Backed, a Zurich-based company, has announced its integration of the BNB Smart Chain (BSC) into its token issuance framework. This framework enables the tokenization of off-chain assets such as treasury-based ETFs and stocks, and is compliant with Swiss blockchain regulations. The BNB Chain offers a large and active smart contract user base, reduced transaction fees, […]
Blur, the NFT market’s new darling, has seen its native token, BLUR, fail to capture the bulls’ imagination. The token has dropped 85% from its record high of $1.40 in February 2023, and may decline further in the year due to a slew of negative catalysts. These include an increase in BLUR token transfers to […]
Bitcoin’s mining difficulty has reached a new peak as the cryptocurrency hovers around the $26,000 price level. According to the latest edition of the weekly report from crypto exchange Bitfinex, the mining difficulty hit an all-time high of 55.62 trillion hashes.The mining difficulty is a metric representing the challenge of validating a new block. High […]
Bitcoin (BTC) is currently trading around $26,060, offering investors a rare chance to buy at a support zone with a “100% long hit rate,” according to crypto asset manager Capriole Investments. The firm suggests watching for a BTC price dip to $24,000.Capriole’s founder Charles Edwards is “very confident” in the $23,000 BTC price support. This […]
Canaan Inc. (NASDAQ: CAN), one of the leading Bitcoin mining companies, has reported its unaudited financial results for Q2, 2023. The company saw its total revenue rise to $73.9 million, a 33.7% increase compared to Q1, 2023. Revenue from BTC mining also jumped 43.3% quarter-on-quarter, from $11.1 million to $15.9 million.Canaan CEO Nangeng Zhang commented […]
Canaan, a Bitcoin (BTC) miner, reported a loss in its second-quarter financial report despite increasing mining revenue and computing power. The miner generated a total revenue of $73.9 million, while its “cost of revenues” were $143.9 million, resulting in a gross loss of $70.1 million. The firm had recorded a gross loss of $47.5 million […]
The Hedera blockchain network is a decentralized, open-source public ledger that is revolutionizing the blockchain industry. It utilizes the hashgraph consensus algorithm to solve key issues facing blockchain users, such as speedy transactions and low fees. Hedera is capable of processing up to 10,000 Transactions Per Second (TPS) and has seen adoption rise, with more […]
Binance, the world’s largest cryptocurrency exchange, has removed Banco de Venezuela (BDV) from its list of accepted P2P trading payment methods. This exclusion has caused a stir among Venezuelan digital currency enthusiasts, as BDV is the country’s largest bank, with total assets of 73,222.2 million bolivars, or $4,186.5 million, and a 56.1% market share.Currently, only […]
CoinSwitch, a crypto exchange based in India, has recently cut its workforce due to the prolonged cryptocurrency winter. The exchange has laid off 44 employees from its customer support division in August, citing redundancy in roles amid the lack of customer queries. CoinSwitch stated that this decision was made to stay competitive and prioritize innovation, […]
Ripple Labs has been actively expanding its presence in Canada, collaborating with the University of Toronto and the University of Waterloo. The University of Waterloo has been researching Central Bank Digital Currencies (CBDCs) built upon the XRPL, and is set to unveil a prototype of a banking interface at UBRI Connect 2023. Ripple Labs has […]
