Cryptocurrency News That Matters

Author: Michael Richards

Crypto Exchange Suspends Outbound Transfers Due To Security Concern

Crypto Exchange Suspends Outbound Transfers Due To Security Concern

Exchanges
Crypto.com suspended all withdrawals from the platform on Monday and is forcing users to reset two-factor authentication methods, according to tweets from the company. And while Crypto.com is claiming everyone’s money is “safe,” there were reports from users on social media that millions may have been lost to hackers. “Earlier today a small number of users experienced unauthorized activity in their accounts. All funds are safe,” Crypto.com said in a tweet on Monday. “In an abundance of caution, security on all accounts is being enhanced, requiring users to: Sign back into their App & Exchange accounts, [and] Reset their 2FA,” the tweet continued. “This update will be rolled out to users progressively over the next few hours. Once complete, withdrawals will be re-enabled. ...
Binance Sees Asia Market Share Reduce Under Regulatory Pressure

Binance Sees Asia Market Share Reduce Under Regulatory Pressure

Exchanges
Binance has deftly maneuvered through dozens of regulatory ecosystems to become the world’s largest cryptocurrency exchange with a daily trading volume exceeding that of its next four competitors combined. But even as its CEO Changpeng Zhao recently became the richest Asian man, according to the Bloomberg Billionaire Index, the company’s presence in Asia — where Binance got its start — is shrinking, while its current corporate headquarters remains shrouded in mystery. Binance is currently winding down its digital token payments business in Singapore after it became clear that regulators would not approve its application for a crypto license, and all customer accounts on Binance.sg will close on Feb. 13, according to the company. The crypto exchange is also currently banned or ba...
US Congress To Debate Bill Calling For Ban On Government Backed Cryptocurrency

US Congress To Debate Bill Calling For Ban On Government Backed Cryptocurrency

Markets
As the Fed pushes ahead with its crypto investigation into a digital dollar —which would create competition for major cryptocurrencies, such as bitcoin, ethereum, solana, XRP, and BNB—one congressman is seeking to ban government-issued digital currencies. This past Wednesday, Minnesota Republican Representative, Tom Emmer, introduced a bill that would put a damper on the Fed’s powers in issuing a digital currency directly to American citizens, which he thinks would put the nation on an authoritarian path. “Requiring users to open up an account at the Fed to access a US CBDC would put the Fed on an insidious path akin to China's digital authoritarianism," he said in a statement. "It is important to note that the Fed does not, and should not, have the authority to offer retail ban...
Coinbase Set To Enter The Derivatives Market And Ramp Up Market Competition

Coinbase Set To Enter The Derivatives Market And Ramp Up Market Competition

Exchanges
The top three crypto spot exchanges have recorded just over $25 billion in trading volume in the last 24 hours, according to CoinGecko. The top three exchanges for derivatives volume have done $70 billion in trades during that span. No wonder, then, that exchanges which only offer simple buying and selling want to get into futures and options contracts for Bitcoin and other cryptocurrencies. Coinbase, the only publicly traded cryptocurrency exchange in the U.S., announced on Wednesday that it will acquire derivatives exchange FairX to do just that. "Over time we plan to leverage FairX's infrastructure to offer crypto derivatives to all Coinbase customers in the US," it wrote. While FairX isn't exactly a household name, it has one major selling point: It's already regulated by...
NEAR Foundation Secures A Stunning $150m Investment From Digital Coin Venture Capitalists

NEAR Foundation Secures A Stunning $150m Investment From Digital Coin Venture Capitalists

Markets
Not for Profit layer-1 blockchain developer, NEAR foundation has recently announced they’ve secured $150 million in a funding round. The main investors are all well known cryptocurrency investment firms. They include, Dragonfly Capital, Three Arrows Capital, Amber Group, Mechanism Capital, Andreessen Horowitz, Mechanism Capital, and other crypto centered investors. NEAR foundation is preparing to enter to DeFi sector, and it’s understood that these funds will be used to help them achieve that. As is often seen before a major funding announcement, NEAR coin has been rising up the crypto charts and has increased in price by 24% compared to a week ago, on January 6th. According to Dragonfly general partner Ashwin Ramachandran, the raise was completed “end to end” in two weeks, r...
How Blockchain Can Reinvigorate The Publishing Industry

How Blockchain Can Reinvigorate The Publishing Industry

Blockchain
Blockchain technology is being used in many of the creative industries to protect royalties and copyright. But now, it could also help book publishers boost their profits using novel innovations. Australian book publishers are grappling with global disruption. They are also facing huge changes to their industry. Digital technologies are changing the entire paradigm. There is a lot of economic uncertainty in the industry. But there could be a way out. Researchers at Queensland University of Technology (QUT) are investigating how blockchain technology can help them not only survive, but thrive. Associate Professor Mark Ryan from QUT’s Creative Industries Faculty is leading the project. His team have developed a world-first in the book industry. It is a blockchain prototype system ...
Business Strategy Giant Launches Cryptocurrency Fintech Consultancy

Business Strategy Giant Launches Cryptocurrency Fintech Consultancy

Fintech
Building off a decade of helping the world’s fastest growing start-ups succeed by solving major regulatory and public affairs challenges, Tusk Strategies recently announced the launch of a new practice area focused on Crypto + FinTech. The firm announced that the practice group will be led by Eric Soufer, a Tusk veteran who’s led winning high-stakes campaigns for clients in financial services, mobility, and insurtech, and brings over a decade of high-level government and policy experience to the role. The group will advise Crypto and FinTech clients as they navigate complex regulatory and public affairs challenges in New York and across the country. Tusk’s Crypto + FinTech Practice will create and execute strategies in every area of public affairs, including: public policy and advo...
UK Investor Platform In Negotiations With Behemoth Technology Investor

UK Investor Platform In Negotiations With Behemoth Technology Investor

Fintech
According to weekend reports, UK based investor platform, PrimaryBid, is close to finalising the details of a $150m (£110m) funding round that will be led by the second of Japanese giant SoftBank's Vision Funds - which have amassed stakes in companies ranging from Uber to Revolut. PrimaryBid's Series C fundraising was likely to value the company at more than $500m (£368m) on a pre-money basis. It will represent another huge step for a company which says its goal is to democratise public equity markets by enabling ordinary investors to participate in cash calls from which they are frequently excluded. The issue became increasingly controversial during the early stages of the COVID-19 crisis, when scores of London-listed companies tapped institutional shareholders for money to ...
Cryptocurrency Exchange Fees – Compared And Contrasted

Cryptocurrency Exchange Fees – Compared And Contrasted

Exchanges
If you're looking to buy or sell any cryptocurrency, exchanges are invaluable platforms that provide key crypto stats, trading pairs, storage options, and so much more. While you can buy or sell crypto via a software wallet, having an account with a reputable exchange can open a lot of doors in terms of building your portfolio. But using an exchange can be costly, so finding the most affordable yet reputable options is crucial. So, which crypto exchanges offer the lowest fees for buying and selling? 1 Poloniex Founded in 2014 by Tristan D'Agosta, Poloniex is an American exchange that has risen through the ranks to become among the twenty most popular crypto exchanges worldwide with a daily trading volume of over $160 million. Based in San Francisco, California, Poloniex isn't ac...
Major Travel Agent Announces Intention To Create Own Tokens

Major Travel Agent Announces Intention To Create Own Tokens

NFTs
Blockchain OTA Travala.com is to release 1,000 exclusive membership club funding NFTs (Non-Fungible Tokens). The ‘Travel Tigers’ will be uniquely and randomly generated and are the key to the fast-growing agencies’ new Smart Diamond Membership. This loyalty programme will provide members with access to a range of offers and rewards or “ambassador bonuses”. Each quarter, a pool of travel credits worth 10% of Travala.com’s net revenue will be made available to claim by Smart Diamond members. Membership also provides members with the opportunity to receive random “travel drops” or prizes ranging from luxury hotels to flight tickets and private retreats. Travala.com will retain 100 of the Travel Tiger NFTs for marketing, promotion and future funding of the loyalty program. ...
Securities and Exchange Commission opens  lawsuit against manager of an Initial Coin Offering

Securities and Exchange Commission opens lawsuit against manager of an Initial Coin Offering

Markets
The United States Securities and Exchange Commission has filed a suit against Australian Craig Derel Sproule for the allegedly “fraudulent and unregistered” sale “of digital asset securities” in an initial coin offering (ICO) his company had conducted in 2018. The SEC alleges in a Thursday complaint that Sproule’s company, Metavine Inc., which operated the ICO for Crowd Machine (CMCT) from January to April 2018, sold unregistered securities, never made the project operational and “materially misrepresented how it intended to use ICO proceeds.” In total, the SEC said Sproule raised at least $33 million but that he now lacks “sufficient capital to fund continued operations.” The reason for his lack of funds goes to the core of the SEC’s case. A Thursday announcement from the SE...