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Rosbank, one of the leading financial institutions in Russia, is set to become the first major bank in the country to offer cross-border transactions in cryptocurrency. The bank’s collaboration with Russian fintech service B-Crypto will provide customers with a technical solution to participate in these transactions. Rosbank emphasizes that these transactions will comply with the
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Coinbase, a popular cryptocurrency exchange, announced that it will launch Bitcoin and Ethereum futures contracts for institutional investors on June 5. Coinbase will launch these products through its CFTC-regulated Coinbase Derivative Exchange, offering lower fees than other US-regulated derivatives exchanges. The company has collaborated with leading Futures Commission Merchants (FCMs), brokers, and front-end providers to
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The Federal Reserve Board has issued a consent order to Silvergate, a crypto-friendly bank, instructing it to wind down its operations. The company was supervised by the Federal Reserve Bank of San Francisco and California’s Department of Financial Protection and Innovation (DFPI). The order states that Silvergate must submit a shutdown plan to supervising agencies
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On June 1, a proposal to introduce protocol fees for Uniswap decentralized exchange was voted down, according to the proposal’s official webpage. The outcome of the vote meant that liquidity providers (LPs) could continue earning all revenue from swaps. The proposal failed narrowly, with 45.32% of votes going to the “no fee” camp, and 42.34%
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The cryptocurrency market experienced a downturn in May, with Bitcoin (BTC) posting its worst performance since November 2022, dropping 7.37%, and Ethereum (ETH) losing 0.22%. The average loss across the market stands at 5.62% on the last day before the monthly close. However, some outliers posted impressive gains thanks to popular investment narratives and the
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Swiss non-profit organization, the Anoma Foundation, has announced that it has successfully raised $25 million in its third funding round. The round was led by influential blockchain-focused venture capital firm CMCC Global, and the funds raised will be used to further develop Anoma’s intent-centric architecture. Support from Leading Industry Figures During the fundraising phase, the
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Binance, a popular cryptocurrency exchange, recently announced its decision to withdraw from the Canadian market. Changpeng Zhao, the CEO of Binance (also known as CZ), explained that the regulatory requirements in Canada made it unfeasible to continue operating in the country. The exchange cited new regulatory guidance on stablecoins and investor limits as the reasons
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Ben.eth, a previously little-known personality in the cryptocurrency community, has come under the spotlight following the launch of at least three memecoins in recent weeks. Ben.eth has seen his Twitter following grow nearly five-fold in May, and pre-sales of these memecoins, which require Ether (ETH) to be sent directly to the creator himself, have allowed
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El Salvador has made headlines in the cryptocurrency world recently after becoming the first country to adopt Bitcoin as legal tender. In line with this move, President Nayib Bukele has appointed Saifedean Ammous, author of the book “The Bitcoin Standard” and well-known Bitcoin maximalist, as an economic advisor to the National Bitcoin Office of El
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Paxful, a peer-to-peer bitcoin marketplace, has announced the appointment of Roshan Dharia as its interim CEO. In his new role, Dharia will focus on strengthening the company’s operations and exploring strategic alternatives. Dharia expressed his excitement about the opportunity, saying, “It’s a great honor to become CEO of Paxful. I look forward to hitting the
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NVIDIA, the multinational semiconductor and technology company, has reached a market capitalization of over $1 trillion, a value comparable to that of all cryptocurrencies combined. Following the release of strong quarterly earnings results, the company’s stock rose by 6%, reaching a 52-week high. Although share prices have since fallen slightly, the company’s value remains above
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