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Access real-time blockchain and cryptocurrency news updates from around the globe.
How Self-Sovereign Identity helps users own their data
SHIB’s lead developer Shytoshi Kusama recently unveiled plans to integrate Self-Sovereign Identity into Shiba Inu projects.
Bank of England will get more power in regulating stablecoins
The United Kingdom government could rebalance the power between the Bank of England and the country’s principal financial regulator, the Financial Conduct Authority.
Brazilian CBDC gets official name and logo
Previously commonly referred to as “digital real”, Brazilian central bank digital currency gets its official brand name.
Binance sold USDC for BTC & ETH after Silvergate bank collapse: PoR report
Binance’s depleting USDC reserves has become a hot topic in the crypto ecosystem, especially after Coinbase CEO’s quip during the company’s Q2 earning call.
Binance sold USDC for BTC & ETH after Silvergate bank collapse: PoR report
Binance’s depleting USDC reserves has become a hot topic in the crypto ecosystem, especially after Coinbase CEO’s quip during the company’s Q2 earning call.
Bitcoin bears 'in control but exhausted' as BTC price retakes $29K
Bitcoin stages a recovery toward key resistance but fails to break through, but BTC price action is giving some cause for optimism.
Bitstamp crypto exchange to raise funds for global expansion: Report
One of the world’s oldest cryptocurrency exchanges, Bitstamp, is trying to scale its operations with new fundraising advised by Galaxy.
PayPal stablecoin launch sparks wave of fake PYUSD tokens
Less than 16 hours have passed since the launch of PayPal’s new stablecoin (PYUSD), and opportunists, degens and potential scammers are already attempting to cash in on the hype with their own copycat tokens.
According to data from decentralized exchange scanner DexScreener, nearly 30 new token pairs sporting the ticker “PYUSD” have cropped up in the 16 hours since the announcement.
The look-alike tokens have been minted on a variety of different chains including Binance Smart Chain, Ethereum and Coinbases’ newest layer 2 Base.
It’s important to note that the real PayPal USD token was created in November last year, and can be verified at the following contract address.
PayPal explicitly stated that PayPal USD could only be sent between verified PayPal and other compatible wallets, making it extremely unlikely that any of the tokens listed with the same ticker on UniSwap or any other decentralized exchange are the real thing.
PayPal stablecoin launch sparks wave of fake PYUSD tokens
Nearly 30 fake PYUSD tokens cropped up in the wake of PayPal’s most recent announcement.
Paypal USD: Boon for Ethereum but not decentralization, says community
Proponents say PayPal’s PYUSD could see Ethereum become the money layer of the internet, while opponents argue that it’ll act like a poorly designed CBDC.
Paypal USD: Boon for Ethereum but not decentralization, says community
Paypal’s new Ethereum-based stablecoin, PYUSD has been seen as bittersweet news for the crypto community.
While it could finally see Ethereum find its place in mainstream adoption, it could also spell trouble for decentralization and personal control of assets, warns the community.
The new stablecoin, Paypal USD, was launched on Aug. 7 and is issued by Paxos Trust Co. — the firm behind Binance USD (BUSD). It’s built on Ethereum and “designed for digital payments and Web3,” with the firm saying it will soon be available to United States customers.
The launch has been seen as a boon for Ethereum adoption. Ethereum bulls Anthony Sassano and Ryan Sean Adams believe the ERC-20 stablecoin will push the blockchain closer towards becoming the money layer of the internet.
The number of daily active users on Ethereum currently hovers between 300,000-400,000, according to Etherscan.
Blockchain.com scores payment license from Singapore central bank
The crypto exchange is the 12th to receive a crypto-dealing license in the country allowing it to service accredited investors and institutions.
Cypher Protocol freezes smart contract after an estimated $1M exploit
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Solana-based decentralized futures exchange Cypher Protocol halted its smart contract after an estimated $1 million exploit.
On Aug. 7, Cypher alerted its 13,500 followers on X (formerly known as Twitter) that it had experienced a security incident and had thus frozen its smart contract.
The team added it is investigating the cause of the exploit and has reached out to the hacker to negotiate a potential return of stolen funds.
China’s risky Bitcoin court decision, is Huobi in trouble or not? Asia Express
Man loses $10M after Chinese court rules Bitcoin lending is not protected by law, loads of Web3 founders get arrested, and Huobi rumors swirl.
China’s risky Bitcoin court decision, is Huobi in trouble or not? Asia Express
Our weekly roundup of news from East Asia curates the industry’s most important developments.
Chinese man’s $10M loss as court says Bitcoin lending not protected by law
A man in China’s Jiangsu province, identified as Mr. Xu, appears to be out of luck after a court ruled that his 341 Bitcoin loan ($9.9 million) to counterparty Mr. Lin is not protected by law according to local news reports on August 3.
Some time ago, Mr. Xu lent 341 Bitcoins to Mr. Lin after the latter approached him for a peer-to-peer loan. At the time, Mr. Xu lacked fiat funds, and so the parties settled on using Bitcoin for the borrowing through a written agreement. Shortly afterward, however, Mr. Lin defaulted on the loan, prompting Mr. Xu to sue in the Changzhou Zhonglou People’s Court. The case was dismissed.
Chinese magistrate Ming Wang explains why the Bitcoin lending contract was invalid and therefore denied relief for breach of contract. (Screenshot)In supporting the judgment, Ming Wang, vice-magistrate of the Changzhou Zhonglou People’s Court, told reporters that Bitcoin is a digital commodity that does not hold the same legal status as fiat currencies. Therefore, the asset can neither be subject to a legal enforcement action, enter circulation, or be used to ” award compensation.”
“The lender bears ALL risks [when lending crypto],” Wang warned. That said, in another ruling dated Nov. 29, the Hangzhou Internet Court wrote that digital assets such as nonfungible tokens are “online virtual property” that should be protected under Chinese law.
China’s risky Bitcoin court decision, is Huobi in trouble or not? Asia Express
Our weekly roundup of news from East Asia curates the industry’s most important developments.
Chinese man’s $10M loss as court says Bitcoin lending not protected by law
A man in China’s Jiangsu province, identified as Mr. Xu, appears to be out of luck after a court ruled that his 341 Bitcoin loan ($9.9 million) to counterparty Mr. Lin is not protected by law according to local news reports on August 3.
Some time ago, Mr. Xu lent 341 Bitcoins to Mr. Lin after the latter approached him for a peer-to-peer loan. At the time, Mr. Xu lacked fiat funds, and so the parties settled on using Bitcoin for the borrowing through a written agreement. Shortly afterward, however, Mr. Lin defaulted on the loan, prompting Mr. Xu to sue in the Changzhou Zhonglou People’s Court. The case was dismissed.
Chinese magistrate Ming Wang explains why the Bitcoin lending contract was invalid and therefore denied relief for breach of contract. (Screenshot)In supporting the judgment, Ming Wang, vice-magistrate of the Changzhou Zhonglou People’s Court, told reporters that Bitcoin is a digital commodity that does not hold the same legal status as fiat currencies. Therefore, the asset can neither be subject to a legal enforcement action, enter circulation, or be used to ” award compensation.”
“The lender bears ALL risks [when lending crypto],” Wang warned. That said, in another ruling dated Nov. 29, the Hangzhou Internet Court wrote that digital assets such as nonfungible tokens are “online virtual property” that should be protected under Chinese law.
China’s risky Bitcoin court decision, is Huobi in trouble or not? Asia Express
Man loses $10M after Chinese court rules Bitcoin lending is not protected by law, loads of Web3 founders get arrested, and Huobi rumors swirl.
China’s risky Bitcoin court decision, is Huobi in trouble or not? Asia Express
Man loses $10M after Chinese court rules Bitcoin lending is not protected by law, loads of Web3 founders get arrested, and Huobi rumors swirl.
China’s risky Bitcoin court decision, is Huobi in trouble or not? Asia Express
Man loses $10M after Chinese court rules Bitcoin lending is not protected by law, loads of Web3 founders get arrested, and Huobi rumors swirl.