Cointelegraph By Helen Partz
Hong Kong-based asset manager Babel Finance is the latest cryptocurrency lending firm experiencing some serious issues amid the ongoing market downturn.Babel Finance officially announced Friday a temporary suspension of redemptions and withdrawals from its products, citing “unusual liquidity pressures.”“Recently, the crypto market has seen major fluctuations, and some...
Tether (USDT), the biggest stablecoin and the third-largest digital currency by market capitalization continues losing its market value amid the current market downturn.On Thursday, USDT’s market cap dropped below $70 billion for the first time since October 2021. The drop followed a cascade of repeated declines shortly after...
The Russian government continues to establish links with major players in the cryptocurrency mining industry despite staying skeptical about legalizing cryptocurrency trading and payments.Russia’s state-owned gas giant Gazprom Neft has entered into a partnership with BitRiver, the largest crypto-mining colocation services supplier in Russia providing hosting services for...
Russia’s central bank governor Elvira Nabiullina is the latest official to confirm that the country is warming to the idea of cryptocurrency payments, but not domestic ones.According to Nabiullina, cryptocurrencies can be used in cross-border or international payments only if they don’t get into Russia’s domestic financial system.The...
Russian banking giant Sber — formerly known as Sberbank — is preparing to soon complete its first digital currency deal involving the bank’s proprietary digital asset platform.The bank will conduct its first transaction involving digital financial assets (DFA) on its digital asset issuance platform by mid-July.Anatoly Popov, deputy...
Hardware cryptocurrency wallets are known for granting users full control of their crypto and providing more security, but such wallets are prone to risks such as theft, destruction or loss.Does that mean that all your Bitcoin (BTC) is lost forever if your hardware wallet is lost, burned or stolen?...
Major cryptocurrency wallet provider Exodus continues paying its employees in Bitcoin (BTC) despite the ongoing bear market, with the total market cap dropping below $1 trillion on Monday.Since launching its software crypto wallet back in 2015, Exodus has been paying its staff 100% in BTC, Exodus co-founder and...
Solana-based move-to-earn application Stepn has reported multiple denial-of-service (DDoS) attacks in the aftermath of the platform proceeding with a major anti-cheating upgrade.Stepn took to Twitter on June 5 to report that the platform has suffered a number of DDoS attacks causing recovery maintenance and associated improper performance.1/2We have...
Japan is moving forward with legislation regarding the issuance of stablecoins i.e. digital assets with their value pegged to fiat currencies or stabilized by an algorithm. On June 3, Japan’s parliament passed a bill to ban stablecoin issuance by non-banking institutions, local news agency Nikkei reported. The bill reportedly stipulates...
Gemini, a cryptocurrency trading platform founded by brothers Cameron and Tyler Winklevoss, is the latest industry firm to lay off a significant part of its staff due to unfavorable market conditions.Winklevoss’ crypto business Gemini Trust reportedly cut 10% of its employees amid the ongoing bear crypto market, the...
