Chinese e-commerce giant Taobao sells NFTs at annual shopping festival
Demand for non-fungible tokens appears insatiable as industry distances itself from crypto sector to avoid crackdown.
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Russia looks to tap demand for power as crypto miners flood out of China
Plentiful electricity, cold climate are among drawcards as Chinese mine operators flee crackdown at home.
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Cryptocurrency payments appear to stall in Singapore
Retailers reluctant to accept currency they are said not to trust even as large finance sector players offer crypto products and beef up their holdings.
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BlockFi ordered to stop offering interest accounts to New Jersey customers
U.S. crypto lending platform BlockFi has been ordered by the New Jersey Bureau of Securities to stop accepting new customers who are based in New Jersey for its interest-bearing accounts due to alleged violations of securities laws. The order takes effect from from July 22. Fast facts In a series of tweets, BlockFi’s CEO and…
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Bitcoin sees outflows amid inflows for Ethereum, Cardano, XRP in crypto market ‘summer doldrums’
The cryptocurrency market remains quiet, with net inflows of just US$2.9 million last week, according to digital asset investment firm CoinShares’ weekly digital asset fund flows report. Fast facts “The summer doldrums are here, but in line with seasonal expectations,” wrote James Butterfill, a CoinShares’ investment strategist. Bitcoin investment products saw net outflows of US$10.4…
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China’s digital yuan moves a step closer with smart-contract technology
Central bank in apparent push for adoption ahead of Olympics as it doubles up on warning over non-state cryptocurrencies.
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Binance CEO says ‘never easy’ running a crypto exchange as ‘new chapter awaits’
Changpeng “CZ” Zhao, the CEO of Binance — the world’s largest cryptocurrency exchange by trading volume — today said it was “never easy” running a crypto exchange in a series of tweets about key products Binance has launched over the past four years. Fast facts “Never easy,” Zhao tweeted, referring to an extract from the…
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Bitcoin mining difficulty drops further as China ban begins to bite
The difficulty of mining Bitcoin has dropped a further 4.81% in its latest fortnightly adjustment, according to data from BTC.com, bringing it to the lowest point since January last year. Fast facts The decline marks the fourth consecutive drop in the difficulty rate for the world’s leading cryptocurrency — the longest slide in its history.…
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Binance draws warning over stock tokens from Hong Kong regulator
Hong Kong’s Securities and Futures Commission today issued a warning that Binance — the world’s largest cryptocurrency exchange by trading volume — was not allowed to conduct “regulated activity” in the city, specifically trading in stock tokens. Fast facts In its statement, the SFC said it was aware that Binance was offering stock tokens in…
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How blockchain can transform social media | Part 2
Why is social media’s current centralization problematic, and what would a decentralized Twitter or Facebook look like?