Category: Cryptocurrency

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‘Islamic Coin’s Legitimacy as a Sharia-Compliant Cryptocurrency Is Proven by Its Fatwa’ — Co-Founder

September 10, 2023

According to Mohammed AlKaff AlHashmi, the co-founder of “Islamic Coin,” Muslim scholars will increasingly view cryptocurrencies as being “Shariah-compliant” if they function as a store of value or are used as a medium of exchange. Alhashmi added that Islam’s “robust” ethical framework already “accommodates modern technological advancements such as the blockchain and cryptocurrencies.” This, he…
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What Are Stablecoins? A Simple Explanation of the Digital Asset Bridging Crypto and Fiat

September 10, 2023

Stablecoins occupy a unique space within the realm of finance, straddling the worlds of traditional and cryptocurrency finance. These digital assets aim to achieve price stability by tethering their market value to external references such as fiat money. Stablecoins blend the characteristics of cryptocurrencies with the stability of traditional assets like the U.S. dollar or…
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JPMorgan Mulls Blockchain-Based Deposit Token, Report

September 10, 2023

America’s biggest bank by assets, JPMorgan Chase, is exploring a blockchain-based deposit token for cross-border payments and interbank transfers. If approved by regulators, the banking giant may create the digital asset, which would be different from its existing JPM Coin as it could be used to send money to accounts in other banks. JPMorgan Considers…
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Biggest Movers: DOGE Moves Away From Support Level, XLM Nears 1-Month High

September 9, 2023

Dogecoin moved away from a key price floor on Saturday, as the meme coin ended a three-day winless run. Price has traded in the red since Wednesday, leading to a collision with a support point of $0.0620. Stellar also rallied, nearing a one-month high in the process. Dogecoin (DOGE) Dogecoin (DOGE) snapped a three-day losing…
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Fourth Consecutive Week of Decline: NFT Sales Dip 6.75% 

September 9, 2023

Non-fungible token (NFT) sales took yet another dip this week, marking the fourth consecutive week of decline, albeit a slight one, with a decrease of 6.75%. From September 2, 2023, to September 9, the total sales for this week amounted to approximately $80.69 million, with a notable chunk of $42.61 million originating from the Ethereum…
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Bitcoin, Ethereum Technical Analysis: Price Movement in BTC, ETH Stalls to Start the Weekend

September 9, 2023

Bitcoin consolidated for yet another week, as price entered Saturday around the same point at which it stood on Monday. Despite a brief rally on Thursday, which saw the price move above $28,000, the cryptocurrency has largely been unchanged. Bitcoin Bitcoin started the weekend trading close to the $26,000 level, as bulls attempted to break…
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Best Crypto to Buy Now September 8 – Rollbit, Radix, Aave

September 9, 2023

A standout story in today’s crypto news reports hails from Turkey, where the former CEO of the now-folded Turkish cryptocurrency exchange Thodex has been sentenced to over 11,000 years in jail. Faruk Fatih Özer, who founded Thodex in 2019, received a staggering 11,196-year sentence along with his two siblings and a $5 million fine. In…
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Bitcoin, Ethereum Technical Analysis: Volatility Returns to BTC, ETH During Friday’s Session

September 9, 2023

After price climbing above the $26,000 level earlier in the day, bitcoin bulls have retreated from earlier positions, sending prices lower in the process. The decline comes after price collided with a key resistance point. Ethereum has also slipped, after moving closer to $1,700. Bitcoin Volatility was back in cryptocurrency markets on Friday, as…
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Binance Boss Counters ‘FUD’ Amidst Legal Challenges, Touts Company’s Resilience and Low Turnover

September 9, 2023

Binance has faced a series of negative news reports in recent weeks. However, the cryptocurrency exchange’s leader, Changpeng Zhao, known as CZ, used social media to assure the community that the reports were just fear, uncertainty, and doubt (FUD). Despite the departure of some top executives, CZ said Binance likely has “the lowest founding team…
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Ripple Acquires Crypto Financial Services Company Fortress Trust 

September 8, 2023

Ripple, a leading blockchain and cryptocurrency company, has acquired Fortress Trust, a Nevada-licensed financial services provider for the crypto industry. The purchase expands Ripple’s regulatory licenses and infrastructure to bolster its position in enterprise blockchain solutions. Ripple Acquires Fortress Trust The acquisition provides Ripple with Fortress Trust’s financial, regulatory, and technological infrastructure to serve the…
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