As per the reports, the utilization of Bitcoin and other cryptocurrencies for transactions is now prohibited in Bali, Indonesia. Bank Indonesia, the central bank of the nation, had already restricted the use of cryptocurrencies as a payment mechanism in 2021. The objective of the prohibition on Bitcoin payments in Bali is to discourage tourists from utilizing virtual currency to buy …
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Temasek, a wealth management firm based in Singapore has cut the salary of the staff who were involved in its FTX investment. Temasek had invested $275 million in FTX which they wrote off. After an internal review was conducted by the team at Temasek, they found out that the employees were not involved in any kind of misconduct. Temasek said …
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Ubisoft, a renowned name in the gaming world has launched Rabbids theme NFTs into Reddit to offer personalization of profils to users. These alien looking rabbit creatures were first launched in the mid 2000s and have also been featured in Nintendo’s Mario franchise. Now they are available to Reddit users which are acquirable as Polygon NFTs. These collectibles on Polygon …
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BlockFi, a platform that lends cryptocurrency, has been directed by the court to transfer funds related to a $575 million fraud. The court-appointed prosecutor, who filed a complaint against BlockFi in March, issued the order. The prosecutor alleged that BlockFi’s platform was used to transfer and hide funds in the fraudulent scheme. About the Accusations According to the accusation, individuals …
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Coinbase, the leading cryptocurrency exchange in the US, has launched a TV ad campaign to clarify the importance of cryptocurrency to the country. According to Brian Armstrong, the CEO of Coinbase, the campaign, named “Crypto: Moving America Forward,” aims to explain why cryptocurrency is the top technology for upgrading the economic system of America. The advertising campaign includes television advertisements, …
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In a recent article, Vitalik Buterin, one of the co-founders of Ethereum, has warned against overloading the Ethereum consensus mechanism. He stressed the significance of preserving Ethereum’s simplistic approach to consensus and avoiding adding unnecessary responsibilities for validators. Buterin has highlighted the potential risks of leveraging the Ethereum validator set and social consensus for anything other than the core Ethereum …
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As reported by Nansen recently, Ethereum gas fees in NFT marketplaces have observed a significant reduction, steering the cryptocurrency ecosystem out of an impending gas crisis. A noteworthy point to consider is the substantial drop in Ethereum gas usage by NFTs, which now only account for a minor 3% of the total gas consumption. Uniswap Takes Lead in Gas Consumption …
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Recent research spearheaded by Uniswap Labs has spotlighted the complexity of decentralized finance (DeFi) as a significant barrier to the involvement of retail cryptocurrency enthusiasts. Based on the responses from 1,860 U.S. retail users, the study highlighted the intricate and often confusing aspects of DeFi, which discourage users from engaging with on-chain services like Uniswap. Survey Unveils Deterring Factors for …
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Apple’s soon-to-be-released mixed-reality headset is anticipated to have a significant impact on the metaverse and its associated tokens. According to a report from Apple’s product analyst, Mark Gurhman, the tech giant’s latest headset is set to hit the market on June 5, marking its first major product launch since the debut of the Apple Watch in 2015. The Metaverse Realm …
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Two citizens of Mumbai, India, fell victim to cryptocurrency fraud, losing a total of 19 lakhs to cyber fraudsters. The victims, a doctor and a homemaker were approached by the accused, who convinced them to invest in cryptocurrency. The doctor was defrauded of Rs 6.23 lakh, while the homemaker lost Rs 13.10 lakh. Homemaker Duped via WhatsApp Group According to …
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