Category: Cryptocurrency

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Report Claims Visa and Mastercard Plan to Pause New Partnerships, Visa’s Head of Crypto Insists ‘Story Is Inaccurate’

February 28, 2023

According to a recent report from sources familiar with the matter, Mastercard and Visa, the credit card and payment services giants, are halting new partnerships with cryptocurrency firms. This news comes after the collapse of several cryptocurrency ventures that offered crypto debit cards and failed due to financial difficulties last year. After the report published,…
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Bitcoin’s Blockchain Growth Accelerates With Trend of Ordinal Inscriptions

February 28, 2023

The Bitcoin blockchain has 40.49 gigabytes (GB) to go until it reaches half a terabyte (TB), and with the recent trend of Ordinal inscriptions, it’s likely to get there faster. The average block size reached a high of 2.52 megabytes (MB) on Feb. 12, 2023, but block sizes have subsided and dropped to an average…
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Crypto Neobank Wallbit Leaves Venezuela Due to Sanctions

February 28, 2023

Wallbit, a crypto-enabled neobank, announced it would stop serving users in Venezuela after its banking partner in the U.S. called on it to do so. The platform announced this move was the direct result of the economic sanctions that the country is currently facing, and that Venezuelans outside the country would continue to be served.…
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Solana Faces Renewed Criticism After 10th Downtime and Bumpy Restart, but Developers Remain Optimistic

February 28, 2023

Following the initial incident on Feb. 25, Solana resolved the blockchain’s performance degradation after validators decided to restart the network. According to an outage report following more than 24 hours of downtime, Solana developers detailed that the “root cause is still unknown and under active investigation.” Social Media Mocks Solana’s 10th Downtime, Supporters Defend Project…
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Bitcoin-Based NFTs Cross 200,000 Ordinal Inscriptions, Yuga Labs Launches Twelvefold Collection

February 28, 2023

On Monday, Feb. 27, 2023, the number of Ordinal inscriptions on the Bitcoin blockchain crossed 200,000 at 1:02 p.m. Eastern Time. In addition to the 200,000 inscriptions, Yuga Labs, creators of the Bored Ape Yacht Club (BAYC) non-fungible tokens (NFTs), revealed that the team had created a collection of 300 generative ordinal NFTs called Twelvefold.…
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Btcpay Introduces New Coinjoin Plugin for Enhanced Bitcoin Privacy for Merchants

February 28, 2023

On Monday, Wasabi Wallet and the open-source bitcoin payment processor Btcpay announced a new plugin for the Btcpay server. The plugin implements Wasabi’s Wabisabi coinjoin coordination protocol, allowing merchants to benefit from privacy enhancement. By activating the newly launched plugin, all the funds that merchants receive and send will be coinjoined, or mixed together with…
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Mawson Infrastructure Group Launches Bitcoin Mining Operation in Pennsylvania, Exits Australia

February 27, 2023

The bitcoin mining operation, Mawson Infrastructure Group, Inc., announced that the firm has broken ground at a new site in Sharon, Pennsylvania. Reports detail that Mawson has delivered six modular production units capable of housing 3,528 application-specific integrated circuit (ASIC) bitcoin miners, or approximately 12 megawatts (MW) of capacity. The new Mawson site is capable…
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Russian Darknet Markets, Ransomware Groups Thrive Despite Sanctions, Report

February 27, 2023

Russian marketplaces on the dark web have continued to operate despite Western sanctions and efforts to shut them down, according to a report accessing the illicit blockchain space amid the world’s “first crypto war.” Ransomware actors and high-risk crypto exchanges have also remained active. Underground Russian Crypto Platforms Adapting to Disruptions Caused by Ukraine War…
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Rap Star Drake Loses $400,000 Bitcoin Bet on Jake Paul in Split-Decision Loss to Tommy Fury

February 27, 2023

The Canadian rapper and singer Drake lost $400,000 in bitcoin after betting that the YouTuber-turned-boxer Jake Paul would beat Tommy Fury by knockout. Drake could have potentially raked in a $1.44 million bitcoin payout, but Fury won the fight in a split-decision victory. Drake Loses $400K Bitcoin Bet on Jake Paul’s Bout On Feb. 26,…
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Reports Indicate USDT Is Being Used in Venezuela to Facilitate Settlements and to Avoid Sanctions

February 27, 2023

Some companies in Venezuela are using the stablecoin tether as a way of sidestepping sanctions and settling payments with foreign customers and providers. Local reports indicate that, while the most popular use case for the stablecoin involves its purchase for devaluation shielding purposes, a handful of companies are also harnessing it in this way. Companies…
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