Author: Adewumi Victor

Huobi Obtains License to Operate in the British Virgin Islands, States There Is No Timetable for Expansion Into the United Kingdom Yet

Adewumi Victor

  Huobi’s affiliate Brtuomi Worldwide is one of the first exchanges in the British Overseas Territory to offer compliant crypto derivatives and trading services. In addition, Huobi, a major cryptocurrency exchange, is expanding its worldwide presence by entering the British Virgin Islands, a British Overseas Territory. Huobi stated on Friday that it had obtained an investing company license from the British Virgin Islands Financial Services Commission (FSC). The permission enables Huobi to run a virtual asset exchange through its subsidiary Brtuomi Worldwide Limited (BWL). BWL intends to provide various crypto…

Starbucks Announces New NFT Utility For Coffee Members

Adewumi Victor

Starbucks The nonfungible tokens, or NFTs, are created on Polygon’s proof-of-stake blockchain. Starbucks said on Monday that its U.S. members would be able to earn and purchase digital collectible stamps in the form of nonfungible tokens, or NFTs. Each collectible digital stamp, dubbed “Starbucks Odyssey,” will have its ownership validated on the blockchain and will carry a point value depending on its rarity. Members’ points will rise as they collect more stamps, giving them access to exclusive activities. Starbucks claims the incentives range from a virtual espresso martini-making workshop to…

Crypto App Targeting Malware, Sharkbot Resurfaces On Google App Store

Adewumi Victor

The SharkBot malware family was discovered in October last year and has since evolved with new ways to hack into users’ Android-based crypto and bank apps. In addition, a freshly improved version of malware-targeting banking and crypto software has just emerged on the Google Play market, now with the ability to collect cookies from account logins and circumvent biometric or authentication constraints. On Friday, malware analyst Alberto Segura and treatment intelligence analyst Mike Stokkel warned about the most recent version of the virus on their Twitter accounts, along with a…

Crypto.com Mistakenly Sent $10.5 Million to Client Instead of a $100 Refund

Adewumi Victor

Crypto.com According to 7News, two Melbourne women, Manivel Thevamanogari and her sister Gangadory Thevamanogari got a AUD$10.5 million deposit from Singaporean cryptocurrency exchange Crypto.com after the latter made an error in giving a AUD$100 refund. An employee reportedly inserted an account number in the payment box instead of the return amount, resulting in an incorrect transfer to their bank account. According to court filings, the beneficiary utilized a portion of the monies to purchase a lavish property shortly after receiving them. The event happened in May 2021 but was not…

OpenSea Turns Into NFT Ghost-Town After Volume Downs 99% In 3 Months

Adewumi Victor

A continuing debt issue at lending platform BendDAO raises the prospect of the NFT bubble imploding. As concerns about a potential market bubble mount, daily volumes on OpenSea, the world’s most significant nonfungible token (NFT) marketplace, have dropped significantly. OpenSea Volume Plummets to Yearly Lows Notably, the marketplace executed about $5 million in NFT transactions on August 28 — roughly 99% less than its record high of $405.75 million on May 1. The precipitous decreases in daily quantities coincided with equally sharp drops in OpenSea users and transactions, implying that…

Founder Of Polygon, Sandeep Nailwal, Raises $50M For Web3 Fund

Adewumi Victor

Polygon Founder Symbolic Capital is the newest venture company to strongly emphasize Web3, gaming, and NFTs. Sandeep Nailwal, the creator of Polygon and a cryptocurrency entrepreneur, has collected $50 million for a new startup fund targeted at Web3 firms, highlighting venture capital’s rising interest in the blockchain-powered internet. According to the business, Nailwal’s venture firm, Symbolic Capital, is supported by bitcoin protocols, exchanges, crypto-focused auditing companies, and other venture capital investors. Symbolic has invested in three blockchain-focused gaming startups: BlinkMoon, Planet Mojo, and Community Gaming. These businesses’ original investment has…

Gamestop NFT Daily Fee Income Falls Below $4,000 As Market Meltdown Spreads

Adewumi Victor

GameStop NFT has produced over $166,800 in sales volume in the last 24 hours; yet, with the platform collecting only a 2.25% charge on NFT purchases, the statistic corresponds to only $3,753 in income. Daily income for GameStop’s nonfungible token (NFT) marketplace has dropped to less than $4,000, indicating that interest in the platform has decreased dramatically since its introduction in mid-July. At the time of writing, the HyperViciouZ project on GameStop has the highest 24-hour sales volume of 29.78 Ether (ETH), valued at around $47,841. Pudgy Penguins, OpenSea’s top-selling…

South African Reserve Bank Supports Friendly Crypto Operations

Adewumi Victor

According to the banking regulator, minimizing risk by disconnecting crypto-related consumers may represent a “threat” to financial integrity. The Reserve Bank of South Africa’s Prudential Authority advised its subsidiaries to avoid illegal activity, asking banks not to terminate all links with bitcoin. It implied that such an act might pose a higher risk in the long term. Prudential Authority CEO Fundi Tshazibana signed the formal notification. Certain South African banks have already severed links with crypto asset service providers (CASPs), as referred to in the letter, due to unclear laws…

Binance Receives Approval In-Principle to Operate in Kazakhstan

Adewumi Victor

The biggest cryptocurrency exchange has received a regulatory license to operate as a digital asset service provider in France, Bahrain, Spain, and Dubai since 2022. The Astana Financial Services Authority, or AFSA, an independent financial services regulator in Kazakhstan, has allowed the country’s largest cryptocurrency exchange, Binance, to operate. AFSA announced Monday that it had granted Binance in-principle authorization to operate as a digital asset trading facility and provide custody services in the Astana International Financial Centre, a financial hub in Nur-capital Sultan’s city. Binance stated in a Monday blog…

Portuguese Banks Begin Closing Of Crypto Accounts, Cites Risk Management Issues

Adewumi Victor

All exchanges that have had their accounts terminated, including Criptoloja, Mind The Coin, and Luso Digital Assets, have been licensed by the Bank of Portugal. Several prominent banks in Portugal are shutting bitcoin exchange accounts due to “risk management” concerns, indicating a reversal in Portugal’s pro-crypto stance. Portugal’s central bank seems to have given the financial institutions permission to act. Several of Portugal’s leading banks recently canceled the accounts of CriptoLoja, the country’s first licensed cryptocurrency exchange. According to Bloomberg, BCP (Banco Comercial Portugues), Santander Bank, Caixa Geral de Depósitos,…