Blockchain & crypto news from India
The CEO of a P2P marketplace, Paxful, recently sent a letter to millions of subscribers, announcing the removal of Ether from their market. Ray Youssef, the CEO, gave three reasons to remove Ether from Paxful: It was no longer using PoW, which makes Bitcoin the only honest cryptocurrency. With a PoS mechanism, Ether is now…
Argentina has created a national committee around blockchain. The committee will work towards creating public policies and solutions, and also network with blockchain agencies from the public sector. The Argentine government is also planning to set up Ethereum nodes to be run from data centers owned by the government. Back in 2019, Argentina had created…
A small handful of countries consistently rank among the top when it comes to rankings for being crypto-friendly to businesses. As 2022 nears its close, Singapore has emerged on top on various metrics, such as the number of crypto businesses, funds raised and activity of venture firms. Singapore was followed by the UK, Cayman Islands,…
The implosion of FTX has not only affected investors who kept their funds on the exchange, but also the wider crypto investing circles. Genesis, described in the past as the “Goldman Sachs of crypto”, is feeling the heat and has suspended withdrawals. However, those tracking on-chain flow of cryptocurrencies point out to positive signals based…
A hub of crypto mining, the New York State has cleared a bill to restrict crypto mining that uses POW mechanism used by blockchains like bitcoin. It is the first state to pass the law to ban some forms of crypto mining which has been under fire for its impact on the environment. A blockchain…
The early losses of star teams like Argentina are reflecting in the fortunes of the fan tokens issued by football teams on platforms like Socios. Argentina’s loss despite Messi’s early goal upset the fans so much that they dumped its ARG token. The price of ARG dropped by over 30%, declining from over $7 to…
The effects of FTX’s failure were far more severe than anticipated. The market was also impacted by the subsequent hack. The stolen cash were being relocated, albeit it’s still unclear what exactly happened during the hack. Huge sums of money from the $447 million in stolen money have been moving about over the last few…
The US bank JP Morgan Chase had filed a trademark for a crypto payment processing wallet under the name ‘JP Morgan Wallet’. Filed primarily under Class 35 and 36, the trademark has been approved, and its primary applications include payment reporting and analytics, electronic transfer of virtual currencies for use by members of an online…
The need for a CBDC appears to be growing along with regulations on crypto exchanges in the wake of the FTX collapse. A number of US banks have launched Proof of Concept pilot to create a digital currency for asset settlement. The list of institutions that are part of this pilot – the Regulated Liability…
The fallout of FTX debacle has sent out red alerts in the crypto trading world, and the stress now is on holding one’s own digital assets in wallets rather than keeping them on exchanges. Trading exchanges have gone a knee-jerk reaction, revealing their owned assets in what are called proof of reserves. Holding one’s crypto…