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Aptos Foundation and Alibaba Cloud are all geared up to transform the Web3 in Japan. Through this partnership with Alcove Pro Asias first co-branded Move developer community, these initiatives will be unveiled to advance Web3 through hackathons, education, and events led by industry experts, making Japan as a key player in the digital frontier. […]
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. (Read More)
E-commerce group Alibaba will become the first Chinese company to make use of Meta’s open-source artificial intelligence (AI) model Llama to power zero-cost development of programs. According to an initial report from Reuters which cited an official statement from Alibaba Cloud through its WeChat account, the cloud computing arm of the Chinese conglomerate has deployed [...]
The post Alibaba to support Meta’s AI model Llama – report appeared first on Crypto Breaking News.
According to reports, Chinese IT giant Alibaba Cloud has partnered with the non-profit NEAR Foundation which developed the decentralized platform
NEAR Protocol’s token surged to a three-week high of $1.60, according to CryptoSlate’s data, following the announcement of its Foundation partnership with Alibaba Cloud. Over the past month, NEAR has declined by nearly 4%, reaching as low as $1.17 on June 15 before slowly rebounding to its current levels. The token had retraced to $1.58 […]
The post NEAR Protocol feels a boost following Alibaba Cloud partnership appeared first on CryptoSlate.
The Nigerian social payments platform Bundle said on July 20 it was shutting down its crypto exchange services business and will now focus on its peer-to-peer platform known as Cashlink. Bundle said users must withdraw or convert their digital assets to the stablecoin tether on or before Aug. 30. Bundle Says Transition Period Is to [...]
The post Nigerian Social Payments Platform Bundle Ceases Crypto Exchange Operations appeared first on Crypto Breaking News.
On Tuesday, the board of directors of Alibaba Group Holding Limited made a significant announcement regarding the company's management.
After founding Ant Group in 2014, Chinese billionaire Jack Ma is now ceding control of the company as part of Ant’s corporate structure changes.
The slated law comes as Nigeria's eNaira has only managed to obtain a 0.5% adoption rate, a little more than a year after its launch in October 2021.
For a significant length of time, downward pressure has exerted a continuous effect on BABYDOGE/USDT market. However, it seems this story is about to change, [...]
Here’s what TV anchor, journalist, and art collector Julius Babao has to say about NFTs and NFT collecting.
The post Julius Babao on How NFTs Can Attract Traditional Art Collectors appeared first on BitPinas.
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Alibaba Cloud has launched NFT market solutions. The NFT solutions are services to enable artists and creators to monetize their ...
Ant Group, a majority-owned fintech firm of Alibaba Group Holdings has launched ANEXT, a digital bank following a nod from the Monetary Authority of Singapore (MAS) earlier this month (Read More)
The China ban on cryptocurrencies has led to many firms moving away from the crypto sector. However, there are still company executives that are going [...] [...]
Joe Tsai, the Executive Vice-Chairman of Chinese conglomerate Alibaba Group has expressed his likeness for digital currencies in a tweet in which he professed “I like crypto.” (Read More)
Alibaba Group registered a software-development business. The new unit in Beijing is called Yuanjing Shengsheng. Analyst believes this is the ...
While not an exhaustive list, the confirmed mining interruptions have affected: viaBTC, Poolin, f2pool, Binance, and BTCcom.
Here are the leading cryptocurrency and decentralised finance headlines that you might have missed this week
Kraken to pay $1.25 million fine for trading violationsCrypto exchange Kraken is set to pay a $1.25 million fine for allegedly offering unregulated crypto products to consumers. A statement released on Thursday by the CFTC also said that Kraken had been ordered to cease and desist from any further violation of the Commodity Exchange Act.
The issue stems from the CTFC’s findings which showed that Kraken had offered marginal trading to its customers between June 2020 and July 2021. Kraken is charged with various irregularities such as forcing liquidation if repayments were not done within 28 days.
Speaking in regards to the decision, Acting Director of Enforcement Vincent McGonagle of the CFTC said that the action was part of the regulator’s broader efforts to protect consumers. He also added that margin digital asset trading in the US had to comply with the set laws and regulations.
Despite reaching an agreement with the regulators, Kraken has not admitted or denied being guilty. The exchange instead offered a statement in response, saying that it remains dedicated to working with regulatory bodies to level the crypto playing field around the world.
FINMA approves first crypto fund in SwitzerlandCrypto Finance became the first entity to gain approval from the Swiss Financial Market Supervisory Authority (FINMA). The Swiss regulator confirmed on Wednesday via a statement that the firm would be offering the “Crypto Market Index Fund”, administered by PvB with custody held by SEBA Bank.
FINMA also said that it has implemented requirements to ensure that the firms it approves are able to wade through the waters of the crypto markets’ risks. For instance, for a firm to gain approval, it must only invest in established crypto assets that have a satisfactorily high trading volume. Further, such a firm would be required to ensure investments are made via counterparties and platforms located in a member country of the Financial Action Task Force, and the approved firms would also be subject to anti-money laundering laws.
The regulator is also keen to apply the present laws around financial markets in a “consistently technology-neutral way” to improve innovation in the country while also ensuring that developing technologies are not used to skirt regulations.
Cardano invests $100 million into DeFi and NFT developmentSpeaking on Sunday during the Cardano 2021 Summit, Ken Kodama, the CEO of Emurgo, Cardano’s commercial arm, said that the project would be investing $100 million to hasten the development of Cardano’s ecosystem. Kodama also confirmed that from next year, the firm would establish “a dedicated operation” to fund the blockchain ecosystem.
The move would be potentially impactful given that Emurgo has been an integral part of Cardano's engagements with government agencies, developers, start-ups and other enterprises. Being a core contributor to the development of the Cardano ecosystem, users hope that the investment will help scale up use cases of the ecosystem.
Additionally, since the blockchain has been smart contract compatible since the Alonzo upgrade, the injection of cash may also help Cardano develop its own decentralised finance (DeFi) and non-fungible token (NFT) projects. Cardano also plans to use the funds to enhance blockchain awareness. The investment vehicle will be split into Emurgo Ventures and Emurgo Africa. Emurgo Africa will support over 300 start-ups in Africa, while Emurgo Ventures will focus on other developed markets.
Alibaba suspends sale of crypto minerse-commerce giant Alibaba put forward an announcement on Monday confirming that it was stopping the sale of crypto mining equipment. Alibaba added that it would also place restrictions on any software, tutorials and strategies involved in virtual currencies. The ban takes effect on 8 October, but Alibaba said it would only start punishing any third parties who break the ban from 15 October.
The announcement came in response to China’s decision last Friday, when it stated that all crypto activity in the country had been outlawed. The People’s Bank of China alongside other regulatory bodies reached this anti-crypto decision while warning that entities that offered offshore crypto exchange services to Chinese citizens would be violating the law.
On Tuesday, Bitmain added to the list of firms whose operations have been affected as sources told CoinDesk that the manufacturer was planning to halt sales in China and move a significant portion of operations out of the Shenzhen region. Bitmain will now be seeking investment in more crypto-friendly environments where it has already made inroads, such as Georgia in the US and Istanbul, Turkey.
Europe is the world’s largest crypto market, ChainalysisCountries within the European continent recorded more than $1 trillion worth of inbound crypto transfers for the period ranging from June 2020 and July 2021, according to a Chainalysis report released on Tuesday. This sum represented 25% of the total global activity and saw the Central, Northern and Western Europe (CNWE) region jump to the top spot, as a result of incredible growth and reduction in activity in Eastern Asia.
Chainalysis attributed the growth to an influx of institutional investors, given that the figures for institutional investment in the region scaled from $1.4 billion in July 2020 to an incredible $43.6 billion in June this year. The growth was led by the UK, which saw $170 billion worth of crypto assets traded into the country, with almost half of the amount, 49%, coming from DeFi protocols.
The report showed that DeFi is slowly becoming integral to this market, considering that it held a significant chunk of the large institutional-sized transfers within the observed period. In fact, DeFi has consistently had three to four of the top five services in most months within the said period. It also highlighted how investors have now increasingly started shifting towards ‘staking’ their crypto via DeFi protocols.
The post Weekly Report: Alibaba and Bitmain lead exit from China appeared first on Coin Journal.
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