Archive for  April 2022

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Cryptocurrency exchange Binance announced the parallel launch of three key educational initiatives aimed at accelerating the education of Indian investors and students in the cryptocurrency and blockchain ecosystem.
Binance stressed that Indian regulators and policymakers have cited a lack of education as a problem that currently hinders widespread adoption of cryptocurrencies.
One of three education initiatives launched by Binance targets the student demographic in India and aims to create a platform for college students to find solutions to make cryptocurrency more accessible and inclusive.
Binance has also begun partnering with Indian opinion leaders to host a free webinar called “Cryptocurrency for All.”
The exchange also intends to launch an educational program that gives users the opportunity to earn cryptocurrency by learning about digital assets and the blockchain ecosystem.

Rari Capital’s DeFi platform was hacked, causing attackers to steal $80 million worth of crypto assets.
According to analyst firm BlockSec, the exploit occurred because of a re-entry vulnerability in the protocol’s smart contract.
Among those who lost funds was the Fei Protocol development team, which runs the decentralized Fei USD steblecoin.

The developers of Fei Protocol admitted that the funds had been stolen and asked the hacker to return the assets in exchange for a $10 million reward.

The bitcoin network’s mining complexity updated its highs from 28,587 (T) to 29,794 (T) for the second time this month.
The increasing complexity of bitcoin mining requires more processing power to create a block, which in turn positively affects the security of the network, making the asset resistant to various attacks.
Bitcoin’s average hash rate also continues to rise. At the moment it reached a maximum of 223 EH/s.

Lawmakers in Panama’s National Assembly have approved a bill regulating the use and commercialization of cryptoassets in the country.
The bill opens the door to private and public use of cryptoassets and would allow people to pay taxes with cryptocurrencies.
“Now I can go out and pay a vendor for something. And if he wants to accept cryptocurrency – it’s allowed, it’s legal. Until now, there has been no such thing in Panama,” said Congressman Gabriel Silva.
The bill deals with the trading and use of cryptoassets, the issuance of digital securities, new payment systems and tokenization of precious metals.
Under the new legislation, Panamanians can use cryptoassets as a means of payment for any civil or commercial transaction not prohibited by law in the country.

The Swiss National Bank (SNB) is not currently interested in holding bitcoin, but may quickly add it to its reserves at some point. This was announced by the bank’s chairman, Thomas Jordan.
“Buying bitcoin is not a problem for us, we can either do it directly or buy bitcoin-based investment products. We can negotiate technical and operational terms relatively quickly when we are sure we should have bitcoin on our balance sheet. Right now, we don’t think bitcoin qualifies for currency reserves,” he said.
The bank’s reserves as of Dec. 31, 2021, were just over 1 trillion Swiss francs ($1.03 trillion), according to an annual report released in March.

Yuga Labs has abandoned the idea of a Dutch NFT auction for its Otherside metaconsecurity.
“Dutch auctions are really bullshit, so Otherdeeds will be sold at a fixed price of 305 Apecoin,” the project’s official Twitter account said.
The project’s launch has also been pushed back to April 31.
The company said it will sell only 55,000 Otherdeeds. In order to purchase the tokens, users need to go through KYC verification. One address will only be able to purchase 2 NFTs.

Belgian providers of cryptocurrency exchanges must register with the regulator if they plan to start operations after May 1.
Those already operating have until June to notify the regulator under a law passed in February that also applies to custodial cryptocurrency wallet providers.

The move is taken to comply with a European Union law known as the Fifth Anti-Money Laundering Directive, designed to ensure that wallet providers report suspicious activity.
Failure to do so could result in a year in prison or a fine of 10,000 euros ($10,500).

The volume of funds in the Ethereum 2.0 deposit contract has reached a balance of 12 million ETH.
The total blocked value of ETH in the contract is about $34.5 billion.
The deposit contract was launched in November 2020 and currently holds 10% of Ethereum’s market supply.

Indian company Flipkart, majority-owned by the world’s largest retailer Walmart, plans to enter the web3 industry with its new innovation division, Flipkart Labs.
Flipkart said that this year the innovation division plans to explore commerce in the web3 and meta-universe, including NFT, virtual immersive stores and Play-To-Earn games.
“We are in the early stages of a paradigm shift from Web 2.0 to Web 3.0 and this evolution of the Internet, based on the concepts of decentralization, openness and greater utility for users, is impacting many areas, including e-commerce,” said Naren Ravula, vice president of Flipkart Labs.
Flipkart also plans to team up with other brands and merchants, as well as startups developing web3 technology.
Walmart acquired 77% of Flipkart for $16 billion in 2018.

Binance has blocked the cryptocurrency accounts of relatives of Kremlin officials.
Polina Kovaleva, stepdaughter of Russian Foreign Minister Sergey Lavrov; Elizaveta Peskova, daughter of President Vladimir Putin’s press secretary Dmitry Peskov; Kirill Malofeev, son of tycoon Konstantin Malofeev, who is under OFAC sanctions and, according to the media, linked to the WEX bitcoin theft.
They will not be able to use their accounts to sell, purchase or transfer cryptoassets.
Earlier, the exchange introduced restrictions for the accounts of Russian users, the value of the assets of which exceed 10,000 euros.