Financial Giant State Street Launches Digital Finance Division – Unit’s Focus Aimed at Crypto and Defi

On Thursday, the Boston-based financial services and bank holding company State Street Corporation announced the launch of a division dedicated to cryptocurrencies, the digital economy, and decentralized finance (defi). State Street Invokes New Division Dedicated to Crypto, Blockchain, and Defi The financial services company State Street (NYSE: STT) offers a wide array of products like Investment management, securities lending, stock trading, and custodial banking services. In Q3 2020, data shows that State Street has around $3.15 trillion assets under management (AUM). On June 10, the company revealed it is stepping…

Read More

Nigerian Lawmakers Slam Naira Devaluation, Warn of Inflation Implications

Nigeria’s House of Representatives has moved a motion calling on the country’s central bank to end the continuing devaluation of the naira. In his unanimously adopted motion, House Representative Bamidele Salam warned the Central Bank of Nigeria (CBN) of the negative “implications of further devaluing the naira.” Lawmakers Slam CBN U-Turn The House’s warning follows the CBN’s recent decision to devalue naira from an exchange rate of 393 to the current one of just under 411 nairas for every dollar. Furthermore, the Nigerian lawmakers’ call for intervention comes just a…

Read More

Senator Warren Calls Out Bitcoin’s Energy Consumption — Bitcoiners Bite Back

U.S. Senator Elizabeth Warren criticized Bitcoin and cryptocurrencies yesterday in a Banking Senate Subcommittee hearing. In the hearing, Warren criticized the energy consumption that Bitcoin and other proof-of-work (PoW) cryptocurrencies need to operate. Warren also thinks cryptocurrencies are the “wild west” of investments and called for a regulatory crackdown on the industry. Some on social media were quick to bite back, however, pointing out Warren’s flawed logic and perceived hypocrisy. Senator Elizabeth Warren Takes on Bitcoin Senator Elizabeth Warren declared her opinion on bitcoin and other cryptocurrencies yesterday in a…

Read More

OVR Using Chainlink to Connect the Metaverse to Real World Data and Events

OVR.ai is announcing a live and ongoing integration with Chainlink, the marketing-leading decentralized oracle network that provides smart contracts with secure and reliable off-chain data and computation. The current integration involves the use of Chainlink Verifiable Randomness Function (VRF) to fairly and transparently select a special grant fund winner from the list of participants taking part in the upcoming OVRLand Treasure Hunt. Additionally, the OVR team plans to leverage Chainlink oracles throughout the platform to connect the physical world to OVRLand’s digital metaverse, enabling a virtual experience that’s impacted by…

Read More

Iran Seizes 3,000 Crypto Mining Devices in a Week

Authorities in Iran have confiscated 3,000 units of mining hardware in just one week as part of a push to curb illegal crypto mining amid power shortages and blackouts. In a single year, Iranian law enforcement has shut down over 180 crypto farms in Tehran Province alone. Over 500 Crypto Mining Rigs Confiscated in Tehran As the government’s offensive against unauthorized crypto mining intensifies, authorities have discovered and seized more than 3,000 pieces of mining equipment, Iran’s power utility announced Wednesday. Over 500 devices have been confiscated in Tehran Province,…

Read More

How Many People Mined BTC Alongside Satoshi? 2010 Data Shows Bitcoin’s Creator Wasn’t the Only Mining Whale

Throughout 2021, a great number of mysterious whale movements from miners who mined bitcoins in the early days have occurred. This week, 1,000 bitcoin from 2010 were transferred, and the miner has spent 11,000 bitcoin since last year. Old school whale movements like these have made some people assume that decade-old coinbase spends could stem from Satoshi Nakamoto. However, even though estimates say Nakamoto mined over a million bitcoin, many other network participants mined millions of coins as well. 2010 Saw CPU and GPU Mining, Alongside Extremely Low Hashrate and…

Read More

China Arrests 1,100 People Allegedly Using Cryptocurrency to Launder Criminal Proceeds

Chinese authorities have announced that more than 170 criminal gangs have been eliminated and over 1,100 suspects arrested in the latest round of crackdown on criminal groups providing cryptocurrency money laundering services for telecom fraudsters. Crackdown on Telecom Fraud Using Cryptocurrency for Money Laundering The Ministry of Public Security of the People’s Republic of China announced Wednesday that the fifth round of the “Broken Card” operation has been carried out. This has “Severely cracked down on illegal and criminal groups that provide virtual currency money laundering services for telecom fraud,”…

Read More

XCarnival Secures $2 Million Seed Investment

Synthetic assets open up several opportunities for investors by not confining them to a specific location. If the concept excites you, there’s good news from XCarnival. Recently, XCarnival announced it has secured a two-million US dollar seed investment in its quest to reinvent synthetic assets in crypto. This investment was led by top crypto funds including Fundamental Labs, Zonff Partners, SNZ, EVG, NGC, etc. At the same time, institutions like AU21, Incuba Alpha, DFG, WaterDrip, LD Capital, Gate, ChainCapital and Bitrise Capital. “We are very excited for the funding progress,…

Read More

El Salvador to Mine Bitcoin With Energy From Volcanoes: ‘100% Clean, 100% Renewable, 0 Emissions’

El Salvador has begun exploring bitcoin mining using energy from its volcanoes, President Nayib Bukele has revealed. “Our engineers just informed me that they dug a new well that will provide approximately 95MW of 100% clean, 0 emissions geothermal energy from our volcanos,” he detailed. Bitcoin Mining Using Volcanoes’ Energy El Salvador President Nayib Bukele announced on Twitter Wednesday: “I’ve just instructed the president of La Geo (our state-owned geothermal electric company) to put up a plan to offer facilities for bitcoin mining with very cheap, 100% clean, 100% renewable,…

Read More

Major Cryptocurrency Exchanges Explore Entering Indian Crypto Market

Several major global cryptocurrency exchanges are reportedly exploring ways to enter the Indian crypto market. “The Indian market is huge and it is only starting to grow, if there was more policy certainty by now Indian consumers would have been spoilt for choice in terms of exchanges because everyone wants to be here,” said an executive of a crypto firm. Major Crypto Exchanges Want to Enter India Global crypto exchanges are exploring ways to enter the Indian cryptocurrency market, Reuters reported. Four sources told the publication that U.S.-based Kraken, Hong…

Read More