Aurelia Butler

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    in Cryptocurrency

    PayPal Finally Allows Users to Transfer Crypto to External Wallets

    PayPal Now Supports Crypto TransfersOn Tuesday, June 7th, PayPal, one of the major global payments platforms, announced that it would be supporting native transfer of digital assets between PayPal and external wallets and exchanges.According to SVP and General Manager of Blockchain, Crypto and Digital Currencies at PayPal Jose Fernandez da Ponte, “this feature was the most demanded from our users since we began offering the purchase of crypto on our platform.”As stated in PayPal’s press release, the feature will be made available to select U.S. users starting from Tuesday, and will be rolled out to all eligible U.S. customers “in the coming weeks”.Through the new PayPal feature, individuals will be able to transfer supported crypto with no fees or network charges. Users will, however, be subject for fees when sending crypto to external blockchain networks, though they will also have the option to send crypto to anyone on the PayPal platform.On the FlipsideWhy You Should CareThe integration of crypto into PayPal, one of the world’s biggest payment platforms, is billed to make waves in furthering the adoption of cryptocurrencies.Continue reading on DailyCoin More

  • 100 Shares119 Views

    in Cryptocurrency

    DISH Introduces Decentralized ID And Loyalty Coin System

    According to a recent IOHK report, a decentralized ID and loyalty token system created using Input Output Global (IOG) designed and developed blockchain technology has been put into place by DISH Network Corporation (NASDAQ:DISH). With Atala PRISM and Cardano’s native asset features, DISH’s infrastructure can now use blockchain technology.The culmination of this joint effort is going to be the production of a powerful, completely digital, and decentralized identity and loyalty structure that will first be constructed on the Cardano blockchain.It is a component of the CRONUS project, which is a long-term, creative cooperation between IOG and DISH to make blockchain a central component of the DISH ecosystem as well as its entire consumer strategy moving forward.Furthermore, this groundbreaking minimum viable product (MVP) marks the start of creating a backend token-based loyalty system support by blockchain technology. The first step is to activate the blockchain. DISH will operate nodes, issue DIDs, mint, and burn local assets to join the Cardano Ecosystem. Next, DISH consumers will be exposed to blockchain ecosystems. Including a wallet.This is a huge step in the incorporation of blockchain-enabled systems into the ecosystem of the telecoms industry, and more particularly, toward the development of loyalty programs that are driven by distributed ledgers.DISH has recently made investments in and formed partnerships with two crypto-enabled grassroots wireless networks; Helium and Pollen. These moves are intended to feed the company’s long-term goal of becoming a contender in the market for 5G wireless services.A recent article from The Verge reported that it may soon be possible to pay for an iPhone using cryptocurrency with DISH’s upcoming wireless plan. In addition to that, there is something else that can to do more of with this unlimited plan. According to the article published in the technology newspaper, the platform may also enable users to swap their minutes for NFTs (non-fungible tokens).Continue reading on CoinQuora More

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    in Economy

    StanChart CEO sees shallow and short recession by early 2023

    MUMBAI (Reuters) – Standard Chartered (OTC:SCBFF) Chief Executive Bill Winters expects central banks’ fight against surging inflation, driven by structural cost pressures such as wage growth, to result in a “relatively shallow and short” recession by early next year.”I think central banks have to take this inflation problem head on,” Winters told the Reuters Global Markets Forum (GMF) on Wednesday, adding that a strong financial system supported by underleveraged consumers and corporations will aid a faster recovery compared to the global financial crisis.”We’ve had two real world stress tests in the last couple of years – the pandemic and a major European war,” he said. Standard Chartered continues to grow in China but at a slower pace, as COVID-19 lockdowns stifled its expansion, Winters said on the sidelines of Temasek’s annual Ecosperity sustainability conference in Singapore. Comparing Singapore’s quick return to pre-pandemic norms, Winters said he expected the bank to return to “good solid growth in China and Hong Kong” once restrictions on travel and consumer activities were relaxed.Winters described the job market as extremely competitive and said wages were also on the rise. With the bank’s headcount near 2019-levels, there was no “belt tightening” in prospect, he said. That is in contrast to Switzerland’s Credit Suisse, which said it would accelerate cost cuts to offset a likely Q2 loss.”Given the very hot job market, we don’t think we’re going to need to lay off any meaningful number of people,” Winters said.Winters is positive on StanChart’s financial markets, payments and cash management businesses which he said will be driven by robust trade within Asia, Middle East and Africa.He was also positive on emerging markets, particularly in Asia and South Asia, on expectations of returning capital inflows as the region’s “growth story is re-established as structural.”($1 = 0.7968 pounds)(Join GMF on Refinitiv Messenger: https://refini.tv/33uoFoQ) More

  • 138 Shares129 Views

    in Cryptocurrency

    Three Cryptocurrencies One Might Watch : Logarithmic Finance, Zcash, and Algorand

    Logarithmic Finance (LOG) – The Next-Generation of Decentralised Finance Logarithmic Finance (LOG) aims to be the next-generation of decentralised finance (DeFi) and Swapping Protocol, allowing seamless connectivity and interaction between early-stage blockchain entrepreneurs and investors. The intuitive interface with web 3.0 as the underlying technology infrastructure would unleash the actual potential of decentralised finance and empower innovators to raise funds and create products that would attract top-tier investors to the platform quickly and easily.Investors would be able to use the platform to cherry-pick the most promising and profitable ventures, allowing them to profit handsomely from their investments. Only 1.2 billion LOG tokens will be sold during the sale, which has a maximum supply of 4 billion LOG tokens. After the presale, all tokens that have not been sold will be burned. In 2022 and beyond, Logarithmic Finance (LOG) token is one of the most promising cryptocurrencies to watch out for.What does Logarithmic Finance (LOG) Offer with its Advanced Technology? The team at Logarithmic Finance (LOG) will continue to develop advanced functionality for both Project Innovators and Liquidity Providers, allowing them to immerse themselves in the true wonders of DeFi innovations in a safe, scalable, and cost-effective ecosystem. Fully Homomorphic Encryption (FHE) They want to make the swapping mechanism available to end-users as secure as possible by using completely homomorphic encryption, which eliminates the need to decrypt data packets while the computational process is running. Reduction in Gas Fees The platform’s sturdy code architecture was created by Logarithmic Finance’s (LOG) highly experienced development team using a minimalistic approach featuring a clean and modular code structure. Furthermore, the platform guarantees that only critical data is anchored on the blockchain, allowing for resource minimization. Swap NFTs The NFT auction feature will be introduced only for LOG token holders on the platform. The project’s creators will be able to take payments in return for their Non-Fungible Tokens in a variety of cryptocurrencies or stable coins. What do Zcash (ZEC), and Algorand (ALGO) have to offer? Zcash (ZEC) is a well-known cryptocurrency with a high volume of trading. Zcash (ZEC) delivers greater transaction privacy and anonymity by employing zero-knowledge proofing technology.It was developed on the open-source protocols of Bitcoin (BTC), albeit it is not a fork. As a result, it shares several characteristics, such as the proof-of-work (PoW) consensus technique and tokenomics. However, in addition to better transaction privacy, it offers up to eight times faster block times and lower transaction fees than BTC. As a result, since its inception in 2016, Zcash (ZEC) has attracted many retailers.As for Algorand (ALGO), it is a permissionless blockchain platform that uses a decentralised byzantine agreement system and a pure proof-of-stake protocol to operate. Users can obtain consensus and validate transactions using PPoS based on how much Algorand (ALGO) cryptocurrency they own. It was designed to satisfy huge computing power demands as well as other problems, such as the possibility of a 51 percent attack and any attempts at forking, which makes previously invalid blocks and transactions valid again.For more information on Logarithmic Finance check out their Website or Telegram. You can find more about the presale here.Continue reading on DailyCoin More

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    in Cryptocurrency

    Fortnite Token’s (FNT) Creators Refute Claims by Epic Games that the Crypto Is a Scam

    Fortnite Token (FNT) Is a Scam Tim Sweeney announced that the Epic Games team is not behind the Fortnite token (FNT). Although the Fortnite Token seems to be using the Fortnite logo, it is not affiliated with Epic Games, the creators of the game, in any form. The Fortnite Token (FNT) was launched in October 2021, claiming to be the official token for Fortnite, the world’s most popular game, and has an average userbase of 3 million users. In a statement made on twitter, Sweeney firmly asserted: “You can’t use the Fortnite name and images without permission to market an unrelated product”.Fortnite Tokens have been removed from Telegram following a complaint made by Epic Games. Sweeney has since stated that the Epic Games legal team is working on a lawsuit against the creators of the token.FNT Creators Clap BackThe team behind the Fortnite Token has reacted to Sweeney’s comments, claiming that FNT isn’t a scam cryptocurrency project.Reacting via the official Fortnite Token Twitter (NYSE:TWTR) handle, the team underlines that FNT is a “fair-launch, community-driven, Fortnite game fans-created cryptocurrency project with no specified owner or company structure behind it.”On the FlipsideWhy You Should CareThere have been serious concerns rising about scam projects, especially since The Squid Game (SQUID) token rug pull, which liquidated thousands of investors.The creators of Fortnite have ventured into the metaverse. Find out more:Epic Games Raises $2 Billion to Build “The Metaverse” Backed by Sony (NYSE:SONY) and LEGORead our earlier article on the potential of Fortnite below:What If Fortnite Were on Blockchain and Had Crypto?Continue reading on DailyCoin More

  • 100 Shares109 Views

    in Cryptocurrency

    Binance Suspends EGLD Network After Hacker Stole $1.65M

    Binance, the largest cryptocurrency exchange, has announced that it has suspended the withdrawal and deposit function of the Elrond (EGLD) network on its platform.This announcement came via its official Chinese page in the early hours of June 8, 2022. Binance said the action was necessary due to potential security issues on the EGLD network. The suspension took effect from 08:11 on June 06, 2022.At the moment, Binance is in active communication with the EGLD project team to resolve the issue as soon as possible.The exchange noted that it will resume the deposit and withdrawal services when the EGLD network is running stably without further announcement.The Elrond network came under attack on June 6, 2022. According to Wu Blockchain, a Twitter (NYSE:TWTR) page run by crypto reporter Colin Wu, the hackers successfully siphoned free EGLD tokens to the tune of $1.65 million. The attackers went ahead to sell these tokens on Maiar decentralized exchange (DEX), which led to a 92% collapse of the EGLD token. At present, Maiar has suspended its DEX and related APIs.According to a crypto analyst on Twitter, the sabotage of the EGLD network was orchestrated by three new crypto wallets. They said the three wallets received, 800k, 400k, and 450k EGLD after a smart contract deployment. However, it was not clear where exactly the funds came from.At the time of writing, EGLD trades at $67. The recent attack puts its seven-day trading percentage at -17%. EGLD ranks among the top 50 cryptocurrencies with a market cap slightly above $1.5 billion. It attained an all-time high of $542 seven months ago. It has lost above 87% of its value since then.Continue reading on CoinQuora More

  • 125 Shares99 Views

    in Economy

    Rouble firms past 60 vs dollar despite eased capital controls

    The rouble has become the world’s best-performing currency so far this year, boosted artificially by capital controls and supported by high prices for commodities, Russia’s key exports. At 1211 GMT, the rouble was 2.2% stronger against the dollar at 59.66 on the Moscow Exchange, leaving the relatively narrow range of 60.0-62.5 it was in over the past few days after rapid swings in May.It firmed more than 3% to 63.47 against the euro.The rouble showed little reaction to Russia’s decision to relax some capital controls, which have been steering the currency since February after Moscow sent tens of thousands of troops into Ukraine on Feb. 24.Weeks after the rouble rallied to a near five-year high against the euro, Russia allowed export-focused companies to transfer forex to their overseas accounts under certain conditions, a move seen to be aimed at helping to pay for imports and preventing the rouble from strengthening.At the same time, the central bank raised the ceiling for cross-border transactions for individuals, saying Russian residents and non-residents from “friendly” states would be able to channel abroad the equivalent of up to $150,000 a month, up from the previous limit of $50,000.”The rouble rate is still determined mostly by the trade balance, where the situation is not really changing: exports remain relatively high, while imports have collapsed,” said Evgeny Suvorov, economist at CentroCreditBank.”The further ease in capital controls is not likely to prevent the rouble from strengthening, especially heading toward the end of the month, when exporters will be ratcheting up their hard currency sales,” Sberbank CIB said in a note.The rouble may see some downside pressure from lower interest rates at home. A majority of analysts polled by Reuters expect a 100-basis-point rate cut to 10% as the bank tries to make lending more affordable amid sluggish consumer demand and a pause in inflation.Sanctions and Russia’s efforts to meet its sovereign debt obligations remain in focus.European Union countries last week agreed on their sixth package of sanctions against Moscow over what it terms its “special military operation” in Ukraine, including phasing out all imports of Russian seaborne crude oil and petroleum products in six to eight months.Russian stock indexes were up.The dollar-denominated RTS index rose 4% to 1,227.3 points. The rouble-based MOEX Russian index rose 1.4% to 2,323.5 points. More

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    in Economy

    Factbox-From Meta to Peloton, companies slow hiring as economy sputters

    Last Friday, Elon Musk said he has a “super bad feeling” about the economy and plans to cut Tesla (NASDAQ:TSLA)’s workforce by about 10%, according to an internal email seen by Reuters.Musk backtracked on Saturday and said the electric-vehicle maker’s total headcount will increase over the next 12 months, but the number of salaried staff should be little changed.Following is a list of some other companies that have announced layoffs or frozen hiring to rein in costs:COMPANIES COMMENTS Alibaba (NYSE:BABA) Group China’s Alibaba might cut more than 15% of its total workforce, or about 39,000 employees, due to a sweeping regulatory crackdown in China, as well as slowing sales growth and rising prices. European online car retailer Cazoo said it would cut its workforce Cazoo Group by about 15% as it looks to conserve cash. Ltd Carvana Co (NYSE:CVNA) Carvana said it will lay off about 2,500 employees, or 12% of its workforce. Coinbase (NASDAQ:COIN) Coinbase will extend its hiring freeze for the foreseeable future and rescind Global Inc a number of accepted offers to deal with current macroeconomic conditions. Getir Turkey’s Getir is planning to cut 14% of its staff globally due to rising global inflation and costs, a source with knowledge of the matter told Reuters on May 25. German grocery app Gorillas will lay off 300 people, cutting its Gorillas administrative staff in half, Chief Executive Kagan Sumer said on May 24. Henkel AG (OTC:HENKY) & Germany’s Henkel, the company behind Schwarzkopf, said on May 5 it would cut Co KGaA about 2,000 positions due to low demand of its shampoos and hair spray, as well as rising costs and global supply chain issues. Klarna Swedish company Klarna said on May 23 it was slashing 10% of its 7,000 strong workforce as a consequence of a recent steep increase in inflation, fear of a recession and the war in Ukraine worsening business sentiment.  Lyft Inc (NASDAQ:LYFT) The company said in May it will slow down hiring and assess budget cuts in some departments. Meta Facebook (NASDAQ:FB) parent Meta said in May it will slow the growth of its workforce. Platforms Inc Move About Sweden’s Move About Group said on May 20 it would cut 17 out of 40 positions Group AB due to indirect effects of the war in Ukraine and an excessive cost base. Netflix (NASDAQ:NFLX) Netflix in May said it has laid off about 150 people, mostly in the U.S., as the streaming service company faces slowing growth. Peloton (NASDAQ:PTON) Peloton in February said it will cut about 2,800 corporate jobs as it looks to Interactive revitalize sagging sales. Inc Robinhood (NASDAQ:HOOD) The retail trading platform said in April it is laying off about 9% of its Markets Inc full-time employees. Snap Inc (NYSE:SNAP) CEO Evan Spiegel in May told employees the company will slow hiring for this year. Tencent Chinese company Tencent is struggling to cope with the slowing economy, and Holdings might cut between 10-15% of its total workforce this year. Twitter Inc (NYSE:TWTR) CEO Parag Agrawal said in a memo that the social media company will pause hiring and review existing job offers to determine whether any “should be pulled back”. Uber (NYSE:UBER) Uber will scale back hiring and reduce expenditure on its marketing and Technologies incentive activities, Reuters reported in May, citing a letter from the CEO. Inc Valmet Oyj Valmet said on May 23 it was in negotiations for temporary layoffs of up to three months, with about 340 employees part of the talks at its valve factory in Helsinki due to reduced orders caused by the war in Ukraine and COVID-19 restrictions in China. Source: Regulatory filings, Reuters stories, company websites More