Category Archives: Cryptocurrency News

WeWork Founder Raises $70M for New Crypto Startup

New cryptocurrency startup Flowcarbon aims to bring the voluntary market for carbon units to the blockchain. Adam Neumann, founder and former CEO of American commercial real estate company WeWork, has launched a cryptocurrency startup. His enterprise Flowcarbon will try to transfer the voluntary market for carbon units to the blockchain. The company has now closed a $32 million venture capital round led by Andreessen Horowitz (a16z) and raised an additional $38 million through the pre-sale…

South Korean exchanges banned anonymous transactions for Litecoin owners

The largest crypto exchanges in South Korea, Bithumb and Upbit, have warned LTC owners about blocking confidential transactions that violate KYC and AML rules. Bithumb and Upbit have officially warned against transactions using Mimblewimble technology, which provides privacy on the blockchain. The use of anonymous transactions violates Korean reporting laws and regulators’ requirement for crypto exchanges to implement know-your-customer (KYC) and anti-money laundering (AML) procedures. Crypto exchange representatives warned that deposits created using Mimblewimble privacy…

Quantum Blockchain introduced new bitcoin mining algorithms

The British company Quantum Blockchain Technologies said that it has developed new approaches to the mining algorithm that improve the performance of the equipment. Quantum Blockchain began experimental bitcoin mining on its own platform a year ago using the standard version of the SHA-256 algorithm. In real time, the company’s specialists collected data on the mining parameters of the first cryptocurrency. Then the received information arrays were transferred for processing using machine learning tools and…

Vitalik Buterin: Ethereum’s transition to PoS may take place in August

Ethereum co-founder Vitalik Buterin and several other developers confirmed that the transition to the new Proof-of-Stake consensus mechanism could take place as early as August this year. The Ethereum Dev Council at the Permissionless conference said that the long-awaited transition to the Proof-of-Stake (PoS) consensus mechanism could take place as early as August this year, “if everything goes according to plan.” Developer Preston Van Loon said the team hopes to make the transition before the…

Crypto exchange Binance added support for Optimism

Binance, the largest cryptocurrency trading platform, announced the completion of work on the integration of a second-level solution for the Optimism Ethereum network. Already now, according to the exchange website, users can make deposits in ETH through the Optimism solution. To do this, they will simply need to select the Optimism network on the top-up page. Support for Optimism will speed up the process of depositing ETH on the Binance exchange, as well as save…

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…

President of Panama refused to sign the cryptocurrency bill

Panama’s President Laurentino Cortiso has said he will not sign a bill to regulate cryptocurrencies in the country until it includes tougher anti-money laundering measures. In April, the Economic Affairs Committee of the National Assembly of Panama (AN) approved a bill to regulate digital assets. It aims to make it easier for cryptocurrency exchanges to obtain licenses to operate in Panama. If the bill goes into effect, the government will also use blockchain to transparently…

Media: South Korean regulator fined Terraform Labs $78 million

The South Korean tax authorities have set their sights on sinking Terraform Labs and its co-founder Do Kwon. Terraform Labs and its co-founder Do Kwon have been fined 100 billion won ($78 million) by South Korea’s National Tax Agency, according to a report published by local publication Naver, on charges of tax evasion. Earlier it was reported that the company attracted the attention of the supervisory authorities of South Korea amid the collapse of LUNA…

The Dutch regulator urged investors to refrain from trading in cryptocurrency derivatives

The head of capital markets oversight and transparency at the Netherlands Financial Markets Authority (AFM) has declared crypto assets unsuitable for investment. Paul-Willem van Gerwen stated that despite the growing market interest in cryptocurrency derivatives trading, AFM views such trading as risky. The regulator considers this market not mature enough compared to other derivatives markets. According to the head of the oversight department, due to the volatility of crypto products, a problem arises in which…

Bitfarms cut business development plans after falling profits in Q1 2022

Canadian mining company Bitfarms reported a drop in net profit to $5 million in the first quarter of 2022. In this regard, the company’s management decided to reduce plans for business development. According to Bitfarms financial reports, the company’s net profit for the first quarter of 2022 fell to $5 million, which is 50% less than the profit for the fourth quarter of last year. Therefore, the management of Bitfarms decided to reduce the scale…