Category Archives: Cryptocurrency News

The Korean division of the Huobi crypto exchange intends to cut off relations with Huobi Global

News1 reports, citing unnamed Huobi Korea sources, that on January 9, 2023, the Korean division of the Huobi Global cryptocurrency exchange began preparing a buyback procedure for its shares owned by the parent company. The Korean branch plans to change the commercial name: “Huobi Korea is constantly suffering from the image of the Chinese exchange. The name change and share buyback can be interpreted as an attempt to show that it is a safe, national…

Coinbase to Pay $100M to Settle NYDFS Lawsuit

Cryptocurrency exchange Coinbase has agreed to pay $100 million to settle claims by the NYDFS accusing the exchange of non-compliance with AML rules from 2020 to 2021. This came to light in a consent-based injunction signed Jan. 4 by New York State Department of Financial Services (NYDFS) superintendent Adrienne Harris. Earlier, the regulator accused the marketplace Coinbase of failing to take proper anti-money laundering measures in 2020 and 2021. The document states that Coinbase’s non-compliance…

Bitcoin at $40,000: Eric Voorhees made a forecast on the timing

The CEO of the ShapeShift cryptocurrency exchange believes that the bitcoin rate will soon begin to grow and by the summer of this year the first cryptocurrency will cost $40,000. Erik Voorhes made the announcement in an interview with Bankless. The businessman believes that Bitcoin is ready for a “large-scale return.” The ShapeShift CEO expects a new bull cycle in the cryptocurrency market, thanks to which BTC will reach new records. However, in this case,…

Australia and Poland overtake El Salvador in the number of installed cryptomats

El Salvador lost its position as the fourth largest country in terms of the number of crypto ATMs, giving way to Australia and Poland, according to Coin ATM Radar, an observer of the crypto ATM network. As part of the campaign to bitcoinize the economy of El Salvador, the government of the country has installed 212 cryptomats. At the initial stage, this allowed El Salvador to enter the top three, after the USA and Canada.…

Vitalik Buterin supported Solana blockchain developers

Ethereum co-founder Vitalik Buterin expressed support for the Solana blockchain, which is going through difficult times after the collapse of the FTX cryptocurrency exchange. The situation with the FTX exchange provoked a serious drop in the price of SOL, which fell below $10 for the first time in two years, as a result of which the coin dropped to 17th place in terms of market capitalization. Several platforms are planning to move from Solana to…

Automaker BMW creates a loyalty program on the blockchain

The German company BMW intends to introduce blockchain into its daily work, in particular, by launching a loyalty program for its customers in Thailand. The automaker has hired blockchain infrastructure developer Coinweb as a decentralized architecture provider, and BMW will use the BNB network to settle transactions. The company is integrating the blockchain in two phases: first, it will be used to automate complex manual processes and streamline the company’s car finance services. In the…

Bitcoin network hashrate collapsed by 30% amid US snowstorm

The average hash rate of the Bitcoin network has fallen by 30%, from 230 Eh/s to 155 Eh/s. Such a significant drop in the indicator is connected with the ongoing bad weather in the United States, due to which many miners turned off the equipment. The United States remains the leader in terms of the contribution to the hashrate of the network of the first cryptocurrency – on average, American miners generate 37% of the…