Category Archives: Cryptocurrency News

Ethereum developer predicts switch to PoS in September

The Ethereum puncture support engineer from the Ethereum Foundation announced the expected date for the merger of the test network with the main network and the transition to the Proof-of-Stake consensus mechanism. Tim Beiko has tweeted out a timeline for Ethereum to move from Proof of Work (PoW) to Proof of Stake (PoS). According to the document, the merger of Ethereum with the test blockchain is scheduled for September 19, 2022. The specialist warned that…

CedarFX – Trade with the First Eco-Conscious Broker

It’s not every day that you come across a broker with a vision to make a positive impact beyond the world of finance. CedarFX, however, is changing that perception. The leading online broker has recently launched a revolutionary Eco Account option to its traders, making it the first-ever Eco-conscious broker to exist! Through their various account options, CedarFX is dedicated to helping traders reach higher by offering ultra-high leverage and low spreads. Traders can get…

UN recommends that developing countries ban advertising of cryptocurrencies

The United Nations (UN) has recommended that developing countries take strong action against cryptocurrencies, warning of the risks associated with the industry’s lack of regulation. According to a report titled “All that glitters is not gold” published by the United Nations Conference on Trade and Development (UNCTAD), the organization acknowledged that cryptocurrencies have some advantages. However, their disadvantages far outweigh the benefits that individuals and financial institutions can reap. UNCTAD has proposed that developing countries…

Shanghai invests $52 billion in the metaverse industry

In the next three years, the Chinese government of Shanghai intends to implement a program to support projects in virtual reality. The municipal authorities of one of the largest metropolitan areas in China announced their intention to make the city a major technology center for the development of such projects. Government investment in the metaverse economy will be increased 30 times, from $1.5 billion to $52 billion. Wu Jincheng, director of the Shanghai Committee for…

Glassnode: The number of addresses in Bitcoin for the first time exceeded 1 billion

According to the analytical agency Glassnode, the volatility and problems of the crypto market did not stop the development of Bitcoin. Glassnode specialists reported that for the first time since the existence of the Bitcoin blockchain, the number of created addresses on the network on July 11 exceeded one billion, reaching 1,000,002,559 addresses by the end of the day. This suggests that Bitcoin, despite the fall of the cryptocurrency market, continues to be popular. The…

Charity Commission of England and Wales: “Contributions in cryptocurrencies are too risky”

The assistant director of the Charity Commission for England and Wales urged UK fund trustees to exercise caution when dealing with cryptocurrencies. Samuel Jackson published an article warning charities about the risks of accepting digital assets as donations as it is not clear how cryptoassets will evolve in the future. The assistant director advised fund trustees looking to “dive” into the world of cryptocurrencies to think carefully about their decisions in order to avoid problems…

Swiss Post is developing its own crypto depository platform

The Swiss Post banking division intends to provide customers with direct access to the cryptocurrency markets through the controlled PostFinance service. The Swiss financial system is undergoing dramatic changes. The emergence of domestic competitors such as banks Neon, Alpian, Yapeal, foreign competitors such as Revolut, and the launch of digital services by traditional commercial banks have reduced Swiss Post’s revenue and customer base. In this regard, the Swiss Post has announced a new service –…

Brazil’s largest payment service launches cryptocurrency exchange

The PicPay payment service, which works similarly to PayPal or Cash App, opens an internal platform for trading crypto assets. The team behind PicPay, a Brazilian fintech app, is confident that the launch of the cryptocurrency platform will allow more than 65 million users of the service to make transactions with crypto assets without leaving the app. “PicPay enters the cryptocurrency market to promote it not only as an investment, but also as a way…

Cryptocurrency projects are massively moving from Terra to Polygon

After the collapse of the Terra ecosystem, projects based on this blockchain are forced to migrate to other networks. One of the most popular directions was the Polygon solution. Currently, 48 decentralized finance (DeFi) projects and blockchain games are migrating to the Polygon network. This was written by the CEO of Polygon Studios Ryan Wyatt (Ryan Wyatt). “It’s been great to help and welcome all these great developers into our ecosystem. We are flourishing! Welcome!”…

Playboy will build a mansion in the Sandbox metaverse

Playboy will open a virtual mansion in The Sandbox metaverse with themed entertainment based on the company’s history. Men’s magazine Playboy is teaming up with metaverse platform The Sandbox to build a metaverse digital counterpart of the MetaMansion party mansion. The magazine plans to change its development strategy, relying on new trends, such as, for example, Web3. Inside the digital mansion, mini-games, collaborative social activities, organized events, and regular digital releases are promised. The theme…