Binance, the world’s top cryptocurrency exchange will equip 1000 African blockchain developers with tools and skills to build their first DApps on its Binance Smart Chain (BSC) network. This will happen in Q1 of 2021. The programme will start with a two-hour Binance Masterclass – Developers’ Edition on ‘Careers in Blockchain Technology’, where Changpeng Zhao … Read more
Circle, the company behind the second most popular stablecoin USD Coin, has rolled out a new API that will allow for the seamless transfer of USDC to USD via automated clearinghouse (ACH) systems. The first exchange to adopt the new API will be derivatives and futures specialist FTX, looking to speed up USD settlement processes … Read more
With the sheer scale and ability to map vast quantities of personalised data, Google, Amazon, Facebook and Apple (GAFA) have long had the potential to disrupt and dominate financial ecosystems. Now, with the relaunch of the Google Pay app, it looks like Big Tech’s competitive threat to both legacy banks and fintechs is about to … Read more
FinCEN has submitted for publication in the Federal Register an Extension Notice, which will extend the comment period on its Notice of Proposed Rulemaking (NPRM) regarding certain transactions involving virtual currency or digital assets. FinCEN, part of the US Department of Treasury, came under criticism… Read More The post FinCEN Extends Comment Period on Digital … Read more
San Francisco-based crypto exchange Coinbase has requested a rulemaking pause from the Financial Crimes Enforcement Network (FinCEN) following the Biden White House guidance to agencies. Coinbase writes in a letter that was reportedly shared with Kenneth Blanco, Director, FinCEN on January 25, 2021, that after… Read More The post Crypto Exchange Coinbase Requests Rulemaking Pause … Read more
The governor of the Bank of England, Andrew Bailey, believes that no existing cryptocurrencies will last. Talking about the design, governance, and arrangements of “a lasting digital currency,” the head of England’s central bank said, “I don’t think cryptocurrencies as originally formulated are it.” Bank of England Chief Andrew Bailey Doubts Any Existing Cryptocurrencies Will … Read more
Artificial intelligence (AI) technology company Ariel AI has been acquired by Snap. Ariel AI had been concentrating on a type of AI called computer vision, which is used to develop augmented reality (AR) functionalities, CNBC reported. Ariel AI had landed $1.1 million in investments before the Snap deal, CNBC reported, citing Crunchbase. Snap told the … Read more
Ark Investment Management CEO Cathie Wood said she doubts U.S. regulators will green-light a bitcoin exchange-traded fund before the original cryptocurrency’s market cap hits $2 trillion. “The flood of demand has to be satisfied so it’s going to have to get well over a trillion dollars – $2 trillion, I think, before the [U.S Securities … Read more
Today Bitcoin (BTC) price continued to face selling pressure in the $32,500 to $33,000 resistance cluster and this led to a mild 3% to 5% pull back from most altcoins. Despite the recent revelation that BlackRock, the world’s largest asset manager, has given the green light for two of its funds to invest in Bitcoin … Read more
It’s the debate the Federal Reserve isn’t ready to have yet: How to keep inflation from spiraling out of control once the economy opens back up. Considering the devastating toll from the coronavirus and the trillions of dollars of stimulus pumped into the financial system over the past year, top economists say the looming transition … Read more