Business Financial News

07.06 / 16:19

business Blockchain freeze NOT FTX will not freeze hiring amid layoffs at other crypto firms, CEO states

Amid unfavorable market conditions, some cryptocurrency-related firms decided to cut their workforce or freeze hiring. However, crypto exchange platform FTX will continue hiring new personnel as the crypto winter continues.

07.06 / 15:11

business Blockchain Adoption Investments Crypto.com's Cronos launches $100M accelerator for DeFi and Web3

Cronos, a blockchain ecosystem built by major crypto exchange Crypto.com, announced the launch of an accelerator program to fast-track advancements across the decentralized finance (DeFi), Web3 and Metaverse space among others.

07.06 / 15:07

business Blockchain Adoption Bitcoin Cybersecurity firm supports Bitcoin ‘mission,’ converts balance sheet to BTC

Another business jumps aboard the Bitcoin bandwagon. Octagon Networks, a global cybersecurity network company with over 20 employees announced on June 6 that it had “finished the process of converting its liquid assets and entire balance sheet into Bitcoin (BTC).”

07.06 / 13:59

business Stablecoin Payments Usd Coin settlement Checkout.com launches 24/7 stablecoin settlement in partnership with Fireblocks

Global payment processor Checkout.com has launched a new stablecoin settlement system that will allow merchants to process crypto payments from their customers in real time — potentially widening the use cases of stablecoins within e-commerce.

07.06 / 13:41

business debate How a nondescript tweet sparked a huge debate on Swedish hospitality

Normally, a single tweet from an unverified user would be lucky to get a few likes or reshares.

07.06 / 12:31

business Adoption IOTA DELL tracking Time IOTA Foundation joins Dell to develop real-time carbon footprint tracking

IOTA Foundation, a non-profit distributed ledger technology ecosystem provider, partnered with tech giant Dell Technologies to develop a data-driven solution for the real-time tracking of carbon footprints.

07.06 / 11:51

business defi Hackers DEX BUG Maiar decentralized crypto exchange goes offline after bug discovery

Minutes before 12 a.m. UTC on June 6, the CEO and co-founder of the Elrond Network, Beniamin Mincu, tweeted that he and his team were “investigating a set of suspicious activities” on the Maiar decentralized crypto exchange (DEX).

07.06 / 05:59

business ETF stocks Spot Crypto ETFs crypto ETFs Australian Two more spot crypto ETFs launch on Australian markets

A further two cryptocurrency-backed exchange-traded funds (ETFs) have launched on the Cboe Australia exchange on June 7 bringing the total amount of crypto ETFs available to Australian traders to six.

07.06 / 05:31

business Blockchain Adoption Investments Indonesia-licensed crypto asset platform Pintu raises $113M in Series B

Indonesian crypto asset platform Pintu announced the closure of a $113 million Series B funding round participated by four prominent investors Pantera Capital, Intudo Ventures, Lightspeed and Northstar Group.

06.06 / 22:25

business Blockchain regulation Gemini Exploit Financial IRA Financial Trust to sue Gemini over $36M crypto assets exploit back in February

On Monday, IRA Financial Trust, a platform providing self-directed digital asset retirement and pension accounts, filed a lawsuit against cryptocurrency exchange Gemini for alleged negligence in safeguarding customers' digital assets during a critical exploit. The firm's client accounts were held in Gemini's custody. On February 8, a breach led to the siphoning of $36 million in crypto assets from customers' accounts via unauthorized withdrawals.

06.06 / 19:37

business Blockchain Technology Adoption Corporate evolution: How adoption is changing crypto company structures

Crypto-focused companies have come a long way since their beginnings in terms of corporate structure, employee motivation, decision-making systems, compliance and other aspects of their operations. While the early 2010s saw startups founded by small groups of crypto enthusiasts, the space has since grown to become home to large institutional businesses.

06.06 / 18:09

business Blockchain Adoption Bitcoin Future Financial Crypto 401(k): Sound financial planning or gambling with the future?

In April, United States-based retirement plan provider Fidelity Investments moved to allow 401(k) retirement savings account holders to invest directly in Bitcoin (BTC), the flagship cryptocurrency, making crypto a potential part of one’s savings for the future.

06.06 / 12:13

business Blockchain NFT rights MetaBrewSociety to offer voting rights over a brewery via NFTs and DAO

Munich-based MetaBrewSociety (MBS) will soon offer voting rights on the business decisions of a physical brewery via nonfungible tokens (NFTs) and a decentralized autonomous organization (DAO).

06.06 / 09:15

business Law Crowdfunding DeFi community rallies behind PoolTogether to hit $1.4M NFT defense funding target

No-loss lottery decentralized finance (DeFi) platform PoolTogether has reached 100% of its legal defense funding goal via the sale of NFTs.

06.06 / 06:19

business Blockchain cryptocurrency Bitcoin Cryptocurrency Prices Today June 06: Bitcoin, Ethereum up 3%, Polkadot biggest gainer

Cryptocurrencies traded in the green early today on June 06. The global crypto market cap is $1.27 trillion, a 3.47 percent increase over the last day. The total crypto market volume over the last 24 hours is $50.20 billion, which makes a 14.62 percent increase.

05.06 / 10:35

business Blockchain Technology Adoption Global Web3 metaverse and tax initiatives continue in the face of a market meltdown

In her monthly Expert Take column, Selva Ozelli, an international tax attorney and CPA, covers the intersection between emerging technologies and sustainability, and provides the latest developments around taxes, AML/CFT regulations and legal issues affecting crypto and blockchain.

05.06 / 08:15

business Blockchain Ethereum Hackers Yuga Labs’ BAYC, OtherSide Discord groups breached, over 145 ETH stolen

Yuga Labs, the creator of two of the most popular ape-themed nonfungible token (NFT) offerings — Bored Ape Yacht Club (BAYC) and OtherSide — witnessed yet another orchestrated phishing attack with investors losing over 145 Ether (ETH) or nearly $260,000 at the time of writing.

05.06 / 05:17

business Blockchain Technology Adoption Beyond the hype: NFTs can lead the way in transforming business experiences

Many businesses and big brands have already jumped on the nonfungible token (NFT) bandwagon, including Nike, the National Basketball Association, Pepsi and even Taco Bell. But are these just for the show, or are these NFTs creating value? Much like digital services have become essential for every business in and outside of the technology sector, I believe that tokens — and, specifically, NFTs — are likely to become equally crucial in the emerging Web3 economy for at least two reasons.

04.06 / 11:49

business Blockchain investigation Investigations South Korea ramps up crypto investigations and regulations

On Friday, June 3, South Korea’s Financial Supervisory Service (FSS) began an investigation into payment gateway services that work with digital assets. The FSS is South Korea’s financial regulator that operates under the Financial Services Commission (FSC), both of which are government institutions.

04.06 / 05:51

business Blockchain Technology Adoption businesses Smart contracts can redesign legal agreements, but businesses beware

When was the last time you got a late payment? Chased an invoice? Waited for your monthly paycheck only to realize it’s late yet again? You might relate to these headaches as an investor, employee or client. But the tension that affects each of these unique parties is often caused by one unwavering contributor: an underlying traditional contract.

03.06 / 19:31

business Binance Apple goldman sachs Helicopter Crypto Biz: Helicopter CBDC money rains on Shenzhen, May 26—June 1

China’s pandemic-hit economy needs all the help it can get after a surge in COVID-19 infections triggered mass lockdowns across the country. In an attempt to revive consumption, the southern city of Shenzhen used Beijing’s central bank digital currency, or CBDC, to airdrop free money to local residents. A similar strategy was used in the northern Hebei province, where even more digital yuan was deployed. Think of all the things governments can do when they have full control over fiat money on-ramps.

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