Category Archives: Cryptocurrency News

Binance withdrew lawsuit against Forbes journalists

Cryptocurrency exchange Binance withdrew a lawsuit against Forbes Media journalists, who published defamatory materials that tarnished the reputation of the exchange. About three months ago, Forbes journalists Michael del Castillo and Jason Brett wrote an article detailing the activities of Binance’s US subsidiary. The document presents a diagram codenamed “Tai Chi Organization”. With its help, the exchange allegedly bypasses the requirements of regulatory bodies, using a legal entity in the United States to conduct business…

Curve Finance had closed yVault2 liquidity pool after vulnerability was discovered

The developers of the DeFi Curve Finance protocol have found a vulnerability affecting the new yVault2 liquidity pool. The pool had to be closed. According to a statement on Twitter by Curve Finance, the vulnerability is affecting the new trading pool yVault2, which includes the Yearn Finance yield aggregator project. The pool was quickly closed to prevent an incident. Curve gives users the ability to switch between USD-backed stablecoins with extremely low fees and slippage.…

Central Bank of Nigeria bans banks from serving cryptocurrency companies

The Central Bank of Nigeria (CBN) has banned commercial banks from serving the accounts of cryptocurrency exchanges and other firms that operate with digital assets. As part of the ban by the central bank of Nigeria, all banks and financial institutions are required to close the accounts of firms that carry out operations with cryptocurrencies. If banks fail to comply with this directive, they face severe fines. The Bank of Nigeria reported that earlier commercial…

Gartner: Payments Companies Will Have To Integrate Stablecoin Payments

According to the findings of the Gartner researchers, centralized payment companies need to adapt in order not to be left behind by the growing demand for payments in stablecoins. In a blog post, analysts from research firm Gartner write that while support for cryptocurrencies by centralized payment systems such as Visa, Mastercard and PayPal helps them prepare for the transition to a future payment infrastructure, these companies’ revenue is based on the collection of transaction…

Report: blockchain developers move to DeFi projects

Engineers and developers are gradually switching from tier 1 blockchains that rival Ethereum to DeFi protocols. According to the latest blockchain industry trend report from venture capital firm Outlier Ventures, developers are shifting their focus from Ethereum rivals to DeFi apps. Ethereum has remained the most actively developed blockchain protocol over the past year, followed by Cardano and Bitcoin. The fourth place after the launch of the main network in October 2020 was taken by…

Glassnode: BTC Equally Distributed Between Whales and Retail Investors

Despite the rise in the number of whales in 2020, the amount of BTC in the wallets of retail investors has increased by 130% in three years. According to Glassnode, bitcoins are relatively evenly distributed across addresses with varying balance sizes. Glassnode researchers published this data in response to previously disseminated information that the bulk of bitcoins in circulation is concentrated in a few large addresses – only 2% of wallets control 95% of BTC.…

Binance Launched Binance Pay Beta

Binance cryptocurrency exchange has launched a beta version of the Binance Pay service for payments in five cryptocurrencies: BTC, ETH, BUSD, BNB and SXP. The exchange sees him as a potential competitor to PayPal. The beta version of the service was “secretly” launched last Friday. The management of the exchange announced this only today, at the virtual event Binance Blockchain Week. Binance CEO Changpeng Zhao said Binance Pay is “a contactless and secure technology for…

Visa develops cryptocurrency services for banks

Visa is developing a set of APIs for banking and financial institutions. They can provide their clients with services for working with cryptoassets. Payment card operator Visa and digital bank First Boulevard are preparing to launch a program for bank customers to buy, sell and store cryptocurrencies. First Boulevard’s neobank will be Visa’s first user programmable interface (API). The CEO and President of First Boulevard, Donald Hawkins (Donald Hawkins), believes that bitcoin is a new…

Sygnum Bank Has Tokenized Vintage Wines on Desygnate Platform

From February 1, Switzerland is allowed to issue tokenized assets. Sygnum Bank was the first to tokenize “investment vintage wines” by issuing tokens on the Desygnate platform. The Swiss bank Sygnum tokenized the first set of assets in accordance with the country’s new law on the use of distributed ledger technology (DLT). Sygnum Bank has teamed up with Fine Wine Capital AG to tokenize a range of “investment vintage wines” and has issued tokens representing…

Economists: “the concept of state-owned cryptocurrencies could turn out to be a failure”

Economists Peter Bofinger and Thomas Huss argue that government-owned cryptocurrencies may fail as a medium of exchange due to competition from private banks. According to an article on European economic policy analysis published by economists Peter Bofinger and Thomas Hass, cryptocurrencies issued by governments may be a failure because the concept lacks “understandable motivation.” Bofinger and Hass, of the economics department of the University of Würzburg in Germany, argue that central banks have been too…