Month: August 2022

Samsung Securities is among seven large South Korean securities companies that have applied for government approval to create a virtual assets exchange, according to a report in South Korean publication Newspim. The companies aim to create a corporation to open an exchange in the first half of next year. Newspim quoted an unidentified executive as saying
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An analyst at the New York-based financial services and investment management company Morgan Stanley detailed on Monday that crypto liquidity seems to be recovering. Morgan Stanley’s Sheena Shah highlighted in a note to investors that the stablecoin market capitalization is seeing fewer redemptions for the first time since April. Morgan Stanley Investors’ Note Says Crypto
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Sony Interactive Entertainment has been sued by nine million claimants who accuse the company of “overpricing” PlayStation games, according to a report in Sky News. The users of the gaming console manufacturer have accused Sony of “ripping people off” with games and in-game purchases on its online store, the outlet further said. The collective action
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Banking giants such as JPMorgan Chase and Bank of America collectively face more than $1 billion (roughly Rs. 8,000 crore) in regulatory fines for employees’ use of unapproved messaging tools, including email and apps like WhatsApp. The US Securities and Exchange Commission (SEC) began probing banks’ record-keeping practices relating to the use of personal devices
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From a “nuclear explosion” in the country to North Korea sending troops to Ayodhya, the 102 YouTube channels banned by the government were known to routinely spread disinformation about India to its lakhs of subscribers, and were “monetising fake news”, officials have said. The government started the crackdown against such YouTube channels for the first
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Budget Android device models that are counterfeit versions associated with popular smartphone brands are harboring multiple trojans designed to target WhatsApp and WhatsApp Business messaging apps. The trojans, which Doctor Web first came across in July 2022, were discovered in the system partition of at least four different smartphones: P48pro, radmi note 8, Note30u, and
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Stablecoin issuers like Tether (USDT) and Circle have accumulated a significant share in the United States Treasury market, outperforming major traditional finance players. Various stablecoin providers collectively held $80 billion worth of short-term U.S. government debt as of May 2022, according to a study by the investment bank JPMorgan released on Aug. 16. Tether, Circle
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The Ethereum ecosystem continues to witness a flurry of activity that has individuals and organizations deploying token contracts, adding liquidity to pools and deploying smart contracts to support a wide range of business models. While notable, this growth has also been riddled with security exploits, leaving decentralized finance (DeFi) protocols vulnerable to hacks and scams. 
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The percentage of USD Circle (USDC) stablecoins held by major wallet addresses dropped to its lowest point in almost two years as the cryptocurrency market downturn continues. Cryptocurrency analytics firm Glassnode has released the latest data on USDC metrics, reflecting a recent sell-off of the second biggest U.S. dollar-backed stablecoin by market capitalization. $USDC Percent
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The average transaction fees on the Bitcoin (BTC) blockchain fell below $1.00 for the first time in over two years, further strengthening its use case as a viable mainstream financial system. High transaction fees over blockchain networks work against the users, especially when making low-value transactions. For example, transaction fees over the Ethereum blockchain skyrocketed several
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