Cryptocurrency news - Business
South African grocery giant ‘Pick n Pay’ intends to accept Bitcoin in all stores nationwide
Pick n Pay, one of South Africa’s largest supermarket chains, is set to allow its customers to pay for items in all its stores using Bitcoin. According to South African-based tech news outlet Tech Central, Pick N Pay is planning to roll out its cryptocurrency payme...
Freeway's withdrawal halt blamed on 'failed' trading strategy
Crypto staking platform Freeway pointed at the failure of one of its trading strategies, along with market conditions as the leading reason for halting user withdrawals earlier this week. The crypto yield platform on Oct. 23 announced it was halting various transactions relating...
Japanese port city wants to become the Web3 hub for the country
In Japan, the city of Fukuoka is looking toward the future of Web3 in its latest partnership with Astar Japan Labs, the company behind Japan’s leading blockchain, the Astar network. Fukuoka is the country’s second-largest port city and has officially been designated a...
FTX to give a 'one-time' $6M compensation to phishing victims
Cryptocurrency exchange FTX will provide around $6 million in compensation to victims of a phishing scam that allowed hackers to conduct unauthorized trades on certain FTX users’ accounts. FTX founder and CEO Sam Bankman-Fried posted in a Twitter thread on Oct. 23 that the...
Metaverse trading volume plummeted 80% but hype hasn’t decreased
Third-quarter trading volume for the top 10 Metaverse projects may have fallen 80% compared to the second quarter, but analytics firm Dappradar suggests that interest in virtual worlds still remains. The Metaverse sector has been hit with a fair amount of negative press as of lat...
South Africa Classifies Crypto Assets as Financial Products
South Africa has declared crypto assets to be a financial product, according to a new notice from the country’s Financial Sector Conduct Authority. The change brings digital assets more under the purview of South Africa’s regulators. The notice defines a crypto asse...
German crypto bank Nuri tells 500K users to withdraw funds ahead of shut down
German crypto bank Nuri has told its 500,000 users to withdraw funds from their accounts as the firm prepares to shut down and liquidate the business, marking it as another victim of the 2022 bear market. Nuri first reported liquidity issues in August, after announcing t...
SEC, CFTC Probing Bankrupt Crypto Hedge Fund Three Arrows Capital
The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) are examining whether bankrupt crypto hedge fund Three Arrows Capital violated rules by misleading investors about its balance sheet and not registering with the two agencies, Bloombe...
Taliban had a ‘massive chilling effect’ on Afghan crypto market
The Taliban’s takeover of Afghanistan has had a “massive chilling effect” on the local cryptocurrency market, bringing it to an effective “standstill,” according to a recent report. Blockchain analytics firm Chainalysis in an Oct. 5 report s...
Australia's CBDC Pilot to Be Completed in 2023
The Reserve Bank of Australia (RBA) is expecting to complete its central bank digital currency (CBDC) pilot by mid-2023, according to a white paper published on Monday. The purpose of the pilot is to "explore innovative use cases" that could be supported by the issuance of a CBD...