A fledgling class of crypto that feasts on risk is outshining a wider market paralyzed by war and inflation. Coins backed by gold are newer variants of “stablecoins”, which are typically pegged to the dollar to tame volatility. The largest, Pax Gold or PAXG, has jumped 7.4% in 2022, while main rival Tether Gold has…
Crypto exchange CoinDCX raises $135 mn in funding as valuation tops $2 bn Indian crypto exchange CoinDCX has raised $135 million in its Series D funding round, with a valuation of over $2 billion. The round was led by Pantera and Steadview and saw participation from prominent investors like Kingsway, DraperDragon, Republic, and Kindred. The…
Indian crypto exchange CoinDCX has raised $135 million in its Series D funding round, with a valuation of over $2 billion. The round was led by Pantera and Steadview and saw participation from prominent investors like Kingsway, DraperDragon, Republic, and Kindred. The latest funding round also saw existing investors such as B Capital Group, Coinbase,…
Amidst the pioneering fintech revolution, the biggest risk of cryptocurrency could be money laundering and its use for financing terror, said Union Minister of Finance Nirmala Sitharaman on Monday (local time). In her address at a seminar during the ongoing spring meet of the International Monetary Fund (IMF), Sitharaman said: “I think the biggest risk…
When Surojit Chatterjee walked on stage at a Coinbase Global Inc. conference in Bengaluru, India, on April 7, he had little reason to anticipate the fallout that would shortly ensue. Chatterjee, the company’s chief product officer, told the assembled audience that crypto investors would now be able to use the country’s online retail payments system…
Web browser company Opera has announced that its Crypto Browser for Web3 is now finally rolling out on iPhones and iPads. The company said that Web3 is gaining further momentum day by day. “The Opera Crypto Browser, for Windows, Mac and Android, is a dedicated web3 browser with a built-in non-custodial crypto wallet,” the company…
The US has blamed North Korean hacker group Lazarus for stealing $625 million in cryptocurrency from the Ronin Network, owned by developer group Sky Mavis. The FBI has also attributed Lazarus Group to the Ronin security breach as the US Treasury Department updated sanctions to include the wallet address that received the funds and attributed…
The World Bank has said that introduction of the Central Bank Digital Currency (CBDC) could potentially pose risks to privacy, increase responsibilities of the central bank, and may also lead to currency substitution through cross-border transactions. “The introduction of CBDC could disrupt the existing financial-intermediation structure. In addition, depending on design and country context, CBDC…
Crypto lender Nexo said it has teamed up with global payments company Mastercard to launch on Wednesday what it calls the world’s first “crypto-backed” payment card. It signals the latest move by crypto and incumbent financial networks to join forces as digital assets become more mainstream. Nexo said the card, available in selected European countries…
Big Indian crypto exchanges CoinSwitch Kuber and WazirX have disabled rupee deposits for the purchase of cryptocurrency using a widely-used state-backed transfer system, spurring users to voice concern on social media. India has spent years on a law to ban or regulate cryptocurrencies, with its central bank backing a ban over their threat to financial…
