Prime Trust Pulls $100m in Series B to Float New Products

Cryptocurrency infrastructure service provider, Prime Trust LLC, has raised $107 million in Series B funding as it seeks to deepen ties with its clients with its proposed new products.

Coinbase to Phase Out Trader-Friendly ‘Pro’ Exchange

The standalone service will be replaced by Advanced Trade, a feature within the main Coinbase app.

Citibank Building Crypto Custody Service, Says Mass Digitization of Traditional Investments Taking Place

Financial services giant Citibank is creating a crypto custody service, saying that a mass digitization of traditional investments is already underway.

Chainalysis launches reporting service for businesses targeted in crypto-related cyberattacks

The firm said it was starting a 'Crypto Incident Response’ hotline to "help bring bad actors to justice and demonstrate that crypto is not the asset class of anonymity and crime.” Blockchain analytics firm Chainalysis has launched a reporting hotline for incidents of hackers demanding cryptocurrency payments from platforms or companies.In a Wednesday blog post, Chainalysis said its ‘Crypto Incident Response’ hotline would operate 24/7 for victims of a “hack, ransomware attack, code exploit, or flash loan attack” in which “cryptocurrency funds are either demanded or stolen.” The company attributed the launch of the reporting service to crypto-related ransomware attacks presenting “national security concerns” as well as potentially undermining confidence in the crypto industry.According to Chainalysis, hackers were responsible for the loss of more than $3 billion in crypto value through theft and ransom demands from 251 attacks in 2021, with transactions to and from illicit addresses representing 0.15% of total transaction volume in the space.

Bank of Spain Has Registered 17 Crypto Companies, Big Names Still Missing

The Bank of Spain has already included 17 virtual asset service providers in its own registry, in which cryptocurrency exchanges and custody providers must be listed to operate, according to Spanish law.

Ethereum Name Service [ENS] takes U-turn; will it give in to crypto winter

Over the last month, as investors tried to salvage the rest of their crypto assets investment from further losses, acquiring a domain name took the backseat on the list of their problems.

Crypto exchange BlockFi secures $250M credit from FTX amid bear market

At a time when a significant number of crypto platforms are struggling to remain afloat, BlockFi hopes the new credit line would help them secure user’s funds BlockFi, a cryptocurrency exchange and digital wallet service provider, has secured a $250 million credit from leading crypto platform FTX.Today @BlockFi signed a term sheet with @FTX_Official to secure a $250M revolving credit facility providing us with access to capital that further bolsters our balance sheet and platform strength.— Zac Prince (@BlockFiZac) June 21, 2022 BlockFi has signed a term sheet with FTX crypto exchange to secure a $250 million revolving credit facility.

Bitpanda cryptocurrency exchange scores registration in Spain

Previously, the Austrian company has obtained licenses in France, Italy, Sweden and Czech Republic. Bitpanda, an Austrian cryptocurrency exchange that was valued at $4.1 billion last summer, have received registration as a virtual currency exchange and digital asset custody service provider in Spain. The company’s name appeared in the Bank of Spain’s registry for crypto enterprises on June 16.

Celsius Repays Compound Finance $10m Worth of DAI

Crypto lender Celsius Network has repaid interest-yielding DeFi service Compound Finance with $10 million worth of the DAI algorithmic stablecoin, according to a report from Crypto Briefing.

Tether Faces Ransom Demand and Massive Denial of Service Attack, According to CTO Paolo Ardoino

The chief technology officer of stablecoin issuer Tether says the firm was hit with a ransom demand amid a distributed denial of service attack (DDoS).

Hong Kong-Based Crypto Firm Suspends Withdrawals Less Than a Month After Closing $80,000,000 Funding Round

A Hong Kong-based crypto financial service provider is freezing withdrawals within weeks of closing a multi-million-dollar funding round.

Indian Crypto Advocacy Body Press for Restoration of Instant Retail Payments Service – UPI (Report)

The local crypto-focused organization has sought time for a meeting to discuss the issue and understand the regulator’s concerns.

Ankr partners with Optimism to provide a fast and reliable RPC service for users

Ankr also said that it will incentivize independent Optimism node operators to add their nodes to the load balancer in return for ANKR tokens. Ankr, a company that provides one-click node deployment and Web3 infrastructure, has announced that it will become a remote procedure call provider for Optimism.Optimism is an open-source Layer 2 scaling solution for Ethereum that focuses on speed and efficient transactions across the network.

Dump Discord? Nansen Launches Messaging App for Web3 Communities

Analytics platform Nansen aims to take a bite out of Discord’s dominance with a new messenger service for NFT projects and more.

Seized crypto safe with US Marshals Service? Not so much, new audit reveals

OIG’s audit disclosed the lack of documented policies and practices related to the management of seized crypto assets — especially related to the use of inventory spreadsheets. The Office of the Inspector General (OIG) for the United States Department of Justice conducted an extensive audit of the cryptocurrencies seized by the US Marshals Service (USMS) — revealing the dire need for the federal agency to revamp its existing crypto management and policy systems.OIG’s audit on the seized cryptocurrencies found the USMS implementing adequate safeguards over its storage and access.

Coin Center Sues IRS For Unconstitutional Tax Reporting Rules

Coin Center, a Washington DC-based non-profit research and advocacy centre, has filed a lawsuit against the United States Treasury and the Internal Revenue Service (IRS) for a tax reporting requirement it wants to pass into law.

Ripple Competitor and MoneyGram Roll Out Zero-Fee Money Transfer Service Using USDC Stablecoin

Ripple challenger Stellar (XLM) is teaming up with money transferring service MoneyGram to launch a new global crypto-to-cash protocol featuring stablecoin USD Coin (USDC).

MoneyGram’s USDC transfer service launches in several countries

The payment service, which is powered by the Stellar blockchain, will enable USDC settlement with MoneyGram in “near-real-time.” Cross-border transfer service MoneyGram officially launched its stablecoin-powered payment channel on Friday, giving users the ability to send USD Coin (USDC) payments worldwide that can be withdrawn as cash by recipients. The service is being rolled out across several key remittance markets, including Canada, the United States, Kenya and the Philippines, Circle and MoneyGram announced Friday.

Mastercard to allow 2.9B cardholders to make direct NFT purchases

Card payments for NFTs were first announced in association with Coinbase’s latest NFT marketplace in January. International payment processing giant Mastercard is expanding its payment network for nonfungible token (NFT) markets and Web3.The financial service provider announced that it has been working on expanding their payment networks to NFTs over the past year.

Crypto exchange Binance seeks critical licenses in Philippines, CEO says

The exchange platform is looking to get virtual assets service provider and e-money issuer licenses from the Banko Sentral ng Pilipinas.

Paypal Upgrades Crypto Service — Now Lets Users Transfer Cryptocurrencies to Other Wallets, Exchanges

Paypal has begun letting users transfer cryptocurrencies between its platform and other wallets and exchanges.

Philippines Crypto Wallet Service Provider Coins.ph Partners With the PBA

Another digital currency firm is making moves into the sports world as the Philippines crypto wallet service provider Coins.ph announced the company has partnered with the Philippine Basketball Association (PBA).

Blockchain-based move-to-earn app Stepn under DDoS attacks after upgrade

Apart from trying to get rid of cheating and bots, Stepn is also working to limit its platform’s availability for users in mainland China. Solana-based move-to-earn application Stepn has reported multiple denial-of-service (DDoS) attacks in the aftermath of the platform proceeding with a major anti-cheating upgrade.Stepn took to Twitter on June 5 to report that the platform has suffered a number of DDoS attacks causing recovery maintenance and associated improper performance.1/2We have been under multiple DDOS attacks in the past hours.

Nigerian Blockchain and Crypto Association Introduces a Code of Conduct for VASPs

The Nigerian blockchain and crypto advocacy group, the Stakeholders in Blockchain Technology Association in Nigeria (SIBAN) recently announced the introduction of a code of conduct for Nigerian virtual assets service providers.

South Korea ramps up crypto investigations and regulations

South Korea announced Digital Assets Committee, launched an investigation and met with Asia-Pacific financial authorities. On Friday, June 3, South Korea’s Financial Supervisory Service (FSS) began an investigation into payment gateway services that work with digital assets.

Blockchain Toolkit Alchemy Launches Solana Developer Platform

Solana developers can now use Alchemy, the popular "pick and shovel" service that supplies tools to accelerate Web3 building.

ChangeNOW all set to support LUNA 2.0 and LUNC

Instant crypto exchange service ChangeNOW allows for swapping LUNA – the coin of the new Terra 2.0 blockchain, as well as LUNC, the old mainnet’s token. As UST and the original version of LUNA The post ChangeNOW all set to support LUNA 2.0 and LUNC appeared first on AMBCrypto.

Aussie consumer group calls for better crypto regs due to ‘lagging laws’

Australian consumer group CHOICE outlined its crypto regulatory framework in a submission to the country’s Treasury calling for the new federal government to prioritize crypto in its financial services reforms. Australian consumer advocacy group CHOICE has called on the federal government to provide better protection for crypto investors while submitting a proposed regulatory framework for cryptocurrency exchanges operating in the country.The regulatory framework was submitted in response to the federal Treasury's consultation paper for “crypto asset secondary service providers” (CASSPs) defined as firms providing custodial crypto wallets and exchange services.

Remittance Giant MoneyGram Prepares Imminent Launch of New Crypto Service With XRP Rival Stellar Lunes: Report

Money-transferring services giant MoneyGram is prepping to launch a new crypto-focused service.

Frodo Tech Aims to Create Environmentally-Friendly Blockchain Ecosystem That Is Open to Everyone

Frodo Tech aims to create an environmentally-friendly blockchain ecosystem based on a unique cryptocurrency service that all the people in the world can access, without any limitations based on race, region or country. Frodo Will Have No Limitations and No Mining Frodo Tech is an IT and Financial blockchain services company based in Auckland, […]