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2022-12-20 21:41:01 Visa proposes using StarkNet for automatic recurring payments

Visa said that StarkNet, a layer 2 blockchain built on top of Ethereum, may help bridge the gap between crypto and the real world by letting people who use self-custodial wallets pay their bills more easily. the authors of a Visa crypto proposal wrote. Visa implemented its proof of concept with crypto wallet Argent using the StarkNet scaling platform because account abstraction, which allows smart contracts to carry out transactions for a user, isn’t live yet on Ethereum. The proposal outlines a way for users to automatically send payments using the self-custodial wallet without having to sign each transaction.

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2022-12-19 22:14:00 Binance to acquire remaining 40% stake in Indonesian exchange Tokocrypto: Source

Binance is set to acquire the remaining 40% in Indonesian exchange Tokocrypto after first acquiring 60% in 2020, a source with direct knowledge of the matter told The Block. Tokocrypto today announced that Binance “will gradually increase its stake to nearly 100%.”. Tokocrypto today announced that Binance “will gradually increase its stake to nearly 100%,” building on its previous investment in 2020. Binance CEO Changpeng "CZ" Zhao tweeted that "Binance was the majority shareholder of Toko[crypto] from the beginning. Just injected more cash and increased our shareholding a bit.". Binance's investment in Tokocrypto gave it a majority or controlling stake.

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2022-12-18 21:52:01 Israeli court approves seizure of all cryptocurrency in terrorism-linked wallets

Israeli Defense Minister Benny Gantz revealed on Sunday that the Tel Aviv Magistrate’s Court last week issued a ruling approving the government’s seizure of any and all cryptocurrency assets from digital wallets that have funded terrorism. Israeli authorities had previously been allowed to seize only those digital assets used to directly finance terrorist activity, but not additional funds in the same wallets. Since the court ruling, Israel has seized $33,500 from digital wallets that last year funneled cryptocurrency to Hamas, Gantz’s office said. Authorities in Dec. 2021 confiscated some $750,000 in cryptocurrency from those wallets.

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2022-12-17 19:14:02 EVs and crypto mining seen as emerging risks for US power reliability

The adoption of electric vehicles and the rise of cryptocurrency mining pose emerging challenges to U.S. power reliability in upcoming years, the North American Electric Reliability Corporation said on Thursday. More EVs, spurred by government policies such as the U.S. Inflation Reduction Act, and energy-intensive mining of bitcoin will add demand on the nation’s fragile electrical grid while power plant closures outpace the replacement of new capacity and severe weather intensifies, NERC said in its long-term reliability assessment.

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2022-12-16 21:41:00 First Hong Kong bitcoin, ether ETFs lure nearly $75 million with trading set to begin Friday

CSOP Asset Management, a China Southern Asset Management subsidiary, will list the first bitcoin and ether ETFs on the Hong Kong Stock Exchange on Friday. The two funds attracted over $74 million in investment, with most going into the bitcoin fund. CSOP Bitcoin Futures ETF and CSOP Ether Futures ETF will track CME's bitcoin and ether futures, the company said. The CSOP bitcoin and ether ETFs have received more than $74 million in initial investments — $54 million and $20 million, respectively — shaking off the slump in cryptocurrency prices and the fallout from high-profile collapses of FTX and others. The approval of the ETFs is an "important milestone" for digital assets in Asia.

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2022-12-15 18:31:33 Chainalysis data reveals FTX collapse caused $9B in realized losses

FTX’s collapse resulted in around $9 billion in realized losses for crypto investors, according to a Chainalysis report. Chainalysis noted that this loss paled compared to Terra’s UST depeg, which caused a loss of $20.5 billion. According to Chainalysis, weekly realized loss and gain are calculated based on the value of assets in a wallet at the time they were acquired minus the value of the portion of the assets transferred from the wallet at the time of recording the data. While the transfer of assets from a wallet does not necessarily imply a sale, it gives an insight into how those events affected investors.

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2022-12-14 18:31:11 Binance resumes USDC stablecoin withdrawals after temporary pause

Binance has resumed processing withdrawal requests of the USD Coin (USDC) stablecoin after pausing them for several hours. Binance, the world's largest cryptocurrency exchange platform by daily volume, temporarily stopped processing USDC withdrawals. Binance holds a large majority of its stablecoin holdings, more than $11.5 billion in Paxos-issued BUSD, according to Nansen data. To increase its USDC reserves, it made efforts to swap its BUSD holdings with USDC. This hindered the exchange's ability to process these transactions, so the exchange temporarily paused USDC withdrawals while it conducted a token swap.

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2022-12-12 18:31:01 GBTC Discount Nears 50%, Crypto Investors Worry About Another Sell-Off

The Grayscale Bitcoin Trust (GBTC) is selling at a 48.62% discount, worrying investors and analysts. They believe a sell-off could be imminent as DCG also faces financial issues. Analysts and investors believe that this could trigger a selloff. The crypto community is seeing its anxiety stoked as Grayscale’s GBTC is nearly at a 50% discount. As of Dec. 9, its GBTC discount or premium to NAV is at 48.62%. The GBTC shares are trading at $8.03. One of the primary reasons for its concern is the fact that sister company Genesis halted withdrawals following the collapse of FTX.
GBTC Discount Nears 50%, Crypto Investors Worry About Another Sell-Off

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2022-12-11 19:25:00 European Union Limits Cash Purchases and Increases Scrutiny on Crypto Transactions

The European Union has decided to limit cash purchases to €10,000 and ensure more scrutiny on crypto transactions above €1,000. Members of the bloc announced this on December 7, stating that it was part of efforts to prevent money laundering. Czech minister for Finance Zbyněk Stanjura said their “intention is to close these loopholes further and to apply even stricter rules in all EU member states. Large cash payments beyond €10.000 will become impossible. Trying to stay anonymous when buying or selling crypto-assets will become much more difficult.”. risk of money laundering in each member country.

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2022-12-10 18:31:02 Argo Blockchain accidentally reveals plans for bankruptcy

Argo Blockchain, a crypto mining company, has reportedly accidentally revealed a petition for bankruptcy. This news was reported by Will Foxley, the Content Director at Compass Mining, who shared a screenshot of the special announcement from Argo Blockchain. The announcement suggests Argo may be preparing to file for bankruptcy, per the screenshot of a document released by Foxley. Additionally, on Dec. 9, it was reported that Argo’s shares had been temporarily suspended by the UK’s Financial Conduct Authority (FCA) after the company disclosed a decline in revenue for November.

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