NewsRoom Articles - Page 55 of 187

WednesdayMay 24, 2023 12:00 pm

How Adverse Weather Events, Crypto Slump Accelerated US Debt Ceiling Deadline

Without legislation lifting the debt ceiling, the U.S. government may soon be unable to pay its debts. But for some unexpected reasons, the “X-date” might be on an expedited timeframe. The Congressional Budget Office had predicted that the X-date would occur between July and September of this year. However, this month, Janet Yellen, the treasury secretary, wrote to House Speaker Kevin McCarthy stating that the treasury anticipated that it wouldn't be able to continue paying all of the government's obligations as early as June 1, 2023. This week, she reaffirmed the same timeline. Although the Treasury Department hasn't specifically said…

WednesdayMay 24, 2023 11:15 am

The 5th Annual Blockchain Futurist Conference to Support Crypto Ticketing Powered by EukaPay

Organized by Untraceable Events, the 5th annual Blockchain Futurist Conference will be held August 15-16 in Toronto The conference is considered Canada’s largest and most high-profile crypto, web3, and blockchain event attracting over 6,500 attendees and more than 150 speakers Attendees will get to purchase tickets using crypto thanks to a partnership between the organizers and EukaPay, a cryptocurrency payments processor EukaPay is launching a campaign on Bitcoin Pizza Day that will see ticket buyers enjoy 50% off on the prices of both general and VIP tickets, provided they use crypto Canada’s largest and most high-profile crypto, web3, and blockchain…

MondayMay 22, 2023 12:00 pm

Ripple Acquires Swiss-Based Crypto Startup as Crypto Rules Remain Murky

Blockchain company Ripple announced on Wednesday that it has acquired Swiss-based firm Metaco, a company that securely stores digital assets on behalf of clients, in an effort to increase its clientele globally and diversify its offerings. Though the terms weren't made public, Ripple CEO Brad Garlinghouse revealed that the company spent $250 million for the deal, calling it the year's largest acquisition. Through the acquisition, Ripple will have access to the Harmonize infrastructure from Metaco as well as the capacity to safely hold, distribute and settle any kind of tokenized asset. In turn, Metaco has direct access to Ripple's numerous…

FridayMay 19, 2023 10:30 am

G7 Members Urge for Expeditious Implementation of Cryptocurrency Asset Movement Regulations

A recent meeting was held in Niigata, Japan, by G7 committee members. The members gathered to talk about, among other things, the legal and financial repercussions of CBDCs and digital asset transfers. In a statement that summarized the deliberations, the committee emphasized its support for the creation of CBDCs, with the proviso that more research was required to make sure they were based on openness, data protection, cybersecurity and good economic governance. In the statement, the committee expressed appreciation for the International Monetary Fund's (IMF) efforts to create a CBDC Handbook and expressed anticipation for the first batch of deliverables…

ThursdayMay 18, 2023 10:30 am

Web3 Berlin Set to Host Europe’s Biggest Crypto & NFT Conference in June

Web3 Berlin is set to host an annual event on the 10th and 11th of June at the Estrel Congress Center. The conference promises to be an unforgettable experience where attendees can focus on networking, onboarding, and education about Web3, and most importantly, it aims to be the biggest Crypto & NFT event in Europe. The conference has already established itself as a major event on the Web3 calendar, having signed up more than 80 partners, including leading companies and organizations in the industry, such as Solana, Dash, Ramp, KuCoin, VeChain, Celo or Fantom Foundation. "We are aiming to create…

WednesdayMay 17, 2023 10:30 am

Why Bitcoin Has Surged Amid Crypto Industry Challenges

In recent months, the cryptocurrency sector has experienced several setbacks, including bankruptcies, the arrest of FTX founder Sam Bankman-Fried and regulatory action against leading exchange Binance. But despite everything happening, the cost of Bitcoin, the largest crypto, has increased. Bitcoin’s value has increased by 65% this year, outpacing the S&P 500's 7% increase by a wide margin. Even the NASDAQ, a heavily weighted index for technology, has only produced a fraction of Bitcoin's gains. According to analysts, Bitcoin has actually profited from the cryptocurrency crisis since the upheaval has driven investors away from unpopular coins and toward the market leader.…

MondayMay 15, 2023 9:00 am

PayPal Reveals Crypto Assets Totaling Almost a Billion Dollars

One of the largest online payment companies in the world, PayPal, has revealed that it owns roughly $1 billion worth of crypto on its financial statement. According to the company's balance statement, it has customer assets in litecoin (LTC), Bitcoin cash (BCH), ether (ETH) and Bitcoin (BTC).The details were made public in the SEC’s 10-Q filing, a financial performance report due every quarter that must include financial disclosures. PayPal revealed that it holds cryptocurrencies valued at $943 million. This represents a $339 million increase from the year's end. The business keeps internal records of the crypto assets possessed by its…

FridayMay 12, 2023 11:15 am

Deloitte Announces Blockchain Integration to Facilitate Digital Credentials

Deloitte, one of the top accounting firms, has integrated blockchain technology into its verification procedures to let users keep authentication information in a single digital wallet, streamlining the traditionally cumbersome procedures. Earlier this month, Deloitte stated that it has implemented the Polkadot parachain known as the KILT Protocol, making it possible to give its clients reusable digital credentials. The integration is intended to increase the effectiveness of Deloitte’s KYB and KYC verification procedures. According to Deloitte, customary and frequently ineffective procedures, such as issuing KYC and KYB certifications manually and requesting multiple data entries for verification when only a single…

WednesdayMay 10, 2023 11:15 am

Court Gives SEC 10 Days to Reply to Coinbase’s Allegations

In a statement made on May 4, 2023, by Paul Grewal, lead legal officer at Coinbase, the Third Circuit Court of Appeals has responded to a complaint the company filed against the U.S. Securities and Exchange Commission (SEC). The complaint addressed the need for transparent regulations governing the digital asset trade. Grewal stated that the SEC had 10 days to respond to the exchange’s writ of mandamus, which is an order from a court instructing an inferior government office to properly discharge their official duties. He also stated that Coinbase has been given seven days to respond to the SEC's…

MondayMay 08, 2023 9:00 am

Coinbase Launches International Exchange as SEC Intensifies Crypto Crackdown

The cryptocurrency exchange Coinbase announced the launch of Coinbase International Exchange (CIE), an institutional derivatives platform, on May 2, 2023, despite the myriad regulatory difficulties the U.S. crypto sector is currently experiencing. The CIE is anticipated to begin trading next week by announcing the listing of perpetual swaps for ether and Bitcoin. All transactions on the platform will be settled in Coinbase-supported stablecoins, eliminating the need for currency on-ramps. Coinbase underlined during the launch that institutional clients in qualifying non-U.S. jurisdictions can get direct trading access on CIE via an application programming interface (API). The CIE is currently not available…