Category: Litecoin News

Ethereum gas consumption has plummeted 99.99% since The Merge, transforming the network into a more environmentally friendly platform. One year after the major upgrade, The Merge, which marked the transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS) consensus, Ethereum has achieved certain improvements, including a record drop in gas consumption. According to data from Glassnode Alerts, Ethereum’s daily energy consumption has been down 99.9% post-Merge. Additionally, gas fee pressure on the Ethereum network has eased despite the recent SocialFi hype. In the past, gas fees on the Ethereum network were inclined…

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In a Court Filing, the U.S. Securities and Exchange Commission (SEC) pointed to Binance’s document production, regulatory violations, concerns about asset control, inconsistent statements, uncooperative responses, and limited cooperation in providing witness testimonies. The securities regulator alleged that Binance.US’s holding company, BAM, failed to provide sufficient documents upon the agency’s discovery requests related to customer assets. According to the document, BAM submitted only 220 documents during the discovery process. However, these documents included “unintelligible screenshots” and items lacking “dates or signatures.” More Problems for Binance The SEC also accused Binance.US…

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JPMorgan Chase & Co., one of the most well-established financial institutions in the world, is reportedly developing a new blockchain-powered deposit token for cross-border transactions and settlements. Bloomberg first reported the exploration on August 8. With this move, the banking giant aims to accelerate cross-border settlement processes. The new deposit token will target enterprise clients at the beginning. JPMorgan previously introduced the JPM Coin as a solution for instantaneous transactions between the bank’s customers. The deposit token, on the other hand, has similar functionality as stablecoin and central bank digital…

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India is replacing a complete crypto ban plan with regulations, The Indian government is reportedly developing a legal framework on cryptocurrency following the G20 Summit on September 9 and 10. Accordingly, the 2023 G20’s outcome shed light on the coming crypto guidelines, which was crafted in a joint policy recommendation by the International Monetary Fund (IMF) and the Financial Stability Board (FSB). The IMF-FSB-backed proposals primarily targeted the regulation of stablecoins and decentralized finance (DeFi) activities. However, the demand for other tokens in large in India. The policy paper explained…

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As the list of Web3 players is growing, the Kresus crypto SuperApp has extended its crypto cash-out service, allowing users to off-ramp at 0% fees when they withdraw USDC through integrating with Coinflow Labs. On- and off-ramp processes are one of the weak links connecting the crypto economy to the broader financial system. Thus, enhancing and extending them is seen as critical in making Web3 mass market. The ability to choose between a free cashout service or a paid option ensures instant off-ramping, allowing individuals to select a solution that…

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The bankrupt cryptocurrency exchange FTX has updated its filing in an effort to seek regulatory approval for a token sale. The amendment followed the recent speculation about FTX’s plan to sell a massive amount of its crypto assets to pay off debt earlier this month. As part of the original plan, FTX sought a regulatory green light to sell $100 to $200 million worth of its crypto assets per week. The proposal could be one of the forces behind the crypto market’s recent plunge. The potential sale sparked concerns not…

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PayPal’s cash-out option, available on wallets, DApps, and NFT marketplaces, debuted on MetaMask. PayPal rolled out its new off-ramp service to simplify Web3 payment transactions, and thus make digital assets more accessible to customers. According to the company’s press release, PayPal’s off-ramp feature allows Web3 merchants, like wallets, dApps, and NFT marketplaces, to expand their customer base with easy integration while taking advantage of PayPal’s security standards and tools. PayPal Introduces Off-Ramp Payment Solution The new offering enables users to convert cryptocurrencies from supported wallets to the US dollar. Users…

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Oasys, a game-focused blockchain has announced its partnership with KDDI Corp, one of the top three telecom companies in Japan, which will propel the mass adoption of blockchain gaming to new heights. The blockchain-based game development platform has elevated its ecosystem by integrating a range of KDDI’s features. Under this cooperation, the platform has integrated into the “αU market,” an NFT marketplace, and “αU Wallet” provided by KDDI. From now on, Oasys users can offer NFTs in the “αU market”, manage NFTs in the “αU wallet”, transfer, and deposit OAS…

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The new PayPal stablecoin is coming to Coinbase under experimental label, according to the exchange’s statement. PayPal is a major player in the digital finance space, but many people don’t trust the platform. The U.S. leading crypto exchange Coinbase confirmed that it would add PayPal’s recently launched stablecoin PYUSD, starting from August 3, if there is sufficient liquidity for PYUSD. The upcoming listing will be labeled as an “experimental asset,” denoting tokens that are either newcomers to the exchange or have relatively lower trading volumes when compared to the broader…

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Token sale speculation grew after FTX initiated a $10 million transfer. So what is the deal? Data from on-chain analytics Arkham Intelligence revealed that a wallet associated with the bankrupt exchange FTX has recently moved a massive amount of tokens from the Solana blockchain to another wallet on Ethereum via the Wormhole bridge since August 31. The transferred tokens reportedly were ETH ($6.23 million), FTX’s token FTT ($1.2 million), HXRO ($1.3 million), SUSHI ($550,000), and FRONT ($260,000). The total amount was estimated at $10 million. The reason behind the wallet’s…

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