Eqonex will shut its cryptocurrency exchange after two years, exit stage left
Eqonex said that it would stop trading on its cryptocurrency exchange on August 22. Users will still be able to withdraw money until September 14. The company said that the closure was a result of a drive to simplify operations, which was aimed at providing “the highest potential for revenue growth and long-term financial sustainability,” including its asset management and custody services at Digivault.
On Polkadot, Interlay provides a trustless BTC stablecoin bridge.
A cross-chain bridge powered by Bitcoin (BTC) was introduced by Interlay, a blockchain company located in London, on Polkadot (DOT). The bridge, known as interBTC (iBTC), enables the usage of Bitcoin on non-native blockchains for non-fungible tokens (NFTs), cross-chain transfers, and decentralised finance (DeFi), among other things.
Greater authority will be given to Victorian police to take offenders’ cryptocurrency holdings.
Soon, Victorian Police in Australia will be given additional authority to take bitcoin and digital assets from offenders and force platforms to turn up suspicious information. The Major Crime and Community Safety Legislation Amendment Bill 2022, which seeks to stifle organised crime in the state, was presented to parliament on Tuesday.
Critic of the “one-percenters” behind Bitcoin is nonetheless optimistic about the future of digital assets
Bitcoin (BTC) is far from being ideal by design, according to a finance expert at the London School of Economics, but it’s impossible to see a world without digital assets (LSE). Igor Makarov, a professor of finance at the LSE, thinks that digital currency and digital assets will surely play a role in the future of finance, and that the effectiveness of these instruments will be greatly influenced by their design.
Pyctor, a digital asset tool, is sold by Dutch bank ING to GMEX.
The Dutch multinational banking and financial services company ING Group has spun off its multi-asset trading infrastructure company Pyctor to GMEX. Pyctor, an institutional-grade digital asset custody solution from ING, has been purchased by GMEX in a multi-million dollar agreement, the two firms said on Monday.
BlackRock teams up with Coinbase in crypto expansion
The world’s largest asset management, BlackRock, has joined with cryptocurrency exchange Coinbase to provide institutional investors with access to bitcoin, demonstrating its growing optimism over digital assets.
TORN cryptocurrency almost loses 25% of value after developer arrest
TORN, the token of Tornado Cash, plummeted as much as 24% after a developer for the crypto transaction mixing protocol was arrested in Amsterdam.
The drop extended the slide begun earlier this week after the US Treasury Department banned US citizens from using the Ethereum-based protocol. The site is one of the most common platforms for those who want to obfuscate crypto transactions. It has been used by a North Korean hacking group linked to the $625 million attack on the blockchain gaming project Axie Infinity in March as well as facilitating a variety of cyber crimes, the Treasury Department said.
Ethereum to move to “cheaper, faster and more environmentally friendly” system Sep 15
The blockchain plans to switch to a proof-of-stake (PoS) mechanism, an event known as the Merge, next month in a move developers say will make it cheaper, faster and more environmentally friendly. The change from a proof-of-work (PoW) system will end an income stream for Ethereum miners, who are rewarded with ether (ETH) tokens for their efforts. Miners produced $620 million in ether in July alone, data shows. Tron founder Justin Sun has emerged as one of the most prominent investors supporting a hard fork to keep the money flowing.
Robinhood cuts approx. 25% of staff following crypto crashes
The company said the economic climate had reduced trading activity, which had boomed at the height of the pandemic. The move comes after the firm reported quarterly revenues of $318m (£260m), 44% down on $565m a year earlier.
In April, the firm slashed 9% of its workforce, which its boss Vlad Tenev said “did not go far enough”.
Crypto platform Nomad offers 10% bounty after $190m hack
A$190 million hack that once again exposed security flaws in the digital-token industry has cryptocurrency business Nomad offering a bounty to recover stolen assets.
Anyone returning at least 90% of stolen tokens will be viewed as a so-called white-hat hacker that seeks to spotlight vulnerabilities rather than make malicious gains, according to a statement from Nomad. The remaining 10% would effectively become the reward.
Reddit partners with crypto platform FTX to aid users manage community points
Through a connection with FTX, the cryptocurrency exchange run by billionaire Sam Bankman-Fried, Reddit now allows users to buy Ethereum on the site. In a news release, FTX revealed that Reddit users may now manage their blockchain-based community points using the company’s payment system, FTX Pay.
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