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A Brief History of US National Credit Defaults
Which nation’s credit is the most reliable? Many casual economic observers would say “America” without hesitation. But do the United States really have a stellar-credit record? No actually, not really at all. In fact, a conscientious look over the last few centuries would reveal that the nation’s brief history is riddled with national credit defaults.
What is Trust?
Trust and trusted third parties are key concepts in bitcoin. The key role of bitcoin is to reduce trust and trusted third parties.
Fiat Money
What is fiat money; the history of fiat money and its influence on monetary policy and the global economy.
BlockFi Triumphs Over Bankruptcy, Initiates Creditor Reimbursements
BlockFi, a cryptocurrency company, emerged from bankruptcy in October 2023 and has since implemented a plan to repay creditors and return digital assets to clients. The company is now focusing on asset recoveries from entities like FTX and 3AC, processing claims for fair distributions, and Wallet customers can withdraw assets.
Bybit Now Supports Crypto Purchases with Credit or Debit Cards
Bybit users can directly buy crypto with their credit or debit cards using fiat currencies, the cryptocurrency exchange company announced.
Uniswap allows debit and credit card purchases of cryptocurrencies.
Moonpay, a fintech business, and Uniswap, a company that trades in digital currency, have formed a partnership that will enable users of Uniswap's web app to purchase cryptocurrencies using debit cards, credit cards, or bank transfers. Purchases of cryptocurrencies will also be possible to be made through bank transfers for users of the decentralized exchange. Users in most states in the United States, Brazil, the United Kingdom, and the Single Euro Payments Area will soon have access to the bank transfer option (SEPA).
Kucoin Global Users Can Now Purchase Crypto With Debit/Credit Cards
KuCoin exchange has launched the KuCoin Fiat Account, an avenue by which its customers around the world can fund their accounts using either a Visa or Mastercard debit or credit card.
HKMA Releases Q1 2024 Payment Card Statistics Showing Growth in Credit Card Transactions
The Hong Kong Monetary Authority (HKMA) has published the first-quarter 2024 statistics on payment cards issued in Hong Kong, revealing notable trends in credit and debit card usage.
Gala Games Hosts 'Play with the Devs' Event for Last Expedition on July 17
Join the Last Expedition team on July 17 at 5pm PT for a special 'Play with the Devs' event on Discord, hosted by Gala Games.
Gala Games Teases Upcoming 'Mission Ready' Premium Event
Gala Games announces a 'Play with the Devs' live event on Discord ahead of the 'Mission Ready' Premium leaderboard event.
Gala Games Launches Mission Ready Premium Event for Last Expedition
Gala Games has launched the Mission Ready Premium Event for Last Expedition, offering enhanced prizes and challenges for players with Premium Passes.
Gala Games Partners with Coinflow for Enhanced Credit Card Payments
Gala Games announces a partnership with Coinflow to streamline credit card payments, offering users a seamless transaction experience and a limited-time rebate.
HKMA Addresses Nova Credit Limited's Operational Cessation and Exit from Credit Data Smart
The Hong Kong Monetary Authority (HKMA) responds to Nova Credit Limited's decision to cease operations and exit Credit Data Smart, ensuring data security.
Hong Kong Monetary Authority Reports Stable Credit Conditions for SMEs in Q2 2024
The HKMA's survey indicates stable credit conditions for SMEs in Q2 2024, with a slight increase in positive perceptions.
NVIDIA RTX Enhances CyberLink PowerDirector with High-Efficiency Video Coding
CyberLink PowerDirector, powered by NVIDIA RTX, now supports high-efficiency video coding (HEVC) for superior video quality and faster processing.
Hong Kong Monetary Authority Releases Q2 2024 Credit Card Lending Survey Results
The Hong Kong Monetary Authority reports a 0.2% decline in total card receivables in Q2 2024, with delinquent and rescheduled ratios slightly increasing.
NVIDIA Introduces Fast Inversion Technique for Real-Time Image Editing
NVIDIA's new Regularized Newton-Raphson Inversion (RNRI) method offers rapid and accurate real-time image editing based on text prompts.
CoreWeave Secures $650 Million Credit Facility to Fuel AI Expansion
CoreWeave announces a $650 million credit facility led by major banks to support its global expansion and AI infrastructure growth, highlighting its position as a leader in AI cloud solutions.
Veed Co-Founders Leverage AI to Revolutionize Video Editing
Veed co-founders Sabba Keynejad and Tim Mamedov utilize Speech AI to innovate a browser-based video editing platform, enhancing user creativity and efficiency.
Hong Kong Credit Card Receivables Slightly Decline in Q3 2024
The Hong Kong Monetary Authority reports a 0.6% decrease in credit card receivables for Q3 2024, with the delinquent and rescheduled ratio rising to 0.40%.
QuadrigaCX Users to Receive Interim Distribution
Users of defunct cryptocurrency exchange QuadrigaCX will receive interim distribution of funds tied to bankruptcy proceedings in the coming weeks. A small number of affected users may receive a Notice of Disallowance of Claim, with the right to appeal. QuadrigaCX owes affected clients an estimated $160 million and trustee Ernst & Young has recovered $34.3 million worth of assets.
Financially Distressed Core Scientific Owes $1 Billion To Creditors
Core Scientific has sent a warning for a bankruptcy crisis. A breakdown of its debts now stands at $1 billion in unpaid bills.
Gemini Purchases Carbon Credits to Decarbonize Bitcoin
Gemini exchange is funding initiatives to help decarbonize Bitcoin.
Digital Currency Group Lands $600M Debt Funding
Grayscale Investments’ parent company Digital Currency Group (DCG) said it has secured a $600 million credit funding, billed to power its many diverse operations.
SEC Makes ICO Token Sales More Inclusive, Not Enough For SEC Commissioner Hester Peirce
The US SEC has modernized their definition of an 'accredited investor' to consider not just an individual’s wealth, but their education.
US SEC Extends Review Period for 7RCC's Bitcoin ETF Listing
The US SEC has extended the review period for 7RCC's Bitcoin ETF listing, with the final decision expected by June 24, with the initial deadline set for May 10. The Bitcoin ETF aims to provide investors with exposure to Bitcoin and incorporate carbon credits.
SEC New Accredited Investor Definition Could Increase Access to Certain Crypto-Related Products
The United States Securities and Exchange Commission (SEC) is looking to allow more individuals and entities to participate in private capital markets.
Genesis Capital's Settlement Disrupted by Creditors
Digital currency company Genesis Capital's settlement process has been disrupted by creditors, raising concerns about the timing of the process. Genesis' parent company, Digital Currency Group (DCG), has filed a motion for mediation, citing renewed demands from creditors.
Mastercard VP On Blockchain, Digital Assets and CBDC: “Everything Ends in Transactions and Payments”
Ashok Venkateswaran, Mastercard’s Blockchain and Digital Assets Lead, Asia Pacific shares insights on the payment giant's new blockchain and digital initiatives.
QuadrigaCX Bankruptcy Trustee Announces Interim Distribution of Funds
QuadrigaCX's bankruptcy trustee, Ernst & Young, has announced an interim distribution of funds to the exchange's creditors. The announcement was made in consultation with estate inspectors, and a Notice to Affected Users will be posted soon with further details. However, some affected users may receive a Notice of Disallowance of Claim, with the right to appeal.
Luno Floats Venture Capital Arm to Invest in Web3.0 & Fintech Startups
Luno, a digital currency platform owned by the Digital Currency Group (DCG) has launched Luno Expeditions, its Venture Capital (VC) outfit.
Celsius Crypto Lender's Bankruptcy: Large Withdrawals Clawbacks
Celsius Network is imposing bankruptcy proceedings on account holders with $100,000 or more liabilities, and is taking legal action against those who withdrew large amounts pre-bankruptcy.
Meta Unveils Next-Gen AI Emu Video and Emu Edit
Meta's Emu Video and Emu Edit are advanced AI tools for video and image editing, enhancing creative processes and ensuring ethical AI deployment.
Mt.Gox Sets Jan 10 as Deadline for Creditors to Register for Compensation
There seems to be a beam of light for customers of bitcoin exchange operator Mt.Gox as a date has been set for creditors to register and choose a repayment plan for them to recover their lost funds
Mina Stones to Propel Ethical Mining in Africa via Credits Blockchain
Mina Stones, a pioneer of Handcrafted African Fine Jewelry, seeks to avert the unethical mining problem in Africa by using Credits blockchain to alter the present gemstones supply chain.
Power Ledger Wikipedia Page Removed By Biased Crypto-Hating Wiki Editor David Gerard
Power Ledger recently became the target of the anti-crypto zealot and Senior Wikipedia Editor David Gerard who argued to delete their Wiki page.
South Korea Cracks Down on Cryptocurrency, Credit Card Purchases Banned
South Korea intensifies crypto regulations in 2023, targeting illicit flows and tightening credit card use for crypto purchases.
Paxos’ Blockchain Settlement Platform Goes Live with Settling Credit Suisse and Instinet Trades
New York-regulated stablecoin issuer, Paxos, launched its blockchain-based settlement platform, after announcing the service in late 2019. The new service enables settlement of US-listed equity trades between broker-dealers Swiss financial services firm Credit Suisse and Nomura Group-backed Instinet.
Fed Slashes Interest Rate to Near Zero and Launches 700Bn QE, Bitcoin Hovers Near $5k
In an attempt to stimulate U.S. economy amid coronavirus pandemic, the Federal Reserve (“the Fed”) decided to slash the main interest rate to near zero together with the purchase of $700 billion Treasury securities.
Mt. Gox Updates Creditors on Repayment Progress
Mt. Gox cryptocurrency exchange has provided an update on its repayment progress for creditors. The company's rehabilitation trustee, Nobuaki Kobayashi, announced that the deadline for creditors to provide their repayment information has passed, and that repayments will be carried out until October 31, 2023, with the possibility of an extension. The repayment process is expected to take some time due to necessary preparations.
HK-based Spending App Offers Crypto Rebate for Customers
A local spending startup, Bloom pairs with cryptocurrency exchange Okcoin to offer token rebates and bring a gamified retail experience to their clients.
Venmo Lets Credit Cardholders to Convert Cash Back to Cryptocurrency
Venmo has expanded its crypto offering with a new feature that allows credit cardholders to automatically buy crypto assets using their cash back rewards.
Unchained Partners with Build Asset Management for Bitcoin-Backed Credit Fund
Unchained, a bitcoin financial service provider, has partnered with Build Asset Management to invest in Unchained loans. The partnership aims to unlock the value of bitcoin for borrowers. Unchained's lending division has a 170% surge in Q1-2023, despite the 2022 crypto market contagion and bitcoin's 65% value drop.
Tachyum's Prodigy Processors: A Game-Changer for Blockchain in Banking and FinTech
Tachyum, a leading tech company, has recently published a paper titled "Credit Unions, Blockchain, CBDC, FinTech and Tachyum Prodigy", which highlights the potential of Prodigy to revolutionize transactional banking and significantly reduce the environmental and financial costs associated with blockchain's energy consumption.
3 Benefits You Need to Know About Cryptocurrency Credit Cards
A breaking story shows that MedeTrade crypto exchange has integrated Dash in its Visa cryptocurrency credit and debit card. Therefore, crypto users need to know about benefits associated with cryptocurrency visa card.
Marathon Digital Refinances $100m Credit Facility from Silvergate Bank
Marathon Digital secured another loan deal of $ 100 million to sustain its operations amid the crypto market rout.
Flowcarbon Refunds Investors After Canceling Token Launch
Flowcarbon refunds investors after its planned Goddess Nature Token launch fails due to market challenges and regulatory resistance.
AI Image Editing: The Rise of Unified Concept Editing in Diffusion Models
Exploring the groundbreaking advancements in AI with Unified Concept Editing in diffusion models, offering enhanced precision and control in image editing.
US Credit Unions Gain Access to Partner with Crypto Assets Service Providers
The United States National Credit Union Administration granted domestic credit unions under the aegis of the Federally Insured Credit Unions the permission to enter into partnerships with third-party digital currency trading platforms.
Celsius Network Announces Court Approval of Reorganization Plan
Celsius Network has received court approval for its Plan of Reorganization, which aims to transform the company into a creditor-owned bitcoin mining firm, with over 95% creditor support, and aim for a 2024 Chapter 11 emergence.
Leading Sneaker MarketPlace Sets Foot in the Metaverse to Spur Innovations
The Edit LDN, a global sneaker marketplace based in London, has entered the metaverse by developing a premium store to drive its innovation a notch higher.
Taiwan Moves to Ban the use of Credit Cards to Acquire Cryptocurrency
Taiwan through its Financial Supervisory Commission (FSC) has moved to ban the use of credit cards in purchasing cryptocurrencies
Web2 and Web3 tools are merging as crypto-backed debit cards
The Bit2Me card supports eight cryptocurrencies, including BTC, ETH, ADA, and SOL, with more anticipated later this year.
Blockchain: The Trust Alternative to the History of US National Credit?
A conscientious look over the last few centuries would reveal that the brief history of the United States is riddled with national credit defaults. In all these instances, the people and the businesses relying on the fiscal value agreements they had made with the Central credit agency found their trust hopelessly misplaced. How can blockchain be leveraged to break the cycle of U.S. National Credit Default?
Visa Partners with Fold to Offer Bitcoin Rewards Credit Card
Visa, a prominent payment provider, has joined hands with Fold, a San Francisco-based Bitcoin cashback app, to offer a credit card that will enable consumers to gain Bitcoin rewards as compared to earning points. Through the strategic collaboration, users will have first-hand experience with the most-valuable cryptocurrency.
BlockFi Granted Extension to Submit Bankruptcy Exit Plan
BlockFi, a cryptocurrency lender, has been granted a 48-day extension until May 15 to submit a bankruptcy exit plan. The company is exploring a potential sale of assets or an outside backer to support a restructuring deal. A committee of BlockFi customers argued to take control of the case, citing the lack of a workable business for reorganization and the potential sale of the platform. However, the bankruptcy judge granted a shorter extension than requested by BlockFi.
Solana (SOL) Validators Approve "Timely Vote Credits" Proposal to Accelerate Blockchain Transactions
Solana validators have approved a proposal called "Timely Vote Credits" to reduce consensus vote latency and incentivize timely votes, potentially speeding up blockchain transactions, before implementing the mechanism.
FTX Announces Proposed Settlement and Amended Plan in Chapter 11 Cases
FTX has announced a proposed settlement in their Chapter 11 cases, pending court approval. The settlement includes a "Shortfall Claim" for customers and an amended Plan of Reorganization. The Official Committee of Unsecured Creditors supports the plan, expecting expedited cases and improved recoveries. Customers may receive over 90% of distributable value globally.
WeStreet Credit Union Opens Public Access to Cryptocurrency Trading Portal
WeStreet Credit Union has introduced a Crypto Portal, offering a secure platform for buying, selling, and holding cryptocurrencies. Initially a members-only feature since August 2023, it opened to the public in October. Partnering with a Qualified Crypto Custodian, WeStreet provides a regulated, audited platform for cryptocurrency transactions, bridging the gap between traditional banking and the digital currency sphere.
Japan’s Digitalization Effort will have Mixed Credit Impact across Sectors, says Moody’s Report
Japan’s digitalization effort will have a mixed credit impact across sectors according to a new report by Moody’s investor services.
TX Debtors Propose Amended Chapter 11 Plan: Cryptocurrency Claims Valued at Bankruptcy Date
FTX's debtors plan to value cryptocurrency claims based on their value at the time of the company's November 2022 bankruptcy, potentially impacting creditors due to market recovery.
Trump Launches Limited Edition Digital Trading Cards on Bitcoin Ordinals
Donald Trump's latest NFT collection, minted as Bitcoin Ordinals, brings a unique collectible aspect to the digital trading card market. This integration into the Bitcoin blockchain ensures longevity and immutability, enhancing the value of these limited-edition collectibles.
Credit Giant MasterCard Grants Wirex First Principal Membership License
Wirex has become the first native cryptocurrency platform to be granted a principal membership license from credit giant Mastercard as part of their accelerated expansion into digital assets.
Hut 8 Secures Enhanced $65M Credit Line with Coinbase
Hut 8 has amended its $65 million credit facility with Coinbase, demonstrating a significant shift in digital asset financing by using Bitcoin as collateral.
SEB and Credit Agricole launch digital bond platform on blockchain
Skandinaviska Enskilda Banken (SEB) and Credit Agricole have launched a blockchain-based platform called "so|bond," which allows institutional clients to issue, trade and settle bonds digitally. The platform uses a validation protocol called "Proof of Climate awaReness," which minimizes its environmental footprint while incentivizing nodes to improve their environmental impact.
Nasdaq-listed Northern Trust Boosts Digital Carbon Credit with Blockchain
Nasdaq-listed Northern Trust has introduced a digital platform for institutional voluntary carbon credit transactions, utilizing private ledger digital blockchain technology. The platform aims to streamline and digitize the complex process between institutional buyers and project developers.
US authorities consider expanding credit line for banks
US authorities are considering expanding an emergency credit line for banks to provide First Republic Bank with a time buffer to address balance sheet concerns, according to Bloomberg sources. The bank is deemed stable enough to operate without immediate intervention.
7RCC Spearheads a Carbon-Neutral Bitcoin ETF for ESG-Focused Investing
7RCC has submitted a spot Bitcoin ETF with a composition of 80% Bitcoin and 20% carbon credit futures, providing a unique, carbon-neutral investment option in the crypto market.
FTX Unveils Billions Repayment Plan to Compensate Creditors
FTX has announced a repayment plan to repay creditors and compensate for time value of investments, but valuation concerns remain over its effectiveness.
The Sandbox Appoints Nicola Sebastiani as Chief Content Officer
The Sandbox announced the appointment of Nicola Sebastiani as its Chief Content Officer to bolster its global content development. With a notable background from Sony PlayStation Studios and Apple, Sebastiani is set to enhance The Sandbox’s creator and content ecosystems. Alongside, executive promotions were announced with Mathieu Nouzareth now as Chief Business Officer and Amit Kumar as Chief Marketing Officer, marking a strategic move towards expanding its global community and fostering user-generated content in its decentralized virtual platform.
Crypto Leaders Praise United States SEC Inclusive Accredited Investor Definition, Some Think Its Not Enough
Is the SEC's new accredited investor rule inclusive enough? Crypto industry leaders debate.
How Bitcoin will react to US Government Shutdown
The impending US government shutdown threatens to delay the SEC's approval for a spot Bitcoin ETF, amongst other financial repercussions. The scenario also underscores the growing frequency of federal shutdowns and the persistent concerns of credit rating agencies over the US's fiscal policymaking, all of which could have broader implications for both traditional and crypto financial markets.
Islamic Development Bank to Create Blockchain Smart Credit Platform with Samsung's Blocko
The Islamic Research and Training Institute partnered with Samsung backed Blocko to develop a functional Credit Management System for Saudi Arabia.
A New World of Money - Blockchain in Human History Series
In this article we take a deep dive in money issuance standard to witness the evolution of money. The evolution of money issuance standard can be summarized in four phases.
Mt. Gox Creditors Given Extra Month to Register Claims, Distribution Deadline Delayed
The registration deadline for Mt. Gox creditors has been pushed back by another month, allowing creditors to file claims until April 6. The distribution of assets to creditors will now start from Oct. 31 instead of Sept. 30. Mt. Gox creditors have been waiting for years to get compensated for losses incurred because of the exchange hack in 2014. The extension in the deadline means that creditors will have another month to decide whether to take a lower amount now or wait another nine years to get the full amount.
Helio Lending Faced with Non-Conviction Bond Over False Australian Credit Licence Claims
Helio Lending faced a non-conviction bond for falsely claiming an Australian credit licence, as revealed by ASIC. The Melbourne-based crypto lender's misleading act underscores the need for transparency in the growing crypto sector.
Hut 8 Secures US$50 Million from Coinbase Credit to Enhance Financial Flexibility and Support Growth Initiatives
Hut 8 Mining Corp., a prominent North American mining pioneer and high-performance computing infrastructure provider, has recently made a significant announcement. The company has secured a credit facility of US$50 million through a partnership with Coinbase Credit
Crypto Lender Vauld Granted 3-Month Protection from Singapore Court against Creditors
Crypto lender Vauld has been facing hostile action from several creditors. The Singapore High Court has granted the distressed firm a three-month reprieve against its creditors.
Swiss regulators consider UBS takeover of Credit Suisse to prevent collapse
Swiss regulators are reportedly considering emergency measures to accelerate the acquisition of Credit Suisse by UBS, Switzerland's largest bank. The Swiss National Bank and the Swiss Financial Market Supervisory Authority believe that the acquisition is the only way to prevent a collapse in confidence in Credit Suisse following a series of financial scandals.
Billion-Dollar Southland Credit Union Rolls out Bitcoin Trading Services
Southland Credit Union, a $1 billion credit union serving more than 60,000 members in the U.S., has teamed up with NYDIG to offer Bitcoin (BTC) buying and selling services.
Fireblocks Strengthens Support for Banking & Financial Institutions
Fireblocks, a leading enterprise platform for managing digital asset operations and fostering blockchain-based innovations, has announced the expansion of its secure MPC-CMP wallet and key management technology.