Coinbase Adds Cardano Staking Rewards

Coinbase says the exchange has additional “plans to continue to scale our staking portfolio” throughout 2022.  Coinbase, the publicly traded cryptocurrency exchange, has been on quite the listing spree over the last year, adding everything from ApeCoin (APE) to Wrapped Centrifuge (WCFG).  Its also buffing up its staking options. The exchange announced today that it now offers staking for ADA, the native cryptocurrency of the Cardano blockchain.  In explaining the decision, senior product manager Rupmalini Sahu pointed to ADAs top-10 market capitalization and its “flexible, sustainable, and scalable” blockchain design. That design uses smart contracts, similar to Ethereum and Solana, to enable decentralized finance, NFTs, and other activities on the network.  Cardano is a proof-of-stake cryptocurrency, meaning that its network is secured not through mining, as with Bitcoin, but by people committing a portion of their ADA holdings to the network. In return, they receive a share of newly minted ADA.  Because this “staking” process can be a bit overwhelming or time-consuming for average user, Coinbase and other exchanges offer to do it for them—pooling ADA together on the Cardano network, then redistributing a portion of the rewards. Its estimating an annual return of 3.75%, to be distributed every five to seven days.  Cardano, the price

2022-03-24Malalim na Pagsisid

Japan's Messaging Platform LINE to Launch NFT Marketplace

Japanese social media and messaging platform LINE has launched its Non-Fungible Token (NFT) marketplace dubbed LINE NFT which is set to officially go live on April 13.  The launch of the LINE NFT platform is in line with the companys long-standing quest to be a major player in the blockchain industry, and with the marketplace, it will be able to provide a better alternative to all of its 90 million monthly users to participate in the growing NFT ecosystem.  Through LINE NFT, users can purchase digital art and trade them at will. Per the launch schedule revealed, the marketplace will feature a total of 100 collectables at launch encompassing 7 genres and curated from a total of 17 content creators. These content platforms include but are not limited to the popular Yoshimoto Kogyo.  LINE has an active blockchain research lab which it floated back in 2018 and has done impressive research to encompass the key emerging offshoots of blockchain technology. As a part of its strides, the social media giant launched the “NFT Market β” where NFTs based on LINE Blockchain can be traded.  The advent of the Beta market exposed and prepared the company for the launching of the LINE NFT. While the

2022-03-24Malalim na Pagsisid

Parachain Auction Winner Acala Commits $250M to Fuel aUSD stablecoin Adoption on Polkadot

Parachain auction winner Acala Network has launched a $250 million fund to fuel the adoption of Acala USD (aUSD) as the dominant stablecoin for the Polkadot and Kusama ecosystem respectively.  As unveiled by the blockchain protocol, the funding round came as a result of the collaboration between the top 9 known parachain protocols as well as prominent names in the digital currency ecosystem.  The $250 million commitment was pulled by notable investors in the crypto industry including Alameda Research, Arrington Capital, Digital Currency Group, IOSG, Jump Crypto, Kraken Ventures, and Pantera Capital, among others. The fund will be used in supporting protocols that are built on either Polkadot or Kusama, but which has the right use cases on how stablecoins and most importantly, the aUSD can be integrated across the board.  “Building the native, decentralized stablecoin of Polkadot and Kusama has been at the heart of Acalas work for over three years,” said Acala co-founder Bette Chen. “It is fantastic to see this group of parachains and funds coming together to grow the cross-chain ecosystem with aUSD as a foundational building block.”  Acala Network, tasked with the creation of a native stablecoin for the Polkadot ecosystem, came off as the first protocol to win

2022-03-24Malalim na Pagsisid

Qualcomm Announces $100m Metaverse Investment Fund

Qualcomm has announced a $100 million investment fund for crypto companies.  The San Diego-based chip suppliers fund will go to companies building the metaverse using augmented reality, mixed reality or virtual reality.  The Qualcomm Chief Financial Officer said in an interview with the Wall Street Journal that the company aims to broaden the market for its chips through this new Snapdragon Metaverse Fund.  He added that the fund would begin accepting applications in June.  On its website, Qualcomm said that the “Snapdragon XR1 and XR2 platforms are purpose-built to meet the particular demands and requirements of todays virtual reality and augmented reality devices.”  The company added that it has planned to “deploy capital through a combination of venture investments in leading XR companies by Qualcomm Ventures and a grant program by Qualcomm Technologies, Inc. for developer ecosystem funding in XR experiences.” The XR experiences include gaming, health and wellness, media, entertainment, education and enterprise.  Among other notable achievements, Qualcomms portfolio includes chips for virtual reality headsets and a partnership with Microsoft for creating chips engineered for augmented reality. The deal generates 17% of its $10.7 billion revenue from selling chips related to the metaverse.  A growing number of startups have received funding to support the creation of

2022-03-23Malalim na Pagsisid

Thailand Bans Payments Through Crypto

Thailands Securities and Exchange Commission (SEC) on Wednesday issued orders banning the use of digital assets in payments for goods and services. The ban will be effective from April 1.  The move is in line with the Thai Governments stance against crypto payments. The Bank of Thailand has repeatedly insisted that it does not support the medium as legal tender. The ban also comes as a follow-up to recent comments from the SEC that it would look into regulating the use of tokens in purchasing goods and services.  Ban to protect financial stability in Thailand  The SEC said crypto payments could dent Thailands economic stability. This stance is likely motivated by the large amount of volatility seen in the crypto market recently, which makes the medium somewhat unfeasible for use as tender.  Businesses that provide crypto payment services have up to 30 days to comply with the rules, Reuters reported. The move is in line with most other countries approach to crypto, where it is approved as an investment vehicle, but not as legal tender.  Recently, Southeast Asian peer Indonesia also warned financial firms against facilitating crypto payments. To date, El Salvador is the only country that has adopted crypto as legal tender.  Thailand still has

2022-03-23Malalim na Pagsisid

Crypto.com Becomes the Official Sponsor for FIFA World Cup 2022 in Qatar

Crypto exchange Crypto.com continues to expand its sponsorship deals in the sports industry. The popular crypto exchange has recently joined the list of sponsors for the 2022 FIFA World Cup to be held in Qatar later this year.  The Singapore-based company will also be the exclusive crypto trading platform for the FIFA event. Crypto.com is one of the most popular global exchanges with over 10 million customers worldwide. By being the official sponsor, Crypto.com will get significant branding exposure both inside and outside the stadium. Kay Madati, FIFAs Chief Commercial Officer said:  Crypto.com has already demonstrated a commitment to supporting top-tier teams and leagues, major events and iconic venues across the world, and there is no platform bigger, or with a greater reach and cultural impact, than FIFAs global platform of football.  We are delighted to have a global brand like Crypto.com join us as a sponsor of the exciting and groundbreaking FIFA World Cup in Qatar, ultimately helping to grow our beautiful game on a global scale.  Crypto.com And Its Love for Sports  Over the last year and more, Crypto.com has been a major sponsor to some of the biggest sporting events. It enjoys partnerships with some of the top-tier sports including MAA, basketball,

2022-03-23Malalim na Pagsisid

Crypto Exchange Binance Confirms Shutdown in Ontario, Canada

Binance has confirmed to Canadian regulators that it will no longer open new accounts for users in Ontario.  Crypto exchange Binance has confirmed to the Ontario Securities Commission (OSC) that it will no longer open accounts for new customers in the Canadian province of Ontario.   The industrys largest exchange also committed to cease trading for existing Ontario-based accounts and will provide fee waivers and reimbursements to certain users.   These commitments—sent to the OSC here—are accompanied by several acknowledgments made by Binance about the reality of the exchanges activity in Ontario.  The exchange has acknowledged that Ontario investors were able to continue to trade on its platform after restrictions were “supposedly put in place.”   Importantly, Binances undertaking to the OSC represents a “legally enforceable” commitment from the exchange to the regulator going forward.   “This undertaking represents a legally enforceable commitment by Binance to the OSC. The OSC reserves the right to take enforcement action against Binance for any past, present or future breaches of Ontario securities law not arising from the events described in the undertaking,” the OSC said in a statement yesterday.  The move comes after a series of spats with the Canadian regulator, a story that began in the summer of 2021.

2022-03-22Malalim na Pagsisid

Cryptoassets Use in Ukraine War under Scrutiny by Global Regulators: Reuters

The use of crypto assets is being closely watched by global financial regulators amid the war in Ukraine after worry about its use to evade Western sanctions on Russia, according to Reuters.  U.S. and European lawmakers have sent out multiple warnings to digital asset companies asking them to comply with Western financial sanctions imposed on Russia after it invaded Ukraine. However, reports have said that the $1.8 trillion crypto sector has not completely accepted the requests from lawmakers.  Crypto exchanges have turned a blind eye to orders for a cut off of all Russian users, which has given rise to concerns that Russia could use cryptocurrencies as a loophole to navigate around sanctions that have been put upon the country by the United States and Europe, according to a report by Blockchain.News.  David Schwimmer, LSEGs chief executive officer, said that crypto exchanges are stuck in between either abiding by the philosophy of independence from regulation or supporting the centralised system of global finance - which calls for the requirement of regulation and transparent frameworks.  Another report by Blockchain.News said that Russians with strong social connections, who are under international sanctions for the invasion of Ukraine, have been using cryptocurrencies to launder their wealth.  Crypto watchdog

2022-03-22Malalim na Pagsisid

Cardano Completes Network Upgrade, ADA Reacts To The Upside

Cardano remains one of the best performing assets in the crypto top 10 by market cap for the past 7 days. ADAs price, with Avalanche (AVAX), Ethereum (ETH), and Solana (SOL), trades with over 15% in profit over this time period, and gains could extend on different timeframes.  At the time of writing Cardano trades north of $0.90 with a 2.5% profit in the last 24 hours.  While Bitcoin and larger cryptocurrencies by market cap move sideways, Cardanos reaction to the upside could be driven by its increase in the number of project building on its ecosystem, and recent improvements implemented on the network.  Cardanos developer Input Output Global (IOG) has been focused on optimizing and improving the network. Today, this company revealed their latest update proposal to increase the per-block Plutus script memory units limits from 56 million to 62 million.  This update, the company clarified, will aid the network‘s scalability. Plutus is one of Cardano’s recent most recent components as the network made a transition to implement smart contract capabilities.  Operating a platform, Plutus enables users to leverage a programming environment. In that way, users can build their own smart contract without needing technical skills, maintaining code, and removing the need to use

2022-03-22Malalim na Pagsisid

Malaysian Communications Minister to Propose Crypto Legalization

Datuk Zahidi Zainul Abidin, the deputy minister of the Malaysian Ministry of Communications and Multimedia, is rallying the government to legalise cryptocurrencies to benefit the tech and crypto-savvy population.  The comments from the deputy minister to legalise cryptocurrencies were made on the floor of the Dewan Rakyat, the lower chamber of the Malaysian parliament, and in response to the question from Syed Ibrahim Syed Noh (Ledang-PH), who seeks to know the governments stand on trading on NFT platforms.  According to Datuk, avenues will be explored to help boost the youths involvement in digital currencies, which he considered largely the future of finance.  “All of these are under the purview of Bank Negara Malaysia and the Securities Commission,” Datuk said. Talking about the bodies tasked with the powers to make his recommendations come to pass, “we hope the government will allow and legalise this so that we can increase the youths uptake of cryptocurrencies.”  Malaysia is a very historic country when it comes to developing the digital currency ecosystem. As far back as October 2019, British banking giant HSBC announced the successful execution of a pilot live blockchain letter of credit (LC) transaction in Malaysia. Despite being an Islamic state where there are a lot

2022-03-22Malalim na Pagsisid
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