Coinbase has announced plans to increase the storage of corporate and customer USDC balances on Base, an Ethereum Layer 2 solution incubated by the exchange and built on the open-source OP Stack. The move is expected to provide benefits such as lower fees, faster settlement times, and enhanced security for managing customer funds. Max Branzburg,...
Layer 1 blockchain Sui announced a partnership and collaboration with the banking service provider Revolut. According to the press release shared with Cryptonews, the partnership aims to bolster awareness and adoption of blockchain technology among Revolut’s user base of 40 million customers globally. It also wants to open “new avenues for Sui’s growth, particularly across...
Asian stocks ended mixed in a holiday-shortened week on Wednesday, with Chinese and Hong Kong markets leading regional losses on growth worries while Japanese stocks rallied on yen weakness amid dovish BOJ talk. The dollar held steady as investors awaited more signals from U.S. inflation data and Fed Chair Jerome Powell\'s speech due later in...
The United Arab Emirates (UAE) is now readying a central bank digital currency (CBDC) for retail and wholesale use, according to a Central Bank of UAE (CBUAE) announcement on Saturday. The national bank kicked off its digital dirham implementation strategy during a signing event on March 23 with R3 and G42 Cloud, companies that will...
Suspected South Korean crypto fraudsters allegedly fooled a wealthy financier into parting with over $4.1 million, the nation’s police force said on March 25. Per Chosun Ilbo, officers in Busan’s Haeundae District arrested a “group of people in their 20s and 30s.” Police think the group “defrauded a financier in his 60s” by convincing him...
Russian crypto industry chiefs have teamed up with business leaders to create a draft bill that could legalize the nation’s booming mining sector. According to ComNews, Alexander Brazhnikov, the Executive Director of the Russian Association of Cryptocurrency and Blockchain (RACIB), spoke about the bill at a crypto-related event on March 22. Russian Crypto Industry: Time...
The US Treasury’s Office of Foreign Assets Control (OFAC) on Monday sanctioned 13 entities and two individuals. They are accused of developing crypto-related services that could facilitate sanctions evasion on behalf of Russian nationals. OFAC’s designations aim to curb Russia’s use of the global financial system in its conflict with Ukraine. Brian Nelson, Under Secretary...
Turkey’s Misyon Bank has announced its partnership with Swiss firm Taurus to leverage its digital asset custody and tokenization technology. The neobank, established just a year ago, aims to position Turkey as a regional center of excellence for custody services and tokenization, according to a report from local media outlet BThaber. Taurus is a renowned player...
The Haeundae Police Station in Busan, South Korea, has caught a pair of fraudsters who stole $4.1 million from a senior citizen with the promise of profitable crypto investments. “If you invest in virtual currency, you will see a 70% return in 4 weeks,” said the two individuals in their 20s and 30s who deceived...
LootRush, a blockchain start-up backed by venture capital firms Paradigm and Andreessen Horowitz (a16z) is announcing a new gaming subscription which allows its users to access non-fungible tokens (NFTs) from over 500 games on its platform from today. San Francisco-based LootRush was launched in May 2022 and is a crypto gaming platform that allows users...