Author: News Room
Polygon’s zero-knowledge Ethereum Virtual Machine (zkEVM) encountered significant downtime lasting over 12 hours. Indeed, several crypto stakeholders raised concerns about the network’s inability to produce blocks for several hours. This outage prompted comparisons with Solana, raising questions about the Polygon’s reliability and scalability. Polygon (MATIC) Goes Offline Polygon attributed the downtime to a glitch in the protocol sequencer triggered by a Layer 1 reorganization. In Layer 2 networks, a sequencer ensures transaction verification, organization, and compression before transmitting them to Layer 1 chains like Ethereum. The team assured users that efforts were underway to resolve the issue, promising a detailed…
A new set of anti-money laundering laws passed by the EU has banned crypto asset service providers from servicing and providing custody to anonymous cryptocurrency accounts. The approved proposal for the “prevention of the use of the financial system for the purposes of money laundering or terrorist financing” alleges these assets present “risks of misuse […] Read the full article here
[PRESS RELEASE – Bankstown, Australia, March 23rd, 2024] DeFi project develops a globally-supported debit card for daily purchases and financial transactions. DeFi offers anonymity and worldwide accessibility but falls short in user experience and broader application in daily life. Xuirin Finance introduces a DeFi debit card to connect decentralized finance with everyday spending habits. Decentralized finance (DeFi) exists somewhat outside the regular financial system’s embrace. Its potential for innovation is frequently obscured by its complexity, making it an area primarily for those deeply involved in the crypto space. The divide between sophisticated DeFi platforms and the general public’s understanding of…
In anticipation of the fourth Bitcoin halving scheduled for mid-April, Coinbase Institutional has released a primer for investors. The Bitcoin halving, occurring every four years or upon mining every 210,000 blocks, will see miner rewards halve from 6.25 to 3.125 bitcoin per block upon reaching the 840,000 block. The document aims to guide institutional investors by examining the impact of previous halvings and incorporating the recent developments in the cryptocurrency market, such as the introduction of Bitcoin ETFs and Bitcoin’s ascent to unprecedented heights before the halving. Historically, Bitcoin has experienced significant valuation increases in the months following past halvings.…
Japanese telecoms companies are moving into the web3 space, with a subsidiary of the communications giant NTT set to launch a crypto wallet. Per the Japanese media outlet Project Design Online, NTT Digital will launch its wallet “by the end of 2024.” The company has partnered on the project with the US-based now.gg platform. The wallet is intended for corporate use, and will be named the Scramberry Wallet for Business. Japanese Telecoms Companies Eye B2B Crypto Market Nippon Telegraph and Telephone (NTT) is Japan’s biggest telecoms provider. Its NTT Digital arm is dedicated to web3 and blockchain technology. The firm…
James Murphy, a legal expert at Ludlow Street Advisors, has taken to X (formerly Twitter) to reveal that the New York State Department of Financial Services has extended its deadline to rule on his administrative appeal of the department’s refusal to produce any documents that pertain to the exclusion of the XRP token from the “greenlist.” Murphy is baffled by the NYDFS’s decision to delist XRP after the court determined that its secondary sales did not constitute a security offering. At the same time, Ethereum has managed to retain its spot on the department’s greenlist despite its regulatory troubles. Hence,…
The U.S. Securities and Exchange Commission postponed a decision on whether to approve Grayscale Ethereum Futures Trust’s Ethereum ETF application, the agency said in a document filed on Friday. Its new deadline is May 30. The Securities Exchange Act of 1934 gives the agency has 180 days or six months from when notice of the proposed rule change is published. The Grayscale application was first filed in September, and the agency deferred making a decision in November. “The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed…
After a notable surge, Ripple’s price has successfully broken above the upper trendline of a multi-month triangle pattern, indicating a bullish signal. However, the recent retracement suggests a potential pullback to the broken level. By Shayan The Daily Chart A detailed analysis of the daily chart highlights Ripple’s surge as it surpassed a crucial resistance area represented by the dynamic upper boundary of the triangle pattern, reaching a significant resistance level at $0.74. This breakout underscores the presence of buyers in the market. However, the price encountered a notable rejection near the $0.74 resistance, leading to a consolidation correction stage…
The United Nations General Assembly adopted a global artificial intelligence (AI) resolution on March 21. The new resolution aims to promote “safe, secure, and trustworthy” AI development. The Assembly said it is paramount that AI is developed in a sustainable manner that does not threaten human rights. The AI Resolution The UNGA has requested member states and stakeholders to refrain from deploying AI in manners inconsistent with international human rights laws. It also acknowledged the varying technological advancements across countries and called for efforts to bridge this development gap. Sections of the eight-page document call for raising awareness, strengthening investments,…
In a recent article for Bloomberg News, Olga Kharif reports a promising turnaround in the crypto job market. Kharif points out that after a prolonged downturn, companies like Coinbase, Kraken, Binance, and even traditional finance giants like Fidelity are actively hiring. This resurgence, she believes, is fueled by Bitcoin’s rally and renewed retail investor interest in the market. Kraken’s Chief People Officer told Bloomberg: “Kraken has successfully navigated several bull and bear markets while remaining prepared to scale around true inflection moments. The recent surge in crypto markets reinforces our existing thesis that 2024 is the right time to grow…