Ethereum price touches new all-time high in altcoins rally
Ethereum prices surged to new heights ahead of next week’s Altair Beacon Chain upgrade but then pulled back. How do crypto experts make sense of it?
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China releases plan to merge blockchain into global trade
China’s Ministry of Commerce, along with 23 other central departments, on Tuesday jointly issued “The 14th Five-Year Plan for Service & Trade Industries.” It outlines how China will integrate blockchain into the process of global trading, including applying blockchain on bills of lading, building a blockchain-based global shipping information network, and using blockchain to record…
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FTX raises $421 million, valuation jumps $7B in 3 months
Just three months after closing a record US$1 billion series B, the two-year-old cryptocurrency exchange is now valued at US$25 billion. Fast facts The US$420,690,000 Series B-1 funding round saw the participation of 69 investors, with prominent names the lineup, including Ontario Teachers’ Pension Plan Board, via its Teachers’ Innovation Platform, Singapore’s state-owned investment firm…
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Ripple expands cross-border payments using XRP with Tranglo in Asia, Al Ansari Exchange in Middle East
Despite its legal troubles in the U.S., San Francisco-based blockchain payments company Ripple has been pushing ahead to bring faster and cheaper cross-border payments using XRP in Asia and the Middle East. Fast facts Ripple and Tranglo, a Malaysia-based cross-border payments provider, today announced that Tranglo has launched its first live On-Demand Liquidity (ODL) service…
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Chinese e-commerce giant JD.com offers NFTs despite state media criticisms
Chinese e-commerce giant JD.com is giving away free non-fungible tokens (NFTs) to those who sign up for its annual technology conference JD Discovery, in a move to jump on the NFT bandwagon following its rivals Alibaba and Tencent. Fast facts JD.com’s tech arm JD Technology said yesterday in a social media post it is giving…
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Bitcoin reaches new all-time price high, but in a very different market since last time
When the world’s largest cryptocurrency last reached a price high, China had yet to crack down on crypto mining, and there was no U.S. Bitcoin futures ETF. What do changing market conditions mean for the growth of Bitcoin and the crypto industry?
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A radically different financial architecture is here. Who will own it?
DeFi is a real-world experiment testing out a new model for finance, writes Alex Grebnev of Oxygen. What is the future of banking without Wall Street?
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Tesla records $51M Bitcoin impairment charge in Q3 despite profit growth
Electric carmaker Tesla Motors, Inc. (TSLA) on Wednesday reported that its third-quarter revenue surged 57% to US$13.76 billion from US$8.77 billion last year, and a net income of US$1.62 billion for the quarter. However, the company’s digital assets were hit by a Bitcoin-related impairment of US$51 million, down to US$1.26 billion in digital assets from…
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What Singapore’s novel crypto license scheme means for the future of payments
In a special Q&A, CEO Louis Liu describes the hoops FOMO Pay jumped through to win Singapore’s first crypto license and calls its regulator a ‘collaborator.’