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When a complaint from an XRP token holder gained over half a million impressions on X, Ripple co-founder David Schwartz was forced to explain why Ripple’s blockchain, despite over 300 bank partnerships built over 13 years, doesn’t process billions of dollars worth of daily on-chain volume. Schwartz launched the XRP Ledger with Arthur Britto on June 2, 2012. Unlike Bitcoin, whose founder Satoshi Nakamoto intended to disintermediate banks, Ripple has remained focused on banks for years. On social media, XRP communities track and celebrate bank integrations and how the XRP Ledger can facilitate settlements between trusted intermediaries. Not only that, Ripple has issued hundreds of press statements about banking integrations, and Schwartz appeared to agree with an estimate that the company has established at least 300 banking partnerships . Which is why it’s odd that so few banks actually transact on the XRP Ledger. In his X posts, Schwartz explained that f...

There has been a lot of talk about Dogecoin (DOGE) making its way into X’s payment platform. X owner Elon Musk has showered much support for the dog-themed memecoin. Musk has repeatedly said that DOGE is his favorite cryptocurrency. The tech billionaire has even enabled DOGE payments for Tesla merchandise. Also Read: Pi Network (PI) Faces 50% Correction: Should You Buy The Dip? Grok AI Sheds Light On Dogecoin Integration On X Source: Watcher Guru According to X’s in-built AI chatbot, Grok, “ Whether X will include Dogecoin in its payment platform remains uncertain as of now. “ Despite the uncertainty, the AI chatbot highlighted Musk’s fondness for DOGE. Grok further said that X has pursued money transmitter licenses across the US. The platform has approvals in 38 states as of 2025. The payment platform could go live sometime later this year. Also Read: Bitcoin Reserves a ‘Time Bomb’—Russian Economist Warns of 50% Crash According to regulatory documents from...

Though momentum has been somewhat choppy in the most recent trading, the prevailing sentiment in the cryptocurrency market this ‘Uptober’ – a popular nickname for October – is optimism. After months of slightly downward trading, Bitcoin (BTC) broke with the trend and began its surge, finding a new footing near $68,000. This led many traders, experts, and observers to speculate how high BTC could go during the rally, with some speculating a rise to $86,000 by Halloween and $100,000 soon after. Amidst the optimism, popular cryptocurrency analyst Duo Nine warned on X that ‘Bitcoin is in danger,’ with some of the long-term risks being the same as the current, short-term benefits. Picks for you Robinhood enters election trading, launches $1 payout contracts 15 mins ago ...

Elena Sinelnikova, co-founder of the MetisDAO Foundation and Decentralization Coordinator for the Layer-2 blockchain Metis, recently shared her insights on how next-generation solutions can open Web3 to the masses with crypto.news. With over two decades steering complex government IT projects before entering crypto, Sinelnikova has a grounded perspective on blockchain evolution. She also leads CryptoChicks, empowering women and youth in Web3 globally. In her commentary, Sinelnikova highlighted two key barriers still limiting mainstream use of Layer-2 platforms despite strengths in speed, fees and scale: an ongoing lack of simplicity and decentralization. While user experience has improved from first-generation blockchain tools, more work is essential so Web3 integrates seamlessly into people’s digital lives. We, as an industry, can match the ‘experience’ of legacy services that stood the test of time. Think of seamlessness. You’ll have to connect your wallet, sign transactions, e...

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. The eyes of the world are on the trial of FTX founder and former crypto poster-child Sam Bankman-Fried, who has morphed into a symbol of the worst excesses of the last crypto bubble. But the media circus that surrounds proceedings is more true-crime series than legitimate commentary on decentralized finance. You might also like: The landscape of crypto exchanges never stops changing | Opinion It is true that defi has been on a roller coaster over the past several years. The sector exploded onto the financial and technological scene in 2021 as groundbreaking new tools allowed people to put their money to work and earn yield in unprecedented ways through participation in networks such as MakerDAO and Aave. Despite the seeming suddenness of its arrival, this breakthrough was a long time coming. For decades, if not centuri...

2023 saw an overall trend reversal as crypto entrepreneurs took charge of the situation and helped regain investor confidence. The Bitcoin (BTC) mining community recorded its annual all -time high (ATH) on Nov. 12 after raking in over $44 million in block rewards and transaction fees.  The revenue from Bitcoin mining primarily comes from rewards for confirming Bitcoin transactions and creating new blocks using high-tech computer equipment known as mining rigs. Miners currently receive 6.25 BTC for every successful block creation in addition to the transaction fees.  On Nov. 12, the daily Bitcoin mining rewards crossed $44 million for the first time in 2023, a number last seen in April 2022, according to data from blockchain.com.  Bitcoin mining revenue annual chart. Source: blockchain.com In between the timeline of April 2022 and November 2023, several factors contributed to the dip in the revenue of Bitcoin miners globally. They include a prolonged bear market, negative investor s...

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Web3, akin to numerous groundbreaking innovations, has been crafted with the explicit goal of improving and enriching our daily lives. It stands at the forefront of technological advancements that promise to reshape how we interact with digital systems and services.  You might also like: Beyond the hype: Web3 is in dire need of a rebrand | Opinion What makes web3 particularly noteworthy is its ability to transcend the boundaries of traditional financial institutions, as many of them have already discerned the potential for symbiosis with these cutting-edge technologies. Consequently, they are proactively delving into collaborative efforts and seeking ways to seamlessly integrate web3 into their core operations. This intriguing interplay between web3 and traditional finance is shaping a new landscape that is bound to inf...

The new platform Tokenet hopes to capitalize on institutional interest following the potential approval of a spot Bitcoin ETF. A new crypto-lending platform dubbed Tokenet says it will service what it expects to be an influx of institutional clients following the potential United States approval of spot Bitcoin (BTC) exchange traded fund (ETF).  The platform was launched by a team of executives who previously headed financial services firm Cantor Fitzgerald who since joined a new brokerage firm called Digital Prime Technologies. In a Nov. 7 statement, Tokenet said it will allow firms to borrow and lend digital assets while managing collateral positions. The platform also offers risk management tools which allow institutions to mitigate counterparty risks as they would in traditional finance. Digital Prime Technologies’ Tokenet platform is already backed by a number of crypto firms including Hidden Road Partners, Xapo Bank, EDX Clearing and DV Chain. "Given the current markets a...

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Let’s be honest: whenever people discuss matters related to the blockchain or web3, their minds immediately gravitate toward cryptocurrencies. However, it is the complex digital infrastructure pervading these assets that is actually transforming how we do things in everyday life. Take food safety, for instance. When we go to a store and pick up a pack of organic strawberries, we’re often left wondering if they’re genuinely organic. You might also like: Cryptocurrency awareness vs knowledge: To educate to empower | Opinion Thanks to the power of the blockchain, it is possible to scan a QR code and voila! The entire life cycle of the pack—from where it was grown, how it traveled, and so on—can be seen with the touch of a screen. Similarly, in healthcare, the medical records of most people are all over the place....

The experiment demonstrated that CBDCs could be wrapped to purchase NFTs on blockchains such as Ethereum. Mastercard has completed a trial involving wrapping central bank digital currencies (CBDCs) on different blockchains, similar to wrapped Bitcoin (wBTC) and wrapped Ether (wETH). According to the October 12 announcement, the trial was conducted with the Reserve Bank of Australia (RBA) and the country's Digital Finance Cooperative Research Centre CBDC, along with participation from Cuscal and Mintable. In a live environment, Mastercard said the solution allowed a CBDC owner to purchase a nonfungible token (NFT) listed on Ethereum. "The process “locked” the required amount of a pilot CBDC on the RBA’s pilot CBDC platform and minted an equivalent amount of wrapped pilot CBDC tokens on Ethereum," the payment processor wrote.  "A pre-requisite of the test transaction was that the Ethereum wallets of both the buyer and seller, as well as the NFT marketplace smart...

In crypto, competition and invention are pivotal in determining success. Despite being a leader in providing Oracle services, Chainlink (LINK) is still struggling in the current market conditions. Meanwhile, InQubeta (QUBE) is being increasingly explored as an alternative . InQubeta provides an alternative InQubeta connects investors with artificial intelligence (AI) startups using its native token, QUBE. Its fundamental concept involves fractional investment in AI startups via non-fungible tokens (NFTs). This approach democratizes investing, allowing individuals with diverse budgets to become early backers of potent projects.  QUBE is also deflationary, and InQubeta imposes a 2% fee on every buy and sell transaction, with the proceeds directed towards a burning wallet. Another 5% sell tax is channeled to a dedicated reward pool, incentivizing token staking. The combination of AI and crypto can offer new opportunities. InQubeta recognizes that traditional investment meth...

According to a report by the investment migration company Henley and Partners, there are 88,200 crypto millionaires worldwide, with almost half owning Bitcoin (BTC). The report reveals around 40,500 of the millionaires hold Bitcoin despite the recent price fluctuations.  Moreover, the report revealed that the number of global crypto users has reached over 425 million , with 210 million users also holding Bitcoin. Per Henley and Partners, there are only 182 “centi- millionaires ,” individuals with over $100 million worth of digital assets.  The number of crypto billionaires sits at 22, with only six holding BTC in their wallets.  The migration investment company ranks Singapore as the most crypto-friendly country for its tax-friendliness, public adoption, innovation and technology, and economic factors. Switzerland, the United Arab Emirates (UAE), and Hong Kong remain the next three crypto-hubs after Singapore. You might also like: Singapore introduces regulations f...

It's been one of the most lucrative quarters for those that profit from Bitcoin transaction fees in nearly two years. Bitcoin (BTC) miners made a lofty $184 million from transaction fees in the second quarter, far more than what they pocketed over the entire 2022 — as Bitcoin’s price surged and BRC-20 tokens flourished. The $184 million payout is more than a 270% increase from the first quarter of 2023 and it is the first quarter to have surpassed the $100 million mark since Q2 2021, according to a July 5 report from cryptocurrency analytics platform Coin Metrics. Bitcoin miners earned more from fees in Q2 than the previous five quarters combined. Source: Coin Metrics Bitcoin miners receive transaction fees whenevea new block has been validated, the amount of which is determined by the data volume and the user demand for block space. Coin Metrics said the jump in fees was due to Bitcoin’s recent price surge bolstered ‘top-line revenues” and the advent of BRC-20, a new token stand...

Venture capitalists have favoured ICOs in recent years, but Bitcoin-related startups are seeing renewed interest from investors. Initial coin offerings (ICOs) may have hampered the development of the Bitcoin ecosystem , with market research reflecting a massive slant towards non-Bitcoin investments by venture capital ists over the past five years. Blockstream CEO Adam Back highlighted the juxtaposition between the lack of venture investment in Bitcoin in comparison to its dominance of the total cryptocurrency market capital ization in conversation with Cointelegraph’s Joseph Hall in Lugano, Switzerland. Adam Back alongside Cointelegraph's Joseph Hall in Switzerland. Back, the inventor of Hashcash upon which Bitcoin’s proof-of-work algorithm was derived, pointed to market research published by Trammell Venture Partners which detailed venture capital flows into the ICO craze in the years following the launch of Ethereum and smart contract functionality. Back said that venture capi...

The latest regulatory approval for the crypto exchange comes within weeks of getting a MPI license from regulators in Singapore Singapore based cryptocurrency exchange service provider Crypto.com has obtained a virtual asset service provider (VASP) registration from the Bank of Spain. The regulatory approval would allow the exchange to offer a range of crypto-focused services to customers in Spain, a country which has shown a positive crypto stance in recent times. The crypto exchange platfrom had to undergo a comprehensive review of its Anti-Money Laundering Directive (AMLD) compliance and adhere to other financial crimes laws before getting the nod. The latest regulatory approval in Spain comes within weeks of obtaining a major payment institution (MPI) license for digital payment token (DPT) services by the Monetary Authority of Singapore (MAS). We're excited to share our latest regulatory achievement in Europe! We have obtained our Virtual Asset Provider Registration in Spai...

Research into “Long COVID” and furthering medical infrastructure development will be the two main focus areas for Buterin. Ethereum co -founder Vitalik Buterin is working with India-based crypto fund Crypto Relief and Polygon co founder Sandeep Nailwal to send $100 million towards COVID-19 research and medical infrastructure development in India. Buterin and Nailwal will receive $90 million in USD Coin (USDC) from Crypto Relief, while Buterin will provide $10 million out of his own pocket to further the cause. The two will then help distribute the funds.  According to a January 2022 Twitter post from Nailwal, Crypto Relief will transfer the funds to Buterin in order for the India-based crypto fund to remain in full compliance with their local laws. The first installment went towards tackling the COVID-19 pandemic in India through “emergency humanitarian relief.” Crypto Relief describes itself as a community-run fund which has delivered financial relief to India during the COVID-19 ...

Discussing AI as a feature, not a product, while the real use cases for AI have yet to emerge. Cointelegraph’s recent Ask Me Anything session on AI and blockchain brought together Foresight Ventures partner Tony Cheng, Hack VC managing director Ed Roman and Dragonfly Capital managing partner Haseeb Qureshi. The speakers discussed possible AI use cases in the crypto space, prominent startups that are already using AI, and investor interest in similar businesses. All guests noted that it’s too early to predict the evolution of Web3 and AI collaboration or the appearance of any unicorns at their intersection, as large language models are just emerging. They also emphasized the very different nature of these technologies, with AI being authoritarian while blockchain and Web3 remain democratic, non-hierarchical and decentralized. “We get pitches that are mostly solutions looking for problems. For example, some propose to build infrastructure to serve use cases, but the problem is that tho...