Cryptonews

Cryptonews


Neobank K-Bank May Have to Postpone IPO Plan as Crypto Winter Bites

Posted: 28 Jun 2022 05:00 PM PDT

An up-and-coming South Korean bank appears to be suffering from the crypto market's volatility – and may have to shelve its initial public offering (IPO) plans if crypto winter continues.
Per ENews Today, K-Bank, the banking partner of the market-leading crypto exchange Upbit, is "experiencing difficulties."
The report explained that the bank – which had hoped to follow its biggest rival Kakao Bank onto the stock market – has been hit with a double whammy of bad news....
Read More: Neobank K-Bank May Have to Postpone IPO Plan as Crypto Winter Bites

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Kazakh President Says Government Must Make ‘Favorable’ Conditions for Crypto Industry Development

Posted: 28 Jun 2022 01:00 PM PDT

Kazakhstan's President Kassym-Jomart Tokayev has told ministers to create "favorable conditions" for a new "digital" ecosystem that makes use of "cryptocurrencies and digital assets."
Per Kaztag, which quoted the presidential press service, Tokayev was speaking at a financial sector summit held at the Astana International Financial Center yesterday. ...
Read More: Kazakh President Says Government Must Make 'Favorable' Conditions for Crypto Industry Development

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Here's What Elon Musk Gets Wrong About Bitcoin and Dogecoin

Posted: 28 Jun 2022 10:00 AM PDT

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Read More: Here's What Elon Musk Gets Wrong About Bitcoin and Dogecoin

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eBay's NFTs, Yield on Ledger, Axie Infinity's Ronin Bridge Reopens, Celebrity Crypto Scams + More News

Posted: 28 Jun 2022 08:38 AM PDT

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today's crypto news.
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Read More: eBay's NFTs, Yield on Ledger, Axie Infinity's Ronin Bridge Reopens, Celebrity Crypto Scams + More News

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CBDCs ‘An Investment’ to Protect the Fiat System, Cash Will Disappear, Swedish Central Banker Says

Posted: 28 Jun 2022 08:06 AM PDT

A central bank digital currency (CBDC) is "an investment" to protect the current fiat monetary system, according to a central banker from Sweden, who also argued that cash will soon be history....
Read More: CBDCs 'An Investment' to Protect the Fiat System, Cash Will Disappear, Swedish Central Banker Says

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Vitalik Buterin Recalls Old Joke About EOS as the Team Claims They are 'Making a Comeback'

Posted: 28 Jun 2022 06:22 AM PDT

Ethereum (ETH) co-founder Vitalik Buterin has tweeted that EOS, a once-popular blockchain project, stands for "Ethereum on Steroids," recalling an old joke within the crypto community.
The Ethereum mastermind praised the project, saying that the core team learned from "Ethereum's amateurish naivety and idealism" and created a smart contract platform with much higher scalability and speed....
Read More: Vitalik Buterin Recalls Old Joke About EOS as the Team Claims They are 'Making a Comeback'

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Bitcoin and Ethereum Relatively Muted, APE and BTT Rally

Posted: 28 Jun 2022 05:04 AM PDT

After declining below the USD 21,000 level, BTC stayed above the USD 20,500 support zone and managed to surpass USD 21,000 again. It is currently (11:47 UTC) trading in a range near USD 21,000 and is down almost 2% in a day and up 2% in a week.
Similarly, most major altcoins are stuck above key supports. ETH is back above USD 1,200 but faces hurdles near USD 1,250. XRP is now trading just below the USD 0.35 pivot level. ADA is still at a risk of more losses unless it reclaims USD 0.50....
Read More: Bitcoin and Ethereum Relatively Muted, APE and BTT Rally

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Tether is Fully Backed, Has ‘Never Failed a Redemption,’ CTO Tells Short Sellers

Posted: 28 Jun 2022 04:03 AM PDT

Hedge funds that are attempting to make money by shorting the stablecoin tether (USDT) believe in the anti-tether 'FUD' (fear, uncertainty, and doubt) that is being spread, despite efforts to increase transparency, Tether chief technology officer Paolo Ardoino has said....
Read More: Tether is Fully Backed, Has 'Never Failed a Redemption,' CTO Tells Short Sellers

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Regulatory Fog Remains as SEC Chief Doesn't Mention Ethereum as a Commodity, Does Not Say Bitcoin is the Only One Either

Posted: 28 Jun 2022 02:36 AM PDT

Ethereum (ETH) advocates have reacted after the United States Securities and Exchange Commission (SEC) Chairman Gary Gensler refrained from labeling the coin a commodity – and instead chose to name bitcoin (BTC) among the tokens the SEC chiefs before him deemed a non-security. He, however, contrary to many reports, did not single out bitcoin as 'the only' commodity. 
In an interview with CNBC's Jim Cramer, Gensler stated:...
Read More: Regulatory Fog Remains as SEC Chief Doesn't Mention Ethereum as a Commodity, Does Not Say Bitcoin is the Only One Either

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CoinFLEX's USD 47M Recovery Token Plan Questioned by Crypto Observers

Posted: 28 Jun 2022 01:22 AM PDT

Crypto derivatives exchange and yield platform CoinFLEX aims to turn the debt of a "high integrity" individual into a token called Recovery Value USD (rvUSD) in order to fund other customers' withdrawals. Not everyone is impressed with these plans. 
The exchange will issue rvUSD 47m at a price of USDC 1 per coin, cumulatively raising USD 47m....
Read More: CoinFLEX's USD 47M Recovery Token Plan Questioned by Crypto Observers

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