Dubai's Department of Finance (DOF) has announced a partnership with Crypto.com to process payments for government services in the emirate. The step aligns with the Dubai Cashless Strategy that aims to digitise 90 percent of all transactions recorded in the region.
At least six lawsuits have been filed against Coinbase following a cybersecurity incident that led to a breach of user account data, a report by CoinTelegraph claimed on Monday. The plaintiffs have said that Coinbase failed to train its employees adequately that led to the incident.
Dubai's Virtual Assets Regulatory Authority (VARA) introduced changes to its crypto policies aiming to increase risk oversight and ensure investor security. The policy changes focuses on deploying more control around margin trading and token distribution services among others.
The overall crypto market cap slipped by 0.50 percent in the last 24 hours. Bitcoin and Ether, both registered notable losses on Monday. Tether, Ripple, and Solana followed BTC and ETH into losses. Meanwhile, Monero and Leo managed to log minor gains.
WazirX has been directed by the Singapore High Court to complete some more documentation work before giving it the go-ahead to implement its restructuring scheme. For now, the Singapore court has extended its moratorium cover to WazirX and Zettai to 6 June.
Coinbase has estimated that it could see expenses between $180 million (roughly Rs. 1,541 crore) - $400 million (roughly Rs. 3,426 crore) as it sets to manage the situation after a recent data breach incident. As part of the attack, cybercriminals managed to lure in funds from the exposed users under false claims and Coinbase plans to voluntarily reimburse the attacked users.
The overall crypto market cap rose by under one percent in the last 24 hours. While Bitcoin registered small gains, Ether logged minor losses on Friday, May 16. While Solana, Dogecoin, and Cardano clocked minor losses, Litecoin and Iota managed to see profits.
In a video message posted on X, Coinbase CEO Brian Armstrong said that cyber attackers had written to the exchange, claiming to have obtained personal data of a portion of Coinbase users. In exchange for not leaking the data, the attackers demanded a ransom of $20 million (roughly Rs. 171 crore).
Summer Mersinger, a commissioner of the US Commodity Futures Trading Commission (CFTC), has been appointed as the CEO of the Washington DC-based Blockchain Association. May 30 will mark Mersinger's last day of working at the CFTC.
The Ethereum Foundation unveiled a security-focussed initiative called "Trillion Dollar Security" on Wednesday. Fredrik Svantes, the protocol security lead of Ethereum, and Josh Stark from the Ethereum Foundation management team have been appointed as the initial co-chairs to oversee the project.
FalconX has announced a partnered with the Standard Chartered bank on Wednesday. Under the partnership, FalconX said it will integrate the bank's traditional finance infrastructure into its own offerings and cater to institutional investors.
The overall valuation of the crypto sector surged by 3.15 percent over the last 24 hours. Bitcoin and Ether, both saw gains on Wednesday. Most altcoins followed suit with Solana, Dogecoin, and Polkadot also registering profits.
Paul Atkins, the chairperson of the Crypto Task Force, acknowledged that securities were rapidly migrating from off-chain databases to on-chain ledger networks, indicating adoption of Web3 technologies. He said that tokenisation could enhance capital formation by transforming relatively illiquid assets into liquid investment opportunities.
Coinbase is set to enter the S&P 500 index in the US on May 19. Its entry into this elite group makes for a significant moment in Web3 history as it is the first crypto firm to become part of the index. Coinbase posted a message of gratitude, announcing the development on X.
Illegal crypto mining operations in Malaysia rose to 2,397 in 2024 from the 610 cases reported in 2018. Law enforcement authorities there have reportedly initiated efforts to identify and bust locations they suspect are origins of unauthorised mining operations.
Over the weekend, US Senator Elizabeth Warren snubbed the idea of letting Big Tech companies dive too deep into the stablecoin sector. In an interview with CoinDesk, Warren said that Big Tech's introduction of stablecoin transactions could "choke off small businesses from the payments system."
The crypto market cap dropped by 0.29 percent over the last 24 hours. Bitcoin and Ether logged minor losses on Monday, May 12. Litecoin, Dogecoin, and Cardano also registered minor losses. Analysts have advised investors to tread lightly amid prevailing market volatility.
A report by Allied Market Research (AMR) has estimated that the global automotive blockchain market is on the track to become a $5.6 billion (roughly Rs. 47,800 crore) dollar industry by 2030.
Meta is considering the adoption of stablecoins as a mode to process international payouts. Through stablecoins, Meta expects to simplify payouts to the creators using its platforms from various locations around the world.
Celsius founder Alex Mashinsky was sentenced on Thursday to 12 years in prison after pleading guilty in December to securities fraud and commodities fraud. Federal prosecutors said Mashinsky, 59, misled customers about Celsius' safety, and artificially inflated the value of Celsius' proprietary token Cel.
The overall crypto market valuation rose by nearly five percent in the last 24 hours. Bitcoin and Ether, both registered notable gains on Friday, May 9. Ripple, Dogecoin and Solana, all registered profits on Friday. Litecoin and Protocol, however, saw losses.
Bhutan has launched a crypto payment system to let users make crypto payments using Binance Pay. The aim is to incentivise tourists with cheaper alternatives to dodge currency exchange rates and limitations in the acceptability of international cards.
The US Office of the Comptroller of the Currency (OCC) has clarified that all national banks and federal savings associations under its control are permitted to offer crypto services to their clients. These may include crypto-to-fiat conversions, trade executions, and tax services among others.
Ethereum's Pectra upgrade is live, which means that network validators can now stake 2,048 ETH tokens. This is a notable rise from the previous limit of 32 ETH tokens. This allows them to earn higher staking rewards and improve the overall experience of contributing to the network.
Tether said that its RWA tokenisation platform, dubbed Hadron, has been integrated with on-chain intelligence firm Chainalysis. Tether expects to attract institutional investors to engage with Hadron by upgrading its security capabilities.
The overall crypto market cap rose by 1.50 percent in the last 24 hours. Bitcoin and Ether saw small gains on Wednesday, May 7. Ripple, Chainlink, Avalanche logged minor profits. Tron and Polkadot, meanwhile, saw losses.
Emma Reynolds, the Economic Secretary of the Treasury, said that the UK was not looking to mirror the US in creating a national crypto stockpile. Reynolds did, however, say that the UK supported the US on increasing Web3-focussed collaborative efforts.
The Nairobi High Court has asked Sam Altman's World project to permanently delete its citizens' biometric data and said that the controversial human ID project failed to acquire valid consent from the Office of the Data Protection Commissioner (ODPC) before obtaining the eye scans of Kenyan citizens to give them their World IDs.
Dubai-based MBS crypto exchange is set to allocate $8.8 billion (roughly Rs. 74,164 crore) over a period of five years to grow the Web3 ecosystem in Maldives. The creation of the "Maldives International Financial Centre" is the focus point of Maldives' crypto-related masterplan, Financial Times claimed in its report.
The government of the Kyrgyz Republic signed a Memorandum of Understanding (MoU) with Binance on May 4 aiming at a long-term partnership. Sadyr Nurgozhoevich Japarov, the President of the land-locked central Asian country, was present for the MoU signing.
The overall crypto market dipped by 1.50 percent in the last 24 hours. On Monday, May 5, Bitcoin and Ether both registered small losses. Majority altcoins dropped in their prices as the Federal Open Market Committee (FOMC) gets set to assess US' economic status this week. Market is volatile and analysts advice caution to investors.
The Bharat Web3 Association has announced a cybersecurity workshop to be hosted in Bengaluru on May 8. Sridhar Govardhan, the chief information security officer (CISO) of CoinDCX has been invited to discuss the lessons that can be taken from recent breaches that dented the Web3 space. Other senior members from companies like CoinSwitch and Mudrex are also listed to speak at the workshop, Chenoy told Gadgets 360.
The overall crypto market cap rose by nearly two percent in the last 24 hours. Bitcoin and Ether joined the rally on Friday. Cardano, Avalanche, and Chainlink also registered profits. Meanwhile, Tether and Monero recorded losses.
Eric Trump has reportedly announced that the USD1 stablecoin has been picked as the mode of payment for MGX’s purchase of a minority stake in Binance. The announcement was made at the ongoing Token2049 event in Dubai on Thursday, May 1.
Visa has partnered with Bridge to let developers build on its platform offer stablecoin-linked Visa cards to their users. Both companies shared official announcements on the development on April 30. They said that the main aim of this deal is to introduce stablecoins as legitimate payment options for day-to-day purchases.
Ripple has offered to acquire USDC-issuer Circle for $4 billion (roughly Rs. 33,843 crore) to $5 billion (roughly Rs. 42,300 crore) but the offer was deemed too low and rejected. While Ripple remains interested in Circle, it hasn’t decided whether to make another offer.
Crypto enthusiasts descended on Dubai on Wednesday for the TOKEN2049 conference, which is expected to attract around 15,000 people. Speakers at the two-day event in the desert city include chief executives at some of the world's major crypto firms, the head of digital assets at BlackRock and Goldman Sachs, as well as the US president's son, Eric Trump, who is set to take the stage on Thursday.
The overall crypto market cap clocked a loss of 0.26 percent in the last 24 hours. While Bitcoin saw a minor loss, Ether logged a small gain on Thursday, May 1. The majority of altcoins reflected price dips influenced by unfavourable US economic indicators. Analysts do, however, believe that the market sentiment is optimistic.
Coinbase, Animoca Brands, Fabric Ventures, and Founders Factory have announced an accelerator initiative in the UK, focused on Web3 projects. Alongside the cash reward, the initiative also offers 16 weeks of industry experience from Founders Factory, a startup accelerator firm based in London, UK.
Abu Dhabi’s ADQ sovereign wealth fund, the First Abu Dhabi Bank (FAB), and investment firm IHC have planned to launch a Dirham-backed stablecoin. The token will be supported on the ADI blockchain, developed by an Abu Dhabi-based non-profit firm called the ADI Foundation.
Mastercard has announced it will launch a a payment ecosystem allowing buyers and merchants to facilitate stablecoins transactions. In an official announcement released on April 28, Mastercard claimed that this system would be effective globally, covering over 150 million merchant locations.
Bitget and Avalanche have joined forces to contribute to India’s web3 infrastructure. As part of the partnership, the companies plan on initiating awareness campaigns and educational workshops on crypto safety and blockchain exploration throughout the year as part of the “HODL ON” tours.
In its “Asia Crypto Security” report, Binance highlighted some crucial patterns observed in the Asian crypto market. Its report has highlighted that the demand for advanced security measures is intensifying in Asia’s crypto markets – where investors are cautious and frequent in their engagements with volatile crypto assets.
US SEC Chair, Paul Atkins has said that the crypto sector deserves clear regulatory rules. He spoked at the SEC's crypto roundtable, which the Republican leadership launched to weigh how securities laws may apply to digital assets.
The overall crypto market cap rose by 0.21 percent in the last 24 hours. While BTC logged minor gains, ETH settled with small losses. The movement of the altcoins indicate at prevailing volatility, however, analysts say the market sentiment is bullish.
The Financial Intelligence Unit of India (FIU-IND) has instructed all crypto exchanges to re-verify the KYC data of their users before June 30. The aim of this step is to maintain accurate details of crypto holders, while also identifying those flouting national crypto tax laws.
US banking regulators have pulled back directives urging banks to show caution when dabbling in cryptocurrency. Under the prior guidance, regulators warned banks to be wary of volatility, legal uncertainty and liquidity risks when considering whether to provide crypto-related services or take on crypto companies as clients.
The overall crypto market valuation rose by 0.92 percent over the last day. While Bitcoin saw profits on Friday, Apri 25, Ether was struck with losses amid volatile market. Ripple, Dogecoin, and Tron logged price dips. Whereas Cardano, Leo, and Solana registered small gains.
The Central Bank of Russia has proposed a project to test crypto activities under an experimental legal regime (ELR) owing to the volatility and risks associated with cryptocurrencies. Earlier in March, it proposed to conduct these crypto transaction trials with “highly qualified investors”.
PayPal will start offering rewards to the holders of its PYUSD stablecoin to boost its adoption and uses. Talking about the development, PayPal CEO said that the company aims to enable its customers to experience the utility scope of stablecoins.
