Ground handling firm to use blockchain document solution at 28 Saudi airports
Saudi Ground Services, a Saudi Arabia-based airport ground handling services firm, says it is announcing a blockchain-based document implementation that allows it to issue license-free over 10,000 digital documents annually. According to the firm’s Ayman AlGhamdi, using the solution will allow SGS to not only easily verify documents and licenses but also gain valuable experience and improve customer experience.
Midnight Massacre: ‘SEC Action on Crypto Staking Services Prompts Speculation of Further Enforcement Actions’
The crypto community became aware of the SEC’s crackdown on staking services on February 9, 2023. Kraken, a cryptocurrency exchange, was fined $30 million by the Securities and Exchange Commission for an “unregistered offering” related to its US staking service. Advocates of digital currency are now arguing that what constitutes a yield product versus a non-custodial solution cannot be considered a security. Fox News journalist Eleanor Terrett predicts more action in the crypto space in the coming weeks, including enforcement action against exchanges and banks.
Kraken CEO calls on Congress to protect US crypto industry after settlement with SEC over staking program
Jesse Powell, CEO of crypto exchange Kraken, has called on Congress to pass a law to protect the US crypto industry after the Securities and Exchange Commission took action against his trading platform over its crypto staking services. The Kraken boss tweeted that Congress must act to protect the domestic crypto industry and US consumers who are going offshore to access services not available in the US. In a blog post on Thursday, Kraken says that staking services will of course continue uninterrupted for non-US customers and that non-US customers can continue to stake and withdraw assets as well as be automatically awarded as usual. Can bet on it by holding it.
Bitcoin Price Outlook for February
The month of February has been a roller coaster ride for cryptocurrency traders with price uncertainty remaining high due to market volatility. Since a strong start to the month, bitcoin price has seen a decline, resulting in a bearish trend. However, only 2 weeks are left in this short month and let us see what else can be in store for the bookies?
Three Arrows Capital Co-Founder Announces New Crypto Venture Open Exchange Amid Bankruptcy Dispute
Following its recent liquidator’s admission, Three Arrows Capital (3AC) claimed frustration with the founders for allegedly failing to respond to subpoenas sent via Twitter. Su Zhu, one of the co-founders, tweeted his latest about the industry and Open Exchange. The purpose of the exchange is to provide users with the ability to trade with claims against bankrupt cryptocurrency firms or use portfolio mongering.
Biggest Movers: SOL, ADA Plunge as Market Momentum Turns Bearish
Solana slips to a 3-week low on February 10 as momentum in the cryptocurrency market remained strong. At the time of writing we can see that it is trading 4.23% lower in terms of global market capitalization with the bears again taking over the sentiment and definitely the market is still slippery and with bearish sentiment. Cardano was also on the decline, down as much as 8% today.
Stablecoin Market in Flux: Over $2 Billion in USDC Redemptions in 30 Days
The stablecoin USD coin seems to have reduced circulation while Tether has definitely grown and the numbers that appear paint a picture, with the coin seeing a 3% increase in the last month, while USD Coin, a crypto currency asset pegged to the US dollar, registered a decrease of about 4.9% in the same range. In the last 1 month from January 6th, 2023 to February 10th approximately we can say that USD coins worth $2.196 billion were redeemed.
Bitcoin, Ethereum Technical Analysis: BTC, ETH Hit Multi-Week Lows, Sell-Off As Worsens
Bitcoin moved from $22000 during Friday’s session as bearish sentiment prevailed in the cryptocurrency markets. Markets have been volatile in recent days after United States Fed Chairman Jerome Powell’s comments certainly indicated that interest rate hikes could continue in the near future. Ethereum is also underperforming and declined below $1,600.
Russian Charges Guilty in US With Crypto Laundering Ransomware Prosecution
A Russian national has been arrested in the United States for transmitting cryptocurrency payments under ransomware. has been convicted of money-laundering in the U.S. The man was extradited from the Netherlands in mid-August last year and will be sentenced in April.
Argentina considering incorporating proof-of-solvency requirements into crypto regulation
Regulators in Argentina are looking to include stricter requirements and regulations in their next cryptocurrency regulatory framework. According to reports prepared amid bankruptcy filings of major cryptocurrency exchanges, we can say that institutions such as the national securities regulator, the CNV, will study the inclusion of proof-of-solvency requirements for Argentine exchangers and custodial entities.
Moonpay and Luxrare partner to bring convenient NFT purchases to the masses
On Thursday, fiat-to-crypto onramp business Moonpay announced a groundbreaking partnership with NFT marketplace and according to the deal, Luxrare marketplace users will be allowed to buy and sell crypto assets exclusively through Moonpay’s services.
