Blockchain News

Hodler’s guide to travel: Which platforms accept cryptocurrency?
Blockchain News

Hodler’s guide to travel: Which platforms accept cryptocurrency?

The global economy is becoming increasingly digital, and it's no surprise that cryptocurrencies and blockchain technology are starting to have an impact on the travel industry. Many travel agencies now accept Bitcoin (BTC) and other digital currencies as payment, with some even providing discounts to customers who pay in cryptocurrency. Here is a list of popular travel booking platforms that take BTC, as well as embrace blockchain technology.1INCH Network to bring crypto payments to the travel industryThe decentralized exchange aggregator 1inch Network on Thursday announced a partnership with the travel booking platform Travala.com, which will allow users to pay for their hotel bookings with cryptocurrency. Users of Travala.com can now use their favorite cryptocurrency to purchase millions...
Hacker tastes own medicine as community gets back stolen NFTs
Blockchain News

Hacker tastes own medicine as community gets back stolen NFTs

Tales of traders getting scammed out of their nonfungible tokens were quite common at the peak of the NFT boom. However, in an interesting turn of events, the Solana community came together to “scam” a scammer in order to get back some stolen NFTs.It all started with the Discord channel hack of cross-chain gaming development studio Uncharted NFT, where scammers managed to drain 109 user wallets. The scammers got away with 150-plus SOL tokens and 25 World of Solana (WOS) NFTs, including three rare and highly valuable digital collectibles.2/It all began when @UnchainedNFT_ Discord got hacked two days ago.A hacker drained the wallet of 109 users for a total of 150+ $SOL. The most affected person was a WOS whale with 25 WOS NFTs that got stolen. This whale also owned 3 top 100 @MoonRankNF...
Buterin: How to create algo stablecoins that don’t turn into Ponzis or collapse
Blockchain News

Buterin: How to create algo stablecoins that don’t turn into Ponzis or collapse

Ethereum co-founder Vitalik Buterin has shared two thought experiments on how to evaluate whether an algorithmic (algo) stablecoin is sustainable.Buterin’s comments were sparked by the multi-billion dollar losses caused by the collapse of the Terra ecosystem and its algo stablecoin TerraUSD (UST). In a Wednesday blog post, Buterin noted that the increased amount of scrutiny placed on crypto and decentralized finance (DeFi) since the Terra crash is “highly welcome,” but he warned against writing off all algo-stablecoins entirely. “What we need is not stablecoin boosterism or stablecoin doomerism, but rather a return to principles-based thinking,” he said: “While there are plenty of automated stablecoin designs that are fundamentally flawed and doomed to collapse eventually, and plenty ...
JPMorgan trials blockchain for collateral settlement in after-hours trading
Blockchain News

JPMorgan trials blockchain for collateral settlement in after-hours trading

Multinational investment bank JPMorgan Chase & Co is reportedly trialing the use of its own private blockchain for collateral settlements. According to Bloomberg, JPMorgan conducted a pilot transaction on May 20, which saw two of its entities transfer a tokenized representation of Black Rock Inc. money market fund shares.A money market fund is a type of mutual fund that is considered to be a low-risk investment, as it offers exposure to liquid and short-term assets such as cash, cash equivalents and debt securities with high credit ratings.In terms of JPMorgan’s broader vision for its private blockchain, the bank said that it intends to enable investors to put forward a wide range of assets as collateral that can also be used outside of regular market hours. It pointed to equities and ...
Brainard tells House committee about potential role of CBDC, future of stablecoins
Blockchain News

Brainard tells House committee about potential role of CBDC, future of stablecoins

United States Federal Reserve vice chair Lael Brainard submitted a written statement in advance to the Financial Services Committee's virtual hearing, "On the Benefits and Risks of a U.S. Central Bank Digital Currency (CBDC)," that took place Thursday. That was a sound strategic move, considering that more than 25 legislators lined up to ask questions. Brainard’s appearance before the committee came just after the close of the comment period for the Fed’s discussion paper, “Money and Payments: The U.S. Dollar in the Age of Digital Transformation.” However, recent events on the stablecoin market played a preemptive role in the framing of her statement.Brainard acknowledged the position of stablecoins in the economy, saying in her written statement. She said:“In some future circumstance...
Tether launches stablecoin pegged to pesos on Ethereum, Tron and Polygon
Blockchain News

Tether launches stablecoin pegged to pesos on Ethereum, Tron and Polygon

Amid market issues surrounding stablecoins, Tether (USDT) launched a new digital asset that will be pegged to the Mexican peso on Ethereum (ETH), Tron (TRX) and Polygon (MATIC) networks. In an announcement sent to Cointelegraph on Thursday, Tether mentioned that the token will have the MXNT ticker and will join Tether's roster of fiat-pegged stablecoins that includes dollar-pegged USDT, euro-pegged EURT and Chinese yuan-pegged CNHT. Citing data that reports blockchain and crypto demand among Mexican companies, the stablecoin issuer believes that there's a unique opportunity to provide a cheaper option for asset transfer within the region. According to Tether's chief technology officer, Paolo Ardoino, the rise in crypto usage in Latin America pushed their decision to "expand." He expla...
Blockchain tech offers multiple paths to financial inclusion for unbanked
Blockchain News

Blockchain tech offers multiple paths to financial inclusion for unbanked

Financial inclusion, accessible services and the unbanked are standard talking points in many conversations about crypto. But, the details may remain somewhat fuzzy — the people who talk about crypto are generally those already inside the financial system. There are people who are actively working to increase financial inclusion and access to services for the vast number of people who are unbanked or underserved. CBDC for the peopleCentral bank digital currencies (CBDC) will serve different purposes in different places. In economies where individuals have moved away from high levels of cash usage, like those of the United States and the United Kingdom, there will be relatively little retail demand for CBDC, but there are places where cash is in short supply and CBDC can serve to incre...
Former Binance executives launch $100 million venture fund
Blockchain News

Former Binance executives launch $100 million venture fund

Multi-strategy blockchain investment fund Old Fashion Research (OFR) has completed its first close. Led by several former executives from Binance, OFR invested in over 50 blockchain projects in its first year.According to an announcement, Old Fashion Research is now coming out of stealth mode, in which it has been operating since its foundation in late 2021. Since that time, OFR put money in more than 50 companies in different markets, such as WOO Network, Genopets, Metaverse Magna, MetaDerby and ZetaChain. The fund was founded by Ling Zhang, the former vice president of mergers and acquisitions, and investments at Binance; and Wayne Fu, former Binace head of corporate development. Jiang Xin “JX” who led Binance Labs’ and Launchpad’s major investment deals, is heading OFR’s venture ar...
Exchanges back ‘Terra 2.0 revival plan’ via airdrops, listing, buyback and burning
Blockchain News

Exchanges back ‘Terra 2.0 revival plan’ via airdrops, listing, buyback and burning

The fall of Terra shook the entire crypto market. However, the project has no plans to stay down, having secured backing from crypto exchanges to help it rebuild. In an announcement on Thursday, Terra provided details on an upcoming airdrop of the new native token for its new blockchain dubbed Terra 2.0. The distribution of tokens will proceed on Friday, and holders of Terra Luna Classic (LUNC), TerraUSD Classic (USTC) and Anchor Protocol UST (aUST) who are eligible will receive new tokens Crypto exchanges Binance and FTX noted that they are working closely with the Terra team regarding the upcoming airdrop. Binance stated that it aims to help affected users on the platform by helping Terra with the recovery plan. FTX announced that it will support the airdrop and temporarily halt LUN...
WEF 2022: SWIFT probably won’t exist in 5 years, says Mastercard CEO
Blockchain News

WEF 2022: SWIFT probably won’t exist in 5 years, says Mastercard CEO

Mastercard CEO Michael Miebach said on Tuesday that he does not expect SWIFT, one of the most widely used platforms for cross-border fiat transactions, to exist in five years' time. Miebach was speaking at a panel session on central bank digital currencies (CBDCs), as part of the Global Blockchain Business Council (GBBC)’s Blockchain Central Davos conference, which ran adjacent to the World Economic Forum 2022 in Davos, Switzerland.Kicking off GBBC’s #BlockchainCentral Davos session on CBDCs with @eva_szalay @FT @YuvalRooz @digitalassetcom @Jbrookslassiter @Digital_Dollar_ @MiebachMichael @Mastercard @BIS_org @DBTreat @Accenture pic.twitter.com/C2fvgy0Bij— Global Blockchain Business Council (GBBC) (@GBBCouncil) May 24, 2022Towards the end of the panel discussion, when the moderator as...