Elon Musk wants Twitter payments system built with crypto in mind

Twitter chief Elon Musk has reportedly instructed his developers to build the platform’s payments system in such a way that crypto functionality can be added in the future. According to a Jan. 30 Financial Times report, two people familiar with Twitter’s plans said that the payments feature will support fiat currencies to start but be built to accommodate cryptocurrencies should the opportunity arise. Twitter has long teased bringing payments to the social media platform — forming part of Musk’s stated plan to make Twitter an “everything app.” Buying Twitter is…

Genesis’ Crypto Trading Arm Is Moving Money Around, a Sign of Normalcy Amid Sibling’s Bankruptcy

A wallet controlled by the Genesis OTC trading desk sent about $125 million of ETH, FTM and USDT to Coinbase, Binance, Bitstamp and Kraken on Thursday, the day of the bankruptcy filing, according to blockchain data compiled by Etherscan. In the past several hours, the wallet has transacted several more times, receiving almost $50 million USDC. Author: Sage D. Young Source link

Three Arrows’ Founders Take Slingshot From Crypto Community

BNB Chain, launched by crypto exchange Binance, has completed the burn of over $500 million worth of its native BNB tokens as part of a broader program, it said Tuesday. Token burn refers to the process of permanent deletion of coins from their circulating supply. More than 100 million BNB, or half of its total supply, are intended to be removed from circulation through a burning process and to eventually keep only 100 million BNB in circulation. BNB was up nominally in the past 24 hours, trading at $300 on…

Bitcoin Retakes $20K, Leading as Broad Crypto Rally Continues

The largest cryptocurrency by market capitalization started the week near the $17,000 mark after hovering in the mid-$16,000 area since mid-December. Now at $20,250, bitcoin has gained more than 20% in the opening two weeks of this year. Still, the crypto – which topped $65,000 in Nov. 2021 – remains near the low end of a brutal bear market. Author: Jocelyn Yang Source link

CoinMarketCap-led token airdrops ‘infected by fraud,’ crypto project claims

Two crypto projects have cried foul play over promotional airdrops conducted by CoinMarketCap (CMC) on their behalf, which they allege was “gamed” for the benefit of a small group of exploiters. These promotional airdrops — designed to be distributed to thousands of wallets to raise awareness of a crypto project — ended with the tokens funneling to just a handful of wallets, suggesting potential manipulation of the system. SATT token drop Blockchain advertising solution SaTT alleged to Cointelegraph that a promotional airdrop it paid CMC to conduct in Dec. 2022…

Crypto Conglomerate DCG Being Investigated by DOJ, SEC: Report

The prosecutors with the DOJ’s Eastern District of New York office have so far requested interviews and documents from DCG and Genesis, the report said, while the SEC appears to be in a similarly early stage of its own inquiry. The report, which cited people familiar with the matter, said that neither Genesis nor DCG, which is also the parent company to CoinDesk, have so far “been accused of wrongdoing.” Author: Nikhilesh De Source link