News

After a long month of generous bailouts, crypto exchange FTX now eyes fresh funding at a flat valuation. As reported by Bloomberg, individuals familiar the matter say FTX and FTX US are both fundraising. They each chose to remain anonymous as they aren’t authorized to discuss the matter. The firm is targeting a round that is roughly equal to its $32 billion valuation from January, following its $400 million raise in January. FTX US also raised $400 million at the…

Polygon – a top platform for Ethereum scaling and infrastructure – has announced the launch of Polygon zkEVM. The program will allow Ethereum to scale to global use such that transactions can be settled instantly and nearly for free. . The Holy Grail of Scaling In an interview with CoinDesk, Polygon co-founder Mihailo Bjelic described zkEVM as the “holy grail” and “missing component” concerning Ethereum’s mass adoption. It combines three critical features: Ethereum compatibility, security, and scalability. The first feature…

Thai crypto exchange Zipmex has indefinitely suspended withdrawals; the exchange tweeted on July 20. According to Zipmex, this pause is due to “a combination of circumstances beyond our control.” Specifically, the exchange mentioned volatile market conditions, which it claims have caused some of its key business partners financial difficulties. According to the tweet, Zipmex decided to suspend withdrawals to maintain its platform’s integrity. [embed]https://twitter.com/zipmex/status/1549699440302166016[/embed] This news comes after Cointelegraph reported that the exchange might be facing financial difficulties. The crypto…

Twitter scammers compromised the account of NFT influencer Zeneca on July 19. The hackers also compromised Zeneca’s Discord account. After hacking the accounts, the bad actors shared a link to a fake airdrop of the Zen Academy Founders Pass. Reportedly, the hackers tricked unwitting NFT collectors into connecting their wallets to a phishing site. One of the tweets read: Hey everyone wanted to do something special for the community so here I go! I would like to announce the official…

A Q2 2022 survey from the Bitcoin Mining Council (BMC) has estimated that Bitcoin’s energy mix is 59.5% sustainable. That’s the fifth consecutive quarter for which the global Bitcoin mining industry has been recognized as over 50% green. The Report As detailed in a press release on Tuesday, BMC’s data includes voluntary survey results from 45 mining companies across 5 continents. Together, they represent 107.7 exahash (EH) – roughly 50.5% of Bitcoin's total hash rate. ‘Hash rate’ refers to the…

Singapore's leading fiscal authority, MAS has denied licensing a handful of recently collapsed crypto firms often linked to the nation. MAS Clears Regulatory Misconceptions TerraForm Labs, Luna Foundation Guard, Vauld, and Three Arrows Capital are among the platforms in question here. Of late, these firms have all experienced significant turbulence due to the ongoing market volatility as well as other issues. Another thing they have in common is ties to the Southeast Asian country Singapore, as the media often touts…

American billionaire investor Mike Novogratz has acknowledged that he was wrong about the size of leverage in the crypto space. During the Bloomberg Crypto Summit on July 19, Novogratz said the recent crypto crash is a full-fledged credit crisis. He added that this crisis has hurt confidence in crypto. [embed]https://www.youtube.com/watch?v=DtFucHueMG8[/embed] Novogratz, who currently serves as the founder and CEO of Galaxy Digital, said: What I don’t think people expected was the magnitude of losses that would show up in professional…

After positioning itself as a crypto hub with its virtual asset law, Dubai is now eyeing the metaverse. Dubai’s Crown Prince, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, announced this news through a tweet on July 18. His tweet read: [embed]https://twitter.com/HamdanMohammed/status/1548987283310878722[/embed]   Under its metaverse strategy, Dubai plans to become the leading metaverse destination in the MENA region. On the global scene, Dubai seeks to become a top 10 metaverse economy. Additionally, the emirate plans to quintuple the number…

Leading crypto exchange Coinbase has secured a crypto asset service provider license in Italy. The company announced this news through a blog post on July 18. This license will allow the exchange to offer Italians crypto services in a regulated environment. According to the blog post, Coinbase moved to secure the license after Organismo Agenti e Mediatori (OAM) said it would implement new requirements for crypto service providers. Among the new requirements for crypto service providers is securing regulatory approval.…