NewsRoom Articles - Page 65 of 197

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…

FridayMay 05, 2023 11:15 am

CoinMarketCap to Run Shark Tank-Like Show for Crypto Industry

Crypto data tracking website CoinMarketCap is preparing to premiere a reality TV series titled “Killer Whales” in conjunction with Hello Labs, a Web3 entertainment platform. The anticipated show will have the same premise as the famous investing program “Shark Tank,” where millionaires listen to startup pitches and invest in the companies they find promising. In a recent update, Hello Labs stated that “Killer Whales” would include prominent crypto founders, entrepreneurs and influencers such as Champ Medici, Altcoin Daily and the Hello Labs team. Startups in the cryptocurrency space hoping to get funding and advice for navigating the Web3 business climate…

WednesdayMay 03, 2023 11:15 am

‘Mona& Frens: Web3 Is A Joke’ to Take Aim at Lighter Side of Internet Evolution in Bitcoin Week Miami Event

The fintech industry has taken its lumps along with other sectors during the post-pandemic global market turmoil but innovators and insiders continue to build the infrastructure of a bold Web3 revolution that includes a worldwide transformation of financial transaction philosophies. In the wake of well-known banking setbacks that have been part of the ups and downs of the fintech sector’s news cycle, creative comedy minds are celebrating the lighter side of life with the industry-focused comedy roast series Mona&Frens, established by ground-breaking South Asian stand-up laugh-generator Mona Shaikh. “Mona& Frens: Web3 Is A Joke” will provide a night of entertainment…

WednesdayMay 03, 2023 10:30 am

Legal Experts Say Global Coordination Needed in Crypto Regulation

During a panel discussion at Consensus 2023, legal professionals emphasized the value of coordinating global regulatory frameworks for cryptocurrencies while also taking regional variations into account. Marianne Bechara, a senior counsel at the IMF, pointed out that it would be unwise to treat all cryptocurrencies the same without considering the context. Brian Yeoh, director of fintech at Abu Dhabi Global Markets, noted there is some coordination, but he said there is room for local jurisdictions to address their specific circumstances. For several years, regulators have been trying to figure out how to best coordinate global crypto regulations. As a result,…

MondayMay 01, 2023 12:00 pm

Healthcare Innovators Explore NFTs to Improve the Management of Health Data

The COVID-19 pandemic played a significant role in the acceleration of the implementation of digital health solutions such as telemedicine, artificital intelligence (“AI”), robotics, remote monitoring and the Internet of Medical Things (“IoMT”). The collection and flow of health data increased as a result, and this trend is predicted to continue as patients and healthcare professionals become more used to digital solutions and as the healthcare sector prepares to meet future problems with developing technologies. With such developments, a group of medical innovators predicts increasing demand for privacy-preserving solutions to enable patients to take more responsibility for their health and…

FridayApr 28, 2023 9:00 am

EU Parliament Passes Crypto Regulations for the Bloc

The world's first comprehensive set of laws to govern the cryptocurrency sector was passed by the EU Parliament on Thursday, April 20, 2023, to combat money laundering and enhance oversight, and consumer protection. The Markets in Crypto-Assets (MiCA) rules, which were approved by a vote of 529 to 29 and will begin to take effect in stages in 2024, are the most significant effort by governments throughout the world to control the expanding market for digital assets. In a statement, the European Union expressed its hope that the new legislation will serve as a benchmark for other countries. MiCA, which…