los Angeles-based venue formerly known as the Staples Center.

22.08 / 16:23

business Blockchain Ethereum Adoption Ethereum advances with standards for smart contract security audits

The Ethereum ecosystem continues to witness a flurry of activity that has individuals and organizations deploying token contracts, adding liquidity to pools and deploying smart contracts to support a wide range of business models. While notable, this growth has also been riddled with security exploits, leaving decentralized finance (DeFi) protocols vulnerable to hacks and scams.

22.08 / 14:11

business regulation Asia Correlation growing between crypto and equity markets in Asia, says IMF

Before the COVID-19 pandemic in Asia there was a strong division between the crypto and financial markets in general. Now, that border has got thinner and the situation demands additional regulatory measures, the International Monetary Fund (IMF) believes.

22.08 / 06:59

business Blockchain Bitcoin Mixers Ronin hackers transferred stolen funds from ETH to BTC and used sanctioned mixers

The hackers behind the $625 million Ronin bridge attack in March have since transferred most of their funds from ETH into BTC using renBTC and Bitcoin privacy tools Blender and ChipMixer.

22.08 / 05:47

business Government Senate Australia's new government finally signals its crypto regulation stance

Three months after being elected into power, the Australian Labor party has finally broken its silence on how it's planning to approach crypto regulation.

22.08 / 04:31

business hacks BUG Exploit Hackers exploit zero day bug to steal from General Bytes Bitcoin ATMs

Bitcoin ATM manufacturer General Bytes had its servers compromised via a zero-day attack on Aug. 18, which enabled the hackers to make themselves the default admins and modify settings so that all funds would be transferred to their wallet address.

21.08 / 12:17

business Blockchain Adoption Hackers Can Web3 be hacked? Is the decentralized internet safer?

Web3 came into existence posed as a blockchain-powered disruption to the current state of the internet. Yet, as a nascent technology, a fog of assumptions plagues discussions about the real capabilities of Web3 and its role in our day-to-day lives.

21.08 / 08:35

business Blockchain Adoption FTX revenue reportedly grew 1000% in one year, leaked documents reveal

FTX was among the many crypto exchanges with a front-row seat to witness the crypto hype of 2021, back when Bitcoin (BTC) and other cryptocurrencies hit their all-time highs. Driven by massive customer onboarding, partnerships, sponsorships and other factors, FTX’s revenue reportedly grew 1000% in 2021 — revealed internal documents.

20.08 / 15:17

business Blockchain Adoption AML safe Are non-KYC crypto exchanges as safe as their KYC-compliant peers?

Many see implementing Know Your Customer (KYC) tools in crypto as a deterrent to the Bitcoin (BTC) Standard, which has predominantly promoted anonymized peer-to-peer transactions. However, regulators stay put on promoting KYC and anti-money laundering (AML) implementations as a means to ensure investors’ safety and protection against financial fraud.

20.08 / 14:43

business defi Hackers community Fei Protocol founder proposes ghosting Tribe DAO following hack repayment

An attack in April 2022, which drained off nearly $80 million from various Rari Fuse pools, required the decentralized finance (DeFi) platform Fei Protocol to come up with a solution that minimizes damage to the ecosystem. Fei Labs’ latest proposal, which partly recommends revoking participation from Tribe DAO, received mixed sentiments from the community.

20.08 / 11:11

business Blockchain Technology Gaming Samsung, Alphabet, BlackRock among 40 top firms investing in blockchain and crypto

The biggest publicly traded companies to invest in blockchain and cryptocurrency companies between September 2021 and June 2022 include electronics giant Samsung, technology behemoth Alphabet, and investment management firm BlackRock, according to a study by crypto intelligence platform Blockdata.

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