Elon Musk-led company X (formerly Twitter) has successfully secured the necessary authorization to function as a payment hub in the United States. This follows Grayscale’s victory on August 29 over the US Securities and Exchange Commission and the social network’s January 2022 approval of the use of NFTs as profile images. X has obtained a […]
X, the popular social media platform, has been granted a currency transmitter license by Rhode Island regulators, marking a step forward for the company’s foray into the financial services sector. This license is legally required for companies conducting financial activities related to sending and receiving money, including both fiat and crypto assets.The approval will allow […]
CoinSwitch, an Indian cryptocurrency exchange backed by Andreessen Horowitz (a16z), has recently reduced its team by 7%, or 44 people. This decision was made due to the decreasing level of customer activity. A spokesperson of the platform explained that the team was right-sized to align with the present volume of customer queries.CoinDCX, another local digital […]
Tether, the issuer of the popular stablecoin USDT, has reportedly added Britannia Bank & Trust, a private bank based in The Bahamas, to its platform to process dollar transfers. It is unclear when the banking relationship between Tether and Britannia Bank began, but other reported banking partners include Deltec Bank and Capital Union Bank.The move […]
Binance, the world’s largest cryptocurrency exchange, has devised a strategy to retain its Belgian market following a suspension order by Belgium’s financial market regulator in June. The exchange has redirected all its Belgian users to its Polish branch, which is a registered virtual assets service provider (VASP) in the European Economic Area (EEA). Customers may […]
Binance, the world’s largest cryptocurrency exchange, held its first Community Meetup in Yerevan, Armenia. The event comes amid reports that the crypto giant is considering an exit from Russia due to regulatory pressures from the United States and Europe. Vladimir Smerkis, the General Manager and regional director of Binance in Russia and the CIS countries, […]
Circle, a fintech company, has announced a partnership with Mercado Libre to bring the USDC stablecoin to Mercado Pago on Aug. 29. Jeremy Allaire, Circle’s CEO, posted a thread on X announcing the launch of USDC on the retail giant’s online payment platform. USDC is a stablecoin, meaning it is pegged to the U.S. dollar. […]
Backed, a Zurich-based company, has announced its integration of the BNB Smart Chain (BSC) into its token issuance framework. This framework enables the tokenization of off-chain assets such as treasury-based ETFs and stocks, and is compliant with Swiss blockchain regulations. The BNB Chain offers a large and active smart contract user base, reduced transaction fees, […]
Canaan Inc. (NASDAQ: CAN), one of the leading Bitcoin mining companies, has reported its unaudited financial results for Q2, 2023. The company saw its total revenue rise to $73.9 million, a 33.7% increase compared to Q1, 2023. Revenue from BTC mining also jumped 43.3% quarter-on-quarter, from $11.1 million to $15.9 million.Canaan CEO Nangeng Zhang commented […]
Canaan, a Bitcoin (BTC) miner, reported a loss in its second-quarter financial report despite increasing mining revenue and computing power. The miner generated a total revenue of $73.9 million, while its “cost of revenues” were $143.9 million, resulting in a gross loss of $70.1 million. The firm had recorded a gross loss of $47.5 million […]
