Jio Financial Services (JFS), a subsidiary of Reliance Industries Ltd, is taking a technologically-driven approach in expanding its product offerings by exploring blockchain-based platforms and CBDC. Mukesh Ambani, Chairman and MD of RIL, highlighted JFS’s strategic orientation during the company’s annual general meeting. Ambani said JFS wants to become a
August 28, 2023 2 mins read
Western Union, the world leader in money transfers, has entered the cryptocurrency realm. CEO Hikmet Ersek has said that the business is investigating ways to use the Ripple blockchain and its native token, XRP. Western Union’s entrance into blockchain and cryptocurrencies was announced by Ersek in a recent conference call
August 25, 2023 1 min read
In order to bring inflation down, U.S Fed Chair Jerome Powell has suggested that weaker labor markets are necessary. He issued a stern warning that the US Federal Reserve is ready to implement more interest rate hikes if they become necessary. Powell said that the Fed plans to keep interest
August 25, 2023 1 min read
The Federal Reserve Bank of Kansas City will host its annual Economic Policy Symposium (Jackson Hole Symposium) on August 24-26, 2023, at a time when de-dollarization fears are at an all-time high. Based on previous reactions to US Federal Reserve events over the last two years, it’s possible Bitcoin’s price
August 24, 2023 2 mins read
The underlying Bitcoin network is not looking to follow the negative BTC price behavior. New records have been set for both difficulty and hash rate, as verified by the most recent on-chain statistics. Bitcoin miners seem to be unfazed by the recent price decrease of 10%. On August 22nd, the
August 23, 2023 1 min read
On Tuesday, whale monitoring service Whale Alert revealed that a whale had transferred 4.6 trillion SHIB tokens worth around $38.35M from an unknown wallet to another unknown wallet. After lead developer Shytoshi Kusama launched the long-awaited L2 Shibarium mainnet last week, the chain saw an enormous load and entered fail-safe
August 22, 2023 2 mins read
Bitget is revising its KYC procedures for customers to conform to international regulatory standards. The exchange claims that additional KYC procedures are being implemented to safeguard customers’ interests. Also, foster a safe ecosystem for the trading of cryptocurrencies, and meet the criteria of regulatory bodies throughout the world. Beginning in
August 21, 2023 1 min read
A crypto whale who had been sitting on $41 million worth of Ethereum (ETH) sold it out only days before the market plummeted, saving a possible $5 million loss. Blockchain research platform Lookonchain highlighted the transaction. The crypto whale made a deposit of 22,341 ETH to the crypto exchange Binance
August 18, 2023 1 min read
A US judge has approved the SEC’s request to work with the South Korean government in its investigation of the alleged illegal scheme involving Daniel Shin, co-founder of Terraform Labs, and Chai Corp, a payments firm. As part of its investigation against Terraform Labs and its ex-CEO, Do Kwon, the
August 18, 2023 2 mins read
Stocks in the United States unexpectedly fell at the market close, with the technology-focused Nasdaq Composite leading the decline. The release of the Fed’s July meeting minutes affected market sentiment because they highlighted a rising worry among top officials about “upside inflation risks.” Fear of further interest rate rise dampened investor optimism on
August 17, 2023 2 mins read
