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Ocean, which raised $6.2 million in a funding round led by Jack Dorsey, plans to enable miners to get block rewards directly from Bitcoin. Twitter (now X) co-founder and Bitcoin (BTC) advocate Jack Dorsey is backing a new BTC mining pool to help miners regain control of block rewards and transaction fees. Dorsey has led a $6.2 million seed round for Mummolin, the parent company of the new decentralization Bitcoin mining pool called Ocean, according to an announcement on Nov. 29. The seed funding will support the launch of Ocean, which is designed to decentralize and reshape the process of Bitcoin mining . The mining pool specifically aims to provide more mining process transparency and enable miners to receive block rewards directly from Bitcoin rather than from BTC mining pools. Luke Dashjr, Mummolin co-founder and long-time Bitcoin Core developer, believes that the role of mining pools must change for Bitcoin to exist as a truly decentralized currency. “Ocean is a new type of p...

BlackRock questioned the SEC's preference for the 1940 Act that oversees futures ETFs, and argued that it lacks relevancy to both crypto-spot and futures ETFs. BlackRock has argued that the U.S. Securities and Exchange Commission doesn't have any legitimate reason to treat spot-crypto and crypto-futures exchange-traded fund applications differently. BlackRock’s plan for a spot-Ether (ETH) ETF called the “iShares Ethereum Trust” was officially confirmed on Nov. 9, after Nasdaq submitted the 19b-4 application form to the SEC on the firm’s behalf. In its application, BlackRock called the SEC’s treatment of spot crypto ETFs into question, as it asserted that the agency bases its reasons for continually denying these applications on incorrect regulatory distinctions between futures and spot ETFs. “Given that the Commission has approved ETFs that offer exposure to ETH futures, which themselves are priced based on the underlying spot ETH market, the Sponsor believes that the Commiss...

Asset manager Hashdex recently met with the U.S. SEC to address the regulator’s concerns over its application for a spot Bitcoin ETF. Asset manager Hashdex recently held a meeting with the United States Securities and Exchange Commission to address the regulator’s concerns about its application to allow the Hashdex Bitcoin Futures exchange-traded fund (ETF) to hold spot Bitcoin, a source familiar with the matter told Cointelegraph.  As per a memorandum released by the Division of Trading Markets, the meeting took place on Oct. 13, with six SEC officials and representatives of Hashdex, NYSE Arca, Tidal Financial Group and law firm K&L Gates in attendance.  In the meeting, Hashdex presented its mechanism allowing spot Bitcoin (BTC) to be traded and held in the ETF on the Chicago Mercantile Exchange (CME), which the Commodity Futures Trading Commission regulates. Hashdex’s filing differs from other spot Bitcoin application s because it doesn’t have a surveillance-sharing agreement w...

SBF's counsel had argued that FTX was not located in the United States, and as SBF did follow regulatory obligations concerning FTX.US, charges related to FTX international shouldn’t apply. The United States Department of Justice filed a court motion on Oct. 4 claiming the lack of crypto regulations in the U.S. is no bar to the criminal charges filed against the former CEO Sam Bankman-Fried of now-bankrupt crypto exchange FTX. The U.S. DOJ’s letter was filed in response to the defendant's request for clarification and reconsideration of charges related to the misappropriation of funds in FTX. SBF’s counsel had argued that their client was “not guilty because FTX was not regulated in the United States and he followed the rules concerning FTX US.” The DOJ called this argument irrelevant claiming that even though the existence of legislation may be necessary to prove a legal obligation, however, the lack of it does not affect whether the defendant's victims committed mon...

SBI Remit will use XRP as a bridge currency to enable faster and more cost-effective remittances to several Southeast Asian countries. Japanese financial holding company SBI Group has announced that its international remittance services arm SBI Remit has partnered with Ripple and SBI Ripple Asia to offer an XRP (XRP) remittance service to bank accounts in several Southeast Asian countries.  In an announcement, the company highlighted that SBI Remit has been using Ripple payments services for international remittance s since 2017. Furthermore, SBI Remit also introduced solutions using crypto in 2021, claiming that it was the first in Japan to provide remittance services using XRP to crypto wallets in the Philippines. XRPを活用するRippleの送金ソリューションを用いた国際送金サービスをフィリピン・ベトナム・インドネシア向けに順次拡大 【XRPのブリッジ通貨利用】 スピーディかつ低コストで送金 拡張性あり(世界中のRipple提携先へ容易に送金可) ⇒国際送金事業における競争力強化https://t.co/2mwo33cn4q pic.twitter.com/vaOKwlC79y — SBI VC Trade (SBI VCトレード） (@sbivc_official) September 6, 2023 With the new...

In a rapidly globalizing world, SMEs in emerging economies face unique challenges in accessing the global financial system, but the rise of stablecoins offers a promising solution. Small businesses in developing countries face many financial challenges that stablecoins can address. DLTPAY, a Web3 payment and DeFi platform, offers a unified solution to access stablecoin operations and other Web3 services. Small and medium enterprises (SMEs) serve as the backbone of global economic development, comprising 90% of all businesses and accounting for 50% of worldwide employment, according to the World Bank. Their contributions span the gross domestic product (GDP) of developing and developed countries, but emerging economies depend even more on them. Overcoming financial barriers for emerging economies In Sub-Saharan Africa, a region home to 44 million SMEs, these enterprises sustain 80% of the populace, fueling economic growth and development. In Kenya, the small business sector makes up...

Digital Currency Group (DCG) is laying off staff as the company tries to ensure that its expenses-to-profit ratio looks better for potential acquirers. DCG — the owner of CoinDesk — is cutting the publication’s editorial team by almost 45%, or 20 people, which represents 16% of its overall workforce. In an internal memo reviewed by TechCrunch, CoinDesk CEO Kevin Worth explained that this decision “was a required step to ensure a financially sound business moving forward and to set us on the path to close the deal to sell CoinDesk Inc.” “This is an incredibly difficult message to send to everyone over email,” Worth noted. Digital Currency Group is a prominent company in the cryptocurrency industry, known for its investments and support of various blockchain and digital currency ventures. However, the company found itself in trouble following the collapse of FTX and, most recently, legal troubles with a US-based crypto exchange Gemini. ...

The $85-billion venture capital firm launched the Sequoia Crypto Fund in February 2022. Venture capital giant Sequoia Capital reportedly downsized its crypto currency fund from $585 million to $200 million, amid a liquidity crunch and a pivot away toward smaller crypto players. According to a July 27 Wall Street Journal report, the tech-focused VC firm told investors in March it would reduce its Sequoia Crypto Fund — along with its ecosystem fund — to better reflect changed market conditions. Sequoia Capital curbed crypto investments by a hefty 65% , opting for a nurturing stance on startups. Not a volatile market apathy, but strategic cognition, folks! #CryptoInvestments $BTChttps://t.co/hfsAAd8jeV pic.twitter.com/8JvtyShg0n — Chain Review (@Chain_Review) July 27, 2023 The crypto currency fund will now focus more on backing early-stage startups, given the recent crypto industry turmoil that took away many of the opportunities to back larger companies. Another motive behin...

Nasdaq said it remains committed to the digital asset business development and will be monitoring the market events in the near future. Global securities marketplace Nasdaq is halting the launch of its own cryptocurrency custody that it previously planned to roll out by the end of the second quarter 2023. Nasdaq has suspended the launch of its digital asset custody business because of regulatory risks in the United States, CEO Adena Friedman announced during the Q2 results call. “This quarter, considering the shifting business and regulatory environment in the United States, we have made the decision to halt our launch of the U.S. digital assets custodian business and our related efforts to pursue relevant license," Friedman stated. Nasdaq CEO still emphasized that the company remains committed to digital asset business development, stating: "We continue to build and deliver technology capabilities that position Nasdaq as a leading digital assets software solutions provi...

Author: defioasis Recently, Binance announced the launch of its 32nd Launchpad project, Arkham (ARKM). Unlike similar data analysis platforms such as Nansen or 0xScope that adopt a pay-for-advanced-features model, Arkham addresses the revenue problem through token economics while being a free public product. In the Crypto field, on-chain data can be considered a gold mine. Interpreting on-chain data can lead to numerous investment and arbitrage opportunities. Therefore, the use of data analysis platforms is mostly based on real demands, which results in a more authentic user base and higher quality in this competition. TL;DR Data Analysis platforms can be broadly divided into two categories based on their level of openness. One category includes fully open data Analysis platforms where users can define their own parameters, such as Dune Analytics, Flipside, and Footprint Analytics. The other category provides packaged data services where users perform queries under predetermined defi...

The Multichain team said that the team’s funds and access to servers are currently with their CEO Zhaojun who is under Chinese police custody. Cross-chain router protocol Multichain has announced that it is "forced to cease operations " because of the lack of operational funds . The announcement follows a report from blockchain analytics firm Chainalysis saying that withdrawals appear to be a “rug pull” by insiders.  On July 14, Multichain’s official Twitter account announced that it will be finally halting its operations . The team said that a “lack of alternative sources of information and corresponding operational funds ” has forced them to shut down their business activities. 1. On May 21, 2023, Multichain CEO Zhaojun was taken away by the Chinese police from his home and has been out of contact with the global Multichain team ever since. The team contacted the MPC node operators and learned that their operational access keys to MPC node servers had… — Multichain (Previ...

While several theories emerged, the Binance CEO asserted that no BTC or BNB trading activity is happening behind the scenes. Binance CEO Changpeng “CZ” Zhao has refuted accusations that Binance has been secretly selling Bitcoin (BTC) to artificially stabilize the price of its native token Binance Coin (BNB). The rumors have come from several market commentators, including analyst Dylan LeClair and Swan Bitcoin CEO Cory Klippsten, who have accused Binance of intentionally manipulating the market to artificially inflate the value of BNB. In a June 13 tweet, CZ said that Binance had not sold any of their BTC or BNB, adding that the crypto exchange still held “a bag” of FTX Token (FTT) — the native token of the now-defunct crypto exchange FTX. 4. Binance have not sold BTC or BNB. We even still have a bag of FTT. It is amazing they can know exactly who sold based on just a price chart involving millions of traders. FUD. ‍️ pic.twitter.com/M3MUH2bFRE — CZ Binance (@cz_binance) June ...

After being initially discussed in 2021, the investment fund is now capitalizing on the meme-worthy ticker for its new leveraged Bitcoin ETF. In its latest futures-based exchange-traded fund (ETF) filing, Valkyrie Funds utilizes one of the popular memes from the financial Twitter community, known as “fintwit,” to capture attention and interest. On May 16, the investment firm submitted a new application for a Bitcoin (BTC) futures-based ETF to be listed on the Nasdaq with the ticker symbol “BTFD.“ Both of Valkyrie’s Bitcoin-centric funds do not have direct exposure to Bitcoin itself; instead, they invest in Bitcoin futures traded on the Chicago Mercantile Exchange. Bitcoin futures are financial contracts that allow investors to speculate on the future price movements of Bitcoin. These contracts obligate the buyer to purchase or the seller to sell Bitcoin at a predetermined price on a specific future date. Unlike trading Bitcoin — which involves owning and holding the digital asset its...

Robinhood Markets announced the launch of its new ‘Robinhood Connect’ service and numerous updates to its app. The launch of ‘Robinhood Connect,’ a fiat-to-crypto on-ramp featuring support for decentralized applications (DApps) and self-custody wallets, was announced at Consensus 2023 on April 27. Introducing our latest investment in crypto, Robinhood Connect: https://t.co/SmENSYufBA A low-cost, on-ramp for customers, and a seamless integration for developers. Learn more: https://t.co/rnBnR0LYww pic.twitter.com/6uSIAJkudO — Robinhood (@RobinhoodApp) April 27, 2023 Positioned as a competitor to similar services such as Coinbase Pay and MoonPay, Robinhood Connect essentially allows users purchase and sell cryptocurrency directly to and from their self-custody wallet or natively in DApps using a credit or debit card. Robinhood Connect Features integration with Web3 projects as developers can embed the service directly into applications. This allows customers to access their Robinhood ...

Fans of the Bitcoin bull have been transferring him 21 Satoshis as a way to test out the feature. The Bitcoin (BTC) Lightning Network has integrated into the corporate email address of Michael Saylor, a Bitcoin bull and co-founder of Business intelligence software firm MicroStrategy. In an April 17 tweet, the former chief executive of the firm shared a screenshot with his 3 million Twitter followers of a few transactions sent to “saylor@microstrategy.com” from others in the form of Satoshis or “Sats” — the smallest denomination of Bitcoin. So @MicroStrategy converted my corporate email address into a #Lightning️ address and people keep sending me 21 sats... pic.twitter.com/FHde6RtA6N — Michael Saylor️ (@saylor) April 17, 2023 MicroStrategy’s integration is enabled by the Lightning Address protocol, which allows users to link an “Internet Identifier” like an email address rather than having to copy wallet addresses or use QR codes. It is unclear if MicroStrategy integrated the...

With Daniel Alegre on board, Yuga Labs is expected to ramp up its metaverse efforts. Previously, he held leadership positions at Google, Activision Blizzard, and Bertelsmann. Yuga Labs, the company behind the Bored Ape Yacht Club (BAYC) and CryptoPunks NFT collections, has a new CEO: Daniel Alegre. The executive resigned as president and chief operating officer of the Gaming giant company Activision Blizzard to join the NFT startup on April 1.  "Couldn't be more excited for this next chapter," he wrote on Twitter. Alegre was a key player in Activision Blizzard's growth in the past years, overseeing popular Gaming franchises like Call of Duty, World of Warcraft, Diablo, and Candy Crush. Today is my last day as President and COO of Activision Blizzard. Thank you to the incredible teams who create truly epic games. Tomorrow I officially start at CEO of Yuga Labs. Couldn't be more excited for this next chapter. pic.twitter.com/eo3RfIyz0q — Daniel Alegre (@dalegre...

The CEO of Independent Reserve says Hong Kong's "friendly" licensing regime makes it a worthy destination to set up shop, but there are other factors to consider. Australia-based crypto exchange Independent Reserve is looking at opportunities to set up shop in Hong Kong, as the city continues efforts to become a cryptocurrency hub.  Set to take effect in June, the Hong Kong Securities and Futures Commission (SFC) released a proposed licensing regime for cryptocurrency exchanges on Feb. 20 in line with its ambitions to become Asia’s next crypto hub. Independent Reserve co-founder and CEO, Adrian Przelozny told Cointelegraph the “friendly” licensing regime makes Hong Kong a worthy destination to set up a new base, something his firm is now strongly considering. “Right now it is looking very interesting [...] The recent announcement by the regulators in Hong Kong does make Hong Kong look like a friendly jurisdiction.” “We see Hong Kong as a good opportunity for Independent ...

Understanding the time value of money is essential for making sound financial decisions and maximizing returns on investment. Time value of money, explained The time value of money (TVM) is the concept that money available today is worth more than the same amount of money in the future. While inflation gradually weakens the purchasing power of money , its worth can rise over time by being invested or earning interest. The time value of money is an essential concept in finance and investing. Based on the interest rate and the time period involved, it is used to determine the present value of future cash flows, such as investment returns or loan repayments. Related: What is opportunity cost? A definition and examples Several financial calculations — such as future value, present value and annuities — can be used to show the TVM. Understanding the time value of money is crucial in making informed financial decisions, such as comparing investment options, deciding on loan terms and p...

Fanusie doesn’t believe the Chinese-led CBDC movement on the global stage will replace the U.S. dollar, but it may cause a series of geopolitical headaches. A cryptocurrency researcher and former CIA analyst believes the United States government’s relatively slow start on Central Bank Digital Currency (CBDC) development may result in it losing grip on controlling the global financial system. Yaya Fanusie, the policy head at the crypto advocacy group the Crypto Council for Innovation explained in a Feb. 28 Bloomberg interview that sanctioned states are looking to transact on financial infrastructure that isn’t controlled or heavily influenced by the U.S. in order to move funds more freely cross-borders. If the U.S. continues to sit on the “sidelines” and lag behind on CBDC adoption, Fanusie believes this may spell “trouble” and cause unforeseen “geopolitical implications” over time: Fanusie explained that state-issued CBDCs could be a part of this financial infrastructure that becomes...