Cryptocurrency News That Matters

Author: Alexa Durham

Russian Central Bank Urges Government To Fully Ban Cryptocurrency

Russian Central Bank Urges Government To Fully Ban Cryptocurrency

Markets
Russia must ban cryptocurrencies, the country's central bank said in a report released Thursday. The report, "Cryptocurrencies: trends, risks, measures," was presented during an online press conference with Elizaveta Danilova, the director of the Bank of Russia's Financial Stability Department. The report says cryptocurrencies are volatile and widely used in illegal activities such as fraud. By offering an outlet for people to take their money out of the national economy, they risk undermining it and making the regulator's job of maintaining optimal monetary policies harder, the report says. The bank, therefore, suggest Russia needs new laws and regulations that effectively ban any crypto-related activities in the country. In particular, cryptocurrency issuance and organizati...
Blockchain Company Secures $360 Million To Continue NFT And Metaverse Expansion

Blockchain Company Secures $360 Million To Continue NFT And Metaverse Expansion

Blockchain
Animoca Brands has raised nearly $360 million in a new funding round that values the Hong Kong-based blockchain gaming business at $5 billion, the company announced Tuesday. The investment more than doubles its previous valuation of $2.2 billion from October 2021 and brings its total capital raised to almost $700 million. It plans to use the money for acquisitions, product development and licensing additional intellectual property. The funding, which continues an explosive period for blockchain gaming and non-fungible tokens, was led by Liberty City Ventures and included additional investors such as Winklevoss Capital and Soros Fund Management. The market for NFTs exploded to nearly $25 billion in 2021, from just under $100 million in 2020, according to data from NFT sales tracking...
Challenger Banks On The Rise In Underserved Markets

Challenger Banks On The Rise In Underserved Markets

Fintech
Fintech Farm, a newly launched fintech startup based in the U.K. that creates digital banks in emerging markets, confirmed to TechCrunch today that it has raised $7.4 million in seed funding. The company said it plans to use the investment to launch neobanks in eight countries over the next 24 months. Flyer One Ventures and Solid led the seed round. TA Ventures, Jiji, u.ventures and AVentures Capital also participated. Digital banks, neobanks, challenger banks or whatever you may call them, are among the biggest recipients of VC investments in fintech. Globally, hundreds have sprung forth the past few years to challenge incumbents in their respective markets. In Eastern Europe, for instance, Ukrainian neobank Monobank, in just the years of operations, has amassed over 4.5 mil...
NFT Market Continues Its Fast Start To The Year, Despite Recent Crypto Downturn

NFT Market Continues Its Fast Start To The Year, Despite Recent Crypto Downturn

NFTs
January 2022 continues to be rough for crypto investors as current markets see turbulent fluctuations in the price of Bitcoin (BTC) and other cryptocurrencies. Some have attributed the slump to recent federal intentions to introduce new rate hikes, and the political turmoil in Kazakhstan, which significantly lowered the hash rate of Bitcoin. On Jan. 14, the price of Bitcoin dipped below $42,000 as traders continued to hold out hope for bullish signals. Nonfungible token (NFT) trading and blockchain games, on the other hand, seem to have resisted the dip. According to reports from DappRadar, NFT transactions continued to increase amid declining crypto prices. The report stated that “the number of UAW connected to Ethereum NFT DApps grew by 43% since Q3 2021.” Numbers from the report...
Cardano Blockchain Embraces Metaverse

Cardano Blockchain Embraces Metaverse

Blockchain
As Non-Fungible Tokens (NFTs) explode onto the Cardano blockchain, the Metaverse officially arrives in the form of the pavia.io project, which is somewhat similar in style to Decentraland but build on proof of stake blockchain technology. In the same way the Cardano blockchain took inspiration from the famous mathematician Gerolamo Cardano, this metaverse project takes its name from his 1501 Italian birthplace, Pavia. As art-based NFT sales boom on Cardano, thanks largely to the CNFT.IO trading platform with its pre-smart contract launch in the summer of 2021 and low network transaction fees, early adopters now appear to be turning their attention to NFTs which offer more utility than a social media profile picture ‘flex’. In total pavia.io has some 100,000 Land parcels, each...
China’s Crackdown On Cryptocurrencies Will Not Target Digital Collectibles

China’s Crackdown On Cryptocurrencies Will Not Target Digital Collectibles

NFTs
Despite China declaring all cryptocurrency transactions illegal last year, China doesn’t want to miss out on the potential trillion dollar NFT market. It’s been noted that Chinese Businesses involved in the creation and sale of NFTs have been badly hit by the country’s decision to crackdown on cryptocurrency. This has in turn prompted China to draw a clear distinction between cryptocurrencies and nonfungible tokens. Making it clear that the NFT ecosystem is safe in China and has the government’s full support. The Blockchain-based Service Network (BSN), a government-backed blockchain project in China, is working on infrastructure that would support businesses and individuals to build platforms and apps to manage NFTs, the South China Morning Post reported. Officially called th...
Could This Blockchain Technology Company Be The Solution To Safeguarding NFT Assets

Could This Blockchain Technology Company Be The Solution To Safeguarding NFT Assets

Blockchain
It could be argued that NFTs are now well established as a method of digital ownership. Many industry commentators even suggest that NFTs could become a larger and more wide reaching market than cryptocurrencies in and of themselves, including bitcoin. Because NFTs can be used to record ownership of anything, including buying virtual land, books, film rights, game publishing and more, it can be argued that the use cases for NFTs are infinite. When cryptocurrencies were first emerging out of the ‘digital’ world and into mainstream investment portfolios and discussions, many people viewed them as a scam. Cryptocurrency founders and captains of the industry had to work tirelessly to prove the legitimacy digital currency and its secure nature. However, that didn’t stop scammers prey...
Acceptance Of Cryptocurrency Payments In The Housing Market Continues To Increase

Acceptance Of Cryptocurrency Payments In The Housing Market Continues To Increase

Markets
Cryptocurrency payments for real estate are taking off, according to Upnest.com. And it’s not just bitcoin. Real-estate developer, Harbor Custom Development, will start accepting cryptocurrency payments for its developments, starting Jan. 24, 2022. The company will accept Bitcoin, Ethereum, USDC, XRP, DOGE, SHIB, Binance USD, Wrapped BTC, Litecoin, Dai, Bitcoin Cash, Pax Dollar, and Gemini Dollar. Before the launch date, the company may add or remove cryptocurrencies from the list. They will accept cryptocurrency for various real-estate types, including condominiums, apartments, residential homes, developed lots, and listed land. The company does work in Puget Sound, Sacramento, California, Austin, Texas, and Punta Gorda, Florida. All deals will ultimately be settled in dollars....
Asian Payments Gateway Goliath Aims To Raise $500m In US IPO

Asian Payments Gateway Goliath Aims To Raise $500m In US IPO

Fintech
Currently valued at $3b, Pine Labs seeks to raise about $500 Mn at $5b-$7b. Previously, the startup was reportedly looking for a $1b IPO. Pine Labs has hired investment banks Morgan Stanley and Goldman Sachs to manage the proposed IPO — a mix of fresh and secondary issue. Fintech unicorn Pine Labs is moving ahead with preparations for a US listing. The merchant commerce platform is looking to raise about $500 Mn (down from previous reports suggesting $1b IPO) at $5b-$7b. Currently valued at $3b, the point of sale (PoS) and merchant commerce solution provider has filed confidentially with the US Securities and Exchange Commission (SEC) for its IPO in New York, according to a Bloomberg report. For the uninitiated, companies looking to list have more flexibility when filin...
Do These Metaverse Coins Have The Potential To Propel Your Wealth In 2022

Do These Metaverse Coins Have The Potential To Propel Your Wealth In 2022

Markets
Even though crypto markets are struggling right now, Metaverse crypto coins are holding support well, with some gaining over 1000% in the past 7 days. This article looks at our handpicked top ten Metaverse crypto coins that could propel your wealth in 2022, ordered by the current market cap, lowest to highest. 10 Verasity (VRA) – $114M Launched in 2019, Verasity enables users to earn VRA tokens by viewing videos with its proprietary Proof-of-View (PoV) protocol. Verasity’s network ensures that traffic is organic, increasing advertising revenue for publishers. Verasity includes three main products, VeraViews, VeraWallet, and VeraEsports. VeraViews is an end-to-end ad-stack solution combining aspects of transparency and accountability with VRA’s proof of view protocol. VeraW...
Can Metaverse Help Standardize Digital Asset Reporting

Can Metaverse Help Standardize Digital Asset Reporting

Markets
The idea of the metaverse has rapidly seized the public conversation, for good or bad, and is a recurring theme in a good number of crypto conversations. Even with all of this conversation, however, there still is a gap between what crypto native organizations or experts perceive the metaverse to be, and what the – much larger – non-expert population understands the concept to represent. Despite this, the trend and pivot toward augmented and virtual reality applications is seeming to continue unabated, and this has several important implications for the cryptoasset marketplace going forward. Accounting, auditing, and the valuation of cryptoassets all represent issues and open items for every market participant seeking to integrate these financial instruments into ongoing operations...
Digital Asset Company Officially Accepts Ripple Under Its Custody

Digital Asset Company Officially Accepts Ripple Under Its Custody

Markets
The value of digital assets along with the technology infrastructure that it supports can no longer be ignored, as reflected in the landmark increases in cryptocurrency participation we saw in 2021. Digivault, the digital asset custody business within Nasdaq-listed cryptocurrency exchange, has achieved a 30-fold increase in assets under custody in the 2021 calendar year. The crypto custodian, which already supported 50 tokens, including Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Polkadot (DOT), has now added Ripple (XRP) to its assets under custody. XRP, the crypto fighting an SEC lawsuit The timing is quite interesting as the company doesn’t seem to be concerned with the potential repercussions stemming from the ongoing SEC v. Ripple lawsuit. Crypto exchang...
How Blockchain Is Creating New Rules Of Personal Identity

How Blockchain Is Creating New Rules Of Personal Identity

Blockchain
Your blockchain identity can’t just be about government-backed or biometric identity. It should also reflect the identity you’ve created for yourself in the digital world. According to Trust ID, passports and ID cards are the most commonly faked documents. In fact, fake passports have become a major international problem. Since 2002, more than 40 million passports have been reported lost or stolen. Illegal immigrants and terrorists often obtain and use these passports to cross borders. Recently, a man in New Jersey’s Hudson County was sentenced to 27 months in prison for using fake passports to open bank accounts into which he and others deposited phony IRS refund checks, causing the banks to lose more than $450,000. Even in the digital world, our identities are difficult to ...
Binance Aims To Democratize The NFT Market

Binance Aims To Democratize The NFT Market

NFTs
Due to the rise in demand, it’s increasingly harder to purchase nonfungible tokens (NFT) on their initial launch. Because of the limited supply and high demand, some NFT drops have sold out after only a few minutes of release. With this, users who are interested in purchasing newly released collections have no choice to wait until the initial owners decide to flip the NFTs for some profit, resulting in having to pay more or not being able to acquire any of the NFTs entirely. Therefore, Binance introduced a subscription mechanism that lets everyone have an equal opportunity to buy newly released NFTs on its marketplace. The marketplace’s new NFT Subscription Mechanism lets users have a higher chance of being able to purchase NFTs by limiting the allowed amount of NFT purchase per...