Ultimate Guide to DeFi, and How to Take Part » cryptoupdate.io

Ultimate Guide to DeFi, and How to Take Part » cryptoupdate.io

“Decentralized finance,” or “DeFi” for short, describes a wide range of cryptocurrency and blockchain-based financial applications with the overarching goal of upending the traditional financial services industry.  Earning interest, borrowing, lending, purchasing insurance, trading derivatives, trading assets, and more are all possible with DeFi, but without the time and hassle often associated with banking. DeFi,…

BMW Expects Loyalty Program from Coinweb » cryptoupdate.io

BMW Expects Loyalty Program from Coinweb » cryptoupdate.io

BMW Financial Services will be working with Coinweb to create a cross-chain Smart Contract and Customer Loyalty Program. Project implementation will occur in two stages. In order to improve BMW’s automobile financing services and automate time-consuming manual procedures, the company is launching a pilot program to test the viability of cross-chain, parallel-executing Smart Contracts. A…

First Chinese NFT Market to Open in a Week » cryptoupdate.io

First Chinese NFT Market to Open in a Week » cryptoupdate.io

According to a story that was released by a local news agency on December 28 called Sina News, China is planning to create its first regulated platform for trading nonfungible tokens (NFT) on January 1, 2023. The Chinese Technology Exchange, which is run by the government, worked with Art Exhibitions China, which is also run…

Kraken Will Cease Operations in Japan » cryptoupdate.io

Kraken Will Cease Operations in Japan » cryptoupdate.io

Kraken, a cryptocurrency exchange located in the United States, said on Wednesday that it will halt its operations in Japan the next month, blaming the existing market circumstances in the state as well as a sluggish market for cryptocurrencies worldwide. According to a statement released by the company, Kraken will deregister with the Financial Services…

Avraham Eisenberg Is Imprisoned » cryptoupdate.io

Avraham Eisenberg Is Imprisoned » cryptoupdate.io

Avraham Eisenberg, who confessed emptying the decentralized finance (DeFi) protocol Mango Markets with his very successful trading method, has been detained by U.S. authorities. A document states that he was taken into custody on Monday in Puerto Rico. Exploiter of the Mango Markets Is Caught At about the middle of October, Eisenberg had compromised the DeFi protocol….

Cyberattack on a Subsidiary of BIT Mining » cryptoupdate.io

Cyberattack on a Subsidiary of BIT Mining » cryptoupdate.io

The top technology-driven cryptocurrency mining firm, BIT Mining Limited, has reported that its subsidiary, BTC.com, was the target of a cyberattack on December 3, 2022. About US$700,000 worth of assets held by BTC.com’s customers and about US$2.3 million worth of assets owned by BIT Mining were stolen in the incident. The company has informed local Chinese authorities of…

Ripple Helps Palau Create National Stablecoin » cryptoupdate.io

Ripple Helps Palau Create National Stablecoin » cryptoupdate.io

According to Wu Blockchain, the island government of Palau collaborated with the cryptocurrency technology firm Ripple to create a national stablecoin for the state. The president, Surangel Whipps Jr., participated in a panel discussion on the future of blockchain technology, web 3.0, and the Metaverse remotely. He spoke on the nation’s digital residency policy and…

Japan’s FSA May Lift Its Ban on Foreign Stablecoins » cryptoupdate.io

Japan’s FSA May Lift Its Ban on Foreign Stablecoins » cryptoupdate.io

There is hope that Japan would lift its restriction on USD Coin and Tether, two foreign-issued stablecoins. A CoinPost story claims that the country’s Financial Services Agency would revise Cabinet Office rules and publish guidelines for the use of the aforementioned stablecoins in 2023, therefore, lifting the prohibition on their usage and circulation. In accordance with…