crypto / 62 posts found
Solana Pay Joins Shopify as New Payment Method
Shopify will now be integrating Solana Pay as its newest Web3-native payment solution that will allow merchants to have real-time access to their money while enhancing their digital storefront’s capital, liquidity, and liability protection – with no middleman or intermediary involved. Solana Pay is the brainchild of the San Francisco-based tech company Solana Labs that is built on its decentralized Solana network. Known for its high transaction speeds (no waiting for clearinghouses), near-zero fees, and sustainability, Solana Pay has become an industry-preferred tool for helping companies like Shopify scale their businesses to integrate Web3-native payment solutions to provide a better […]
Friend.tech: Genuine Game-Changer or Just Another Passing Trend?
Head over to X, formerly Twitter, and the first post you see will likely be about Friend.tech, the latest gamified social media offering, backed by Coinbase and Paradigm. The opinions and commentary on the app are vast in their approach, with some touting the app as a paradigm shift, others uncertain if they should join, and others still, calling it out as the next BitClout that is doomed to fail. Given the app’s early stage, each of these perspectives carries weight and may reflect the true trajectory of the latest craze. Paradigm Shift or Doomed to Fail? With hype for […]
$8 Million in Crypto & NFTs Mysteriously Burned
Burn, baby! Burn! This week, an unknown crypto user by the name of “nd4.eth” has garnered attention after “burning” or destroying approximately $8 million worth of cryptocurrency and high-valued blue-chip NFTs – with no explanation – leaving the crypto and NFT communities baffled and deeply curious. Unraveling the Mystery of the Spiritual Ethereum Burn! Mystery Wallet nd4.eth aka 0xEfbBc3fa829aF506Bc7AfE1a0C31B3c7419456F7 has ignited the crypto world with a shocking act – burning a staggering 4.6 million dollars worth of #Ethereum! But why? Let's dig deeper into… pic.twitter.com/YUPBKkZeHu — captainteemo (@teemojoshi) August 7, 2023 The anonymous trader destroyed $3.3 million worth of the […]
Decentralized Social Media App ‘Friend.Tech’ Gains Momentum
Decentralized social media app Friend.Tech is making headlines after it conducted a reported 100,000 transactions in volume in a single day – believing to have even eclipsed OpenSea. What is Friend.Tech? One of the hottest apps on Base, Friend.Tech, tokenizes crypto personalities by allowing users to buy and sell “shares” of people, which fluctuates according to supply and demand. Ownership of these “shares” then grants a user access to a private chat with that person It served as one of the first players who ventured into decentralized social media, while seemingly gaining significant traction prior to it devolving, thanks to […]
FBI Issues Warning on Crypto Scammers Posing as NFT Developers
The U.S. Federal Bureau of Investigation (FBI) has raised alarms about cybercriminals impersonating legitimate NFT developers, according to a recent advisory. Their aim? To deceitfully extract cryptocurrency and other digital assets from unsuspecting individuals. These cyber crooks employ a two-pronged approach – Some directly infiltrate the social media accounts of genuine NFT developers, while others craft counterfeit accounts that closely resemble the real ones. Once they’ve established these platforms, they announce “exclusive” NFT releases, often accompanied by aggressive advertising campaigns designed to create a sense of urgency. “Links provided in these announcements are phishing links directing victims to a spoofed […]
Understanding SIM Swap Attacks and How to Safeguard Yourself
In a proactive move to safeguard consumers from emerging digital threats, the U.S. Federal Communications Commission (FCC) has proposed new regulations aimed at curbing the rise of “SIM swap” and “port-out scams.” These malicious activities have been on the rise, with fraudsters exploiting vulnerabilities in mobile communication systems to gain unauthorized access to victims’ personal and financial information. What is a “SIM Swap” attack? SIM swapping occurs when scammers or a bad faith actor happens to get their hands on either your phone number or your phone’s SIM card, allowing them to access your accounts or “reroute” that now stolen […]
U.S. Paves the Way for Crypto Regulation with New Legislative Proposal
In a move signaling a more structured approach to the burgeoning crypto industry, U.S. House Republicans unveiled a fresh legislative proposal on Thursday that establishes swimlanes between the Commodity Futures Trading Commission and the U.S. Securities and Exchange Commission (SEC). At 212 pages, the “Financial Innovation and Technology for the 21st Century Act” is designed to provide a clear regulatory landscape for digital assets, introducing fresh definitions, highlighting digital asset exemptions, and charts a course for intermediaries in the digital asset space (e.g., crypto exchanges) to go about registering with the CFTC and SEC. To that effect, the new bill […]
For Kuwait, It’s a Hard “No” On Most Crypto Assets
The State of Kuwait has taken a firm, definitive stance in the global debate surrounding the legitimacy and regulation of digital assets such as cryptocurrency. The nation’s primary financial regulator, the Capital Markets Authority (CMA), has announced a comprehensive ban on most crypto operations within its borders. The announcement, made on July 18, indicates that Kuwait is joining a growing list of countries that are exercising caution in the face of the rapidly evolving digital currency landscape. The CMA’s directive explicitly prohibits a wide range of activities, including cryptocurrency payments, investments, and the energy-intensive process of mining. “Driven by speculation” […]
RFK Jr. Wants to (Cautiously) Save the U.S. Dollar By Using Bitcoin
In a recent policy announcement, Robert F. Kennedy Jr. (RFK Jr.), a U.S. presidential candidate, outlined a bold vision for the role of Bitcoin and other tangible assets in strengthening the U.S. dollar. The proposal, which includes exempting Bitcoin profits from capital gains tax, has garnered significant attention from the crypto community and financial analysts. Addressing attendees at the Heal-the-Divide PAC event on Tuesday, Kennedy detailed his administration’s plan to back the U.S. dollar with tangible assets, including gold, silver, platinum, and, notably, Bitcoin. This initiative aims to fortify the U.S. dollar’s position as a dominant world reserve currency. Kennedy, […]
VC Funding for Crypto Continues to Slide, Has Yet to Bottom Out
Venture capital (VC) investment in the cryptocurrency and blockchain sector is on a downward trajectory, according to a recent report by Galaxy Research. The second quarter of 2023 saw crypto and blockchain firms receiving $2.3 billion from VC firms, a significant drop from the same period last year when more than $8 billion was invested. Looking back further to the COVID-19 pandemic, the crypto industry experienced a monumental surge in venture capital, with a record $13 billion invested in Q1 2022. The current challenging business environment coupled with rising interest rates has led to a reduction in deal flow, according […]