Author: Sollcrypto
Yat Siu, the co-founder and executive chairman of Animoca Brands, recognizes the immense potential of personalized Web3-based services, as his company allocates $30 million for the neobank platform called “hi.” Siu’s investment firm plans to support the Web3 app, which brings together a cryptocurrency exchange, digital banking services, and a unique nonfungible token (NFT)-styled crypto debit card option as part of its expanding ecosystem. In an exclusive conversation with Cointelegraph, Siu expressed that hi’s vision for its NFT debit card aligns perfectly with his perspective on the intersection of culture and Web3. The flagship crypto-friendly Mastercard debit card offered by…
Grayscale, a crypto fund manager, is urging the Securities and Exchange Commission (SEC) to approve all proposed spot Bitcoin exchange-traded funds (ETFs) simultaneously. The company’s Chief Legal Officer, Craig Salm, posted on July 27, stating that Grayscale’s legal team has submitted a letter concerning eight spot Bitcoin ETF filings, including their own. The argument put forth is that the SEC should avoid favoring certain ETFs over others, aiming for a fair and orderly decision-making process. The letter highlighted the possibility of approving the spot ETFs based on the SEC’s previous approvals for Bitcoin futures ETFs, asserting that the two types…
Binance NFT Introduces AI-Driven NFT Generator, Enabling Users to Create Custom Artworks Binance’s nonfungible token (NFT) division has revealed the launch of its innovative AI-powered NFT generator, allowing users to craft personalized artworks using advanced artificial intelligence technology. Named “Bixel,” the AI NFT generator has become a permanent feature available to all Binance NFT users. By utilizing this tool, users can delve into the world of NFTs and produce distinct digital art pieces. However, to access the generator, individuals must undergo Binance’s know your customer (KYC) identity verification process. This step is vital to maintaining a secure and reliable platform…
KuCoin Dismisses Layoff Rumors, Emphasizes Ongoing Business Expansion KuCoin, the cryptocurrency exchange, has firmly denied speculations regarding an imminent layoff of approximately 300 employees, amounting to 30% of its workforce. A spokesperson from KuCoin clarified that the company has not initiated any layoff plans and asserted that any potential personnel adjustments are a routine part of the firm’s business development strategy. The spokesperson explained that such adjustments are conducted during the semi-annual employee performance review process, which is a common practice in organizational development. KuCoin’s CEO, Johnny Lyu, reaffirmed the exchange’s smooth operation and addressed the possibility of staff reductions,…
“Awake After 11 Years: Dormant Bitcoin Wallet Transfers Over $30M in 1,037 BTC” A long-dormant Bitcoin (BTC) wallet, holding an impressive stash of 1,037 Bitcoins valued at around $31 million in today’s prices, has suddenly sprung to life and executed a complete transfer of its holdings. The significant transaction occurred during a Bitcoin price of $29,956 and was recorded at block height 799701, taking place around 10:51 am UTC on July 22, as reported by BitInfoCharts. The address containing the 1,037 BTC had acquired these coins on April 11, 2012, when the value of Bitcoin was a mere $4.92, as…
The recent crackdown by the United States Securities and Exchange Commission (SEC) has had a severe impact on Binance’s operations. The crypto exchange reportedly terminated over 1,000 employees and reduced certain benefits in response to the challenging market environment and regulatory climate, which led to declining profits. Binance has expressed the possibility of further cuts in various aspects of its business in light of these concerns. While facing 13 charges brought by the SEC and under investigation by the U.S. Justice Department, Binance remains the most popular centralized crypto exchange globally, holding assets worth over $63 billion. Despite the uncertain…
Payment protocol Ripple has recently applied for registration as a crypto asset firm with the United Kingdom’s Financial Conduct Authority (FCA), according to a spokesperson for the company who informed Cointelegraph. Additionally, the company is also pursuing a payments license in Ireland as part of its significant investment efforts in the region. This registration comes in the wake of Ripple’s partial victory against the United States Securities and Exchange Commission (SEC) regarding the classification of its XRP token. The decision, seen as favorable by both Ripple and the wider crypto community, determined that XRP should be considered a security when…
As the Litecoin halving approaches within a fortnight, traders are uncertain about whether the resulting increased scarcity will be sufficient to maintain LTC’s price above the $90 mark. The current price of Litecoin’s ticker, LTC, is $93.25, having experienced a 19% decline over the past 18 days. However, despite this recent drop, LTC has shown an overall positive performance of 31% for the year. A significant surge of 34% between June 29 and July 2 played a crucial role in driving the price to a 14-month high of $115. Nonetheless, an alarming statistic originating from the derivatives market suggests that…
Solana’s Reliability and Uptime Strengthen in 2023, With Just One Outage Recorded According to a report released by the Solana Foundation, the Layer-1 blockchain network Solana has demonstrated significant improvements in its reliability and uptime this year, experiencing only one outage in 2023. On July 20, the Solana Foundation unveiled its latest performance report, highlighting the network’s enhancements during the first half of 2023. The report’s metrics included uptime measurements and the ratio of non-voting-to-voting transactions. In the past, Solana faced challenges with reliability and uptime, leading Co-founder Anatoly Yakovenko to label them as a “curse.” However, he attributed the…
For the fourth consecutive quarter, Tesla has maintained a consistent approach towards its digital asset holdings, refraining from both selling or acquiring additional assets. The electric vehicle manufacturer’s Bitcoin holdings, amounting to $184 million, have remained unchanged, as indicated in the Q2 2023 earnings report released on July 19. Since Q2 of the previous year, Tesla has refrained from any Bitcoin transactions, after selling over 30,000 Bitcoin at that time. The sale amounted to approximately 75% of its total Bitcoin holdings and fetched $936 million. As of the latest report, the value of Tesla’s remaining Bitcoin holdings stands at $184…