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Binance Continues To Increase Its Influence, Secures Key License

admin2022-08-19T14:10:22+00:00

The US arm of the crypto exchange Binance, Binance US, has announced that it has received the Money Transmitter License in Nevada. Nevada becomes the seventh state to grant the license to Binance US.  West Virginia, Connecticut, Wyoming, Rhode Island, Idaho, and Puerto Rico have all granted this license to the company. This license was granted to Binance US by the Financial Institutions Division of the Nevada Department of Business.

Why This Is A Key License

Money Transmitter Licenses are required for every...

Terra Was “a Massive Failure in Risk Assessment”: Do Kwon

admin2022-08-19T13:53:22+00:00

Key Takeaways

Do Kwon has admitted that Terra was "a massive failure in terms of risk assessment" in a Coinage interview. The Terraform Labs CEO said that he had failed to account for the possibility that Terra's UST stablecoin would not work. Kwon also said that he didn't blame Terra's collapse on the UST sellers that triggered the network's death spiral.

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The Terraform Labs CEO has admitted that he “should have known the risks of UST much better.” 

Do...

Tether Announces New Deal For Auditing: Good Or Bad For Crypto?

admin2022-08-18T13:48:19+00:00

After much discussion about its plans to disclosing information about Tether’s reserves, the team has on Thursday revealed new plans. In a shift in assurance and attestation process, the company announced it is working with a top public accounting firm. The company will now bring out monthly reports on financial reserves behind the stablecoin. Stressing on providing transparency and accountability, the company is moving on from the quarterly reporting process. Describing the new partnership as a significant update to its...

Tether Hires New Top Five Accounting Firm for Reserve Attestations

admin2022-08-18T13:18:56+00:00

Key Takeaways

Tether announced today that it had employed the top five global accounting firm, Binder Dijker Otte, for its attestation reports. The stablecoin issuer also said it plans to publish attestations monthly instead of quarterly as it has done so far. The partnership with BDO is supposed to represent the firm's "next step" toward a complete audit.

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Tether said that it would also begin releasing attestations on a monthly instead of a quarterly basis.

Tether Boasts New Accounting Firm Partnership

Tether’s attestations...

Staying Safe in Crypto: Tips and Practices To Protect Your Stack

admin2022-08-18T04:56:07+00:00

Key Takeaways

With the increasing popularity and adoption of cryptocurrency and NFTs, hackers are finding new and improved ways to steal your valuable assets. Taking your crypto security seriously is crucial to not getting hacked. All crypto users should adopt strong security habits to keep their tokens safe. Phemex, one of the industry’s leading exchanges, applies a high level of security to protect users’ assets.

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Far too often we hear stories of people losing their crypto to hacks, phishing attempts...

What are the reasons behind Dogecoin’s [DOGE] 23% jump

admin2022-08-18T02:30:39+00:00

The highest ranked meme coin, Dogecoin [DOGE], is expected to attempt a resurgence after the rise of Shiba Inu [SHIB] recently. As it has been widely covered, Shiba Inu has been gaining value rapidly in the past week. This has ascertained pressure on the rival Dogecoin as the dog-themed tokens lock horn in the crypto […] Source link

Fed Governor Touts FedNow as Alternative to CBDC

admin2022-08-17T22:06:15+00:00

Key Takeaways

Governor Michelle Bowman said today that the Federal Reserve's FedNow service could be ready by mid-2023. She suggested that the payments service addresses the need for a central bank digital currency (CDBC). She also said that the Federal Reserve is creating expectations for banks that want to provide crypto services.

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The U.S. Federal Reserve is considering a payment system that could reduce the need for a central bank digital currency (CDBC).

Federal Reserve Touts FedNow Benefits

A service called FedNow could...

Former Navy SEAL and Author Willard Chesney Joins CBS SEAL Team Actor Justin Melnick With NFT Collection Release On The ReserveBlock RBX Network Proceeds To Benefit The Boot Campaign

admin2022-08-17T19:18:35+00:00

Miami, United States, 16th August, 2022, Chainwire Former Navy SEAL Operator and Author Willard Chesney, the dog handler on the historic raid on the Osama Bin Laden compound, along with Justin Melnick, who plays Navy SEAL dog handler ‘Brock Reynolds’ on the CBS hit television series SEAL TEAM,...

Why $0.07 Breakout Could Trigger A 55% Rally In GALA Price?

admin2022-08-17T18:57:55+00:00

Published 3 hours ago The GALA/USDT chart shows the formation of a rounding bottom pattern in the daily time frame chart. The coin price is currently at the midline stage of this pattern called the accumulation phase. Amid the recent recovery in the crypto market, the GALA price bounced back from the bottom support of $0.0475-$0.0448 on July 26th. Thus, the bullish reversal drove the prices 54.8% higher, where it formed a local top at $0.0705.

Key points from GALA...