Category Archives: Cryptocurrency News

Uphold Exchange will issue a Mastercard debit card with cashback in XRP

Uphold trading platform, together with GlobaliD, a provider of digital identity solutions, will issue a Mastercard debit card with up to 5% XRP cashback. As reported in an article on the GlobaliD blog, with this card, users will be able to pay with fiat or digital currency and receive cashback in XRP. They will have the option to spend the XRP they receive right away, or continue storing them in their digital wallets if users…

London hard fork activated on Ethereum mainnet

On August 5, at 15:33 Moscow time, the Ethereum network underwent a planned London update on block 12,965,000. After its activation, the network burns an average of 4.2 ETH (more than $ 10,500) every minute. The London update includes a proposal to improve the current Ethereum network, EIP-1559, which aims to burn off a portion of the Ether when paying transaction fees. The goal of EIP-1559 is to “balance” the cost of transactions on the…

Zcash founder invited the community to move to PoS consensus

Zcash founder Zuko Wilcox encouraged the community to abandon the Proof-of-Work (PoW) consensus method and switch to Proof-of-Stake (PoS). Since its inception, the Zcash blockchain has operated on a Proof of Work (PoW) consensus. Initially, the ZEC cryptocurrency could be mined on graphics processing units (GPUs). In 2018, Bitmain launched specialized ASIC miners for Zcash mining, after which GPU mining became obsolete. Wilcox now sees more benefits in Proof of Stake (PoS) consensus. Wilcox stated…

Stronghold Digital Mining will double mining capacity to 165 MW

Mining company Stronghold Digital Mining intends to increase its capacity to 165 MW through the acquisition of the Panther Creek power plant in Pennsylvania. Stronghold Digital Mining has signed an agreement to purchase the Panther Creek Power Plant, located on a 33-acre site in Carbon County, Pennsylvania. The power plant has a generating capacity of 80 MW and upon receiving regulatory approval, the deal will double Stronghold’s current capacity to 165 MW. Stronghold recently raised…

Independent Reserve Exchange Obtained a License in Singapore

The Australian Exchange Independent Reserve has been approved by the Monetary Authority of Singapore (MAS) to operate as a virtual asset service provider. The Independent Reserve said it has received MAS approval under the Payment Services Act (PSA). It provides clear regulatory rules for cryptocurrency firms and exchanges that intend to legally operate in Singapore. The law came into force in January 2020. According to the PSA, digital asset trading platforms are required to protect…

SkyBridge acquired 38,400 tons of tokenized carbon credits

Investment firm SkyBridge Capital partnered with carbon provider MOSS Earth to acquire tokens representing 38,436 tonnes of carbon credits. SkyBridge announced the purchase of tokens this week, and company founder Anthony Scaramucci predicts that the BTC mining industry “will be powered by renewable energy by the end of the decade.” Scaramucci believes that offsetting carbon emissions offers an “effective” tool for the sector to reduce its ecological footprint: “Carbon offsetting is an effective way to…

Matrixport received $ 100 million in the next round of funding

The Chinese cryptocurrency platform Matrixport held a Series C funding round, which raised $ 100 million.The company’s capitalization reached $ 1 billion. Matrixport was launched in 2019 as a subsidiary of mining equipment manufacturer Bitmain. The platform quickly gained popularity and now Matrixport has assets of $ 10 billion. The company’s clients have access to a wide range of services, including digital asset trading, lending and fixed income products. In the spring of 2020, Matrixport…

PayPal continues to expand its cryptocurrency team

PayPal is seeking employees for multiple cryptocurrency-related positions in its offices in Ireland, further underscoring the firm’s ambition in the fast-growing digital asset market. Payment giant PayPal has begun assembling a small team in Ireland to support cryptocurrency-related initiatives, according to a local publication Irish Independent. PayPal is looking for employees for offices in Dublin and Dundalk. In particular, the company is interested in hiring specialists in the direction of compliance with regulatory requirements related…

Finnish Customs is holding a tender among brokers for the sale of confiscated BTC

The Finnish Customs Service will select cryptocurrency brokers to sell bitcoins and other cryptocurrencies seized from criminals worth more than $ 78 million. According to a statement from the Finnish Customs, the agency is looking for performers to sell cryptocurrencies confiscated for the benefit of the state from criminals, mainly drug dealers. Registration for participation in the tender for cryptocurrency brokers is open until August 30, 2021. “We ask interested operators to take part in…

US Traders Massively Use VPN to Bypass Cryptocurrency Derivatives Trading Bans

US Traders Massively Use VPN to Bypass Cryptocurrency Derivatives Trading Bans According to a study by Inca Digital, American cryptocurrency traders bypass geo-blocking sites of foreign trading platforms using a VPN. Traders from the United States easily bypass the restrictions of cryptocurrency exchanges that have closed access based on geographic IP subnets. To do this, they use virtual private networks (VPNs) that change their location to the country where digital asset trading is allowed. In…