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2022-08-30 17:30:18 Binance, Virtuzone Sign Strategic Partnership to Focus on Advancing Web 3 in UAE

The company wants to play a key role in the Web 3 movement in the UAE while promoting and advancing the use of crypto. Leading providers of corporate and business formation services in UAE, Virtuzone has partnered with Binance to accept cryptocurrency payments via Binance Pay. For context, Binance Pay happens to be proprietary cryptocurrency payment technology designed by the exchange to conduct contactless, borderless, and secure crypto payments and transfers. JA Resorts and Hotels and Majid Al Futtaim are some of the other companies in the UAE that have already integrated Binance Pay into their systems.

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2022-08-30 11:45:02 Formula 1 to Dive Deeper Into Crypto and NFTs

Formula One plans to introduce NFTs and virtual items ahead of the Las Vegas Grand Prix in November 2023. The highest class of automobile racing – Formula 1 – filed two trademarks related to non-fungible tokens (NFTs) and cryptocurrencies for the Las Vegas Grand Prix event, scheduled for November 2023. This is not Formula 1’s first interaction with the digital asset sector. One of the leading exchanges – CryptoCom – served as its Global Partner, while other platforms, including FTX, have inked agreements with some of the best-performing teams. The contest will be one of the few events to be held during the night.

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2022-08-30 08:01:16 Grayscale Filings Reveal Spat With SEC Over Security Status of Less Popular Altcoins

Digital asset manager Grayscale filed applications for Stellar (XLM), Zcash (ZEC), and Horizen (ZEN) trusts in June 2022 and then in mid-August 2022. The second filing responded to a query by the Securities and Exchange Commission’s Division of Corporate Finance, questioning Grayscale’s analysis of the coins according to existing securities laws. The filings cast a dubious light on the new trusts as the bear market puts pressure on Grayscale’s other trusts. Grayscale’s cryptocurrency trusts provide investors with easy exposure to digital assets alongside stocks and bonds.

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2022-08-30 02:50:09 FTX has no plans to buy crypto exchange Huobi, says CEO Bankman-Fried

FTX is not planning to acquire crypto exchange Huobi, the company's founder and CEO Sam Bankman-Fried said on Twitter. Bankman-Fried's comment follows a recent Bloomberg article naming FTX and Tron founder Justin Sun among a list of investors that have had "preliminary contact" with Huobi as its founder Leon Li looks to sell about 60% of the company. Li is seeking a $2 billion to $3 billion valuation for the company and has reached out to "several international institutions," according to Bloomberg. But following the publication of that report, Bankman-Fried took to Twitter to quash the idea of his firm's involvement.

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2022-08-29 22:09:06 $3.6 Billion Worth of Ethereum Got Burned Since the implementation of EIP-1559

Since the implementation of EIP-1559, billions worth of ETH have been removed from the market, helping the asset on its way up as an enormous selling volume could no longer reach the market. The amount of burned ETH coins exceeded 2.6 million, which is about $3.7 billion at the current price. If we measure the burned amount by the ATH, the value would be even higher, sitting at around $12 billion. More importantly, the annual inflation rate of Ethereum tumbled by more than 50% pushing Ether closer to becoming a deflationary asset, meaning that the issuance of the coin will drop below the burn rate.

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2022-08-29 14:00:25 Bitcoin mining difficulty set for 8-month record gains despite BTC price dip

Bitcoin (BTC) may have hit six-week lows of under $20,000 but its network fundamentals are anything but bearish. The latest on-chain data shows that, far from capitulating, hash rate and difficulty are making snap gains. Despite being down around 7% in a week, BTC/USD is not putting off miners, who have recently exited their own multi-month capitulation phase. Now, with hardware and competition returning to the network, fundamental indicators are firmly in "up only" mode as August draws to a close.

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2022-08-29 10:15:06 Crypto Economy Slides Under $1 Trillion, as Bitcoin and Ethereum Dive Below Previous Support Zones

On Saturday, August 27, 2022, the global market capitalization of all the crypto assets in existence dropped under the $1 trillion mark and the leading crypto asset bitcoin slipped below the $20K region for the first time since mid-July. Digital currency markets this weekend are feeling the pain as the global cryptocurrency. That was after the crypto economy shed more than 6% the 24 hours prior. The crypto market’s major decline took place almost immediately after Fed chair Jerome Powell gave his speech at the annual Jackson Hole Economic Symposium on Friday.

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2022-08-29 02:50:06 NearPay Brings Virtual Crypto Cards And A Wallet For iOS As Well As Android Users

NearPay a crypto finance protocol has now launched virtual crypto cards and a wallet for iOS and Android users. NearPay is now made available on all platforms which include the Web, iOS and Android. The platform lets its users buy digital assets using credit cards or even through a bank transfer. The entire process of transacting has been made easier, as users can send, receive and exchange a digital asset without hassle. The finance protocol has attempted to bring a modern digital banking experience across the industry.

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2022-08-28 22:45:08 Mt.Gox Creditor Denies Fake Report About Imminent Release Of 140,000 BTC

Eric Wall, one of the creditors of the infamous crypto exchange Mt. Gox denied the report about an imminent distribution of 140,000 BTC. He said that the payout system has not been created yet, not even a choice of exchange on which affected investors will be able to receive their payouts is ready. As it stands, there are no final dates yet. According to rumors spread the day before, Mt. Gox was supposed to start Bitcoin compensations today, Aug. 28. Many were alarmed by the situation, viewing the rumor as a "black swan" for the cryptocurrency market.

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