Cryptocurrency exchange Binance announced Monday that it plans to halt all deposits and withdrawals of Ethereum (ETH) and Wrapped Ethereum (WETH) on selected networks, starting September 6th at 2 am (UTC) in anticipation of Ethereum's Merge event. #Binance will suspend deposits and withdrawals for Ether $ETH and Wrapped Ether $WETH on the following networks starting from September 6, 2022 at 02:00am UTC. ETH (Arbitrum) ETH (OP) WETH (RON) — Binance (@binance) September 5, 2022 In the announcement, the company shared a list of tokens and networks that will be impacted during the Merge — Namely ETH (Arbitrum), ETH (OP) and …

Interest in crypto has been growing since the 2017 bull market and has increased even further since 2021, which saw the nonfungible token (NFT) boom and Bitcoin (BTC) hitting its highest price so far. So, what can a crypto investor tell family and friends who are interested in cryptocurrency? Here are some common and important questions that one can come across regarding crypto and some appropriate responses with opinions from experts in the industry. What is cryptocurrency? One of the most common questions a crypto investor might get asked is what cryptocurrency is in the first place. Cryptocurrency is a …

Sovereign identity has been a hot topic in blockchain and cryptocurrency, especially with the rise of the creator economy. Currently, there are two types of digital identities— federated and centralized whereby data is in the control of the service provider. Self-sovereign digital identity is often cited as a human right that can reclaim agency using blockchain technology, but what frameworks exist that aid in governing it? On Aug. 2, NFT Steez, a bi-weekly Twitter Spaces hosted by Alyssa Expósito and Ray Salmond, met Marjorie Hernandez, the co-founder of LUKSO and The Dematerialized to discuss the state of blockchain-based identities and …

Snap Inc's CEO Evan Speigel announced in a note on Friday that the company had made the difficult decision to reduce the size of its workforce by approximately 20%. The note said that this round of layoffs comes after the company experienced slow revenue growth, a slump in stock prices, and a general lag behind its financial targets. Speigel shared: “Our forward-looking revenue visibility remains limited, and our current year-over-year QTD revenue growth of 8% is well below what we were expecting earlier this year.” Snap Inc. will now undertake the task of restructuring in an attempt to ensure the …

The crypto winter has pumped new life into the adage “Not your keys, not your coins,” particularly after the collapse of some high-profile enterprises like the Celsius Network, whose funds were frozen in June. Just last week, Ledger CEO Pascal Gauthier hammered home the point further, warning: “Don’t trust your coins and your private keys to anyone because you don’t know what they’re going to do with it.” The basic idea behind the adage, familiar to many crypto veterans, is that if you don’t personally hold your private keys (i.e., passwords) in an offline “cold wallet,” then you don’t really …

Carlyle Group co-founder David Rubenstein acknowledged on Sept. 2 that he has invested personally in a number of crypto companies, and is optimistic about the industry’s path to regulation in the United States. Speaking with CNBC'S Squawk Box on Thursday, the billionaire said he believes that government regulation will be positive for the industry, and that the U.S. Congress will tak a collaborative approach to boost an innovation environment in the country. "The crypto constituency is very strong in congress [and] they tend to be very Republican [or] very libertarian," he noted. "The industry is not likely to be soft …

The demand for organizations to adopt blockchain technology is growing rapidly. Recent findings from market research and advisory firm Custom Market Insights found that the global blockchain technology market size was valued at $4.8 billion in 2021, yet this amount is expected to reach $69 billion by 2030. While notable, it’s become critical for the industry to enable rigorous research into the development of the blockchain sector. Tim Harrison, vice president of community and ecosystem at Input Output Global (IOG) — the developer arm behind the Cardano blockchain — told Cointelegraph that during the past year, the blockchain ecosystem has …

On Aug 29, Facebook and Instagram’s parent company Meta announced that its users will now be able to post digital collectibles and Non-Fungible Tokens, or NFTs, across both platforms by simply connecting their digital wallets to either site. We’re introducing the ability to post digital collectibles across @facebook and @instagram. You can now connect your digital wallet to either app to share your #NFTs on both. What NFT are you excited to share? https://t.co/wa2wkWfI7p pic.twitter.com/SlpwAuY02c — Meta Newsroom (@MetaNewsroom) August 29, 2022 While Meta’s announcement may have seemed to some like a mass adoption win for some digital asset enthusiasts, …

Leveraged trading of cryptocurrencies — i.e., trading crypto with borrowed funds — comes with significant risks. This is mainly due to the capricious nature of the market. In May, the cryptocurrency market, which had grown significantly over the past couple of years, recoiled violently following a cascade of negative market events, losing over 50% of its market cap. The pullback, which caused a jarring $2 trillion market wipeout, also exposed some of the market’s biggest weaknesses. One of them was the reckless use of leverage in a market that is historically mercurial. This aspect was recently affirmed by billionaire investor …

Regulators are tasked with balancing between protecting consumers and creating environments where entrepreneurs and the private sector can thrive. When markets face distortions, perhaps due to an externality or information asymmetry, regulation can play an important role. But regulation can also stifle entrepreneurship and business formation, leaving society and its people worse off. The United States Securities and Exchange Commission has been particularly hostile against cryptocurrency companies and entrepreneurs. For example, SEC Chairman Gary Gensler has remarked that he views Bitcoin (BTC) as a commodity but that many other “crypto financial assets have the key attributes of a security.” He …

The Metaverse is quickly becoming one of the most important places for companies and individuals looking to expand their reach. New findings from research firm MarketsandMarkets predict that the Metaverse market size will grow from $61.8 billion in 2022 to $426.9 billion by 2027. In addition, a recent report from Juniper Research links nonfungible token (NFT) growth to metaverse use cases. According to these findings, metaverse-related NFTs will experience an increase from 600,000 transactions in 2022 to 9.8 million by 2027. Given this potential, a number of regions across the globe have started to establish a virtual presence. For example, …

American fast-food chain Taco Bell and Metaverse platform Decentraland are teaming up to offer United States-based couples a chance to get married in the Metaverse. The chain has called for engaged couples to enter a competition to win the brand’s first legally-recognized Metaverse wedding package, with a ceremony and reception to take place in the virtual world of Decentraland. According to Taco Bell, the ceremony and reception will include NFT invitations and custom-designed wedding attire. The couple will be able to bring virtual guests, who can partake in all the traditional wedding day celebrations like musical entertainment, dancing, and eating …