Cryptocurrency news - Business
Goldman Sachs still open to crypto hires amid massive 3,200 staff cut
Goldman Sachs’ digital asset lead Mathew McDermott said the bank remains “hugely positive” on exploring blockchain applications. Goldman Sachs’ digital assets unit is reportedly open to bolstering its 70-strong team, despite a massive cost-cutting exercise at the firm last month...
Man faces arrest over alleged crypto mine hidden under a school
The Massachusetts-based man is alleged to have stolen nearly $18,000 worth of electricity to run 11 miners in a school’s crawl space. A former facilities worker who allegedly set up a secret cryptocurrency mining operation inside a Massachusetts school’s crawl space is due for a...
Paxos to stop minting BUSD stablecoins for Binance
All existing BUSD tokens will remain fully backed and redeemable through Paxos Trust Company by at least February 2024, Paxos said. Blockchain infrastructure platform Paxos will halt issuance of new BUSD (BUSD) stablecoins amid the ongoing probe by the New York regulators. Paxo...
Proposed Israeli law to classify crypto as securities will ‘kill the industry’
A proposed definition change by an Israeli regulator would cause immense harm to the local crypto industry, according to the CEO of Altshuler Shaham Horizon. Proposed laws in Israel that would see cryptocurrencies classified as securities would cause huge damage to the...
State of play: Decentralized domain services reflect on industry progress
Major decentralized domain services weigh in on the state of the industry and the potential for future growth. The rise of Web3 functionality has been a boon for decentralized domain name services over the past two years, with millions of blockchain-based domains registe...
Crypto wallets combat scammers with transaction previews and blocklists
New features aimed at protecting users come amid recent crypto thefts and phishing attacks targeted at well-known crypto executives and influencers. United States-based crypto exchange Coinbase has become the latest crypto wallet provider to roll out transaction previe...
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...