For the average millennial or at least anyone that pays attention to the business world, the term “cryptocurrency” would not seem like such a strange word. If that is, then the terms Bitcoin, Ethereum or at least Blockchain should ring a bell. One might wonder, why are these terms suddenly so prevalent, especially cryptocurrency news? Computing is getting rather pervasive and the society is leaning towards digital services. The finance world too isn’t spared as the disruption of technology into this sector has fostered the birth and development of Fintech organizations.
These Fintech organizations look to digitize payments and transactions, offering the same services that are currently in existence but in a better, efficient and more effective way.
Blockchain is the network upon which most of these cryptocurrencies operate on. The history of blockchain and bitcoin, in particular, does not have a definite story. In 2009, an individual or group of individuals known to be “Satoshi Nakomoto” developed and published the technology to allow people make digital payments between themselves anonymously without having an external party to verify or authorize the transfer of the currency being exchanged.
Although technologies like this might seem rather complex, understanding how Blockchain works is quite easy, given that one has a basic idea of how networks work. Blockchain is simply a database shared between several users, containing confirmed and secured entries. It is a network, where each entry has a connection to its previous entry.
This technology affords a very secure model whereby every record in the database cannot be tampered with. Apart from the stellar security that this network offers, the transparency and speed at which the network operates give it an edge over the conventional way of conducting transactions.
In simple terms, cryptocurrencies are just monies in digital form, transacted via digital means and over a digital network. The transfer of these currencies is utilized with cryptography and the aforementioned blockchain network. Up until the 2010s, cryptocurrencies were not really known until Bitcoin made its breakout and this gave rise to the birth of new cryptocurrencies.
Cryptocurrencies have had their fair share of bullish and bearish trends, going to show how unstable they can be. The latest cryptocurrency news reports lots of people predicting prices for various cryptocurrencies in the years to come but no-one can say for sure.
Blockchain, on the other hand, is making its way into pervasive computing, especially IoT, giving way for the development of new solutions that embrace data security and transparency.
Individuals with compatible external wallets, as well as merchants who embrace PYUSD for payments, will be able to receive transfers from Venmo users.
In a bid to douse the fears of users about the safety of their funds, however, the platform has published a compensation plan.
The price of Bitcoin is still above $27k as investors and stakeholders await monetary policy announcements from regulators worldwide.
Grayscale’s decision to file for an Ether futures ETF comes on the heels of a significant legal victory against the US Securities and Exchange Commission (SEC).
More than the risks to its financial reserves, and all the news about withdrawals, there is yet another reason that currently ticks off investors about Huobi.
According to the DOJ, Russell defrauded at least 29 investors from the scheme of around $1.5 million.
The “Stand with Crypto” campaign will have a strategic focus on nine specific states in the United States: New Hampshire, Nevada, Ohio, Pennsylvania, Arizona, California, Georgia, Illinois, and Wisconsin.
The move comes shortly after the beleaguered crypto exchange FTX filed a lawsuit against the parents of its founder, Joseph Bankman and Barbara Fried, both distinguished professors at Stanford Law School.
A major part of SEC’s probe into Binance.US borders around Ceffu, even as the regulator seeks to affirm that the US exchange’s assets won’t be transferred overseas.
SBF’s parents are said to have received millions of dollars from FTX and used political donations amounting to over $100 million to cover up.
The SEC enforcement chief stated that the agency’s interest in crypto goes much beyond the high-profile cases with a number of DeFi businesses on its radar.
Circle emphasized that Circle Account and Circle APIs will exclusively facilitate the use of Polkadot USDC, natively issued within the Polkadot Asset Hub.
While all the predictions from influential figures and institutions mentioned in our article provide intriguing insights, it’s always crucial to approach them with caution.
The Hong Kong Securities and Futures Commission, in their statement regarding the arrest of the alledged fraudsters, pointed out that JPEX was not licensed and lacked the authority to host a cryptocurrency trading platform within the community.
Zodia Custody will now offer yield on digital assets to institutional clients in addition to providing its custody services.